cnbc_topnews

AMD's revenue climbs 50% and data center sales doubled, but the stock is down

📰 source: cnbc_topnews · 💼 business

amd reported second-quarter earnings tuesday that beat expectations, but the stock slumped in extended trading. revenue hit $11.54 billion, up 50% from a year ago, with adjusted eps of $1.66 versus $1.62 expected. data center sales were the driver at $6.7 billion, up 107% on cpu and gpu sales.

amd guided to about $13 billion in revenue for the current quarter, ahead of the $12.52 billion consensus but below some analysts' $14 billion hopes. the company also said it will start shipping helios, its first rack-scale ai system, this year to meta, openai, and oracle. cfo jean hu said data center sales should accelerate in the second half of 2026.

client and gaming revenue was only up 6% to $3.8 billion, while embedded grew 19% to $977 million. net income came in at $2.3 billion, or $1.38 per share, versus $872 million a year ago.

why it matters: ai chip growth is real, but this quarter shows investors are pricing in even more, making the stock more sensitive to misses.

source: cnbc_topnews
sentiment: -0.30 · impact: 0.70

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects