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The startup, Read AI, closed a $21 million Series A funding round in April. Goodwater Capital led the round, with participation from existing investor Madrona Venture Group, which led the startup's $10 million seed round in 2021. David Shin, who co-founded Read AI alongside Robert Williams and Elliott Waldron, told Business Insider that the generative AI boom over the last year has supercharged what the startup can offer clients. Read AI offers multiple pricing plans, including a basic, free version for individual users as well as enterprise and enterprise plus accounts that cost $22.50 and $29.75 a month per user, respectively. Check out the 23-slide presentation Read AI used to raise $21 million in Series A funding.
Persons: David Shin, Robert Williams, Elliott Waldron, Read Organizations: Goodwater Capital, Madrona Venture Group, Business, Microsoft, Google, Read, Bloomberg Locations: Seattle
The launch of Intel 's latest artificial intelligence chip is expected to benefit three global semiconductor companies, according to Morgan Stanley. The semiconductor giant said the latest chip is twice as power-efficient and can run AI models one-and-a-half times faster than Nvidia's H100 GPU – the flagship product from the current AI chip market leader. In a research note Monday, the Wall Street bank said Taiwanese companies TSMC , Alchip , and Wistron are likely to be the biggest beneficiaries of the demand for Intel's Gaudi chips. In its note, Morgan Stanley reiterated its overweight rating on Alchip and TSMC, considering them long-term winners of AI semiconductor demand. The analysts are overweight on Wistron too, noting that Nvidia's new Blackwell GB200 AI chip will also drive immediate growth for the Taiwanese electronics manufacturer.
Persons: Morgan Stanley, Gaudi, Alchip, Wistron, Morgan Stanley's, Charlie Chan, Blackwell, — CNBC's Michael Bloom Organizations: Intel, Gaudi, Dell, Hewlett Packard Enterprise, Lenovo, Microsoft, Google Locations: United States
Read previewCity of Baltimore officials on Monday accused the owner and manager of the ship that crashed into the Francis Scott Key Bridge of allowing the vessel to set sail despite it being "clearly unseaworthy." "Reporting has indicated that, even before leaving port, alarms showing an inconsistent power supply on the Dali had sounded," the court petition reads. Authorities found that the 984-foot ship lost power as it navigated toward the bridge, causing it to lose propulsion. The crew on board broadcast a mayday call just before impact, allowing traffic police to seal access to the bridge. AdvertisementMeanwhile, President Joe Biden has said that the federal government will fund the reconstruction of the Key Bridge, and has agreed to disburse some $60 million in aid to the region.
Persons: , Francis Scott Key, Dali, Grace Ocean, Baltimore Mayor Brandon Scott, Joe Biden Organizations: Service, Synergy Marine, Business, Baltimore Mayor, Grace, Synergy, Port, Authorities, National Transportation Safety Board, FBI, Washington Post Locations: Baltimore, Maryland, Singapore, Port of Baltimore, Sri Lanka, Patapsco
A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.
Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's
He also hiked his price target to $92 from $59, suggesting shares rallying 48.3% from where they closed on Tuesday. Analyst Jessica Reif Ehrlich raised her price target to $370 from $315, suggesting 22% upside from Tuesday's close. — Hakyung Kim 6:04 a.m.: Citi raises price target on Amazon Amazon is becoming a more profitable organization, according to Citi. The price target increase comes on the heels of Amazon's new grocery delivery subscription launch. He cited increased operating income projections amid strong top-line trends for his price target increase.
Persons: Tesla, Rob Sanderson, Sanderson, Forrest Li, Hakyung Kim, Jessica Reif Ehrlich, — Hakyung Kim, Ronald Josey, Josey, GenAI, Kim, Goldman Sachs, Mark Delaney, Delaney, Goldman, Joseph Spak, Spak, TSLA, Wells Fargo's Colin Langan, Langan, James Lee, Lee, Fred Imbert Organizations: CNBC, Mizuho, Bank of America, Spotify Bank of America, Spotify, Citi, Amazon Web Services, Revenue, UBS, Summer
It was ’90s basketball at its best.”The Mavericks were led by 32 points from Luka Dončić, who added yet another playoff win against the Clippers to his résumé, along with six rebounds and nine assists. The Clippers closed the gap again, but Dončić hit a clutch, step-back three-pointer over James Harden with 1:26 left in the game to extend Dallas’ lead to 90-81. The heat of the moment caused Dončić to turn to the Clippers crowd and roar in triumph. Keith Birmingham/MediaNews Group/Pasadena Star-News/Getty Images“Just staying poised and understanding that mistakes are going to happen, and it’s a playoff game,” he told the Mavs broadcast. Pacers level series against Bucks, Timberwolves extend lead over the SunsElsewhere, the Indiana Pacers leveled their first-round playoff series against the Milwaukee Bucks with an impressive 125-108 Game 2 road victory.
Persons: Jason Kidd, , ” Kidd, Luka Dončić, , Irving, Dončić, James Harden, ” Dončić, ” Irving, Kyrie Irving, Keith Birmingham, , “ It’s, we’ve, Harden, Paul George, Kawhi Leonard, ” Leonard, Pascal Siakam, Giannis Antetokounmpo, Damian Lillard, Jaden McDaniels, McDaniels –, Anthony Edwards, Devin Booker, Kevin Durant Organizations: CNN, The Dallas Mavericks, Los Angeles Clippers, Dallas, Mavericks, Luka, Clippers, MediaNews, Pasadena Star, Teams, ESPN, , Pacers, Bucks, Timberwolves, Suns, Indiana Pacers, Milwaukee Bucks, Minnesota Timberwolves, Phoenix Suns Locations: Dallas
We pay $80 every other week for pet insurance that comes with a 70% reimbursement. One x-ray, three prescriptions, and $500 later, I was never more relieved that we had pet insurance. We get 70% reimbursement after a $250 deductibleWe pay around $80 every other week for our dog's pet insurance policy. His policy is through Nationwide Pet Insurance (yep, they have pet insurance, too!) Being able to say to them, "No worries, we have pet insurance so most of it will be covered"?
Persons: , we've, It's, he's, That's, He's Organizations: Service, Nationwide Pet Insurance, French bulldogs, English bulldogs, bulldogs Locations: Boston, PetPlan
Meta Platforms is set to report first-quarter earnings after Wednesday's closing bell, the latest in a salvo of releases from technology names. The "Magnificent Seven" stock is currently trading about 6% below an all-time high it hit earlier in April as traders get ready for the latest news. Here's what investors should know ahead of the release: How the stock moved last time Meta's fourth-quarter earnings, released in early February, prompted a major rally. As a social media platform operator, they'll look at the total number of active users on a daily basis and minutes per active user. Average revenue per user is another important metric, as it can show how much each active user contributes in terms of profit.
Persons: Meta, LSEG, Rohit Kulkarni, Roth, Mark Zuckerberg, Kulkarni Organizations: Nasdaq, Meta, Investment, LSEG
Tesla stock surged as much as 14% on Wednesday after the company reported 1st-quarter earnings. While the company badly missed analyst estimates, Elon Musk did commit to an affordable car. "We're updating our future vehicle lineup to accelerate the launch of our low-cost vehicles," Tesla said. So, I mean, if somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company," Musk said. While Ives remained bullish on Tesla stock, he did lower his price target to $275 from $300.
Persons: Elon Musk, Tesla, , Lars Moravy, Musk, robotaxi, it's, Dan Ives, Ives Organizations: Elon, Service, Tesla, Reuters, Wall Street
The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.
Persons: They're, , Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West
Airbnb – The vacation property rental platform added nearly 2% following an upgrade by Mizuho to buy from neutral. Visa — Shares of the payment company rose more than 2% after stronger than expected results for the second fiscal quarter. Texas Instruments posted $1.20 per share on $3.66 billion in revenue, beating analysts' projections of $1.07 and $3.61 billion, respectively, per LSEG. Mattel saw $810 million in revenue during the quarterly period, which was less than the consensus estimate of $832 million. Enphase said to expect second-quarter revenue between $290 million and $330 million, under the consensus forecast of $349 million.
Persons: Mizuho, Elon Musk, Tesla, LSEG, , Enphase, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: Boeing —, Boeing, Mizuho, Summer Olympics, Visa —, Visa, Revenue, Texas, Sea, Capital, Mattel, LSEG, Enphase Energy
With about four games left in the season, it became mathematically clear to the players and coaches of the Queens Park Ladies, an under-12 girls’ soccer team in Bournemouth, England, that they would win their league. But rather than resting on their laurels and enjoying their guaranteed victory, they decided to take it a step further: What if they not only won their league, but also did so without losing a match? If that wasn’t enough, they would be pulling it off as the only girls’ team in a boys’ league. The Queens Park Ladies did not lose any of their 22 matches, earning them the elusive nickname “Invincibles,” one that conjures the memory of Arsenal’s undefeated 2003-04 Premier League season under Arsène Wenger. “I just thought it was incredible that we’ve gone so far to beat some boys that are probably more physical than us,” Millie Ray, 11, a midfielder, said.
Persons: Arsène Wenger, , Millie Ray, Organizations: Queens Park Ladies, soccer, Queens Park, Premier League Locations: Bournemouth, England
In this article FL Follow your favorite stocks CREATE FREE ACCOUNTA Foot Locker, Inc. store. Even the Striper uniform, the iconic black and white striped outfit worn by Foot Locker's store associates, is getting a refresh, Frank Bracken, Foot Locker's chief commercial officer, told CNBC in an interview. A Foot Locker, Inc. store. A Foot Locker, Inc. store. Courtesy of: Foot Locker, Inc.An overall view of a Foot Locker, Inc. store.
Persons: Foot Locker's, Frank Bracken, Foot, Bracken, Mary Dillon, Dillon, She's, Foot Locker, Locker Organizations: Inc, CNBC, Summer, Nike, Adidas Locations: New Jersey, Manhattan, Wayne, New York City, Paris, Melbourne, Delhi
Some companies that are about to report earnings could see a slide in their share prices. With the busiest week of earnings season underway, investors are certainly in for a hectic time. Nearly a third of the companies in the S & P 500 are scheduled to report their earnings this week. CNBC Pro screened the S & P 500 for companies that could see their stocks tumble after earnings. Industrial technology company Rockwell Automation has had its earnings revised downward 29 times in the past three months.
Persons: Myers Squibb, Steve Chesney Organizations: CNBC Pro, Myers, Bristol, Myers Squibb, Rockwell Automation, Gilead Sciences Locations: Bristol, Biopharmaceutical, Gilead
That rate of rapid wealth growth has never happened before in the data series' history, per the analysis, and it comes after wealth growth remained relatively stagnant for young Americans pre-pandemic. This data, as the authors of the CAP analysis note, suggests that wealth gains weren't just reserved for the top-earning millennials since both median and average wealth grew. "This suggests that the strong wealth growth for younger Americans is broad-based and not the result of strong growth of a handful of wealthy younger households," the authors write. As that report notes, financial assets were a major component of younger Americans' wealth growing. "We need to keep this robust labor market going and Congress needs to set its sights on younger Americans' greatest affordability challenge: housing," Duke said.
Persons: , Gen X, Brendan Duke, Christian Weller, X, millennials, Duke, BI's Noah Sheidlower Organizations: Service, Center for American Progress, Federal, Business, Boomers, Federal Reserve's Survey, Consumer Finances, millennials, Liberty Street, Federal Reserve Bank of New Locations: millennials, Federal Reserve Bank of New York
Rep. Devin Nunes, R-Calif., ranking member of the House Intelligence Committee, speaks during an impeachment inquiry hearing in Washington, Nov. 13, 2019. Trump Media CEO Devin Nunes on Tuesday urged House Republican committee leaders to investigate possible "unlawful manipulation" of the company's stock. Trump Media, which began trading on the Nasdaq on March 26 after completing a lengthy public merger, was far and away the most expensive U.S. stock to short as of early April. The letter comes as the stock price of Trump Media, which created the social media app Truth Social and is majority-owned by former President Donald Trump, continues to trend down in volatile trading sessions. The stock dropped nearly 5% early Wednesday but turned positive before noon, trading around $33 per share.
Persons: Devin Nunes, Nunes, Patrick McHenry, Jim Jordan, Jason Smith, James Comer, Donald Trump, DJT Organizations: House Intelligence, Trump Media, Republican, GOP, Nasdaq, Financial Locations: Washington, R, Ohio, Spokespeople
However, it continues to operate a solid payments business with nearly half a billion active users each month. Over a longer period, a breakout above $68 could target the low $100s as an extended target to the upside. If we were to dive into the business, we see a payments company that focuses on delivering growth and improving margins. If PYPL traded at its industry and historical average of around 21x forward earnings, it would imply a stock price of $106 — just above our technical upside target. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: PYPL Organizations: PayPal
Greenlight Capital's David Einhorn continued to pick up new stocks in the first quarter, including Penn Entertainment , as the longtime value investor struggles to find opportunities in the volatile market. He established the stake at an average cost of $22.69 per share, but the stock has fallen to $17.44 as of Wednesday. Still, Einhorn said sports betting, if executed right, could take the shares much higher. "Were the market to credit PENN with merely 15% of DraftKings' value, that segment alone would be worth $20 per share." Q4 buyer's strike Einhorn had stopped building new stock positions at one point in the fourth quarter, saying he was on a "buyer's strike" due to worries about intensifying geopolitical risks.
Persons: Greenlight Capital's David Einhorn, Einhorn, PENN, he's, Greenlight, — CNBC's Leslie Picker Organizations: Penn Entertainment, CNBC, Barstool Sports, Cornell grad, Greenlight Capital, HP, Roivant Sciences, Liberty Global
The South has the highest concentration of states with about 50% of residents below the ALICE threshold. They're either the youngest or oldest workers in the workforce, often single parents, and full-time workers — but they're still not making ends meet. Married adults with children tend not to be ALICE, as 80% reported being above the ALICE threshold. ALICE Americans are all across the country and in both rural and urban areasALICE Americans exist everywhere from the isolated countryside of the US to the country's biggest cities. The breakdown between urban and rural ALICE is somewhat consistent — the ALICE population makes up 30% of the rural population and 28% of the urban population.
Persons: , ALICE —, ALICE, They're, they're, ALICE Americans, Gen, ALICE millennials, Xers, Stephanie Hoopes, United For ALICE, Still, Hoopes Organizations: Service, United Way's, Business, United For, ALICE, Nationwide, United Locations: America, ALICE, Florida, California, New York, Texas, Iowa
Experts say tattoos can impact hiring decisions, especially in customer-facing roles. Putnam, from California, said she went into the store to ask why she hadn't gotten the job, and the hiring manager told her she didn't have enough experience. The hiring manager also denied that her tattoos played any role in the rejection. AdvertisementAnother commenter, who said they used to be a hiring manager for the store, said: "I will tell you it's the facial piercings and tattoos." Ivy Johnson, for example, who also has many tattoos, said she had worked in corporate America as a hiring manager before starting up her apothecary business.
Persons: , Ash Putnam, Maxx, Putnam, hadn't, Putnam wasn't, TikTok, Putnam's, Ivy Johnson, Johnson, Adam Collins, isn't, Michelle Enjoli, Enjoli, Justina Raskauskiene, Rachel Pelta, Pelta Organizations: T.J, Maxx, Service, Business, Pew Research, University of Miami, Daily Locations: California, America
The world is awash in solar panels after Chinese-owned firms flooded the market with cheap exports. Companies including Qcells, First Solar, and Swift Solar on Wednesday asked the Biden administration to slap tariffs on solar cells from four countries in Southeast Asia. The US solar companies allege that Chinese-owned firms operating in Cambodia, Malaysia, Thailand, and Vietnam are illegally undercutting the market. The petition by US solar companies — known as an anti-dumping and countervailing duty case — could lead to that. The probe will help determine whether solar panels were sold in the US at prices below the cost of production.
Persons: Biden, we've, Tim Brightbill, Wiley Rein, Joe Biden, Janet Yellen, Yellen, Premier Li Qiang Organizations: Service, Companies, Wednesday, Business, Wiley, China, Industry, Commerce Department, US Commerce Department, International Trade Commission, Premier, New York Times Locations: Southeast Asia, Cambodia, Malaysia, Thailand, Vietnam, Germany, America, Massachusetts, China
Read previewInfluencers secure brand deals in many ways — some go right to the DMs of brands or even use Slack, while others rely heavily on talent managers or agents. AdvertisementNearly 55% of respondents listed social-media marketplaces as one of the three primary sources they use to secure brand deals. The data, however, does not account for the types of brand deals creators would require. For instance, some brand deals could be multi-channel sponsorships, while others could be affiliate links — which can vary in pay. Most creators said their partnerships with brands last a monthAbout 31% of creators reported that their brand deals typically last one month.
Persons: , Qianna Smith Bruneteau, We're, Smith Bruneteau, that's Organizations: Service, American Influencer Council, Business, AIC, influencer, LinkedIn
Elon Musk speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center in New York City, Nov. 29, 2023. Tesla shares surged 15% on Wednesday morning after CEO Elon Musk said the electric-vehicle company plans to begin production of new affordable EV models by early 2025. Musk's comments came during Tesla's earnings call on Tuesday after the company reported disappointing first-quarter numbers. The company previously expected to start production of the new EV models in the second half of 2025. UBS analysts on Tuesday reiterated their neutral rating of Tesla stock and lowered their price target to $147 from $160, saying they remain skeptical of the company's talk.
Persons: Elon Musk, Tesla, Musk's, Tesla's, Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, Revenue, Bank of America, UBS Locations: New York City
Others took evening walks in the city and shared the bright orange scenes on social media. A low-pressure system over northern Africa swept dust over Cyprus several times in mid-April, “darkening skies and reducing air quality,” NASA said Tuesday. Dust was expected to continue to cross the Mediterranean, impacting both Cyprus and Greece over the next several days, NASA said. People cross a snow covered railway in Helsinki, Finland, on April 23, 2024, as an unusual weather system brought trams in the city to a halt. Photos showed Helsinki residents walking through thick snow and ice, carrying umbrellas under heavy snowfall, and tall clusters of snow piled up on sidewalks, cars and scooters.
Persons: Alessandro Rampazzo, Johannes Laitila, Finavia, ” Finavia, , Antti Vigelius Organizations: CNN, NASA, Anadolu Agency, Getty, YLE, Helsinki Airport, Johannes Locations: Greece, Africa, Athens, Cyprus, Helsinki, Finland, Europe
A solar energy company and a video game maker were highlighted by analysts Tuesday. Meanwhile, JPMorgan upgraded Roblox to overweight from neutral, and its new price target implies upside of more than 35%. — Pia Singh 5:43 a.m.: KeyBanc downgrades beaten-down solar stock Sunnova Energy Heading into first-quarter earnings, KeyBanc Capital Markets is cautious on residential solar names, particularly Sunnova Energy . Analyst Sophie Karp downgraded the Texas-based residential and commercial solar energy company to sector weight from overweight and removed her price target on the stock. It also raised its price target to $48 from $41, implying a 37% rally over the next 12 months.
Persons: KeyBanc, Oppenheimer, Dwight, Rupesh Parikh, Parikh, — Pia Singh, DataDog, Andrew Nowinski, Datadog, Nowinski, Yun Kim, Kim, MDB, KeyBanc downgrades, Sophie Karp, Karp, , Cory Carpenter, Carpenter, Fred Imbert Organizations: CNBC, JPMorgan, Loop Capital, Sunnova Energy, NOVA, SolarEdge Technologies, Enphase Energy Locations: Sunnova, Parikh, Wells Fargo Wells, Texas, U.S
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