DIRS.INFO The most relevant business & tech news

☆ A peak boomer who lives on $1,100 monthly from Social Security struggles to afford food: 'I have to survive, I have no choice.'
▼ + stars: | 2024-06-23 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Read previewAngela Babin lives in a mobile home in Houma, Louisiana — about 60 miles southwest of New Orleans. She lives on her Social Security income, which she first started receiving in 2008 after she had to retire early for medical reasons. AdvertisementEven with the Social Security check and some SNAP food benefits, Babin said it's difficult to afford groceries. Like the millions of other older Americans living on a fixed Social Security income, Babin said it's difficult to get by. Are you living paycheck to paycheck or on Social Security?

Persons: —, Angela Babin, haven't, Ida, she's, Babin, hasn't Organizations: Service, Business, Social, Social Security, Security, Survey, Women, SNAP Locations: Houma , Louisiana, New Orleans, Louisiana

☆ There may not be many of them. But these Southern lesbian bars are still finding ways to thrive
▼ + stars: | 2024-06-15 | by ( Leah Asmelash | ) edition.cnn.com time to read: +14 min

While not an official tally, the Lesbian Bar Project aims to amplify and keep track of these spaces, which can register with the project. In the South, The Lipstick Lounge, Tennessee’s only bar registered with the Lesbian Bar Project, is in Nashville’s hip East End neighborhood. By the end of Burton’s trip, she found that the narrative of “dying lesbian bars” was maybe not totally accurate. “Sometimes it’s a physical shift from a lesbian bar to a bar that sometimes holds … queer or lesbian nights,” Burton said. Though the two are married, they don't classify their bar as a lesbian bar.

Persons: Sade, Tracy Chapman croon, Erin Karcher, “, Karcher, Joy Carter, ” Carter, it’s, ” Karcher, Lillian Faderman, you’re, “ We’re, ”, ” There’s, We’re, Krista Burton, Moby Dyke, —, isn’t, ” Burton, Burton, bartenders, Sue Ellen’s, Shamecca, they’ve, who’ve, ” Le’Teshia, Herz, Kimberly McKeand, CBS42, Le’Teshia, Christa Suppan, ” Suppan Organizations: CNN, Durham Performing Arts Center, Lesbian, Nucleus, Lesbian Bar, Gallup, Stonewall, Mobile Locations: Durham, Raleigh, North Carolina , Texas, Tennessee, Chicago, San Francisco, Durham , North Carolina, Georgia, Atlanta, Washington, North Carolina, New York, Seattle, America, Herz, Mobile , Alabama, Tulsa , Oklahoma, Dallas, Richmond , Virginia, Mobile, Gulf, Florida, Mississippi, ”, Virginia, Richmond

☆ Starbucks' Howard Schultz talks Steve Jobs screaming at him and wishing he'd trademarked the latte in a new podcast
▼ + stars: | 2024-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +10 min

Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.

Persons: —, Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan

CNN —AT&T’s second prolonged outage so far this year left customers irate on Tuesday, with experts criticizing the company’s response and saying the wireless company risked losing user loyalty over the issues. Because of the problem connecting to other carriers, thousands of Verizon customers also reported a service outage on Down Detector Tuesday. In a statement Tuesday, AT&T said it had resolved the outage and that calls between AT&T customers were not impacted. Tens of thousands of AT&T customers in America could not make phone calls, send texts, reach emergency services or access the internet. After two consecutive outages and a March data breach, North said AT&T needs to work to regain customer trust.

Persons: ”, Mojtaba, ” Vaezi, Karen North Organizations: CNN —, Verizon, Wireless, Laboratory, Villanova University, CNN, University of Southern, & & Locations: New York City, Chicago, Philadelphia, Dallas, Pittsburgh, Indianapolis, America, University of Southern California, Camden County , Georgia, Scranton , Pennsylvania

☆ Why the market shifted to defense, plus the lingering hangover of Dell's backlog
▼ + stars: | 2024-06-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. "We can't seem to mount any sort of rally for the likes of Club stocks Eaton and Dover . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, that's, Cramer, Jim, Dell, Brown, Forman, we'll, Jim Cramer's, Michael Dell, Kike Rincon Organizations: CNBC, Labor, Procter, Procter & Gamble, Costco, May, Services, Jim Cramer's Charitable, Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Europa Press, Getty Locations: Procter &, Costco, Eaton, Dover, CrowdStrike, Campbell Soup, L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain

☆ Shares of Dell fall 16% as AI servers are sold at 'near-zero margins'
▼ + stars: | 2024-05-31 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Shares of Dell Technologies fell more than 16% Friday after investors were discouraged by the company's lower-than-expected artificial intelligence server backlog and an estimated decline in margins. Bernstein analysts said the "principle disappointment" in Dell's results was that operating margins for its Infrastructure Solutions Group compressed year over year. Additionally, operating profits were flat compared with the same period last year, even though the company brought in around $1.7 billion in incremental AI server revenues. The analysts said this resurfaced concerns that Dell's AI servers are being sold at "near-zero margins." Bank of America analysts said Dell reported a strong quarter, and they reiterated their buy rating on the stock.

Persons: Michael Dell, Dell, FactSet, Bernstein, — CNBC's Michael Bloom, Kif Leswing Organizations: Dell Technologies, MWC, Mobile World Congress, Fira, Gran, Dell, Infrastructure Solutions, Bank of America, JPMorgan Locations: L'Hospitalet de Llobregat, Barcelona, Catalonia, Spain

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

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

☆ Dell shares fall despite growing AI server business
▼ + stars: | 2024-05-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Michael Dell, Chairman and CEO of Dell Technologies, is speaking at the Mobile World Congress 2024 in Barcelona, Spain, on February 27, 2024. Dell reported first-quarter earnings on Thursday that beat analyst estimates for earnings and sales, as the company has emerged as one of the top vendors for AI servers. When the company reported earnings in February, it reported earnings per share that were significantly higher than expectations. Dell reported $955 million in net income during the quarter, or $1.32 per diluted share, versus $578 million, or 79 cents, in the year-ago period. Dell's division including data center sales, called Infrastructure Solutions Group, saw sales rise 22% on an annual basis to $9.2 billion.

Persons: Michael Dell, Dell, FactSet, Jensen Huang Organizations: Dell Technologies, Mobile, Infrastructure Solutions, Dell, Nvidia, Solutions Locations: Barcelona, Spain

☆ A top secret meeting is kicking off in Madrid with the CEOs of Google DeepMind, Anthropic and Microsoft AI in attendance
▼ + stars: | 2024-05-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Google DeepMind co-founder and Chief Executive Officer Demis Hassabis gives a conference during the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. The CEOs of artificial intelligence heavyweights Google DeepMind, Microsoft AI, Anthropic and Mistral AI are among the elite list of business and political leaders attending a secretive meeting kicking off in Madrid, Spain, on Thursday. AI will once again dominate discussions at the annual Bilderberg Meeting after catapulting onto the agenda last year following the meteoric rise of the burgeoning technology. U.S. Deputy Treasury Secretary Wally Adeyemo, Ukrainian Foreign Minister Dmytro Kuleba and NATO Secretary General Jens Stoltenberg are also among the political figures who will attend for geopolitical discussions including on China and Russia. According to its organizers, the closed nature of the event aims to foster "informal discussions about major issues."

Persons: Demis Hassabis, Jane Fraser, Eric Schmidt, Albert Bourla, Wael Sawan, Peter Thiel, Wally Adeyemo, Dmytro Kuleba, Jens Stoltenberg Organizations: Google, Mobile World Congress, MWC, Microsoft, Mistral, Citigroup, Pfizer, NATO, Chatham House, Economic Locations: Barcelona, Madrid, Spain, Ukrainian, China, Russia, Spanish, Chatham, Davos, Switzerland

☆ AST SpaceMobile partners with Verizon, adding to AT&T coverage deal for satellite internet to phones
▼ + stars: | 2024-05-29 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Satellite-to-phones service provider AST SpaceMobile announced a partnership with Verizon on Wednesday, adding to the company's recent deal with AT&T to provide remote coverage across the United States. AST SpaceMobile is building satellites to provide broadband service to unmodified smartphones, in the nascent "direct-to-device" communications market. The company's chairman and CEO, Abel Avellan, touted AST's agreements with Verizon and AT&T as "essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity." Verizon's deal effectively includes a $100 million raise for AST, as well, in the form of $65 million in commercial service prepayments and $35 million in debt via convertible notes. The companies said that $45 million of the prepayments "are subject to certain conditions" such as needed regulatory approvals and signing of a definitive commercial agreement.

Persons: Abel Avellan, Kalapala Organizations: AST, Verizon, AT Locations: United States

☆ Samsung faces probe after two chip workers exposed to radiation, authorities say
▼ + stars: | 2024-05-29 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Samsung at the Mobile World Congress 2023 on March 2, 2023, in Barcelona, Spain. (Photo by Joan Cros/NurPhoto via Getty Images)South Korean authorities are investigating Samsung, after assessing that two workers at one of the tech giant's plants were exposed to radiation. The two patients, who are hospitalized, were showing "abnormal" symptoms of radiation exposure in their fingers, the Nuclear Safety and Security Commission in South Korea said in a Google-translated statement on Wednesday. The prospective radiation exposure incident took place at Samsung's Giheung plant, which is around 25 miles south of the South Korean capital of Seoul. The exact cause of the radiation exposure is not known at this time, with the Nuclear Safety and Security Commission carrying out an ongoing probe.

Persons: Joan Cros Organizations: Samsung, Mobile, Getty Images, Nuclear Safety, Security Commission, CNBC Locations: Barcelona, Spain, South Korea, Samsung's, Seoul

☆ China's Honor will have Google AI features, including Gemini, on its upcoming smartphones
▼ + stars: | 2024-05-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Honor will integrate generative AI experiences into its forthcoming hardware, which will be powered by Google Cloud, the company said. A spokesperson for the Chinese firm told CNBC that this would include Google's AI assistant Gemini, as well as Imagen 2, a text-to-image generation tool. Smartphone makers are attempting to bring AI features to their phones, in a bid to get users to upgrade to their latest flagship devices. The integration with Google's AI features builds on Honor already running the U.S. firm's operating system Android on its smartphones. Designing advanced generative AI features can be difficult for individual smartphone makers, so partnering with Google gives them a shortcut to the latest generative AI apps that employ the tech.

Persons: George Zhao, Gemini Organizations: CNBC, Mobile, Congress, Google, Samsung, Gemini

☆ Mobile-marketing startup Tappa raised $4.9 million to help brands build more engaging apps. Here's the pitch deck it used.
▼ + stars: | 2024-05-17 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Mobile-marketing firm Tappa wants to help brands with some of those problems by driving traffic and engagement within mobile apps. The firm is pitching a software-development kit, or SDK, that app publishers can use to create branded mobile keyboards in their apps. The branded keyboards use deep linking to drive people to specific parts of an app. These branded keyboards are opened half a million times each month, Giel said.

Persons: —, Tappa, Leo Giel, Giel Organizations: Service, Apple, Google, Mobile, Business, Alicorn Venture Partners, Real Madrid

☆ Dell surges 9% on optimism it has secured big AI server orders
▼ + stars: | 2024-05-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

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

☆ How the Israeli Air Force once destroyed over 60 enemy jets and dozens of Soviet missile systems in battle without losing a single fighter
▼ + stars: | 2024-05-11 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

The Israeli Air Force achieved an unmatched air combat victory in the 1982 Lebanon War. The battle, known as Operation Mole Cricket 19, saw over 60 enemy aircraft eliminated without a single Israeli loss. The fourth-generation Israeli jets were also made much more lethal by the AIM-9L Sidewinder missile that could be fired from any angle. This allowed Israeli jets, with targeting assistance from UAVs, to destroy the SAMs using anti-radiation missiles. A picture taken on June 28, 2016 shows an Israeli Air Force F-16 fighter jet preparing to take off at the Ramat David Air Force Base located in the Jezreel Valley, southeast of the Israeli port city of Haifa JACK GUEZ/AFP via Getty ImagesAdditionally, Israel had superior Command, Control, and Communications (C3) capabilities.

Persons: —, SAMs, Haifa JACK GUEZ, hadn't, Israel, Organizations: Israeli Air Force, Mole, Service, Palestinian Liberation Organization, Soviet Union, Soviet, Syrian Air Force, IAF, AIM, 9L, Ramat David Air Force Base, Getty, Syrian SAM, Kippur, Command, Communications, Grumman, RAND Corporation Locations: Lebanon, Beqaa, Israel, Syria, Soviet, Vietnam, Jezreel, Haifa, AFP, Syrian

☆ Stocks making the biggest moves midday: Planet Fitness, AMC, Airbnb, Roblox and more
▼ + stars: | 2024-05-09 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Arm — Shares of British chip designer fell 1% in volatile trading after the company issued revenue guidance that left investors unimpressed. Airbnb said revenue in its second quarter total $2.68 billion to $2.74 billion, while analysts were expecting $2.74 billion, according to LSEG. AppLovin — The mobile technology company soared 19% on the heels of better-than-expected first quarter earnings . Warby lost 2 cents a share, narrower than the consensus forecast of 9 cents per share from analysts surveyed by FactSet. Cheesecake Factory — Shares rallied nearly 9% after the chain's first quarter earnings beat estimates.

Persons: FactSet, Forthe, Klaviyo, Airbnb, AppLovin, AMC's financials, Duolingo, —, Warby Parker, Warby, Kate Spade, Roblox, That's, Raymond James, Ancora, Alan Shaw, Equinix, amortization, Charles Meyers, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Hakyung Kim, Tanaya Macheel, Michelle Fox, Scott Schnipper Organizations: LSEG, LSEG . Revenue, AMC Entertainment, Revenue, FactSet . Revenue, FactSet, Leadership, JPMorgan, Norfolk Southern, postmarket Locations: The Virginia

☆ Stocks making the biggest premarket moves: Planet Fitness, Warner Bros Discovery, Yeti, Airbnb and more
▼ + stars: | 2024-05-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Quarterly revenue was $248 million, versus the $249.5 million expected from analysts polled by FactSet. Klaviyo guided for second-quarter revenue of $211 million to $213 million, higher than the $210 million expected from analysts polled by LSEG. AppLovin reported earnings per share of 67 cents, versus the 57 cents expected from analysts polled by LSEG. Bumble reported earnings per share of 19 cents, versus the 7 cents expected from analysts polled by FactSet. Adjusted earnings per share were 7 cents, versus the 6 cents expected.

Persons: Revenue, Klaviyo, AppLovin, AMC's, Duolingo, LSEG . Bumble —, Bumble, Warby Parker, Warby, Roblox, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: FactSet, Warner Bros, LSEG, postmarket, Revenue, AMC, FactSet . Revenue, Wall Locations: British

☆ Stocks making the biggest moves after hours: Airbnb, Robinhood, Arm Holdings, Equinix and more
▼ + stars: | 2024-05-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in extended trading:Airbnb — The hoteling company issued disappointing forward guidance, dragging shares down 8%. Airbnb said second-quarter revenue would range between $2.68 billion and $2.74 billion, but analysts were calling for $2.74 billion, per LSEG. Robinhood reported earnings of 18 cents per share on revenue of $618 million, while analysts polled by LSEG expected 6 cents in earnings per share and $549 million in revenue. Klaviyo expects revenue in the current quarter of $211 million to $213 million, while analysts polled by LSEG expected $210 million. Second-quarter revenue guidance was also weak, ranging between $250 million and $280 million, versus analysts' estimates for $306 million.

Persons: Airbnb, Robinhood, LSEG, Equinix, FactSet, AppLovin, SolarEdge Organizations: Wall, Arm Locations: Ankara, Turkey

☆ More than 200 people with diabetes injured after software issue drained insulin pump batteries
▼ + stars: | 2024-05-08 | by ( Jamie Gumbrecht | ) edition.cnn.com time to read: +1 min

CNN —More than 200 people with diabetes were injured when their insulin pumps shut down unexpectedly due to a problem with a connected mobile app, the US Food and Drug Administration said Wednesday. Version 2.7 of the t:connect Apple iOS app – used with the t:slim X2 insulin pump with Control-IQ – has been recalled due to a software issue that causes the app to crash and relaunch. This cycle drains the pump battery, causing it to shut down sooner than expected and suspend insulin delivery. On March 26, Tandem Diabetes Care Inc. sent affected customers a device correction letter requesting that users update the mobile app to version 2.7.1 or later. Customers in the United States can contact the Tandem Diabetes Care Technical Support Team at (877) 801-6901 for more information.

Persons: Dr, Sanjay Gupta Organizations: CNN, US Food and Drug Administration, FDA, Get CNN, CNN Health, Tandem Diabetes Care Inc, Tandem Diabetes Care Locations: United States

☆ Spanish startups hit Microsoft with complaint over cloud practices
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years. Microsoft defended its cloud practices. "Microsoft provides choice and flexibility for our customers to switch to another cloud provider at no cost, and our licensing terms enable our customers and other cloud providers to run and offer Microsoft software on every cloud," a spokesperson said. "We will engage with the Spanish Startup Association to learn more about its concerns."

Persons: Carlos Mateo Organizations: Microsoft, Mobile, Amazon, Spanish Startup Association, Operating Systems, Windows, Reuters, Cloud Infrastructure Services, European Commission, Competition, Markets Locations: Barcelona, Spain, Spanish, U.S, Europe

☆ Starbucks says mornings are so busy that one in 8 mobile customers are abandoning orders
▼ + stars: | 2024-05-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The company said a mid-teens percent of mobile customers abandon their carts due to long wait times. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesNarasimhan said on the company's earnings call that nearly two-thirds of Starbucks' morning business in the US is from rewards members using the mobile app, which has yielded a remarkable insight. "In other words, customers using Mobile Order-Pay put items into their carts and sometimes chose not to complete the order, citing long wait times and product unavailability." That works out to more than one in eight mobile order customers opting not to buy a menu item they were otherwise interested in — a hefty chunk of cash left on the table for Starbucks.

Persons: —, Laxman Narasimhan, Narasimhan Organizations: Starbucks, Service, Mobile Locations: Seattle

☆ Oracle boosts its generative AI capabilities as cloud competition heats up
▼ + stars: | 2024-04-29 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

(Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)U.S. cloud infrastructure provider Oracle is boosting its generative AI capabilities as cloud competition intensifies and more companies jump into AI. Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them. The generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said. JPMorgan has said generative AI and AI could drive incremental IT spending and growth across the software landscape. "Generative AI services [are] basically a huge advantage comparing with our competition.

Persons: PAU BARRENA, ChatGPT, Rondy Ng, it's, Ng, Dan Ives, Ellison, Ives, Larry Ellison, Gartner Organizations: Mobile World Congress, MWC, Getty Images, Oracle, CNBC, Wedbush Securities, JPMorgan Locations: Barcelona, AFP, U.S

☆ Paramount CEO Bob Bakish could be out as soon as Monday as Skydance merger talks continue
▼ + stars: | 2024-04-27 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Paramount Global's board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, according to people familiar with the matter. Paramount Global reports its quarterly earnings Monday. Bakish has lost the trust of Paramount Global controlling shareholder Shari Redstone, according to people familiar with her thinking. Paramount and Skydance have been making headway on a final deal, under which Bakish would leave Paramount, CNBC reported Thursday. Skydance intends to name its CEO David Ellison to helm Paramount, according to people familiar with the matter.

Persons: Bob Bakish, Bakish, Shari, Skydance, David Ellison Organizations: Viacom Inc, Mobile, Paramount, Paramount Global, Skydance Media, Charter Communications, Skydance, CNBC Locations: Los Angeles , California, U.S

☆ Intel used to dominate the U.S. chip industry. Now it's struggling to stay relevant
▼ + stars: | 2024-04-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +16 min

David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.

Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio

☆ China's Xiaomi is selling more EVs than expected, raising hopes it can break even sooner
▼ + stars: | 2024-04-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBCBEIJING — Chinese smartphone company Xiaomi 's new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla 's Model 3 on price. For context, Tesla China sold more than 600,000 cars last year, according to the China Passenger Car Association. Li Auto had a gross margin of 23.5% in the fourth quarter last year, while Nio's gross margin was 7.5%, both up from the year-ago period. Tesla's gross margin has successively declined over the past five quarters to 17.4% in the first three months of this year.

Persons: Arjun Kharpal, undercutting Tesla, Xiaomi, Lei Jun, Li Auto, Nio, Lei Organizations: Mobile, CNBC BEIJING, Citi, China Passenger Car Association, Li, CNBC Locations: Beijing, China

Search resuls for: "The Mobile"

25 mentions found