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A Home Depot store is shown in the Little Havana neighborhood in Miami, Florida, September 18, 2015. "Mega-retailers are returning to 'just-in-time' inventory strategies, killing the 'just in case' promise of the pandemic's supply chain snarl," said Susquehanna analyst Bascome Majors. During the second quarter, the Big 4 retailers combined reduced inventories by 4%, the largest quarter-over-quarter drawdown since 2015, Majors said in a client note. No longer swimming in unsold merchandise puts them in a better position to bring in new seasonal goods for the all-important peak holiday season. Despite enthusiasm for new seasonal products, retailers remain cautious.

Persons: Joe Skipper, Bascome Majors, Majors, Susquehanna's Majors, Lisa Baertlein, Bill Berkrot Organizations: REUTERS, Susquehanna, Walmart, Big, Thomson Locations: Little Havana, Miami , Florida, U.S, United States, splurging, Los Angeles

Leading the round alongside BlackRock, the world's biggest asset manager, were Canada Pension Plan, Ontario Municipal Employees Retirement System and, as previously reported, pension investor Investment Management Corporation of Ontario. The fresh funds will help the firm expand its factory footprint, Hartman said. Separately, Northvolt has assembled its first energy storage system products in Poland and expects to start customer deliveries from later this year. "We have a business plan... we always want to make sure we have access to the markets," Hartman said. Reuters has previously reported, citing sources, that Northvolt was preparing for an initial public offering that could value the company at more than $20 billion.

Persons: Helena Soderpalm, IMCO, Northvolt, Alexander Hartman, Goldman Sachs, Baillie Gifford, Swedbank, Singapore's, Chow, Hartman, Supantha Mukherjee, Simon Jessop, Mark Potter Organizations: REUTERS, BlackRock, Reuters, Management Corporation of Ontario, Volkswagen, Chow Tai Fook Enterprises, BMW, Volvo, Thomson Locations: Vasteras, Sweden, BlackRock, Canada, STOCKHOLM, LONDON, Swedish, Europe, North America, Ontario, Hong Kong, Germany, United States, Scania, Poland, Stockholm, London

☆ Sweltering summer bodes ill for Georgia's strays
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - In the blistering heat of a Caucasian summer, Tbilisi's stray dogs and cats are struggling to survive. According to activists, around 500,000 stray dogs and cats live in the country alongside 3.7 million humans. But with Georgia setting new temperature records amid Europe's rolling heatwave, Tbilisi's animals have been suffering. "The attitude was not very good," said Mariam Tsertsvadze, another Animal Project co-founder. "It’s so hard in Georgia to find new owners and forever homes for cats and dogs," he said.

Persons: Natia Chikovani, Mariam Tsertsvadze, Keso Baramidze, Tsertsvadze, It’s, Roman Churikov, Felix Light, Giles Elgood Organizations: Thomson Locations: Georgia, Tbilisi

☆ China's economy is flailing. Here's how its problems could spill into global markets.
▼ + stars: | 2023-08-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

China's economy is facing headwinds ranging from an unstable property market to weak consumer demand. Experts told Insider that a worsening scenario in China bodes poorly for global markets and other economies like the US. "As its economy continues facing downward pressures, its growth momentum might slow down further, in turn exacerbating the already significant pressures that the global economy is facing." One way this is already being felt is in the softening of Chinese demand, which has led to a sharp drop in trade. And as the housing crisis deepens, it will become harder to China to right the ship, creating a lasting drag on future global growth.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Evergrande, Alfredo Montufar, Helu, Keith Hartley, Hartley, Noah Sheidlower, Dexter Roberts, David Roche, they're, Roche Organizations: Service, Privacy, China, Country Garden Holdings, China Center, Conference Board, Federal Reserve, Atlantic Council, Housing, Independent, CNBC Locations: China, Wall, Silicon, U.S

An employee arranges shopping carts outside a Walmart store in Chicago, Illinois, U.S., November 20, 2018. Shares in Walmart, which have climbed 12.3% this year, were up about 3% in premarket trading. Smaller rival Target (TGT.N) on Wednesday beat quarterly profit estimates, benefiting from leaner inventory, but in contrast to Walmart, cut its forecast for the year. Online sales rose 24% in the second quarter, mainly driven by double-digit growth in store-fulfilled pickup and delivery. The company's global advertising business, called Walmart Connect, rose 35%.

Persons: Kamil Krzaczynski, Hogan, John David Rainey, Aishwarya Venugopal, Siddharth Cavale, Sriraj Kalluvila, Sharon Singleton Organizations: Walmart, REUTERS, Walmart Inc, Riley, Walmart's, Wednesday, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru, New York

☆ US housing starts surge in boost to economy
▼ + stars: | 2023-08-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The sharp rebound in groundbreaking on single-family housing units reported by the Commerce Department on Wednesday was another sign of the economy continuing to defy dire forecasts of a recession. Single-family housing starts, which account for the bulk of homebuilding, jumped 6.7% to a seasonally adjusted annual rate of 983,000 units last month. The increase in groundbreaking was led by the West, where single-family starts soared 28.5%. Overall housing starts increased 3.9% to a rate of 1.452 million units in July. TIGHT SUPPLYDespite the rise in starts, housing supply is likely to remain tight.

Persons: Mike Blake, homebuilding, Christopher Rupkey, Freddie Mac, Nancy Vanden, Daniel Silver, Goldman Sachs, Lucia Mutikani, Chizu Organizations: REUTERS, WASHINGTON, Commerce Department, Federal, National Association of Home Builders, Reuters, Oxford Economics, Treasury, Realtors, U.S, Fed, JPMorgan, Thomson Locations: San Marcos , California, U.S, New York, homebuilding, Nancy Vanden Houten, Midwest

☆ Asia stocks stall at one-month lows as slowing China cuts rates
▼ + stars: | 2023-08-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

Industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. J.P. Morgan analysts warned of a "vicious cycle" of real estate financing challenges and said trust defaults could wipe 0.3% to 0.4% from China's growth directly. The S&P 500 (.SPX) rose 0.6% overnight and futures rose 0.1% in Asia. European futures rose 0.4%. In bond markets, benchmark 10-year Treasury yields rose 2 basis points to 4.20% on Tuesday.

Persons: Androniki, HSI, Morgan, John Vail, Morgan Stanley, Tom Westbrook, Jamie Freed Organizations: Nikkei, REUTERS, China, SYDNEY, Reuters, Property, Nomura, HK, International Trust Co, Nikko Asset Management, U.S, Nvidia, Brent, Thomson Locations: Tokyo, Japan, China, Asia, Pacific, China’s, JAPAN, Australia

☆ US retail spending picked up sharply in July
▼ + stars: | 2023-08-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

It was also the fourth straight month that retail sales increased. Retail sales, which are adjusted for seasonality but not inflation, rose 0.7% in July from the prior month, the Commerce Department reported Tuesday. Spending rose on nondurable items, such as clothing and sporting goods. Excluding spending at gasoline stations, retail sales rose 0.8% in July from the prior month. “Goods consumption is holding up even as services spending has taken up an increasing share of household’s wallets.

Persons: —, TJ Maxx, ”, Nikki Baird, Barbie, Taylor, Beyoncé, Taylor Swift, Gregory Daco, haven’t, Wells Organizations: DC CNN, Retail, Commerce Department, Commerce, Walmart, Target, Federal Reserve, Wall Street, Fed, “ Retailers Locations: Washington, EY

☆ Biotech M&A Rebound Bodes Well for Venture Investors
▼ + stars: | 2023-08-10 | by ( Brian Gormley | ) www.wsj.com time to read: 1 min

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Organizations: Wall Street

☆ Investors are 'sleepwalking' into market turmoil and a recession early next year, top economist Steve Hanke warns
▼ + stars: | 2023-08-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Investors are ignoring the risks of market turmoil and a recession in early 2024, Steve Hanke warns. The full impact of the decline in US money supply hasn't been felt yet, he says. Hanke is worried about the federal debt, but doesn't see BRICS nations threatening dollar dominance. "I'm saying, 'No, we haven't seen the decline in the money supply hit the real economy yet,'" Hanke continued. "Money is a fuel that runs the economy, and we had a huge buildup of excess fuel," Hanke said.

Persons: Steve Hanke, hasn't, Hanke, Johns Hopkins, We're, Ronald Reagan Organizations: Service, Johns, Stansberry Research Locations: Wall, Silicon

☆ Bubble tea will test limits of China’s consumers
▼ + stars: | 2023-08-08 | by ( Thomas Shum | ) www.reuters.com time to read: +3 min

HONG KONG, Aug 8 (Reuters Breakingviews) - Bubble tea may be the new bellwether for the Chinese consumer. At least half a dozen boba-drink makers, including China’s largest chain by store count, Mixue Bingcheng, are planning initial public offerings in Hong Kong or the United States, Bloomberg reports. Shares in Hong Kong-listed Nayuki (2150.HK), the country’s only publicly traded bubble tea chain, have dropped 70% since their debut in 2021. Follow @t__shum on TwitterCONTEXT NEWSAt least six bubble tea companies are looking to go public in either Hong Kong or the United States, Bloomberg reported on July 24 citing people familiar with the matter. In 2022, China’s biggest bubble tea chain by store count, Mixue Bingcheng, filed for a $918 million initial public offering in Shenzhen.

Persons: Mixue, Gen, Mixue Bingcheng, Robyn Mak, Katrina Hamlin, Pranav Kiran Organizations: Reuters, Bloomberg, HK, KFC, Haidilao, Refinitiv, Thomson Locations: HONG KONG, Hong Kong, United States, Beijing, China, Shenzhen

☆ Elon Musk's touted successor left Tesla after a 13-year stint under the billionaire, which 'is like working 50 years for anyone else,' analyst says
▼ + stars: | 2023-08-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Zachary Kirkhorn worked 13 years under Elon Musk until he confirmed Monday that he's leaving Tesla. That number of years working for Musk is like "working 50 years for anyone else," Gene Munster said. Kirkhorn did not say why he's leaving Tesla, but called his time there a "special experience." "He's done a 13-year tour of duty working for Elon, which is like working 50 years for anyone else," Munster told Bloomberg. In his announcement on LinkedIn, Kirkhorn didn't say why he left Tesla, but thanked Musk and called his time at Tesla a "special experience."

Persons: Zachary Kirkhorn, Elon Musk, Gene Munster, Kirkhorn, Elon, Munster, Tesla, Zach, Musk, Dolly Singh Organizations: Elon, Tesla, Elon Musk's, Bloomberg, Munster, Deepwater Asset Management, SEC, LinkedIn, Twitter, Wired, SpaceX Locations: Minnesota, Munster, Tesla

☆ Australia hails 'Princess Mary' after Denmark defeat
▼ + stars: | 2023-08-08 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

An Australian has graced Denmark's royal family for nearly 20 years since Tasmania-born Mary Donaldson married Frederik, the Scandinavian nation's crown prince. But 20-year-old Fowler, playing as a false nine, is now soccer royalty in Australia after stepping up in Kerr's absence. "Princess Mary Offs Denmark," read the front-page headline in the Sydney Morning Herald newspaper on Tuesday. "Denmark might have Princess Mary but Australia crowned a new queen after a stunning Mary Fowler performance helped the Matildas qualify for the quarter-finals," Martin Gabor wrote in his match report. Australia were upset 3-2 by Nigeria in the group stage when both Kerr and Fowler were absent, the latter due to a head-knock at training.

Persons: Mary Fowler, Asanka Brendon Ratnayake, Sam Kerr, Kerr, Fowler, Caitlin Foord, Hayley Raso, Mary Donaldson, Frederik, Mary Offs Denmark, Mary, Martin Gabor, Tony Gustavsson, Striker Foord, Kerr's, Ian Ransom, Sonali Paul Organizations: Soccer Football, FIFA, REUTERS, Danes, Australia, Canada, Denmark, Sydney Morning Herald, Australian, Thomson Locations: New Zealand, Canada, Melbourne, Australia, Denmark, Sydney, Australian, Tasmania, Nigeria, France, Morocco

☆ China's working population will shrink in the coming decades and keep the nation's economy from surpassing America's, research firm says
▼ + stars: | 2023-08-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Chinese government data showed China's population shrank in 2022 for the first time since 1961. "China's population is not only aging, but is also entering a gathering decline that will be difficult, if not impossible, to reverse," Terry Group researchers noted. The UN projects China's working-age population to shrink by three-fifths by 2100, which in turn will put pressure on young people and government initiatives to support that cohort. For comparison, between 1990 and 2010 when China's demographics were favorable, its working-age population grew 1.7% per year on average. Those figures are on pace to soon reverse, and instead the working-age population will contract at an annual rate of 1%.

Persons: it's, Terry Organizations: Terry, Service, Group, Terry Group, UN, Financial Times Locations: Wall, Silicon, China, Beijing

☆ US labor market resilient; productivity rebounds in second quarter
▼ + stars: | 2023-08-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Other data from the Labor Department on Thursday showed a marked slowdown in labor costs in the second quarter, thanks to a sharp rebound in worker productivity. That added to reports last month showing a significant moderation in annual inflation in June as well as wage growth in the second quarter. Reuters GraphicsWorkers were more productive in the second quarter, which helped to curb growth in labor costs. Nonfarm productivity, which measures hourly output per worker, increased at a 3.7% annualized rate in the second quarter after declining at a 1.2% pace in the January-March quarter, the Labor Department said in a third report. Unit labor costs - the price of labor per single unit of output - rose at a 1.6% rate in the second quarter.

Persons: Andrew Kelly, Bill Adams, Nonfarm payrolls, Sarah House, Lucia Mutikani, Safiyah Riddle, Paul Simao, Andrea Ricci Organizations: REUTERS, WASHINGTON, Federal Reserve, Labor Department, Comerica Bank, Labor, The Institute for Supply Management, Treasury, Reuters, Reuters Graphics Workers, Thomson Locations: Manhattan , New York City, U.S, Dallas, California, Ohio, Texas, Georgia, Missouri, Wells, Charlotte , North Carolina

☆ These Club consumer stocks stand to gain as customers continue to economize
▼ + stars: | 2023-08-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Consumers looking to save money are scaling back on big-ticket discretionary purchases, while spending at Club name Costco Wholesale (COST) continues to thrive. Excluding impacts from changes in gasoline prices and foreign exchange, total company core-comparable sales were up 5% on an annual basis last month. Costco's "stronger than expected results are a signal it continues to take share in this difficult consumer environment," analysts at UBS wrote in a note. This strategy offers higher value proposition to customers, allowing the company to raise prices while still maintaining customer engagement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, BUD, Raymond James, Anheuser, Molson, Elliott, Jim Cramer's, Jim Organizations: Club, Costco Wholesale, Costco, TAG, UBS, Constellation Brands, Modelo Especial, U.S ., Anheuser, Bush Inbev, Molson Coors, TAP, Constellation, Procter & Gamble, Tide, Gillette, Atlantic, Anheuser Bush, Elliott Management, CNBC, Corbis, Getty Locations: U.S, Teterboro , New Jersey

☆ The new 'tone deaf' Bob Iger might just be focused on a Disney and Apple M&A
▼ + stars: | 2023-08-02 | by ( Peter Csathy | Fearless Media | ) www.businessinsider.com time to read: +6 min

Fearless Media is a newsletter about the future of entertainment, media, and tech by Creative Media chairman Peter Csathy . Disney CEO Bob Iger's comments regarding the strikers may hint at his deeper M&A state of mind. For the past decades, Disney CEO Bob Iger has been perhaps the most revered media and entertainment titan, beloved by both employees and Wall Street — a rare feat and balancing act to be sure. SAG President Fran Drescher joined voices across entertainment in calling Iger's comments "tone deaf" and rich for someone who reportedly makes more than 500 times the median salary of Disney employees. Peter Csathy is the founder and chairman of Creativie Media and an internationally recognized media, entertainment, and tech expert.

Persons: Peter Csathy, Bob Iger's, Iger, Bob Iger, —, Fran Drescher, Iger's, Sun, Tim Cook —, Steve Jobs, Rupert Murdoch, Palminteri, Keyser, doesn't bode, Read Organizations: Creative Media, Disney, Morning, Fearless Media, SAG, Mouse House, Marvel, Pixar, Apple, Wall, Fox Television, Wall Street, Hollywood, Creativie Media Locations: Sun Valley, Nice

☆ Small businesses boost US private payrolls in July
▼ + stars: | 2023-08-02 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

REUTERS/Amira Karaoud/File photoSummary Private payrolls increase by 324,000 in JulyWage growth gradually slowingWASHINGTON, Aug 2 (Reuters) - U.S. private payrolls rose more than expected in July as small businesses boosted hiring, pointing to continued labor market resilience that could shield the economy from a recession. Private payrolls increased by 324,000 jobs last month after surging by 455,000 in June, according to ADP. MANUFACTURING DRAGHiring at small business, establishments with one to 49 employees increased 237,000, accounting for more than two-thirds of the gain in private payrolls last month. It has not been a reliable gauge in forecasting private payrolls in the BLS employment report. According to a Reuters survey of economists, the BLS is likely to report that private payrolls increased by 179,000 jobs in July.

Persons: Amira Karaoud, Christopher Rupkey, Nela Richardson, It's, Daniel Silver, Lucia Mutikani, Paul Simao Organizations: REUTERS, Federal Reserve, ADP, Reuters, Treasury, Fed, Stanford Digital Economy, U.S . Bureau of Labor Statistics, BLS, JPMorgan, Thomson Locations: Louisville , Kentucky, U.S, WASHINGTON, New York

☆ US job openings at more than two-year low but still elevated
▼ + stars: | 2023-08-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

There were 1.6 job openings for every unemployed person in June, little changed from May. Economists polled by Reuters had forecast 9.610 million job openings. Reuters GraphicsThere were an additional 136,000 job openings in healthcare and social assistance, while vacancies increased by 62,000 in state and local government, excluding education. The job openings rate was unchanged at 5.8% in June. ISM manufacturing PMIIt has, however, not been a reliable predictor of manufacturing employment in the government's nonfarm payrolls count.

Persons: Elizabeth Frantz, Eugenio Aleman, Raymond James, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Reuters, Federal, Labor, Survey, Labor Department, Employers, Treasury, Institute for Supply Management, PMI, Economists, ISM, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, . U.S

☆ US manufacturing shows signs of stabilizing at lower levels in July, ISM says
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

It was the ninth straight month that the PMI stayed below the 50 threshold, which indicates contraction in manufacturing, the longest such stretch since the 2007-2009 Great Recession. The ISM survey's forward-looking new orders sub-index increased to 47.3 in July. According to the ISM, the delivery performance of suppliers to manufacturing firms has been faster for 10 straight months. It has, however, not been a reliable predictor of manufacturing employment in the government's nonfarm payrolls count. Manufacturing employment likely rose by 5,000 jobs last month, according to a Reuters survey of economists.

Persons: Charles Mostoller, Lucia Mutikani, Paul Simao Organizations: BMW, REUTERS, Reuters Connect WASHINGTON, Institute for Supply Management, PMI, Reuters, ISM, Federal Reserve, Manufacturing, Fed, U.S . Labor Department, Thomson Locations: Greer , South Carolina, U.S

☆ Why JPMorgan's trading desk says a new record high in the S&P 500 'feels inevitable'
▼ + stars: | 2023-08-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

A group of analysts from JPMorgan's trading desk say a new record high for S&P 500 "feels inevitable." The S&P 500 closed at 4,576.73 on Tuesday, less than 5% shy of its record closing level of 4,796.56 reached in January 2022. The fact earnings can beat expectations in an high-rate environment creates the argument for elevated valuations, in their view, and that could push the S&P 500 well beyond record highs. Anastasia Amoroso, iCapital's chief investment strategist, told Insider on Monday that all-time highs indeed look possible for the S&P 500 in the near-term. Steady multiples and fulfilled earnings expectations should be enough to justify the S&P 500 at 4,800 or above."

Persons: Andrew Tyler, there's, that's, it's, Anastasia Amoroso, Amoroso Organizations: Service, Federal Reserve Locations: Wall, Silicon

☆ Chinese are forking out more money for smartphones despite wider slowdown — that's good news for Apple
▼ + stars: | 2023-08-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese consumers are on average spending more on smartphones than ever before, according to new data, which bodes well for U.S. giant Apple in a critical market for its expensive iPhones. The average selling price of smartphones in mainland China was $450 last year and is expected to keep growing this year, market research firm Canalys said in a report last week. International Data Corporation told CNBC that the average selling price for smartphones in China was nearly $470 in the first quarter of this year, up about 5% year-on-year. The rise in ASP signals that the high-end part of the smartphone market remains resilient and that's where Apple competes. This trend is positive for Apple, which was the only vendor in the top five in China to record growth in shipments in the second quarter, Canalys said.

Persons: Canalys, Lucas Zhong, Zhong Organizations: Apple, CNBC, International Data Corporation, IDC, Apple Watch, Android Locations: China

☆ Why substituting cryptocurrency for gold exposure may be a costly mistake
▼ + stars: | 2023-07-29 | by ( Lina Hassen | ) www.cnbc.com time to read: +2 min

State Street Global Advisors' George Milling-Stanley, whose firm runs the world's largest gold exchange-traded fund, believes cryptocurrency is no substitute for the real thing due its vulnerability to big losses. Milling-Stanley's firm is behind SPDR Gold Shares , the world's largest physically backed gold ETF. Milling-Stanley believes gold's 6,000-year history as a monetary asset serves as a significant sample basis to understand the benefits of investing in gold. But Milling-Stanley believes the economic backdrop bodes well for gold — recession or not. It's known as the world's largest consumer of gold jewelry behind India, according to the World Gold Council.

Persons: George Milling, Stanley, cryptocurrency, CNBC's, gold's, It's, Gold Organizations: Street Global Advisors, World Gold, it's Locations: China, India, It's Vietnam, it's Indonesia, it's Thailand, Korea

☆ Google stock jumped 10% this week, fueled by cloud, ads and hope in AI
▼ + stars: | 2023-07-29 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Shares of Alphabet's stock jumped 10% this week after the company reported second quarter earnings that showed growth despite a tough ad market. Among growth, revenue rose 7% to $74.6 billion from $69.7 billion in the year-earlier period. Google's ad revenue only increased 3.3% from a year earlier, but that's an improvement from the first quarter, when ad revenue fell. Google's YouTube and Cloud units also showed revenue growth despite competition. "We believe this bodes well for the broader online advertising environment," Citi analysts wrote in a note about Google's earnings.

Persons: Snap's, Bernstein, Ruth Porat, she's Organizations: Google, YouTube, Microsoft, Citi Locations: OpenAI

☆ Here's why this AI chipmaker continues to outflank the competition
▼ + stars: | 2023-07-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

"But when we go to an AI server, Intel's contribution drops to low-single digit percent, and that's where Nvidia's contribution gets to almost 60%, 70% of the price of the server." Still, it's possible AMD also saw softer demand for its data-center CPUs in the last quarter due to ramped-up AI spending. Like Intel, AMD is also working to bring its own AI-focused chips to market . Yes, Nvidia stock has had a monster run, more than tripling year-to-date, but the fundamental reason for that outperformance — its AI dominance — is completely intact. It remains an "own it, don't trade" stock, alongside Apple (AAPL).

Persons: Pat Gelsinger, —, Vivek Arya, Arya, Intel's, Lisa Su's, Gelsinger, AMD's, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Intel, Nvidia, Club, — Club, Microsoft, CNBC, Bank of America, Devices, AMD, Apple, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California, U.S

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