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☆ AI boom to keep supply of high-end memory chips tight this year, analysts warn
▼ + stars: | 2024-05-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Photographer: SeongJoon Cho/Bloomberg via Getty ImagesHigh-performance memory chips are likely to remain in tight supply this year, as explosive AI demand drives a shortage for these chips, according to analysts. "We expect the general memory supply to remain tight throughout 2024," Kazunori Ito, director of equity research at Morningstar said in a report last week. The demand for AI chipsets has boosted the high-end memory chip market, hugely benefiting firms such Samsung Electronics and SK Hynix, the top two memory chipmakers in the world. High-performance memory chips play a crucial role in the training of large language models (LLMs) such as OpenAI's ChatGPT, which led AI adoption to skyrocket. HBM's production cycle is longer by 1.5 to 2 months compared with DDR5 memory chip commonly found in personal computers and servers, market intelligence firm TrendForce said in March.

Persons: SeongJoon Cho, Kazunori Ito, Morningstar, William Bailey, TrendForce Organizations: Samsung Electronics Co, Galaxy, Bloomberg, Getty Images, SK Hynix, Micron, Samsung Electronics, Nvidia, Samsung, Nasdaq Locations: Seoul, South Korea

☆ Millennials stand to become the richest generation in history, after $90 trillion wealth transfer
▼ + stars: | 2024-03-01 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

However, over the next twenty years, Millennials are poised to inherit some $90 trillion of assets and become the richest generation in history – but only the ones who already come from affluent families, potentially deepening wealth inequality further. Between now and 2044 in the US, the Silent Generation and Baby Boomers are expected to hand over the reins of their significant wealth to Millennials, according to The Wealth Report, a periodic report from global property consultant Knight Frank. But whether you’re a Millennial on the receiving end of that wealth transfer is largely a lottery of birth. Looking ahead, the number of supremely wealth people is expected to increase by 28% over the next five years, according to the report. More growth in ultra-high-net-worth individuals is expected in Asia, including India, China, Malaysia and Indonesia, the report said.

Persons: Millennials, Knight Frank, Liam Bailey, ” Mike Pickett, Z, ” Pickett, “, ”, Bailey Organizations: DC CNN, Boomers, Cazenove Locations: Washington, North America, Africa, America, Asia, India, China, Malaysia, Indonesia

☆ A huge wealth transfer means millennials are poised to become 'the richest generation in history'
▼ + stars: | 2024-02-29 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Soaring rents, rising inflation and student debt are among some of the reasons millennials have struggled to purchase their own homes or build up their savings. A gigantic wealth transfer over roughly the next decade will likely make millennials "the richest generation in history," according to a report from global real estate consultancy Knight Frank. In the U.S. alone, Knight Frank said the shift would see $90 trillion of assets move between generations, "making affluent millennials the richest generation in history." Soaring rents, rising inflation and student debt have contributed to millennials' struggles to purchase their own homes or build up their savings. Liam Bailey, global head of research at Knight Frank, said that the wealth transfer is taking place amid "seismic changes" in how the assets are put to use.

Persons: millennials, Knight Frank, —, Liam Bailey, Bailey Organizations: Soaring

☆ How much wealth you need to be in the top 1% in countries around the world
▼ + stars: | 2024-02-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +3 min

Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028. AdvertisementAmericans need at least $5.8 million in net worth to be in the top 1% of wealth in their country — less than half of the 1% cutoff for Monaco. Wealth as measured by Knight Frank includes investments, cash, and assets such as residences. In 2022, the median net worth for the top 10th percentile was $2.56 million, whereas net worth was just $14,000 for those in the bottom 20th percentile.

Persons: —, Knight Frank, Liam Bailey, Frank, Bailey Organizations: Service, Monaco, US, Federal Reserve's Survey, Consumer Finances, Bank Locations: Monaco, Luxembourg, Switzerland, North America, India, China

☆ The hottest housing markets for the super rich in 2024
▼ + stars: | 2024-02-28 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

While luxury real estate has been buffeted by many of the same pressures as the rest of the market — low supply, slow sales, rising prices — the ultra-high-end has fared slightly better. With interest rates stabilizing and possibly falling this year, real estate experts say there are early signs that luxury supply may be growing, which could lead to more sales. The report forecasts that the best-performing U.S. luxury market this year for price growth will be Miami, with an expected increase of 4%, according to the report. New York ranked second in the U.S., with expected price growth of 2%, followed by Los Angeles with 1% growth. Globally, the top market for luxury real estate is expected to be Auckland, New Zealand, with projected price growth of 10% in 2024.

Persons: Douglas Elliman, Frank Wealth, Robert Frank, Liam Bailey, Knight Frank Organizations: Miami, New York Locations: U.S, Los Angeles, Auckland, New Zealand, Mumbai, Dubai, Madrid, Sydney, Stockholm

☆ A $96 Million Hindu Temple Opens Amid Accusations of Forced Labor
▼ + stars: | 2023-10-21 | by ( Sarah Pulliam Bailey | ) www.nytimes.com time to read: 1 min

Hindu pilgrims walked barefoot on the marble floors of the enormous temple, examining intricate stone carvings of deities etched into the ceilings and images of musical instruments and elephants along the white walls. As they approached a large gold shrine, many gasped in wonder, having arrived at the place where they believe God resides in the form of sacred images. The recent opening of Akshardham Mahamandir in Robbinsville, N.J., was a historic moment for Hindus in New Jersey and beyond. The temple, about 15 years in the making, is believed to be the largest in the Western Hemisphere and is expected to draw religious pilgrims and tourists from all over the world.

Organizations: Western Locations: Robbinsville, N.J, New Jersey

☆ Want to live in London or New York? Good luck if you’re renting
▼ + stars: | 2023-09-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —In May, Viveca Chow hurriedly transferred $3,700 over her phone while standing in the lobby of a building in Queens, New York. Average rents in New York and Sydney grew by an inflation-busting 4.7% and 6.9% respectively in the year to August, according to real estate firm Knight Frank. While growth in rental costs in both cities has slowed compared with its pandemic peaks, average rents are still at all-time highs. The Manhattan skyline reflected on the East River Ferry near the Queens borough of New York CIty in August 2022. Lifestyle influencer Viveca Chow feels lucky to have found a rent-stabilized apartment in New York City.

Persons: Viveca Chow, Chow, Knight Frank, Ismail Ferdous, Realtor.com, SpareRoom, Barnaby Scudds, “ I’m, ”, Andy Raim, Matt Hutchinson, ” Hutchinson, Liam Bailey, ’, Sadiq Khan, Nikodem Szumilo, ” Szumilo, Szumilo, Viveca, ” Chow, you’re Organizations: London CNN —, CNN, Bloomberg, Getty, Hamptons, Office, National Statistics, Bartlett Real Estate Institute, University College London Locations: Queens , New York, New York, Sydney, Manhattan, Queens, London, United Kingdom, Bartlett, Tokyo, New York City, That’s

☆ Britain's house prices are slumping as mortgage rates soar — and there could be worse to come
▼ + stars: | 2023-07-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

The average U.K. property now costs £285,932 (£364,490), down from a peak of £293,992 in August 2022. The summer is likely to see price cuts become even more widespread, and we may well see house prices fall more significantly. The summer is likely to see price cuts become even more widespread, and we may well see house prices fall more significantly," she added. In its latest global housing index released Wednesday, the real estate company said U.K. house prices fell 3.1% annually in the first quarter. Mortgage rates continue to rise

Persons: Kim Kinnaird, BOE, Sarah Coles, Hargreaves, Hargreaves Lansdowne Sarah Coles, Hargreaves Lansdowne, Coles, Nathan Stirk, Sellers, Liam Bailey, Knight Frank Organizations: Bank of England, Anadolu Agency, Getty, Hargreaves Lansdowne, CNBC, Mortgage Locations: Halifax

☆ Time to look beyond 'permacrisis' in 2023, researcher says
▼ + stars: | 2023-03-01 | 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 EmailTime to look beyond 'permacrisis' in 2023, researcher saysLiam Bailey, head of research at Knight Frank, joins the programme as the latest Wealth Report finds total wealth held by ultra-high-net-worth individuals fell by 10% in 2022, with Europe seeing the biggest decline.

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