(Reuters) -Applied Digital topped Wall Street estimates for quarterly revenue on Wednesday, buoyed by artificial intelligence-driven demand for its cloud infrastructure.
Shares of the Dallas, Texas-based data center operator jumped 7% in extended trading.
Surging demand for AI, machine learning, blockchain and cloud services has driven increased interest in Applied Digital's offerings.
The company delivers managed cloud... (continue reading...)
(Reuters) -Allstate reported a jump in second-quarter profit on Wednesday, driven by strong underwriting performance and increased investment returns.
Property and casualty insurers benefited during the quarter as individuals and businesses continued spending on insurance policies amid macroeconomic uncertainty and concerns over severe weather-related catastrophes.
Underwriting income in Allstate's property-liability segment jumped to $1.28... (continue reading...)
By Marta Nogueira
RIO DE JANEIRO (Reuters) -Energy companies operating in Brazil are expected to resume oil shipments to the United States after several oil products were exempted from U.S. tariffs, the head of Brazilian oil lobby group IBP told Reuters on Wednesday.
Oil is Brazil's top export to the U.S. and was exempt from the 10% April tariff imposed on Brazilian exports, but uncertainty over whether the commodity would be exempt under new... (continue reading...)
By Ryan Patrick Jones
TORONTO (Reuters) -The Canadian province of Ontario has canceled a C$100 million ($68.12 million) satellite high-speed internet contract with Elon Musk's company Starlink, following through with a vow by the province's premier to cut ties in retaliation for U.S. tariffs imposed on Canada.
Stephen Lecce, Ontario's minister of energy and mines, confirmed the cancellation of the contract for internet services at an... (continue reading...)
(Reuters) -Lam Research forecast first-quarter revenue above Wall Street expectations on Wednesday, driven by strong demand for its specialized chip-making equipment used in developing advanced artificial intelligence processors, sending its shares up over 4% in extended trading.
Demand for Lam's equipment has been bolstered by a surge in orders for artificial intelligence semiconductors, with chip designers striving to develop advanced processors to meet... (continue reading...)
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