Jonathan Wong
The Latest
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Samsung to Receive $6.4 Billion CHIPS Act Funding for Massive Semiconductor Plants in Texas
The Biden administration has announced that Samsung, the South Korean electronics giant, will receive $6.4 billion in direct funding under the CHIPS and Science Act to support the company's $40 billion investment in building a massive chipmaking hub in Taylor, Texas, and expanding its existing facility in Austin. 
The Biden administration has announced that Samsung, the South Korean electronics giant, will receive $6.4 billion in direct funding under the CHIPS and Science Act to support the company's $40 billion investment in building a massive chipmaking hub in Taylor, Texas, and expanding its existing facility in Austin. -
Tesla to Cut 15,000 Jobs Globally in Drive for Cost Reduction and Increased Productivity
Tesla, the world's largest automaker by stock market value, is set to cut around 15,000 jobs globally in a bid to reduce costs and bolster productivity, according to reports from tech publication Electrek and Reuters. The electric vehicle maker, led by Elon Musk, has been grappling with soft demand for its vehicles, increased competition, and the impact of higher interest rates across much of the western world. 
Tesla, the world's largest automaker by stock market value, is set to cut around 15,000 jobs globally in a bid to reduce costs and bolster productivity, according to reports from tech publication Electrek and Reuters. The electric vehicle maker, led by Elon Musk, has been grappling with soft demand for its vehicles, increased competition, and the impact of higher interest rates across much of the western world. -
Citigroup's Q1 Profit Slips as Severance Costs and FDIC Fees Weigh on Earnings
Citigroup reported a 27% drop in first-quarter profit on Friday, as the bank grappled with higher expenses related to employee severance and a contribution to replenish a government deposit insurance fund. 
Citigroup reported a 27% drop in first-quarter profit on Friday, as the bank grappled with higher expenses related to employee severance and a contribution to replenish a government deposit insurance fund. -
Ford Expands Recall for Bronco and Escape Over Fire Concerns, Prompting Federal Probe
Ford Motor Company has expanded a recall involving its Bronco and Escape vehicles due to risks that cracked fuel injectors could lead to engine compartment fires. This recall now affects nearly 43,000 vehicles, specifically the 2022 Escape and both the 2022 and 2023 Bronco Sport editions equipped with 1.5L engines, according to information from the National Highway Traffic Safety Administration (NHTSA). 
Ford Motor Company has expanded a recall involving its Bronco and Escape vehicles due to risks that cracked fuel injectors could lead to engine compartment fires. This recall now affects nearly 43,000 vehicles, specifically the 2022 Escape and both the 2022 and 2023 Bronco Sport editions equipped with 1.5L engines, according to information from the National Highway Traffic Safety Administration (NHTSA). -
Apple Shares Soar 4.3% as Company Gears Up for AI-Focused M4 Chips Across Entire Mac Lineup
Apple shares experienced their best day since May 5, 2023, climbing 4.3% to a share price of $175.04 on Thursday. 
Apple shares experienced their best day since May 5, 2023, climbing 4.3% to a share price of $175.04 on Thursday. -
Nvidia Shares Slide 10% from Record Highs Amid Concerns Over AI Model Sizes and Competition
Nvidia, the chipmaking giant that has been riding the artificial intelligence wave, has seen its shares enter "correction territory" as the stock has fallen 10% from its most recent all-time closing high. The company's shares closed at $853.54 on Tuesday, down 2% for the session, marking a significant pullback from the record high of $950 achieved on March 25. 
Nvidia, the chipmaking giant that has been riding the artificial intelligence wave, has seen its shares enter "correction territory" as the stock has fallen 10% from its most recent all-time closing high. The company's shares closed at $853.54 on Tuesday, down 2% for the session, marking a significant pullback from the record high of $950 achieved on March 25. -
TSMC's Revenue Soars Amid AI Boom, Backed by U.S. CHIPS Act Funding
Taiwan Semiconductor Manufacturing Co. (TSMC), the world's premier contract chipmaker, has experienced a notable surge in its monthly revenue, the most rapid since November 2022, primarily fueled by the burgeoning demand for artificial intelligence (AI) chips. March saw the company's revenue climb to NT$195.2 billion ($6.1 billion), a significant 34.3% increase from the previous year, with the first quarter's total reaching NT$592.6 billion, up 16.5% year-on-year. 
Taiwan Semiconductor Manufacturing Co. (TSMC), the world's premier contract chipmaker, has experienced a notable surge in its monthly revenue, the most rapid since November 2022, primarily fueled by the burgeoning demand for artificial intelligence (AI) chips. March saw the company's revenue climb to NT$195.2 billion ($6.1 billion), a significant 34.3% increase from the previous year, with the first quarter's total reaching NT$592.6 billion, up 16.5% year-on-year. -
Delta Surpasses Q1 Earnings, CEO Optimistic About Travel Demand Surge
Delta Air Lines has surpassed first-quarter earnings expectations, showcasing a robust rebound in both leisure and corporate travel sectors. The airline, under the leadership of CEO Ed Bastian, reported an adjusted net income of $288 million, outpacing the projected $235 million. This financial upturn is buoyed by an adjusted earnings per share of $0.45, exceeding the anticipated $0.36, and a revenue of $12.6 billion against an expected $12.5 billion. 
Delta Air Lines has surpassed first-quarter earnings expectations, showcasing a robust rebound in both leisure and corporate travel sectors. The airline, under the leadership of CEO Ed Bastian, reported an adjusted net income of $288 million, outpacing the projected $235 million. This financial upturn is buoyed by an adjusted earnings per share of $0.45, exceeding the anticipated $0.36, and a revenue of $12.6 billion against an expected $12.5 billion. -
Boeing Faces New FAA Probe Over Whistleblower Claims on 787 and 777 Jets
Boeing is under renewed scrutiny after whistleblower claims raised concerns about the safety and quality of its 787 Dreamliner and 777 aircraft, leading to a Federal Aviation Administration (FAA) investigation. Shares of the aerospace giant dropped to a five-month low, reflecting investors' growing concerns over the potential impact of these allegations on Boeing's operations and reputation. 
Boeing is under renewed scrutiny after whistleblower claims raised concerns about the safety and quality of its 787 Dreamliner and 777 aircraft, leading to a Federal Aviation Administration (FAA) investigation. Shares of the aerospace giant dropped to a five-month low, reflecting investors' growing concerns over the potential impact of these allegations on Boeing's operations and reputation. -
Tesla Settles Autopilot Litigation with Family of Late Apple Engineer
Tesla has reached a settlement in a wrongful death lawsuit with the family of Walter Huang, a former Apple engineer. This lawsuit, stemming from a fatal crash involving Tesla's Autopilot system in March 2018, was on the cusp of trial in a California Superior Court. The terms of the settlement remain undisclosed, sparing the electric vehicle giant from potentially damaging courtroom disclosures. 
Tesla has reached a settlement in a wrongful death lawsuit with the family of Walter Huang, a former Apple engineer. This lawsuit, stemming from a fatal crash involving Tesla's Autopilot system in March 2018, was on the cusp of trial in a California Superior Court. The terms of the settlement remain undisclosed, sparing the electric vehicle giant from potentially damaging courtroom disclosures.
