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10/06/21 10:53
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Charting the Markets: 30 May FTSE 100 lower while DAX moves higher in early trading, and Dow looks to edge up following reports of debt ceiling deal. EUR/USD declining and USD/JPY holding firm, while GBP/USD begins to show signs of a higher low. Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 30 May 2023 Gold’s pullback slows down, while Brent crude turns lower and natural gas struggles to hold the 50-day MA. This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
Artificial intelligence (AI) is the new big hot topic. Jeremy Naylor | Analyst, London | Publication date: Tuesday 30 May 2023 After NVIDIA last week reported a massive earnings and revenue beat, the company is now building Israel's most powerful AI supercomputer. It will cost hundreds of millions of dollars, but the computational power proposal is astonishing. The system, called Israel-1, is expected to deliver the performance of up to eight exaflops of AI computing. One exaflop is a standard measure of performance for a supercomputer. Exa is short for quintillion, a 1 followed by 18 zeros, which means one exaflop has the ability to perform one billion-billion calculations per second. This proposal from NVIDIA is to build a computer which can perform eight times that amount of calculations per second. The report suggests that the system will be partly operational by the end of 2023. (Video Transcript) More good news for NVIDIA NVIDIA, the artificial intelligence (AI) specialist which makes semiconductors for computers, reported some stellar earnings last week, both earnings and revenues up, and the outlook extremely robust as a result of its association with artificial intelligence or AI chips. Yesterday, NVIDIA came out with some more news. It's announced it is building Israel's most powerful AI semi-computer and the numbers are astonishing. The system is called Israel-1. It's expected to deliver the performance of up to eight exaflops of AI computing. Now, what is an exaflop? Well, that's a good question. One exaflop has the ability to perform one billion-billion calculations per second. Now, the system will cost hundreds of millions of dollars and will be partly operational by the end of 2023. This will mean that Israel through this computer will be able to engage far quicker with AI computing and it will help extra elements. Share price chart Let's take a look at what's happening in NVIDIA stock as we speak all-sessions on the IG platform. This is early trade. We are very, very close to going to a new all-time high and I suspect we could well end up seeing this creep up, even as we speak. It is currently trading at $398.74. This is a candle here where you can see we've gone at the bottom and we're currently at the top. There are no sellers in this stock. And I predict that sometime today, we will see a new all-time record high. Last week, NVIDIA stock jumped more than 25%, or around about a quarter of its total value, on the back of its quarterly earnings. And you can see at the moment we are punching higher as we speak. So, NVIDIA very much the front and center of AI computing and it's benefiting this morning from that news in Israel.
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HP, all-sessions on the IG platform, is reporting its fiscal second quarter (Q2) earnings and revenue after tonight's US closing bell. Jeremy Naylor | Analyst, London | Publication date: Tuesday 30 May 2023 The Street forecasts earnings of 76 cents per share, which would be a drop of about 29% from the same quarter a year ago. Revenue is expected to decline by 21% year-on-year to just over $13 billion, a performance that reflects the continuing fall in demand for PCs. Shares of the personal computer and printer maker have lost about 13% of their value over the past 12 months. But so far this year the stock has gained about 15% thanks to two consecutive better-than-expected quarterly reports. (Video Transcript) HP earnings HP is expected to report after the closing bell tonight. The Street forecasts earnings of $0.76 per share, which will be a drop of around 29% from the same quarter this time last year. Revenue is expected to drop by 21% year-on-year to just over $13 billion, a performance that reflects a continuing fall in PC demand. Now Hewlett Packard is all-sessions on the IG platform. The personal computer and printer maker's shares have lost about 13% of their value of the last 12 months so far this year. Share price chart If we have a look at the chart here for Hewlett Packard, you can see as of Friday's all-sessions close it beat the previous high, 3116 closing at 3136, the highest close that we've seen there in this market since the 29th of August last year. It's 15% up so far this year, thanks to two consecutive better than expected quarterly reports. Now, its spinoff company, HPE, which is Hewlett Packard Enterprise. It's not all-sessions on the platform, and a very different fate over the past 12 months, broadly unchanged over the period. The stock has lost around 7% in the last five months, despite beating estimates and raising forecasts three months ago. HPE also releasing its quarterly earnings tonight after the bell. Analysts anticipate a 9% rise in its earnings per share, $0.49. We've got a chart showing you what's expected. Revenue is also expected to rise by 7% to $7.31 billion. That stock is not all-sessions on the platform. You can trade all-sessions on Hewlett Packard after the bell on its figures.
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