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New York CNN —Even after years of inflation, geopolitical chaos and recession in Europe, the US economy remains robust and resilient. Unemployment rose to 3.9% last month, lower-income consumers are spending less and businesses are limiting employee hours and pay. A recent survey by Santander Bank of its customers found that while inflation fears have largely subsided, middle-income Americans are pessimistic about the economy. Those Americans could still be suffering, but their stories are obscured by data that paints a broad picture of a resilient economy. Piepszak, meanwhile, now leads the company’s newly combined commercial and investment bank with her co-CEO Troy Rohrbaugh.
Persons: , Gregory Daco, haven’t, Skyler Weinand, Regan, , ” Nanette Abuhoff Jacobson, Bryan Mena, What’s, Jamie Dimon, Here’s, Dimon, he’s, , ” Dimon, can’t, “ Dimon, Marianne Lake, Jennifer Piepszak, Piepszak, Troy Rohrbaugh, Rohrbaugh, Mary Erdoes, Jeremy Barnum, Daniel Pinto, COOs Gordon Smith, Smith, Satya Nadella, Bing Organizations: CNN Business, Bell, New York CNN, Regan Capital, Santander Bank, Hartford Funds, Bureau of Labor Statistics, Federal Reserve, JPMorgan, JPMorgan Chase, Bank of America, Microsoft Locations: New York, Europe, Redmond, Washington
Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.
Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify
CNN —Microsoft jumped headfirst into building artificial intelligence directly into its Windows operating system on Monday, announcing new AI computers that could help ramp up flagging PC sales. The computers, which are packed with processors that power advanced AI tools, come as PC sales have stalled for years. Microsoft isn’t alone in its AI PC ambition. Dell and Lenovo also recently debuted AI-first PC computers under the Copilot+ AI umbrella, an emerging category that experts widely believe will become the next stage of computing. Last month, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago.
Persons: Satya Nadella, , , Bing, Dell, ” Geoff Blaber, Blaber, Jitesh, tailwinds Organizations: CNN, Microsoft, Lenovo, Apple, Developers, CCS Insight, IDC Locations: Seattle, Wisconsin
With that in mind, we searched for the best Memorial Day TV deals to help simplify your shopping. Some of the best deals include $300 off the Hisense U6HF, one of our picks for the best 50-inch TVs, and $2,400 off the 83-inch Samsung S90C. You can also find more of this season's sales in our roundups of the best Memorial Day sales and the best Memorial Day furniture sales. 50- and 55-inch TV Memorial Day dealsHisense 50-inch U6HF QLED 4K Fire TV $299.99 $499.99 Save 40% This 50-inch display has Amazon's Fire TV platform built-in for easy access to tons of streaming apps. Shop at AmazonCheck out more of our highlights of the best Memorial Day sales on TVs, furniture, kitchen appliances, and more.
Persons: It's Organizations: Business, Samsung, Amazon, LG, Amazon Sony
Microsoft's Build keynote kicked off at 12 p.m. CEO Satya Nadella is expected to give updates on Microsoft's generative AI products, like Copilot. Microsoft leaned further into its AI agent Copilot with new Copilot+ PCs announced on Monday. The annual Microsoft Build developer conference keynote kicked off at 12 p.m. ET on Tuesday, and CEO Satya Nadella is expected to unveil Microsoft's latest generative AI offerings, including Copilot.
Persons: Satya Nadella, Organizations: Microsoft, Service, Google, Business
Microsoft announces new PCs with AI chips from Qualcomm
  + stars: | 2024-05-20 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Copilot+ PCs with AMD and Intel chips will follow, Microsoft said during a press keynote address on its campus in Redmond, Washington. AI models will be able to generate images based on written descriptions as well as drawings. Microsoft is banking on Qualcomm's energy-efficient Arm -based chips that can handle AI models to defend its Windows franchise. The new PCs can run some AI models locally without an internet connection. Microsoft has had little success in getting people to adopt Arm-based Windows computers, which haven't always performed as well as PCs running Intel or AMD chips.
Persons: Satya Nadella, Snapdragon, haven't, Morgan Stanley Organizations: Microsoft Corp, Microsoft, Windows, Qualcomm, Lenovo, Dell, HP, Asus, Acer, Samsung, AMD, Intel, Apple Locations: Jakarta, Indonesia, Redmond , Washington
Read previewIt's about to be a big week for Microsoft. Copilot and other AI features in WindowsWedbush analysts expect Microsoft to roll out more Copilot and AI features into its consumer and enterprise product stack. Related storiesIves said putting AI features into Windows will give developers the foundation to build AI use cases through Windows and, ultimately, Azure. Ives said the new AI Surface updates will start a new PC-driven cycle that's "AI-led, from Dell to Microsoft, and ultimately to Apple as well." But according to Ives, Microsoft will be a "showstopper."
Persons: , Dan Ives, Wedbush's, Wedbush, Ives, Google Organizations: Service, Microsoft, Google, Business, Windows, Oracle, Apple, Dell, Ives
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI PC race speeds up ahead of significant chip launchesCNBC's Kristina Partsinevelos reports on news in the artificial intelligence space.
Persons: Kristina Partsinevelos
The race to put artificial intelligence everywhere is taking a detour through the good old laptop computer. Microsoft on Monday introduced a new kind of computer designed for artificial intelligence. The machines, Microsoft says, will run A.I. systems on chips and other gear inside the computers so they are faster, more personal and more private. The new computers, called Copilot+ PC, will allow people to use A.I.
Organizations: Microsoft, Acer, Asus, Dell, HP, Lenovo, Samsung
Microsoft unveiled its new AI-powered Copilot+ PCs at a press event. Copilot+ PCs offer up to 20 times more AI power and 22 hours of battery life, according to Microsoft. Pre-orders start today at $999, with availability from June 18 from brands like Microsoft Surface, Dell, and HP. Microsoft just unveiled a new line of Windows PCs designed for AI at a press event Monday. The new line, called Copilot+ PCs, is the fastest and most intelligent Windows model of a PC built yet, according to Microsoft.
Persons: Organizations: Microsoft, Dell, HP, Service
AI PCs: We've been talking for months about how the launch of new AI PCs from the likes of HP and Dell and a specialized generative AI keyboard button from Microsoft will start a new PC refresh cycle later this year. We're now seeing a ton of news about AI PCs from Microsoft and Dell. In an interview, Michael Dell told Bloomberg News that AI PCs will be delivered "in volume" this year and will be "pretty standard" by 2025. 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, We're, Michael Dell, Jim, Jim Cramer's, Andrew Kelly Organizations: CNBC, Dow Jones, Nvidia, Broadcom, HP, Dell, Microsoft, Bloomberg News, Palo Alto Networks, Keysight Technologies, Home, Jim Cramer's Charitable Locations: Manhattan , New York City
No one is laughing about Jayshree's company, either, as her white box solutions are beating Cisco Systems when it comes to the internet plumbing that connect Nvidia chips to the Titans. Last year at this time, Nvidia snuck into the U.S. trillion-dollar market cap club, with that May quarter. What does Nvidia really have to do then for an encore? Now we are getting into what Jensen does to beat expectations. Tall order, but Nvidia is a company that's beaten tall orders routinely we just didn't really know it until last May.
Persons: Jensen Huang, Jensen, Claude, let's, Blackwell, Andy Grove, Intel's, doesn't, — Jensen, Collette Kress, Mills, Eli Lilly, Jim Cramer's, Jim Cramer, Jim, Josh Edelson Organizations: Nvidia, Titans, Arista Networks, Microsoft, Meta, Cisco Systems, Google, Apple, Devices, Intel, Merck, Keytruda, Vision, AMD, Grove, Union Pacific, Club, GE, Jim Cramer's Charitable, CNBC, SAP Center, Afp, Getty Locations: San Jose , California
The world's second-richest person owns three private jets, according to public records seen by Business Insider and data from JetSpy. AdvertisementThe cabin of a Gulfstream G650ER. The light business jet with 10 seats was manufactured in 2020 and usually costs about $9 million. How Bezos' jets are kept privateProving Bezos' ownership of the jets isn't simple. A Gulfstream G650ER.
Persons: , Jeff Bezos, — Elon Musk, Bill Gates, Taylor Rains, Bezos, Robert Smith, Poplar, Paul Dauber, Taylor Swift, FlightAware, It's, Jack Sweeney Organizations: Service, Business, Gulfstream, Miami, Seattle, Federal Aviation Administration, TVPX Aircraft Solutions, Getty, FAA, Bezos, Dassault Falcon, Poplar Glen, Boeing Field, BI, Puget Sound Business, Costco, Royce, Forbes Locations: JetSpy, Miami, Cape Town, Dubai, Beijing, Australia, Asia, Bezos, Poplar Glen, Washington, Poplar Glen's, Seattle
Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. Microsoft 's Build developer conference kicks off on Tuesday, giving the company the opportunity to showcase its latest artificial intelligence projects, following high-profile events this month hosted by OpenAI and Google . Microsoft CEO Satya Nadella said in January that 2024 will mark the year when AI will become the "first-class part of every PC." Now, PC users will get to hear more about how AI will be embedded in Windows and what they can do with it on new AI PCs. Demand for PCs was "slightly better than expected," Microsoft CFO Amy Hood said on the company's quarterly earnings call last month.
Persons: Satya Narayana Nadella, Satya Nadella, OpenAI, Morgan Stanley, Erik Woodring, Amy Hood Organizations: Microsoft, OpenAI, Google, Windows, Bing, Dell, Technology, Gartner Locations: Manhattan, New York City
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The S & P 500 and Nasdaq Composite rose to all-time highs after the release. The market hasn't been this overbought since late December, according to the S & P 500 Short Range Oscillator, our trusted momentum indicator. 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 .
Persons: Jim Cramer, Morgan Stanley, Jim, It's, Jim Cramer's Organizations: CNBC, Nasdaq, Palo Alto Networks, Wall, UnitedHealth Group, Healthcare, wouldn't, Palo, Wednesday . Bank of America Locations: Palo, Palo Alto
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
The bank therefore expects Arm-based AI PCs to "start a transformation that will affect the global semis industry." Morgan Stanley added it believes that Apple may expand its Arm-based CPU to AI servers as well. The bank estimates that AI PCs will reach a penetration rate of 95% by 2027 — up from 8% in 2024. Stocks What stocks will benefit from Arm's foray into AI PCs? As for TSMC, Morgan Stanley says its foundry market share with the "x86" CPU market will grow.
Persons: Morgan Stanley, That's, TSMC, MediaTek, bode, — CNBC's Michael Bloom Organizations: Microsoft, Intel, AMD, Qualcomm, Apple, Nvidia Locations: British, Taiwan
Shop at Amazon Shop at Walmart Shop at Best Buy What we like Check mark icon A check mark. Shop at Amazon Shop at Best Buy Shop at Samsung What we like Check mark icon A check mark. Unfortunately, the S95D's matte screen has one notable side effect: it hurts black-level performance in a bright room. In contrast, the elevated black levels caused by the S95D's matte screen are more pronounced and easier to notice. AdvertisementSamsung S95D vs. S95C: Price and availabilityThe S95C currently costs a lot less than the S95D.
Persons: I've, Slim, Steven Cohen, it's Organizations: Business, Samsung, Shop, Walmart Shop, Dolby, Sony, Amazon, Samsung TV
Roblox cut its annual bookings forecast on Thursday, in a sign that people were dialing back on spending within its video-gaming platform amid an uncertain economic outlook and elevated levels of inflation. Electronic Arts also gave a weak revenue forecast earlier this week. Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates. Roblox will build the infrastructure for the ad platform in 2024 and start providing forecast for ad revenue in 2025, Guthrie added.
Persons: Roblox, Michael Guthrie, Guthrie Organizations: Electronic Arts, Walmart, Warner Bros Discovery
Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.
Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN
A fourth person said some of the companies were notified on Tuesday that their licenses were revoked effective immediately. The U.S. Commerce Department earlier in the day confirmed it had revoked some licenses but stopped short of naming the companies. “We have revoked certain licenses for exports to Huawei,” the Commerce Department said in a statement, declining to specify which ones it had withdrawn. The move could hurt Huawei, which still relies on Intel chips to power its laptops, and could hurt US suppliers that do business with the company. In a regulatory filing earlier this month, Qualcomm said it did not expect to receive more chip revenue from Huawei beyond this year.
Persons: Biden, Elise Stefanik, Trump, Critics, SMIC Organizations: Singapore Reuters, Intel, Qualcomm, Huawei Technologies, U.S . Commerce Department, Huawei, Republican, Commerce Department, , Reuters, US Locations: Washington, Singapore, United States, Republican China, American, Communist, Qualcomm’s
Charged Lemonade from a Panera Bread Co. arranged in the Queens borough of New York, US, on Tuesday, Dec. 12, 2023. A Panera Bread spokesperson says the restaurant chain is phasing out its Charged Lemonade, a highly caffeinated beverage that has been blamed for at least two deaths in lawsuits. A spokesperson for Panera said Tuesday that the nationwide discontinuation of the Charged Lemonade comes after a "recent menu transformation." Panera previously advertised its Charged Lemonade as "Plant-based and Clean with as much caffeine as our Dark Roast coffee." Panera has since updated its nutrition information to reflect how much caffeine is in the Charged Lemonade with ice, listing the large size of the blood orange Charged Lemonade, for example, as having 302 milligrams.
Persons: Sarah Katz, Dennis Brown, Lauren Skerritt, Panera, Katz, Victoria Rose Conroy, Sarah, Brown, Elizabeth Crawford, Kline, Specter, Dennis, Lauren Organizations: University of Pennsylvania, Food and Drug Administration, NBC News, NBC Locations: Queens, New York, Florida, Rhode, Missouri, Pennsylvania, New York City, Philadelphia
Trump Media's stock price dropped on Friday after its auditor was accused of "massive fraud." The auditor BF Borgers did not comply with common accounting standards, the SEC said. BF Borgers CPA PC, which audited the financials of Trump Media, had "deliberate and systemic failures to comply" with public company accounting standards, the regulatory agency said. BF Borgers settled the SEC charges by paying a $12 million penalty, while Borgers, the owner, paid a separate $2 million penalty. "Trump Media looks forward to working with auditing partners in accordance with today's SEC order," a spokesperson for TMTG said.
Persons: BF, , Benjamin Borgers, BF Borgers, Borgers, Ben Borgers, Gurbir Grewal, TMTG Organizations: Trump, SEC, Service, Trump Media, Securities and Exchange Commission Locations: SEC's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailColumbia University has 'absolutely' breached their contract, says Jay EdelsonJay Edelson, Edelson PC founder and CEO, joins 'Squawk Box' to discuss the recent anti-war protests at Columbia University, the class-action lawsuit against the school for allegedly failing to provide a safe learning environment, rise of antisemitism on college campuses, and more.
Persons: Jay Edelson Jay Edelson Organizations: Email Columbia University, Columbia University
Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.
Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong
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