business

J. Edward Moreno

1/29/25

Fiber-optic cable maker Corning beat estimates, but investors still have the DeepSeek scaries

Corning Inc. beat Wall Street estimates for its final quarter of 2024, in large part because of higher demand for its fiber-optic cables used to build data centers.

The company is a vital node in the AI supply chain: it sells materials needed for data centers, which are needed to power the generative artificial intelligence products. That specific segment, its “Optical Communications Enterprise” business, saw sales grow 93% year over year, Corning reported Thursday.

The company reported a core net income of $497 million for the last three months, which is a 47% increase compared to the same period last year and more than the $482.7 million analysts polled by FactSet expected.

Despite beating expectations, Corning’s share price reversed early gains of as much as 8% to fall nearly 2% Thursday morning, and is down 6.7% over the past week.

Over the weekend, AI investors were spooked by DeepSeek, a Chinese startup that appeared to prove that generative AI can be done more efficiently.

That could be bad news for companies like Corning or Nvidia, which have seen their sales grow from the emergence of the resource-intensive technology. If it’s true that generative AI requires fewer resources, that could mean fewer data centers, fewer chips, and fewer fiber-optic cables.

That is, unless, the Jevons Parodox prevails.

Despite beating expectations, Corning’s share price reversed early gains of as much as 8% to fall nearly 2% Thursday morning, and is down 6.7% over the past week.

Over the weekend, AI investors were spooked by DeepSeek, a Chinese startup that appeared to prove that generative AI can be done more efficiently.

That could be bad news for companies like Corning or Nvidia, which have seen their sales grow from the emergence of the resource-intensive technology. If it’s true that generative AI requires fewer resources, that could mean fewer data centers, fewer chips, and fewer fiber-optic cables.

That is, unless, the Jevons Parodox prevails.

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7h

Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Chris Stokel-Walker11h

Claire Yubin Oh

Shake Shack is launching a French onion soup... burger

The fast-casual chain will be hoping premium upsells can fatten up its profit margins.

Shake Shack French onion soup burger

business

9/11/25

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

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