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Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.
Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, , Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe
Atlantis, The Royal Atlantis, The Royal: The double-height bar is perfect for sunset cocktails — although you won't be making your own drinks, as there's a 24-hour bartender ready to make your favorites. Atlantis, The Royal Atlantis, The Royal: The triple-height library provides a secluded space to work, read or relax. Atlantis, The Royal Atlantis, The Royal: The entertainment room is kitted out with a 98-inch LED screen for a home cinema experience. Atlantis, The Royal Atlantis, The Royal: Every room has stunning views — including the marble-clad bathrooms. Atlantis, The Royal Atlantis, The Royal: Guests can enjoy designer amenities made by French fashion house Hermès, as well as bespoke gold toothbrushes, combs and brushes.
Persons: Swedish House Mafia —, there’s, , Tom Roelens, There’s, Cabana, Rebecca Cairns, Kendall Jenner, “ We’ve, we’ve, Graff, bathrobes, Jay Z, Louis, Valentino —, , it’s, Estiatorio Milos, Costas Spiliadis, Organizations: CNN, Swedish House Mafia, Royal, Atlantis Resorts, Dolce, Gabbana, cabanas, Atlantis, “ Royal, Nobu, , Chefs, Sky Locations: Dubai, Beyoncé, isn’t, Arabian, Atlantis Royal Dubai
BARCELONA, SPAIN - JANUARY 31: A logo sits illuminated outside the Amazon Web Services (AWS) booth at ISE 2023 and IOT Solution World Congress at Fira Barcelona on January 31, 2023 in Barcelona, Spain. (Photo by Cesc Maymo/Getty Images)SINGAPORE — Amazon Web Services on Tuesday said it will invest an additional 12 billion Singapore dollars (about $8.87 billion) over the next five years to grow its cloud infrastructure and services in Singapore. "The investment will go into the construction and build up of the DC capabilities, all associating with the Asia-Pacific Singapore region," Priscilla Chong, country manager of AWS Singapore, told CNBC's "Street Signs Asia" on Tuesday. The U.S. tech giant's cloud computing arm launched its first Asia-Pacific region in Singapore in 2010 – its first foray outside of the U.S. and Europe. Since then, AWS said it has pumped over SG$11 billion into Singapore's cloud infrastructure and ecosystem.
Persons: Cesc Maymo, Priscilla Chong, CNBC's, Chong Organizations: Amazon Web Services, Fira Barcelona, Integrated Systems, Services, AWS Singapore, ASEAN Locations: BARCELONA, SPAIN, Barcelona, Spain, Integrated Systems Europe, SINGAPORE, Singapore, Asia, Pacific Singapore, U.S, Pacific, Europe
Check out the companies making headlines in midday trading: Walt Disney — The entertainment giant sank 10% after posting fiscal second-quarter results . Walt Disney reported adjusted earnings that beat estimates and posted strong Disney+ subscriber growth but slightly missed revenue estimates. Palantir Technologies topped revenue expectations and posted adjusted earnings that were in line with estimates, but offered disappointing full-year guidance. Rocket Lab — Shares declined nearly 4% after the company posted a revenue miss in the first quarter. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the FactSet consensus estimate of $95 million.
Persons: Walt Disney, Stanley Druckenmiller, Datadog, Amit Agarwal, Tesla, Li, Xpeng, StreetAccount, LSEG ., , Jesse Pound, Brian Evans, Alex Harring, Sarah Min, Hakyung Kim, Tanaya Macheel Organizations: Nvidia, Billionaire, Ferrari, billings, FactSet, Li Auto, Technologies, Palantir Technologies, UBS Group, UBS, CNBC, LSEG, Citi, Simon Property Group, Revenue Locations: Italian, FactSet, U.S
Wynn Resorts — The resort-and-casino stock added 2.3% on the back of better-than-expected first quarter earnings. However, the California-based company saw $253 million in revenue for the three-month period, above the consensus forecast of $247 million. Toast — The cloud-based restaurant management software company saw shares jump more than 2% in extended trading after its earnings report. Twilio expects revenue to range between $1.05 billion and $1.06 billion versus an LSEG average estimate of $1.08 billion. The quarter "saw early indications of market share gains in hereditary cancer and prenatal testing," management said.
Persons: Reddit, Lyft, Rivian, Wynn, LSEG, Sonos, , Yun Li, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnipper, Samantha Subin Organizations: FactSet, LSEG, Rivian, Wynn Resorts, Arts, Arista Networks, Wall, Myriad Locations: California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAWS will boost investments in Singapore's cloud infrastructure by $9 billion, country manager saysPriscilla Chong, country manager at Amazon Web Services Singapore, says the investments will go into the construction and buildup of data center capabilities.
Persons: Priscilla Chong Organizations: Amazon Web Services Singapore
Spanish startups hit Microsoft with complaint over cloud practices
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: +3 min
Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years. Microsoft defended its cloud practices. "Microsoft provides choice and flexibility for our customers to switch to another cloud provider at no cost, and our licensing terms enable our customers and other cloud providers to run and offer Microsoft software on every cloud," a spokesperson said. "We will engage with the Spanish Startup Association to learn more about its concerns."
Persons: Carlos Mateo Organizations: Microsoft, Mobile, Amazon, Spanish Startup Association, Operating Systems, Windows, Reuters, Cloud Infrastructure Services, European Commission, Competition, Markets Locations: Barcelona, Spain, Spanish, U.S, Europe
Steve Eisman told Bloomberg TV that Apple will benefit from the coming wave of AI-based applications. Prospects of an AI iPhone have spurred bullish calls among other analysts. AdvertisementApple is well positioned to exploit the second leg of artificial intelligence, as the technology starts to take the form of mobile applications, Steve Eisman said. Sacconaghi's bullishness preceded Apple's winning earnings, during which CEO Tim Cook teased big AI announcements to come. AdvertisementWhen it comes to AI, Eisman has previously touted big investments in infrastructure, which would benefit from the tech's massive power demand.
Persons: Steve Eisman, , everybody's, Neuberger Berman, we're, Eisman, Bernstein's, Toni Sacconaghi, Sacconaghi's bullishness, Tim Cook, Dan Ives Organizations: Bloomberg, Apple, Service, Nvidia, AMD, Cook, Co, Securities, Worldwide Locations: China
CNN —Two Ukrainian security officials have been detained for planning to assassinate President Volodymyr Zelensky, according to the country’s State Security Service (SBU). Two Ukrainian government protection unit colonels have been detained and are accused of leaking classified information to Russia, the SBU said Tuesday, after it “exposed a network of agents” belonging to Russia’s state security service (FSB). A woman from the southern Ukrainian region of Mykolaiv was arrested in August 2023 in connection to a plot to assassinate Zelensky. She was accused of gathering intelligence about Zelensky’s planned visit to Mykolaiv in order to plan a Russian airstrike to kill him. The plot was uncovered by Ukrainian authorities and the man was later detained and charged in Poland.
Persons: Volodymyr Zelensky, , Zelensky, SBU, Vasyl Maliuk, Kyrylo, Zelensky’s, Prosecutors, Kyriakos Mitsotakis, Mitsotakis Organizations: CNN, country’s State Security Service, State, Ukrainian, Defence Intelligence Locations: Russia, , Ukraine, Ukrainian, Mykolaiv, Russian, Polish, Republic of Poland, Jasionka, Poland, Odesa
Cramer's Lightning Round: Quanta Services is 'terrific'
  + stars: | 2024-05-06 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon AeroVironment's year-to-date stock performance. Stock Chart Icon Stock chart icon Nutanix's year-to-date stock performance. Stock Chart Icon Stock chart icon Altimmune's year-to-date stock performance. Stock Chart Icon Stock chart icon CVR Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon Quanta Services' year-to-date stock performance.
Persons: it's Organizations: Mines, Eagle Mines, CVR Energy
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: XLU, Katie Stockton Organizations: Utilities, Fairlead, CNBC Pro, Securities
Look at what's happening in Ukraine. Look at what's happening in the Middle East. Drones have changed modern warfare, public safety, and homeland security forever," Dedrone CEO Aaditya Devarakonda told CNBC on May 6, 2024, the day his startup was acquired by public safety company Axon. Public safety technology company Axon announced Monday that it is acquiring drone defense startup Dedrone. "And you can see what's happening around the world.
Persons: Aaditya Devarakonda, Dedrone, Rick Smith, CNBC's Morgan Brennan, Smith Organizations: Armed Forces, Ukraine, CNBC Locations: Lviv, Ukraine
Apple's definition of "services" includes advertising, which Apple routinely says is a major driver of its services growth. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But as we've pointed out many times, iPhone sales won't grow forever. Which is why, for the last several years, Apple has been taking pains to highlight its growing "services" business. "Services," per Apple's description, is a fast-growing grab-bag of stuff, all of which doesn't directly involve Apple hardware: money Apple makes from App Store sales; money Apple makes selling warranties and cloud storage; and money Apple makes selling you music and TV subscription services.
Persons: , doesn't Organizations: Apple, Service, Business
CNN —Rescue efforts were underway after three people were killed and dozens remained trapped after a multi-storey building under construction collapsed in the South African city of George, authorities said. Fifty-one people remained trapped, according to a statement from the municipality of George. CCTV footage obtained by Reuters showed a cloud of dust as the building crumbled on Monday afternoon. “I saw one guy was working and then ‘boom’ and I saw the whole building collapsed… I’m also traumatised. “This is going to be a really lengthy exercise and probably going to go right through the night,” he said.
Persons: George . “, Alan Winde, , I’m, Theresa Jeyi, George Mayor Leon van Wyk, Organizations: CNN, Reuters, SABC Locations: African, George, Cape Town
Here are the biggest calls on Wall Street on Monday: Morgan Stanley initiates EHang Holdings as overweight Morgan Stanley said it's bullish on shares of the Asia autonomous aerial vehicle company. Morgan Stanley downgrades Victoria's Secret to underweight from equal weight Morgan Stanley said it sees "underappreciated downside" for the lingerie company. Citi downgrades Peloton to neutral from buy Citi said in its downgrade of the stock that it has "limited visibility." Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of U.S. Steel that it likes the company's "transformational investments." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating on Apple after analyzing the company's quarterly 10-Q report.
Persons: Morgan Stanley, it's, Baird, Morgan Stanley downgrades, Wells, Bausch, Lomb, Apple, Johnson, MLCO, Moffett, Melius, inferencing, JPMorgan Organizations: EHang Holdings, EH, Deutsche Bank, Disney, Deutsche, Micron, Citi, Comerica, CMA, Steel, U.S . Steel, Apple, Services, UBS, JCI, Barclays, Resorts, Nvidia, Broadcom, AMD, Microsoft, JPMorgan, Group, Bank of America, Santander Brasil, of America Locations: Asia, U.S
Shruti Gandhi has a simple rule for meeting founders: She only takes the meeting if she wants to invest. Being the solo general partner of her firm, the early-stage outfit Array Ventures, also means she can get deals done quickly. Over the past five years, she's returned most of her maiden $7 million fund to limited partners at a net multiple of almost four. For founders, by foundersThe founders Gandhi has backed like working with her because of her technical chops and hands-on approach. We will back you if you raise a fund,'" Gandhi said.
Persons: Shruti Gandhi, Gandhi, Nikhil Teja Kolli, Kolli, she's, wasn't, Dumbledore, Harry Potter, Champ Bennett, Zimperium's Zuk Avraham, Mehul Nariyawala, Google —, Doktor Gurson, Gurson Organizations: Ventures, Business, PayPal, IBM, Columbia University, True Ventures, Samsung, Google, University of Chicago Booth School of Business, Rad Locations: India, Poughkeepsie , New York, She's
CNBC's Jim Cramer said the market sell-off may have reached an end, noting that the averages rallied on Monday and "maybe the worst is behind us." '"I think the sell-off could finally be over," he said. "Stop waiting for a correction to give you better buying opportunities, we just had one for heaven's sake." Cramer listed several tech companies that have had notable losses over the past few months, including Nvidia and Microsoft . Microsoft rallied after solid earnings and cloud business success, according to Cramer, but it still declined along with the rest of the market.
Persons: CNBC's Jim Cramer, Cramer, he's Organizations: Nvidia, Microsoft, Federal
Every HR professional and hiring manager I spoke with — whose lives are supposedly made easier by Workday — described Workday with a sense of cosmic exasperation. "Workday does not have oversight or control of our customers' job application processes.") If candidates hate Workday, if employees hate Workday, if HR people and managers processing and assessing those candidates and employees through Workday hate Workday — if Workday is the most annoying part of so many workers' workdays — how is Workday everywhere? (Workday's "customers choose the frequency at which they conduct reviews, not Workday," said the spokesperson.) "HR software sucking" is a big tent.
Persons: you'd, Workday's, , David Duffield, Teladoc, UKG, Cory Doctorow, It's, He'd, Matt Alston's, Stone Organizations: Fortune, Netflix, Goodwill, Spotify, Washington Post, Ohio State University, FedEx, Nintendo, Honda, LinkedIn, IBM, Oracle, Bank of America, Automation, Rippling, Systems, Facebook, Wired Locations: San Francisco, Amazon's, It's, Bonusly, Maine
The deal illustrates data centers' new-found interest in nuclear power. Joe Dominguez, the CEO of Constellation, the nation's largest operator of nuclear plants, said in a March earnings call that powering data centers with nuclear energy was "kind of a perfect marriage." AdvertisementVistra, another nuclear owner, also indicated it was arranging data center deals for a nuclear plant it owns in Ohio and one in Texas. Greg Poulos, the executive director of a PJM watchdog group, said that "one of my highest priority, highest radar items" is how data centers could push costs onto consumers and also whether nuclear data centers deals could reduce grid reliability. Beyond the nuclear optionNot all data centers, of course, are seeking out nuclear power to seize their energy independence.
Persons: , Wes Swenson, Swenson, Joe Dominguez, Jim Burke, Ralph La Rossa, La Rossa, Steve Helber, Burke, Dominguez, PJM, Michael Jacobs, Brian Janous, Greg Poulos, Poulos, Biden Organizations: Service, Susquehanna, Amazon, Business, US Energy Information Administration, Nuclear, Constellation, Public Service Enterprise Group, Microsoft, International Energy Agency, Dominion Energy, Talen Energy, Energy, Union of Concerned Locations: Pennsylvania, Salt Lake City, Ohio, Texas, New Jersey, Our, Jersey, Virginia, Chester , Va, Susquehanna, Chicago, New York City
Cham ended up writing one of the first checks to Weights & Biases after he was convinced Biewald fulfilled his lofty criteria for backing founders. "I am looking for people who are trying to make a dent in the universe," Cham said. Instead of asking founders how they plan to make that dent, Cham prefers to spend lots of time observing them to see what makes them tick. Cham began making his own dent in the world after majoring in computer science at Harvard and becoming a consultant at Accenture. "The reality that the money that we make goes towards Bloomberg Philanthropies is something founders oftentimes find appealing," Cham said.
Persons: James Cham, Lukas Biewald, Cham, Biewald, Jeff Lawson, It's, Bloomberg Philanthropies, who've, James, Shreya Rajpal, who's, Rajpal Organizations: Bloomberg Beta, Business, Harvard, Accenture, Massachusetts Institute of Technology, Bessemer Venture Partners, Trinity Ventures, Bloomberg
Read previewThe Seed 100 and Seed 40 lists are derived from a statistical analysis of investor track records. Incubated by Tribe Capital, Termina is an AI-software platform that powers quantitative due diligence for leading investors around the world. Show intermediate signs of future success with seed investments that consistently receive follow-on investment. Ten percent of all seed investors in scope were women, up from 8% when the first Seed 100 was released in 2021. The result in just one year is the largest-ever rebalancing of how investors allocate seed capital across sectors.
Persons: , We've, We're, OpenAI, Termina, Jake Ellowitz Organizations: Service, Business, Tribe Capital Locations: USA, Canada
Lessons from the deadly anthrax attacks of 2001
  + stars: | 2024-05-05 | by ( John Miller | ) edition.cnn.com   time to read: +11 min
This was anthrax,” Pogan said, and he briefed his superiors. Between October 5, and November 22, 2001, five people who were exposed died from anthrax poisoning. For help, they turned to the US Department of Defense lab at Fort Detrick, Maryland, where anthrax expert Dr. Bruce Ivins worked. Investigators in protective suits prepare to enter the New York Times building in New York on October 12, 2001. Police cars are parked outside the American Media building in Boca Raton on Oct. 8, 2001 where environmental tests detected anthrax bacteria.
Persons: CNN —, Bin Laden, America, Robert Stevens, Tom Dachle’s, Tom Brokaw, Patrick Pogan, , , Judith Miller, Pogan, Miller, ’ Pogan, “ Hey, ” Pogan, John Scarbeck, Saddam Hussein, Bin, Bruce Ivins, Steven Hatfill, FBI swabbed, John Ashcroft, Peter Morgan, ” Dr, Bob Mueller, Mueller, Hatfill, Luis M, Alvarez, Dr, Ivins, John J, He’s Organizations: CNN, Center for Domestic Preparedness, Army, New York Police Department, ABC News, ABC, American Media, Boca, New York Post, NBC News, Terrorism Task Forces, New York Times, FBI, New York, New York City Health Department, Unit, US Department of Defense, Department of Defense, Reuters, Counterterrorism, LAPD, Justice Department, Police, Intelligence, Los Angeles Police Department Locations: Anniston, Alabama, Florida, Boca Raton , FL, Staten, New York City, , Fort Detrick , Maryland, Maryland, Rhodesia, Zimbabwe, New Jersey, New York, Boca Raton
A Meta product manager who also worked at Google in a similar role revealed some differences between the tech companies based on his experiences over the past six years. AdvertisementCompany transparencyMeta does maintain some of the transparency the company was known for in its earlier days, McKinnon wrote. At Meta, McKinnon was aware of what other teams were working on, partly through the company's internal forums and dashboards. At Google, employees mostly communicate through email or chat, so it's more difficult to know what everyone is doing, McKinnon wrote. At Google, McKinnon saw that projects were largely created and led by software engineers, and PMs played a more auxiliary role.
Persons: , Daniel McKinnon, Ray, McKinnon, Googlers, Meta's, Mark Zuckerberg, Sundar, Alphabet's, Sundar Pichai wasn't, Zuckerberg, Meta, VPs, Susan Li Organizations: Meta, Google, Service, Unit, Business, Facebook, . Software Engineers Locations: Meta
On Tuesday, Google’s employees gathered for an all-hands meeting named T.G.I.F. These companywide meetings are rarely held on Fridays these days, but the name has stuck. Executives shared highlights from a recent earnings report and cloud-computing conference, and warned workers against taking disruptive actions in the wake of internal protests against a cloud-computing contract with Israel. But no one in the meeting, two employees said, broached a topic that could have a dramatic impact on Google: its landmark antitrust trial with the Justice Department, where arguments are finally coming to an end this week. For eight months, while tech policy experts have tried to divine what a Google victory or loss would mean for the power of tech giants in the United States, Google’s employees have mostly ignored the antitrust fight, according to interviews with a dozen current and recent workers, who asked not to be identified because they were not authorized to discuss the legal matter.
Organizations: Google, Justice Department Locations: Israel, United States
A handful of stocks are entering or about to enter the worrisome so-called death cross. A death cross can also be indicative of a forthcoming bear market pattern. Intel Intel disappointed Wall Street's first-quarter expectations last week, when it posted a beat in earnings per share but came up light in revenue. McDonald's McDonald's has also drawn a death cross. CVS Health Unlike the other two names, CVS Health is nearing a death cross.
Persons: Wall Street's, Goldman Sachs, Toshiya Hari, McDonald's, Kevin Caliendo, Caliendo Organizations: Intel, CNBC, Intel Intel, Nvidia, CVS Health, CVS, UBS Locations: Gaza, mgt
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