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BEIJING — China's ByteDance is working with U.S. chip designer Broadcom on developing an advanced AI processor, two sources familiar with the matter told Reuters, a move that would help TikTok's owner secure sufficient supply of high-end chips amid U.S.-Sino tensions.
Stock splits, long out of favor, are making a comeback.
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Broadcom posted earnings for the second fiscal quarter on Wednesday that beat analysts' estimates. It also announced a 10-for-1 stock split, set to begin trading on a split-adjusted basis on July 15.
S&P 500 futures rose slightly Wednesday night after the broad market index closed above 5,400 for the first time, following the Federal Reserve's latest interest rate decision and a May consumer inflation print that came in cooler than expected.