38m ago
CoreWeave shares regain momentum after Q2 beat, eyes return to $153.20 high
CoreWeave shares have resumed their advance after a pullback, supported by a strong second quarter and higher full-year revenue guidance. The company reported Q2 revenue of $2.6 billion, up 112% year over year, and adjusted EBITDA that more than doubled to $1.5 billion. Revenue backlog reached $104 billion at quarter-end, up 246% year over year, excluding more than $25 billion of net new customer commitments added early in the third quarter.
38m ago
54m ago
OpenAI executive departures rattle C-suite as company prepares IPO at $852 billion valuation
OpenAI has seen a wave of senior departures, including Denise Dresser, Fidji Simo and Brad Lightcap, adding to leadership turbulence as the company prepares a landmark IPO at an $852 billion valuation. The company appointed former Wiz COO Dali Rajic as chief revenue officer and said July run-rate revenue rose more than 20% month over month, including 32% growth from business customers. OpenAI has confidentially filed its IPO prospectus but has not provided a timeline for the offering. The shake-up is fueling investor concern about governance and stability heading into the public listing.
54m ago
1h ago
Reddit shares jump over 11% after S&P 500 adds stock, replacing AvalonBay
Reddit will be added to the S&P 500, replacing AvalonBay Communities. J.P. Morgan estimates index funds tracking the benchmark will need to buy about 16.7 million Reddit shares, nearly three times its average daily trading volume. Reddit was indicated at $175.69 in premarket trading, with the stock down more than 31% year to date and off more than 42% from its all-time high. AvalonBay is exiting the index after agreeing to a $69 billion all-stock merger with Equity Residential.
1h ago
1h ago
Hyperscale Data shares slide after Aug. 14 sale of about 685 Bitcoin for roughly $43 million
Hyperscale Data said on Aug. 14 it sold around 685 Bitcoin for approximately $43 million. The company said it plans to use the proceeds to continue developing and expanding its Michigan data center, manage debt, and optimize its equity and capital structure, among other strategic initiatives. It added that it still holds approximately 275 Bitcoin. Following the announcement, the stock fell 13.24% to close at $0.0978.
BTC
BTC-0.39%
1h ago
1h ago
Morgan Stanley raises IBIT stake 23% in Q2; JPMorgan also adds to crypto ETF holdings
Morgan Stanley increased its stake in BlackRock’s iShares Bitcoin Trust ETF (IBIT) by 23% in the second quarter, ending June with about 16.5 million shares valued at roughly $549 million. The bank also reported 2.57 million shares of its Morgan Stanley Bitcoin Trust worth about $43.3 million, and lifted its position in Fidelity’s Wise Origin Bitcoin Fund by nearly 38%. The changes were detailed in Form 13F filings submitted to the U.S. Securities and Exchange Commission. JPMorgan also boosted its holdings across crypto ETFs over the same period.
BTC
BTC-0.39%
1h ago
1h ago
US stocks slip after July retail sales fall 0.6%, September Fed hike odds ease to 29%
U.S. stocks edged lower after July retail sales fell 0.6% month on month, far weaker than expectations for a 0.1% rise, while sales excluding autos and gasoline declined 0.2%. The data fueled concerns about slowing growth and corporate earnings, even as markets pared the implied probability of a September Fed rate hike to 29% from 35%. At the same time, the 10-year Treasury yield rose about 3 basis points, reinforcing investor unease that inflation pressures have not fully faded.
1h ago