Codelco is seeking a combined $2 billion in cost savings and additional revenue by integrating the operations of three copper mines as the state-owned Chilean company tries to offset the impact of stagnating output and rising debt. The plan to integrate the Chuquicamata, Radomiro Tomic and Ministro Hales mines in the north of the country was recently presented by management to Codelco’s board of d...
Codelco is seeking a combined $2 billion in cost savings and additional revenue by integrating the operations of three copper mines as the state-owned Chilean company tries to offset the impact of stagnating output and rising debt. The plan to integrate the Chuquicamata, Radomiro Tomic and Ministro Hales mines in the north of the country was recently presented by management to Codelco’s board of directors, according to people familiar with the situation, who asked not to be identified discussing confidential information. The plan envisages gains beginning to kick in as soon as 2027 as a result of unifying operational planning for the mines and sharing processing plants, possibly under a single management structure, the people said. Codelco didn’t immediately respond to requests for comment. The proposed mine integration is part of a company-wide, four-year production plan that Codelco intends to present to the government in the coming months. Like other copper producers, Codelco is facing inflationary pressures that have eroded the benefits of record prices for the metal. War in the Middle East has driven up the cost of energy and sulfuric acid, a key input for copper processing. Declining ore grades are also forcing producers to process a greater volume of rock to maintain output. Read More: Codelco Critic Tapped to Lead Board as Chile Seeks Overhaul The need to improve efficiency is especially acute for Codelco given its heavy debt load and spending commitments. The company is already busy integrating a central Chile operation with an adjacent Anglo American Plc mine, and it increasingly relies on private-sector partnerships for exploration projects. The proposed reorganization at Codelco’s northern mines would include sending ore from one pit to another’s plants and blending material to better align with customer needs, according to the people. One option would entail cutting management roles, although on-the-ground teams would remain intact, the people said. Tal...
Canadian AI lab Cohere made waves recently by announcing a merger with German AI startup Aleph Alpha , but now it has even more in store for enterprise builders around the globe: today, the firm co-founded by former Googler and "Attention Is All You Need" co-author Aidan Gomez unveiled Command A+ , a highly optimized, 218-billion-parameter language model engineered specifically for complex reasoni...
Canadian AI lab Cohere made waves recently by announcing a merger with German AI startup Aleph Alpha , but now it has even more in store for enterprise builders around the globe: today, the firm co-founded by former Googler and "Attention Is All You Need" co-author Aidan Gomez unveiled Command A+ , a highly optimized, 218-billion-parameter language model engineered specifically for complex reasoning, multimodal document processing, and agentic workflows. The most significant aspect of the release is not just the model’s capabilities; it is its accessibility. By releasing the model weights free on the popular AI code sharing repository Hugging Face under a highly permissive Apache 2.0 open-source license — a first for the company, according to a post by Gomez, now Cohere's CEO, on X — Cohere is making a calculated bet on "sovereign AI"—the thesis that enterprises, governments, and developers should have the ability to run, control, and adapt frontier-grade AI entirely within their own secure environments, without sacrificing performance. Sparse architecture with extreme quantization At the architectural level, Command A+ represents a major evolution from Cohere’s previous dense models. It is a decoder-only Sparse Mixture-of-Experts (MoE) Transformer. While the model houses a relatively modest 218 billion total parameters, even fewer — only 25 billion — are active during any given generation step. It's a much lighter footprint and requires far less compute resources to run in inference (serving the model in production environments to end users or via agents) than the proprietary U.S. giants like OpenAI's GPT-5.5 and Anthropic's Claude Opus 4.7, which are estimated by third-party observers to be in the trillions of parameters. This sparse architecture is the key to the model’s efficiency. In plain terms, an MoE model routes incoming queries only to the specific "expert" neural networks best suited to handle them, leaving the rest of the model dormant. This is a familia...
The S-1 IPO registration statement for Elon Musk’s rocket company SpaceX arrived late Wednesday afternoon. Investors can download it here. The IPO is expected to raise a record amount of money, valuing Elon Musk’s company at roughly $2 trillion—enough to turn the world’s richest person into a trillionaire.
The S-1 IPO registration statement for Elon Musk’s rocket company SpaceX arrived late Wednesday afternoon. Investors can download it here. The IPO is expected to raise a record amount of money, valuing Elon Musk’s company at roughly $2 trillion—enough to turn the world’s richest person into a trillionaire.
BING-JHEN HONG/iStock Editorial via Getty Images It is a sad state of affairs that the entire U.S. market has been vacillating yesterday and today, all about the Nvidia Corporation ( NVDA ) quarterly report for the just-ended quarter and the level of share buybacks it intends to pursue going forward. Hundreds of thousands of trades were made yesterday, many on the downside, as the cloudy crystal b...
BING-JHEN HONG/iStock Editorial via Getty Images It is a sad state of affairs that the entire U.S. market has been vacillating yesterday and today, all about the Nvidia Corporation ( NVDA ) quarterly report for the just-ended quarter and the level of share buybacks it intends to pursue going forward. Hundreds of thousands of trades were made yesterday, many on the downside, as the cloudy crystal balls were not in agreement. Hundreds of thousands more trades were made today, with many believing that if NVDA skyrockets, it will carry the rest of the market with it. Now we know The Answer , direct from Nvidia's earnings press release : NVIDIA [NASDAQ: NVDA] today reported record revenue for the first quarter ended April 26, 2026, of $81.6 billion, up 20% from the previous quarter and up 85% from a year ago. For the quarter, GAAP and non-GAAP gross margins were 74.9% and 75.0%, respectively. For the quarter, GAAP and non-GAAP earnings per diluted share were $2.39 and $1.87, respectively. “The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” said Jensen Huang, founder and CEO of NVIDIA. “Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries. NVIDIA is uniquely positioned at the center of this transformation as the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced — from hyperscale data centers to the edge.” I have nothing against *investing* in NVDA or any other AI company. But I hate to see newer investors racing now to buy NVDA or other peers, with prices bid up by exciting rhetoric from the companies, as well as some investors' tendency to think that getting rich quickly is better than getting much richer over a reasonable amount of time. I own Nvidia and several other AI darlings through several of my ETF holdings. But they are just part of a well-structure...
Anthropic PBC is on pace for its first profitable quarter after experiencing a surge in revenue driven by demand for its artificial intelligence software. The Claude maker expects to post $10.9 billion in revenue for the second quarter, more than doubling from the prior three-month period, according to a person familiar with the matter, citing figures disclosed to the startup’s investors. Anthropi...
Anthropic PBC is on pace for its first profitable quarter after experiencing a surge in revenue driven by demand for its artificial intelligence software. The Claude maker expects to post $10.9 billion in revenue for the second quarter, more than doubling from the prior three-month period, according to a person familiar with the matter, citing figures disclosed to the startup’s investors. Anthropic’s operating profit for the June quarter is expected to hit $559 million, said the person, speaking on condition of anonymity as the information is not public. The company does not necessarily expect to be profitable in future quarters as it ramps up spending on computing resources and other costs, the person said. Anthropic declined to comment. The Wall Street Journal previously reported the financial results. Once considered an underdog to rival OpenAI, Anthropic has been increasing revenue at a rapid pace thanks to advances in its AI agent tools, grabbing market share from enterprise customers. The company is in talks to raise a new round of funding at a more than $900 billion valuation, which would eclipse OpenAI’s most recent private market value. Anthropic is mulling an initial public offering as soon as October, Bloomberg News has reported. OpenAI is also aiming to go public as soon as this fall.
The S&P 500 (^GSPC +1.08%) rose 1.08% to 7,432.97, the Nasdaq Composite (^IXIC +1.54%) gained 1.54% to 26,270.36, and the Dow Jones Industrial Average (^DJI +1.31%) advanced 1.31% to 50,009.34 as falling oil and easing yields buoyed markets. Market movers AI hardware leaders lead the gainers, with AMD and Super Micro Computer climbing on renewed confidence. Nvidia increased 1.3% ahead of its post-...
The S&P 500 (^GSPC +1.08%) rose 1.08% to 7,432.97, the Nasdaq Composite (^IXIC +1.54%) gained 1.54% to 26,270.36, and the Dow Jones Industrial Average (^DJI +1.31%) advanced 1.31% to 50,009.34 as falling oil and easing yields buoyed markets. Market movers AI hardware leaders lead the gainers, with AMD and Super Micro Computer climbing on renewed confidence. Nvidia increased 1.3% ahead of its post-close earnings, but the stock slipped in after-hours trading. Software bellwethers such as Salesforce and cybersecurity name CrowdStrike recovered some ground. Hasbro fell by almost 9% despite an earnings beat as the gaming company remained cautious on its full-year guidance. What this means for investors After three straight days of declines, the S&P 500 gained today on hopes that an end to the U.S.-Iran war could be in sight. WTI crude fell 5% to $99 a barrel, and 10-year Treasury yields eased. The challenge for investors is that there have been several headline-driven waves of optimism since the conflict began at the end of February, and negotiations have not yet borne fruit. Once a deal is done, it will take time for oil supplies to return to normal. Anticipation about Nvidia’s earnings dominated sentiment today as traders looked to the artificial intelligence (AI) bellwether for signs that the rally in this booming sector has further to run. The firm beat analyst estimates but the initial reaction was muted, potentially because investors had hoped for a higher sales forecast.
Gabelli Funds Growth Portfolios Managing Director John Belton gives his initial reaction to Nvidia's first-quarter earnings report and forecast on "Bloomberg The Close."
Gabelli Funds Growth Portfolios Managing Director John Belton gives his initial reaction to Nvidia's first-quarter earnings report and forecast on "Bloomberg The Close."
Elon Musk's SpaceX has filed papers to go public on the Nasdaq under the symbol SPCX. SpaceX is targeting as much as $75 billion in its listing at a valuation of more than $2 trillion, people familiar with the matter have said. Ed Ludlow reports on "Bloomberg The Close." (Source: Bloomberg)
Elon Musk's SpaceX has filed papers to go public on the Nasdaq under the symbol SPCX. SpaceX is targeting as much as $75 billion in its listing at a valuation of more than $2 trillion, people familiar with the matter have said. Ed Ludlow reports on "Bloomberg The Close." (Source: Bloomberg)
Alexander Sikov/iStock via Getty Images Himax Technologies, Inc. ( HIMX ) just reported a lackluster Q1 performance , which was overshadowed by what seems like a turnaround in play, and finally, the company’s share price has seen real action since then. I wanted to go over the numbers and give some comments on the outlook. By The Numbers Revenues came in close to $200m, down 7.5% y/y, slightly bea...
Alexander Sikov/iStock via Getty Images Himax Technologies, Inc. ( HIMX ) just reported a lackluster Q1 performance , which was overshadowed by what seems like a turnaround in play, and finally, the company’s share price has seen real action since then. I wanted to go over the numbers and give some comments on the outlook. By The Numbers Revenues came in close to $200m, down 7.5% y/y, slightly beating estimates by around $4m. Breaking down revenue performance by segment for the quarter , large display drivers grew by close to 12% q/q, coming in at $24.2m, driven by better-than-expected restocking of high-end TV ICs. Small & Medium display drivers, the bread and butter, declined by 2.4% q/q, which reflects the typical Q1 seasonality. Inside SMDD, auto driver ICs declined by double digits due to the Lunar New Year seasonality, as well as inventory digestion and tapering of subsidies in China and the U.S. Smartphone driver ICs grew sequentially as new OLED solutions began mass production, and tablet ICs also increased q/q due to renewed demand; however, the increases in these segments only softened the overall blow, as the performance was still negative. Non-driver products experienced close to 8% q/q declines due to lower ASIC Tcon shipments and moderation in auto Tcon after strong comps earlier. On to the company’s profitability, gross margins came in essentially flat at 30.4%, at the top of the guided range previously, while its operating margin improved to 5.1% from 3.4% last quarter. However, if we look at the y/y performance, we can see that there is still a substantial compression from 9.2% in Q1 2025. Overall, q/q numbers look better, but we can see from the image below that most of the y/y comparisons are worse, especially in the profitability end of things. HIMX press release Let’s take a look at the company’s financial position in the latest quarter. HIMX had around $260m in cash and equivalents, against $21m in long-term debt. That is not a bad position to ...
陳國基率代表團完成德國訪問行程 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】政務司司陳國基率領大學城籌劃及建設組代表團完成德國訪問行程。 陳國基與應用科學大學聯盟成員包括本港多間院校校長到訪德國一個綜合大學城—...
陳國基率代表團完成德國訪問行程 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】政務司司陳國基率領大學城籌劃及建設組代表團完成德國訪問行程。 陳國基與應用科學大學聯盟成員包括本港多間院校校長到訪德國一個綜合大學城——海爾布隆教育校園，園區匯聚多所學術機構、應用研究中心和產業網絡。代表團又與園區的院校和市政府代表交流，了解各院校定位布局、管理經驗和合作模式，以及當地政府的投入。陳國基說應用科學大學成為園區推動產教融合，培育高質素應用型人才的重要支柱，這為香港正積極發展的應用科學大學提供了寶貴的國際借鑑。
Rangsarit Chaiyakun/iStock via Getty Images Par Pacific ( PARR ) is up over 70% YTD on the back of higher crude oil prices. The company is primarily the operator of refinery assets across Hawaii and the Pacific Northwest, and with crack spreads in their operating states at multi-year highs, the company's operational leverage has been on full display, effectively printing cash flow. The focus now s...
Rangsarit Chaiyakun/iStock via Getty Images Par Pacific ( PARR ) is up over 70% YTD on the back of higher crude oil prices. The company is primarily the operator of refinery assets across Hawaii and the Pacific Northwest, and with crack spreads in their operating states at multi-year highs, the company's operational leverage has been on full display, effectively printing cash flow. The focus now shifts to whether or not these crack spreads can be sustained and the potential effect on PARR should they subside. While the company seems to be a great SMID-cap integrated energy company that investors should absolutely continue to pay attention to, I see clear downside risk from here. The Multi-Faceted Energy Story Par Pacific is an energy company that has a variety of operations. They have an integrated logistics network that has 13 MMbbls of storage, as well as marine, rail, and pipeline assets. The company also has a system-wide refining capacity of 219,000 bpd. On top of that, the company has 115 fuel retail locations in Hawaii and the Pacific Northwest under the brands Hele and nomnom and a licensing of the 76 brand. As a result, the company has three primary operating segments: refining, retail, and logistics. In terms of mix , refining is the vast majority of revenue at 96.5%, while logistics is 4% of revenue and retail is 7.7% of revenue. Naturally, this is over 100%, so there is a corporate elimination of 8.3% to offset. This heavy refining mix is true at the operating income level as well, with refining accounting for over 90% of operating income. The company's refining operations are spread across Hawaii, Montana, Washington, and Wyoming. The Hawaii refinery is of the utmost performance, to the point that the company reports separate operating statistics for it in its earnings reports. The company's refinery produces 39% distillates, 35% gasoline, 14% LSFO - which is low sulfur fuel oil used as marine bunker fuel, 7% asphalt, and 5% other products. The company ...
NVIDIA (NVDA) adds $80 billion to share buyback program and increases dividend payout by 2400% NVIDIA is buying back its own stock in an effort to return money to shareholders. As part of NVIDIA’s latest earnings release, the company shared updates on other aspects of its business. This included the announcement that NVIDIA has added $80 billion to its share buyback program. The announcement can b...
NVIDIA (NVDA) adds $80 billion to share buyback program and increases dividend payout by 2400% NVIDIA is buying back its own stock in an effort to return money to shareholders. As part of NVIDIA’s latest earnings release, the company shared updates on other aspects of its business. This included the announcement that NVIDIA has added $80 billion to its share buyback program. The announcement can be found in NVIDIA’s Q1 FY27 earnings release. With this move, the tech company is looking to increase its quarterly cash dividend from $0.01 per share to $0.25 per share. During the first quarter of fiscal 2027, NVIDIA returned a record level of approximately $20.0 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the first quarter, the company had $38.5 billion remaining under its share repurchase authorization. On May 18, 2026, the Board of Directors approved an additional $80.0 billion to the Company’s share repurchase authorization, without expiration. NVIDIA is increasing its quarterly cash dividend from $0.01 per share to $0.25 per share of common stock, which will be paid on June 26, 2026, to all shareholders of record on June 4, 2026. In addition to the buyback news, NVIDIA reported a beat on both revenue and EPS expectations in its latest quarter. Shacknews staff does not use generative artificial intelligence (AI) in their content. Shacknews strictly prohibits the use of its content for AI training or to generate text, including text in the style or format used for this publication. Shacknews reserves all rights to this work.