Chipmaker Nvidia (NVDA) is planning to invest hundreds of billions of dollars in chips and other electronics made in the US over the next four years, according to a Financial Times report.
"I think we can easily see ourselves manufacturing several hundred billion of it here in the US," Jensen Huang, CEO of Nvidia, told the FT.
Nvidia's plans come as other tech companies look to onshore more of their business, as US president Donald Trump pushes ahead with trade tariff plans. TSMC (2330.TW, TSM), which manufactures chips designed by Nvidia, recently announced that it would invest $100bn (£77.3bn) in the US.
"TSMC investing in the US provides for a substantial step up in our supply chain resilience," Huang reportedly said.
Nvidia has been holding its annual GPU Technology Conference this week, with Huang unveiling the company's next-generation Blackwell Ultra artificial intelligence (AI) chip in a keynote speech on Tuesday.
Shares in Nvidia closed Wednesday's session up nearly 2% and had risen 1.6% in pre-market trading on Thursday, at the time of writing. However, the stock is still down 12.5% year-to-date, as concerns over the level of spending on AI by major US tech companies linger, in the wake of Chinese startup DeepSeek's release of a lower cost model.
Shares in Boeing (BA) rose nearly 7% on Wednesday, after the US planemaker chief financial officer (CFO) offered a more upbeat outlook on cash flow.
Speaking at a Bank of America (BAC) industrials conference on Wednesday, Boeing CFO Brian West said that the company's cash flow could improve in the first quarter by "hundreds of millions" of dollars, according to a Reuters report.
Boeing has faced a series of issues, including safety and quality control crises, as well as labour strikes. The company ended 2024 with revenue down 14% to $66.5bn, posting a net loss of $11.8bn.
West said on Wednesday that while the company was concerned about the impact of Trump's tariffs on the availability of parts, he said that planemaker has enough inventory for the time being.
This comes as CEO Elliott Hill, who took the helm in October, seeks to turnaround the business.
Hill warned on a second quarter earnings call in December that the turnaround would be challenging, as he looked to put sport back at the core of the company's focus and reinvest in brand storytelling.
Nike beat forecasts in the second quarter, with revenue of $12.35bn besting estimates of $12.13bn, though this was still down from the $13.39bn it reported in the previous year. Adjusted earnings per share of $0.78 were also ahead of estimates of $0.63, but were under the $1.03 for the same quarter of the previous year.
Shares in Shopify (SHOP) surged 8% on Wednesday, after the Canadian e-commerce platform announced that it was transferring its listing to the Nasdaq (^IXIC) from the New York Stock Exchange (NYSE).
In an announcement on Tuesday, Shopify said that it expected its class A shares to cease trading on the NYSE at market close on Friday 28 March and will begin trading on the Nasdaq on Monday 31 March.
The company said its listing (SHOP.TO) on the Toronto Stock Exchange (TSX) would not be impacted, and that class A shares would continue to be listed under the stock ticker "SHOP" on both the TSX and the Nasdaq (^IXIC).
Shares in Shopify are down nearly 5% year-to-date, despite the firm reporting revenue growth of 26% for 2024 at $8.9bn, in results released last month. Shopify also reported an increase in operating income to $1.08bn, up from a loss of $1.4bn in 2023.
Insurer Prudential (PRU.L) posted a 10% increased in adjusted operating profit before tax at $3.1bn for 2024.
New business profit rose 11% to $3.08bn for the year, with the company expecting this to grow by more than 10% in 2025. Prudential said it also expected to see double-digit growth in basic earnings per share in 2025. Prudential's total dividend for 2024 of 23.12 cents per share was up 13%.
Matt Britzman, senior equity analyst at Hargreaves Lansdown (HL.L), said that "Prudential has not only delivered the profit growth it promised but also exceeded expectations with a stronger-than-expected dividend.
"The Prudential appeal is starting to come through, with insurance penetration rates in Asia still low and growing demand for long-term savings and protection products," he said. "The outlook set a positive tone too, with a 10% jump expected across pretty much every key metric, including the important dividend."
