KKR Rises, American Airlines Gains, and Alphabet Up as Google Steps Up Nvidia Rivalry With New Versions of AI Chips

 

On this episode of Stock Movers:

- KKR (KKR) shares rise. KKR & Co. reported a third-quarter profit that beat analysts’ estimates as its Strategic Holdings unit mitigated a slump at its Global Atlantic insurance arm. Adjusted net income climbed 29% to $1.65 billion, or $1.78 a share, beating the $1.57 average estimate of analysts in a Bloomberg survey. KKR expects to return more than $40 billion to clients this year, exceeding its prior record by more than 50%, according to the statement.

- American Airlines (AAL) shares rise. Travel stocks are broadly higher Monday morning as oil extends losses on growing optimism over diplomatic efforts to end the war in the Middle East, even as attacks in the region continue.

- Alphabet (GGOGL) shares rise. Alphabet Inc.'s Google is rolling out a broader array of artificial intelligence chips, aiming to capitalize on its rapid ascent as a challenger to Nvidia Corp. The company is introducing two new variations of its tensor processing units, or TPUs, custom-made semiconductors that help develop and run AI software, which will address the need for confidential computing and help models access a wider range of information.

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