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First Solar is poised for growth as demand continues to improve with surging electricity consumption from data centers acting as a catalyst for the manufacturer, according to Goldman Sachs. The firm raised its stock price target to $268 after First Solar reported another stronger quarter, which suggests the shares could log 50% upside from Wednesday's close of $177.58. First Solar CEO Mark Widmar told analysts during the company's earnings call that he is seeing a "meaningful increase in demand expectations driven in part by data center load growth." Apple , Google, Meta , and Microsoft are committed to carbon-free energy as they hyperscale data centers, Widmar said. "We'll be ready to go as quickly as possible," Widmar told analysts.
Persons: Goldman Sachs, Brian Lee, Morgan, Mark Strouse, Strouse, Wall, Mark Widmar, Widmar, Alexander Bradley Organizations: First, Google, Microsoft
Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to power the growing demand for artificial intelligence and data centers, the companies announced on Wednesday. Brookfield will deliver 10.5 gigawatts of renewable energy for Microsoft between 2026 and 2030 in the U.S. and Europe under the agreement. The 10.5 gigawatts of renewable capacity is 3 times larger than the 3.5 gigawatts of electricity consumed by data centers in Northern Virginia, the largest data center market market in the world. A Brookfield spokesperson said the deal would lead to more than $10 billion of investment in renewable energy. The scope of the deal could increase to include additional energy capacity in the U.S. and Europe, as well as Asia, Latin America and India, the companies said.
Persons: Satya Narayana Nadella, Wells Organizations: Microsoft, Brookfield Asset Management, Brookfield, Research Locations: Manhattan, New York City, U.S, Europe, Northern Virginia, Asia, Latin America, India
Scott Lengel, a former Microsoft CTO, launched an AI-powered RV road trip planner, AdventureGenie. A couple of years later, in May 2023, Lengel launched AdventureGenie — an AI-powered RV trip planner. The biggest thing AI brings to AdventureGenie's trip planning is the customization, Lengel said. Instead of looking up a generic road trip planner that is the first hit served to everyone on Google, AdventureGenie can create itineraries that are unique to you. Lengel said new AdventureGenie users often say it saves them so much time planning their trip just by filling in their route.
Persons: Scott Lengel, , Lisa, Lengel, they'd, AdventureGenie, It's, you've, you'd Organizations: Microsoft, Service, Marriott, Business, Nashville, Google, BI Locations: Cambodia, Vietnam, India, , South Carolina, Yellowstone, Florida
Over the last two weeks, major cloud providers Amazon, Microsoft, and Alphabet have reported quarterly earnings that exceeded Wall Street's expectations. Amazon, Microsoft, and Alphabet's shares also climbed after earnings were reported, evidence that doubling down on their AI strategies seems to be paying off. Davidson Companies analyst Gil Luria told Business Insider regarding Amazon, Microsoft, and Alphabet. Microsoft Cloud generated $35.1 billion in revenue — up 23% year-over-year — that CEO Satya Nadella credits partly to investments into AI tools like Microsoft Copilot. Amazon, Microsoft, and Alphabet didn't immediately return a request for comment from Business Insider before publication.
Persons: , D.A, Gil Luria, Claude, Andy Jassy, Satya Nadella, Nadella, Ruth Porat, OpenAI's ChatGPT, Luria, doesn't, Jassy, Sundar Pichai Organizations: Service, Microsoft, Business, Davidson Companies, Amazon, Web Services, Google Cloud, Google, Gemini, Research, Capital Locations: Indonesia
Microsoft's OpenAI investment may have been prompted by concerns over Google's AI progress. In a 2019 email, a Microsoft exec said he was "very, very worried" about Google's AI capabilities. AdvertisementIn 2019, Microsoft became "very, very worried" about Google's AI capabilities, newly unearthed emails show, and that may have been what spurred it to invest in OpenAI. In one lengthy email, Microsoft's chief technology officer Kevin Scott told Satya Nadella and Bill Gates that Google's AI-powered "auto-complete in Gmail" was "getting scarily good." Related storiesIn 2019, Microsoft made an initial $1 billion investment into its now multi-billion partnership with OpenAI.
Persons: , Kevin Scott, Satya Nadella, Bill Gates, Nadella, Amy Hood, Bard, Scott, OpenAI, BERT Organizations: Microsoft, Google, Service, Department, Business, OpenAI, Bing Locations: OpenAI
Nvidia-backed startup Coreweave is based in Roseland, New Jersey, with 160 employees. CoreWeave, a cloud infrastructure startup that rents out graphics processing units to companies, said Wednesday that it has raised $1.1 billion in funding. The new investment values the company at $19 billion, up from $7 billion months ago, a person familiar with the matter said. And during its earnings call on April 25, Microsoft said the company wasn't able to meet demand for AI cloud services. For now, CoreWeave only has three regions of data center infrastructure, all in the U.S.
Organizations: Nvidia, Computer, Microsoft, CNBC, Fidelity, Lykos Global Management, Amazon, Google Locations: Roseland , New Jersey, New Jersey, Paris, U.S
New York CNN —Watch out “Connections,” LinkedIn says it’s adding a variety of games aimed at making actual connections. The Microsoft-owned platform, best known for professional networking and sharing news, is taking a page from the New York Times and adding three, free “thinking-oriented” games as a way to tap into the explosive popularity of brain-busting puzzles people are adding to their daily routine. People share articles less to push advice on people and more because “they’re trying to build meaningful relationships,” Daniel Roth, editor in chief of LinkedIn, told CNN. “We’ve seen that with the recent explosion of short games that help you.”What are the games? Ultimately, Times’ games have become a major revenue driver for the newspaper.
Persons: “ they’re, ” Daniel Roth, , “ We’ve, Minda Smiley, , Roth, Laura Lorenzetti, Smiley Organizations: New, New York CNN —, LinkedIn, Microsoft, New York Times, CNN, , Times, New York World Locations: New York, Queens,
College students are increasingly targeted by job recruitment scammers, the FTC warned. Scammers use fake listings and pose as recruiters to steal money and identities. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But they can also target a college student's identity or bank information. AdvertisementThe Wall Street Journal recently interviewed students who had encountered scammers during their job hunts.
Persons: , scammers, Murray Organizations: FTC, Service, Street, Microsoft, Murray Resources Locations: Houston
eight-newspaper-publishers-sue-openai-correction
  + stars: | 2024-04-30 | by ( ) www.cnbc.com   time to read: 1 min
This article has been updated to reflect the correct day the lawsuit against Microsoft and OpenAI was filed.
Persons: OpenAI Organizations: Microsoft
Tuesday's analyst calls focused on red-hot tech giant Nvidia, which is seen as benefitting from the release of its new Blackwell chip, the GB200. 7:02 a.m.: Deutsche Bank sees 33% upside for Live Nation on strong fundamentals Strong fundamentals could spell further upside for shares of Live Nation Entertainment , according to Deutsche Bank. Soff also applauded the company for expanding into new add-on services, including providing upselling opportunities and selling advertising on the Live Nation app. Although a potential regulatory investigation could curtail the stock, Soff doesn't believe that Live Nation stock will ultimately take much damage. 6:03 a.m.: Jefferies initiates Ralph Lauren at a buy, sees momentum with younger consumers Ralph Lauren is shaping up to be a quality growth stock, according to Jefferies.
Persons: Blackwell, Jefferies, Ralph Lauren, Benjamin Soff's, Soff, shouldn't, — Lisa Kailai Han, Airbnb, James Lee, Lee's, headwinds, Brent Thrill, Ashley Helgans, Ralph Lauren's, Helgans, Taylor Swift, Timothy Acuri, Acuri, Hopper, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, Nvidia, UBS, Deutsche Bank, Nation, Live Nation Entertainment, Mizuho, Paris, tailwinds, Paris Olympics, Chegg, Blackwell, Microsoft, Oracle Locations: Europe
JPMorgan says the recent stock rebound driven by robust earnings masks looming stagflationary risks. The soft landing narrative is challenged by the first-quarter GDP report. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe recent rally in the stock market, bolstered by a wave of upbeat earnings, is glossing over a host of risks raised by the latest economic data points, JPMorgan said this week. Jamie Dimon and other experts are sounding the alarm, saying the US might be headed for a 1970s-style scenario, complete with a stock market crash.
Persons: , JPMorgan's Marko Kolanovic, Kolanovic, hasn't, Jamie Dimon Organizations: JPMorgan, Service, Microsoft
Following the trade, Jim Cramer's Charitable Trust will own 1,000 shares of BBY, increasing its weighting to roughly 2.35% from 2.12%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the 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's, Jim Cramer, Jim Organizations: BBY, Microsoft, CNBC
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. Jim Cramer has said repeatedly the Fed does not need to cut anytime soon. 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 . 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.
Persons: Jim Cramer, Jerome Powell, Jim, Eli Lilly, Eaton, Lilly, We're, McDonald, , Jeff Marks, Jim Cramer's Organizations: CNBC, Dow Jones, Nasdaq, Federal, Fed, GE Healthcare, Constellation Brands, Molson Coors, TAP, Modelo, Corona, Web Services, Microsoft, Starbucks, Jim Cramer's Charitable Locations: China, Will
Third Point's Dan Loeb said he built a "substantial" stake in Google parent Alphabet in the first quarter, adding that he's so bullish on artificial intelligence that almost half of his portfolio is somehow tied to the theme. Loeb had just exited Alphabet in the fourth quarter following a big run in 2023. At one point in 2023, he owned more than $500 million worth of Alphabet stock, one of his biggest holdings. Alphabet, which also owns YouTube, has gained another 17% in 2024 after surging 58% last year. In the first quarter, Third Point also added to its Taiwan Semi investment, initiated in May of last year.
Persons: Dan Loeb, Loeb, " Loeb, TSMC, — CNBC's Scott Wapner Organizations: CNBC, Microsoft, Amazon, London Stock Exchange, Taiwan Semiconductor Manufacturing, YouTube, Taiwan Semi Locations: Taiwan
Microsoft CEO Satya Nadella (C) arrives for a meeting with Indonesia's President Joko Widodo at the Merdeka Palace in Jakarta on April 30, 2024. The announcement came as CEO Satya Nadella met with Indonesian President Joko Widodo on the same day. "This new generation of AI is reshaping how people live and work everywhere, including in Indonesia," Nadella, chairman and CEO of Microsoft, said in a statement. Microsoft also said it will partner with governments, organizations and communities to provide AI skilling opportunities for 2.5 million people in Association of Southeast Asian Nations member states by 2025. Nadella met with Jokowi in Jakarta on Tuesday to discuss topics including technological and AI breakthroughs that will help Indonesia progress, according to Indonesian news agency Antara.
Persons: Satya Nadella, Joko Widodo, ISMOYO, Nadella Organizations: Getty, Microsoft, Indonesian, Association of Southeast Asian Nations, Jokowi, Antara Locations: Jakarta, AFP, Indonesia, Golden Indonesia
The New York Mets are looking for someone to pick up the mantle of one of the most iconic mascots in American sports. The Flushing, Queens-based ball club recently posted a job listing for a "high-energy, enthusiastic individual" to don Mr. Met's massive baseball-shaped head and serve as the team's most identifiable brand ambassador. The organization is looking for applicants with proven mascot experience and the ability "to perform physically demanding activities" while in the famous costume. But the role of manager of "Mascot Operations" for Mr. Met — as well as his wife Mrs. Met — requires much more than putting on the uniform and mask and keeping fans entertained between innings. Job responsibilities include working with the Mets' marketing team, managing department budgets and coordinating mascot appearances at events around the city.
Organizations: New York Mets, Microsoft, Mets Locations: Flushing, Queens
Apple has lured away 36 Googlers with AI expertise since 2018, the Financial Times reported. It's part of a broader talent war among Big Tech firms seeking to bolster their AI capabilities. The battle could escalate when Microsoft opens an AI hub on Google DeepMind's home turf in London. AdvertisementApple has convinced at least 36 Googlers with AI expertise to jump ship since 2018, according to a Financial Times analysis of LinkedIn profiles. Nine of the 31 authors listed on the research paper had Google listed as their last employer on their LinkedIn profiles, Business Insider found, and two authors came from Microsoft.
Persons: Organizations: Apple, Financial Times, Big Tech, Microsoft, Google, Service Locations: London
Eight daily newspapers owned by Alden Global Capital sued OpenAI and Microsoft on Tuesday, accusing the tech companies of illegally using news articles to power their A.I. All are owned by MediaNews Group or Tribune Publishing, subsidiaries of Alden, the country’s second-largest newspaper operator. In the complaint, the publications accuse OpenAI and Microsoft of using millions of copyrighted articles without permission to train and feed their generative A.I. products, including ChatGPT and Microsoft Copilot. This, it said, reduced the need for readers to pay subscriptions to support local newspapers and deprived the publishers of revenue both from subscriptions and from licensing their content elsewhere.
Persons: OpenAI, Paul, Paul Pioneer Press — Organizations: Alden Global Capital, Microsoft, New York Daily News, The Chicago Tribune, The Orlando Sentinel, The Sun Sentinel, San Jose Mercury News, The Denver Post, Orange County Register, Paul Pioneer Press, U.S . Southern, of, MediaNews Group, Tribune Publishing Locations: Florida, Orange, U.S, of New York, Alden
“Disclose, divest, we will not stop, we will not rest,” protesters at Columbia and universities across the country have chanted. Student protesters who oppose Israel’s military action in Gaza are demanding that their universities sell investments in companies with ties to Israel. Pro-Palestinian protesters say divestment would send an important message of disapproval of Israel’s conduct in Gaza. But while demonstrators have spread their messages across the country, many schools haven’t acquiesced to protesters’ calls for divestment. There are historical precedents for university divestment.
Persons: Israel’s, haven’t, Columbia’s, , Christina Paxson, ” Nicholas Dirks, , Dirks Organizations: CNN — College, Student, Columbia University Apartheid, Microsoft, Protesters, Cornell, Yale, University of Michigan, The University of California, University of California, University, University of Texas, Brown, Brown Daily Herald, Portland State University, Boeing, Columbia, Ford, CNN Locations: Israel, Columbia, Gaza, Dallas, South Africa, Berkeley
For most of its 27 years as a public company, Amazon investors have been asked to sacrifice profit for growth. In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. Almost two-thirds of operating income for all of Amazon came from AWS, which is now generating over $100 billion in annualized revenue. Operating income will be $10 billion to $14 billion, up from $7.7 billion a year earlier.
Persons: Andy Jassy, Andy, Andy Jassy's, Tom Forte, CNBC's, Brian Olsavsky, Olsavsky, That's, Jassy, he's Organizations: Amazon, Seattle, Maxim Group, Revenue, Amazon Web Services, AWS, Technology, Microsoft, Google Locations: Seattle
Eight U.S. newspaper publishers filed suit against Microsoft and OpenAI in a New York federal court on Tuesday, claiming the technology companies reuse their articles without permission in generative artificial intelligence products and incorrectly attribute inaccurate information to them. The group of eight newspaper publishers takes issue with ChatGPT and Microsoft's Copilot assistant — available in the Windows operating system, the Bing search engine, and other products the software maker produces. The legal challenge comes four months after The New York Times sued OpenAI over copyright infringement in the ChatGPT chatbot that the startup released in late 2022. The New York Times case also touched on the matter of OpenAI models regurgitating information from its articles. Correction: This article has been updated to reflect the correct day the lawsuit against Microsoft and OpenAI was filed.
Persons: Sam Altman, Microsoft's, OpenAI, Axel Springer Organizations: Economic, U.S, Microsoft, Bing, Southern, of, New York Daily News, Chicago Tribune, Orlando Sentinel, Sun Sentinel, The Mercury, The Denver Post, Orange County Register, Pioneer Press of Minnesota, CNBC, New York Times, OpenAI's, Financial, Google Locations: Davos, Switzerland, New York, U.S, of New York, Florida, California, Orange
Adam Selipsky, CEO of Amazon Web Services, speaks during the Bloomberg Technology Summit in San Francisco on June 22, 2023. Revenue from Amazon Web Services came out to $25.04 billion, according to the company's earnings statement. The growth marked a step up from the 13% increase Amazon reported for AWS in the fourth quarter. Analysts polled by StreetAccount had expected $7.52 billion in AWS operating income. The AWS operating margin widened to 37.6%, the widest at least since 2014.
Persons: Adam Selipsky, StreetAccount, Gartner, Axios, Anthropic, CFRA's Zino Organizations: Amazon Web Services, Bloomberg Technology Summit, Amazon, Revenue, AWS, Google, Microsoft Locations: San Francisco
Amazon Why we own it : Amazon may be widely known for online shopping, but its cloud business is the real breadwinner. While an International e-commerce sales increase of 10% to $31.94 billion missed estimates, the segment saw $903 million in operating income. Guidance Amazon expects second-quarter net sales to be between $144 billion to $149 billion, growing 7% to 11% year over year. However, thanks to disciplined cost management, operating income guidance is expected to come in much closer to the mark at $10 billion to $14 billion versus $12.73 billion expected. The midpoint of the sales and operating income estimates point to an operating margin target of 8.2%, which compares with an 8.5% estimate for the second quarter.
Persons: it's, Andy Jassy, Jassy, we're, That's, Jim Cramer's, Jim Cramer, Jim, CNBC's Andrew Ross Sorkin Organizations: Amazon, LSEG, Walmart, Target, Microsoft, Services, Web Services, CNBC Locations: Amazon, America, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon earnings preview: Bar higher for ad revenue after strong Snap, Microsoft resultsCNBC's Kate Rooney reports on what to expect from Amazon's quarterly earnings results.
Persons: Kate Rooney Organizations: Microsoft
A whirlwind earnings week saw traders jumping in and out of some of the biggest stocks in the market. For example, shares of Meta Platforms fell 10.6% on Thursday after earnings beat expectations, but revenue guidance was weak . On a chart, those big post-earnings moves can leave "gaps" that may become a key area to watch going forward. What's next for Meta Meta looks like a potential example of the gap being filled after its sharp drop on Thursday. A macro view The big moves by tech giants this past week could make index-level trades a bit tricky.
Persons: John Butters, Katie Stockton, Stockton, What's, , Frank Gretz, Wellington Shields, Gretz, Larry Benedict, Benedict Organizations: Meta, CNBC, Nvidia, Wellington, Intel, Microsoft Locations: FactSet
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