Applied Materials Stock Drops 6% on China Export Curb Concerns
Applied Materials forecasts reduced China spending in 2026 due to U.S. export restrictions, causing shares to fall 6%. Company expects recovery in second half of 2026.
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Alibaba to Revamp Its AI App “Tongyi” into “Qwen” to Rival ChatGPT
Alibaba is overhauling its “Tongyi” app into “Qwen,” adding AI agent features for shopping and expanding globally — a major step to compete with OpenAI and ByteDance.
Cisco Lifts Forecast as AI Spending Boosts Networking Demand
Cisco Systems reported strong quarterly results and raised its sales outlook, driven by booming AI infrastructure demand and campus network upgrades.
GlobalFoundries Q3 Profit Jumps 40% on Better Margins
GlobalFoundries (GFS) reports increased Q3 profit with improved margins through better product mix, despite lower revenue. Fourth-quarter outlook exceeds analyst expectations.
IBM’s Quantum Leap: Closer to Truly Useful Computing
IBM announces major breakthroughs in quantum computing hardware (Nighthawk, Loon) and software (Qiskit), speeding up the path to useful quantum systems by 2026.
AMD Predicts 35% Annual Revenue Growth Driven by Soaring AI Chip Demand
AMD forecasts 35% annual revenue growth over 3-5 years, with AI data center sales jumping 80% annually as chip demand accelerates despite market concerns.