Major indices in the US stock markets on Thursday’s session closed mixed with Nasdaq 100 hitting a record high mainly driven by technology and chip stocks such as NVIDIA Corp which rose by as much as 4.24%.
The Nasdaq 100 was up 1.29% at market close, the Dow Jones ended Thursday’s session 0.62% lower while the S&P 500 closed unchanged.
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Microsoft CEO Nadella appointed board chairman
Independent directors of Microsoft Corp.’s board unanimously decided to elect CEO Satya Nadella as board chair.
Nadella, who will retain the CEO post in addition to the new role, “will lead the work to set the agenda for the board, leveraging his deep understanding of the business to elevate the right strategic opportunities and identify key risks and mitigation approaches for the board’s review,” the company specified. At the same time, John W. Thompson has been reappointed as the lead independent director.
The tech giant also announced that quarterly dividends will amount to $0.56 per share and that they will be payable on September 9 to shareholders who are registered on August 19.
Adobe Q2
Adobe Inc. posted on Thursday its second-quarter earnings report for fiscal 2021, reporting a surge of 23% in revenue which reached $3.84 billion. The company’s diluted earnings per share stood at $2.32, with operating income at $1.41 billion and net income at $1.12 billion.
“Adobe had an outstanding second quarter as Creative Cloud, Document Cloud and Experience Cloud continue to transform work, learn and play in a digital-first world,” CEO Shantanu Narayen noted in the report.
Adobe’s stocks rose 1.93% in the after-hours trading to sell for $562 per share following the earnings announcement.
Google AMD Partnership
Google Cloud announced a partnership with Advanced Micro Devices Inc.’s (AMD) 3rd generation EPYC processors for its newest service the Tau Virtual Machines (VMs).
According to the company’s statement, the Tau VMs are meant to optimize scale-out workloads, as well as to provide integration with other applications of the same type. Additionally, the company touted that the new service can deliver more than 40% better performance for that price range, as it stated that they are focused on delivering “compute-heavy, business-critical applications.”
NVIDIA Corp $100M Investment in UK’s largest supercomputer
Meanwhile, NVIDIA Corp. announced that it is investing $100 million into the United Kingdom’s largest supercomputer.
“Cambridge-1, that supercomputing center is, call it a $100 million, just as a starting point. I mean, it’s a big investment. It is the most powerful supercomputer in the U.K., and researchers are super excited about it,” CEO Jensen Huang said.
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