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By Yuvraj Malik (Reuters) – Shares of Dell Technologies hit a record high on Friday amid a rally in companies working on generative artificial intelligence applications, buoyed by strong optimism for the new technology. AI-heavyweight Nvidia posted strong quarterly results and forecast current-quarter revenue above Wall Street expectations on Wednesday, reinforcing that customers’ spending on genAI will continue to hold strong. The positive momentum extended to Dell, which has recently launched AI-oriented personal computers and … Read more…

(Reuters) -GameStop made nearly $933.4 million by selling 45 million shares, the struggling videogame retailer said on Friday, sending its shares up 15% after the bell. The company had disclosed its share sale plan earlier this month amid a retail buying frenzy sparked by the return on social media of “Roaring Kitty” Keith Gill, whose bullish calls on the company spurred the 2021 meme stock rally. The deal was structured as an “at-the-market” offering, in … Read more…

By Hadeel Al Sayegh and Federico Maccioni DUBAI (Reuters) -Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said. The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could still change, the sources said, who were speaking on condition of anonymity … Read more…

By Patrick Wingrove (Reuters) -Eli Lilly said on Friday it has invested another $5.3 billion in its new Lebanon, Indiana manufacturing plant, more than doubling its previous investment, as it scrambles to meet soaring demand for its weight-loss and diabetes drugs. The new investment, which brings the total to $9 billion, will help boost production of the active pharmaceutical ingredients (API) for Lilly’s powerful weight-loss drug Zepbound and diabetes treatment Mounjaro, the company said. “Today’s … Read more…

PARIS (Reuters) – Tesla founder Elon Musk on Thursday told tech investors gathered in Paris that he was against any tax incentives or tariffs that favour electric cars, just as he was against benefits for oil and gas. “Neither Tesla nor I asked for these tariffs, in fact I was surprised when they were announced”, Musk said, referring to such policies recently announced by the United States. (Reporting by Martin Coulter, Tassilo Hummel, editing by … Read more…

(Reuters) -Tesla’s latest impact report published on Thursday does not include its previously laid down target to deliver 20 million vehicles a year by 2030, another sign the company was scaling back its auto ambitions as it shifts focus to robotaxis. CEO Elon Musk last month said that Tesla would use current product lines for new affordable vehicles, as it retreated from more ambitious plans to produce an all-new model that had been expected to … Read more…