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☆ Wall Street shows ongoing frustration with an entertainment giant, sees gains ahead for 2 retailers
▼ + stars: | 2023-06-29 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

DIS YTD mountain Disney's year-to-date stock performance. Over the past 12 months, Disney's performance has been worse, falling nearly 8%. So, it's easy to understand KeyBanc's frustration with Disney's stock. TJX YTD mountain TJX Companies' year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance.

Persons: Walt Disney, KeyBanc, Piper Sandler, Piper Sander, TJ Maxx, TJX, it's, we're, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: TJX Companies, Disney, Management, Wall Street, Burlington Stores, Ross Stores, Marshalls, UBS, JPMorgan, Bloomberg, Federal Trade Commission, Amazon, Google, FTC, CNBC, Walt Disney World, Getty Locations: Orlando , Florida

☆ Oracle extends its flagship database to Ampere's computing chips
▼ + stars: | 2023-06-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Brian Snyder/File PhotoMENLO PARK, California (Reuters) - Oracle on Wednesday said that it has modified its flagship database software to work on a new category of computing chip, starting with chips from Ampere Computing, a startup founded by former Intel executives. Oracle’s database software is used by major banks and corporations to track transactions. On Wednesday, Oracle said that the database will now also run on chips made based on a technological architecture from Arm Ltd, the same underlying technology that is in mobile phones. Ellison said Ampere’s chips are much more power efficient than offerings from its other two major chip suppliers, Advanced Micro Devices and Nvidia. By upgrading to Ampere, we’re able to take that room, double the compute and stay within the same power envelope,” Ellison said.

Persons: Brian Snyder, Ampere, Intel’s, “, We’ve, we’ve, Larry Ellison, Ellison, we’re, ” Ellison Organizations: REUTERS, MENLO, Oracle, Ampere Computing, Intel, Arm Ltd, Ampere, Amazon Web Services, Devices, Nvidia Locations: Burlington , Massachusetts, U.S, , California, Ampere

☆ Oracle spending 'billions' on Nvidia chips this year, Ellison says
▼ + stars: | 2023-06-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File PhotoMENLO PARK, California, June 28 (Reuters) - Oracle Corp (ORCL.N) is spending "billions" of dollars on chips from Nvidia Corp (NVDA.O) as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday. Oracle is also spending "billions" of dollars on Nvidia chips but even more on central processor units (CPUs) from Ampere Computing, a chip startup it has invested in, and Advanced Micro Device Inc (AMD.O), Ellison said at an Ampere event. "This year, Oracle will buy GPUs and CPUs from three companies," Ellison said. "We will buy GPUs from Nvidia, and we're buying billions of dollars of those. Other companies such as CoreWeave, which earlier this year raised a fresh $200 million of funding, are also targeting AI companies with cloud hardware that relies heavily on Nvidia chips.

Persons: Mike Blake, Larry Ellison, Ellison, Oracle, Stephen Nellis, Richard Chang Organizations: REUTERS, MENLO, Oracle Corp, Nvidia Corp, Oracle, Amazon Web Services, Microsoft Corp, Ampere Computing, Device, Nvidia, Ampere, AMD, Google, Thomson Locations: Los Angeles , California, U.S, , California, Menlo Park , California

☆ Amazon cloud unit to invest nearly $8 billion in Ohio
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Amazon.com's (AMZN.O) cloud computing division would invest $7.8 billion through 2030 in Ohio to expand its data center operations, it said on Monday. Amazon said the new investment will create hundreds of jobs and support thousands at local businesses through construction, operations and maintenance on-site at Amazon Web Service facilities. The company had in January said it plans to invest another $35 billion by 2040 to expand data centers in Virginia. It also aims to invest 1.06 trillion rupees ($13 billion) in India by the end of this decade. Reporting by Yuvraj Malik and Tiyashi Datta in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Yuvraj Malik, Tiyashi Datta, Vinay Dwivedi Organizations: Amazon Web Service, Thomson Locations: Ohio, Virginia, India, Bengaluru

☆ Microsoft CEO Nadella said last year goal is to reach $500 billion in sales by 2030, court filing shows
▼ + stars: | 2023-06-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella told fellow executives and board members last year that the software company aims to reach $500 billion in revenue by the 2030 fiscal year, more than doubling from its current size. Nadella described a goal of "20/20," involving 20% year-over-year revenue growth and 20% operating income expansion for the 2022 fiscal year and subsequent years. For 2022, Microsoft wound up reaching 18% top-line growth to $198.27 billion in revenue, and 19% operating income growth. In the memo, Nadella used the phrase Microsoft Plus to describe products aimed at consumers. "Our priority is to maintain growth above the market rate to extend our lead over GCP and close the gap with AWS," Nadella wrote in the accompanying document.

Persons: Satya Nadella, Nadella, Kevin Simpson Organizations: Microsoft Corp, White, Microsoft, Activision Blizzard, Amazon Web Services, Google, LinkedIn, Federal Trade Commission, Activision, Apple Locations: Washington , DC

☆ Analysts see A.I. as a double-edged sword for 3 big tech stocks. We're more optimistic
▼ + stars: | 2023-06-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Alphabet The news: Analysts at UBS lowered their rating on Alphabet to neutral from buy but increased their price target to $132 per share from $123. Analysts expect the company's use of generative AI to be the "next leg to shares," and its use of AI tools should help the company "be viewed as an AI winner." Though Meta shares fell 3.5% to $278 each Monday. Reacceleration of revenue growth at Amazon's cloud unit, Amazon Web Services (AWS) into the fourth quarter of this year, should be a catalyst for the stock, analysts said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eric Schmidt, Jim, We're, Meta, Mark Zuckerberg, there's, Zuckerberg, Roth, Jim Cramer's, Jim Cramer, Sebastien Bozon Organizations: CNBC, Nasdaq, UBS, Google, Club, Microsoft, Facebook, Meta, Apple, Amazon Web Services, AFP, Getty Locations: Mulhouse

☆ Amazon commits to $15 billion India investment, CEO says
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - Amazon.com Inc (AMZN.O) will invest an additional $15 billion in India, the company's Chief Executive Andy Jassy told Prime Minister Narendra Modi in his meeting on Friday. The investment will take the e-commerce giant's total India investment across all businesses to $26 billion by 2030, he said. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitization, and empowering individuals and small businesses to compete globally, an Amazon blog post said. "We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," Pichai said. ($1 = 81.9800 Indian rupees)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Andy Jassy, Narendra Modi, Modi, Jassy, Sundar Pichai, Pichai, Tim Cook, Google's, Satya Nadella, Jahnavi, William Mallard Organizations: Amazon.com Inc, Web Services, Google, Twitter, U.S, Thomson Locations: India, City, India's, Gujarat, Washington, Bengaluru

☆ Amazon raises investment in India to $26 bln by 2030
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail. The new investment amount committed now comes to around an additional $6.5 billion. The e-commerce giant's announced investment during Modi's trip adds to other companies, including U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.

Persons: Francis Mascarenhas, Andy Jassy, Narendra Modi, Jassy, Walmart's Flipkart, Mukesh Ambani's, Modi, Sundar Pichai, Tim Cook, Google's, Satya Nadella, Aditya Kalra, William Mallard, Jacqueline Wong, Toby Chopra Organizations: Amazon Prime, REUTERS, Amazon.com Inc, Web Services, Amazon, giant's, Micron Technology, Google, Reuters, Twitter, U.S, Thomson Locations: Mumbai, India, DELHI, United States, U.S, City, India's, Gujarat, Washington

☆ Amazon commits to $15 billion India investment, CEO Andy Jassy says
▼ + stars: | 2023-06-24 | by ( ) www.cnbc.com time to read: +1 min

US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. Amazon.com will invest an additional $15 billion in India, the company's Chief Executive Andy Jassy told Prime Minister Narendra Modi in his meeting on Friday. The investment will take the e-commerce giant's total India investment across all businesses to $26 billion by 2030, he said. Separately, Google will open a global fintech operation center in GIFT City in India's western state of Gujarat, CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company. "We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," Pichai said.

Persons: Joe Biden, Narendra Modi, Andy Jassy, Modi, Jassy, Sundar Pichai, Pichai Organizations: India's, Amazon.com, Web Services, Google, Twitter Locations: Washington ,, India, City, India's, Gujarat

☆ These are the most-loved Club stocks on Wall Street. Here’s where we stand
▼ + stars: | 2023-06-23 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

HAL YTD mountain Halliburton's year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance. GOOGL YTD mountain Alphabet's year-to-date stock performance. That's lagged many other large-cap tech peers over the same stretch, including Club stock Nvidia (NVDA), which climbed 11%, and Adobe (ADBE), which advanced 10%. PANW YTD mountain Palo Alto Networks' year-to-date stock performance.

Persons: It's, hasn't, it's, Halliburton, We're, we'd, it'd, what's, we're, Linde, Jim Cramer's, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Linde, LIN, Palo Alto Networks, Wall, Club, Coterra Energy, Federal, Amazon, Amazon Web, Microsoft, Nvidia, Adobe, Networks, CNBC, Getty Locations: Thursday's, Palo, U.S, Europe, Stillwater , Oklahoma

☆ Russia tells Amazon Web Services to set up local representation or face restrictions
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - Russia's state communications regulator Roskomnadzor has added Amazon Web Services (AMZN.O) and 11 other foreign technology companies to a widened list of firms it wants to open local offices or face penalties and possible bans. Moscow's subsequent invasion of Ukraine intensified Russia's disputes with Big Tech, ultimately leading to Twitter, Facebook and others being banned from the market. But despite the initial threats, may other listed web services remain operational and available, such as YouTube, Wikipedia, Telegram and Zoom. Amazon Web Services and another 11 mostly hosting sites were added on Thursday, Roskomnadzor's website showed. It was not immediately clear what the listing would mean for Amazon and others.

Persons: Roskomnadzor's, Alexander Marrow, David Evans Organizations: Web Services, Google, Facebook, Apple, Twitter, Big Tech, Thomson Locations: Russia, Ukraine

☆ Watch CNBC's full interview with Amazon Web Services CEO Adam Selipsky
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Amazon Web Services CEO Adam SelipskyAmazon Web Services CEO Adam Selipsky joins CNBC's Deirdre Bosa in San Francisco to discuss AWS' generative AI program, as well as competition among the hyperscalers and the state of enterprise spending.

Persons: Adam Selipsky, Deirdre Bosa Organizations: Amazon Web, Web Locations: San Francisco

☆ AWS is investing $100 million in generative A.I. center in race to keep up with Microsoft and Google
▼ + stars: | 2023-06-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

But the announcement shows that Amazon Web Services recognizes the significance of the current moment in generative AI and the importance of being in the conversation, alongside rivals Microsoft and Google . However, those rivals have had splashier entrances into generative AI, even though Amazon has drawn broadly on AI for years to show shopping recommendations and operate its Alexa voice assistant. For Amazon, that momentum applies to its Bedrock generative AI service and its Titan models as well as the new innovation center. Really, you need the cloud for generative AI." Also, the way Selipsky sees it, AWS provides a measure of credibility in offering generative AI that eludes others in the space.

Persons: OpenAI, Adam Selipsky, Selipsky, isn't, Jeff Bezos, we're, I've Organizations: Web Services, Microsoft, Google, CNBC, RyanAir, Lonely, Amazon, Nvidia, Fortune, FTC Locations: Twilio

☆ Bank of America says Amazon shares follow a clear upward pattern heading into Prime Day
▼ + stars: | 2023-06-21 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +3 min

Amazon has made it official: Prime Day will return on July 11 and 12 this year. Most analysts see room for Amazon stock to run, despite its nearly 50% year-to-date gain. Amazon began the Prime Day event in 2015 as a way to boost its Prime membership, and has held it annually ever since. On Wednesday, Amazon shares were trading down more than 1% after the Federal Trade Commission announced a lawsuit against the company, alleging "deceptive" sales tactics tied to the Prime program. A Prime membership costs about $139 a year and includes perks like free shipping and access to Amazon's streaming service.

Persons: Michael Dick, Amazon, FactSet, John Colantuoni, Colantuoni, Doug Anmuth Organizations: Bank of, Jefferies, Web Services, Walmart, Amazon, Rivals, Target, Federal Trade Commission, FTC Locations: U.S

☆ Two developments created in a tug-of-war in Amazon stock, fueling debate on our next move
▼ + stars: | 2023-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

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. 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: It's, Jim Cramer, Jim, Lina Khan, Homestretch, Jefferies, it's, Jim Cramer's, Washington, Mike Segar Organizations: Amazon, Trade, Jefferies, Web Services, Big Tech, Jim Cramer's Charitable, CNBC Locations: New York

☆ Cisco launches new AI networking chips to compete with Broadcom, Marvell
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

June 20 (Reuters) - Cisco Systems (CSCO.O) on Tuesday launched networking chips for AI supercomputers that would compete with offerings from Broadcom (AVGO.O) and Marvell Technology (MRVL.O). The chips are being tested by five of the six major cloud providers, Cisco said, without naming the firms. Cisco is a major supplier of networking equipment including ethernet switches, which connect devices such as computers, laptops, routers, servers and printers to a local area network. "G200 & G202 are going to be the most powerful networking chips in the market fueling AI/ML workloads enabling the most power-efficient network," Cisco fellow and formerly principal engineer Rakesh Chopra said. Cisco said the chips could help in carrying out AI and machine learning tasks with 40% fewer switches and a lesser lag, while being more power efficient.

Persons: Rakesh Chopra, Chavi Mehta, Stephen Nellis, Anil D'Silva Organizations: Cisco Systems, Broadcom, Marvell Technology, Cisco, Amazon Web Services, Microsoft, Google, Bofa Global Research, Thomson Locations: Bengaluru

☆ He was employee No. 8 at Stripe. Now, he's taking on Salesforce and AWS with $50 million in new funding for his startup Render. Here's the pitch deck it used.
▼ + stars: | 2023-06-20 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

That led to Render, a cloud provider that has now raised $50 million in Series B funding. That's the idea behind Render, a tech startup that makes a modern cloud to build and run apps and websites. RenderBefore Render, Goel got hired as the eighth employee of a then-unknown tech startup called Stripe. It serves more than half a million developers, an increase from just under 100,000 developers in July of 2022, Goel said. The latest funding will allow Render to hire its first chief of marketing and expand its engineering team.

Persons: Anurag Goel, Elliott Robinson, Mary D'Onofrio, Catalyst, Goel, Salesforce, It's, They've Organizations: Investors, Bessemer Venture Partners, Fund, Web Services, Microsoft, Google, Developers

The agreement, disclosed in court papers filed late on Friday, still requires the approval of the federal judge overseeing the litigation. To make certain that U.S. customer assets do not go offshore, the agreement allows only Binance.US employees access to these assets. The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets. "Given that Changpeng Zhao and Binance have control of the platforms' customers' assets and have been able to commingle customer assets or divert customer assets as they please ... these prohibitions are essential to protecting investor assets," Gurbir Grewal, director of the SEC's enforcement division, said in the statement. The U.S. affiliate of Binance halted dollar deposits last week and gave customers a deadline of June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets.

Persons: Binance, Changpeng Zhao, Binance.US, Zhao, Gurbir Grewal, Baranjot Kaur, Akanksha, Jose Joseph, Will Dunham, Stephen Coates, Louise Heavens Organizations: U.S . Securities, Exchange Commission, SEC, Binance Holdings, Services, U.S, Thomson Locations: United States, Bengaluru

☆ Binance, SEC agree to allow only US employees to access customer funds
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

June 17 (Reuters) - Binance, Binance.US and the U.S. securities regulator entered into an agreement to ensure that only Binance.US employees could access customer funds in the short term, according to court documents. The proposed agreement comes after the SEC sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator last week, in a dramatic escalation of a crackdown on the industry by U.S. regulators. Binance.US and SEC did not immediately respond to Reuters' request for comment. The U.S. affiliate of Binance halted dollar deposits last week and gave customers until June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets. Other provisions in the proposed agreement will see Binance.US create new crypto wallets that the global exchange's employees have no access to, provide additional information to the SEC and agree to an expedited discovery schedule, the filings said.

Persons: Binance, Changpeng Zhao, Binance.US, Baranjot Kaur, Stephen Coates, Louise Heavens Organizations: Binance Holdings, Services, SEC, Reuters, U.S, Thomson Locations: Bengaluru

☆ Binance, SEC strike deal to move all US customer funds, wallet keys back onshore - CoinDesk
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: +1 min

June 17 (Reuters) - Binance, Binance.US and the U.S. securities regulator announced a deal to ensure that only Binance.US employees could access customer funds in the short term, CoinDesk reported on Saturday, citing a proposed agreement. The proposed agreement comes after the SEC sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator last week, in a dramatic escalation of a crackdown on the industry by U.S. regulators. The SEC also sued major U.S. exchange Coinbase (COIN.O) after that. Binance.US and SEC did not immediately respond to Reuters' request for comment. The U.S. affiliate of Binance halted dollar deposits last week and gave customers until June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets.

Persons: CoinDesk, Binance, Changpeng Zhao, Binance.US, Baranjot Kaur, Stephen Coates, Louise Heavens Organizations: Binance Holdings, Services, SEC, Reuters, U.S, Thomson Locations: Bengaluru

☆ Binance and the SEC agree to allow only U.S. employees to access customer funds
▼ + stars: | 2023-06-17 | by ( ) www.cnbc.com time to read: +1 min

Binance, Binance.US and the U.S. securities regulator entered into an agreement to ensure that only Binance.US employees could access customer funds in the short term, according to court documents. The SEC also sued major U.S. exchange Coinbase after that. Binance.US and the SEC did not immediately respond to Reuters' request for comment. The U.S. affiliate of Binance halted dollar deposits last week and gave customers until June 13 to withdraw their dollar funds, after the SEC asked a court to freeze its assets. Other provisions in the proposed agreement will see Binance.US create new crypto wallets that the global exchange's employees have no access to, provide additional information to the SEC and agree to an expedited discovery schedule, the filings said.

Persons: Binance, Changpeng Zhao Organizations: Binance Holdings, Services, Securities and Exchange Commission, SEC, Reuters, U.S

☆ Amazon will not host re:MARS robotics and AI conference this year
▼ + stars: | 2023-06-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon doesn't plan to host its re:MARS conference on cutting-edge technologies like robotics and space this year, the company confirmed on Friday. It will incorporate the subjects into its existing lineup of Amazon Web Services events. The decision to cancel re:MARS was not made for budgetary reasons, Amazon said. Amazon used re:MARS to spotlight some of its futuristic innovations, such as delivery drones, warehouse robots, and its first home robot. At last year's conference, Amazon demonstrated a feature where its Alexa digital assistant impersonated a deceased relative.

Persons: Jeff Bezos, Andy Jassy, Bezos Organizations: Amazon Web, Machine, Robotics, Amazon, Amazon Care, Amazon Web Services, CNBC

☆ S&P 500, Nasdaq futures rise in run-up to Fed rate verdict
▼ + stars: | 2023-06-14 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

(Reuters) -The S&P 500 and Nasdaq futures edged higher on Wednesday as investors overwhelmingly expect the Federal Reserve to pause its monetary tightening campaign later in the day. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023. U.S. stocks have rallied in recent weeks, pushing the benchmark S&P 500 and Nasdaq to 14-month highs, boosted by signs of economic resilience, an upbeat earnings season and hopes that interest rates were near their peak. ET, Dow e-minis were down 42 points, or 0.12%, S&P 500 e-minis were up 7 points, or 0.16%, and Nasdaq 100 e-minis were up 17.75 points, or 0.12%. Tesla Inc added 2.0% as the electric-vehicle maker slightly increased the price of its Model Y car in the United States.

Persons: Brendan McDermid, ”, Richard Flynn, Charles Schwab, Jerome, Humana Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Traders, Nasdaq, Dow e, Services, Tesla, United Health Group, CVS Health Locations: New York City, U.S, United States

☆ Exclusive: Amazon's cloud unit is considering AMD's new AI chips
▼ + stars: | 2023-06-14 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The remarks came during an AMD event where the chip company outlined its strategy for the AI market, which is dominated by rival Nvidia Corp (NVDA.O). While AWS has not made any public commitments to use AMD's new MI300 chips in its cloud services, Dave Brown, vice president of elastic compute cloud at Amazon, said AWS is considering them. Nvidia does sell its chips piecemeal but is also asking cloud providers if they are willing to offer an entire system designed by Nvidia in a product called DGX Cloud. Brown said AWS had declined to work with Nvidia on the DGX Cloud offering. AWS started selling Nvidia's H100 chip in March, but as part of systems of its own design.

Persons: Nvidia's, Lisa Su, Su, Dave Brown, We're, Brown, Stephen Nellis, Kim Coghill Organizations: FRANCISCO, Web Services, Devices Inc, Reuters, Nvidia Corp, AMD, AWS, Nvidia, Oracle Corp, Thomson Locations: San Francisco

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. 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, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

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