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☆ It's going to be a long summer for the stock market
▼ + stars: | 2024-05-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The stock market is headed for a disappointing few months. And I think we should also be prepared to see some nasty aggressive selloff along the way," Morrison said. "Political volatility is, in itself… going to trip over stock market volatility," McGough warned. More extreme forecasters have predicted a market crash as steep as 65%, as equities mirror previous bubbles. You're probably going to come back without the material move one way or the other," McGough said.

Persons: there's, —, David Morrison, Morrison, Will McGough, McGough Organizations: Service, Wall Street, Business, Trade, Dow Jones Industrial, Federal Reserve, Prime Capital Investment Advisors, Fed, New York Fed, Treasury

☆ This 147-year-old company that's been trailing the market is ready for big upside, some analysts say
▼ + stars: | 2024-05-16 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Despite AT & T 's stock trailing the overall market, analysts from JPMorgan and Wells Fargo think the storied company is well positioned for long-term growth. AT & T dates back to 1876, when Alexander Graham Bell invented the telephone and then founded Bell Telephone Company a year later. Both JPMorgan and Wells Fargo think the firm can continue to grow its wireless business with a steady stream of new customers. The analyst maintains an overweight rating on AT & T stock with a $20 per share price target, implying 15% upside moving forward. In the first-quarter, the company said it reported the lowest level of postpaid customer churn for that time period ever.

Persons: Wells, Sebastiano Petti, Alexander Graham Bell, Petti, Wall, Eric Luebchow Organizations: JPMorgan, Bell Telephone Company, 5G

☆ The 2024 CNBC Disruptor 50: How we chose the companies
▼ + stars: | 2024-05-14 | by ( David Spiegel | ) www.cnbc.com time to read: +5 min

These companies are upending the classical definition of disruptive innovation that shaped the creation of the Disruptor 50 list more than a decade ago. A whopping 34 of the 50 companies on our twelfth annual CNBC Disruptor 50 list claim that artificial intelligence is "critical" to their businesses. Thirteen of the 2024 Disruptors call themselves "generative AI companies," including five of the top ten on this year's list. Here's how we chose them in 2024:All private, independently owned startup companies founded after Jan. 1, 2009, were eligible to be nominated for the Disruptor 50 list. New for 2024, CNBC formed a Disruptor 50 VC Advisory Board, in an effort to leverage the valuable expertise of leading venture capital firms and investors.

Persons: disruptors, Jan, — Organizations: CNBC, Advisory, SpaceX

☆ These are the 2024 CNBC Disruptor 50 companies: See the full list of startups riding the AI wave
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

It's fair to say that AI is all over the 12th annual CNBC Disruptor 50 list. Roughly two-thirds of the 50 companies making the Disruptor 50 list describe artificial intelligence as "critical" to their businesses. And it starts at the very top: for the first time ever, a company repeats as the list 's No. Companies in industries ranging from cybersecurity to agriculture are also defining AI as mission critical. In all, the 2024 Disruptors have raised $70 billion at a total implied valuation of $436 billion.

Persons: VCs Organizations: CNBC, Companies

☆ Chinese consumer stocks to buy even if the overall market rally fades
▼ + stars: | 2024-05-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

It's now focused on finding industry leaders with high free cash flow. Hong Kong-based AlphaHill Capital is looking specifically for Chinese consumer names with free cash flow growth, said Siliang Jiang, the firm's partner and portfolio manager. Jiang expects the Chinese consumer will start to turn around in the second half of this year or next year. China's "Consumer Confidence Index (CCI) edged up in the past 9 months, despite falling property prices and fears of 'household balance sheet recession '. Two of their picks based on positive free cash flow are Li Auto and New Oriental Education .

Persons: Ding Wenjie, Ding, It's, Siliang Jiang, Jiang, Li, Liqian Ren, Ren, — CNBC's Michael Bloom Organizations: Citi, China Asset Management Co, CNBC, Investors, China Merchants Securities, Baidu, Bank of America, Li Auto, New Oriental, Speed Railway, WisdomTree, Reuters Locations: China, India, Hong Kong, Tencent, Beijing, Shanghai, Shanghai . State

☆ Nvidia will surge another 22%, and is still cheap compared to peers despite nearly doubling this year, Goldman Sachs says
▼ + stars: | 2024-05-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock still has 22% upside, even after its near-doubling this year, according to Goldman Sachs. According to Goldman, Nvidia stock still trades at a relatively attractive valuation compared to its peers given how quickly it is growing and how durable those growth trends look in the coming years. Goldman SachsThose investments should power continued revenue and profit growth at Nvidia, especially with its next-generation Blackwell AI chip set to be released later this year. "Notable intra-quarter data points that support the view that AI spending is likely to continue beyond 2024 include" commentary from tech-focused companies, Hari said. Super Micro Computer reported strong revenue growth and a record backlog driven by elevated demand for AI servers.

Persons: Goldman Sachs, Goldman, —, Toshiya Hari, Hari, TSMC Organizations: Nvidia, Service, Blackwell, AMD, Micro Computer

☆ Micron CEO on $6.1B CHIPS Act grant: Excited to bring leading-edge chip manufacturing to the U.S.
▼ + 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 EmailMicron CEO on $6.1B CHIPS Act grant: Excited to bring leading-edge chip manufacturing to the U.S.Micron CEO Sanjay Mehrotra joins 'Squawk on the Street' to discuss the $6.1 billion grant as part of the Biden administration's CHIPS and Science Act, impact of the funding on advanced memory manufacturing, job creation and capital investments, growth outlook, and more.

Persons: Sanjay Mehrotra Organizations: Micron, U.S, Biden

☆ NABTU: Biden scores major union backing as its leaders attack Trump
▼ + stars: | 2024-04-23 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +8 min

CNN —Joe Biden landed a major union endorsement Wednesday from North America’s Building Trades Unions, whose leaders say the president has his infrastructure bill largely to thank for it. The backing from NABTU, which has 3 million members nationwide, is more enthusiastic than its 2020 backing of Biden. That’s raised questions about the political future of the next generation of union members. It’s “almost like the perfect leader was sent at the perfect time for working people,” NABTU President Sean McGarvey told CNN about Biden in an interview announcing the endorsement. Biden appeared at the union’s conference in Washington on Wednesday to officially get the nod – which union leaders also want to be seen as a stark rebuff of Trump, who eagerly solicited support from union members and leaders during his time in office, but, their leaders say, didn’t deliver.

Persons: CNN — Joe Biden, Biden, Donald Trump, That’s, It’s, ”, Sean McGarvey, Trump, NABTU, ” Biden, “, ” “, Joe Biden, Elizabeth Frantz, Biden’s, McGarvey, ” McGarvey, it’s, Trump’s, Sean, “ Donald Trump, ” Brent Booker, Booker, ” Booker, didn’t, Julie Chavez Rodriguez, “ Biden, he’s, Mitch Landrieu, ” Landrieu, CNN’s Michael Williams Organizations: CNN, Unions, Teamsters, Republican, Democratic, Biden, Trump, Covid, North, Washington Hilton, ’ International Union of Locations: America’s, Pennsylvania, Michigan, Wisconsin, NABTU, Washington, Washington ,, Chicago, ’ International Union of North America

☆ With the market oversold, we're buying a geopolitical hedge and an unfairly punished beer stock
▼ + stars: | 2024-04-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

We are buying 300 shares of Coterra Energy at roughly $26.85 and 25 shares of Constellation Brands at roughly $255.56. The stock climbed 1.3%, to $268.35 per share from roughly $265, after reporting an earnings beat with an upbeat full-year outlook on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer's, Sands, Jim Cramer, Jim Organizations: Coterra Energy, Constellation Brands, CTRA, STZ, CNBC

☆ US Steel’s future as an American company is about to come to a vote. It may not matter
▼ + stars: | 2024-04-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

“It is important that we maintain strong American steel companies powered by American steelworkers,” he said. “US Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.”Experts said opposition from Biden and other politicians — both Republican and Democrats — make it unlikely the deal will win approval. “Six weeks ago, the United States gave Mitsui, a Japanese company, a $20 billion deal to build a crane factory here in the United States and replace all our port cranes throughout the United States. “If the administration has concerns about the Nippon Steel deal, it must seriously consider alternative outcomes. US Steel products, supported by significant capital investments from Nippon Steel, will remain mined, melted and made in America,” the company said.

Persons: Joe Biden’s, Biden, ”, —, “ It’s, Michael Leiter, Skadden, “, Kishida Fumio, ‘, ’, It’s, JD Vance, Phil Gibbs, KeyBank, Gibbs, it’s, Jeff Roberson, Nucor, hasn’t, ” “ Organizations: New, New York CNN, US Steel, Japan’s Nippon Steel, Justice Department, Foreign Investment, Treasury, Commerce, Defense, State, Homeland Security, American steelworkers, Steel, ”, Republican, Democrats —, Japanese, United States, Mitsui, United Steelworkers, steelworkers, Ohio, Nippon, Cleveland Cliffs, Nippon Steel, Cleveland, US Steel Granite City Works, AP, US Locations: New York, United States, Japan, American, Slate, United, Cleveland, US Steel Granite City, Arkansas, America

☆ Former Amazon Robotics chief raises $100 million for his 35-person startup, pushing the valuation over $500 million
▼ + stars: | 2024-04-10 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Read previewAnother robotics startup has raised a large amount of money, signaling a rebound in investor appetite in the space. Collaborative Robotics, an automation startup founded by former Amazon Robotics chief Brad Porter, just raised $100 million in a round led by General Catalyst. The latest round values Collaborative Robotics at more than $500 million, Porter told Business Insider. Founded in 2022, Collaborative Robotics has 35 employees and deployed its first product earlier this year. Mayo Clinic, which also invested in Collaborative Robotics, is one of the early customers, he added.

Persons: —, Brad Porter, General Catalyst, Porter, hasn't, Pitchbook, There's Organizations: Service, Robotics, Amazon Robotics, General, Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, Business, Physical Intelligence, Mayo Clinic, Venture

Hedge fund managers gathered Wednesday at the 2024 Sohn Investment Conference in New York to share their best investment ideas. It kicked off with "Next Wave Sohn," a session that features ideas from rising stars within the hedge fund industry. Endocrinology is an $8 billion market, but the cumulative market size, including the company's future therapy targets, is upward of $200 billion, which includes estimates for future obesity drugs, the investor said. It has CA$75 billion market cap with an "unbelievable record of success," according to the investor. The short seller noted that the company has a $5 billion market cap with about $4.8 billion of debt.

Persons: Sohn, Eric Wolff, Wolff, Michelle Ross, Cushing, Ross, Eli Lilly, Crinetics, XBI, Nikhil Daftary, Alimentation, Daftary, Chris Drose, Nate Koppikar, Fahmi Quadir Organizations: Investment, Gumshoe Capital Management Investment, Pason Systems Energy, Pason Systems, Gumshoe Capital Management, StemPoint, Pharmaceuticals, Crinetics Pharmaceuticals, StemPoint Capital, Endocrinology, Novo Nordisk, P Biotech, NK Capital Investment, NK Capital, Starbucks, McDonalds, Bleecker Street Capital, Orso Partners, Justice Department, Federal Trade Commission, Safkhet, Global Education Locations: New York, Canada, U.S

The 2024 Sohn Investment Conference took place in New York took place Wednesday, with a slew of hedge fund managers highlighting their top ideas. Here are some of the top picks mentioned: Vijay Shilpiekandula, Dilation Capital Investment Idea: ASML Vijay Shilpiekandula of Dilation Capital, who was named the Sohn Idea Contest Winner, presented ASML as his best stock idea. Jesse Cohn, Elliott Investment Management Investment Idea: Etsy E-commerce platform Etsy is an undervalued company, according to Elliott Investment Management managing partner Jesse Cohn. Seth Fischer, Oasis Management Investment Idea: Kao There's an underappreciated buying opportunity in Japanese global chemicals company Kao, according to Seth Fischer, founder and CIO at Oasis Management. David Einhorn, Greenlight Capital Investment Investment idea: Solvay Greenlight's David Einhorn unveiled Solvay as his top investment idea , saying the European chemicals company is a market leader with an attractive valuation.

Persons: Vijay Shilpiekandula, Vijay, ASML, Shilpiekandula, Jesse Cohn, Etsy, Cohn, Seth Fischer, Kao, Fischer, David Einhorn, Solvay, Einhorn, Michael Buckley, Natera, Buckley, Mohammed Anjarwala, Carpenter, Anjarwala Organizations: Elliott Investment Management Investment, Elliott Investment Management, Body, Oasis Management Investment, Oasis Management, Nikkei, Greenlight Capital Investment Investment, Solvay, Duquesne Family, Duquesne Family Office, Global, Technology Carpenter Technology, Boeing, Airbus Locations: New York, Europe, Bath

☆ 3 ways Russia's war-time economy is set to weaken after a surprisingly strong 2023
▼ + stars: | 2024-03-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewRussia's economy is set to weaken this year, according to researchers from Finland's central bank. Russia won't be able to maintain the surprisingly strong growth it saw, the Bank of Finland's Institute for Emerging Economies said in a recent report. That's a stark contrast from what Russia saw last year, with its economy growing 3.6%, according to Russia's federal statistics service. Russia's long-term potential growth rate, in particular, has been reduced by the shift to a wartime economy," the report said. AdvertisementThe report pointed to three areas of the Russian economy that could take a hit.

Persons: — Organizations: Service, Bank of Finland's Institute, Emerging Economies, Business, Russia, Ukraine, United Nations, Russian Academy of Science's Institute of Economics Locations: Russia, Russian, Ukraine, Moscow

☆ The quiet rally in energy continues, lifting our lone oil-and-gas stock higher
▼ + stars: | 2024-03-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

The rally this month comes alongside roughly $3-per-barrel rally in the price of oil, while natural gas has slipped back. "There's a piece in the Wall Street Journal about how AI data centers will consume so much power that it could overwhelm the grid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Coterra, Nelson Peltz, Jim, Mizuho, Ford, Eaton, Jim Cramer's, Liz Hampton Organizations: CNBC, Dow Jones Industrial, Nasdaq, Energy, Club, Disney, Barclays, Nvidia, GTC, Ford, Rivian Automotive, Eaton Corp, Street Journal, Jim Cramer's Charitable Locations: California, Loco Hills, New Mexico, U.S

☆ President Biden wants higher taxes on Corporate America's stock buybacks
▼ + stars: | 2024-03-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

President Biden wants to increase the taxes on those buybacks. Corporations prefer stock buybacks Corporate America has wide latitude on what it does with the cash flow it generates. Excess cash will typically fall into three buckets: buybacks, dividends and capital expenditures. Capital expenditures $597 b. "However, if economic growth momentum instead continues to build, investors may begin to increasingly reward companies that are investing for growth," Goldman said.

Persons: Biden, Goldman Sachs Jeffrey Yale Rubin, Goldman Sachs, Goldman, Tesla, Meta, Biden's, Howard Silverblatt, Silverblatt Organizations: America, buybacks, Birinyi, P Global Locations: buybacks, America

☆ Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close
▼ + stars: | 2024-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

That was a far steeper decline than the overall venture funding market, which declined 38% in 2023, the report said. (The report was based on data from Crunchbase, which Alignment Growth is an investor in.) Investors have been flocking to AI, live entertainment, and sports. Sports M&A nearly tripled in three years to $27.9 billion in 2023, driven by deals for team franchises, the Alignment Growth report showed. High ticket prices for live entertainment could dampen attendance, especially if consumer confidence takes a hit.

Persons: Wade Holden, Anthony Jasenski, CBRE's, Jasenski, haven't, IATSE, Alex Iosilevich, Schlogel, Craig Thompson Organizations: Venture, Business, Disney, Warner Bros, Global, P Global Market Intelligence, Blackstone, Bain Capital Real, Deloitte, Teamsters, Hollywood, Investors, Sports, Atwater, Mindspring Capital Locations: Hollywood, Crunchbase, Americas, OpenAI

☆ Jobs report Friday is expected to show a slowing but still healthy labor market
▼ + stars: | 2024-03-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

If the forecast is close to accurate, it would mark a considerable downshift from January's explosive growth of 353,000, but still representative of a fairly vibrant labor market. "This is kind of a cautious labor market. ZipRecruiter's quarterly job-seeker survey showed expectations for the medium-term outlook hitting a series high, while applicants also indicated stronger levels of confidence in their financial wellbeing and current state of the labor market. A jobs market that remains red-hot could deter the Federal Reserve from cutting interest rates this year as expected. In its most recent survey of economic conditions, the Fed found that the ultra-tight labor market has loosened somewhat, but there are still active pockets.

Persons: Spencer Platt, Dow, Julia Pollak, they're, Pollak, Raphael Bostic, they've, Tom Gimbel, Jerome Powell, Gimbel Organizations: Chelsea Market, Getty, Labor Department, Dow Jones, Employers, Federal Reserve, Atlanta Fed, Challenger, Labor, Survey, LaSalle Network, Big Tech Locations: Manhattan, New York City, U.S, Covid

☆ America's CEOs are suddenly feeling a lot better about the economy
▼ + stars: | 2024-03-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Optimism about the economy spiked among US CEOs to start the yearBusiness Roundtable's quarterly CEO sentiment report jumped by 11 points in the first quarter. The report also showed CEOs expect hiring, capital investment, and sales to all increase in the coming six months. The University of Michigan consumer sentiment report showed Americans' mood improving to start the year, climbing to its highest mark since July 2021. AdvertisementA special question in the latest survey from the business group in this quarter's survey showed that CEOs are feeling downbeat about government policy and regulation. We urge policymakers to recommit themselves to promoting economic growth, creating more American jobs and increasing economic mobility," Business Roundtable CEO Joshua Bolten said.

Persons: —, Chuck Robbins, Joshua Bolten Organizations: Service, Business, Cisco, IMF, University of Michigan Locations: U.S

☆ Why the productivity gains from AI won't be able to prevent a recession
▼ + stars: | 2024-03-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs the artificial intelligence-powered stock market rally pushes on, proponents of the technology have posited that it could help ward off a recession that forecasters are calling for. According to David Rosenberg, economist and president of Rosenberg Research, don't get your hopes up. AI won't change the trajectory of the business cycle enough to prevent a downturn. The stock market is not the economy," Rosenberg added.

Persons: —, David Rosenberg, Rosenberg, IMB, Let's Organizations: Service, Rosenberg Research, Business, American, Devices, Intel

☆ How a century-old investment firm with $288 billion in assets identifies the companies set to dominate much of the stock market's outperformance, according to one of its fund managers
▼ + stars: | 2024-02-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

It's also a short-sighted approach as far as Baillie Gifford, an investment management firm with $288 billion under management, is concerned. Advertisement"Our investment approach is bottom up," said Gemma Barkhuizen, an investment manager at the firm and one of the decision-makers on the Baillie Gifford Long Term Global Growth Fund. Another example is Nvidia, which is the largest holding within the long-term fund at 1.22%. A bottom-up, stock-picking strategyThe research framework that is the bedrock of the filtering process for the long-term fund looks at 10 key variables. What societal considerations are most likely to prove material to the long-term growth of the company?

Persons: —, It's, Baillie Gifford, Baillie Gifford's, Gemma Barkhuizen, Barkhuizen, Baillie, Roblox, that's, it's, aren't, isn't Organizations: Service, Business, PDD Holdings, Nvidia, Companies Locations: China

☆ Coterra uses its flexibility to deliver what matters most to investors in energy
▼ + stars: | 2024-02-22 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Coterra Energy slightly missed earnings expectations on Thursday, but the oil and natural gas producer delivered where it matters most: free cash flow. This new era rewards the energy players that focus on dividends and buybacks, both of which depend on strong, consistent cash flow production. And Coterra delivered, with beats on discretionary and free cash flow. Though the discretionary cash flow guide is disappointing, the ultimate impact is mitigated by this flexibility because it allows for the most efficient use of cash. A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019.

Persons: Coterra, Tom Jorden, Marcellus, Jim Cramer's, Jim Cramer, Jim, Angus Mordant Organizations: Energy, LSEG, Coterra, Management, CNBC Locations: Loving County , Texas, U.S

☆ Masayoshi Son made $72 billion betting on Jack Ma's Alibaba. Now he wants to do it again with AI.
▼ + stars: | 2024-02-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewMasayoshi Son owes much of his success to an incredibly prescient dot-com era bet on Alibaba. The SoftBank chief first invested $20 million in Jack Ma's ecommerce upstart in 2000, when it was just a year old. That faith was handsomely rewarded, with SoftBank realizing an incredible $72 billion gain on its investments in Alibaba over the course of 23 years. Arm and the Vision Funds collectively represent 70% of SoftBank’s net asset value, a key performance indicator that reflects the total value of its holdings. Arm, SoftBank's latest golden child, is on course to deliver, but there is still much work to be done to get the Vision Funds back on track.

Persons: —, Jack Ma's ecommerce, Ma, Son, Masayoshi Son's, Jack Ma, Alibaba, ChatGPT, Yoshimitsu Goto, SoftBank, Uber, Sam Altman, he'll Organizations: Service, Business, Future Publishing, Vision, Apple, Google, Nvidia, Samsung, Nasdaq, Funds Locations: Alibaba, China, British, London

It's a story increasingly familiar in the energy industry: Some utility companies don't properly assess the risks wildfires pose to their operations. The primary purpose is to prevent power lines from igniting a wildfire during periods of high fire danger. The lawsuit also alleges the company "inexcusably kept their power lines energized during the forecasted high-fire danger conditions." A PG&E utility worker locates a gas main line in the rubble of a home burned down by wildfire in Paradise, California, Nov. 13, 2018. Several of those agencies track statewide wildfire information, but most did not keep track of the names of utility companies associated with wildfire incidents.

Persons: Michelle Glogovac, Glogovac, Laurie Allen, Brent Jones, Allen, Jones, inexcusably, Michael Wara, Shelee Kimura, Yuki Iwamura, David Pomerantz, Pomerantz, Patti Poppe, It's, JOSH EDELSON, Warren Buffett's, Stanford's, CNBC's Brian Sullivan, David Paul Morris, Institute's Pomerantz, Tama Organizations: CNBC, Electric, Energy, Stanford University, Hawaiian Electric, AFP, Getty, Policy, Policy Institute, NV Energy, Warren Buffett's Berkshire Hathaway Energy, Bloomberg, Getty Images Locations: Paradise , California, Lahaina , Hawaii, Hawaii, Maui, Maui County, Lahaina, California, Nevada, Warren, — Arizona, California , Colorado, Hawaii , Montana , Nevada , New Mexico , Oregon , Utah, Washington, Arizona , New Mexico, Utah

On Tuesday, industry leaders reassembled with a bipartisan group of Kentucky leaders to toast the bourbon sector's record growth. Kentucky's bourbon industry pumps $9 billion into the Bluegrass State's economy each year, creating more jobs and attracting more tourists than ever before, according to a study released Tuesday. Kentucky distillers produce 95% of the global bourbon supply, according to the Kentucky Distillers' Association. Producers had a record inventory of 12.6 million bourbon barrels aging in warehouses at the start of 2023, it said. Bourbon tourism has flourished, with attendance surpassing 2.5 million visitors last year along the Kentucky Bourbon Trail and the Kentucky Bourbon Trail Craft Tour, which showcases smaller distilleries.

Persons: Andy Beshear, Bill Samuels Jr, Maker's Mark, Samuels, “, ”, David Osborne, Eric Gregory, ” Samuels Organizations: Kentucky Capitol, Democratic, Kentucky distillers, Kentucky Distillers ' Association, Maker's, statehouse, distillers, Producers, Bourbon, Kentucky Bourbon Trail, Distillers, Republican, Bluegrass State, Capitol, Ivy League Locations: FRANKFORT, Ky, Kentucky

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