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shares jumped nearly 13% to a more than 10-year high on Thursday after the company reported a better-than-expected revenue outlook backed by strong demand for its artificial intelligence (AI) services. Orders from IBM's generative AI business, which includes bookings and sales from services such as those powered by its Watsonx AI platform, doubled in the fourth quarter and are expected to help its revenue grow by around 4%-6% in 2024, the company reported late on Wednesday. Consulting firms and software companies, including Germany's SAP SE, account for much of IBM's AI-related bookings, IBM Chief Financial Officer James Kavanaugh told Reuters. IBM shares rose to a peak of $196.89, their highest since June 2013, adding about $20 billion to the company's market capitalization.

Intel on Thursday forecast revenue for the first quarter that could miss market estimates by more than $2 billion, as it grapples with uncertain demand for its chips used in the traditional server and personal computer markets. Shares fell 10% in after-hours trading, setting the stock up for a roughly $20 billion fall in market value on Friday if the losses held. Intel stock gained 66% in the past year, as the PHLX Semiconductor Index rose 53%. In an interview, Chief Executive Officer Pat Gelsinger said that the company's core businesses of PCs and servers were hitting seasonal low demand at the same time as noncore businesses such as auto chip firm Mobileye.

MSCI's broadest index of Asia-Pacific shares outside Japan held broadly steady and was on track for a weekly gain of 2%. Trading was thinned with Australia out on a holiday. Chinese stocks looked set to end the week on a strong footing as a wave of policy support from Beijing restored fragile investor confidence and put a floor under its sliding stock market. The blue-chip index rose 0.03% and was eyeing a 2% weekly gain, while the Shanghai Composite edged 0.3% higher, putting it on track for a 3% weekly rise, its largest since July 2023. Hong Kong's Hang Seng Index eased 0.41%, but was still more than 5% higher for the week, also its best performance since last July. In an attempt to shore up its fragile economic recovery, China's central bank announced a deep cut to bank reserves on Wednesday, in a move that will inject about $140 billion of cash into the banking system. Those came a day after Bloomberg News reported Chinese authorities are seeking to mobilise about 2 trillion yuan ($278.98 billion), mainly from the offshore accounts of Chinese state-owned enterprises, as part of a stabilisation fund to buy shares. «We remain cautious on China, in line with our view for several years,» said John Pinkel, a partner and portfolio manager at Indus Capital. «We see evidence of selling induced by structured 'snowball' products, especially from onshore China sources.

South Korea's SK Hynix Inc., the world's second-largest memory chipmaker, announced a return to profitability in the fourth quarter of 2023. The company recorded an operating profit of 346 billion won ($259.8 million), significantly outperforming market expectations of a 192 billion won operating loss. This marks a stark contrast to the 1.9 trillion won loss reported in the same quarter a year earlier. The profit is attributed to a surge in revenue by 47%, driven by strong demand for AI-focused memory chips.

75th Republic Day, with six individuals receiving Padma Shri awards and one foreigner being honoured with a Padma Bhushan award. However, the list also featured recipients from non-resident Indian (NRI), person of Indian origin (PIO), and overseas citizenship of India categories. One foreign recipient was honoured with the Padma Vibhushan, while three foreigners, all of Indian origin, were bestowed with the Padma Bhushan.

In the volatile cryptocurrency market, investors continually seek emerging assets that offer exceptional profit potential. As we progress into 2024, this quest gains increasing relevance, with attention pivoting toward cryptocurrencies like Pandoshi (PAMBO) that exhibit immense room for growth. Looking deeper, this examination spotlights Pandoshi’s favorable position to potentially yield double digit returns in 2024, establishing its standing against prevading options like Shiba Inu.

Elon Musk hinted slowdown in sales this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition, according to a Reuters report. Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on January 25. That pushed its market capitalization loss for the month to about $210 billion.

World Trade Organization’s (WTO) 13th ministerial conference to refrain from extending a moratorium on imposing customs duties on electronic transmissions would impact the semiconductor design ecosystem in India, industry bodies told ET. The moratorium expires in February-March this year. WTO members had agreed against imposing customs duties on electronic transmissions since 1998 and the moratorium has been periodically extended at successive ministerial conferences, which is the highest decision-making body of the 164-member organisation.

Billionaire Joe Lewis, who has connections to FTX founder Sam Bankman-Fried, pleaded guilty to insider trading charges in Manhattan federal court on Wednesday.

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(Reuters) -Intel forecast quarterly revenue below market estimates on Thursday as it grapples with uncertain demand for its chips used in the traditional server and personal computer markets.

Shares of T-Mobile (TMUS) fell 2.3% in after-hours trading Thursday after the wireless network operator reported Q4 2023 results.

Resilinc Aerospace and Defense Division President Peter Guinto breaks down the supply chain 'nightmare' on 'The Claman Countdown.'

Italian Premier Giorgia Meloni is slamming carmaker Stellantis, accusing it of weakening Italy’s industrial footprint since the merger of FiatChrysler and Peugeot that created the world’s fourth largest auto maker

Shares of Tesla are tumbling at the opening bell as the electric vehicle, solar panel and battery maker warns investors of slower sales growth this year after posting fourth-quarter profits that were weaker than most had expected

Temu, the China-founded online retailer surging in popularity in the United States, is opening its platform to U.S. and European sellers

New Delhi: A 15-member team from the European Union (EU) will travel to New Delhi on 19 February for a week of deliberations on a free trade agreement (FTA) with India, two people aware of the matter said. The upcoming seventh round of negotiations is expected to centre on services and investments, building on earlier talks that covered goods and public procurement. Key issues include India’s trade disputes at the World Trade Organization regarding products like mobile phones and components, as well as integrated circuits and optical instruments, said one of the persons cited above, requesting anonymity.

₹1,434.90. Tepid results by Kotak Bank, IndusInd and Axis Bank have added to the bearishness as the results came in-line, or below Street expectations. Heavy selling in banking stocks dragged down the weightage of financial services sector on the Nifty 50 to 33.43% on 18 January from 35.26% on 29 December.

Take a deep dive into a new profitable project, Algotech (ALGT), with more promising tales than Dogecoin’s (DOGE) surge, hinting at a $1 valuation.

Investing.com — U.S. stocks rose Thursday, boosted by stronger-than-expected economic growth while investors digested a deluge of corporate earnings.

By Pratyush Thakur and Mike Stone