Chipmaker Micron Technology forecast third-quarter revenue above Wall Street expectations, betting on a surge in demand for its memory chips used in artificial intelligence hardware.
Memory chipmaker Micron’s revenue beats estimates
Crypto exchange Kraken freezes IPO plans
Cryptocurrency exchange Kraken has put its multibillion-dollar initial public offering plan on hold, CoinDesk reported. The company is still weighing an IPO, but is unlikely to move ahead until market conditions improve.
Nvidia restarting manufacturing of China AI chip variant
Nvidia is restarting manufacturing of one of the company’s chips that is designed to comply with U.S. export restrictions on China, CEO Jensen Huang said. The company had halted production last year of its H200 chip, because of increasing regulatory hurdles in the U.S. and China.
Gold steady as markets track Iran tensions
Gold prices held near steady, as market participants monitored the intensifying Iran conflict and awaited the U.S. Federal Reserve’s upcoming policy decision. U.S. gold futures for April delivery settled 0.1% higher.
Mastercard agrees to acquire BVNK in $1.8B stablecoin deal
Mastercard has agreed to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion, further expanding into blockchain-based payments. The deal includes up to $300 million in contingent payments and is intended to strengthen Mastercard’s ability to connect fiat payment rails with onchain transactions.
Oil prices slide 3% as some ships transit Strait of Hormuz
Oil prices slid about 3% after some vessels sailed through the critical Strait of Hormuz, even as U.S. allies rebuffed President Donald Trump’s call for help in unblocking the strait, and as the head of the IEA suggested more reserves could be released to stem the rising costs caused by the Iran war.