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Broadcom Sees Revenue Below Estimates on Weak Enterprise Spending

By Arsheeya Bajwa and Chavi Mehta (Reuters) -Chipmaker Broadcom forecast annual revenue below Wall Street estimates on Thursday, as weak enterprise spending and stiff competition cast a shadow on its acquisition of VMware. Shares of San Jose, California-based Broadcom, which recently closed its acquisition of the cloud computing firm, fell more than 1% in extended […]
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AMD Forecasts $45 Billion AI Chip Market This Year, $2 Billion in Sales in 2024

By Max A. Cherney (Reuters) -AMD estimated there was a $45 billion market for its data center artificial intelligence processors this year as it launched a new generation of AI chips on Wednesday. The total addressable market forecast is up from AMD’s $30 billion estimate in June. Advanced Micro Devices announced two new AI data […]
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Mastercard to Buy Back Shares Worth $11 Billion

(Reuters) – Mastercard on Tuesday said its board had approved a new share repurchase program, authorizing the company to buy back up to $11 billion of its Class A shares. The payments processing giant also raised it s quarterly dividend to 66 cents per share over previous dividend of 57 cents. The company said its […]
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Rockstar Games sets ‘GTA VI’ launch for 2025 in game’s first trailer

By Aditya Soni (Reuters) -Rockstar Games lined up its much-awaited “Grand Theft Auto VI” for a 2025 launch in the first trailer for the videogame, disappointing some investors who expected the latest installment of the best-selling franchise to release sooner. Shares of parent Take-Two Interactive Software, which have rallied 50% this year, fell nearly 2% […]
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Resurgent S&P 500 Crests New 2023 Closing High After Roller-Coaster Year

By Lewis Krauskopf (Reuters) -A searing late-year rally has brought the S&P 500 to a fresh 2023 closing high, as investors bet the Federal Reserve is done raising interest rates and the U.S. economy will remain resilient in the face of tighter monetary policy. The benchmark index closed at 4,594.63, nearly 6 points above its […]
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Broadcom to Lay Off 1,300 VM Ware Employees Following Takeover

(Reuters) – Chipmaker Broadcom will lay off about 1,300 VMware employees in California following its acquisition of the cloud-computing firm, Bloomberg News reported on Thursday. Broadcom did not immediately respond to a Reuters request for comment. The chipmaker will also review strategic options for two business units of VMware, Insider had reported on Wednesday, citing […]
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Disney CEO Iger promises 2026 exit, says ABC not for sale

By Lisa Richwine LOS ANGELES (Reuters) -Walt Disney Chief Executive Bob Iger said on Wednesday he would “definitely” step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale. In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was “bullish” on […]
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Charlie Munger, who was Warren Buffett’s right-hand man at Berkshire, dies at 99

By Jonathan Stempel (Reuters) -Warren Buffett’s trusted confidante Charlie Munger died on Tuesday at age 99, leaving a void at Berkshire Hathaway that investors said would be impossible to fill despite the conglomerate’s well-established succession plan. Berkshire said Munger died peacefully at a hospital in California, where he lived. No cause was given. Munger would […]

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    Broadcom Sees Revenue Below Estimates on Weak Enterprise Spending

    December 7, 2023

    By Arsheeya Bajwa and Chavi Mehta (Reuters) -Chipmaker Broadcom forecast annual revenue below Wall Street estimates on Thursday, as weak enterprise spending and stiff competition cast a shadow on its acquisition of VMware. Shares of San Jose, California-based Broadcom, which recently closed its acquisition of the cloud computing firm, fell more than 1% in extended […]
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