(Reuters) – Lumen Applied sciences reported an enormous quarterly internet lack of $8.74 billion on Tuesday, hit by an impairment cost of almost $9 billion within the second quarter. Shares of the Monroe, Louisiana, firm, which has misplaced greater than 61% of its worth this yr, fell greater than 8% in post-bell commerce. The corporate, whose second-quarter loss was greater than 4 instances its market worth of $2 billion, was down sharply from a revenue of $344 million a yr earlier. Lumen stated it posted a non-cash impairment cost of $8.8 billion within the first quarter, as a result of

Written by Max A. Cherny and Shafi Mehta (Reuters) – Superior Micro Units on Tuesday forecast a powerful fourth quarter and expects to have AI gadgets that may problem Nvidia chips by then. Shares are up about 3.5% in after-hours buying and selling. AMD CEO Lisa Su mentioned that AMD is getting ready to extend manufacturing of MI300 AI chips within the fourth quarter. The MI300 AI accelerator chips are designed to compete with the superior H100 chips already being bought by Nvidia, though they’re briefly provide. Su mentioned buyer curiosity within the firm’s MI300 sequence chips is “very excessive”