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☆ Microsoft is outsourcing its best AI, tech CEO says — and that's good news for Google
▼ + stars: | 2024-06-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Lionel Bonaventure | Afp | Getty ImagesLONDON — Microsoft is handing over the development of all of its best artificial intelligence tools and software to OpenAI, according to one tech CEO — which could be a boon for arch-rival Google. He noted that the so-called transformers that power today's generative AI technologies "all came from Google." Microsoft as an AI 'consultancy'McKinnon added that there's a risk Microsoft's position in AI becomes reduced to that of a "consultancy." Still, Google has a mountain to climb if it's going to achieve commercial success with its own AI investments. Microsoft has effectively become the leader in the push toward foundation AI models given its investment in and partnership with OpenAI.

Persons: Lionel Bonaventure, Todd McKinnon, McKinnon, OpenAI, Bard Organizations: Bard, Google, Getty, Microsoft, CNBC, OpenAI

☆ Cybersecurity now a top priority for company boards, Okta CEO says
▼ + stars: | 2024-06-10 | 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 EmailCybersecurity now a top priority for company boards, Okta CEO saysThe CEO of Okta, Todd McKinnon, joins CNBC's Steve Sedgwick and Arabile Gumede to discuss data security.

Persons: Todd McKinnon, Steve Sedgwick, Arabile Gumede

☆ Databricks acquires data optimization startup Tabular in fresh challenge to Snowflake
▼ + stars: | 2024-06-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Data analytics software maker Databricks said in a statement on Tuesday that it's acquiring Tabular, a startup that helps optimize data stored in the cloud. The gesture could help Databricks more quickly bring out products as it faces competition from Snowflake and other entities. Databricks is paying over $1 billion to buy Tabular, Databricks CEO Ali Ghodsi said in an interview. Snowflake was also bidding on Tabular, as was Confluent , a person familiar with the matter told CNBC. Focusing more on Iceberg tables might allow Databricks to take business from Snowflake clients that embrace the format.

Persons: Ali Ghodsi, Databricks, Snowflake, Ryan Blue, Dan Weeks, Okta, Mike Scarpelli, Morgan Stanley, Ghodsi, Andreessen Horowitz, Frank Slootman's, Jefferies, Brent Thill Organizations: Databricks, Summit, Street Journal, CNBC, Developers, Netflix, Salesforce, Amazon, Services, Monday, Zetta Venture Partners Locations: San Francisco, Snowflake, Delta

☆ Software stocks got pummeled this week after a cluster of troubling earnings reports
▼ + stars: | 2024-06-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

And Veeva's CEO said on his company's earnings call that generative artificial intelligence has been "a competing priority" for customers. Add it all up and it was a brutal week for software and enterprise tech. "Every enterprise software company kind of has adjusted" since after the pandemic, Benioff said on his company's earnings call. "Macroeconomic headwinds are still out there," Okta finance chief Brett Tighe said on the company's earnings call. Veeva CEO Peter Gassner cited "disruption in large enterprises as they work through their plans for AI."

Persons: Marc Benioff, Dell, Salesforce, Benioff, Brett Tighe, Daniel Dines, Dines, Rob Enslin, Tomer Weingarten, Peter Gassner, Gassner, Zscaler, Jay Chaudhry, — CNBC's Ari Levy, FBB, Mike Bailey Organizations: Salesforce, Economic, Computing Fund, Dell, Barclays, CNBC Locations: Davos, Switzerland, Paycom, U.S, UiPath, reprioritize

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Salesforce, Amazon, Okta, Eli Lilly, Cava, PayPal & more
▼ + stars: | 2024-05-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Goldman Sachs initiates Abbott Labs as buy Goldman said Abbott is well positioned for growth. UBS reiterates Apple as neutral UBS said its checks show iPhone pressure remains in China and the U.S. for Apple. Goldman Sachs reiterates Eli Lilly as neutral Goldman raised its price target on Eli Lilly to $785 per share from $740. Goldman Sachs reiterates Salesforce as buy Goldman said it's sticking with the stock following earnings on Wednesday. Goldman Sachs initiates AstraZeneca, Novartis and Novo Nordisk as buy Goldman initiated several biotech company's on Thursday and says it sees "innovation momentum a key focus."

Persons: Baird, OKTA, Goldman Sachs, Abbott, Goldman, Piper Sandler downgrades Cava, Piper, Eli Lilly, Wells Fargo, Wells, Mizuho, Wedbush, Daiwa, Stifel, it's, Salesforce, CRM's, Redburn, Guggenheim, Generac Organizations: UBS, Apple, Mizuho, PayPal, Bank of America, Gross, Amicus, USM, First, Deutsche Bank, Deutsche, JPMorgan, Nvidia, Technology, Northland, AstraZeneca, Novartis, Novo Nordisk, of America, TAM, Guggenheim Locations: China, Corning, Northland, 4Q24

☆ Definitely see macro headwinds in software but they depend on time horizon, says Okta CEO
▼ + stars: | 2024-05-30 | 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 EmailDefinitely see macro headwinds in software but they depend on time horizon, says Okta CEOTodd McKinnon, Okta co-founder and CEO, joins 'Squawk on the Street' to discuss McKinnon's macroeconomic concerns around software, if the headwinds are causing strategic shifts, and much more.

Persons: Todd McKinnon, Okta

Daiwa raised its price target to $1,325 on Nvidia, calling for more than 15% upside. Mizuho, meanwhile, upgraded PayPal to buy from neutral with a price target that implies more than 45% upside. — Brian Evans 5:46 a.m.: Daiwa increases Nvidia price target, says company is AI's 'big winner' Shares of soaring chipmaker Nvidia have more room to run, according to Daiwa Capital Markets. Analyst Louis Miscioscia raised his price target on the chipmaker to $1,325 from $900, which implies more than 15% upside from Wednesday's close. Nvidia stock has gained roughly 132% in 2024, adding to last year's 238% surge, as investors cheer the company's AI prospects.

Persons: Daiwa, Mizuho, Okta's, OKTA, Peter Levine, Brian Evans, Maheep Mandloi, — Brian Evans, Baird, Michael Ha, Ha, Louis Miscioscia, Miscioscia, Dan Dolev, Dolev, Fred Imbert Organizations: CNBC, Nvidia, PayPal, Mizuho Securities, Solar Mizuho Securities, UnitedHealth, Daiwa, Markets, Mizuho, comm Locations: Wednesday's, OptumCare

☆ Stocks making the biggest moves premarket: Salesforce, Kohl's, Foot Locker and American Eagle Outfitters
▼ + stars: | 2024-05-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Foot Locker — Shares rallied more than 12% in the premarket after the apparel and sneaker retailer reported first-quarter earnings that beat expectations . The company posted an adjusted profit of 22 cents per share, while analysts polled by LSEG expected earnings of 12 cents per share. The company's $3.18 billion revenue also came below the expected $3.34 billion. American Eagle Outfitters — Shares slipped 7% after the company posted weaker-than-expected sales in its fiscal first-quarter, despite beating on earnings. Analysts surveyed by StreetAccount were expecting a loss of 30 cents per share on $84.4 million of revenue.

Persons: Salesforce, Dan Dolev, Birkenstock, LSEG, Mary Dillon, Mike Mathias, StreetAccount, UiPath, Rob Enslin, — CNBC's Michelle Fox, Fred Imbert, Yun Li, Sarah Min, Jesse Pound, Pia Singh Organizations: PayPal, Mizuho, ISI, CNBC, LSEG, Revenue, American Eagle Outfitters, Finance, HP Locations: €

☆ Stocks making the biggest moves after hours: Salesforce, UiPath, Capri, Pure Storage and more
▼ + stars: | 2024-05-29 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Okta's second-quarter revenue guidance range of $631 million to $633 million also beat the consensus estimate for $616 million, according to LSEG data. Capri reported adjusted earnings of 42 cents a share, while analysts had estimated 65 cents, according to LSEG. American Eagle Outfitters reported $1.14 billion in revenue, lower than the average analyst estimate of $1.15 billion, according to LSEG data. Earnings beat estimates, but full-year revenue guidance was in a range of 2% to 4%, compared to forecasts for 3.4%. Revenue guidance was also pulled back to between $6.42 billion and $6.50 billion, compared to prior guidance in a range of $6.71 billion to $6.81 billion.

Persons: Rob Enslin, Daniel Dines, LSEG, Okta's, Versace, Jimmy Choo, Agilent, —, Darla Mercado Organizations: HP Inc, HP, Capri, Management, American Eagle Outfitters, Technologies Locations: New York City, LSEG, Asia, FactSet

☆ How one rising Miami VC raised more money for his first fund. Other emerging investors haven't been so lucky.
▼ + stars: | 2024-05-16 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +7 min

Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."

Persons: —, Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, —, Bessemer

☆ Lightning Round: Okta is teriffic, says Jim Cramer
▼ + stars: | 2024-05-01 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Okta is teriffic, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Matterport, Nextracker, Dell, Okta, and Ford.

Persons: Jim Cramer Organizations: Dell, Ford

☆ Cramer's Lighting Round: Dell is a buy
▼ + stars: | 2024-05-01 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

Stock Chart Icon Stock chart icon Matterport's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextracker's year-to-date stock performance. Stock Chart Icon Stock chart icon Dell's year-to-date stock performance. Stock Chart Icon Stock chart icon Okta's year-to-date stock performance. Stock Chart Icon Stock chart icon Ford's year-to-date stock performance.

Persons: You've Organizations: Dell Locations: Ford

☆ 'Hard to Ignore': Jefferies says this cybersecurity stock could double after 75% rise in the past year
▼ + stars: | 2024-04-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

After two consecutive dreadful years of returns, investment bank Jefferies is forecasting a rebound in the share price of Darktrace , a British cybersecurity company. DARK-GB 1Y line The cybersecurity company reported third-quarter results on April 11 that exceeded expectations. Following the better-than-expected results, Jefferies raised its price target for Darktrace to 890 pence from 550 pence, reiterating its "buy" rating. The consensus price target of analysts polled by FactSet points to a 24.4% upside potential for the stock. Brennan's price target is the biggest among all analysts covering the stock.

Persons: Darktrace, Charles Brennan, —, Jefferies, FactSet Organizations: Jefferies, Revenue Locations: British, London, U.S

☆ State-backed cyberattacks, AI deepfakes, and more: Experts reveal UK election cyber threats
▼ + stars: | 2024-04-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

State actors have since made routine attacks in various countries to manipulate the outcome of elections, according to cyber experts. "Right now, generative AI can be used for harm or for good and so we see both applications every day increasingly adopted," Meyers told CNBC. "This democratic process is extremely fragile," Meyers told CNBC. "You can train those voice AI models very easily ... through exposure to social [media]," Holmes told CNBC in an interview. It's just one example of many deepfakes that have cybersecurity experts worried about what's to come as the U.K. approaches elections later this year.

Persons: Andrew Brookes, Rishi Sunak, Todd McKinnon, Okta's McKinnon, We're, Adam Meyers, CrowdStrike, Meyers, Dan Holmes, Holmes, Keir Starmer, what's Organizations: Getty, Britain, CNBC, British, U.S, APT, New Zealand, Labour Party, Local, Facebook, Meta, Google Locations: Russian, Moscow, London, Wuhan, U.S, Australia, New, China, cybersecurity, Russia, Iran

☆ I'm a digital nomad in Big Tech who got promoted to senior management in 2 years. Traveling constantly hasn't held me back.
▼ + stars: | 2024-04-04 | by ( Cornelia Holzbauer | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a transcribed conversation with Andre Maxwell, a digital nomad who works at cloud security company Okta. I had already been a digital nomad for almost a year, working as a cybersecurity engineer at a smaller tech company. I start working at 5 p.m. local time from Dubai or 10 p.m. from Japan. Discovering new restaurants and cafés in a coastal city, near the water with the sun shining on me — it makes the sacrifices of the digital nomad life all worth it. If your role mainly depends on you and your ability to perform, then I think it's much easier to go the digital nomad route.

Persons: —, Andre Maxwell, I've Organizations: Service, Okta, Business, Time Locations: Tulum, Mexico, Okta, Dallas, That's, Thailand, Japan, Finland, Austria, Dubai, California, Barcelona

☆ We want to be the leading identity management company, says Okta CEO Todd McKinnon
▼ + stars: | 2024-03-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

We want to be the leading identity management company, says Okta CEO Todd McKinnonOkta Co-Founder, Chairman, and CEO Todd McKinnon joins 'Mad Money' host Jim Cramer to discuss its various use cases including its partnership with ChatGPT and the state of cybersecurity.

Persons: Todd McKinnon Okta, Todd McKinnon, Jim Cramer Organizations: ChatGPT Locations: cybersecurity

☆ Okta CEO Todd McKinnon breaks down earnings beat as stock surges 20%
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOkta CEO Todd McKinnon breaks down earnings beat as stock surges 20%Okta CEO Todd McKinnon joins CNBC's "Money Movers" in an exclusive interview to discuss earnings and demand in the software industry.

Persons: Todd McKinnon

☆ Jim Cramer's Thursday rapid fire: Snowflake, Best Buy, Paramount, Okta and Celsius
▼ + stars: | 2024-02-29 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Snowflake : Shares were sinking nearly 20% on weak guidance and CEO Frank Slootman announcing his retirement. Jim Cramer said Thursday he's a big fan of Slootman and the CEO's planned departure is a blow to the company. Cramer said, "Celsius has a lot of bears" betting against the stock, which can lead to volatility. PepsiCo has a large stake in Celsius, Cramer noted, adding the soft drink and snack giant is very pleased with it.

Persons: Jim Cramer's, Frank Slootman, Jim Cramer, Cramer, Todd McKinnon, McKinnon Organizations: CNBC, Club, Paramount, Costco, PepsiCo, Charitable Trust, Amazon

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ Stocks making the biggest moves midday: Chemours, Snowflake, Hormel, C3.ai and more
▼ + stars: | 2024-02-29 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

It posted earnings of 41 cents per share, excluding items, on revenue of $3 billion. Analysts polled by FactSet had called for earnings of 34 cents per share on $2.91 billion in revenue. C3.ai — The artificial intelligence software stock advanced more than 24% after C3.ai posted a narrower-than-expected adjusted loss per share of 13 cents. Pure Storage — Shares jumped more than 22% after the data storage company posted stronger-than-expected fourth-quarter earnings and upbeat first-quarter guidance. However, fourth-quarter revenue of $1.1 billion did top LSEG estimates of $1.05 billion.

Persons: FactSet, Morgan Stanley, Chemours, —, Birkenstock, Snowflake, Frank Slootman, LSEG, Duolingo, Alex Harring, Yun Li, Michelle Fox Theobald Organizations: Beverage, RBC, Bank of America Securities, Bank of America, Paramount, AMC Entertainment

☆ Thursday's rapid fire: Snowflake, Best Buy, Paramount, Okta, Celsius
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday's rapid fire: Snowflake, Best Buy, Paramount, Okta, CelsiusJim Cramer offers his quick thoughts on these five stock outside the CNBC Investing Club portfolio.

Persons: Jim Cramer Organizations: Paramount, CNBC, Club

☆ Stocks making the biggest moves premarket: Snowflake, Salesforce, C3.ai, Okta and more
▼ + stars: | 2024-02-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Snowflake said it expects product revenue to range between $745 million and $750 million in the current period, below the $759 million analysts polled by StreetAccount expected. Okta said its expects revenues to range between $603 million and $605 million, surpassing a FactSet estimate of $583.8 million. Celsius posted 17 cents in earnings per share on $347.4 million in revenue for the fourth quarter. Nutanix posted earnings of 46 cents per share on revenues totaling $565 million. The data storage company posted earnings of 50 cents per share on $790 million in revenue.

Persons: Frank Slootman, Snowflake, StreetAccount, Morgan Stanley, Salesforce — Salesforce, Okta, Duolingo, LSEG, Nutanix, —, Alex Harring, Tanaya Macheel, Michelle Fox, Lisa Han, Jesse Pound, Sarah Min, Pia Singh Organizations: Revenue, Bank of America, AMC, AMC Entertainment, Wall, Paramount, LSEG, CNBC Warner Bros, FactSet, HP — Locations: Canada, FactSet .

☆ Jim Cramer's quick thoughts on cybersecurity stocks, Disney, and our portfolio off-price retail name
▼ + stars: | 2024-02-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

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. 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. 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.

Persons: Jim Cramer, Ernie Herman, Macy's, TJX, Nordstrom, Cramer, UnitedHealth, Linde, Jim Cramer's, Jim Organizations: CNBC, Consumer, Communication Services, Health Care, Tech, TJX Companies, Target, Palo Alto Networks, Disney, ESPN, Apple, Paramount, Anheuser, Busch, Jim Cramer's Charitable Locations: Maxx, Palo Alto, India

☆ Stock futures fall as Wall Street awaits the Fed's preferred inflation gauge: Live updates
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures fell as Wall Street weighed the latest earnings results and looked ahead to the Federal Reserve's favored inflation gauge. Futures tied to the Dow Jones Industrial Average slipped 80 points, or 0.2%. The S&P 500 futures and Nasdaq 100 futures edged down 0.2% and 0.25%, respectively. The 30-stock Dow lost 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The S&P 500 has jumped 4.6%, while the Dow has added 2.1%.

Persons: Salesforce, Okta, Joe Mazzola, Charles Schwab's, Dow, John Williams Organizations: New York Stock Exchange, Stock, Federal, Dow Jones, Nasdaq, Dow, Hewlett Packard Enterprises, Bath, Body, New York Federal Reserve Bank Locations: Snowflake, Chicago

☆ Stocks making the biggest moves after hours: Salesforce, Snowflake, Okta, Duolingo and more
▼ + stars: | 2024-02-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

In the fourth quarter, the software company topped Wall Street's fourth-quarter expectations on the top and bottom lines. Snowflake — Snowflake shares plunged 20% after the business software company announced the retirement of its CEO Frank Slootman. The company topped earnings expectations by 12 cents and said it expects revenue for the current period to range between $603 million and $605 million. The company posted revenue of $13.19 billion, falling short of the $13.56 billion analysts polled by LSEG expected. Adjusted earnings per share came in at 5 cents and topped an LSEG estimate of 2 cents per share.

Persons: — Salesforce, Frank Slootman, Duolingo, Okta — Okta, LSEG Organizations: FactSet, Paramount Global, LSEG, Revenue, StreetAccount, HP Inc, AMC Entertainment

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