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Microsoft Copilot and Google Gemini have been advertised as AI-powered productivity tools. But Ethan Mollick, a leading AI expert, has a more cynical view of the products. Copilot automates middle management while Gemini makes surveillance easier, he told WSJ. AdvertisementMicrosoft and Google rolled out their own AI-powered productivity tools last year, touting them as products that could revolutionize how people work. This story is available exclusively to Business Insider subscribers.
Persons: Ethan Mollick, , JP Morgan Organizations: Microsoft, Google, Gemini, Service, University of Pennsylvania's Wharton School of Business, White, Business
Microsoft plans to boost spending on AI and cloud services as demand rises. Microsoft's spending commitment follows leaked plans to acquire 1.8 million AI chips in 2024. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In its third-quarter earnings call on Thursday, the tech giant said it will continue to invest in AI and cloud services because of growing demand and a rise in average spending on its cloud platform, Azure.
Persons: , Amy Hood Organizations: Service, Microsoft, Business
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. But Jim Cramer said Friday that he "asked for granularity and we got it." 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, Jim, Jim Cramer's Organizations: CNBC, Federal, Microsoft, Nvidia, Nasdaq
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft has to show evidence that Copilot is a money maker, says Harvest Portfolio's Paul MeeksPaul Meeks, Harvest Portfolio Management co-CIO, joins 'Squawk Box' to discuss Alphabet and Microsoft's quarterly earnings results, whether tech investors should be wary of the macro environment, impact of AI, and more.
Persons: Paul Meeks Paul Meeks Organizations: Microsoft, Management
Here are Friday's biggest calls on Wall Street: Bank of America reiterates Alphabet as buy Bank of America said it is sticking with its buy rating on Alphabet following earnings Thursday. Deutsche Bank reiterates Snap as buy Deutsche Bank said it is sticking with its buy rating on the stock following earnings on Thursday. " Goldman Sachs reiterates Intel as sell Goldman Sachs said it is standing by its sell rating on Intel shares following earnings Thursday. Benchmark upgrades Western Digital to buy from hold Benchmark upgrades Western Digital following the company's "major upside" earnings report. Bank of America reiterates Nvidia as buy Bank of America said Nvidia remains a top idea at the firm.
Persons: Goldman Sachs, prioritization, Maxim, Bank of America downgrades Hertz, Raymond James, Knight, Morgan Stanley downgrades Mobileye, Morgan Stanley, Piper Sandler, Wells, Dow Organizations: Bank of America, Deutsche, Deutsche Bank, Microsoft, Intel, TAM, Apple, Barclays, Enphase Energy, Digital, " Bank of America, Sonic Automotive, underperform Bank of America, Underperform, of America, Nvidia, AMD, MU, Caterpillar, Air Defense, Swift Transportation, EPAM, IT Services, Materials, Compass Minerals, JPMorgan, Dow, Teledyne, HSBC Locations: China, underperform, Israel
And the initial signs are quite positive here too," Zuckerberg told investors in an earnings call. AdvertisementElon Musk had even stronger words for investors on Tuesday after Tesla reported plunging profits. Even so, Musk insisted during an earnings call that Tesla is an AI company and had a specific message to any shareholder who thinks that Tesla won't develop self-driving someday. On Thursday, Microsoft and Alphabet reported profits, which they ascribed in part to their respective AI sectors. Google's parent company reported $23.7 billion in profits for the same period.
Persons: , Apple, Demis Hassabis, Sam Altman, Mark Zuckerberg, Zuckerberg, we've, Elon Musk, Tesla, Musk, Matthew Prince, Sundar Pichai, Pichai Organizations: Service, Meta, OpenAI's, EV, Economic, Reuters, Nvidia, Microsoft Locations: Davos
"These are big checks made out to get Blackwells and H200s from, yes, Nvidia," Jim Cramer said during Friday's Morning Meeting . "There are a lot of people … that think this stock is a dangerous stock," Jim said. The next earnings report to shed light on demand for Nvidia's AI chips is set for Tuesday evening when Club name Amazon releases first-quarter results. While Amazon also has custom AI chips, it's a sizable Nvidia customer and the companies have enjoyed a longtime partnership. Even electric vehicle maker Tesla indicated earlier this week that it plans to buy tens of thousands more Nvidia chips this year to support self-driving car efforts.
Persons: Wall, Jim Cramer, Blackwell, OpenAI, There's, Jim, Wednesday's, – tanked, Alphabet's, FactSet, Ruth Porat, capex, Porat, Amy Hood, Hood, Microsoft's, Tesla, Jim Cramer's, Jensen Huang, Josh Edelson Organizations: Nvidia, Microsoft, Investors, Devices, Meta, Facebook, Bank of America, AMD, Broadcom, Wall, Google, Amazon, CNBC, SAP Center, AFP, Getty Locations: , U.S, San Jose , California
Best in months: The S & P 500 and Nasdaq are both higher on Friday, on pace for their best weeks since November. The gains break a three-week losing streak for the broad-based S & P and four straight losing weeks for the tech-heavy Nasdaq. About 46% of the S & P 500 has reported earnings so far, with nearly three quarters beating consensus expectations, according to FactSet. Earnings ahead : The busiest week of the first-quarter earnings season is coming up. But the company will still be buying back stock ahead of better times."
Persons: Jim Cramer, there's, Grace Hopper Superchip, Sanjay Mehrotra, Lam, Sanjay, we'll, Dow, Dupont, Jim Cramer's, Jim, Milton J, Kevin Lamarque Organizations: CNBC, Nasdaq, Microsoft, Intel, Nvidia, Micron, Lam Research, Apple, Coterra Energy, Starbucks, DuPont, Jim Cramer's Charitable, Micron Technology, Rubenstein Museum of Science, Technology Locations: Chevron, Devon, Syracuse , New York, U.S
US stocks rose on Friday as markets assessed new inflation data in the form of March PCE. The Fed's preferred gauge showed inflation rose 2.8% year-over-year, slightly higher than estimates. AdvertisementUS stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%.
Persons: , Clark Bellin Organizations: PCE, Microsoft, Google, Service, Federal, Bellwether
Alphabet shares surged in Friday's premarket after a blowout earnings report for the Google owner. AdvertisementAlphabet stock surged ahead of Friday's opening bell as investors cheered the Google owner's blowout first-quarter earnings. If those gains hold until the opening bell, its valuation will top $2 trillion for the first time. Meanwhile, Microsoft stock made more modest gains after it reported first-quarter earnings on Thursday afternoon. Shares were up almost in pre-market trading, putting its market capitalization on course to jump about $11 billion at the opening bell back above $3 trillion.
Persons: , AJ Bell, Russ Mould, Amy Hood, hadn't, OpenAI, Sophie Lund, Yates, Hargreaves Lansdown Organizations: Google, Microsoft, Nasdaq, Big Tech, Service, Apple Locations: Friday's
Earnings of $1.89 per share topped the $1.51 in earnings per share anticipated by analysts polled by LSEG. Revenue of $80.54 billion topped expectations of $78.59 billion. Revenue of $83.08 billion topped estimates of $78.35 billion. Otherwise, Chevron's earnings of $2.93 per share topped the consensus estimate of $2.87 in earnings per share. Charter Communications — The broadband and cable provider dropped 3.4% after first-quarter earnings came in weaker than anticipated.
Persons: Snap's, Chevron's, LSEG, AutoNation, AbbVie, Skechers, FactSet, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Microsoft, LSEG, Intel —, Intel, Exxon Mobil, Chevron, Colgate, Palmolive, Revenue, Charter Communications, Charter Locations: LSEG .
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlphabet and Microsoft had two of the best quarters I have ever seen, says Jim Cramer'Mad Money' host Jim Cramer takes a look at next week's market moving moments.
Persons: Jim Cramer Organizations: Microsoft
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at how the latest GDP data has shifted the expectations of where the economy is headed. Now, the economy will need some type of event (see: bubble popping) for rate cuts to become an option anytime soon, Miskin said. Energy price shocks could bring the world economy to a "vulnerable moment," chief economist Indermit Gill warned.
Persons: , TikTok, they're, you'd, Jia Feng, It'll, Insider's Madison Hoff, It's, Jerome Powell, Anna Moneymaker, BI's Filip De Mott, Jamie Dimon, Matt Miskin, Miskin, Mark Zuckerberg, C, Cox, Jenny Chang, Rodriguez, Goldman Sachs, Guess what's, Indermit Gill, Alphabet's, Redmond, Tyler Le, Doug McMillon, execs, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Reserve, stagflation, JPMorgan, Wall Street, John Hancock Investment Management, Galatioto Sports Partners, Bank, Google, Big Tech, Microsoft, Health, Linkedin, YouTube, ExxonMobil Locations: Chevron, New York, London
Washington CNN —The US government has asked leading artificial intelligence companies for advice on how to use the technology they are creating to defend airlines, utilities and other critical infrastructure, particularly from AI-powered attacks. The Department of Homeland Security said Friday that the panel it’s creating will include CEOs from some of the world’s largest companies and industries. The list includes Google chief executive Sundar Pichai, Microsoft chief executive Satya Nadella and OpenAI chief executive Sam Altman, but also the head of defense contractors such as Northrop Grumman and air carrier Delta Air Lines. It also includes federal, state and local government officials, as well as leading academics in AI such as Fei-Fei Li, co-director of Stanford University’s Human-centered Artificial Intelligence Institute. The US government already uses machine learning or artificial intelligence for more than 200 distinct purposes, such as monitoring volcano activity, tracking wildfires and identifying wildlife from satellite imagery.
Persons: Sundar Pichai, Satya Nadella, Sam Altman, Northrop Grumman, , Alejandro Mayorkas, Fei Li, Joe Biden Organizations: Washington CNN, Department of Homeland Security, Google, Microsoft, Delta Air Lines, DHS, , Amazon Web Services, IBM, Cisco, , Civil, Stanford, Intelligence, Safety, Security
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeepwater Asset Management only sees 3 to 7 large language model 'winners'Doug Clinton of Deepwater Asset Management thinks Google and Microsoft will be winners in consumer and enterprise AI services respectively, while many smaller providers will fall by the wayside.
Persons: Doug Clinton Organizations: Asset Management, Google, Microsoft
David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.
Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio
Read previewThere's an AI battle raging, and Sundar Pichai appears to be Google's wartime general. With Pichai at the helm, Alphabet just reported blockbuster first-quarter earnings that surpassed analysts' estimates and sent the stock soaring. The CEO told analysts that Google was well "positioned for the next wave of AI innovation and the opportunity ahead," reminding them the company had been "AI-first" since 2016. This story is available exclusively to Business Insider subscribers. Google did not immediately respond to a request for comment from Business Insider, made outside normal working hours.
Persons: , Sundar Pichai, Pichai, Googlers, He's Organizations: Service, Google, Business, Microsoft
European markets were poised to open higher Friday, regaining momentum after a dip in yesterday's session. The pan-European benchmark Stoxx 600 index ended Thursday's session lower as investors digested a slew of first-quarter earnings, as well as a potential mining takeover bid. Looking ahead, corporate releases on Friday come from L'Oreal, TotalEnergies and NatWest. Asia-Pacific markets were higher after the Bank of Japan kept its benchmark policy rate at 0%-0.1%, as expected. Meanwhile, U.S. stock futures rose overnight as Big Tech names Alphabet and Microsoft saw shares rally on strong earnings.
Organizations: L'Oreal, TotalEnergies, NatWest, Bank of Japan, U.S, Big Tech, Microsoft Locations: Asia, Pacific
Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.
Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, , Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Jefferies' Brent Thill on Microsoft and Alphabet earningsBrent Thill, Jefferies senior analyst, joins 'Squawk on the Street' to discuss if analysts are done worrying about threats to Alphabet's search, if Alphabet's capital expenditures are reasonable, and much more.
Persons: Jefferies, Brent Thill Organizations: Microsoft, Jefferies
Bank of America says the ongoing "anything but bonds" bull market has led to a very top-heavy stock market. The firm is watching real 10-year yields and credit spreads for signals of when that AI-led rally could end. BofA says higher yields and tighter spreads could sound recession alarms and spur a stock sell-off. The key piece is the cohort of mega-cap tech companies that have long dominated stock-market performance, largely because of their affiliation with AI. In the meantime, if you subscribe to BofA's view, you should be watching the 10-year real yield for a signal of when any such downturn is coming.
Persons: BofA, , YCharts There's Organizations: of America, Service, Bank of America, Apple, Nvidia, Microsoft
Big tech earnings reports have put investors on quite the roller coaster. Alphabet , Microsoft and Tesla have all moved higher post earnings, while Meta and IBM had opposite reactions by dropping precipitously. Inside of this recent technology, I think it is time to add to a nearly forgotten Magnificent Seven laggard: Apple . Apple is down 11% year to date, and I want to add exposure in a zero-cost manner ahead of its earnings release next Thursday. Investors are anticipating a year-over-year decline in both earnings and revenue for this former tech favorite, but I believe this is already priced into the stock.
Organizations: Microsoft, Tesla, Meta, IBM, Apple, Big, mojo
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS stocks closed higher on Friday to end the best week since November, with tech rallying after earnings from mega-cap stalwarts. Instead, traders focused mostly on earnings strength from Alphabet and Microsoft. In a Friday note, Fundstrat's Mark Newton pointed out that the earnings of Alphabet and Microsoft are paving the way for a broad rally. Next week, Apple and Amazon, will release earnings and investors will be focused on the Fed's next policy meeting scheduled for April 30-May 1.
Persons: , Fundstrat's Mark Newton, Savita Subramanian, we're, it's, Subramanian Organizations: Microsoft, Service, Federal, Amazon, Nvidia, Technology, Bank of, CNBC, Apple, Dow Locations: Here's
Earnings of $1.89 per share beat the $1.51 in earnings per share anticipated by analysts polled by LSEG. Exxon Mobil — The energy stock fell more than 2% after Exxon Mobil posted first-quarter adjusted earnings that missed analysts' forecasts. Revenue of $83.08 billion topped estimates of $78.35 billion. ResMed — Shares soared 17% after fiscal third-quarter results topped analysts' estimates. Snap — Shares soared 28% after the social media company posted adjusted earnings and revenue that defied analysts' expectations, per LSEG.
Persons: FactSet, LSEG, Skechers, Roku, Rowe Price, , Samantha Subin, Alex Harring, Lisa Kailai Han, Sarah Min Organizations: Microsoft —, Google, LSEG, Exxon Mobil, Intel, Revenue, Charter Communications, Technologies, Management Locations: LSEG .
Microsoft and Alphabet reported quarterly earnings that beat Wall Street's expectations. On Thursday, just off the heels of Meta's mixed first-quarter results that caused a dip on Wall Street, Microsoft and Alphabet just proved that there's money to be made off of artificial intelligence. However, the executive also made sure to highlight the contributions of Google Cloud, which now comes with generative AI services through Google's AI model, Gemini. Investors appeared pleased with Microsoft's and Alphabet's quarterly performance, which gave the companies a stock surge, as Wall Street continues to nurse a hangover from Meta's first-quarter report. "They have a goldmine of AI engineers and data, and now they're starting to monetize it," Ives said of Alphabet and Microsoft.
Persons: Wedbush's Dan Ives, , Meta's, Sundar Pichai, Mercedes, Pichai, Ruth Porat, Satya Nadella's, Nadella, Microsoft's, Dan Ives, Ives Organizations: Microsoft, CNBC, Service, Google, Bayer, Cintas, Mercedes Benz, Walmart
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