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☆ China would love a domestic Nvidia rival — but that's proving quite the challenge
▼ + stars: | 2024-09-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The U.S. government has restricted the export of Nvidia's most advanced chips to China since 2022, with restrictions tightening last year. "These companies have made notable progress in developing AI chips tailored to specific applications (ASICs)," Wei Sun, a senior analyst at Counterpoint Research, told CNBC. China's key challengesThe flags of China and the USA are being displayed on a smartphone, with an NVIDIA chip visible in the background. Huawei leading the packTriolo identified Huawei as one of the leaders in China with its Ascend series of data center processors. In its annual report earlier this year, Nvidia explicitly identified Huawei, among other companies, as a competitor in areas such as chips, software for AI and networking products.

Persons: Nvidia's, China's, Wei Sun, Paul Triolo, Albright Stonebridge, SMIC, TSMC, Triolo, Chip IPOs Organizations: Nvidia, CNBC, Huawei, Alibaba, Baidu, Technology, Counterpoint Research, NVIDIA, Nurphoto, Wall Locations: Beijing, wean, China, U.S, USA, SMIC

☆ Don't let Abbott Labs' litigation overhang keep you out of the stock
▼ + stars: | 2024-09-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer has been debating swapping Morgan Stanley for Goldman Sachs , which he argued is a "cheaper and better" bank option. 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, Morgan Stanley, Goldman Sachs, Jim, Lisa Su, Su, Piper Sandler, Abbott, Stocks, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Dow, Nvidia, Micro Devices, Micro, AMD's, Abbott Labs, Darden, AMD Locations: Turin

☆ Tesla, Nvidia lead tech-heavy Nasdaq to one of best days of 2024 after Fed rate cut
▼ + stars: | 2024-09-19 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Nvidia CEO Jensen Huang presents the Nvidia Blackwell platform at an event ahead of the COMPUTEX Forum, in Taipei, Taiwan, on June 2, 2024. Led by a 7.4% gain in shares of Tesla and a 4% jump in Nvidia , the Nasdaq rose 2.5% on Thursday, its fourth-sharpest rally of 2024. Nvidia, whose processors are powering the generative AI boom and services like OpenAI's ChatGPT, gained 4% on Thursday to $117.87. Su said AI is going to make its way into "all aspects of our lives," including education and drug development. Among the other top tech companies, Apple and Meta also closed with big gains, each rising almost 4%.

Persons: Jensen Huang, Nvidia Blackwell, it's, they're, Lisa Su, Jim Cramer, Su, Tesla Organizations: Nvidia, COMPUTEX, Investors, Federal Reserve, Tesla, Nasdaq, Federal, Market, Microsoft, Oracle, Devices, Broadcom, AMD, Apple, Meta Locations: Taipei, Taiwan

☆ 'This party is going to continue': Nvidia and a $1 trillion AI boom will boost tech stocks, Dan Ives says
▼ + stars: | 2024-09-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Worries about whether artificial intelligence investments will pay off may have rocked markets recently, but Wedbush Securities tech analyst Dan Ives says the tech boom is set to continue. Nvidia shares in particular were hit in recent weeks , before rebounding last week and lifting other tech names as well. Nvidia is set to continue driving tech higher, Ives told CNBC's " Street Signs Asia " on Monday. "Everything we're seeing from … Nvidia … this party is going to continue … for the next six to eight quarters, because we're actually seeing demand accelerating," he said. Ives estimated that AI capital expenditure is set to reach around $1 trillion.

Persons: Dan Ives, Ives, CNBC's, we're Organizations: Wedbush Securities, Nvidia, Microsoft Locations: U.S

☆ Stocks jump Thursday after Federal Reserve’s jumbo-sized rate cut
▼ + stars: | 2024-09-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Stocks jumped Thursday morning as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. Tech stocks surged: Nvidia shares popped 4.8%, Tesla shares gained 5.4%, Meta Platforms shares rose 3.5% and Apple shares climbed 3.5%. The Fed on Wednesday cut rates by half a point, marking its first rate cut since the onset of the Covid pandemic and bringing rates down from a 23-year high. A large rate cut can be a double-edged sword for the economy. The Fed faced pressure to cut rates in July but held steady instead.

Persons: New York CNN — Stocks, Tesla, Jerome Powell, ”, Ronald Temple, Powell Organizations: New, New York CNN —, Dow, Nasdaq, Tech, Nvidia, Meta, Apple, Fed, Lazard Locations: New York, August’s

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Apple, Nio, DoorDash, Robinhood, Alphabet, Micron & more
▼ + stars: | 2024-09-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight The firm said iPhone 16 demand may not be as bad as feared after comments from the T-Mobile CEO. Morgan Stanley reiterates Nio as overweight Morgan Stanley said it's bullish on the EV company as Nio unveils its latest mid-sized family model, the L60. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's concerned about the company's robotaxi event but that it's standing by the stock. Morgan Stanley downgrades Elanco to equal weight from overweight Morgan Stanley said it "lacks conviction" in shares of the pet biopharma company. "We are initiating on Coursera (COUR) with a Buy rating and a PO of $11 (44% upside potential).

Persons: Morgan Stanley, Apple, TMUS, Piper Sandler, Robinhood, Piper, KeyBanc, Redburn, Mizuho, Raymond James, Nio, it's bullish, TD Cowen, Cowen, Tesla, it's, Hertz, Wells, Morgan Stanley downgrades Elanco, rideshare Organizations: Mobile, Apple Intelligence, JPMorgan, Gas Sciences, Kodiak Gas Services, Talos Energy, Northern Oil, Nio, Micron, Barclays, UW, Laboratories, Abbott Laboratories, Outfront Media, " Bank of America Locations: Kodiak

☆ Jensen Huang thinks we're all going to have our own R2-D2 or C-3PO robots follow us around
▼ + stars: | 2024-09-19 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Nvidia CEO Jensen Huang predicts a future with personal robots like R2-D2 and C-3PO from Star Wars. Huang referenced the droid duo during an appearance at T-Mobile's Capital Markets Day. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia chief Jensen Huang seems to be excited about the future of robotics. During an appearance at T-Mobile's Capital Markets Day on Wednesday, Huang made bold predictions about the future, referencing robots from the Star Wars movie franchise.

Persons: Jensen Huang, Huang, — Organizations: Nvidia, Star Wars, Mobile's, Service, Business

☆ The Fed has poured rocket fuel on the red-hot AI trade
▼ + stars: | 2024-09-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AI stocks surged after the Federal Reserve's 50 basis point rate cut. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The tech-heavy Nasdaq 100 soared nearly 3% on Thursday, while the underlying AI trade saw even bigger gains. Investors in the stock market's AI trade can thank Fed chairman Jerome Powell for Thursday's risk-on surge in tech, according to Wedbush analyst Dan Ives. AdvertisementIves said that while the AI trade has mainly been focused on Nvidia and Microsoft, other companies are starting to join in on the fun.

Persons: Dan Ives, —, Jerome Powell, Ives Organizations: Federal, Nasdaq, Nvidia, Broadcom, Service, Federal Reserve, Investors, Big Tech, Microsoft, Oracle, Dell, IBM, APple Locations: Asia

☆ Stocks making the biggest moves premarket: Darden Restaurants, Nvidia, DoorDash, Coursera and more
▼ + stars: | 2024-09-19 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Darden Restaurants — Shares advanced nearly 11% after the restaurant operator announced a multiyear partnership with Uber for on-demand delivery later this year. The company reported weaker-than-expected quarterly earnings and revenue, however, as its sales weakened at Olive Garden and its fine dining restaurants. DoorDash — The food delivery stock rose more than 3% after an upgrade to buy from neutral at BTIG. Alibaba – Shares rose more than 4% after the Chinese e-commerce company launched more than 100 open-source artificial intelligence models and a text-to-video tool. FedEx — Shares rose more than 1% ahead of the shipping giant's first-quarter earnings report due after the bell.

Persons: Uber, Jefferies, chipmakers, FactSet, Alibaba, Max, Stocks, bitcoin, — CNBC's Sean Conlon, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Theobald Organizations: Darden, Olive, NextEra Energy, Nvidia, Arm Holdings, Micron, Micron Technology, FedEx —

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Meta, Marriott, Starbucks, Roku & more
▼ + stars: | 2024-09-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Stifel initiates Penumbra as buy Stifel said it's bullish on shares of the medical device company. Bank of America reiterates FedEx as buy Bank of America lowered its price target to $345 per share from $347 but said it's bullish heading into earnings next week. " Bank of America reiterates TJX Companies, Burlington and Ross as buy Bank of America said the off-price retailers are best positioned for younger generations. Bank of America reiterates Starbucks as buy The firm said it's standing by shares of the coffee giant. Bank of America reiterates Alphabet, Meta, Amazon and Uber as buy Bank of America said the internet tech companies are the best way for "more defensive positioning."

Persons: Stifel, it's, Bernstein, Apple, Morgan Stanley, Tesla, BTIG, JPMorgan, Wells, Wolfe, Ross, ROST, Goldman Sachs, Goldman, Needham, Uber, William Blair Organizations: PEN, HSBC, KKR, Co, Apple, Bank of America, FedEx, GE Healthcare, UBS, Talen Energy, JPMorgan, Civitas Resources, Micron, MU, Barclays, TJX Companies, BURL, Marriott, Computer, Guggenheim, Sirius XM, " Bank of America, Google, Nvidia, Broadcom Locations: China, Burlington, InfiniBand

☆ Google wins challenge against $1.7 billion EU antitrust fine
▼ + stars: | 2024-09-18 | by ( ) edition.cnn.com time to read: +2 min

Google won a legal challenge Wednesday against a €1.49 billion ($1.66 billion) antitrust fine from the European Union, while chipmaker Qualcomm failed to repeal a penalty. She scored two major wins last week: against Google in a separate case and against Apple’s tax deal with Irish authorities. The AdSense fine, one of a trio of fines that have cost Google a total of €8.25 billion ($9.18 billion), was triggered by a complaint from Microsoft in 2010. In Qualcomm’s case, the US chipmaker only managed to convince the General Court to trim its EU antitrust fine to €238.7 million from €242 million. Qualcomm, which can appeal to the European Court of Justice on points of law, did not immediately respond to a request for comment.

Persons: Margrethe Vestager Organizations: Google, European Union, Qualcomm, Big Tech, Irish, European Commission, European Court of Justice, EU, European Court, Microsoft, Nvidia, The

☆ Buy both Salesforce and Nvidia are buys, their roles are often misunderstood, says Jim Cramer
▼ + stars: | 2024-09-18 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Buy both Salesforce and Nvidia are buys, their roles are often misunderstood, says Jim Cramer'Mad Money' host Jim Cramer looks at AI players Salesforce and Nvidia.

Persons: Jim Cramer Organizations: Nvidia

☆ Forget Nvidia? These 2 little-known chip stocks have over 100% upside, Jefferies says
▼ + stars: | 2024-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, investment bank Jefferies is drawing attention to two lesser-known chip stocks that it believes could rise by more than 100%: Aixtron and Ams OSRAM . Looking ahead, analysts at Jefferies pointed to the ongoing recovery in the semiconductor industry, with global chip sales growth accelerating to 18.7% year-over-year in July. Jefferies expects shares of Aixtron to rise by 115% to 35 euros ($38.80) a share over the next 12 months. The stock is also traded in the U.S. AIXXF 1Y line Ams OSRAM Ams OSRAM , an Austrian-German semiconductor company, recently completed the issuance of 200 million euros ($222.73 million) in senior notes, yielding 10.5% in coupon payments to replace other short-term debt due in 2024. The analysts expect shares of Ams OSRAM, listed on the Swiss stock exchange, to rise 179% over the next 12 months to 2.4 Swiss francs ($2.83).

Persons: TSMC, Jensen Huang, Blackwell, Goldman Sachs, Huang, Jefferies, Janardan Menon, Infineon, Aixtron Organizations: Nvidia, ASML, Jefferies, Ams OSRAM, The SOX Semiconductor, Nvidia's, Infineon, IFX, HVP, Ams Locations: Germany, Infineon, Aixtron, U.S, Austrian

☆ T-Mobile CEO says his company is selling the iPhone 16 'at a greater rate' than last year's model
▼ + stars: | 2024-09-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

In a Wednesday interview with CNBC's Jim Cramer, T-Mobile CEO Mike Sievert said his company was seeing more sales of the iPhone 16 than last year's series of the smartphones. "Not only good, but better than last year, and people are buying Pros, they're buying Maxs, so they're buying up the food chain, and they're buying at a greater rate than last year." Apple is set to release the iPhone16 in stores on Friday, widely touted for its new artificial intelligence capabilities. But according to Sievert, the iPhone16 is in demand, although the delay may lengthen the buying cycle. Sievert also reviewed announcements the company made at a conference it held on Wednesday.

Persons: CNBC's Jim Cramer, Mike Sievert, Sievert, Siebert, it's, we're Organizations: Mobile, Apple, Nvidia, Nokia

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ Nvidia vs. Alphabet: Fund manager reveals which to hold, and which to sell
▼ + stars: | 2024-09-18 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Google-parent Alphabet has long been an investor favorite among tech stocks, but one portfolio manager says he's now steering clear. Shares in Alphabet are up around 13% year-to-date and trade around 20.6 times forward earnings, according to FactSet data. 'Core investments' Beyond Alphabet, Cvetanovski remains bullish on other tech stocks, naming Nvidia , Vertiv , ASML , Taiwan Semiconductor Manufacturing Co and Schneider Electric as his "core investments." Nvidia is trading at over 41 times forward earnings, according to FactSet data. Analysts' average price target is $149.49, giving it 28% potential upside, FactSet data shows.

Persons: he's, We've, SearchGPT, Jordan, OpenAI, Cvetanovski, we've, — CNBC's Jennifer Elias Organizations: Google, Microsoft, Pella Funds, Apple, Nvidia, Taiwan Semiconductor Manufacturing Co, Schneider Electric Locations: Sydney, Pella, Cvetanovski, ASML

☆ AMD CEO talks competition with Nvidia: 'there’s no one size fits all in computing'
▼ + stars: | 2024-09-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

When CNBC's Jim Cramer asked AMD CEO Lisa Su about competition with artificial intelligence powerhouse Nvidia , she said there was room for more than one major player in the red-hot semiconductor industry. "The way to think about it is, there's no one size fits all in computing," she said. Both AMD and Nvidia design semiconductor chips essential for the new generative AI technology everyone in the enterprise is clamoring for. To Su, the "technology ecosystem" works well when there's competition and partnership, saying there should be areas where rivals work together and where they compete. Su also discussed the future of AI, saying the world is just beginning to recognize what AI can do.

Persons: Jim Cramer, Lisa Su, Su, It's Organizations: Nvidia, AMD, Intel, Big Tech

☆ Where the tech trade could head now that the Fed is cutting
▼ + stars: | 2024-09-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Markets are gearing up for a long-awaited rate cut from the central bank Wednesday after more than two years of aggressive hiking to stem the spread of sticky inflation. Apple has been another big winner following a rate cut, rising a median of 16.2% in the past. To be sure, not every technology stock is destined for upside in the face of a cutting cycle. The stock has fallen a median of nearly 14% in the three months following an initial cut. Other potential losers following a rate cut include Analog Devices , Teradyne and IBM .

Persons: bode Organizations: Federal, Nasdaq, CNBC, Digital, Apple, Apple Intelligence, Nvidia, Micron Technology, Micron, Devices, IBM

☆ Jim Cramer says Salesforce's collaboration with Nvidia should not be overlooked
▼ + stars: | 2024-09-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer urged people to be patient once the Fed's decision arrives at 2 p.m. 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, Stocks, Jerome Powell's, Jim, Salesforce, Agentforce, Mark Benioff, Brian Niccol, General Mills, Jim Cramer's Organizations: CNBC, Nvidia, Bank of America, Starbucks, VF Corp, Resmed, Marriott International, Alaska Air Locations: China

☆ Cooling needs and more: Jefferies names global stocks to buy driven by AI data center demand
▼ + stars: | 2024-09-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That also means that AI data centers are growing fast — as is the demand for them. That in turn is set to drive up the demand for cooling systems for data centers. We believe the demand for liquid cooling for AI data centers should sustain for the following 5-10 years, driven by continuous iteration of AI chips and rising heat dissipation requirements," Jefferies said in a Sept. 10 report. Cooling services have been said to improve power efficiency in data centers and, by extension, cost efficiency. Envicool Technology : Jefferies expects data center cooling sales in Southeast Asia to contribute one-third of such sales for the Chinese firm.

Persons: Jefferies, — CNBC's Michael Bloom Organizations: Jefferies, Stock, Schneider Electric, Technology, PSU, Nvidia Locations: China, Southeast Asia

☆ Looking for tech stocks? CIO names 3 to buy — and says Nvidia is still 'reasonably valued'
▼ + stars: | 2024-09-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Tech stocks may have had a volatile past few weeks , but one chief investment officer is still bullish. The chief investment officer believes Nvidia's stock is "reasonably valued," based on its two to three-year outlook. "We've been doing that, and we've been pretty happy with the price we've been getting," he added. Broadcom shares fell 7% in extended trading following its results announcement, but remain up close to 47.5% year-to-date. Nineteen of 33 analysts covering the stock give it a buy or overweight rating, according to FactSet data.

Persons: Jason Ware, Jensen Huang's, Ware, CNBC's, We've, we've, Oracle Corporation Ware, it's, Leswing, Jordan Novet Organizations: Microsoft, Nvidia, Oracle, Broadcom, Oracle Corporation, Apple, Tesla Locations: Albion

☆ Nvidia is in vogue — just ask the designer behind these viral GPU purses
▼ + stars: | 2024-09-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

The company and its CEO, Jensen Huang, have gained a cult-like following. The company's popularity inspired a designer to make GPU purses, which have gone viral. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In the process of turning Nvidia into a multi-trillion dollar company, CEO Jensen Huang and the company have gained star-like status and, with it, a cult following.

Persons: Jensen Huang, —, Huang Organizations: Service, Nvidia, Business Locations: memelords, Woodstock

☆ Here are Tuesday's biggest analyst calls: Nvidia, Palantir, Amazon, Shopify, Walmart, Microsoft, Palantir, Tesla & more
▼ + stars: | 2024-09-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.

Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe

☆ Elon Musk is on track to become the world’s first trillionaire very soon
▼ + stars: | 2024-09-17 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Elon Musk’s sprawling empire — spanning everything from electric vehicles and social media to space rockets and miniature brain implants — may soon make him the world’s first trillionaire. Now, Musk could become the world’s first trillionaire, a milestone that Informa Connect Academy says he’s on track to hit by 2027. The EV maker founded by Musk has become the world’s most valuable auto company, with a price tag of about $710billion. Musk owns another 303 million stock options linked to his epic and controversial compensation package, which was struck down by a judge but then revived and approved by shareholders. As Bloomberg notes, Musk owns about 42% of SpaceX, a private company valued in June at a whopping $210 billion.

Persons: New York CNN —, Informa, Jensen Huang, Huang, Gautam Adani, Musk, Tesla, ” Dan Ives, “ Musk, ” Ives, Donald Trump, Joe Biden, Biden, Kamala 🤔, ” Organizations: New, New York CNN, New York CNN — Elon, Informa Connect, Nvidia, Bloomberg, Cola, Bank of America, Boeing, Wedbush Securities, CNN Locations: New York, China, usk, wns

☆ China seeks a homegrown alternative to Nvidia — these are some of the companies to watch
▼ + stars: | 2024-09-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

This has renewed focus on China's homegrown efforts to rival Nvidia and create semiconductors that can underpin the world's second-largest economy's own AI industry. Huawei then sells these chips as a part of servers that go into data centers to train AI models. Alibaba and BaiduAlibaba and Baidu both buy Nvidia chips but they are also designing their own semiconductors for AI processes. Inference is the process that follows the training of AI models, as it refers to the actual application of AI in the real world, such as a chatbot responding to user queries. Moore ThreadsMoore Threads, founded in 2020, is developing GPUs designed to train large AI models.

Persons: Paul Triolo, Albright Stonebridge, Baidu Alibaba, Wei Sun, Moore, KUAE, ByteDance Organizations: Istock, Getty, Nvidia, CNBC, Huawei Huawei, Huawei, Wall, Alibaba, Baidu, Counterpoint Research, Biren, Technologies, China Morning, Cambricon Technologies, U.S, Sequoia, GGV Locations: China, U.S, Beijing, Washington, Shenzhen, Biren's

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