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☆ A global labor shortage will send tech stocks soaring, with the sector poised to grow to 50% of the total stock market, Fundstrat says
▼ + stars: | 2024-05-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A global labor shortage of about 80 million workers will make tech stocks go parabolic, according to Fundstrat's Tom Lee. "I think AI is really addressing a global labor shortage of roughly 80 million workers by the end of 2030," Lee said. AdvertisementA global labor shortage of about 80 million workers by the end of 2030 is going to send technology stocks soaring, according to Fundstrat's Tom Lee. This isn't the first time a global labor shortage has led to a parabolic move higher in technology stocks as tech companies helped boost productivity. Fundstrat"Between 1948 and 1967 there was a global labor shortage and technology stocks went parabolic.

Persons: Tom Lee, Lee, —, it's Organizations: Service, Nvidia, Cisco

"We need much more European big players, and I think Mistral AI can be one of them," Macron said of France's leading AI company. Macron also praised H, the newly launched French AI startup that announced this week it had raised a massive $220 million from its initial round of financing. He compared allowing American tech giants to operate under U.S. regulations while in Europe, to allowing a French bank in the United States to ignore American banking regulations. When it comes to China, however, Macron implied that he thought some U.S. tech regulations had gone too far. "Look, I think China is a competitor when you speak about trade, innovation and economy.

Persons: Emmanuel Macron, Macron, CNBC's Andrew Ross Sorkin Organizations: France —, Microsoft, CNBC, European, EU Artificial Intelligence, European Union, Google, TikTok Locations: PARIS, France, France — Europe, China, United States, U.S, Paris, Mistral, Europe, Washington, Brussels

☆ 14 music-tech startups helping to shape the business as it's shaken up by AI
▼ + stars: | 2024-05-23 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Industry professionals (and their lawyers) are scrutinizing how AI models are trained and evaluating new ways to pay creators for derivative work. Entertainment lawyers are busy crafting ways to protect against AI companies exploiting their clients' intellectual property. Still, the music industry is benefiting from the tech revolution in many ways, collecting billions in revenue from streaming apps and other platforms. For our third annual list of impactful music-tech startups, BI looked for companies that are changing the ways music is created, distributed, and consumed in 2024.

Persons: —, We've, Jordan Bradley, Sam Hamad, Gregg Lehrman Organizations: Service, Business, Industry, Entertainment

☆ More tech stocks are set to benefit from Nvidia's gain, according to analysts. Here's a lineup
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Bhattacharya said Super Micro is well-positioned with smaller cloud service providers that are expanding globally amid strong demand. SMCI YTD mountain Super Micro, year to date Taiwan Semiconductor also stands to gain from Nvidia's report, according to Bank of America analyst Brad Lin. Nvidia's strong forward guidance is a particularly good sign, Bank of America argued. Citigroup analyst Laura Chen told clients to expect "strong momentum to continue" at Taiwan Semiconductor following Nvidia's latest financial results. For the former, he listed Astera Labs , Credo Technology , Marvell Technology , Macom Technology Solutions and Monolithic Power Systems as likely winners given their high exposure.

Persons: Ruplu Bhattacharya, Bhattacharya, Supermicro, It's, FactSet, Brad Lin, Lin, Laura Chen, Dell, Asiya Merchant, Merchant, Tore Svanberg, Svanberg Organizations: Nvidia, Computer, Bank of America, Taiwan Semiconductor, Citigroup, Taiwan Semiconductor's, Citi, Dell, DELL, Technology, Marvell Technology, Macom Technology Solutions, Systems, Semiconductors, ON Semiconductor, Ambarella, Texas, Devices, Power Systems Locations: Taiwan, Taiwan Semiconductor's U.S

☆ Hedge funds loaded up on financial and tech stocks in the first quarter—Here's what they picked
▼ + stars: | 2024-05-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Hedge funds added more exposure to financial and tech names in the last quarter, according to Morgan Stanley. Castagno highlighted that in the last quarter, hedge funds seemed to shift their portfolio allocations toward the information technology and financials sectors, moving away from health care. However, hedge funds still remain most overweight stocks within the health care, consumer discretionary and industrials industries. Hedge funds have recently increased their ownership shares in retailer Bath & Body Works by 2.5%. Wolfe Research upgraded shares of Alaska Air Group to outperform from peer perform last Friday.

Persons: Morgan Stanley, Todd Castagno, Castagno, A.J, — CNBC's Michael Bloom Organizations: Securities and Exchange, Universal Health Services, UBS, Body, JPMorgan, Airline, Alaska Air Group, Wolfe Research, TPG, DXC Technology, Avis Budget Group Locations: Rice, Bath, Coast

☆ How the US Navy's Virginia-class attack submarine gives the US an edge in global undersea superiority
▼ + stars: | 2024-05-23 | by ( Kris Osborn | ) www.businessinsider.com time to read: +6 min

The Navy's Virginia-Class: The best submarine of all timeThe Virginia-class attack submarine USS Virginia returns to Naval Submarine Base New London after her maiden six-month deployment. Given these and other variables, Virginia-class submarines are becoming increasingly critical to clandestine "intel" missions in high-risk areas. Virginia-class vs. Kilo-class submarinesFuture Virginia-class attack submarine PCU Idaho during a christening ceremony at General Dynamics Electric Boat shipyard facility in Groton, Connecticut. Attack submarines as "intel spy" submarinesThe Virginia-class fast-attack submarine USS Indiana surfaces in the Beaufort Sea during Operation Ice Camp. This can increase the speed of maneuverability and an attack submarine's ability to quickly shift course, change speed, or alter depth positioning when faced with an attack.

Persons: —, Steven Myers, John Narewski Block, Foster, Alexander Yachanin Organizations: Service, Pentagon, US Navy, Business, Naval Submarine Base, intel, General Dynamics Electric, Intelligence, Camp, Stanford University, Nuclear, Electronics, Brandon Holland, United States Submarine Force, Special Operations Forces, Tomahawk, Forces Locations: Navy's Virginia, Virginia, London, South Dakota, Idaho, Groton , Connecticut, Indiana, Beaufort, Los Angeles, The Virginia, Mississippi, Yokosuka

☆ Microsoft’s UAE deal could reportedly involve transfer of key U.S. chips and AI technology abroad
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: +3 min

U.S. officials have said that AI systems could pose national security risks, for example by making it easier to engineer chemical, biological and nuclear weapons. The Biden administration in October required the makers of the largest AI systems to share details about them with the U.S. government. Microsoft executives said the agreement has safeguards to protect Microsoft's technology and prevent it from being used by Chinese entities to train AI systems. The Commerce Department already requires notifications and, in several regions, export licenses to send AI chips abroad. Microsoft executives said the company welcomes a debate on a new legal framework governing the transfer of AI technology and that the deal with G42 requires the UAE firm to comply with U.S. regulations as they evolve.

Persons: Brad Smith, Smith, Biden, Michael McCaul, we're Organizations: Microsoft, United Arab, Reuters, U.S ., U.S . Department of Commerce, U.S . House, Commerce Department Locations: Madrid, Spain, United Arab Emirates, U.S, UAE

☆ OpenAI's defense: We're not liars; we're just incompetent. Yikes!
▼ + stars: | 2024-05-23 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Earlier this week, the consensus around OpenAI was that the company was a lying, rapacious soul stealer. A company that wanted to use Scarlett Johansson to promote its product — and when she declined, went ahead and did it anyway, using a fake Scarlett Johansson. Here's the problem: The second version of reality is the one OpenAI itself is pushing. And OpenAI is a relatively young company, with a particularly chaotic history, which includes a foundational fight with Elon Musk and last year's well-publicized Thanksgiving coup-that-wasn't. Now they're telling us they can't handle the most basic stuff, like telling the left hand what the right hand is doing.

Persons: OpenAI, Scarlett Johansson, —, Scarlett Johansson —, Sam Altman, Johansson —, Altman, Joanne Jang, Jang, Mira Murati, Elon Musk, It's Organizations: Washington Post, bumblers, Apple, Microsoft Locations: Washington

☆ Big Tech goes on AI charm offensive in Europe as regulators circle
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.

Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S

☆ Alibaba bets on AI to fuel cloud growth as it expands globally to catch up with U.S. tech giants
▼ + stars: | 2024-05-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Alibaba on Thursday said it expanded its global cloud computing availability, while the head of the unit's international arm touted the company's AI products as a way to fuel growth. "We want to have ... more efforts and investments for our international data centers," Selina Yuan, President of Alibaba Cloud's international division, told CNBC in an interview on Wednesday. The push for growth follows a turbulent time for Alibaba Cloud, after the division scrapped a planned initial public offering and underwent a management reshuffle. Alibaba's cloud division began to expand internationally in 2015 with so-far mixed results. Amazon , Microsoft and Alphabet -owned Google account for around 67% of global cloud market share, according to Synergy Research Group.

Persons: Selina Yuan, Alibaba, — Organizations: CNBC, Microsoft, Synergy Research Locations: Mexico, Malaysia, Thailand, South Korea, China, Asia

☆ Meta created an AI advisory council that’s composed entirely of White men
▼ + stars: | 2024-05-23 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men. The situation mirrors an incident last year at OpenAI when, in the wake of a leadership shakeup, it came under fire for appointing a board composed entirely of White men. The large language models that underpin AI systems are trained on vast troves of data, often written by humans and coming from the internet. Meta did not immediately respond to a request for comment on the council’s lack of diversity.

Persons: Patrick Collison, Nat Friedman, Tobi Lütke, Charlie Songhurst, White, OpenAI, ” Joy Buolamwini, Meta Organizations: New, New York CNN, Microsoft, Meta, League, CNN Locations: New York, OpenAI

Another group recently compared messages translated by humans and A.I. A Democratic firm tested four versions of a voice-over ad — two spoken by humans, two by A.I. The era of artificial intelligence has officially arrived on the campaign trail. With less than six months until the 2024 election, the political uses of A.I. The Biden campaign said it has strictly limited its use of generative A.I.

Persons: Biden, Trump Organizations: Democratic Locations: Mississippi

☆ Amazon’s new cloud boss inherits a business under pressure to keep pace in AI
▼ + stars: | 2024-05-23 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +12 min

"It's very early days in generative AI," said Jassy, who succeeded Jeff Bezos as CEO in 2021. Davidson, told CNBC that Amazon was "caught flat-footed" by the generative AI boom. During a Q&A session on Wednesday, Jassy was asked twice about the status of Amazon's generative AI efforts. He said the company is "seeing a lot of momentum" in generative AI within AWS to where it's now a multibillion-dollar business based on annualized revenue. Amazon has previously said it intends to use generative AI to make Alexa more conversational.

Persons: Noah Berger, Andy Jassy, OpenAI's ChatGPT, Adam Selipsky, Jassy, Jeff Bezos, Matt Garman, Gil Luria, Davidson, Luria, Bezos, Selipsky, Casey McGee, McGee, Anthropic, Dario Amodei, OpenAI, it's, Garman, Amazon, wasn't, Dilip Kumar, Kumar, Swami Sivasubramanian, Jamie Meyers, Meyers, Matt, Jordan Novet, Kate Rooney Organizations: Web Services, Getty, Amazon, Microsoft, Google, D.A, CNBC, Amazon Web, Alexa, AWS, Nvidia, ChatGPT, Accenture, Toyota, Nasdaq, Investments Locations: Las Vegas, Vegas, Bezos, Anthropic

☆ TikTok Is About to Become Even More Powerful Thanks to Millennials
▼ + stars: | 2024-05-23 | by ( Emilie Friedlander | ) www.businessinsider.com time to read: +14 min

"I have friends that say that TikTok Shop has ruined the app," Casey Lewis, a trends researcher, said. "It can be good — especially as TikTok moves to TikTok Shop — if they're able to capitalize on this shift and sell products more effectively to older users." Just because something is going viral on TikTok doesn't necessarily mean Gen Z is behind it. The same could be said of Gen Z, which would explain the generations' shared fascination with a time before smartphones and round-the-clock news. The Gen Z users I spoke with didn't seem particularly concerned about an influx of olds.

Persons: Keara Sullivan, Zers, Rushmore, Sullivan, Ryan Broderick, Adam Bumas, Broderick, TikTok, —, Cory Doctorow, it's, Kevin Munger, Doctorow, Casey Lewis, Lewis hasn't, Gen Zers, Jonathan Gelfond, Taylor Lorenz, Lorenz, Munger, Gen Z, Lewis, Stanley, Alpha, Zers —, Gen Alpha, hasn't, millennials, Jason Parham, Leslie Horn Petersen, she's, Gen, didn't, I've, Emilie Friedlander Organizations: New, Pew Research Center, Facebook, Senate, Microsoft, Penn State, Little League, Business, QVC, UC Santa Barbara, The Washington Post, YouTube Locations: New York, tfym, millennials, Brooklyn, Philadelphia

☆ Elon Musk predicts smarter-than-humans AI in 2 years. The CEO of China's Baidu says it's 10 years away
▼ + stars: | 2024-05-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Chesnot | Getty ImagesPARIS — Robin Li, CEO of one of China's biggest tech firms Baidu , said artificial intelligence that is smarter than humans is more than 10 years away, even as industry staple Elon Musk predicts it will emerge very soon. Artificial general intelligence, or AGI, broadly relates to AI that is as smart or smarter than humans. Li, whose company Baidu is one of China's leading AI players, signals this isn't realistic. I think [it] is more than 10 years away," Li said during a talk on Wednesday at the VivaTech conference in Paris. "[My] fear is that is that AI technology is not improving fast enough.

Persons: Robin Li, Porte de Versailles, Musk, AGI, Sam Altman, Li, it's, Everyone's Organizations: Baidu, Viva Technology, Parc, Getty, PARIS, Elon Locations: Paris, France, Europe

☆ Elon Musk says AI will take all our jobs
▼ + stars: | 2024-05-23 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +2 min

CNN —Elon Musk says artificial intelligence will take all our jobs and that’s not necessarily a bad thing. “Probably none of us will have a job,” Musk said about AI at a tech conference on Thursday. While speaking remotely via webcam at VivaTech 2024 in Paris, Musk described a future where jobs would be “optional.”“If you want to do a job that’s kinda like a hobby, you can do a job,” Musk said. Concerns also continue to mount over how various industries and jobs will change as AI proliferates in the market. The report also said the majority of jobs previously identified as vulnerable to AI were not economically beneficial for employers to automate at that time.

Persons: CNN — Elon, ” Musk, Musk, ”, Ian Banks, “ Organizations: CNN, MIT’s Computer, Artificial Intelligence Locations: Paris

☆ Investing in Space: How the Pentagon is making use of AI with spy satellite data
▼ + stars: | 2024-05-23 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. The conversation I moderated was on "Big (Geospatial) Data & AI," with the goal of exploring how the two rapidly evolving worlds of satellite data collection and artificial intelligence interact. Simply put, Project Maven at NGA is working on how AI can use satellite imagery and data to detect objects and activities around the world. "As the volume of that data grows, it is beyond the capacity of the human mind to be able to derive any kind of useful understanding from that kind of data," Martin said. And more change is coming: The next step in the evolution of geospatial data and AI, from her view, is applying generative AI "to basically arm non-experts with the ability to expertly use geospatial data."

Persons: CNBC's Michael Sheetz, Nathan Kundtz, Rachael Martin, Martin, Maven Organizations: Space, Maven, National Geospatial - Intelligence Agency, of, NGA, National Reconnaissance Office, NRO Locations: China

☆ Jenny Nicholson breaks down Disney’s ‘Star Wars’ hotel closure
▼ + stars: | 2024-05-23 | by ( Aj Willingham | ) edition.cnn.com time to read: +6 min

Some of her most popular videos cover shows and movies like “The Vampire Diaries,” “Pirates of the Caribbean” and installments in the “Star Wars” franchise. None of them are nearly as long as her most recent video, “The Spectacular Failure of the Star Wars Hotel.”Over the course of 20 video chapters, Nicholson details her 2022 stay at the “Star Wars: Galactic Starcruiser” hotel in Orlando, Florida. The tale is likely familiar to Disney and Star Wars fans, many of whom heard about the high-dollar, high-concept hotel and its closure in 2023. The big draw of the hotel lay in what Disney marketing called an “immersive, customizable Star Wars experience” that Nicholson equated to LARPing, or live-action roleplaying. “I couldn’t care less about some dumb Star Wars hotel, but give me those 4 hours,” one X user said.

Persons: YouTuber Jenny Nicholson, ”, Nicholson, Allen J, Gen, Disney, Bob Iger, CNN’s Natasha Chen Organizations: CNN, Disney, Walt Disney, ” “ Pirates, “, Wars, Star Wars, Los Angeles Times, Star, Google, Magic, Orlando’s Walt Disney, Disney Parks, Galactic, ’ Locations: Caribbean, Orlando , Florida, Walt, Orlando’s, Anaheim, Florida

☆ Analysts boost Nvidia price targets on strong demand outlook, say 'narrative is clearly nowhere near its end'
▼ + stars: | 2024-05-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts are turning more bullish on Nvidia yet again following another strong guide from the chipmaking behemoth. "The narrative is clearly nowhere near its end, or likely nowhere near its peak," he wrote, adding that shares appear inexpensive. He expects Nvidia's Blackwell chips to be sold out through 2025. "While it's large enough market that competitors can succeed or even gain share, NVIDIA remains the standard bearer for multifaceted AI," he wrote. Nvidia's results lifted the broader chip sector, with the VanEck Semiconductor ETF (SMH) trading 3% higher in the premarket.

Persons: Tom O'Malley, Bernstein's Stacy Rasgon, Blackwell, Blayne Curtis, Citi's Atif Malik, JPMorgan's Harlan Sur, Goldman Sachs, Toshiya Hari, Sur, Morgan Stanley's Joseph Moore, Nvidia's Blackwell Organizations: Nvidia, Blackwell, Wall, Barclays, Jefferies, NVIDIA, VanEck Semiconductor, Micron Technology, AMD Locations: CY25

☆ Tech investor says this is what worries him the most about AI product vendors
▼ + stars: | 2024-05-23 | 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 EmailTech investor says this is what worries him the most about AI product vendorsPaul Meeks of Harvest Portfolio Management discusses his biggest concerns about semiconductor companies amid the technology and A.I boom, and NVIDIA's blowout earnings report.

Persons: Paul Meeks Organizations: Tech, Portfolio Management

☆ Despite recent apologies and reassurances, documents leaked to Vox show OpenAI pressured departing employees over equity
▼ + stars: | 2024-05-23 | by ( Sarah Gray | Erin Snodgrass | ) www.businessinsider.com time to read: +5 min

A Vox story on Saturday said the company could take back vested equity if departing employees did not sign a non-disparagement agreement. "For a company to threaten to claw back already-vested equity is egregious and unusual," California employment law attorney Chambord Benton-Hayes told Vox. AdvertisementOn Saturday, OpenAI CEO Sam Altman said on X, "Vested equity is vested equity, full stop." We have not and never will take away vested equity, even when people didn't sign the departure documents. Not signing "could impact your equity," OpenAI told one of them, per Vox.

Persons: —, Chambord Benton, Hayes, Vox, Sam Altman, Altman, Kelsey Piper's, OpenAI execs, Jason Kwon, Kwon, OpenAI, i've, Scarlett Johansson Organizations: Service, Equity, Business, Vox Locations: California, Vox

☆ Stocks making the biggest moves before the bell: NVDA, LYV, SNOW
▼ + stars: | 2024-05-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.

Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, —, Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York, —

☆ A key ether ETF deadline arrives, but SEC's Gensler won't tip his hand on approval or denial
▼ + stars: | 2024-05-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Circuit ruled against the SEC's denial of spot bitcoin ETFs, the regulatory agency "pivoted" and approved those funds in January. The bill sets up a regulatory framework for crypto assets. Gensler said crypto assets — and exchanges in particular exchanges — do not meet this test: "This field is not decentralized. He said crypto exchanges are "operating in ways that are conflicted in ways that traditional exchanges [are not]. Gensler says he is not against financial innovation The SEC chairman pushed back against the claim he was against financial innovation.

Persons: Gary Gensler, Eric Pan, Gensler, Joe Biden's, Pan, We'd Organizations: SEC, U.S . Securities, Exchange Commission, Investment Company, ICI Leadership Summit, U.S ., Appeals, Representatives, Innovation, Technology, Century, Futures

☆ Morgan Stanley tells investors to avoid hedge funds' overcrowded trades
▼ + stars: | 2024-05-23 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Owning overcrowded trades that are most popular among hedge funds could be risky for individual investors in the event of a herd-like stampede by systematic traders, according to Morgan Stanley, which looked at stocks to avoid. Despite their popularity and performance, none of the megacap tech stocks made the list of overcrowded stocks. That's because their enormous share count makes hedge funds' ownership less significant. Morgan Stanley found that hedge funds were most overweight in consumer discretionary, industrial and health care stocks last quarter, while they were most bearish on technology and consumer staples companies. Janus Henderson , The New York Times , Planet Fitness and Wayfair were also on the list of crowded trades.

Persons: Morgan Stanley, Russell, Howard Hughes, Janus Henderson, — CNBC's Michael Bloom Organizations: Avis Budget Group, Howard Hughes Holdings, The New York Times Locations: The

☆ 5 millennials who are on their way to financial independence share why they have no intention of retiring early
▼ + stars: | 2024-05-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

October, a speech-language pathologist for New York City Public Schools, started her journey toward financial independence a few years ago. October is one of many millennials who are working toward achieving financial independence, one of the main goals of the FIRE — financial independence, retire early — community. Some millennials who successfully achieved financial independence told BI that a traditional retirement is overrated. Advertisement"The whole time I've been thinking in terms of my financial independence as what I call single-player mode. She sees financial independence as an extension of her drive to fulfill passion projects.

Persons: —, Shelly, she'll, she's, She's, millennials, They're, Scott Rieckens, Millennials, Oz Chen, he's, Oz Chen He's, hasn't, I'm, Chen, Gabriela Ariza, Ariza, David, Jill Pawley, Jilly Pawley, they'll, they've, It's, Jill Organizations: Service, New York City Public Schools, Business, Neighborhood Assistance Corporation of America Locations: Yonkers, New York City, Los Angeles, Illinois, Chicago, Rockford, Haiti, Michigan

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