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☆ It's 'liquidity, stupid': VCs say tech investing is tough amid IPO lull and 'nuts' AI hype
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention. And in the VC world, it's really all about liquidity stupid," Edith Yeung, general partner at Race Capital, an early-stage VC firm based in Silicon Valley, said in a CNBC-moderated panel earlier this week. When a VC makes an equity investment and the value of their stake increases, it's only a gain on paper. Yeung said the lack of IPOs over the last couple of years had created a "really tough" environment for venture capital.

Persons: Edith Yeung, Larry Aschebrook, G, Portugal —, Groq —, Yeung, there's, Big Techs Organizations: Race Capital, CNBC, Summit, Microsoft Locations: Lisbon, Portugal, LISBON, U.S, Silicon Valley

☆ A former Nvidia researcher who left the chip giant for academia shares why AI models should be open source and free for all
▼ + stars: | 2024-08-29 | by ( Helen Li | ) www.businessinsider.com time to read: +11 min

AI researcher Anima Anandkumar highlights the role of AI in weather, climate, and medical design. She formerly worked at Nvidia on machine learning research and now spearheads Caltech's AI research. The former Nvidia senior director of AI research and Amazon Web Services alum spent decades working at the forefront of AI algorithms and helped make Nvidia's FourCastNet weather simulator available as open source. I see that as the golden age of open research where even in industry, you could open source, you could publish, you could freely collaborate. To me, my goal to be having a dual appointment was to really enable open research and do that for beneficial tasks.

Persons: —, Anima, Anandkumar, fluidly, I've, ChatGPT, I'm, it's, Gavin Newsom, That's Organizations: Nvidia, Service, Web Services, Caltech, Business, Big, Big Tech, AWS, TED, Gov Locations: Big Tech, California

☆ Chinese millennials and Gen Zers have had enough of work, so they're embracing 'naked resignations'
▼ + stars: | 2024-07-06 | by ( Alexandra Bacon | Cheryl Teh | ) www.businessinsider.com time to read: +9 min

Advertisement'Naked resignation'One popular phrase on Chinese social media is "两点一线," which translates to "two points, one line." And discussion is rife on Chinese social media about 裸辞 — a term that translates, quite literally, to "naked resignation." Examples seen in BI's search of the keyword included "how much to save before naked resignation," "three things to consider before naked resignation," and "20 jobs to try after naked resignation." Advertisement"There are articles on Chinese social media criticizing gap years," she said, "arguing that it is a Western concept that does not adapt well to Chinese society." "There's a popular internet buzzword among Chinese young people, "Gai溜子," which can be roughly translated to "drifter" on the street," Lim added.

Persons: —, Jack Porteous, Tong, Porteous, aren't, Laurence Lim, Sally Maier, Yip, Qilai Shen, Lim, It's, Jack Ma, Qu Jing, Jenny Chan, Gen, Gai 溜 Organizations: Service, Business, Tong Global, Twitter, Publishing, Getty, Cherry, Consulting, Pictures, National Bureau of Statistics, Baidu, Hong Kong Polytechnic University Locations: China, Weibo, Xiaohongshu, Europe

☆ Premarket stocks: Big Tech earnings can make or break this market
▼ + stars: | 2023-10-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —In an unstable economic climate marked by geopolitical unrest, concerns about the Federal Reserve and soaring Treasury yields, investors are closely watching this week’s Big Tech earnings for clues about where the volatile stock market may head next. That means investors are watching their earnings particularly closely for prognostications about where the market is headed next. Big tech controls the market: Excluding Big Tech, the average earnings for S&P 500 companies would drop by 5% this quarter, according to Bloomberg Intelligence data. “Big Tech valuations pose risks for the broader markets, as Big Tech has contributed to almost all of the stock market’s year-to-date gains,” said David Bahnsen, chief investment officer of the Bahnsen Group. “This lack of market breadth suggests that investors are still highly prone to chasing momentum and getting overly excited about different market themes and stories, such as artificial intelligence.”It also suggests that there’s not a lot of room for any Big Tech earnings missteps.

Persons: —, ”, David Bahnsen, there’s, Louis Navellier, Matt Egan, ” Brian Nelson, Samantha Murphy Kelly Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Big Tech, Microsoft, Google, Nvidia, Apple, Bloomberg Intelligence, Bahnsen, Navellier, Associates, Treasury Department, Gulf Cooperation, United, United Arab Emirates, Saudi, GCC, Treasury, Hamas, United Arab, Mac, IDC Locations: New York, States, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, United Arab, Israel, US, Riyadh, United States, Sudan, Algeria, Turkey, United Arab Emirates, Treasury’s

☆ Banks are all-in on AI, but there's one problem: They can't hold on to the talent. Here's why.
▼ + stars: | 2023-05-23 | by ( Paige Hagy | Bianca Chan | ) www.businessinsider.com time to read: +9 min

Big banks are hiring a lot of AI talent, but are having a tough time holding on to it. The difficulty banks have retaining AI talent, however, isn't due to poaching among peers. Banks can lure in AI talentIt's true that big banks have the wherewithal to hire and capitalize on top AI talent and are attractive at the outset to those looking for a new shop. "The AI talent coming to the financial-services industry is almost like supporting the tech talent, if you will," Hirsch said. Big Tech has its own problems right nowTo be sure, banks are snagging from Big Tech too.

☆ Alibaba tells investors its overhaul will make the business more 'agile' with market changes
▼ + stars: | 2023-03-30 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

"We believe this will allow all of our businesses to become more agile, enhance their business decision-making, and respond faster to market changes," CEO Daniel Zhang told investors. "Alibaba Group will be in the nature of a holding company that is the controlling shareholder of the business group companies," Zhang said. When asked about the timeline of Alibaba's restructuring, Zhang said the "strategy and business planning for the business groups will commence immediately." CFO Tony Xu said separating Alibaba's entities would allow it to determine the performance of each business. "We believe that the market is the best litmus test so each business group company can pursue independent fundraising and IPOs as and when they are ready after going public," he said.

☆ Tesla, tech and travel stocks have ginormous gains this year
▼ + stars: | 2023-02-28 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

Beaten-up travel stocks have also enjoyed solid gains this year, as investors bet that the worst-case fears of an imminent recession may turn out to be for naught and consumers catch up on missed travel. Some fear this ferocious rebound in consumer and tech stocks may be happening too quickly. “That means there are broader opportunities outside of tech and growth stocks and more in the value and small cap sectors.”Growth stocks, and tech in particular, make more sense as investments if the Fed were set to start slashing interest rates. Add all that up and it could mean that the recent rebound for Tesla, big techs and media firms and other consumer stocks could be short-lived. “Inflation and interest rate uncertainty means we continue to believe value stocks, including the global energy sector, will outperform growth stocks,” Haefele said.

☆ Europe considers a digital currency as it strives to counter U.S. and China's tech dominance
▼ + stars: | 2023-02-16 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

The European Central Bank is working on a digital currency as the region seeks to protect itself from tensions with China and the United States. The central bank started investigating the feasibility of a digital euro back in October 2021. Right now, Europe lacks digital platforms," Guido Zimmermann, senior economist at German bank LBBW, told CNBC Wednesday. "Already now more than two thirds of European card payment transactions are run by companies with headquarters outside the European Union," she added. Mastercard , Visa , PayPal, Alipay and UnionPay make up the top global companies for payments.

☆ Re-think needed to regulate Big Tech in finance, says BIS' Carstens
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 8 (Reuters) - A "re-think" is needed on how to directly regulate activities of Big Tech companies in financial services given their size and influence, Bank for International Settlements General Manager Agustin Carstens said in Wednesday. "Without a doubt, a regulatory re-think is warranted, and we need a new path to follow. One that considers the key role of data in big techs’ DNA-based business model. One that strikes the right balance between benefits and risks," Carstens said in a speech. Reporting by Huw Jones; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ The S&P 500 could plunge another 16% and won't bottom until the Fed starts to cut interest rates, UBS says
▼ + stars: | 2022-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The S&P 500 will fall to 3,200 points before it hits a low in Q2 next year, UBS has forecast. US stocks won't recover until the Federal Reserve starts cutting interest rates, the bank said. "The speed of that pivot will drive every asset class next year," UBS strategists said Monday. The S&P 500 would have to fall 15.9% from its Monday close at 3,806 to reach that low level. Expectations of a Fed pivot could lift the S&P 500 to 3,900 points — a 2.4% gain from its close Monday – by the end of 2023, according to UBS.

☆ American Express just hired a new top cloud executive who was the CTO at Groupon and led tech at Goldman Sachs' Marcus
▼ + stars: | 2022-11-01 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

American Express just hired Sachin Devand as EVP and unit CIO of digital, data, and AI/ML tech. Devand is the former CTO of Groupon and was a managing director at Goldman Sachs. American Express just nabbed a new top cloud executive to oversee the development of cloud-based solutions, Insider has learned. Sachin Devand, the former CTO of ecommerce marketplace Groupon, joined the company on Monday after only eight months at Groupon, according to a person familiar with the situation. During his stint at Groupon, Devand was focused on increasing automation and streamlining the company's tech stacks.

☆ Stocks: Dow on track for best month in more than 45 years
▼ + stars: | 2022-10-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —The Dow fell slightly midday Monday but is still up 14% this month, putting it on track for its best monthly gain since January 1976. Still, it’s fitting that on Halloween, candy maker Hershey (HSY) is trading at an all-time high, Shares are up nearly 25% this year. That’s nearly half of the Dow stocks. Oil stocks and health care companies are leading the market, with Chevron (CVX), Merck (MRK) and Amgen (AMGN) topping the Dow leaders list. This list of well known, brand-name stocks trading at record highs is further proof of that point.

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