KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Intel Corp (NASDAQ: INTC) is in preliminary discussions to acquire SambaNova Systems Inc , a Silicon Valley AI chip startup that has been seeking buyers, according to Bloomberg . Early-Stage Negotiations Sources familiar with the matter said Intel and SambaNova are discussing potential terms, though talks remain in the early stages and no deal has been finalized . The valuation would likely come in below the US$5 billion SambaNova achieved in its 2021 fundraising round. The company has been working with bankers to explore acquisition options, and other bidders could still emerge. Both Intel and SambaNova declined to comment. Strategic Fit for Intel For Intel, acquiring SambaNova would align with its push to strengthen AI computing capabilities and compete more effectively with Nvidia Corp , the market leader in AI processors. Intel’s CEO Lip-Bu Tan has deep ties ...