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☆ Mistral, a French A.I. Start-Up, Is Valued at $6.2 Billion
▼ + stars: | 2024-06-11 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +1 min

Mistral, a French artificial intelligence start-up, said on Tuesday that it had raised 600 million euros, or about $640 million, from investors, a sign of robust interest in a company seen as Europe’s most promising rival to OpenAI and other Silicon Valley A.I. Mistral is now valued at €5.8 billion, according to a person familiar with the investment, an eye-popping sum for a company founded just one year ago by alumni from Meta and Google. Since OpenAI released ChatGPT in November 2022, investors have poured money into generative A.I. Two weeks ago, Elon Musk raised $6 billion for his start-up, xAI. OpenAI has raised roughly $13 billion from Microsoft, while another California start-up, Anthropic, has raised more than $7.3 billion.

Persons: Andreessen Horowitz, Elon Musk, OpenAI Organizations: Meta, Google, Catalyst, Lightspeed Ventures, Nvidia, Samsung, Salesforce, Cisco, IBM, BNP, Microsoft Locations: California

☆ Final Trades: Apple, Uber, Meta and the IDU
▼ + stars: | 2024-06-11 | 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 EmailFinal Trades: Apple, Uber, Meta and the IDUThe Investment Committee shares their top stocks to watch for the second half.

Organizations: Apple, Investment Committee

☆ Why high-end calligraphy is so expensive
▼ + stars: | 2024-06-11 | by ( Enxhi Dylgjeri | Amelia Kosciulek | ) www.businessinsider.com time to read: 1 min

Once a practical way to transcribe, calligraphy has evolved into a fine art. As the practice we recognize today spread across East Asia, countries like China, Japan, and Korea developed their own methods of creating high-quality calligraphy tools. Top-of-the-line brushes can cost $1,000, and quality ink sticks can reach multiple thousands of dollars. And while dedicated master craftsmen worry about the future of traditional calligraphy tools, younger calligraphers swear by the quality of these handmade items. So why are calligraphers willing to spend so much just to write?

Persons: calligraphers Organizations: Business Locations: East Asia, China, Japan, Korea

☆ Stocks making the biggest moves premarket: Eli Lilly, General Motors, Shopify
▼ + stars: | 2024-06-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Eli Lilly — Eli Lilly shares rose 2% after a panel of FDA advisors recommended the approval of its Alzheimer's drug known as donanemab. General Motors — The automaker's stock added more than 1% after its board authorized a $6 billion stock buyback program . Shopify — The e-commerce stock rose about 1% after JPMorgan initiated coverage with an overweight rating. Apple — Apple shares slipped less than 1% a day after the iPhone maker's Worldwide Developers Conference, where it revealed its artificial intelligence plans , called Apple Intelligence. GameStop — GameStop shares slipped 1% before the bell, continuing its volatile ride.

Persons: Eli Lilly, General Motors, Siri, Keith Gill's, Lee Cole, —, Jesse Pound, Sarah Min Organizations: General, JPMorgan, Apple, Apple Intelligence, Technology, Reuters, Apollo, Kyndryl Holdings, GameStop, Calavo, —, Calavo Growers

☆ Interior designers reveal 13 things worth splurging on in your living room
▼ + stars: | 2024-06-11 | by ( Cheyenne Lentz | ) www.businessinsider.com time to read: +7 min

Aspects and Angles/ShutterstockThe sofa is the most important piece of furniture in the living room, according to Rachel Street, an interior designer who hosted DIY Network's "Philly Revival." "This is a good place to spend your budget," Street told BI. "The ideal sofa will provide a comfortable place to sit as well as add to the overall design of the room." A bar is great when you're entertaining guestsWhether it be a wet bar or a wine cabinet, having a little bar area in the living room is convenient for when you have guests over. "When designing a living room, I pay special attention to all the light fixtures, including recessed fixtures and decorative table lamps," Maynard told BI.

Persons: —, Rachel Street, Samantha Orley, Robbie Maynard, Robbie Interiors, Maynard, Orley, John Keeble Organizations: Service, Business

☆ This under-the-radar tech stock is a Gen AI 'enabler,' and analysts give it 40% upside
▼ + stars: | 2024-06-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.

Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake

☆ Warner Bros. Discovery strikes 10-year deal to broadcast the French Open in the U.S.
▼ + stars: | 2024-06-11 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

Warner Bros. The deal is set to make Warner Bros. Warner Bros. Discovery-owned Eurosport has been broadcasting the French Open to 55 countries outside the U.S. since 1989, according to a press release. Meanwhile, Warner Bros. With the hangover from the Hollywood writers' strike and cost-cutting measures across the industry, including at Warner Bros.

Persons: Spain's Rafael Nadal, Germany's Alexander Zverev, Philippe, Chatrier, Roland Garros, Roland, Garros, Luis Silberwasser, Comcast's, Venu, Disney's, NBCUniversal, — CNBC's Alex Sherman Organizations: Roland, Warner Bros, TNT Sports, Garros, French Tennis Federation, Discovery, Grand, Warner Bros ., Eurosport, TNT, TBS, Comcast's NBC, Tennis, Disney's ESPN, Fox, TruTV, National Hockey League, NASCAR, U.S, Soccer, College Football, ESPN, NBA, CNBC, Hollywood, Comcast Locations: Paris, U.S, NBCUniversal

☆ Inside the Goldman Sachs' 2024 summer internship: From the first-day jitters to David Solomon's words of wisdom
▼ + stars: | 2024-06-11 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

It was Monday, June 10, the first day of Goldman Sachs' 2024 summer internships at its Manhattan headquarters. Goldman Sachs received a record 315,126 applications for its 2024 internship program, up severalfold from the 53,107 applications it received a decade ago. Goldman interns mingle Emmalyse BrownsteinDay 1 began with basics like how to access their Goldman email account and log into their company dashboards. For lunch, the bank served sandwiches and wraps and displayed chocolate-covered cookies emblazoned with the Goldman Sachs logo for dessert. See Solomon's full letter to interns below:AdvertisementJune 11, 2024 Welcome to Goldman Sachs On behalf of our people around the world, welcome to Goldman Sachs.

Persons: Goldman, Goldman Sachs, David Solomon, Chocolate, JPMorgan Chase, Emmalyse, Solomon, Will Bousquette, Jean Altier, Lou D'Ambrosio, Dan Dees, David Organizations: Service, Business, tote, JPMorgan, Goldman, BI, Invest Locations: Manhattan, New York City, New York, Dallas, San Francisco, Palm, bagels, Hudson

☆ GM board approves new $6 billion share buyback authorization
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors on Tuesday announced a new $6 billion stock repurchase authorization has been approved by its board. The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of this month. This allows us to continue returning cash to shareholders," GM CFO Paul Jacobson said in a release. The new authorization will allow GM to opportunistically repurchase shares after the completion of the existing reauthorization, the automaker said. The announced buyback plans come amid uncertainty surrounding the adoption of all-electric vehicles, which GM has bet heavily on, and stalling customer demand for new vehicles.

Persons: Paul Jacobson, Jacobson Organizations: DETROIT, Motors, GM

☆ A Gen Xer got $110,000 in student loans forgiven after he'd paid off more than he borrowed. It's allowed him to scrap his plans to work part-time in retirement.
▼ + stars: | 2024-06-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Biden-Harris Administration has forgiven your federal student loan(s) listed below with Aidvantage in full." My wife's an assistant principal, and I'm a retired assistant principal, but now I don't worry about crushing debt," Perry said. Related storiesPerry was planning on going into substitute teaching to continue supplementing his income during retirement while he made his student-loan payments. Have your student loans been forgiven? Do you have a different experience with student debt?

Persons: —, Steven Perry, Perry, he's, Harris, I'm, let's, Kris Neilson, that's, Zers, we've Organizations: Service, Business, Public, Harris Administration, Education Department, BI, Gallup, Lumina Foundation Locations: PSLF, forbearance

☆ Calls of the Day: AMD, American Express, Snowflake and Uber
▼ + stars: | 2024-06-10 | 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 EmailCalls of the Day: AMD, American Express, Snowflake and UberThe Investment Committee discuss the latest Calls Of The Day.

Organizations: American Express, The Investment

☆ Final Trades: Amazon, Natera and KKR & Co.
▼ + stars: | 2024-06-10 | 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 EmailFinal Trades: Amazon, Natera and KKR & Co. The Investment Committee gives you their top stocks to watch for the second half.

Organizations: Natera, KKR, Co, Investment

☆ Countdown to Apple's Worldwide Developers Conference: What you need to know
▼ + stars: | 2024-06-10 | 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 EmailCountdown to Apple's Worldwide Developers Conference: What you need to knowThe Investment Committee debates what's at stake for Apple today as we countdown to Apple's Worldwide Developers Conference live in Cupertino.

Organizations: Worldwide, Apple, Conference Locations: Cupertino

☆ Andy Sieg is quickly shaking up Citi's wealth business. At least 21 senior execs have left since his arrival.
▼ + stars: | 2024-06-10 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

But the leadership of its ailing wealth unit is continuing to undergo major changes under its new boss Andy Sieg. Citi's wealth unit has seen at least 21 senior executives exit since Merrill Lynch veteran Sieg joined in September. The latest is Julia Carreon, global head of wealth platform and experiences. Sieg also plans to expand Citi's already successful wealth business in Asia. Here is our running list of senior departures from Citi Wealth.

Persons: —, Andy Sieg, Merrill Lynch, Sieg, Julia Carreon, Naz Vahid, Carreon, David Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merrill, Don Plaus, Hale Behzadi, Dawn Nordberg, Morgan Stanley, Citi David, Francesco Bertoni, Alfonso Camacho Bustillo, Hoyt, Paul Hodes, Robert Hoffman, Keith Lee Hong, Li, Liu, Fernando Lopez Munoz, Alex Marshall, Eduardo Martinez Campos, Luigi Pigorini, Fernando Senso, Jeff Sutton, Naz, Vahid, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Service, Citi, Citi Wealth, Business, Bankers, Citi Global Wealth, North America, Francesco Bertoni EMEA, Hoyt Gier Global, South, Asia, Fernando Lopez Munoz Head, Tate, Eduardo Martinez Campos Head, Mark Mills Regional, Fernando Senso Castilla Global, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Paul Hodes Asia, South Asia, Keith Lee Hong Kong, Asia Pacific, Shyam Sambamurthy South Asia, Fernando Senso Castilla, America, West China, hcuccinello@businessinsider.com

☆ DNC is infusing $2 million into state parties in push to win key down-ballot races and boost voter registration efforts
▼ + stars: | 2024-06-10 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Read previewThe Democratic National Committee is spending nearly $2 million in additional targeted state investments to boost down-ballot candidates and fund critical voter registration efforts ahead of November. In South Dakota, national Democrats are investing $70,000 in a critical voter registration program to boost turnout among Native Americans. The DNC is also investing additional money for state parties in Colorado, Kansas, Maryland, Minnesota, Nebraska, New Mexico, Texas, Utah, and Washington State. AdvertisementSome of the key down-ballot races the national party will target with the funding are the Maryland Senate contest between Democrat Angela Alsobrooks and former GOP Gov. In Texas, the national party will spend an additional $45,000 on organizing efforts to boost voter registration before the fall.

Persons: —, Joe Biden, Jaime Harrison, Donald Trump, Harrison, Angela Alsobrooks, Larry Hogan, Gabe Vasquez, Yvette Herrell, Colin Allred's, Ted Cruz, The Trump Organizations: Service, Democratic National Committee, Business, Republicans, DNC, Indiana Democrats, Washington State, Maryland Senate, GOP Gov, New, Congressional, Democratic, GOP, Republican National Committee, RNC Locations: Indiana, South Dakota, Colorado , Kansas , Maryland, Minnesota , Nebraska, New Mexico , Texas , Utah, Maryland, New Mexico, In Texas, Texas, Manhattan, Montana and Ohio

☆ US solar producers could finally have a fighting chance as tariffs kick in on cheaper imports from Asia
▼ + stars: | 2024-06-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

AdvertisementTariffs are finally in play on cheap solar imports from Asia after a two-year moratorium on the restrictions expired on Thursday. In 2023, the Department of Commerce determined that Chinese solar was making its way into the US duty-free, despite tariffs on imports from the country. But this gave way to a flood of cheap imports, causing solar prices to crater last year. Meanwhile, solar shipments from Southeast Asian producers have not slowed, and accounted for 87.5% of US module imports in the first quarter, S&P Global said. The tariffs could eventually bring upside for US producers, and Carr indicates that a 25%-30% price correction for solar modules could materialize.

Persons: —, Mike Carr, Carr, David Feldman Organizations: Service, Solar Energy Manufacturers of America, Department of Commerce, P Global, National Renewable Energy Laboratory, Reuters, Commerce Department Locations: Southeast Asia, Asia, China

☆ What's the best way to determine whether to invest in a company after its IPO?
▼ + stars: | 2024-06-09 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The timeline between filing the form and the actual IPO ranges, but it usually happens between several months and a year. If the float represents a very low share of total shares outstanding, it means more potential volatility in the stock. The smaller the IPO, or lower the float, the stronger the likelihood of a big swing post-lockup. If we are seeking to determine intrinsic value, the lockup period shouldn't impact our decision on whether the stock is a buy or not. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, — Tom, they've, Jim, Brendan Mcdermid Organizations: Securities and Exchange Commission, CNBC, Traders, Rubrik, Microsoft, New York Stock Exchange Locations: New York, New York City, U.S

☆ Buy these stocks with earnings momentum as market trades at all-time high
▼ + stars: | 2024-06-07 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Some stocks have forward earnings momentum that investors don't want to overlook, according to Liberum. He noted that companies with this momentum outperformed counterparts by 0.2% over the past month. Earnings momentum can be a good sign for a company as it tends to align with growth in revenue, improving margins or cost reductions, or some combination of these factors. Klement noted that earnings per share momentum has a "very chequered past" in the U.S. market. This also comes as the broader market has traded near all-time highs , forcing traders to look harder for individual stocks that have more room to run.

Persons: Joachim Klement, Klement, Nvidia, what's, Motors, LSEG, Tim Rokossa Organizations: Nvidia, Wall, LSEG, Amazon, Meta, Netflix, General Motors, Deutsche Bank, Motors, Ford Locations: U.S, Europe

☆ Nvidia is 'really pushing the pace,' Tema ETFs CIO says
▼ + stars: | 2024-06-07 | 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 EmailNvidia is 'really pushing the pace,' Tema ETFs CIO saysYuri Khodjamirian, chief investment officer of Tema ETFs, discusses the investment outlook for Nvidia, shortly after the chipmaking behemoth surpassed Apple as the world’s second-most valuable public company.

Persons: Yuri Khodjamirian Organizations: Nvidia, Apple Locations: Tema

☆ Renewable energy will be the predominant power source for data centers, Nextracker CEO says
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The solar panels are part of the renewable energy sources that power Apple's European data center in Viborg. "There'll be some gas, but we believe based especially on the data published by the DOE, the predominant energy source for these data centers is going to be renewable energy," Shugar told CNBC in an interview Thursday. Whereas older data centers may have been 100 to 200 megawatts in size, some of the "monster data centers" today may be as big as 1,000 megawatts, Shugar said. Microsoft, for example, recently signed a massive renewable energy deal with Brookfield Asset Management. The companies described the agreement as the largest renewable energy deal signed between two corporate partners to date.

Persons: Christoph Dernbach, Dan Shugar, Lawrence, Shugar, Goldman Sachs, Goldman Organizations: Getty, Big Tech, Wall Street, Lawrence Berkeley National Laboratory, Department of Energy, U.S, DOE, CNBC, Goldman, Microsoft, Brookfield Asset Management Locations: Hanstholm, Denmark, Viborg, Nextracker, California

☆ Buy these stocks where AI is becoming core to the investment thesis, Morgan Stanley says
▼ + stars: | 2024-06-07 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Buying stocks with a rising exposure to artificial intelligence could lead to outperformance later this year, according to Morgan Stanley. But for investors who have missed out on the AI trade, Morgan Stanley says it's not too late. In a recent note, a team of eight Morgan Stanley strategists led by Edward Stanley highlighted a group of stocks where artificial intelligence is beginning to play a bigger role in their business, which they called "the enablers." "We believe this strategy of picking stocks where AI materiality is increasing will continue to work for investors for the remainder of 2024," Morgan Stanley wrote. Earlier this week, both Morgan Stanley and Goldman Sachs reiterated buy ratings on First Solar.

Persons: outperformance, Morgan Stanley, Jensen, it's, Edward Stanley, enablers, Morgan, FactSet, Goldman Sachs, Bernstein, Stacy Rasgon, Melius, Raymond James, Josh Beck, Michael Bloom Organizations: Nvidia, Broadcom, Bernstein Research, JPMorgan, Facebook Locations: Thursday's

☆ Final Trades: Amazon, Goldman Sachs, AbbVie and IQVIA Holdings
▼ + stars: | 2024-06-06 | 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 EmailFinal Trades: Amazon, Goldman Sachs, AbbVie and IQVIA HoldingsThe Investment Committee give you their top stocks to watch for the second half.

Persons: Goldman Sachs Organizations: IQVIA Holdings, Investment

☆ Flying taxis are closer than ever to reality. The booming industry needs to overcome infrastructure hurdles.
▼ + stars: | 2024-06-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: +9 min

One expert said eVTOLs fly at low altitudes and could create airspace and security challenges. The US's first electric vertical-takeoff and -landing aircraft are expected to fly commercial passengers as soon as 2025. It still needs further approvals to fly for airlines like United, but the latest certificate puts it one step closer. Archer's Midnight aircraft are typically shorter range, with the Midnight flying up to 100 miles on one charge. Joby plans to use the four urban vertiports as a citywide commercial eVTOL air link around Dubai.

Persons: eVTOLs, —, Archer, Bryan Bernhard, Bernhard, Archer's, Pete Syme, Henry Harteveldt, Joby, Rani Plaut, Harteveldt, Bernard, Archer Aviation's, Archer Aviation Bernhard Organizations: Infrastructure, Service, Royal Aeronautical Society, American Airlines, United Airlines, Virgin Atlantic Airways, US Air Force, JPMorgan, Newark Liberty International, O'Hare International, Archer, Midnight, Joby Aviation, FAA, NASA, Joby, Air, Delta Air Lines, Federal Aviation, Archer Aviation Locations: Manhattan, New Jersey, Chicago's, Henry, Dubai, Japan, New York City, San Francisco, Washington, London, Paris

OpenAI CEO Sam Altman (L) speaks with Microsoft Chief Technology Officer and Executive VP of Artificial Intelligence Kevin Scott during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. The Federal Trade Commission and the Justice Department are set to open antitrust investigations into Microsoft , OpenAI and Nvidia , examining the powerful companies' influence on the artificial intelligence industry, a source familiar confirmed to CNBC. The FTC will take the lead on looking into Microsoft and OpenAI, while the DOJ will focus on Nvidia, and the investigations will focus on the companies' conduct, rather than mergers and acquisitions, according to the source. The news also follows the FTC's January decision to conduct an extensive study on AI industry heavyweights, including Amazon , Alphabet , Microsoft, Anthropic and OpenAI. Microsoft and OpenAI did not immediately respond to requests for comment.

Persons: Sam Altman, Kevin Scott, Anthropic, Claude chatbots, that's, Lina Khan, Khan, OpenAI, — CNBC's Eamon Javers Organizations: Microsoft Chief Technology, Artificial, Microsoft, Federal Trade Commission, Justice Department, Nvidia, CNBC, FTC, DOJ, New York Times, Google, Meta Locations: Redmond , Washington

☆ Millennium org chart: The 47 executives behind Izzy Englander's $64 billion hedge-fund behemoth
▼ + stars: | 2024-06-05 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

A decade ago, Millennium Management managed $21.1 billion and had 18 senior people — all a part of the executive committee — listed on its website. Now the $64 billion multistrategy manager has 47 names on its leadership page split among divisions like the relatively new Office of the CIO. Executive teams are often just a firm's founder and a few trusted lieutenants. Many departures from the firm's top level have been executives launching their own funds or joining Millennium colleagues starting their own funds. Michael Gelband and Hyung Lee, who once ran fixed income and equities, respectively, brought the business-development pro Peter Hornick and the risk executive Dev Joneja with them when they launched ExodusPoint.

Persons: —, Izzy Englander, hasn't, Englander, Bobby Jain, Ajay Nagpal, Michael Chung, Peter Santoro, Izzy, Jain, Stephen Haratunian, Michael Gelband, Hyung Lee, Peter Hornick, Dev Joneja, Kurt Baker, Jonathan Xiong Organizations: Millennium Management, Business, Fidelity, Bloomberg, Citadel, Millennium Locations: BlackRock, New York, Asia

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