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Economy & Finance

Nvidia

Nvidia is set to replace Intel in the prestigious Dow Jones Industrial Average, reflecting the changing landscape of the semiconductor industry. Intel, once dominant, has struggled recently, missing opportunities in AI and losing manufacturing ground to competitors like TSMC. Nvidia, valued at a striking $3.32 trillion, owes its success largely to its role in the AI boom, with its graphics processors becoming essential in data centers and generative AI applications. Intel, meanwhile, has seen its stock drop by 54% this year, partly due to challenges in transitioning its business. This change in the Dow highlights Nvidia's growing influence as a leading tech force and marks a significant moment in Intel’s ongoing transformation.

Technology

Apple

Apple has announced a significant investment in satellite company Globalstar, pledging up to $1.5 billion to bolster its iPhone communication services. The investment includes $1.1 billion in cash, along with a $400 million equity stake, giving Apple a 20% share in Globalstar. Following the news, Globalstar's stock surged over 30%, while Apple’s declined by 1.4%, likely influenced by the company’s modest revenue growth forecast. Globalstar will allocate 85% of its network capacity to Apple, aiming to improve connectivity for users in underserved areas. Part of the funding will also go toward reducing Globalstar's debt. The transaction is expected to finalize on Tuesday.

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