The US has decided not to renew the United States-Mexico-Canada Agreement (USMCA), instead opting for annual reviews to address ongoing trade issues, particularly trade deficits with Canada and Mexico. This move signals a shift in US trade policy under President Trump, who criticized the current terms and emphasized the need for better treatment of US interests. Additionally, South Korea faces scrutiny after a US House committee found discriminatory actions against US companies, potentially violating trade deal provisions. Meanwhile, US job growth slowed in June, and Federal Reserve Chairman Kevin Warsh offered no clear guidance on future monetary policy. In markets, tech stocks led gains in the first half of the year, with emerging markets like South Korea's Kospi outperforming. Meta jumped nearly 9% after announcing a new cloud business initiative.
Jim Cramer advises investors to use the recent market rotation as a chance to sell underperforming stocks at a premium and buy leading winners at a discount. He highlights Meta, Micron, and AMD as top picks, noting strong demand in semiconductors and...
Meta Platforms has revealed it has excess AI computing capacity and is building a cloud business to sell this surplus. This admission is significant as it marks the first major hyperscaler to acknowledge overcapacity, suggesting a slowdown or reducti...
Meta Platforms' stock surged 9% after reports that the company plans to monetize its excess cloud computing capacity. This move raises questions about whether Meta is scaling back its AI investments or shifting strategy to boost its business. The sto...
After soaring in the second quarter with a combined $2 trillion gain, major semiconductor stocks including Micron, Intel, and AMD fell sharply at the start of Q3, with Micron dropping 11%, Intel 9%, and AMD 7%. The sell-off followed fears that AI inf...
Meta Platforms is expanding its cloud computing with a $27 billion AI investment framework, indicating over $100 billion in annual AI capital expenditure. This expansion supports ongoing GPU overbuild and persistent AI compute scarcity globally. Nebi...
