Shares of technology companies added to recent gains as a momentum rally took flight.
Shares of Nvidia, the maker of high-capacity semiconductors that support artificial-intelligence applications, rose by more than 3% and are up by roughly 23% for 2024 to date.
Microsoft shares were set to test the psychologically significant $400 level for the first time ever, as AI ebullience brought 12-month gains for the multitrillion dollar company to 72%.
Moves by chip giant Broadcom to shore up its $69 billion VMware acquisition, completed in November, include a streamlining of product bundles and new billing models.
The European Union’s antitrust regulator intends to block Amazon’s $1.7 billion bid to purchase Roomba maker iRobot, The Wall Street Journal reported.
Separately, Apple said it will address antitrust concerns from European regulators surrounding the popular Pay app by allowing access to third-party mobile wallet and payment services.
Online retailer Wayfair plans to lay off 13% of its employees, weeks after the company’s chief executive sent a memo asking them to work harder.
Write to Rob Curran at [email protected]
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