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Who will buy TikTok from ByteDance?
  + stars: | 2024-03-14 | by ( Allison Morrow | ) edition.cnn.com   time to read: +6 min
At $100 billion, there are few companies that could afford to buy TikTok outright. Citing people familiar with the matter, the Journal wrote that Kotick “floated the idea of partnering to buy TikTok to a table of people that included OpenAI CEO Sam Altman.”CNN couldn’t independently confirm the report. Its one go at the social media scene, the buggy and short-lived Ping, was one of Apple’s biggest flops. And any tech executive or private equity investor thinking of buying TikTok would need to be prepared to enter the social media quagmire. A key question in assessing the value of a TikTok deal is whether China would allow ByteDance to export its algorithm — the secret sauce that keeps TikTok users glued to their phones.
Persons: CNN Business ’, There’s, Joe Biden’s, who’d, Dan Ives, ” Ives, Who’s, , Gene Kimmelman, OpenAi, Bobby Kotick, Activision Blizzard, , Sam Altman, ” CNN couldn’t, Altman didn’t, doesn’t, quagmire, They’d, Mark Zuckerberg, Shou Chew, It’s, Trump, , Brian Fung Organizations: CNN Business, New York CNN, Senate, Microsoft, Department, Google, ” Meta, Facebook, Street Journal, Activision, ” CNN, Kotick, Apple, Oracle, Walmart, Communist Party, ByteDance Locations: New York, United States, Beijing, Europe, China
Satya Nadella said Google should've been the "default winner" of the Big Tech AI race. He said Google can "bring some competition" to Microsoft in the AI race. Microsoft — not Google — is the AI frontrunner, tech analyst Dan Ives said last year. AdvertisementSatya Nadella said Google "should have been the default winner" of Big Tech's AI race. The Microsoft CEO said the resources available to Google should've made it a frontrunner.
Persons: Satya Nadella, Google should've, Dan Ives, , Nadella Organizations: Google, Big Tech, Microsoft, Service, Norges Bank Investment, Business
House passes TikTok bill: What investors need to know
  + stars: | 2024-03-13 | 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 EmailHouse passes TikTok bill: What investors need to knowDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss what happens if the TikTok bill passes the Senate, if Ives will rerate any of the Big Tech stocks after Wednesday's news, and what it means for retaliatory measures China could place.
Persons: Dan Ives, Ives Organizations: Email, Wedbush Securities, Big Tech Locations: China
The bill would prohibit TikTok from US app stores unless the social media platform is quickly spun off from ByteDance. Some TikTok users posted videos ahead of Wednesday’s vote showing them calling their representatives and threatening to vote for alternate candidates if they voted to pass the bill. “This process was secret and the bill was jammed through for one reason: it’s a ban,” a TikTok spokesperson said in a statement following the Wednesday House vote. That may be even more true after Biden’s likely opponent in November, former President Donald Trump, said he opposed a TikTok ban, a reversal from his stance as president. App stores that violate the legislation could be fined based on the number of users of a banned app.
Persons: , Princess, Wales, TikTokkers, ByteDance, Chuck Schumer, , , Dick Durbin, Joe Biden, ” Durbin, Donald Trump, TikTok, Dan Ives Organizations: New, New York CNN, Foreign, House Energy, Commerce, Senate, Apple, Google Locations: New York, ByteDance, It’s, Montana, United States
Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.
Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas
Investors may want to keep an eye on this artificial intelligence voice-and-speech recognition stock with ties to Nvidia . Shares of SoundHound AI have surged almost 170% this year and nearly 347% in February alone as investors bet on new applications for the booming technology trend that has taken Wall Street by storm. SOUN YTD mountain SoundHound shares in 2024 While the Nvidia investment isn't new news for investors and analysts, it does reinforce SoundHound's value proposition. "With voice enabled units expected to grow to 70% of shipments by 2026, this represents a significant growth opportunity, in our view," he added. He estimates an $11 billion total addressable market when accounting for the immediate opportunities from quick-service restaurants and original equipment manufacturers.
Persons: Dan Ives, Ives, SoundHound, Ladenburg Thalmann's Glenn Mattson, Krispy, Davidson's Gil Luria, Cantor Fitzgerald's Brett Knoblauch, Wainwright's Scott Buck Organizations: Nvidia, Wedbush Securities Locations: Krispy Kreme, Jersey
Read previewThe last thing Tim Cook needs this year is for the iPhone to give him a headache. Unfortunately for Apple, that task could be complicated as signs emerge that its workhorse gadget needs a revamp. In its most recent quarter, Apple generated almost $70 billion of its $119.6 billion total revenue from iPhone sales. China, Apple's most important international market, has started to sour on iPhones, bucking a trend of growth in other regions. Apple's AI efforts, led by ex-Googler and senior vice president John Giannandrea, could introduce several AI features to iPhones that offer an edge over Chinese competitors.
Persons: , Tim Cook, Cook, Steve Jobs, Paul Sakuma, Will Wong, Wong, Wang Gang, Gene Munster, Munster, Dan Ives, John Giannandrea, Siri, Jobs Organizations: Service, Apple, Vision, Business, Macworld, Counterpoint Research, Vivo, Huawei, Wall Street Journal, IDC's, Devices, Research, Asset Management Locations: Cupertino, China, Greater China, Beijing, Singapore, IDC's Asia
Taylor Swift has descended on Southeast Asia, or one small part of it at least: All of her six sold-out shows are in Singapore, the region’s wealthiest nation. The shows — and the undisclosed price that Singapore paid to host them — have also generated diplomatic tension with two of its neighbors, Thailand and the Philippines. Last month, Prime Minister Srettha Thavisin of Thailand said publicly that Singapore had paid Ms. Swift up to $3 million per show on the condition that she play nowhere else in Southeast Asia. A lawmaker in the Philippines later said that was not “what good neighbors do.”
Persons: Taylor Swift, Swift’s, Srettha, Swift, Organizations: Singapore Locations: Southeast Asia, Singapore, Thailand, Philippines
Apple's slump is a buying opportunity, says Wedbush's Dan Ives
  + stars: | 2024-03-05 | 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 EmailApple's slump is a buying opportunity, says Wedbush's Dan IvesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Wedbush's Dan Ives, Brian Sullivan, Organizations: CNBC
Cargo Ship Struck by Houthis Sinks in Red Sea, U.S. Says
  + stars: | 2024-03-03 | by ( Mike Ives | ) www.nytimes.com   time to read: +4 min
She is scheduled to meet with Benny Gantz, a member of the Israeli war cabinet, in Washington on Monday. Vice President Kamala Harris is scheduled to meet with Benny Gantz, a member of the Israeli war cabinet, in Washington on Monday, according to a White House official and a spokesman for Mr. Gantz. Mr. Gantz, who visited Washington last year, is also scheduled to meet separately with Jake Sullivan, the national security adviser, his office said in a statement, as well as with members of Congress and pro-Israeli lobbyists. It was unclear whether Mr. Gantz’s visit had the full backing of the Israeli prime minister, Benjamin Netanyahu. Mr. Gantz’s office said he had updated the prime minister on his visit so as to coordinate talking points.
Persons: Kamala Harris, Benny Gantz, Gantz, Harris, Biden, Israel, Jake Sullivan, Gantz’s, Benjamin Netanyahu Organizations: Monday, White, White House, United, Reuters, Palestinian, Mr Locations: Washington, Gaza, Israel, court, United States, Rafah
Read previewAI-powered tech hardware is having a moment. Since OpenAI launched ChatGPT in November 2022, companies have been racing to cash in on the generative AI hype. Some companies are taking their AI efforts to the next level: integrating AI into flashy new consumer devices. Jony Ives, a tech analyst, called this new frontier of hardware innovation "the golden goose" for tech leaders in the next decade. AdvertisementRumors are swirling that Sam Altman, the CEO of OpenAI, is working with Jony Ives, the designer of the iPhone, on building a consumer AI device.
Persons: , OpenAI, Jony Ives, Sam Altman Organizations: Service, Meta, Google, Business, Apple, Bloomberg
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple pulling out of EV project was the right move, says Wedbush's Dan IvesDan Ives, Wedbush Securities analyst, and Gil Luria, D.A. Davidson senior software analyst, joins 'Squawk on the Street' to discuss each analyst's take on Apple's move out of automobiles, any idea how much capital Apple put towards its electric vehicle ambitions, and much more.
Persons: Wedbush's Dan Ives Dan Ives, Gil Luria, D.A Organizations: Apple, Wedbush Securities, Davidson
In the last 15 months, Wall Street analysts have hailed generative AI as the most impactful innovation in decades and compared its theoretical impact to that of the internet. While the full impact of AI isn't clear yet, companies are under immense pressure to convince investors that they're not falling behind. "We can't envision any of these large cloud companies or consumer companies pulling back on AI spending anytime soon," Colello said. UBS"This is not always a harbinger of slowing revenue growth and a concentrated H200/B100 launch could be adding to near-term opex," Arcuri wrote in a recent note. AdvertisementDespite what Nvidia's recent performance suggests, Wall Street is notoriously tough to please.
Persons: , Morgan Stanley, Steve Sosnick, Wedbush's Dan Ives, who's, Marcelli, they're, Sosnick, Brian Colello, Colello, They're, we're, Vivek Arya, Arya, Michael Landsberg, Landsberg, Jason Draho, Draho, Timothy Arcuri, Arcuri Organizations: Service, Wall Street, Business, Nvidia, Interactive, Bulls, Bank of America, Wedbush Securities, UBS, UBS Global Wealth Management, Morningstar, Landsberg Bennett, Wealth Management
A man set himself on fire on Sunday afternoon outside the Israeli Embassy in Washington, according to the Metropolitan Police Department. A U.S. Air Force spokeswoman, Ann Stefanek, confirmed on Sunday night that the man was an active-duty airman. The man was taken to a nearby hospital with life-threatening injuries and remains in critical condition. No embassy staff members were injured, and all were accounted for, according to Tal Naim, a spokeswoman for the embassy. The New York Times could not confirm who was behind the account that posted the video, but the video featured a man walking toward the Israeli Embassy in Washington.
Persons: Ann Stefanek, Vito Maggiolo, Tal Naim, , , dousing, Sean Hickman Organizations: Embassy, Metropolitan Police Department, U.S . Air Force, U.S, Secret Service, New York Times, Air Force, Alcohol, Tobacco, Firearms, Explosives, Israel, International Locations: Washington, U.S, Gaza, Texas, Israel, Atlanta
Peter Anthony Morgan, the lead singer of the reggae band Morgan Heritage, a Grammy Award-winning group that was formed by children of the singer Denroy Morgan and came to be known for its varied influences and tight vocal harmonies, died on Sunday. Mr. Morgan’s family confirmed his death in a statement on the band’s social media platforms. Mr. Morgan, known as “Peetah,” started Morgan Heritage with seven of his siblings in the 1994. For some early albums, including “Protect Us Jah” (1997) and “Don’t Haffi Dread” (1999), Morgan Heritage worked with Bobby Digital, one of Jamaica’s most influential producers. Before a show at New York City’s Irving Plaza in 1999, a New York Times music critic wrote that the band “holds on to the 1970s reggae traditions of harmony singing and thoughtful messages.”
Persons: Peter Anthony Morgan, Morgan, Denroy Morgan, Morgan’s, , Morgan Heritage, Bobby Digital Organizations: Morgan Heritage, Associated Press, Irving Plaza, New York Times Locations: New
AI is having a '1995 moment'
  + stars: | 2024-02-23 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +3 min
Read previewArtificial intelligence is having a 90s-like boom — and one analyst says Nvidia is leading the charge. "This is a 1995 Moment as now the AI Revolution and $1 trillion of incremental spending over the next decade is hitting the software ecosystem and rest of tech sector," Dan Ives, a tech analyst at Wedbush Securities, wrote in a recent analyst note. "The AI Revolution starts with Nvidia and in our view, the AI party and popcorn is just getting started," Ives said. "We started the AI journey with the hyperscale cloud providers and consumer internet companies," Huang said. "We're really just getting started," Huang said.
Persons: , Dan Ives, Ives, Nvidia didn't, Jensen Huang —, Nvidia who's, Huang Organizations: Service, Nvidia, Wedbush Securities, Business, Adobe, Oracle
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe AI party has already begun, says Wedbush Securities' Dan IvesDan Ives, Wedbush Securities, joins 'Squawk on the Street' to discuss why 1995 is an analog to where equity markets are right now, inventory corrections on a quarterly basis, and the multiplier effect for companies operating in the AI space.
Persons: Dan Ives Dan Ives Organizations: Wedbush Securities
The stock surged 14% in premarket trading, putting it on course to boost its value by $240 billion. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHere's how analysts are reacting to Nvidia's latest report. Advertisement"This was a 'game-changing moment' for the tech bulls and puts jet fuel in the tech bull market thesis," he added.
Persons: , it's, Jensen Huang, Kathleen Brooks, XTB, we've, Brooks, hadn't, Dan Ives, AI Jensen, Ives, Jason Hollands, Hollands, Russ Mould, AJ Bell, Mould Organizations: Nvidia, Service, Nikkei, Big Tech Locations: Europe, Bestinvest
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJensen spoke and the market listened, says Wedbush's Dan Ives on Nvidia earningsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Email Jensen, Wedbush's Dan Ives, Brian Sullivan, Organizations: Nvidia, CNBC
Ben BroomfieldFaux furFleecy, fuzzy or fine: Faux fur was a key textile on the London runways. Ben Broomfield/Ben Broomfield @photobenphotoRobyn Lynch gave the white anorak a romantic silhouette during her Fall-Winter 2024 show. Maja SmiejkowskaStaged in a Gothic Revival church in East London, Dilara Findikoglu's show was a twisted fantasy. Dilara FindikogluSinead O'Dwyer, whose collection was inspired by a not-so-appropriate take on office wear, led the charge on diverse casting this season. Chris YatesModel on the runway at Molly Goddard RTW Fall 2024 as part of London Ready to Wear Fashion Week held at the Cecil Sharp House on February 17, 2024 in London, England.
Persons: scrappy, Vivienne Westwood, Alexander McQueen, John Galliano, Jonathon Ferris, John Malkovich, Maximilian Raynor’s, Harris Reed, Victoriana, — Conner Ives, Sinead Gorey —, Ives, Gorey, Maria Callas —, JW Anderson, Jonathan Anderson, , Amy Winehouse’s, Lily Cole, Agyness Deyn, Edward Crutchley, Stephen Jones ’ millinery, Molly Goddard’s, ” Goddard, ” Molly Goddard, Ben Broomfield, Broomfield, Simone Rocha, Jean Paul Gaultier, Queen Victoria, Conner Ives, Precious Lee, Sinead Gorey, Johanna Parv, Parv, Daniel Lee, moleskin, Henry Nicholls, Robyn Lynch, Lynch upcycled outerwear, Ben Broomfield @photobenphoto Robyn Lynch, Chris Yates, Naomi Campell, Joe Maher, Daniel Lee's, Filippo Fior, Burberry Erdem, Giovanni Giannoni, Jason Lloyd Evans, Jason Lloyd Evans Harris, Marc Hibbert Jonathan Anderson's, JW Anderson “, ” Anderson, ” JW Anderson, Ben Broomfield Sinead Gorey, Eamonn M . McCormack, Aldama Precious Lee, Maja Smiejkowska, Dilara, Dilara Findikoglu Sinead O'Dwyer, Chris Yates Lottie Moss, Kate Moss's, Sinead O'Dwyer, Molly Goddard RTW, Cecil Sharp, Aitor Rosas Sune, WWD, Rosas Sune, Molly Goddard's frilly, Ahluwalia Organizations: London CNN, Central Saint Martins, Tate, JW, Fashion, Burberry, British Vogue, Jean Paul Gaultier couture, Getty, ., Company, British Museum, Getty Images Locations: London, Tate Britain, East London’s, Paris, AFP, Irish, East London, England, Nigeria
The company also has promised to wall off U.S. user data from its parent company through a separate entity run independently from ByteDance and monitored by outside observers. TikTok says new user data is currently being stored on servers maintained by the software company Oracle. The AP-NORC poll shows TikTok users — about 170 million in the U.S., most of whom skew younger — are less likely to be worried about the app sharing American users' data, reflecting a previously felt generational divide. The Biden campaign has said it is using a separate cellphone for TikTok to isolate the app from other communications and was taking additional steps for protection. The poll also found that about 6 in 10 U.S. adults — and 41% of daily TikTok users — are “extremely or very concerned” about the amount of time children and teenagers spend on TikTok.
Persons: Joe Biden’s, TikTok, , Dan Ives, Biden, Mark Warner, ” Warner, , Alex Haurek, Vivek Ramaswamy, influencers, , it’s, Linley Sanders, ___ Organizations: The Associated Press, NORC Center for Public Affairs Research, U.S, Oracle, Foreign Investment, Commerce Department, Wedbush Securities, European Union, Senate, Virginia Democrat, Republican, Union Locations: U.S, Beijing, Virginia, India, Washington
The private rocket company SpaceX has switched where it is incorporated to Texas from Delaware, its founder, Elon Musk, said on Wednesday, weeks after a Delaware judge voided his pay package at Tesla, another company he owns. A spokeswoman for Ms. Nelson’s office did not immediately respond to a request for comment. Mr. Musk, a billionaire who lives in Texas and also runs the carmaker Tesla, has had issues with Delaware. Last month, a judge there voided the pay package that had helped to make him the world’s wealthiest person. The judge ultimately ruled that Mr. Musk had effectively overseen his own compensation plan, valued at more than $50 billion last month, with the help of compliant board members.
Persons: Elon Musk, Jane Nelson, Musk Organizations: SpaceX, Tesla Locations: Texas, Delaware
Motorbikes — the preferred mode of transport in Vietnam — are piling up in impound lots in Ho Chi Minh City as it becomes more cost effective for some owners to abandon them than to pay the fines to get them back. The city, Vietnam’s financial center, has gotten more aggressive in targeting drunken driving in recent years by raising fines and confiscating vehicles. Those fines are now often higher than the value of the vehicles, which many drivers are not reclaiming, officials say. Now the police are wondering what to do with them.
Locations: Vietnam, Chi Minh
In the aftermath of that storm, safety experts offered advice on how people can stay safe if they are stuck in their vehicles. First, do not leave your car, experts said. If you run out of water, drink melted snow, Dr. Mitchell said. Drive slowly to avoid skidding, and note that it takes longer to decelerate in icy road conditions, according to AAA. Drivers should inspect tires monthly and before long trips, according to guidance issued by the National Highway Traffic Safety Administration.
Persons: Ken Zafren, , Gordon Giesbrecht, Steve Mitchell, Grant Lipman, Mitchell, Lipman Organizations: Woodrow, Stanford University, Alaska Native Medical Center, University of Manitoba, Credit, . Virginia Department of Transportation, Associated Press, American Kennel Club, National Weather Service, AAA, National, Traffic Safety Administration Locations: Alexandria, Va, Virginia, Alaska, Anchorage , Alaska, Seattle, Fredericksburg
The wintry mess left both parties racing to rewrite last-minute campaign plans and sophisticated models to understand how the storm might affect turnout. But many Republican voters still prefer to vote on Election Day, and their party is accustomed to closing a gap. The party has won nearly every major election on Long Island since 2021, partly on the strength of its turnout operation. Peter T. King, a former Republican congressman, conceded that the snow could cost his party a couple of percentage points. Still, he predicted that the recently revived Nassau County Republican machine was up to the task.
Persons: Stephanie Keith, Dave Sanders, The New York Times Stephanie Keith, The New York Times Tom Suozzi, Mazi Pilip, George Santos, ” Steve Israel, , Biden, Santos, Tom Suozzi, Suozzi, Mazi, , ” Jay Jacobs, Peter T, King, committeemen, Suozzi’s, haven’t, Mr, Jacobs, Delia DeRiggi, Bruce Blakeman, Blakeman, Ellen Yan Organizations: The New York Times, The New York Times Credit, Democrat, Republican, Queens and, Republicans, Democratic, Mr, Democratic Party, Nassau County Republican, Legislature Locations: Nassau, New York, Queens and Long, New York City, Long, Nassau County, North Shore, Whitton
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