Fiserv's exec shakeup, Anthropic to use Amazon data center chips

Market Domination host Josh Lipton tracks several of the day's top trending stock tickers, including Caterpillar's (CAT) stock gains on its strong third quarter earnings results and upbeat outlook, Fiserv (FI) stock plunging by over 40% as it announces a new chief executive, and Amazon (AMZN) unveiling a new partnership with Anthropic (ANTH.PVT).

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Video Transcript

00:00 Speaker A

We're starting with Caterpillar, company reporting an earnings beat for the third quarter. Caterpillar also delivering a better than expected fourth quarter outlook that out shown the increased impact from tariffs. The mining construction machinery maker noting that its outlook improved since last quarter in part due to a record backlog and strong order rates.

00:27 Speaker A

Turn to Fiserv, that stock sinking here as the company slashed its annual earnings guidance. Changes to its outlook came down to a series of factors including the impact of deferred investments and the recalibration of optimistic growth assumptions in the original guidance. The payments processor also making a broad reshuffling across its senior ranks, along with that executive shakeup was also a new strategic action plan called One Fiserv.

01:03 Speaker A

And lastly, Amazon says that it has completed a massive data center project. News coming as AI chip competition heats up among big tech firms. Anthropic's models will scale to use more than 1 million of Amazon's Trainium 2 chips. Anthropic will use these chips for training and inference from Project Ranier and other Amazon data centers this year.

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