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The AI engineer bailed on his friends, who had traveled from the East Coast to the Seattle area. watch nowThis is the dark underbelly of the generative AI gold rush. Last year marked the beginning of the generative AI boom, following the debut of OpenAI's ChatGPT near the end of 2022. Justin Sullivan | Getty ImagesAn AI engineer at Microsoft said the company is engaged in an "AI rat race." The Microsoft AI engineer said a lot of tasks are about "trying to create AI hype" with no practical use.
Persons: Sebastien Bozon, Jensen Huang, Tech's, Amy Hood, Mark Zuckerberg, Zuckerberg, Andy Jassy, Jassy, they're, Eric Gu, , Gu, Satya Nadella, Sam Altman, Justin Sullivan, there's, Morry, Kolman, doesn't, Sundar Pichai, Bard, There's, That's, beholden, Ayodele Odubela, ", it’s, Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, Odubela, Gemini Organizations: Google, Apple, Facebook, Microsoft, AFP, Getty, Amazon, CNBC, Big Tech, Nvidia, Google . Engineers, Tech, Vision, Cloud Next, Web, Amazon Web Locations: Mulhouse, France, East Coast, Seattle, ChatGPT, San Francisco, Vegas, Las Vegas, German
Alphabet is 'back from the dead': Big Tech's Alex Kantrowitz
  + stars: | 2024-04-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlphabet is 'back from the dead': Big Tech's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Closing Bell' to discuss his takeaway from mega cap tech earnings this week and his expectation for the rest of the sector next week.
Persons: Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology
Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Tech tumbleThe lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings. "This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting," wrote Chris Zaccarelli, investment chief at Independent Advisor Alliance. Investors are hoping the PCE report, which is the Fed's preferred measure of inflation, will show an improvement in pricing pressures after the March consumer inflation report came in hotter than expected. — Brian Evans8:58 a.m.: 10-year Treasury yield jumps to highest level since NovemberThe 10-year Treasury yield broke above 4.7% following the GDP report, hitting its highest level since November.
Persons: Johannes Eisele, Dow Jones, Chris Larkin, Morgan Stanley, Meta, Thierry Wizman, UnitedHealth, Alex Harring, Mark Zuckerberg's, Hakyung Kim, Fred Imbert, Chris Zaccarelli, Sarah Min, — Brian Evans, — Jesse Pound Organizations: New York Stock Exchange, AFP, Getty, Dow Jones, Caterpillar, IBM, Nasdaq, Dow, Federal Reserve, Federal, Traders, Meta, Business Machines, FX, Macquarie, Microsoft, Amazon, Merck, York Stock Exchange, Independent, Alliance, Investors, Treasury, Gross
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoing to be tough for Meta to find more areas of growth, says Alex KantrowitzAlex Kantrowitz, Founder of Big Technology, gives his expectations for Meta's earnings report.
Persons: Alex Kantrowitz Alex Kantrowitz Organizations: Meta, Big Technology
Meta Platforms is set to report first-quarter earnings after Wednesday's closing bell, the latest in a salvo of releases from technology names. The "Magnificent Seven" stock is currently trading about 6% below an all-time high it hit earlier in April as traders get ready for the latest news. Here's what investors should know ahead of the release: How the stock moved last time Meta's fourth-quarter earnings, released in early February, prompted a major rally. As a social media platform operator, they'll look at the total number of active users on a daily basis and minutes per active user. Average revenue per user is another important metric, as it can show how much each active user contributes in terms of profit.
Persons: Meta, LSEG, Rohit Kulkarni, Roth, Mark Zuckerberg, Kulkarni Organizations: Nasdaq, Meta, Investment, LSEG
Big technology earnings this week could offer a much-needed catalyst for a market under pressure. Last week, the S & P 500 and Nasdaq Composite notched their longest daily losing streaks since October 2022, with the broad index posting its worst week since March 2022. Big Tech's performance this week could set the tone for the rest of earnings season and revive the market momentum. Tesla Tesla launches the reporting period for the "Magnificent Seven" stocks, with results due out after the bell Tuesday. Meta Platforms Meta Platforms ' results are due out after the bell Wednesday.
Persons: Tesla, Elon Musk, John Murphy, Longtime Deutsche Bank Tesla, Emmanuel Rosner, Brent Thill, Bernstein, Mark Shmulik, Doug Anmuth, Justin Post, Goldman Sachs, Eric Sheridan, Jefferies, Bernstein's, Wells Fargo's Michael Turrin, Piper Sandler's Brent Bracelin, Kash Rangan, Brad Zelnick, OpenAI, Satya Nadella Organizations: Federal Reserve, Nasdaq, Tesla Tesla, Bank of America, Barclays, Longtime Deutsche Bank, Microsoft, Deutsche, NVIDIA Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Jason Snipe, Alex Kantrowitz, and Joe TerranovaJason Snipe, Odyssey Capital Advisors principal, Alex Kantrowitz, Big Technology founder, and Joe Terranova, senior managing director at Virtus Investment Partners, join CNBC's 'Closing Bell' to discuss what to watch in Netflix earnings, mega caps, and more.
Persons: Jason Snipe, Alex Kantrowitz, Joe Terranova Jason Snipe, Joe Terranova, CNBC's Organizations: Odyssey Capital Advisors, Big Technology, Virtus Investment Partners
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Tech's Alex Kantrowitz doesn't believe Google or Intel's chips will cut into Nvidia's leadAlex Kantrowitz, Big Technology founder, joins 'Closing Bell' to discuss AI chips as Google announced its latest AI chip.
Persons: Alex Kantrowitz doesn't, Alex Kantrowitz Organizations: Big Technology, Google
Morgan Stanley raised its price target on Ford after the company reassessed its electric vehicle strategy. That "paints path to ~$230-$290 stock price as we argue AMZN could warrant an even higher multiple in this scenario," he added. — Michelle Fox 7:38 a.m.: Evercore hikes Disney price target, points out near-term catalysts Walt Disney has a bright near-term outlook, according to Evercore ISI. In addition to cutting his price target, Harned also pulled down his outlook for free cash flow and deliveries. — Alex Harring 5:48 a.m.: KeyBanc raises Nvidia price target There's no slowing down Nvidia , according to KeyBanc.
Persons: Morgan Stanley, KeyBanc, Brian Nowak, Jon Tower, — Michelle Fox, Walt Disney, Vijay Jayant's, Jayant, Bob Iger, — Lisa Kailai Han, David Palmer, Palmer, Uber, — Alex Harring, Bernstein, Douglas Harned, Harned, Dave Calhoun, Alex Harring, Anthony Chukumba, Chukumba, selloff, Ross Seymore, Seymore, TD Cowen, Doug Anmuth, Anmuth, there's, John Blackledge, Blackledge, Jason Bazinet, Bazinet, There's, Goldman, Goldman Sachs, Kate McShane, McShane, BJ, Mark Strouse, Strouse, Adam Jonas, Jonas, Ford, John Vinh, Vinh, Fred Imbert Organizations: CNBC, Monday's, Ford, Nvidia, Amazon, Citi Citi, Grill, ISI, Disney, India's Reliance Industries, Reliance Industries, Netflix, Hulu, Boeing, Dow Jones, Capital, Loop Capital, Deutsche Bank, Broadcom, VMWare, JPMorgan, Citi, BJ's Wholesale, GE, GE Vernova Locations: Michigan, Alaska, F1Q, California, The Massachusetts, Friday's, China
How India is challenging China as Asia's tech powerhouse
  + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +30 min
New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?
Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany
Post's price target increase is in line with his move on the GAAP price-to-earnings multiple to 22 from 21. — Alex Harring 6:39 a.m.: Melius moves to sidelines on Boeing Boeing has too many areas of concern, Melius Research warned. Analyst Robert Spingarn downgraded the plane maker to hold from buy and slashed his price target by $71 to $209. Analyst Filippo Falorni upgraded the cosmetics stock to buy from neutral and hiked his price target by $15 to $175. Analyst Brennan Hawken downgraded the investment asset manager to neutral from buy and cut his price target by $5 to $135.
Persons: Grinder, Justin Post, Meta, — Alex Harring, Eli Lilly, Andrew Baum, Baum, Novo, Robert Spingarn, Spingarn, LSEG, Alex Harring, Filippo Falorni, Falorni, Estee Lauder, Lauder, Tom Ford, Le, Blackstone, Brennan Hawken, Hawken, JMP, Nicholas Jones, Jones, Grindr, Christopher Dendrinos, Dendrinos, — Fred Imbert Organizations: CNBC, RBC, GE, of America, Citi, Indianapolis, Boeing Boeing, Melius, Boeing, Dow Jones, Coca, Cola, Beverage, Travel, UBS, GE Vernova, New York Stock Exchange Locations: Monday's, Asia Pacific, Asia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot all AI players need to be a part of the Magnificent 7, says Alex KantrowitzAlex Kantrowitz, Big Technology Founder, discusses whether Adobe should take Tesla's place in the Magnificent 7.
Persons: Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Adobe
Retail traders bought billions of dollars worth of cash equities over the past week on net, according to data compiled by JPMorgan's Peng Cheng. With those gains, he said traders bought into Apple and Alphabet , which have both largely sat out of the broader market rally this year. By comparison, investors bought more than half a billion dollars of Alphabet when accounting for outflows. Neither tech stock made the list of top 25 securities by retail net inflows in the previous week. Outside of big tech, Cheng noted that retail investors snapped up shares of beat-down Boeing , which is facing a crisis surrounding its 737 Max 9s after a door panel blew out midflight.
Persons: JPMorgan's Peng Cheng, Cheng, SPX, Max, LSEG Organizations: Retail, Nvidia, Meta, Apple, Trust, outflows, Boeing, Dow Jones, Broadcom, Costco Locations: Japan
TOKYO (AP) — Asian shares mostly rose Wednesday, encouraged by a record rally on Wall Street that was led by technology companies. Speculation is rife that Japan's central bank is getting ready to end its super-easy monetary policy, which has set interest rates below zero, and start raising rates. Photos You Should See View All 60 ImagesOn Wall Street, the S&P 500 jumped 1.1% to top its all-time high set last week. The worse-than-expected data kept the door closed for long-sought cuts to interest rates at the Federal Reserve meeting next week. On Wall Street, big technology stocks did heavy lifting.
Persons: Australia's, Korea's Kospi, , Tim Waterer, Brian Jacobsen, Chris Larkin, Morgan Stanley, ” Larkin, , Dow, Brent Organizations: TOKYO, Nikkei, Bank of, KCM, U.S, Dow Jones, Nasdaq, Federal Reserve, Annex Wealth Management, Fed, Treasury, Oracle, Nvidia Locations: Hong, Shanghai, Wall
He observed the fall of Google's open culture and its impact on Google's product. His controversial memo questioning Google's diversity practices noted that "Google's political bias has equated the freedom from offense with psychological safety, but shaming into silence is the antithesis of psychological safety." Rather than reaffirm Google's culture of open questioning and psychological safety by actively challenging Damore's assertions, leadership fired Damore and ended the discussion. Google leadership did further damage to the company's open culture following employee protests of military contracts and executives' alleged sexual harassment. AdvertisementThe closing of Google's open culture harmed the product.
Persons: David Kiferbaum, , Eric Schmidt, Jonathan Rosenberg, Larry Page, Sergei Brin, James Damore, Damore, Sundar, TGIF, what's Organizations: Google, Big Technology, Service, CNN
A Trans-Atlantic Crackdown
  + stars: | 2024-03-05 | by ( David Leonhardt | ) www.nytimes.com   time to read: +1 min
In today’s newsletter, I want to help you understand the emerging crackdown on big technology companies. The European Union yesterday imposed a $2 billion fine on Apple, and regulators in the U.S. are pursuing cases against Amazon, Google, Facebook and perhaps Apple. These legal cases are often complex, and I know that some readers find them hard to follow. In the book, Wu used a term — “the cycle” — to describe what happened after a new form of communication arrived, be it the telephone, radio or internet. In the early days of radio, amateur stations proliferated, much as the early internet was quirky and offered few opportunities for profit.
Persons: Tim Wu, Wu Organizations: Apple, Amazon, Google, Facebook Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeonardo CEO discusses the 'big technology challenge' facing the defense sectorRoberto Cingolani, CEO of Leonardo, discusses the European defence firm's full-year earnings, how the sector should move from weaponry to security, and how AI and digitalization could affect the industry.
Persons: Leonardo, Roberto Cingolani
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle's search isn't in danger of replacement by AI, says Big Tech's Alex KantrowitzCNBC’s Deirdre Bosa and Big Technology’s Alex Kantrowitz, join 'Closing Bell' to discuss Google Gemini's AI inaccuracies and what it could mean for the mega cap tech company.
Persons: Big, Alex Kantrowitz CNBC’s Deirdre Bosa, Alex Kantrowitz Organizations: Google
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Big Technology’s Alex Kantrowitz and Solus’ Dan GreenhausCNBC’s Deirdre Bosa, Big Technology’s Alex Kantrowitz and Solus’ Dan Greenhaus, join 'Closing Bell' to discuss Google Gemini's AI inaccuracies and what it could mean for the mega cap tech company.
Persons: Big, Alex Kantrowitz, Dan Greenhaus CNBC’s Deirdre Bosa, Dan Greenhaus Organizations: Google
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReddit is a 'smaller, more volatile' Twitter, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Squawk Box' to discuss Reddit's decision to go public, the company's journey to IPO, Sam Altman's stake in the company, and more.
Persons: Big, Alex Kantrowitz Alex Kantrowitz, Sam Altman's Organizations: Big Technology
“I would say it's important to remember that history is littered with big successful companies who faced big technology shifts,” Herrington said during the event. Internally, Amazon is scrambling to brainstorm new AI projects . Herrington oversees Amazon’s entire retail business, including the online marketplace, healthcare unit, and logistics service. While mentioning big companies that failed to adapt to these transitions and ultimately phased out, Herrington said he’s confident Amazon is going to be a leader in AI. Advertisement“It's all of our responsibility together to make sure that's not going to be the Amazon story,” Herrington said.
Persons: , Doug Herrington, , Herrington, , ” Herrington, didn’t, , There’s, Andy Jassy Organizations: Service, Amazon, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology's Alex Kantrowitz: The legal action against social media companies has meritCNBC's Julia Boorstin with Big Technology's Alex Kantrowitz and University of Florida's Andrew Selepak, join 'Power Lunch' to discuss the lawsuits against the various social media apps.
Persons: Alex Kantrowitz, Julia Boorstin, Big, University of Florida's Andrew Selepak Organizations: University of Florida's
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe year of the "AI app layer"Gil sees 2024 as the year that the “AI app layer” will start to crystalize, bringing the power of rapidly advancing foundation models to the masses. For someone with so much skin in the AI game, it’s notable that Gil’s portfolio does not include the big foundation models companies like OpenAI, Anthropic, and Cohere. Gil says he has been impressed with how quickly the legacy tech companies have moved to corner the market on cutting-edge AI research. But with the Biden administration’s more robust antitrust posture, Gil says there’s a lot of much-needed consolidation that’s not happening.
Persons: , OpenAI, Elad Gil, Harvey, Character.ai, “ We're, ” Gil, ChatGPT, Gil, Gil's, , “ they’ve, Biden, there’s Organizations: Service, Business, Twitter, Mixer Labs, Google, Apple, Fortune, “ Enterprises Locations: Airbnb, MistralAI, Silicon Valley
Tuesday's inflation data sent the broader market reeling, making stable stocks more attractive for investors worried about further losses. Because of this, CNBC Pro screened for low-volatility, fortress-like names that can perform well if the drawdown continues. She pointed to growth of a media business as something that could help Costco win market share and create a better margin profile. While more than three out of every five analysts polled by FactSet has a buy rating on the stock, the typical price target reflects shares pulling back by 1.5%. The average price target reflects the likelihood for more rallying ahead with an upside of nearly 15%.
Persons: Strong, Berkshire Hathaway, Warren Buffett, Tesla, Richard Galanti, Gary Millerchip, Goldman Sachs, Kate McShane, McShane, FactSet, Ben Reitzes Organizations: Federal Reserve, Treasury, CNBC Pro, Berkshire, Berkshire Hathaway, Costco, Kroger, Microsoft, Big Technology, Melius
Given that most of the "Magnificent Seven" has surpassed consensus expectations, Goldman Sachs said the group of big technology companies could once again exceed the broader market's gains this year. So far, six of the Magnificent Seven — all but blockbuster chipmaker Nvidia — have reported fourth-quarter results. Each of the companies, with the exception of electric vehicle maker Tesla , exceeded consensus sales forecasts, and collectively posted 14% year-over-year quarterly sales growth, Kostin noted. Analysts also expect the Magnificent Seven to outperform in margin expansion over the next three years, compared with the rest of the market, he added. Shares of the Magnificent Seven raced ahead of the broader market last year.
Persons: Goldman Sachs, David Kostin, Kostin, Nvidia —, Goldman, Nvidia's Organizations: Nvidia, DoJ, FTC, Analysts, Tech, Apple, Microsoft
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