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By contrast, Musk appeared to discourage OpenAI co-founders from taking a too-lean approach to fundraising, according to emails the company reproduced from December 2018. The startup also said in its blog post that Musk sought to become OpenAI's CEO in 2017 as it was changing its structure. In emails from January 2018 reproduced by OpenAI, Musk agrees with an unnamed sender who encouraged the startup's co-founders to rely on Tesla as their "cash cow." CNBC has not independently verified the authenticity of the emails included in OpenAI's response on Tuesday, some of which contained partial redactions. Attorneys for Elon Musk were not available to comment on Tuesday night after OpenAI published its response.

Persons: Elon Musk, Musk, OpenAI, Sam Altman, Greg Brockman, —, Google's, Sutskever, Brockman, Altman, Tesla, xAI, Elon, OpenAI isn't, — CNBC's Jordan Novet Organizations: SpaceX, Microsoft, The New York Times, X Corp, CNBC, Elon Locations: OpenAI

☆ Wealth manager for the super-rich names 3 stocks to buy right now
▼ + stars: | 2024-02-05 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

For Kevin Teng, CEO of Wrise Wealth Management Singapore, which serves ultra-high-net-worth individuals across Asia, the Middle East and Europe, three top stocks stand out as good plays right now. Of 52 analysts covering the stock, 48 give it a buy or overweight rating at an average price of $460.37, according to FactSet data. Barrick Gold Beyond tech and energy, Teng is also bullish on gold, naming Canadian miner Barrick Gold among his top picks. Spot gold prices are up around 7.5% over the last 12 months. Shares in Barrick Gold are down over 15% over the last 12 months.

Persons: Kevin Teng, Teng, Morgan Stanley, — CNBC's Jordan Novet, Fred Imbert Organizations: Big Tech, U.S . Federal, Wrise Wealth Management Singapore, Microsoft, Google, Apple, Nvidia, Tesla, CRM, CNBC Pro, ExxonMobil, Natural Resources, Exxon, Barrick, Barrick Gold Locations: Asia, East, Europe, West Texas, New Mexico, Guyana, Zambia, Pakistan

☆ Activision Blizzard CEO Bobby Kotick to step down at the end of the year
▼ + stars: | 2023-12-20 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Activision Blizzard CEO Bobby Kotick will step down from his role as head of the video game company on Dec. 29, according to an internal memo from Microsoft Gaming CEO Phil Spencer on Wednesday. The leadership change was expected after Microsoft closed its $69 billion acquisition of Activision Blizzard in October. He first joined the company as Director and CEO of Activision Inc., in February 1991 before serving as CEO of Activision Blizzard beginning in July 2008. In a memo to employees Wednesday, Kotick expressed "gratitude and appreciation" for his time at Activision Blizzard. Thomas Tippl, the vice chairman of Activision Blizzard; Rob Kostich, president of Activision Publishing; Mike Ybarra, president of Blizzard Entertainment; and others will report to Matt Booty, the president of Microsoft's Game Content and Studios.

Persons: Bobby Kotick, Phil Spencer, Kotick, Bobby —, Spencer, Tony Hawk, Thomas Tippl, Rob Kostich, Mike Ybarra, Matt Booty, Brian Bulatao, Dave McCarthy, — CNBC's Jordan Novet Organizations: Activision, Microsoft Gaming, Microsoft, Activision Blizzard, Activision Inc, CNBC, Activision Blizzard's, Activision Publishing, Blizzard Entertainment, Blizzard, Gaming, CNBC PRO Locations: U.S, Europe

☆ Hundreds of OpenAI employees threaten to follow Altman to Microsoft unless board resigns, reports say
▼ + stars: | 2023-11-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Hundreds of OpenAI employees, including co-founder and board member Ilya Sutskever, have signed a letter demanding that either OpenAI's remaining board members resign or those OpenAI employees will join Sam Altman's new venture at Microsoft , reports said. Five hundred and five OpenAI employees have signed the letter, Kara Swisher reported, representing the overwhelming majority of OpenAI's headcount. Multiple OpenAI employees voiced their support on social media as well. Altman was forced out Friday by OpenAI's board, including Sutskever, which cited unspecified issues with his communications. Microsoft CEO Satya Nadella on Sunday announced that Altman and fellow OpenAI co-founder Greg Brockman would join the company in a new, largely independent venture.

Persons: Sam Altman, Ilya Sutskever, Sam Altman's, Kara Swisher, Mira Murati, Brad Lightcap, Murati, Twitch, Emmett Shear, Sutskever, Altman, OpenAI's, Altman's, Satya Nadella, OpenAI, Greg Brockman, OpenAI wasn't, — CNBC's Jordan Novet, Hayden Field Organizations: OpenAI, Tech, Microsoft, Wired, CNBC, Sunday Locations: Laguna Beach , California, Sequoia, OpenAI

☆ IBM suspends advertising on X after report says ads ran next to antisemitic content
▼ + stars: | 2023-11-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

IBM has paused advertising on X after a report found that the tech company's ads were placed next to antisemitic content on the platform formerly known as Twitter. Researchers and advocacy groups have documented a rise of controversial content on X, though the company has disputed those claims. An X spokesperson told CNBC in an email that the accounts that Media Matters said were posting the hateful content would no longer be monetizable. IBM's decision to halt advertising on X also comes after Musk on Wednesday boosted and drew attention to an antisemitic X post and issued statements that drew backlash from critics. "When it comes to this platform — X has also been extremely clear about our efforts to combat antisemitism and discrimination," Yaccarino wrote.

Persons: Hitler, Linda Yaccarino, Elon Musk, Oracle didn't, Musk, Jonathan Greenblatt, Yaccarino, Jordan Novet Organizations: IBM, CNBC, Media, America, Apple, Bravo, Oracle, Nazi Party, Elon, Comcast, Defamation League, Disney, Google Locations: Israel, America

☆ LinkedIn's new AI chatbot wants to help you get a job
▼ + stars: | 2023-11-01 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

LinkedIn debuted an artificial intelligence-powered chatbot Wednesday that it's billing as a "job seeker coach," and unveiled other generative AI tools for Premium members. The new AI chatbot, which aims in part to help users gauge whether a job application is worth their time, is powered by OpenAI's GPT-4 and began rolling out to some Premium users Wednesday. "We had to build a lot of stuff on our end to work around that and to make this a snappy experience," Berger told CNBC in an interview. The chatbot will also point to potential gaps in a user's experience that could hurt them in the job application process. In the past, many uses of AI in hiring or job applications have faced criticism for bias against marginalized communities.

Persons: OpenAI's GPT, Erran Berger, Berger, We've, we've, Jordan Novet Organizations: LinkedIn, Microsoft, CNBC, Harvard Business, Tech, Qualcomm

☆ Microsoft shares rise as Wall Street heralds ‘strong execution,’ wider AI rollout
▼ + stars: | 2023-10-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The company also beat revenue consensus among analysts surveyed by LSEG, formerly known as Refinitiv. Microsoft reported revenue of $56.52 billion for the quarter, compared to a consensus estimate of $54.50 billion. Zelnick raised his price target from $380 to $395, adding that "operating discipline" and "a full-stack approach to delivering AI solutions" was just as, if not more impressive, than Microsoft's revenue beat. Azure revenue alone, which Microsoft doesn't disclose in dollars, grew 29% during the quarter. Comments from Microsoft executives helped boost analyst sentiment as well, with Chief Financial Officer Amy Hood saying on a Tuesday call with analysts, "We feel good about our execution, we feel good about taking share and we feel good about consistent trends."

Persons: Brad Zelnick, Zelnick, Raimo Lenschow, Microsoft's, Lenschow, Amy Hood, Jordan Novet, Michael Bloom Organizations: Microsoft, LSEG, Deutsche Bank, Software, Barclays, CNBC

☆ Oracle stock suffers steepest drop since 2002 on weak revenue guidance
▼ + stars: | 2023-09-12 | by ( Ari Levy | ) www.cnbc.com time to read: +2 min

Oracle shares plummeted 12% on Tuesday, their steepest drop in over two decades, after the software maker reported disappointing revenue and issued weaker-than-expected guidance. For the current quarter, Oracle said revenue will increase 5% to 7%, falling short of the 8% average analyst estimate. Revenue in Oracle's cloud services and license support segment rose 13% from a year earlier, topping StreetAccount's consensus of $9.44 billion. But sales in the cloud license and on-premises license segment fell 10% to $809 million, missing estimates. Even with Tuesday's stock drop, Oracle shares are up 34% year to date, beating the S&P 500, which is up 16%.

Persons: Larry Ellison, Ellison, Jeff Bezos, Warren Buffett, Stifel, Safra Catz, Catz, — CNBC's Jordan Novet Organizations: Oracle, Forbes, Amazon, Human Capital Management Software, Revenue

☆ Activision Blizzard stock surges 10% after judge rules on Microsoft deal
▼ + stars: | 2023-07-11 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Shares of Activision Blizzard closed up 10% on Tuesday after a judge denied the Federal Trade Commission's motion for a preliminary injunction to stop Microsoft from acquiring the video game maker. Activision Blizzard's stock reached a 52-week high of $92.91 per share, and the move reflects the biggest jump for the video game publisher since the deal was first announced on Jan. 18, 2022. Activision Blizzard shares hit their highest close since July 2021. Microsoft agreed to buy Activision Blizzard for $68.7 billion, or $95 per share, but the acquisition has faced opposition in the U.S. and abroad over concerns that it could stifle competition. The FTC can now bring the decision to the U.S. Court of Appeals for the 9th Circuit, and Microsoft and Activision Blizzard must find a way forward to resolve opposition from the Competition and Markets Authority in the United Kingdom.

Persons: Jacqueline Scott Corley, Bobby Kotick, — CNBC's Jordan Novet Organizations: Activision Blizzard, Federal, Microsoft, Activision, Jan, U.S, Northern, Northern District of, Court, FTC, U.S ., Appeals, Circuit, Competition, Markets Authority Locations: U.S, Northern District, Northern District of California, United Kingdom

☆ Google's new A.I. search could hurt traffic to websites, publishers worry
▼ + stars: | 2023-05-11 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Instead of "ten blue links," the phrase that describes Google's usual search results, Google will show some users paragraphs of AI-generated text and a handful of links at the top of the results page. But website publishers are already worried if it becomes Google's default way of presenting search results, it could hurt them by sending fewer visitors to their sites and keeping them on Google.com. Rutledge Daugette, CEO of TechRaptor, a site focusing on gaming news and reviews, said Google's move was made without considering the interests of publishers and Google's AI amounts to lifting content. According to Search Engine Land, a news website that closely tracks changes to Google's search engine, the AI-generated results are displayed above the organic search results in testing so far. CNBC previously reported Google's plans to redesign its results page to promote generated AI content.

The nominating window closes March 14, and it is unclear if it is two or three nominees, Faber said on " Squawk on the Street ." The slate will likely include Jesse Cohn who runs the activist practice at Elliott, according to people familiar with the situation, but Faber said his position hasn't been confirmed. Activist investor Elliott Management has nominated a slate of directors for Salesforce 's board, sources told CNBC's David Faber on Wednesday. Elliott Management unveiled its multibillion-dollar investment in Salesforce in January, and the company said ValueAct Capital CEO Mason Morfit will join its board this month. Dan Loeb's hedge fund, Third Point, has also built a position in the company, CNBC confirmed in February.

☆ Salesforce is cutting 10% of its personnel, more than 7,000 employees
▼ + stars: | 2023-01-04 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Salesforce is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company announced Wednesday. Days later, the company announced the departure of Slack CEO Stewart Butterfield, who joined Salesforce as part of its biggest acquisition ever. Now, like many other major tech companies, Salesforce is looking to cut costs as it contends with slowing revenue growth and a weakening economy. Amazon, Lyft, HP and DoorDash also announced significant cuts to their workforces. Salesforce said it expects its employee restructuring to be complete by the end of fiscal 2024, and its real estate restructuring to be complete by fiscal 2026.

☆ The tech IPO market collapsed in 2022, and next year doesn't look much better
▼ + stars: | 2022-12-29 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

The Stockholm-based company raised financing at a $6.7 billion valuation this year, an 85% discount to its prior valuation of $46 billion. Butler doesn't expect the IPO market to get appreciably better in 2023. Butler also thinks that Silicon Valley has to adapt to a shift away from the growth-first mindset before the IPO market picks up again. Butler said he expects this "cultural reset" to take a couple more quarters and said, "that makes me remain pessimistic on the IPO market." Databricks raised $1.6 billion at a $38 billion valuation in August of 2021, near the market's peak.

☆ Microsoft shares sink more than 8% on weak guidance, but analysts bullish on rebound
▼ + stars: | 2022-10-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Microsoft dropped as much as 8% early Wednesday, a day after the company released its fiscal first-quarter earnings. Microsoft surpassed expectations on the top and bottom lines, but the stock was pressured by weak guidance and cloud revenue that missed expectations. CEO Satya Nadella said on a conference call with analysts that cyclical trends are affecting Microsoft's consumer business. Analysts at Morgan Stanley also remain confident in Microsoft's growth potential despite its weak cyclical areas and guidance. Microsoft shares have fallen about 25% so far this year, while the S&P 500 stock index is down 19% over the same period.

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