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☆ Will the AI spending boom pay off? One tech fund manager says it looks 'compelling' for some firms
▼ + stars: | 2024-06-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Many companies are in the AI infrastructure buildout phase right now. That's because, in order to enable AI applications, companies have to make the switch from "general purpose computing to accelerated computing," she said. "You can't run AI on traditional compute, it would be prohibitively expensive, and far too energy intensive," said Pleydell-Bouverie. That's a 35% increase from last year, she said, and all this incremental investment is being directed to AI initiatives. And the world is "only in the first five minutes of this AI infrastructure buildout," she added.

Persons: Clare Pleydell, Bouverie, Meta Organizations: Nvidia, Microsoft, Meta, Liontrust Asset Management, CNBC Pro, Google, Apple, JPMorgan, Liontrust Global Technology Fund, Technology

☆ Diamond industry 'in trouble' as lab-grown gemstones tank prices further
▼ + stars: | 2024-06-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Diamond prices have fallen 5.7% so far this year, according to Zimnisky's rough diamond index, declining more than 30% from their all-time high in 2022. Lab-grown diamonds, which can be up to 85% cheaper than natural diamonds, are made in a controlled environment using extreme pressure and heat. Lab-grown diamond sales have surged from just 2% of the global diamond jewelry market in 2017 to 18.4% in 2023, according to data provided by Zimnisky. An industry 'in trouble'"The diamond industry is in trouble," Daga told CNBC, adding that he believes natural diamond prices could fall another 15%-20% over the next 12 months. Similar to a natural diamond, a lab-grown diamond is graded based on the 4Cs — clarity, color, cut and carat weight.

Persons: Leon Neal, Duncan Wanblad, De, Paul Zimnisky, De Beers, Marcelo Esquivel, Ankur Daga, Daga, Anish Aggarwal, Lionel Bonaventure Organizations: Afp, Getty, De, BHP, Financial Times, De Beers, CNBC, Daxue Consulting, Bloomberg, Zimnisky Locations: Harrods, London, De Beers, American, China, U.S

Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

☆ Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI
▼ + stars: | 2024-06-04 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +12 min

Correspondence from Nvidia staffers also indicates that Musk diverted a sizable shipment of AI processors that had been reserved for Tesla to his social media company X, formerly known as Twitter. "Elon prioritizing X H100 GPU cluster deployment at X versus Tesla by redirecting 12k of shipped H100 GPUs originally slated for Tesla to X instead," an Nvidia memo from December said. In a post on X in November, Musk wrote, "X Corp investors will own 25% of xAI." At Tesla, Musk has promised to build a $500 million "Dojo" supercomputer in Buffalo, New York, and a "super dense, water-cooled supercomputer cluster" at the company's factory in Austin, Texas. WATCH: Musk ordered Nvidia to ship thousands of AI chips to X

Persons: Elon Musk, David Swanson, Reuters Elon Musk, he's, Tesla's, Musk, Tesla, Elon, Critics, OpenAI's ChatGPT, Axios Harris, Jensen Huang, Huang, David Paul Morris, xAI's Grok, xAI, he'd, He's, Leo Koguan, Gerber Kawasaki's Ross Gerber, Joel Fleming, Fleming, hasn't, Ethan Knight Organizations: SpaceX, Tesla, Reuters, Nvidia, Tesla's Texas, CNBC, X Corp, EV, Google, Meta, Microsoft, Blackwell, Nvidia Corp, Technology, Bloomberg, Getty, Twitter, Equity Litigation Locations: Beverly Hills , California, Tesla's, U.S, San Jose , California, Buffalo , New York, Austin , Texas, North Dakota, Delaware, Tesla, xAI, SolarCity, Texas, New York

☆ EV concerns overshadow strong Ford sales. Jim Cramer says the stock is down enough
▼ + stars: | 2024-06-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Ford had another month of strong sales, but a wider appeal on Wall Street for the stock depends on cutting the automaker's massive EV division losses. In the first quarter, Ford lost more than $100,000 per EV sold. He also lamented the underperformance of Ford stock relative to rival General Motors — ever since GM announced a buyback in November. However, Jim thinks Ford stock has come down enough. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Ford, EVs, Jim Cramer, General Motors —, Jim, Jim Cramer's, Danielle DeVries Organizations: EV, Bloomberg, Ford, General, GM, Club, CNBC, New York

☆ Musk accused of improperly selling $7.5 billion in Tesla stock before weak sales report that crashed its price
▼ + stars: | 2024-06-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Musk likely knew the weaker sales report was coming at the time of the sale, the suit charges. Tesla stock sales funded Twitter purchaseBefore Musk started his efforts to buy social media platform Twitter, now known as X, the billionaire executive rarely sold Tesla shares. But from April through December in 2022, Musk sold $22.9 billion worth of Tesla stock in unscheduled sales to help fund his $44 billion purchase of Twitter that year. His sales in November and December of 2022, along with the price cuts in China, helped to push down the price of Tesla shares even before the January sales report. Tesla shares soon rebounded, though, and more than doubled during the course of 2023 to close at $248.48.

Persons: New York CNN — Elon Musk, “, Tesla, “ Musk, ”, Michael Perry, Perry, Musk, “ I’m Organizations: New, New York CNN, Twitter, SpaceX, Securities and Exchange Commission, Bloomberg, Tesla Locations: New York, Tesla, China, Delaware Chancery, Delaware

☆ How AI could supercharge the Vision Pro
▼ + stars: | 2024-06-04 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

It could also boost sales of the pricey Vision Pro, which has reportedly and unexpectedly received a production cut. During its most recent earnings call, CEO Tim Cook said more than half of the Fortune 100 companies have already bought an Apple Vision Pro. But while it’s unclear when generative AI will come to the Vision Pro, Nygugen said: “It’s only a matter of time.”That’s because the Vision Pro is merely just another interface – much like a tablet, laptop, or watch, that touches Apple’s ecosystem. The Vision Pro, the tech giant's $3,499 headset, is its first major release since the Apple Watch nine years ago. “Vision Pro just came out a few months ago and it needs to get its feet under it before it really starts to take off,” Llamas said.

Persons: it’s, Tim Cook, It’s, Siri, “, Tuong, ”, Nygugen, ” Nygugen, Angela Weiss, Ming Chi, Kuo, Jeremy Bailenson, Bailenson, Ramon Llamas, Apple, ChatGPT – Organizations: CNN, Developers, Google, Samsung, Vision, Fortune, Apple Vision, Gartner, Apple, Apple Watch, Getty, Vision Pro, Stanford, VR, IDC, Microsoft, “ Locations: Cupertino , California, New York City

Tokyo CNN —Japanese officials descended on the headquarters of Toyota on Tuesday, after a safety test scandal at a number of automakers in the country widened this week. The ministry said five automakers — Toyota (TM), Mazda, Honda (HMC), Suzuki and Yamaha — had submitted incorrect or manipulated safety test data when they applied for certification of the vehicles. All five companies were told to review their safety certification processes. Kyodo/ReutersKoji Endo of SBI Securities said that Japan’s certification tests are very stringent and much stricter than in other countries. In January, Toyota announced it would suspend shipments of certain models after finding irregularities in certification tests for diesel engines developed by its affiliate, Toyota Industries.

Persons: —, Suzuki, Yamaha —, Koji Endo, ”, “, ” Endo, Akio Toyoda, Toyota’s Organizations: Tokyo CNN, Toyota, Japan’s Ministry of Transport, CNN, — Toyota, Mazda, Honda, Yamaha, Corolla Fielder, Corolla, Kyodo, SBI Securities, Transport Ministry, Toyota Industries, Daihatsu Locations: Japan

☆ JPMorgan's bearish quant guru says the meme-stock resurgence is a bad sign for markets
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The resurgence in meme-stocks is a bad sign for the broader stock market. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe resurgence in meme stocks is a bad sign for the stock market, according to JPMorgan chief global markets strategist Marko Kolanovic. A peak in speculative trading activity could spell trouble for the broader stock market down the road. Though one barometer of speculative trading, FINRA margin debt, has yet to eclipse its February 2021 peak of $935 billion.

Persons: Marko Kolanovic, Kolanovic, — Organizations: JPMorgan, Service, Chicago PMI, GameStop, AMC Entertainment Locations: Chicago

☆ Ford EV and hybrid sales surge 65% in May
▼ + stars: | 2024-06-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor's U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly 65% increases in sales of both hybrid and all-electric vehicles. The boost to EV sales is a conundrum for investors. The spike in hybrid sales is part of Ford's plan to double down on the technology. Ford reported total year-to-date U.S. sales through May of 877,685 units, up 5.6% compared with the same time period in 2023.

Persons: DETROIT –, Ford Organizations: New York, DETROIT, DETROIT – Ford Motor's U.S, Detroit, EV, Ford

☆ In a first, Special K features pregnant woman on cereal box
▼ + stars: | 2024-06-04 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN —Years ago, Special K marketed to women by promising that they could lose weight by replacing two meals a day with bowls of cereal. The cereal brand has partnered with Molly Baz, a cookbook author who was recently the star of a buzzy ad for lactation cookies, on a limited edition cereal box. It’s the first cereal box featuring a pregnant woman, according to the brand. The box, which shows Baz with an exposed pregnant belly, is available for purchase on the Kellogg website. WK Kellogg, which owns Special K, Corn Flakes, Kashi and other cereal stalwarts, reported that net sales fell 1.9% year-over-year in the quarter ending on March 30.

Persons: Molly Baz, Baz, WK Kellogg, Baz —, —, ” Baz Organizations: New, New York CNN, Kellogg, New York City’s, @clearchanneloutdoor Locations: New York, Kashi

☆ We're buying more of a stock that should rally when the Fed starts cutting rates
▼ + stars: | 2024-06-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

We are buying 50 shares of Stanley Black & Decker at roughly $83.89. Following the trade, Jim Cramer's Charitable Trust will own 890 shares of SWK, increasing its weighting to 2.33% from 2.20%. The bear case around Stanley Black & Decker can be summed up in one line: mortgage rates are too high. We're not trying to forecast when the cutting will start, but we like the idea of holding onto a name like Stanley Black & Decker for when it happens. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stanley Black, Decker, Jim Cramer's, Jim, We're, Jim Cramer Organizations: Stanley, SWK, Barclays, Home, Federal Reserve, CNBC

☆ Ericsson is shutting down its ad division, the latest in a long line of telco-adtech divorces
▼ + stars: | 2024-06-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Read previewSwedish telecommunications-equipment company Ericsson plans to shut down Emodo, the advertising business it launched in 2017, multiple people familiar with the matter told Business Insider. "Emodo was created in a strategic play for Ericsson to provide our telco customers with monetization opportunities through digital advertising," an Ericsson spokesperson said in a statement. Emodo had only this year brought on a new team to help it build AI-powered ad solutions for connected TV. The closure of Emodo marks the latest in a long line of telco-adtech collaborations that have bitten the dust. The Singaporean telecoms company Singtel divested its Amobee adtech division to the adtech company Tremor International, now known as Nexxen, in 2022.

Persons: —, Emodo, Andrew Rutledge —, DoubleClick, Matt Prohaska, Prohaska Organizations: Service, Ericsson, Business, CTV, Samsung, Verizon, Yahoo, AOL, Microsoft, Singtel, Prohaska Consulting Locations: Xandr

☆ Bob Kelley, founder of used car guide Kelley Blue Book, dies at 96
▼ + stars: | 2024-06-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

That’s short for Kelley Blue Book, and it’s one of the longest-standing sources for used car values there is. Bob Kelley, publisher of used car guide Kelley Blue Book, died at 96. By 1926, that list turned into the first Kelley Blue Book pricing guide for used cars. Long ago, Bob Kelley was a “lot boy” at the dealership run by his uncle and his father, Sidney “Buster” Kelley. In 1995, Kelley Blue Book started a website, making its data easily accessible to the general public, not just industry insiders.

Persons: Kelley, Bob Kelley, Bob Kelley’s, Bob’s, Les Kelley, Kelley Kar, Sidney “ Buster ” Kelley, Charlie Vogelheim, Buster, ”, it’d, ” Bob, Vogelheim, Bob, ” Vogelheim, “, Edmunds Organizations: CNN, Kelley Kar Company, Los, Lexus, Cox Enterprises Locations: Indian Wells , California, Los Angeles

☆ Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
▼ + stars: | 2024-06-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.

Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, —, Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays

☆ Investor home purchases jump for the first time in two years. Here's what that means for buyers
▼ + stars: | 2024-06-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

watch nowWhat an investor home purchase meansIn this context, investors are defined as any institution or business that purchases residential real estate, according to Redfin. Investor share refers to the portion of homes purchased by investors over a certain period, said Chen Zhao, senior economist at Redfin. Part of the recent increase in real estate investor activity is due to seasonality, as more homes are typically sold during the spring, Walsh said. Sales began to decline as mortgage rates climbed, as higher interest rates affect both typical homebuyers and investors, he said. What investor interest means for buyers and rentersIf you're a consumer buying on the market, you are competing against investors on top of other typical homebuyers, Zhao explained.

Persons: Chen Zhao, Zhao, Matthew Walsh, there's, aren't, Moody's, Redfin's Zhao, Walsh, Sales Organizations: Investor, Parcl Labs, Moody's, Investors, CNBC Locations: U.S

☆ Mizuho's top June contrarian picks, where research firm is more bullish than the rest of Wall Street
▼ + stars: | 2024-06-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Of those seven stocks, Mizuho said its investment rating on Lowe's and PayPal were also above the Street consensus. Mizuho analyst David Bellinger's $280 price target implies that the stock could rally 29% from its Monday closing price. "We view Lowe's as decisively well-positioned as home improvement demand recovers and unleashes outsized, double-digit earnings expansion in the process," the analyst wrote. Similarly, financial technology platform PayPal has risen only about 4% this year, leaving its valuation "compelling" at current prices, according to Mizuho analyst Dan Dolev. Dolev's $90 price target is 42% above the stock's current price.

Persons: Mizuho, David Bellinger's, Lowe's, Bellinger, Dan Dolev, Dolev, Dolev's, Siti Panigrahi's, Panigrahi, — CNBC's Michael Bloom Organizations: Mizuho Securities, Stocks, Dow Jones, Nasdaq, Wall Street, PayPal, Home, Oracle, Nvidia, Oracle Cloud Infrastructure Locations: Mizuho

☆ I accidentally bought a counterfeit backpack on Amazon. Now, I know how to avoid sneaky fake products.
▼ + stars: | 2024-06-04 | by ( Lisa Galek | ) www.businessinsider.com time to read: +4 min

Read previewWhile doing back-to-school shopping for my kids in August 2022, I purchased a black JanSport backpack on Amazon. Many Amazon sales come from third-party sellers, which can be hard to vetOver 60% of Amazon's sales come from independent third-party sellers. AdvertisementAn Amazon representative told Business Insider the company has "proactive measures in place to prevent counterfeit products from being listed and continuously monitor[s] our store." When I realized my JanSport was counterfeit, I contacted the seller through Amazon to request a refund. Lastly, buyers can also report counterfeit products to Amazon Customer Service.

Persons: —, I've, they've, Sellers Organizations: Service, Business, Amazon, Amazon Customer Service

☆ Looking for top alternatives to Nvidia? These stocks still look cheap, according to the pros
▼ + stars: | 2024-06-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

We asked the pros which are the best stock alternatives to Nvidia that are still cheap. Meta Meta remains a good investment at its current price, said Adam Coons, portfolio manager at Winthrop Capital Management. In 2025, that revenue growth is set for a 12% increase and earnings growth for 15%. That would put Meta's multiples at 26 times 2024's earnings and 23 times 2025's earnings, according to Coons. Meta is trading at a 19 times EV/EBIT multiple, versus Microsoft's 28 times, and Nvidia's 25 times.

Persons: Adam Coons, it's, Coons, Qualcomm Angelo Zino, Zino Organizations: Nvidia, Nasdaq, U.S . Federal, Winthrop Capital Management, CNBC Pro, Meta, Microsoft, Netflix, Big, Google, Gemini, Qualcomm, CFRA Research, Micron Micron, Micron Locations: Big Tech, China

☆ Why CEO AstraZeneca believes the drugmaker can almost double revenue by 2030
▼ + stars: | 2024-06-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

AstraZeneca CEO Pascal Soriot explained in a Tuesday interview with CNBC's Jim Cramer why the drugmaker believes it can almost double revenue by 2030. The pharmaceutical giant also plans to release 20 new drugs by 2030, half of which will treat cancer, Soriot said. The company recently released promising results about several of its cancer drugs at the American Society of Clinical Oncology's annual meeting, including ones for lung and breast cancers. Soriot said researchers are quickly developing new and promising cancer treatments. He said new cell therapies have the potential to cure patients, and he also pointed to antibody-drug conjugates — which, unlike chemotherapy, aim to target cancer cells while sparing healthy ones.

Persons: Pascal Soriot, CNBC's Jim Cramer, we're, Soriot Organizations: AstraZeneca, American Society, Clinical, CNBC

☆ Nvidia could be set for a 30% correction as it faces 3 major headwinds, including waning demand and competition, says a senior investment researcher
▼ + stars: | 2024-06-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

"The company made a massive switch in its consumer mix," said Sandeep Rao, a senior researcher at Leverage Shares, an investment management company. As for competition, even if Nvidia's contenders appear weak, more entrants will grab market share. Beth Kindig, the CEO and lead tech analyst for the I/O Fund, estimates that AMD's market share could reach 20%. Nvidia and AMD have similar production costs since neither makes their GPUs but uses the same supplier, Taiwan Semiconductor (TSMC). "So AMD is a little bit behind in terms of performance," Rao said.

Persons: Sandeep Rao, corporates, Rao, Nvidia's, Blackwell, Rubin, AMD'sRadeon, Beth Kindig, Nvidia's Blackwell Organizations: Service, Apple, Microsoft, Business, Nvidia, Semiconductor, Nvidia Investors, AMD, Taiwan Semiconductor, Intel, Baidu Locations: China, India

☆ Politics playing a role in electric vehicle adoption: Michigan Gov. Gretchen Whitmer
▼ + stars: | 2024-06-04 | by ( Ian Thomas | ) www.cnbc.com time to read: +5 min

The future of the electric vehicle is a critical issue for the U.S. auto industry and its home base of Detroit, Michigan. "We've seen politics bleed into this space," Whitmer said at the CNBC CEO Council Summit in Washington, D.C., on Tuesday. "I don't think [listening] changes your values, but you always have to be able to learn and to understand what's going on," Whitmer said. "We're going to meet our energy goals and our climate goals and nuclear is an important part of the equation. Do the next right thing, on behalf of your employees, on behalf of your employees, on behalf of your community."

Persons: It's, Gretchen Whitmer, Biden, Donald Trump's, Whitmer, EVs, we've, We've, Carl Quintanilla, I'm, it's Organizations: U.S, Michigan Gov, CNBC, Summit, Washington , D.C, EV, Republican, Democratic Locations: Detroit , Michigan, Washington ,, Michigan

☆ What we want to hear about AI iPhones at Apple's big developers event next week
▼ + stars: | 2024-06-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. 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, Siri, Bernstein, Jim, Jim Cramer's Organizations: CNBC, Federal Reserve, Fed, Broadcom, Melius Research

☆ With Paramount's long and winding sales process coming to an end, here's what comes next for the media giant
▼ + stars: | 2024-06-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe media giant, which owns Paramount Pictures and CBS, has been in the news as an acquisition target since late last year. Skydance might not be as recognizable a name, but the company's owner and CEO David Ellison is. It's "is Paramount big enough to survive on its own?" The rush to corner the market on data centers is a move by Big Tech to secure the keys to the coming AI kingdom. Big Tech, finance, and consulting jobs are becoming harder to come by, upending the job search for young people.

Persons: —, Donald Trump, Rebecca Zisser, Warner, David Zaslav, Byron Allen, David Ellison, Larry Ellison, he's, Phillip Faraone, Peter Kafka, That's, Larry Ellison's, Alyssa Powell, Savita Subramanian, Gary Shilling, Kitty, Keith Gill, Arif Qazi, Jason Zander, they'll, Apple's, Siri, Dominic Bugatto, that's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Paramount, Business, Paramount Pictures, CBS, RedBird Capital Partners, KKR, Warner Bros . Discovery, Sony, Hollywood, Getty, Tech, Bank of America, Wall Street, GameStop, Google, Microsoft, Big Tech, BI, Washington Post, Hewlett Packard Enterprise Locations: China, India, Texas, New York, London

☆ While new electric vehicle sales are slowing, used sales are ramping up
▼ + stars: | 2024-06-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

CNN —Sales of new electric vehicles have started to slow, but the opposite is happening with used EVs. The used car sales website Carvana saw its used EV sales more than double since last year. While increases in used EV sales are huge, they still make up a small portion of overall used vehicle sales. Used EVs still cost more, on average, than used gas-powered vehicles, but they cost a lot less than new EVs. While prices for new EVs average around $63,000, prices for used ones average around $36,000, according to Cars.com.

Persons: EVs, Carvana, wasn’t, Price, Cars.com, Truecar, “, who’ve, ”, Matt Jones, ” Manheim, “ We’ve, it’s, Grace Huang, we’ve, Tesla, Jones, Rebecca Lindland, Courtney Vaughn, “ I’m, Lindland Organizations: CNN —, EV, TrueCar, Cox Automotive, Cox, Cars.com, Chevrolet, Hyundai, Hyundai Kona EV, US Department of Locations: Georgia, New York, California, ”

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