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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: SoundHound AI is an Nvidia play, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: DigitalBridge Group, Pactiv Evergreen, Anheuser-Busch, and SoundHound AI.
Persons: Jim Cramer Organizations: Nvidia, DigitalBridge, Evergreen, Anheuser, Busch
Stock Chart Icon Stock chart icon DigitalBridge's year-to-date stock performance. Stock Chart Icon Stock chart icon Pactiv Evergreen's year-to-date stock performance. Stock Chart Icon Stock chart icon Anheuser-Busch's year-to-date stock performance. Stock Chart Icon Stock chart icon SoundHound AI's year-to-date stock performance. watch nowJim Cramer's Guide to Investing Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.
Persons: It's, Pactiv, SoundHound, Jim Cramer's Organizations: Anheuser, Busch, Constellation Brands, Nvidia
A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale
The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.
Persons: , ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt
DigitalBridge — Shares of the digital infrastructure company jumped 5.8% after JPMorgan upgraded the company to overweight from neutral. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Accenture — Shares of the IT and consulting firm fell nearly 5% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The used-car retailer's fiscal second-quarter earnings and revenue slipped from a year ago on weakening demand for used cars. Concentrix — Shares gained 10% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share.
Persons: Trimble —, DigitalBridge, Jefferies, Duolingo, Wolfe, Lululemon, CarMax, Concentrix, FactSet, , Jesse Pound, Christina Cheddar, Berk Organizations: Corporation, JPMorgan, Jefferies, UBS, Resorts, Wolfe Research, Accenture —, Accenture, StreetAccount, Micron, LSEG
The bank upgraded the stock to overweight from neutral and raised its price target to $25 from $19. DBRG YTD mountain DigitalBridge stock has climbed more than 51% from the start of the year. "The transformed DigitalBridge is a direct way for investors to benefit from digital infrastructure investment management on a global basis without being fully invested to one vertical or region," Choe said. "Investors are looking for focused alternative asset managers and digital infrastructure is highly attractive given long-term growth prospects, scale and return potential." "We believe DBRG will be able to raise capital in a more stable financial environment as rates level off and digital infrastructure gains broader appeal to pension, sovereign wealth and other infrastructure funds," he said.
Persons: DigitalBridge, Richard Choe, Choe, DBRG, Michael Bloom Organizations: JPMorgan
Micron — The chipmaker's shares fell 3.4% Thursday before the bell on the back of a weaker-than-expected earnings forecast. For the fiscal fourth quarter, the company posted a narrower-than-expected loss as well as revenue that topped expectations. CarMax — Shares fell nearly 12% as fiscal second-quarter earnings fell from a year ago on weakening demand for used cars. Peloton — Shares popped nearly 14% in premarket trading Thursday after Peloton and Lululemon announced a five-year strategic partnership on Wednesday. The company's fourth-quarter earnings forecast of $3.03 to $3.15 per share also fell below analysts' forecasts of $3.33 per share, according to FactSet.
Persons: Ryan Cohen, Matthew Furlong, CarMax, Lululemon, DigitalBridge, Concentrix, FactSet, , Sarah Min, Pia Singh Organizations: Micron, LSEG, GameStop, UBS, JPMorgan
Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday.
Persons: BTIG, Evercore, Teradata, Sunrun, it's, Ray Ban Smart, Needham, Wolfe, Bernstein, TSCO, Davidson's, Apple, Goldman Sachs, Goldman, Wendy's Organizations: Citi, UBS, Bank of America, Meta, Boeing, Davidson, Tractor Supply, JPMorgan, Huntington Ingalls Industries, Defense, Microsoft, Apple, Services, Digital Investment Management, Deutsche Bank, General Electric, Deutsche, GE, Emerson Electric Deutsche, Micron Locations: financials
Aug 3 (Reuters) - Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Other lenders in the facility include Coatue and DigitalBridge (DBRG.N), as well as BlackRock, PIMCO, and Carlyle (CG.O). Nvidia-backed CoreWeave has seen a boost from the generative AI boom thanks to its purpose-built cloud infrastructure at scale. It has partnerships with AI startups and cloud providers, which it also competes with, to build clusters to power AI workload. CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion.
Persons: Carlyle, Michael Intrator, CoreWeave, Krystal Hu, Conor Humphries Organizations: Magnetar Capital, Blackstone, Nvidia, Nvidia H100, CoreWeave, Microsoft, Google, Thomson Locations: BlackRock, PIMCO, Texas, U.S, New York
Investors combing for value ahead of another big week of earnings should look no further, according to analysts. CNBC Pro looked through top Wall Street research to find stocks that are underappreciated as earnings season continues. Meanwhile chatter around the stock remains mostly balanced and positive, according to UBS. "We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated," Serna said. ... We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated."
Persons: Mauricio Serna, Lee, Wrangler, Serna, Jason Kupferberg, it's, Kupferberg, Matt Niknam, DigitalBridge, Niknam, Baird, Jassy, DBRG, Morgan Stanley Organizations: CNBC Pro, Kontoor Brands, International, Kontoor Brands UBS, UBS, Bank of America, Deutsche Bank, TAM
The growth could put data centers in competition with local populations for space and resources. As my colleague Dan Geiger reports today in an excellent story on a data center development boom, the AI explosion has triggered a surge in investment in these warehouse-like complexes. For example, DataBank, a data center provider backed by investment firm DigitalBridge, is putting smaller data centers in the suburbs of "tier two and tier three cities," CEO Marc Ganzi told my colleague Ellen Thomas. Unlike e-commerce warehouses, these data centers don't add a bunch of traffic to the roads, and they're pretty quiet. As a result of limited generation capacity in places like Arizona and northern Virginia, these data centers are popping up anywhere where the local utilities can support them.
Persons: tony, Dan Geiger, Jonathan Gray, Blackstone, Marc Ganzi, Ellen Thomas Organizations: Morning, APS Locations: Ohio, Georgia, Virginia, Loudoun Meadows, Aldie , Virginia, Texas, Nevada, Utah, Phoenix, Atlanta, Reno, Arizona, Southwest
Training AI models in data centers uses up to three times more energy than traditional cloud tasks. A warning from a Microsoft data center veteranA Microsoft data center. MicrosoftTom Keane, who oversaw Microsoft's cloud data centers for about two decades, recently warned about this. An AI data center will need up to three times more power than a traditional cloud facility, he estimated. "The data center of the future is not in Virginia, it's not in Santa Clara, it's not in Dallas, Texas," Ganzi said.
Persons: Marc Ganzi, Cowen, Nammo, TikTok, Jack Clark, Matthew Barakat, Shaolei Ren, Microsoft Tom Keane, Keane, Bernstein, Mark Moerdler, DigitalBridge, Ganzi, it's, Ellen Thomas Organizations: Dominion Energy, Amazon, Microsoft, Google, McKinsey, Big Tech, Financial Times, AP, Nvidia, UC Riverside Locations: Northern Virginia, Manassas , Virginia, Virginia, DataBank, Santa Clara, Dallas , Texas
Brookfield and DigitalBridge are leading opposing bidding consortia in the auction for privately held DigitalBridge, the sources said, adding an outcome is expected by next month. The terms of Compass' debt allow for it to be taken over by a new owner without it being refinanced, one of the sources said. The Deal reported in February that Compass Datacenters was exploring a sale. Compass Datacenters, Brookfield Infrastructure Partners and DigitalBridge declined to comment. During the same month, Brookfield Infrastructure also acquired freight container lessor Triton International Ltd (TRTN.N) for about $4.7 billion.
Persons: Dealmaking, Brookfield, Milana Vinn, Anirban Sen, Daniel Wallis Organizations: Brookfield Infrastructure Partners, DigitalBridge, RedBird Capital Partners, Ontario, Azrieli, Brookfield Infrastructure, Reuters, Triton International, Boca, Thomson Locations: Brookfield, Dallas , Texas, Data4, Boca Raton , Florida, New York
Ardian, which is the second largest shareholder in INWIT behind European tower company Vantage Towers AG (VTWRn.DE), wants to take INWIT private and is working with advisers at JPMorgan Chase & Co (JPM.N) on a potential offer, the people said. Deutsche Telekom last year sold 51% of its tower business Funkturm to a consortium of Canada's Brookfield and U.S. private equity firm DigitalBridge. Any offer for INWIT could take months to materialise as preparations remain at a preliminary stage, one of the people said. The sources cautioned that an offer is not certain and asked not to be identified because the deliberations are confidential. Ardian, Vantage Towers, INWIT and JPMorgan declined to comment.
Financial stress stemming from Silicon Valley Bank's collapse could spread, a top fund manager said. But that in itself is becoming an under-the-radar issue, he noted, as large banks' strength is now coming at the expense of regional banks — even those without issues. Since most regional banks aren't classified as "systemically important," their clients would be out of luck in the event of a bank failure, Hatfield noted. Unless the FDIC insures all deposits at all banks, Hatfield said that there will be no reason to put money in a non-protected regional bank. So they'll have a negative interest margin, they'll lose money, they'll get downgraded, and they'll go out of business."
Private-equity firms bought data centers in near-record numbers last year, defying a broad deal-making slowdown in a bid to capture ever-growing demand for data storage and cloud computing. Data centers are warehouse-sized facilities that lease space in networks of computer servers to customers ranging from individual businesses to giant cloud-computing providers. As the underlying infrastructure for cloud-based digital tools, data centers support everything from video streaming and online gaming to workplace and remote work enterprise software, 5G networks and Internet-of-Things systems. In December, DigitalBridge Group Inc., a Boca Raton, Fla., private-equity firm, and investment services firm IFM Investors closed an $11 billion acquisition of Dallas-based data-center operator Switch Inc. “Large private-equity investors are clearly attracted to the continued robust take-up of data-center space by large hyperscale and social-media companies,” Mr. Lynch said.
There's a big buying opportunity in DigitalBridge , an under-the-radar digital infrastructure company, according to Deutsche Bank. Analyst Matthew Niknam initiated the stock with a buy rating and a price target of $18 per share, implying upside of 26.3% from Tuesday's close. Niknam said the company's high-growth model and sector resilience make it a promising buy even ahead of a potential economic downturn. "DigitalBridge's high-growth, and increasingly asset-light business model represent a unique approach to investing in digital infrastructure," the analyst wrote in a Tuesday note. "Additionally, given the transition from a legacy REIT structure towards more of an alternative asset manager, the shares have lacked a true "home", likely explaining the discount vs. its more seasoned (and larger) alternative asset manager peers."
Here are Wednesday's biggest calls on Wall Street: Evercore ISI downgrades Marriott to in line from outperform Evercore downgraded the hotel giant mainly on valuation. UBS reiterates Apple as buy UBS said that a foldable iPhone remains possible for Apple after the tech giant filed a recent patent. Morgan Stanley reiterates Amazon as overweight Morgan Stanley said it's standing by its bullish thesis on shares of the e-commerce giant. Wells Fargo reiterates Goldman Sachs as overweight Wells said it's standing by its overweight rating on the stock but that it's cautious heading into the company's investor day later this month. " Evercore ISI reiterates Salesforce as outperform Evercore raised its price target on the stock to $200 per share from $175 and said it's sticking with its outperform rating.
CTIL is attracting interest from pension funds including Britain's largest, the Universities Superannuation Scheme (USS), which has started preliminary work on a potential offer, two of the sources said. Telefonica, Liberty Global and USS declined to comment. A number of telecom towers deals in Europe have seen infrastructure investors compete for a slice of the continent’s largest towers networks partly because of their stable cash yield and long-term contracts. Vodafone (VOD.L) owns 50% of CTIL through its Frankfurt-based subsidiary Vantage Towers (VTWRn.DE), and is not planning to cut its holding, the people said. Telefonica and Liberty Global do not plan to ask Vantage Towers to bid for the holding for competitive reasons, according to the sources.
The S & P 500 is currently at around 3,839. Based on the current yield of 3.75%, the S & P 500 is "fairly valued" at 3,800 — implying no upside. 'Conviction themes' in 2023 Hatfield highlighted the "conviction investment themes" he expects to be very attractive in 2023. One asset class he highlighted was preferred stocks, which have the characteristics of both stocks and bonds . "We believe that preferred stocks are extremely attractive now as most are trading at more than a 20% discount to par.
SINGAPORE, Nov 22 (Reuters) - Malaysian telecoms firm TIME dotCom (TCOM.KL) is selling a major stake in its data centre business to U.S. infrastructure investor DigitalBridge Group (DBRG.N) for about 2 billion ringgit ($437.64 million), the companies announced on Tuesday. TIME will sell 49% of the ordinary shares and 100% of the irredeemable convertible preference shares in AIMS Data Centre Holding, and 21% of the ordinary shares in AIMS Data Centre (Thailand), according to the statement. Proceeds from the stake sales will be partly used by TIME to pay a special dividend of up to 1 billion ringgit to its shareholders, TIME's Commander-in-Chief Afzal Abdul Rahim said in the statement. The deal gave the AIMS business an enterprise value of 3.2 billion ringgit and compares to the 119 million ringgit TIME paid to buy it in 2012, according to the company. AIMS' current book value is 240 million ringgit.
Barrack was also acquitted of obstruction of justice and making false statements to FBI agents in 2019 about his interactions with Emirati officials and their representatives. Barrack raised money for Trump during the 2016 campaign and chaired Trump's 2017 inaugural committee. Also receiving a pardon was Paul Manafort, Trump's 2016 campaign chairman, who had been found guilty in 2018 of financial wrongdoing and sentenced to 7-1/2 years in prison. During his testimony, Barrack told jurors he never agreed to be a UAE agent or asked Trump for a pardon. Barrack's lawyers acknowledged that he sometimes sought feedback from Emirati officials, but that any impact on U.S. policy or public opinion was insignificant.
[1/3] Tom Barrack watches jury selection in a courtroom sketch in New York City, U.S. September 19, 2022. Tom Barrack, a private equity executive and onetime fundraiser for former President Donald Trump is charged with acting as a foreign agent without notifying the U.S. government as required. Barrack, 75, is also accused of obstruction of justice and making false statements to FBI agents in 2019 about his interactions with Emirati officials and their representatives. Barrack testified in his own defense during the trial, telling jurors he never agreed to be a UAE agent. Sam Nitze, a prosecutor, countered in a rebuttal that Emirati officials were "thrilled" at Barrack's comments about the country and its leaders during television interviews.
He argues that even when his interests aligned with the UAE's, he was acting on his own accord and not subject to Abu Dhabi's direction. Barrack's lawyers did not dispute that he had been in touch with Emirati officials and occasionally sought their feedback, but they said any impact on U.S. policy or public opinion was insignificant. Sam Nitze, a prosecutor, countered in a rebuttal that Emirati officials were "thrilled" at Barrack's comments about the country and its leaders during television interviews. He said the law was designed to make sure the U.S. government knew when someone was acting as a "mouthpiece" for a foreign government. Reporting by Luc Cohen in New York, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.
[1/2] Thomas Barrack, a billionaire friend of Donald Trump who chaired the former president's inaugural fund, exits the Brooklyn Federal Courthouse in Brooklyn, New York, U.S., October 3, 2022. Abu Dhabi then invested $374 million from its sovereign wealth funds with Barrack, prosecutors say. "Mr. Barrack traded his political access for a long-term relationship with top UAE officials ... who controlled vast oil wealth," Ryan Harris, an assistant U.S. attorney, told jurors on Tuesday. Barrack himself took the stand last week, testifying that he never agreed to act at Abu Dhabi's direction or control. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
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