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Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. "We can't seem to mount any sort of rally for the likes of Club stocks Eaton and Dover . 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, that's, Cramer, Jim, Dell, Brown, Forman, we'll, Jim Cramer's, Michael Dell, Kike Rincon Organizations: CNBC, Labor, Procter, Procter & Gamble, Costco, May, Services, Jim Cramer's Charitable, Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Europa Press, Getty Locations: Procter &, Costco, Eaton, Dover, CrowdStrike, Campbell Soup, L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain
Shares of Dell Technologies fell more than 16% Friday after investors were discouraged by the company's lower-than-expected artificial intelligence server backlog and an estimated decline in margins. Bernstein analysts said the "principle disappointment" in Dell's results was that operating margins for its Infrastructure Solutions Group compressed year over year. Additionally, operating profits were flat compared with the same period last year, even though the company brought in around $1.7 billion in incremental AI server revenues. The analysts said this resurfaced concerns that Dell's AI servers are being sold at "near-zero margins." Bank of America analysts said Dell reported a strong quarter, and they reiterated their buy rating on the stock.
Persons: Michael Dell, Dell, FactSet, Bernstein, — CNBC's Michael Bloom, Kif Leswing Organizations: Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Dell, Infrastructure Solutions, Bank of America, JPMorgan Locations: L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain
Google DeepMind co-founder and Chief Executive Officer Demis Hassabis gives a conference during the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. The CEOs of artificial intelligence heavyweights Google DeepMind, Microsoft AI, Anthropic and Mistral AI are among the elite list of business and political leaders attending a secretive meeting kicking off in Madrid, Spain, on Thursday. AI will once again dominate discussions at the annual Bilderberg Meeting after catapulting onto the agenda last year following the meteoric rise of the burgeoning technology. U.S. Deputy Treasury Secretary Wally Adeyemo, Ukrainian Foreign Minister Dmytro Kuleba and NATO Secretary General Jens Stoltenberg are also among the political figures who will attend for geopolitical discussions including on China and Russia. According to its organizers, the closed nature of the event aims to foster "informal discussions about major issues."
Persons: Demis Hassabis, Jane Fraser, Eric Schmidt, Albert Bourla, Wael Sawan, Peter Thiel, Wally Adeyemo, Dmytro Kuleba, Jens Stoltenberg Organizations: Google, Mobile World Congress, MWC, Microsoft, Mistral, Citigroup, Pfizer, NATO, Chatham House, Economic Locations: Barcelona, Madrid, Spain, Ukrainian, China, Russia, Spanish, Chatham, Davos, Switzerland
Dell shares fall despite growing AI server business
  + stars: | 2024-05-30 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Michael Dell, Chairman and CEO of Dell Technologies, is speaking at the Mobile World Congress 2024 in Barcelona, Spain, on February 27, 2024. Dell reported first-quarter earnings on Thursday that beat analyst estimates for earnings and sales, as the company has emerged as one of the top vendors for AI servers. When the company reported earnings in February, it reported earnings per share that were significantly higher than expectations. Dell reported $955 million in net income during the quarter, or $1.32 per diluted share, versus $578 million, or 79 cents, in the year-ago period. Dell's division including data center sales, called Infrastructure Solutions Group, saw sales rise 22% on an annual basis to $9.2 billion.
Persons: Michael Dell, Dell, FactSet, Jensen Huang Organizations: Dell Technologies, Mobile, Infrastructure Solutions, Dell, Nvidia, Solutions Locations: Barcelona, Spain
Samsung at the Mobile World Congress 2023 on March 2, 2023, in Barcelona, Spain. (Photo by Joan Cros/NurPhoto via Getty Images)South Korean authorities are investigating Samsung, after assessing that two workers at one of the tech giant's plants were exposed to radiation. The two patients, who are hospitalized, were showing "abnormal" symptoms of radiation exposure in their fingers, the Nuclear Safety and Security Commission in South Korea said in a Google-translated statement on Wednesday. The prospective radiation exposure incident took place at Samsung's Giheung plant, which is around 25 miles south of the South Korean capital of Seoul. The exact cause of the radiation exposure is not known at this time, with the Nuclear Safety and Security Commission carrying out an ongoing probe.
Persons: Joan Cros Organizations: Samsung, Mobile, Getty Images, Nuclear Safety, Security Commission, CNBC Locations: Barcelona, Spain, South Korea, Samsung's, Seoul
Honor will integrate generative AI experiences into its forthcoming hardware, which will be powered by Google Cloud, the company said. A spokesperson for the Chinese firm told CNBC that this would include Google's AI assistant Gemini, as well as Imagen 2, a text-to-image generation tool. Smartphone makers are attempting to bring AI features to their phones, in a bid to get users to upgrade to their latest flagship devices. The integration with Google's AI features builds on Honor already running the U.S. firm's operating system Android on its smartphones. Designing advanced generative AI features can be difficult for individual smartphone makers, so partnering with Google gives them a shortcut to the latest generative AI apps that employ the tech.
Persons: George Zhao, Gemini Organizations: CNBC, Mobile, Congress, Google, Samsung, Gemini
Dell is seeing accelerating momentum, especially in winning business to build AI servers, unlocking a new bull case for the stock, Morgan Stanley analyst Erik Woodring wrote in a note on Wednesday. "All-in, we are hearing about more AI server momentum at Dell than at any other OEM," Woodring wrote, saying that he expected about $10 billion of AI server revenue in the company's fiscal 2025 — ending next February. Most AI servers are built around Nvidia's chips which have become prized in the technology industry because they are used to build and deploy advanced AI models from companies like Google , OpenAI and Meta . Dell sells servers using the newest Nvidia AI chips, including its H100 GPU and the latest Blackwell-generation chips. But the PC industry is on course to grow again and is outperforming lowered expectations, Woodring wrote, which will benefit Dell.
Persons: Michael Dell, Morgan Stanley, Erik Woodring, Woodring, Wednesday's, Jensen Huang, Huang, Michael, Dell Organizations: Dell Technologies, Mobile, Dell, Hewlett Packard Enterprise, Google, Meta, Blackwell, Nvidia, Microsoft Locations: Barcelona, Spain
Spanish startups hit Microsoft with complaint over cloud practices
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: +3 min
Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years. Microsoft defended its cloud practices. "Microsoft provides choice and flexibility for our customers to switch to another cloud provider at no cost, and our licensing terms enable our customers and other cloud providers to run and offer Microsoft software on every cloud," a spokesperson said. "We will engage with the Spanish Startup Association to learn more about its concerns."
Persons: Carlos Mateo Organizations: Microsoft, Mobile, Amazon, Spanish Startup Association, Operating Systems, Windows, Reuters, Cloud Infrastructure Services, European Commission, Competition, Markets Locations: Barcelona, Spain, Spanish, U.S, Europe
(Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)U.S. cloud infrastructure provider Oracle is boosting its generative AI capabilities as cloud competition intensifies and more companies jump into AI. Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them. The generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said. JPMorgan has said generative AI and AI could drive incremental IT spending and growth across the software landscape. "Generative AI services [are] basically a huge advantage comparing with our competition.
Persons: PAU BARRENA, ChatGPT, Rondy Ng, it's, Ng, Dan Ives, Ellison, Ives, Larry Ellison, Gartner Organizations: Mobile World Congress, MWC, Getty Images, Oracle, CNBC, Wedbush Securities, JPMorgan Locations: Barcelona, AFP, U.S
Paramount Global's board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, according to people familiar with the matter. Paramount Global reports its quarterly earnings Monday. Bakish has lost the trust of Paramount Global controlling shareholder Shari Redstone, according to people familiar with her thinking. Paramount and Skydance have been making headway on a final deal, under which Bakish would leave Paramount, CNBC reported Thursday. Skydance intends to name its CEO David Ellison to helm Paramount, according to people familiar with the matter.
Persons: Bob Bakish, Bakish, Shari, Skydance, David Ellison Organizations: Viacom Inc, Mobile, Paramount, Paramount Global, Skydance Media, Charter Communications, Skydance, CNBC Locations: Los Angeles , California, U.S
The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBCBEIJING — Chinese smartphone company Xiaomi 's new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla 's Model 3 on price. For context, Tesla China sold more than 600,000 cars last year, according to the China Passenger Car Association. Li Auto had a gross margin of 23.5% in the fourth quarter last year, while Nio's gross margin was 7.5%, both up from the year-ago period. Tesla's gross margin has successively declined over the past five quarters to 17.4% in the first three months of this year.
Persons: Arjun Kharpal, undercutting Tesla, Xiaomi, Lei Jun, Li Auto, Nio, Lei Organizations: Mobile, CNBC BEIJING, Citi, China Passenger Car Association, Li, CNBC Locations: Beijing, China
Charlie Perez | Nurphoto | Getty ImagesHow it worksHyperShield serves as a "shield for security," Patel said, explaining that it takes security directly to the things that need to be secured. It allows Cisco's AI to divide a computer network into smaller parts to improve performance and security. Designed with AI in mindPatel said Cisco's HyperShield technology was designed with a new world of digital AI assistants – like ChatGPT, Google Gemini, and other advanced tools – in mind. "We're moving from a world of scarcity to a world of abundance, with digital AI assistants for everything," Patel told CNBC. Stock Chart Icon Stock chart icon Cisco share price performance year-over-year, compared with the performance of the Nasdaq Composite over the same period.
Persons: Charlie Perez, HyperShield, Patel, , it's Organizations: Cisco, Mobile, Nurphoto, Google, CNBC, Nasdaq Locations: Barcelona, Spain
BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Net profit grew by 144.5% year-on-year to 87 billion yuan. Net profit in 2022 fell by 69%, the largest drop on record. ICT remained by far Huawei's biggest revenue driver with 362 billion yuan in revenue in 2023, up 2.3% from a year ago.
Persons: Apple, — CNBC's Arjun Kharpal Organizations: Huawei, Mobile World, 5G, ICT Locations: Barcelona, BEIJING, China, Xiaomi
Why do phones need apps? At this year's Mobile World Congress, the future of the smartphone and how we connect were firmly under the microscope. Deutsche Telekom and Brain.ai demoed one such instance at MWC: a smartphone with no apps. It's just an idea for now, but it's prompting an interesting question: Why assume the smartphone of the future has apps at all? But the smartphone industry is slumping, and there's a "need to invigorate the upgrade cycle," Milanesi told BI.
Persons: , Sam Altman, There's, Altman, Jony, Meta's Mark Zuckerberg, Carolina Milanesi, Milanesi, Tom Butler, I'm, Butler, Lenovo's Butler, it's Organizations: Service, Congress, MWC, Las, CES, Deutsche Telekom, Brain.ai, Qualcomm, Bloomberg Locations: Carolina, PAU, AFP
Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a Bruegel think tank conference in Brussels, Belgium, on Jan. 20, 2020. Google announced it will restrict the types of election-related queries that users can ask its Gemini chatbot, adding it has already rolled out the changes in the U.S. and in India, where voters will head to the polls this spring. "Out of an abundance of caution on such an important topic, we have begun to roll out restrictions on the types of election-related queries for which Gemini will return responses," Google wrote in a blog post on Tuesday. "We take our responsibility for providing high-quality information for these types of queries seriously, and are continuously working to improve our protections." A Google spokesperson told CNBC that the changes are in line with the company's planned approach for elections.
Persons: Sundar Pichai, Gemini, Google's DeepMind, Josh Becker, screenshotting, Pichai, Sissie Hsiao, Bard Organizations: Google, CNBC, Gemini, Mobile, Democratic, Microsoft, Amazon Locations: Brussels, Belgium, U.S, India, Barcelona, California
The AI boom is breathing life into edge computing, which moves data processing away from the cloud. Artificial intelligence is driving us into the era of edge computing — two words you should expect to hear more in the coming months and years. Now they're expanding to edge computing, which refers to moving more of the computation closer to the user (the "edge" of the network). Amazon had eyed edge computing as a billion-dollar business, Business Insider previously reported. Jillian Kaplan, the head of global 5G at Dell, said during an MWC panel that edge computing will be a "huge energy saver."
Persons: , Jim Poole, Poole, Aly Song, MediaTek, Tom Butler, I'm, Jillian Kaplan, Kaplan Organizations: Service, Tech, 5G, Business, Mobile, Congress, MWC, China, Lenovo, Google, Dell Locations: Barcelona, Equinix, Shanghai
watch nowBARCELONA, Spain — Alef Aeronautics, a SpaceX-backed flying car firm, says it has reached 2,850 preorders for its futuristic electrical vertical takeoff and landing (eVTOL) vehicle. Dukhovny calls Alef's vehicle the "first flying car in history." "But we always had the idea that it has to be a car, a physical car, a regular car, as you can see it's an eVTOL, an electric car. Alef's car is mainly designed to be driven on the road, but will be able to take to the skies, too. To drive on the road, the car uses four small engines in each of the wheels, and will drive similar to a normal electric car.
Persons: Jim Dukhovny, Dukhovny, David Zorrakino, Tim Draper, Elon Organizations: Spain — Alef Aeronautics, SpaceX, Alef Aeronautics, Boeing, Airbus, Joby Aviation, CNBC, Mobile, Europa Press, Getty, SKTelecom Locations: BARCELONA, Spain, San Mateo , California, Alef, Germany, Korean
And yet bosses of major carriers are already talking about building something called "5.5G," or "5G Advanced." Carriers in China, South Korea, the United States, and Europe, properly got underway with launches of 5G networks in 2019. 5G Advanced, or the name for the next stage of 5G, is the next evolution of mobile networks. 5G advanced — 5G standalone, that's absolutely fine. Telcos haven't yet revealed how much more a 5G Advanced data plan will cost compared with 5G.
Persons: Angel Garcia, it's, GSMAi, Milind Kulkarni, Howard Watson, 5.5G, Watson, execs, Mats Granryd, Granryd, Karen Tso, Telcos, Philip Song Organizations: Bloomberg, Getty, Spain — Telecom, Mobile, Congress, MWC, Deutsche Telekom, Telefonica, BT, Vodafone, Facebook, YouTube, Netflix, Apple, Apple Vision, Meta Quest, Telecommunications, 3GPP, CNBC, telco, Huawei, 5G, 5.5G Locations: BARCELONA, Spain, Barcelona, Orange, China, South Korea, United States, Europe, East, Asia Pacific, America
Arjun Kharpal | CNBCThe Mobile World Congress, the world's largest mobile show, is a place where device makers show off some of their latest innovations. Arjun Kharpal | CNBCTecno showed off an augmented reality glasses product with a video game controller attached. Arjun Kharpal | CNBCXiaomi has spent years talking up its smartphones' camera capabilities. Arjun Kharpal | CNBCChinese firm Tecno showed off a robot dog. Arjun Kharpal | CNBC
Persons: Arjun Kharpal, It's, There's, Oppo Oppo, Kharpal, CNBC Tecno, CNBC Xiaomi, German Shepherd, Tecno Organizations: Mobile, CNBC, Congress, Motorola, China's Lenovo, CNBC Lenovo, Samsung Galaxy, Samsung, CNBC Samsung Locations: Barcelona, Spain, Korean, German
Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.
Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe
BARCELONA — A top executive at Salesforce says she is "optimistic" that U.S. Congress will make new laws to regulate artificial intelligence soon. She noted that the need to consider guardrails has become a "bipartisan" issue for U.S. lawmakers and highlighted efforts among individual states to devise their own AI laws. "It's very important to ensure U.S. lawmakers can agree on AI laws and work to pass them soon," Goldman told CNBC. And I think it's very important that we have a set of guardrails around the technology," Goldman added. Goldman sits on the U.S. National AI Advisory Committee, which advises the Biden administration on topics related to AI.
Persons: Paula Goldman, guardrails, Goldman, We've, we're, that's, Biden Organizations: U.S . Congress, BARCELONA, CNBC, Mobile, Congress, Senate, U.S, National AI Advisory Locations: Barcelona, Spain, United States, EU
The smart ring era is here. Honor, the mobile business spun out of Huawei, also announced this week that it's working on a smart ring. Avi Greengart, president and lead analyst at Techsponential, told Business Insider at MWC that Samsung's Galaxy Ring "validates the smart ring category." Rumors of an Apple smart ring have been simmering for over a decade — mostly due to a string of patents the company has filed for. There's another good reason tech companies are eyeing smart rings right now, according to IDC analyst Francisco Jeronimo: subscriptions.
Persons: , Prince Harry, Mark Zuckerberg, Jack Dorsey, Jennifer Anniston, Jimmy Kimmel, Smart, they've, Oura, Avi Greengart, Apple, Bloomberg's Mark Gurman, Jeremy Liew, Liew Apple, Greengart, Francisco Jeronimo, Jeronimo Organizations: Samsung, Service, Mobile, Congress, MWC, Huawei, IDC, Apple, Venture, Business Locations: Barcelona, Cupertino
Watch CNBC's full interview with Orange CEO Christel Heydemann
  + stars: | 2024-02-29 | 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 EmailWatch CNBC's full interview with Orange CEO Christel HeydemannOrange CEO Christel Heydemann speaks to CNBC's Karen Tso at Mobile World Congress in Barcelona.
Persons: Christel, Christel Heydemann, Karen Tso Organizations: Orange, Mobile Locations: Barcelona
Motorola's "adaptive display concept" was on display at Mobile World Congress in Barcelona. See-through screens, phones that wrap around your wrist and expandable displays — these are all concept tech that gadget makers showed off this week, in a bid to stand out from competitors in a cut-throat hardware market. At the world's largest mobile trade show, the Mobile World Congress in Barcelona, some of the biggest companies in the world showed off some unusual screen technology. "As a result we are seeing a proliferation of weird and wonderful new designs such as wrist worn phones, rollable screens, virtual 3D displays and more." Here's some of the screen tech on display at MWC:
Persons: Ben Wood Organizations: Mobile, MWC, Apple, Samsung, CCS Insight, CNBC Locations: Barcelona
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI phones and smart rings: The hottest tech at the world's biggest mobile showCNBC's Arjun Kharpal and Karen Tso discuss the new products and themes at this year's Mobile World Congress in Barcelona.
Persons: Arjun Kharpal, Karen Tso Locations: Barcelona
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