PSKY, WVE, CFLT & more

Check out the companies making the biggest moves midday: Wave Life Sciences — The Singapore-based biotech that trades on Nasdaq more than doubled, soaring roughly 140% , after positive interim data from a Phase 1 trial of an RNA obesity shot that cut fat but retained muscle. Paramount Skydance — The media company is launching a…

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Chinese internet tech ramp up AI spend. Who could benefit

Chinese internet companies don’t have enough compute to power their artificial intelligence ambitions — and they aren’t about to buy Nvidia outright. That’s a key takeaway from the latest earnings season. Alibaba reported cloud-related revenue surged by 34% year-on-year to the equivalent of $5.6 billion. Management said demand was outstripping supply, and indicated they might…

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