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☆ These 'uber crowded' trades from hedge funds are up nearly 30% this year, according to Jefferies
▼ + stars: | 2023-08-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds and other professional investors' favorite bets are crushing the market, posting a near 30% rally this year, according to Jefferies. The Wall Street firm looked at recent regulatory filings from hedge funds and long-only fund managers and found the most-popular holdings among both groups, calling them "uber crowded" trades. A number of stocks tied to artificial intelligence showed up in the "uber crowded" portfolio. Alphabet is also well-loved by hedge funds and long-only mutual funds. Software company Adobe and health care name Elevance Health are also on the list of crowded trades.

Persons: Jefferies, Bill Ackman, Stanley Druckenmiller, Dan Loeb Organizations: Microsoft, OpenAI, Nvidia, YouTube, Adobe

☆ Tech's done well this year — and Goldman Sachs says these 6 stocks have even further to go
▼ + stars: | 2023-08-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Tech stocks have already had a strong year, but one corner of the sector has more "appealing" opportunities in store for investors, according to Goldman Sachs. Software stocks that Goldman covers have already soared 37% in the year to date, said the bank in a July 21 note. Goldman added that software companies are more "adequately set up to outperform" in the second quarter and for the rest of the year. This sets the stage for a potential return to the more normalized beat-and-raise cadence typically associated with software companies," the bank's analysts said. Six software stocks Goldman said these stocks still offer strong investment opportunities: Adobe , Salesforce , Monday.com , Microsoft , ServiceNow , Workday .

Persons: Goldman Sachs, Goldman, they'll, — CNBC's Michael Bloom Organizations: Software, Microsoft, Adobe

☆ UK regulator aims for decision on Microsoft-Activision deal by Aug. 29
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 31 (Reuters) - Britain's antitrust regulator on Monday opened up its inquiry into Microsoft's Activision Blizzard deal for comments as it aims for a final decision by Aug. 29 on a $69 billion takeover it had previously blocked in April. The Competition and Markets Authority (CMA) also on Monday published Microsoft's arguments explaining why the deal should be re-evaluated, as the U.S. software giant battles to win UK approval to buy "Call of Duty" maker Activision. A court involved in the case had already published Microsoft's argument that the binding commitments accepted by the European Union shortly after Britain had blocked the deal had now changed the situation. Any persons wishing to comment on the new version of Microsoft's takeover should do so by Aug. 4, the CMA said in its statement. It is aiming to make a final decision on the deal by Aug. 29, the CMA said.

Persons: Sarah Young, Sam Tobin, Kate Holton Organizations: Activision, Markets Authority, European Union, CMA, Microsoft, Sony, NVIDIA, Boosteroid, Thomson Locations: U.S, European, Britain

☆ Microsoft-Activision deal back in hands of UK regulator after court pauses appeal
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Microsoft's Activision Blizzard deal is back in the hands of Britain's antitrust regulator after an appeals court granted an adjournment, and the grounds for why the UK should reconsider its block on the U.S. software giant's takeover were published. The Competition and Markets Authority (CMA) set out on Friday Microsoft's arguments for the reconsideration, as the U.S. battles to win UK approval to buy "Call of Duty" maker Activision. Explaining why the deal should now be given the green light, Microsoft argued that the binding commitments accepted by the European Union shortly after Britain had blocked the deal changed matters, court documents published showed. The CMA said it understood that Microsoft considered the recent licensing deal it agreed with Sony constituted a further material change of circumstance or special reason. Britain's Competition Appeal Tribunal provisionally approved the adjournment on Monday subject to further submissions from the parties.

Persons: Candy, Sarah Young, Paul Sandle, Sam Tobin, Alistair Smout, Louise Heavens Organizations: Microsoft's Activision, Markets Authority, Activision, CMA, Microsoft, European Union, NVIDIA, Boosteroid, Sony, Thomson Locations: U.S, European, Britain

☆ Exclusive: Microsoft hit with EU antitrust complaint by German rival
▼ + stars: | 2023-07-20 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, July 20 (Reuters) - Microsoft (MSFT.O) was hit with an EU antitrust complaint by German rival alfaview on Thursday, the second so far over its bundling of video app Teams into its Office product. The U.S. software giant has been on the EU competition enforcer's radar since 2020, when Salesforce-owned (CRM.N) workspace messaging app Slack complained about the tying of Teams with Office. Alfaview, based in Karlsruhe in south-western Germany and with a 500-strong workforce, said it had filed a similar complaint to the European Commission. Microsoft added Teams to Office 365 in 2017 for free, with the app eventually replacing Skype for Business. Alfaview urged the EU antitrust watchdog to open a formal investigation, saying remedies offered by its U.S. rival to the Commission were insufficient.

Persons: alfaview, Slack, Niko Fostiropoulos, Alfaview, Foo Yun Chee, David Evans, Emma Rumney Organizations: Microsoft, Regulators, EU, European Commission, U.S ., Skype, Business, Reuters, Thomson Locations: BRUSSELS, U.S, Karlsruhe, Germany

☆ IBM reports earnings beat, but misses on revenue
▼ + stars: | 2023-07-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

IBM reported second-quarter earnings on Wednesday that topped analysts' estimates as the company expanded its gross margin. Revenue: $15.48 billion, versus $15.58 billion expected, according to Refinitiv. Net income for the quarter rose 13% to $1.6 billion from $1.4 billion, or $1.72 per share, a year earlier. IBM reiterated on Wednesday that it expects between 3% and 5% revenue growth through the end of the year in constant currency. The company's infrastructure division, which includes its mainframe sales, declined 14.6% to $3.6 billion in revenue.

Persons: Arvind Krishna, James Kavanaugh, Krishna Organizations: IBM, Economic, Revenue, Intel's, Hat Linux, Health, Systems Locations: Davos, Switzerland, Refinitiv

☆ Citi shares its top A.I. picks in software, including two names 'unfairly categorized' as losers
▼ + stars: | 2023-07-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Citi is sharing its top software names to play the booming artificial intelligence market, including two companies it views as "unfairly categorized" as losers. Alteryx shares are down more than 16% this year, while Nice has gained nearly 9%. Radke also said that strong momentum from expanded software and a growing product portfolio should offset fears that AI may hinder Alteryx. Recent analyst day announcements also highlighted ways the company is using AI and machine learning within its data analytics cloud platform, he added. The firm's $70 price target on shares suggests more than 65% upside from Thursday's close, — CNBC's Michael Bloom contributed reporting

Persons: Tyler Radke, MongoDB, Radke, — CNBC's Michael Bloom Organizations: Citi, Nasdaq, Nice Locations: Covid, Israel

☆ Exclusive: Microsoft faces EU antitrust probe after remedies fall short, sources say
▼ + stars: | 2023-07-03 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

Microsoft added Teams to Office 365 in 2017 for free, with the app eventually replacing Skype for Business. Slack alleged that its rival had unfairly integrated workplace chat and video app Teams into its Office product. Microsoft kicked off talks with the European Commission last year in a bid to stave off an investigation. It recently offered to cut the price of its Office product without its Teams app. The European Commission has been seeking a deeper price cut than that offered by the U.S. software giant, the people said.

Persons: Slack, Foo Yun, Mark Potter, David Evans Organizations: Microsoft, EU, Salesforce, Skype, Business, European, European Commission, Thomson Locations: BRUSSELS, EU, U.S

☆ UK regulator may refer Adobe's $20 bln Figma deal to deeper probe
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - Britain's competition regulator on Friday said Photoshop owner Adobe Inc's (ADBE.O) $20 billion buyout of cloud-based designer platform Figma may be referred to a deeper investigation as it could "reduce innovation". The Competition and Markets Authority (CMA) said unless the parties offer acceptable undertakings to address competition concerns, the deal would be referred to a Phase 2 investigation. CMA had said in May it was looking into the deal, announced in September last year. "Adobe has no meaningful plans to compete in the product design space," Adobe said in a statement. "We remain confident in the merits of the case as Figma's product design is an adjacency to Adobe’s core creative products."

Persons: We're, Sorcha O'Carroll, Adobe, Eva Mathews, Radhika Anilkumar, Chavi Mehta, Janane Venkatraman, Angus MacSwan Organizations: Adobe, Markets Authority, CMA, Regulators, Big Tech, Activision, Thomson Locations: U.S, Bengaluru

☆ Salesforce to invest $4 billion in UK on AI innovation
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 29 (Reuters) - Salesforce (CRM.N) will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. Salesforce said it would work with the government to drive the next wave of digital transformation "in this new AI era." "A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses," Salesforce UKI boss Zahra Bahrololoumi said. Earlier in June Salesforce blamed an uncertain U.S. economy and weaker demand from financial services and tech companies for its disappointing quarterly results.

Persons: Brad Smith, Rishi Sunak, Sunak, Salesforce, Zahra Bahrololoumi, Muvija, Sarah Young Organizations: U.S ., Activision Blizzard, NYSE, Thomson Locations: U.S, Britain, British

☆ Microsoft president goes to Europe to shape AI regulation debate
▼ + stars: | 2023-06-29 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

Together with Twitter-owner and Tesla (TSLA.O) CEO Elon Musk, Smith has sought to court regulators and lawmakers with calls for regulating AI, a technology that has drawn massive public interest with the arrival of Microsoft-backed OpenAI's ChatGPT. Big Tech has shared suggestions on how best to regulate AI, which could help to blunt some of the impact of such rules on their business. "Our intention is to offer constructive contributions to help inform the work ahead," Smith said in a blogpost. He said Microsoft's five-point blueprint for governing AI, which includes government-led AI safety frameworks, safety brakes for AI systems that control critical infrastructure and ensuring academic access to AI aligns with the EU's proposed legislation. Smith also urged the EU, the United States, G7 countries, India and Indonesia to work together on AI governance in line with their shared values and principles.

Persons: Brad Smith, Elon Musk, Smith, Foo Yun Chee, Barbara Lewis Organizations: Microsoft, Twitter, Big Tech, European, EU, Thomson Locations: BRUSSELS, U.S, Brussels, Washington, United States, India, Indonesia

☆ There is 'a lot of room' for Oracle to take market share in Cloud Infrastructure: Citi
▼ + stars: | 2023-06-13 | 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 EmailThere is 'a lot of room' for Oracle to take market share in Cloud Infrastructure: CitiTyler Radke, Research Director & Co-Head U.S. Software at Citi Research says there's a lot of momentum in Oracle's Cloud Infrastructure business, and thinks the company can benefit from the AI wave.

Persons: Citi Tyler Radke Organizations: Oracle, Cloud Infrastructure, Citi, U.S, Software, Citi Research

☆ ChatGPT, AI Tech Will Worsen America's Loneliness Crisis, Friendship Recession
▼ + stars: | 2023-06-07 | by ( Daniel Cox | ) www.businessinsider.com time to read: +14 min

And there are definitely areas where AI chatbots could be useful — especially when it comes to business. Artificial IntimacyThe shift toward AI relationships isn't just a theoretical possibility: Some entrepreneurs and companies are already working to create chatbot-driven connections. While it has garnered a lot of attention, CarynAI isn't the first attempt at providing people with companionship through an AI chatbot. Snap recently deployed its own AI chatbot, called My AI, aimed at supplementing social interactions on the app. In researching new AI chatbots, I was struck by the missed opportunity for disconnected people to forge new connections.

Persons: ChatGPT, Derek Thompson, —, you've, Eric Klinenberg, Jenny Leigh, isn't, Caryn Marjorie, Marjorie, Caryn, CarynAI, Replika, Evan Spiegel, Joshua Bote, Zers, Brent Orrell, Daniel Cox Organizations: Pew Research Center, University of Pennsylvania, Software, New York, Washington Post, San Francisco Chronicle, Brown University, Hasbro, Science Foundation, Survey Center, American Enterprise Institute Locations: New York City

☆ AI Tech Like ChatGPT Will Make Americans More Lonely
▼ + stars: | 2023-06-07 | by ( Daniel Cox | ) www.businessinsider.com time to read: +14 min

☆ 'Uber crowded' trades from professional investors are crushing the market, Jefferies says
▼ + stars: | 2023-06-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Professional investors' high-conviction bets have paid off this year, significantly beating the S & P 500 , according to Jefferies. These stocks have led the market this year amid Wall Street's obsession with what investors consider safe earnings, and all things tied to artificial intelligence. Microsoft is another red-hot AI bet as the company recently expanded a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI, marking the third phase of their partnership. Microsoft shares are up about 39% in 2023. The company recently increased its projections for income and net new recurring revenue from its Digital Media business for the full year.

Persons: Jefferies, Bill Ackman, Stanley Druckenmiller, Dan Loeb Organizations: Big Tech, Microsoft, Meta, Google, Nvidia, Software, Adobe, Digital Media, Horizon Therapeutics

☆ Microsoft keyboard users are ‘so devastated’ after discontinuation of accessories
▼ + stars: | 2023-05-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +10 min

He switched newspapers in 1998 and bought the newer model, the Microsoft Natural Keyboard Elite. A study had shown that 22 out of 23 people preferred the geometry of the Natural Ergonomic Keyboard 4000 over the older Microsoft Natural Keyboard Pro. In 2022, he bought a Microsoft Ergonomic Keyboard for his house in Palm Beach Gardens, Florida, and another one for when he was working at a client's office. Zoom In Icon Arrows pointing outwards From top to bottom, Matt Steinhoff's home collection includes the Microsoft Ergonomic Keyboard he uses every day, a Microsoft Natural Ergonomic Desktop 7000 keyboard someone gave him and his old Microsoft Natural Ergonomic Keyboard 4000, which he keeps around as a backup. The model costs $129.99 on Amazon, twice the price of the discontinued Microsoft Ergonomic Keyboard.

☆ Japanese Moon Lander Crashed Because It Was Still Three Miles Up, Not on the Ground
▼ + stars: | 2023-05-26 | by ( Kenneth Chang | ) www.nytimes.com time to read: +3 min

The Beresheet lander, from an Israeli nonprofit named SpaceIL, launched to the moon in 2019, but it crashed. The Indian Space Research Organization attempted to land a lunar spacecraft the same year, too, and that vehicle, Vikram, also crashed. Only China has landed robotic spacecraft on the moon recently, with three successes in three attempts over the past decade. Ispace had obtained insurance for the lander, and the financial impacts on the company would be small, Mr. Hakamada said. The Indian space agency also announced this week that Chandrayaan-3, a follow-up to its moon landing attempt in 2019, could launch as early as July 12.

Persons: ”, Ryo Ujiie, “, Vikram, Takeshi Hakamada, ” Mr, Hakamada, Ispace Organizations: Draper Laboratory of Cambridge, NASA, Lunar Reconnaissance, Indian Space Research Organization, Technology, Pittsburgh, Houston Locations: China

☆ Welcome to the final phase of software eating the world. SaaS companies beware, you're on the menu this time.
▼ + stars: | 2023-05-22 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +7 min

This could disrupt the way software is created, distributed, and used, VCs and startup founders say. This outcome would flip the traditional software industry on its head, calling into question the value of SaaS companies in a world where everyday people can build software themselves. "This is the final chapter of software eating the world, where a bunch of people can create enterprise software within the enterprise." A 'healthy pressure' for traditional SaaS providersTo be sure, the death of the traditional software company still seems a long way off. However, even skeptics admit that the threat of generative AI to traditional SaaS will push established software companies to prove their worth.

☆ AI boom could expose investors’ natural stupidity
▼ + stars: | 2023-05-19 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

Indeed, enthusiasm about AI has become the one ray of light piercing the stock market gloom created by the record-breaking rise in U.S. interest rates. It’s a good moment for investors to be especially alert to the tendency of natural stupidity to drive stock market valuations to unrealistic – and therefore ultimately unprofitable – extremes. However, the most important lessons of behavioural economics relate to a more fundamental question: Will the new generation of AI do what it promises? Behavioural economics offers some cautionary tales for such attempts to apply AI in the wild. For example, stock market returns can be affected by a small number of rare but extreme movements in share prices.

☆ A.I. software predicts if movies will be a box office hit or flop
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. software predicts if movies will be a box office hit or flopDavid Steinberg, Zeta Global CEO, joins 'Last Call' to discuss the upcoming summer blockbuster season and his companies A.I. tech to predict the next hit movie.

☆ ARK Venture forecasts market for A.I. software to reach $14 trillion by 2030
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK Venture forecasts market for A.I. software to reach $14 trillion by 2030William Summerlin, ARK Venture co-lead, joins 'Squawk on the Street' to discuss ARK's Tesla holding and Musk's comments to CNBC's David Faber after Tesla's shareholder meeting.

☆ Microsoft wins EU antitrust approval for Activision deal vetoed by UK
▼ + stars: | 2023-05-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +4 min

[1/2] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. Microsoft has in recent months signed licensing deals with Nvidia (NVDA.O), Nintendo (7974.T), Ukraine's Boosteroid and Japan's Ubitus to bring Activision games to their platforms should the deal go through. "The European Commission has required Microsoft to license popular Activision Blizzard games automatically to competing cloud gaming services. CLOUD GAMING MARKET GROWTHVestager said the Commission had a different view from UK regulators of how the game streaming market, which accounted for just 1% of the total market last year, would develop. "Microsoft and Activision’s lawyers will also use the decision to provide greater ballast to their appeal of the CMA's decision."

☆ The Next Fear on A.I.: Hollywood’s Killer Robots Become the Military’s Tools
▼ + stars: | 2023-05-05 | by ( David E. Sanger | ) www.nytimes.com time to read: +1 min

But at the Pentagon and the National Security Council, there was a second agenda: arms control. If the Chinese military cannot get the chips, the theory goes, it may slow its effort to develop weapons driven by artificial intelligence. That would give the White House, and the world, time to figure out some rules for the use of artificial intelligence in sensors, missiles and cyberweapons, and ultimately to guard against some of the nightmares conjured by Hollywood — autonomous killer robots and computers that lock out their human creators. Now, the fog of fear surrounding the popular ChatGPT chatbot and other generative A.I. software has made the limiting of chips to Beijing look like just a temporary fix.

☆ Adobe's $20 billion Figma buyout deal under UK competition watchdog scanner
▼ + stars: | 2023-05-03 | by ( ) www.cnbc.com time to read: +1 min

Britain's competition watchdog said on Wednesday it was looking into Adobe Inc 's $20 billion buyout deal for cloud-based designer platform Figma to find if it could lead to "substantial lessening of competition" in the country. The move underlines regulators' worries that large tech firms acquiring smaller innovative rivals could throttle competition. UK Competition and Markets Authority (CMA) last week blocked U.S. software giant Microsoft's $69 billion acquisition of "Call of Duty" maker Activision Blizzard over concerns it would hinder cloud gaming. CMA said it has set June 30 as the deadline for its phase 1 decision on the the Adobe-Figma deal. Figma said it would "continue to engage constructively with regulators in the UK".

☆ Software engineers are panicking about being replaced by AI
▼ + stars: | 2023-04-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

AI has already begun to threaten the job security of software engineers. In a separate post, a Blind user created a poll asking whether young software engineers are screwed. Earlier this year, Semafor reported that OpenAI had begun teaching its AI software engineering, and Insider previously reported that AI advancements like ChatGPT have already begun to threaten the job security of software developers. Still, some users are optimistic that AI will be beneficial to software engineers. We made it, it didn't make us," a Microsoft worker wrote in response to the fate of software engineers.

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