Published: May 9, 2023 at 5:28 p.m. ET
Shares of technology companies fell, as earnings-season gains continued to fade.
Nvidia shares fell, but the high-performance chip-maker’s market value has doubled in the first four-and-a-half months of the year, as investors bet it will benefit from the artificial-intelligence craze, The Wall Street Journal reported.
Another company that’s…
Shares of technology companies fell, as earnings-season gains continued to fade.
Nvidia shares fell, but the high-performance chip-maker’s market value has doubled in the first four-and-a-half months of the year, as investors bet it will benefit from the artificial-intelligence craze, The Wall Street Journal reported.
Another company that’s benefiting from AI technology is Microsoft. Shares of the software giant are up by roughly 28% for the year to date, for one of its best first-half performances since the 1990s.
Microsoft’s LinkedIn said it’s closing down its China-focused jobs app and cutting 716 positions globally, citing slower revenue growth and changing customer behavior as it becomes the latest U.S. tech company to trim its work force amid economic pressures.
Shares of Palantir Technologies surged after the maker of consulting software forecast revenue growth ahead of Wall Street targets.
Shares of PayPal fell after the maker of payment technology logged quarter profit shy of investors’ expectations.
Write to Rob Curran at rob.curran@dowjones.com