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☆ Veteran EM investor Mark Mobius reveals the 2 tech giants that are key to any portfolio
▼ + stars: | 2023-10-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Veteran emerging markets investor Mark Mobius has named Alibaba and Tencent as key stocks in any portfolio investing in developing economies. Mobius said the Chinese technology giants "could be the foundation of any portfolio" despite recent volatility. Mobius is known for his long-term conviction picks of smaller companies, but stressed the resilience of the two Chinese tech titans. The fund manager said he likes the agility and profitability of smaller tech companies in the region but acknowledged geopolitical risks. So these companies are really very interesting companies," Mobius added.

Persons: Mark Mobius, Mobius, Alibaba, BABA, Franklin Templeton, they're, CNBC's, James Lee, Mizuho, It's Organizations: NYSE, Mobius Capital Partners, Hong, Investment, Mizuho Securities, Franklin, Taiwan Semi, Nvidia, AMD, Fund, Zilltek Technology Locations: Hong Kong, China, Taiwan, Beijing, TSMC, California

The meeting was scheduled for hours after Zelenskiy addressed the United Nations Security Council about Russia's invasion and its consequences. Ukraine has tried to lock in financial support from business leaders to help rebuild the country. A spokesperson for Zelenskiy and Ukraine's mission to the United Nations in New York did not immediately respond to a request for comment. Since the start of the war, Ackman's foundation has donated roughly $24 million to support Ukraine, a person familiar with the numbers said. Before the meeting in New York, the White House appealed to Congress to approve billions of additional dollars of support for Ukraine.

Persons: Ken Griffin, Mike Blake, Volodymyr Zelenskiy, Zelenskiy, JPMorgan Chase, Bill Ackman, Jonathan Gray, Robert Kraft, Henry Kissinger, Eric Schmidt, Mike Bloomberg, Barry Sternlicht, Mary Callahan Erdoes, Vince LaPadula, Whitney Tilson, Griffin, Howard Buffett, Warren, Svea Herbst, Bayliss, Lananh Nguyen, Andrea Shalal, Michelle Nichols, Megan Davies, Grant McCool Organizations: Citadel, Milken, Global Conference, REUTERS, United Nations Security Council, JPMorgan, Blackstone Group, New England Patriots football team, United, State, Google, United Nations, Griffin's Citadel, Ackman's Pershing, Capital Management, Ukraine, Fox News, Svea, Thomson Locations: Beverly Hills , California, U.S, New York, Ukraine, United States

☆ Podcast: India rushes to contain a deadly Nipah virus outbreak in Kerala
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

India rushes to contain a deadly Nipah virus outbreak in Kerala. How lax testing in India fuelled a wave of deadly cough syrup poisonings. Tech CEOs in Capitol Hill talk AI and what US inflation data means for you. Plus, The Bat Lands special podcast and a special report into Bat lands. Further ReadingOver 700 people tested for Nipah virus after two deaths in IndiaCough syrup killed scores of children.

Persons: Musk Organizations: Apple, Google, Reuters, Tech, Capitol, Thomson, Tech titans, AI Fed Locations: India, Kerala, Bat

WASHINGTON, Sept 13 (Reuters) - Tesla (TSLA.O) CEO Elon Musk called on Wednesday for a U.S. "referee" for artificial intelligence after he, Meta Platforms (META.O) CEO Mark Zuckerberg, Alphabet (GOOGL.O) CEO Sundar Pichai and other tech CEOs met with lawmakers at Capitol Hill to discuss AI regulation. Musk said there was need for a regulator to ensure the safe use of AI. "It's important for us to have a referee," Musk told reporters, comparing it to sports. Musk confirmed he had called AI "a double-edged sword" during the forum. Other attendees included Nvidia (NVDA.O) CEO Jensen Huang, Microsoft (MSFT.O) CEO Satya Nadella, IBM (IBM.N) CEO Arvind Krishna, former Microsoft CEO Bill Gates and AFL-CIO labor federation President Liz Shuler.

Persons: Elon Musk, Mark Zuckerberg, Sundar Pichai, Musk, Zuckerberg, Chuck Schumer, Todd Young, Leah Millis, Mike Rounds, Rounds, Jensen Huang, Satya Nadella, Arvind Krishna, Bill Gates, Liz Shuler, Schumer, Joe Biden's, David Shepardson, Moira Warburton, Mike Stone, Jonathan Oatis, Rosalba O'Brien, David Gregorio Our Organizations: Capitol, Lawmakers, Democratic, Republican, Intelligence, Senate, U.S, REUTERS, Nvidia, Microsoft, IBM, AFL, Regulators, Adobe, Google, Thomson Locations: Washington , U.S

☆ Tech Titans Zuckerberg, Musk, Altman Bring AI Debate to Washington
▼ + stars: | 2023-09-13 | by ( Ryan Tracy | Deepa Seetharaman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: washington

But he’s hoping that they will give senators some realistic direction as he tries to do what Congress hasn't done for many years — pass meaningful regulation of the tech industry. “It’s going to be a fascinating group because they have different points of view,” Schumer said in an interview with The Associated Press ahead of the forum. Many members of Congress agree that legislation will probably be needed in response to the quick escalation of artificial intelligence tools in government, business and daily life. In the United States, most major tech companies have expressed support for AI regulations, though they don’t necessarily agree on what that means. Blumenthal’s framework calls for a new “licensing regime” that would require tech companies to seek licenses for high-risk AI systems.

Persons: Chuck Schumer, Meta’s Mark Zuckerberg, Elon Musk, Bill Gates, Schumer, Republican Sen, Mike Rounds, “ It’s, ” Schumer, ” Rounds, “, ”, Mark Warner, Democratic Sen, Martin Heinrich of, Todd Young, Indiana —, Sam Altman, Forrester, Sen, Young, ” Young, “ We’ve, Dana Rao, We’ve, Richard Blumenthal, Conn, Josh Hawley, ” Blumenthal, ___ O'Brien, Ali Swenson, Kelvin Chan Organizations: WASHINGTON, Capitol, Microsoft, Republican, Associated Press, AP, Democratic, European Union, Adobe Locations: South Dakota, Martin Heinrich of New Mexico, Indiana, U.S, United States, Europe, Josh Hawley of Missouri, Providence , Rhode Island, New York, London

☆ Arm is headed for a $52 billion IPO that's set to draw tech titans like Apple and Nvidia. Here's what to know about the biggest US stock debut of the year.
▼ + stars: | 2023-09-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Softbank Group-owned chip designer Arm is targeting a $52 billion IPO in September. The launch is set to draw big investment from tech giants like Apple, Nvidia, Samsung, and Google. The debut is expected to be the largest of 2023, and it could mark a turning point for the sluggish IPO market. A revival of IPOsIt's possible that the blockbuster stock launch marks a turning point for what's been a relatively muted IPO market since 2022. Arm could help pave the way for other tech firms and startups who's plans for an IPO have stalled through the downturn.

Persons: Softbank, Goldman Sachs, JPMorgan Chase, what's, Rob Wotczak, Masayoshi, Instacart, Wotczak Organizations: Softbank, Apple, Nvidia, Samsung, Google, Service, New York Stock Exchange, Wall Street Journal, Fund, Nasdaq, Intel, TSMC, Devices, underwriters, Arm's, Barclays, JPMorgan, Mizuho Financial Group, Bloomberg, Freedom Capital Markets, Vision Locations: Wall, Silicon, London, New York, Saudi

Apple | Spotify | Stitcher | Amazon | Google Listen and follow ‘Hard Fork’A group of tech titans is gobbling up land north of San Francisco with aspirations to alleviate the Bay Area’s housing crisis, promote innovation, and experiment with new forms of governance. It’s not the first time ultra-wealthy people have tried to build the place of their dreams. Then, note-taking apps claim to make us smarter. Casey Newton, a productivity cult member, on how A.I. Plus, Kevin and Casey play HatGPT.

Persons: It’s, Casey Newton, Kevin, Casey, HatGPT Organizations: Apple, Spotify Locations: San Francisco

☆ Big-money investors are increasingly bullish on these 8 AI beneficiaries, according to a Goldman Sachs analysis of over 744 hedge funds with a combined $2.4 trillion in equities
▼ + stars: | 2023-08-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Hedge funds' top holdings have performed much better this year than in 2022 or 2021. Here are eight artificial intelligence beneficiaries that hedge funds are gravitating toward. The heaviest investments from hedge funds recently have been to energy and financials stocks, Snider wrote. 8 AI winners that hedge funds still loveWhile hedge funds haven't turned their back on tech, it may appear that way at first glance. Along with each is its ticker, industry, the number of hedge funds that owned it in December 2022 and June 2023, and the increase in the number of hedge funds that owned the stock in that span.

Persons: Goldman Sachs, Goldman Sachs Goldman Sachs, Ben Snider, Snider, they're, Russell, they've, haven't, it's Organizations: Microsoft, Nvidia, Goldman Sachs Research, Apple

☆ Zuckerberg dismisses Musk for avoiding cage fight: 'It’s time to move on'
▼ + stars: | 2023-08-13 | by ( Julianne Mcshane | ) www.cnbc.com time to read: +3 min

The long-hyped possibility of a cage match between tech titans Mark Zuckerberg and Elon Musk appears to be no more, after Zuckerberg dismissed Musk for allegedly delaying their anticipated showdown in the ring. But in his latest comments on the matter, Zuckerberg said that while he was ready to fight, Musk kept coming up with reasons he couldn't. Musk previously claimed he may need surgery before fighting his rival. Shortly after, in responding to an X user who joked about Zuckerberg being trained in the Brazilian combat sport of jiujitsu, Musk responded, "I'm up for a cage match if he is lol." Musk and Zuckerberg are the second and 16th richest people on the planet, respectively, according to Forbes' most recent list of billionaires.

Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Musk, Elon isn't, Dana White, Elon, Meta, Andy Stone, — that's, Forbes Organizations: Facebook, Meta, Twitter, Las, New York Times, UFC, TMZ Locations: Las Vegas, Palo

☆ From Elon Musk to Chinese tech titans, everyone wants Nvidia's GPU chips. There might not be enough to go around.
▼ + stars: | 2023-08-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Elon Musk has loaded up on Nvidia GPUs for X, xAI, and Tesla. Meanwhile, Chinese tech titans are reportedly scrambling to buy $5 billion worth of the chips. But there are signs emerging that there may not be enough of Nvidia's chips to go around, with multiple top executives warning that demand is massively outpacing supply. Soaring demandThe massive increase in interest in artificial intelligence has been a key factor driving demand for Nvidia's semiconductors. Perhaps the strongest sign that demand for Nvidia's chips is soaring came in May, when it released stellar second-quarter revenue forecasts that smashed Wall Street's expectations by 50%.

Persons: Elon Musk, Biden, Tesla, Adam Selipsky, Matthew Prince, there's, Barron's Organizations: Nvidia, titans, Service, Soaring, New, Research, Financial Times, Elon, Twitter, Web Locations: Wall, Silicon

Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ Top tech investor names 5 tech stocks to buy — and says 2 still have 'a lot of upside'
▼ + stars: | 2023-08-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Top tech investor Paul Meeks says he'll likely buy the dip in stocks, as he doesn't expect a significant and long-lasting downturn, he told CNBC. "Tech and aggressive growth stocks in particular, have done so well, this year, probably got way ahead of themselves going up too far too fast. The five tech stocks he said he would buy are Meta , Alphabet , Extreme Networks , Arista Networks and Shopify . Meeks added that he would also consider one small-cap tech stock that's "too cheap:" Harmonic , a video-streaming tech company. Here's how much average potential upside Wall Street is giving the stocks Meeks mentioned, according to FactSet.

Persons: Paul Meeks, he'll, Meeks, CNBC's, Amazon Meeks, He's, AAPL Organizations: CNBC, Wall, Nasdaq, Dow, Tech, Independent Solutions Wealth Management, Networks, Arista Networks, Apple, titans Apple, Oracle Locations: U.S, China

☆ Stocks are having their best run since 2021. Can they beat the August doldrums?
▼ + stars: | 2023-08-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

On average, August has been the worst performing month for stocks since 1986, according to Morningstar. That means the dwindling number of traders who remain must take extra care in a such a potentially volatile environment. 99-year-old trucking company Yellow shuts downYellow Corp., a 99-year-old trucking company that was once a dominant player in its field, halted operations Sunday and will lay off all 30,000 of its workers, reports my colleague Chris Isidore. He said the company began taking on significant amount of debt 20 years ago in order to acquire other trucking companies. “Now their debt service is just enormous,” he said, pointing to $1.5 billion in debt on its books.

Persons: Morningstar, It’s, it’s, ”, Michael Landsberg, Landsberg, “, ” Jackson, Jerome Powell, Barbie, Barbie ”, “ Oppenheimer, Eva Rothenberg, “ Barbenheimer ”, “ Barbie, Chris Isidore, Satish Jindel, Tom Nightingale, Read Organizations: CNN Business, Bell, New York CNN, Nasdaq, Apple, Landsberg Bennett, Wealth Management, Federal Reserve Bank of Kansas, Fed, Dow, AMC, Oppenheimer AMC Theaters, CNN, Warner Bros, Corp, Teamsters, AFS Logistics, “ Locations: New York, Jackson Hole , Wyoming, Washington, Nashville , Tennessee

☆ These are the watch brands most popular with Silicon Valley's tech elite
▼ + stars: | 2023-07-29 | by ( Lakshmi Varanasi | Jordan Hart | ) www.businessinsider.com time to read: +2 min

Insider asked style experts about the most popular watch brands worn by technology titans. Since the pandemic, those in the know say people in the tech industry are fixating more on watches than ever before. Victoria Hitchcock, a fashion lifestylist and personal brander in Silicon Valley, told Insider by email. Unlike professionals in finance who have long seen the value of "a statement," those in tech industry have been characterized — and even mocked — for their fixation on utility and simplicity. With that in mind, here's a closer look at the watches trending in Silicon Valley right now:

Persons: Cartier, Victoria Hitchcock, —, Paul Altieri, Patek Philippe, Jeff Bezos, Bill Gates, here's Organizations: titans, Casio, Omega, Morning, Technology, Rolex Locations: Silicon Valley

Now, two prominent senators are pushing to create a new federal agency to rein in the power of Big Tech. Elizabeth Warren, Democrat of Massachusetts, and Lindsey Graham, Republican of South Carolina, plan to introduce the Digital Consumer Protection Commission Act, which they say would restrain tech titans while letting them continue to innovate. But these companies have fought hard against increased oversight, and it’s unclear how a new agency will fit into a Washington already full of regulators. The bill is in the vein of legislation that established agencies to oversee fast-growing industries, much like how Congress created the Interstate Commerce Commission, the Federal Communications Commission and the Nuclear Regulatory Commission. “For too long, giant tech companies have exploited consumers’ data, invaded Americans’ privacy, threatened our national security and stomped out competition in our economy,” Ms. Warren told DealBook’s Ephrat Livni.

Persons: Elizabeth Warren, Lindsey Graham, Ms, Warren, DealBook’s Ephrat Livni Organizations: Apple, Meta, Microsoft, Big Tech, Republican, Digital Consumer Protection, Interstate Commerce Commission, Federal Communications Commission, Nuclear Regulatory Commission Locations: Massachusetts, South Carolina, Washington

☆ Premarket stocks: The stock market is dominated by just a handful of companies. The Biden administration is worried
▼ + stars: | 2023-07-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

What’s happening: Two years ago, Lina Khan, 34, became the youngest and perhaps most progressive leader of the FTC’s 100-plus year history. Khan, meanwhile, was unable to successfully block Microsoft from closing its $69 billion purchase of videogame publisher Activision Blizzard last week. The rise of gig workers is changing the face of the US economyFrom CNN’s Samantha DelouyaLazarus Limo usually starts his day at 10 a.m. But workplace experts say the number of gig workers is growing, and and their impact is being felt throughout the economy. But whether the success of both films will translate into a sustained revival of the movie industry remains to be seen.

Persons: New York CNN —, Biden, Lina Khan, haven’t, Khan, Kevin Kiley, Joe Biden, —, Brian Fung, ” Khan, “, ” What’s, She’s, Samantha Delouya Lazarus, ”, that’s, Louis Hyman, ” Read, “ Barbie ”, “ Oppenheimer, Anna Cooban, “ Barbie, Barbie ”, ” Daniel Loria, Disney’s “ Indiana Jones Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Nvidia, of America, Big Tech, Federal Trade Commission, FTC, White, Activision Blizzard, Republican, Economic, of New, Yale Law, Amazon, Bloomberg, Tech, Meta, Uber, CNN, DoorDash, of Labor Statistics, Cornell University, “ Society, Insiders, Warner Bros, Universal Studios, Warner Bros ., AMC, Hollywood Locations: New York, California, of New York, Hill , North Carolina, “, United States, Instacart, Disney’s

☆ US startups are having a bad year. Relief isn’t coming
▼ + stars: | 2023-07-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Across the country, in Silicon Valley, the situation isn’t quite as good. For decades Silicon Valley has been a dominant contributor to the US economy and an integral part of the country’s culture. Bankruptcy filings…less so.”Pitchbook and The National Venture Capital Association’s most recent report on the industry also takes a pessimistic view of the situation. What it means: While startups are certainly far from extinct, there has been a serious culling in Silicon Valley that will likely continue on for some time. Just 19% of venture capital deals were made with startups based in the Bay Area this year; that’s down from 22% in 2020.

Persons: haven’t, Tom Loverro, IVP, Pitchbook, ”, dealmakers, Goldman Sachs, Morgan Stanley, they’ll, they’re, Elizabeth Warren, Tesla, Elon Musk, Ramishah Maruf, Elon, “, ” Warren, funneling Tesla, Warren, Gary Gensler, Linda Yaccarino, Musk, CNN’s Justin Gamble, Bill Clinton, Jonah Bryson, “ We’ve, Michael D, Smith Organizations: CNN Business, Bell, New York CNN, Apple, Microsoft, Venture, National Venture Capital, Goldman, Center for Research, Bank, SEC, Twitter, Securities and Exchange, AmeriCorps, CNN Locations: New York, Silicon Valley, Silicon, Massachusetts, America

☆ Musk and Zuckerberg might channel their cage-fight anger on a new, shared enemy: ChatGPT
▼ + stars: | 2023-07-13 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Artificial intelligence could become the next battleground for Elon Musk and Mark Zuckerberg. Artificial intelligence could become the next battleground in the ongoing feud between Tesla CEO Elon Musk and Meta Platforms boss Mark Zuckerberg. The two billionaires – who've been trading barbs online since Musk summoned Zuckerberg to a cage fight last month – are working to challenge the dominance of ChatGPT owner OpenAI. Zuckerberg responded by telling Musk to "send [him his] location", setting the stage for a physical confrontation. Insider tech reporter (and resident combat sports expert) Hasan Chowdhury believes that Zuckerberg would have the edge in that one.

Persons: Elon Musk, Mark Zuckerberg, – who've, Musk, Zuckerberg, OpenAI, it's, It's, Sam Altman's, Hasan Chowdhury Organizations: Meta, Financial Times, Microsoft, Nvidia Locations: DeepMind

☆ Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Some of the tax-prep companies still do not know whether the data they shared continues to be held by the tech platforms, the report said. The Warren aide told CNN it was unclear whether Meta knew it was inappropriately using taxpayer data at the time. The investigation found that all three tax-prep companies had discontinued their use of Meta’s pixel after The Markup’s report last November. “The scope of ‘taxpayer information’ is broad by design,” Rosenthal said, adding that tax-prep companies can be sued for “knowingly” or “recklessly” leaking that information. Depending on the strength of the allegations, the tax-prep companies could quickly be forced into a binding settlement, said a former FTC official who requested anonymity in order to speak more freely.

Persons: “, ”, David Vladeck, Vladeck, Democratic Sen, Elizabeth Warren, Meta, Warren, ‘, Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Sheldon Whitehouse, Sen, Bernie Sanders, Katie Porter, TIGTA didn’t, Block, TaxSlayer didn’t, TaxAct, TaxSlayer, TurboTax, Steven Rosenthal, ” Rosenthal Organizations: CNN, Meta, Google, Georgetown University, Federal Trade Commission, Democratic, FTC, Internal Revenue Service, Justice Department, Tax Administration, Intuit, IRS, Urban, Brookings Tax Locations: United States, Google’s

☆ Meta launches Instagram Threads in a direct challenge to Twitter
▼ + stars: | 2023-07-05 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Meta has officially debuted its Twitter-like messaging app Threads, which the company is pitching as Instagram's "text-based conversation app." Mark Zuckerberg, Meta's CEO and co-founder, announced the debut of Threads on Wednesday, marking the official release of the social networking giant's new text-focused messaging app. The Threads app is now available to download for free on the Apple App Store and Google Play online store in over 100 countries, Meta said in a blog post. Many Instagram users were also recently able to obtain invitations to access Threads from within their Instagram accounts. Although Threads is linked to Instagram, with users able to use their existing Instagram usernames, the messaging service is a separate app that people will need to download.

Persons: Mark Zuckerberg, Elon Musk, Meta, Instagram Organizations: Tech, Meta, SpaceX, Apple

☆ UFC president Dana White said he talked to Elon Musk and Mark Zuckerberg on the phone for 1.5 hours — and that both are 'dead serious' about fighting
▼ + stars: | 2023-06-23 | by ( Will Gendron | ) www.businessinsider.com time to read: +2 min

UFC president Dana White says he spoke to both men and that they're "dead serious" about fighting. "Probably spent an hour and a half on the phone with both of them last night," UFC president Dana White told TMZ. White told TMZ that Zuckerberg was the first of the tech titans to reach out, asking if Musk "was serious." White claims he relayed the question to Musk, who said he was "dead serious." Representatives for the UFC, Zuckerberg and Musk did not immediately respond to Insider's request for comment.

Persons: Elon Musk, Mark Zuckerberg, Dana White, Musk, Zuckerberg, White, I've Organizations: Elon, UFC, TMZ, titans, Representatives Locations: South Africa

☆ Sam Altman says he'd go watch Elon Musk cage fight Mark Zuckerberg
▼ + stars: | 2023-06-23 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Elon Musk and Mark Zuckerberg have taken digs at each other before. Now the two tech CEOs have seemingly agreed to a cage fight. OpenAI CEO Sam Altman told Bloomberg he "would go watch" if the two actually fight. "I would go watch if he and Zuck actually did that," OpenAI CEO Sam Altman told Bloomberg's Emily Chang on Thursday, though he said he doesn't think he would ever take Musk on in a physical fight. "He really cares about AI safety a lot," Altman told Bloomberg of Musk.

Persons: Elon Musk, Mark Zuckerberg, Sam Altman, Musk, Zuckerberg, Zuckerberg —, —, Zuck, Emily Chang, Altman, OpenAI, didn't Organizations: Bloomberg, Morning, Tech, Twitter, city's Apex, UFC, Musk

☆ A top-1% fund manager over the past 3 years shares how he's consistently outperformed throughout wildly different markets — and 8 of his favorite places to invest right now
▼ + stars: | 2023-06-09 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are eight companies or areas of the market that Muhlenkamp said he's bullish on. Regardless of what's happened in the economy or markets, the veteran investor's namesake Muhlenkamp Fund (MUHLX) has found a way to dominate. Although energy stocks have since reversed to become the worst-performing sector of 2023, Muhlenkamp said he's stuck with the group while riding the broad rebound in technology stocks. Two other tech companies Muhlenkamp mentioned are semiconductor firms Broadcom (AVGO) and Microchip (MCHP). Outside of technology, Muhlenkamp said he continues to like stocks tied to housing and financials, including certain regional banks.

Persons: Jeff Muhlenkamp, Muhlenkamp, he's, I'd, Morningstar, Goldman Sachs, they've, they're, He's Organizations: Muhlenkamp, Apple, Microsoft, Apple Watch, Vision, Broadcom, Bank, Federal Locations: Regional

☆ The 'mother of all melt-ups' in stocks could be quickly followed by a meltdown as the bubble in overvalued names pops, Ed Yardeni says
▼ + stars: | 2023-06-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could face a meltdown as the bubble in firms riding the AI excitement pops, Ed Yardeni said. The current bull market in stocks is unusual, as they typically begin when valuations for firms are low, he said. But if stocks rise too quickly, it could spell trouble for the market as the bubble in overvalued names pops. That ratio is now around 18, largely due to the success of the eight mega-cap firms. High rates also risk tipping the economy into recession, experts warn, which is also likely to weigh on stocks.

Persons: Ed Yardeni, meltdowns, —, Yardeni Organizations: Service, Fox Business, Yardeni, Nvidia, Microsoft, & $

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