Steve Cohen's Point72 Asset Management is set to launch a new hedge fund with a focus on artificial intelligence, aiming to raise approximately $1 billion.
Broadcom Inc. (NASDAQ: AVGO) shares are trading higher Monday afternoon. The significant rise follows the company's impressive second-quarter financial results, robust revenue guidance and the announcement of a 10-for-1 forward stock split.
China's Semiconductor Manufacturing International Corp. (SMIC) is ramping up chip production using domestic tools at its new Jingcheng facility, aiming to counteract U.S. export restrictions and reduce reliance on American technology.