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In May 2021, Google announced it had agreed to participate in a $1.2 billion cloud computing contract with the Israeli government and military, saying it was “delighted to have been chosen to help digitally transform” the country. But four months earlier, officials at the company had worried that signing the deal, called Project Nimbus, would harm its reputation, according to documents prepared for executives that were reviewed by The New York Times. Google’s lawyers, policy team employees and outside consultants — who were asked to assess the risks of the agreement — wrote that since “sensitive customers” like Israel’s Ministry of Defense and the Israeli Security Agency were included in the contract, “Google Cloud services could be used for, or linked to, the facilitation of human rights violations, including Israeli activity in the West Bank.”The files, which have not been previously reported on, showed that despite Google’s public defense of Nimbus over the last three years, the company once had concerns about the contract similar to those of some employees, who have argued that it pulled Google into a long conflict between Israelis and Palestinians.
Persons: , , Nimbus Organizations: Google, The New York Times, Israel’s Ministry of Defense, Israeli Security Agency, West Bank
One of the initiatives is focused on working more with consulting firms. Accenture was among several consulting firms mentioned by AWS. Amazon Web Services wants to work more with consulting firms, including Accenture, part of a broader plan to spur growth in 2025, according to an internal planning document obtained by Business Insider. So the plan to expand its relationships with outside consulting firms is notable. These plans are part of new AWS growth initiatives that include a focus on healthcare, business applications, generative AI , and the Middle East region, BI reported last week.
Persons: Jill Kramer Organizations: Accenture, AWS, Amazon Web Services, Business, Tata Consultancy, DXC Technology, Cisco Locations: Borno, East
In this article MSFT Follow your favorite stocks CREATE FREE ACCOUNTUKRAINE - 2022/01/07: In this photo illustration a Microsoft Azure logo seen displayed on a smartphone. Microsoft offers a cheaper price to firms running Windows Server on Azure than on direct competitors like AWS, Google's cloud or Alibaba Cloud. The lawsuit argues firms running the widely-used server software are essentially being overcharged to use alternative cloud computing solutions. "By doing so, Microsoft is trying to force customers into using its cloud computing service Azure and restricting competition in the sector." From 2017 to 2022, European cloud firms' market share halved from 27% to 13%, lagging international rivals as the entire European cloud market grew fivefold to 10.4 billion euros ($11 billion), according to data from Synergy Research Group.
Persons: Igor Golovniov, Maria Luisa Stasi, Stasi, it's, Solange Viegas Dos Reis, There's, Dos Reis, OVHCloud Organizations: Getty, Microsoft, Amazon Web Services, Google, Windows, CNBC, Stasi, CMA, Markets Authority, European Commission, EU, Synergy Research, U.S Locations: UKRAINE
The startup computing company aims to rival Nvidia with more affordable AI chips and processing. The nearly $700 million round attracted investors Samsung, Bezos Expeditions, and LG Electronics. In its latest funding round, Tenstorrent, a startup computing company that builds powerful AI hardware and software to compete with Nvidia, attracted big-name investors — including Jeff Bezos and Samsung. A company statement released Monday said its Series D funding round raised $693 million, valuing the AI chip startup at about $2.6 billion, per Bloomberg. Representatives for Tenstorrent, Samsung, and Bezos Expeditions did not immediately respond to requests for comment from Business Insider.
Persons: Jeff Bezos, Tenstorrent, Keith Witek, Ljubisa Bajic, Ivan Hamer, Milos Trajkovic, Jim Keller, Keller Organizations: Nvidia, Samsung, Bezos Expeditions, LG Electronics, Bloomberg, Samsung Securities, AFW Partners, Hyundai Motor Group, Apple, University of California, Tenstorrent, Business Locations: Seoul, Berkeley
AdvertisementOracle shares are set for their best year since 1999 after a 75% surge. Oracle has surged 75% since January, putting the stock on track for its best year since a tripling in 1999 during the dot-com boom. Oracle's soaring stock price has boosted the net worth of Larry Ellison, who cofounded the company and is chief technology officer. The chipmaker's stock has tripled in the past year and it now rivals Apple as the world's most valuable company. Yet Oracle is still headed for its best annual stock performance in a quarter of a century — and its bosses are promising there's more to come.
Persons: Larry, Trump, aren't, Larry Ellison, Elon Musk's, Safra Catz, Catz, Ellison Organizations: Oracle, Exxon Mobil, Mastercard, Costco, Netflix, Forbes, Microsoft, Google, Nvidia, Apple
AdvertisementIntel's CEO Pat Gelsinger stepped down on December 1, the company said Monday. Intel's CEO Pat Gelsinger has stepped down, the company said in a statement Monday as the US-based chipmaker struggles to keep up in the global chip war. Gelsinger leaves the chipmaker with immediate effect, vacating his role both as CEO and as a member of the board. Frank Yeary, Intel's chairman, thanked Gelsinger and said the company needed to restore investor confidence. In 2012, he became CEO of cloud-computing firm VMWare, before returning to Intel as CEO in 2021.
Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, Frank Yeary, Gelsinger, Yeary Organizations: Intel, Nvidia, EMC, Dell, VMWare
And the Club holding should continue to benefit from Intel's woes, including the leadership transition, Jim Cramer said Monday. "It will not help Intel," Jim said. For its part, AMD's nascent AI business is gaining traction, even if it's still dwarfed in size by Nvidia. AMD is "winning big business," Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Pat Gelsinger, Lisa Su, Jim Cramer, David Zinsner, MJ, Jim, Gelsinger, Su, Ben Reitzes, Reitzes, It's, Jim Cramer's, David Paul Morris, Getty Images David Paul Morris Organizations: Intel, Devices, AMD, Morning, CNBC, Nvidia, Club, Wall, Devices Inc, Bloomberg, Getty Images, Getty Locations: Silicon Valley, San Jose , California
AdvertisementOpenAI is seeking to reach 1 billion users by next year, a new report said. Its growth plan involves building new data centers, company executives told the Financial Times. OpenAI is seeking to amass 1 billion users over the next year and enter a new era of accelerated growth by betting on several high-stakes strategies such as building its own data centers, according to a new report. Advertisement"We're in a massive growth phase, it behooves us to keep investing. In September, OpenAI was reported to have pitched the White House on the need for a massive data center build-out, while highlighting the massive power demands that they'd come with.
Persons: OpenAI, Sarah Friar, ChatGPT, Sam Altman, Chris Lehane, they'd, Altman, Friar Organizations: Financial Times, Financial, UBS, US, Apple Locations: OpenAI
AdvertisementIntel CEO Pat Gelsinger is out of the top spot after a challenging 4-year tenure. On Monday morning, Intel employees joined an all-hands meeting after receiving an email invite at 5 a.m. PT. Being CEO of Intel was Pat Gelsinger's dream since he joined the company as a teenager in 1979. But no one at the top has the technical expertise of Gelsinger, which Intel employees pointed out in their questions. No one has been a closer witness to this roller coaster than Intel employees, who have seen multiple waves of layoffs and buyouts.
Persons: Pat Gelsinger, David Zinsner, Michelle Johnston Holthaus, unravels ChatGPT, isn't, Pat Gelsinger's, Alvin Nguyen, Forrester, Gelsinger, Zisner, Holthaus, Intel's, Edward Jones, Said, Frank Yeary, Bernstein, Vivek Arya, Daniel Newman, Logan Purk, Pat, Emma, ecosgrove Organizations: Intel, Bloomberg, Department of Commerce, Nvidia, Gaudi, Bank of America
If compromised, AI systems could be used to interfere with or take control of strategically important national space missions. Critical space infrastructure is susceptible to threats across three key segments: in space, on the ground segment and within the communication links between the two. "In many ways, the threats to critical infrastructure on Earth can cause vulnerabilities in space," Lonstein said. "The consequences of malicious cyber activities include loss of mission data, decreased lifespan or capability of space systems or constellations, or the control of space vehicles." Use of strict access controls, authentication, and error correction mechanisms can further ensure that AI systems operate with accurate information.
Persons: Lonstein, Kaczmarek, Sylvester Kaczmarek, Wayne Lonstein, William Russell, JEM, Elon Musk, Jack Teixeira, GAO's Russell Organizations: SpaceX, NASA, OrbiSky Systems, VFT Solutions, Systems, Space Technologies, U.S, Government, Office, Spacecraft, Space, JAXA, Origin, U.S . National Oceanic, Administration, U.S . Air National, Viasat, Ukraine, Infrastructure Security Agency, Companies, Microsoft, Google, Nvidia, U.S . Space Force, Department of Defense, Space Force Guardians, Space Force, Web Services, Dynamics Locations: U.S, China, Russia, India, Ukraine, Nations, Silicon Valley
Oracle has soared 75% this year, headed for its second-best year on record and best since 1999, when shares roughly quadrupled in price. "The company is delivering a lot of value to its customers," said Dan Flax, senior research analyst at Neuberger Berman. ORCL ALL mountain Oracle, long term Now, refocusing on its cloud infrastructure business has helped Oracle master the AI ecosystem, fueling interest from investors. Still, investors such as Laffer Tengler Investments CEO Nancy Tengler view Oracle as operating in a sweet spot in the worlds of cloud computing and AI inference. "There's not a lot of companies that are growing" at the rate of Oracle.
Persons: ChatGPT, Jensen, That's, Bill Clinton, Dan Flax, Neuberger Berman, Larry Ellison, Elon Musk, hyperscalers, Angelo Zino, Zino, Robert Pavlik, Ellison, Larry, Kim Forrest, He's, Steve Jobs, What's, Forrest –, Nancy Tengler, Tengler Organizations: Oracle, Nvidia, Devices, Microsoft, Forbes, CFRA, Bokeh Capital Partners, Amazon, Tengler Locations: U.S
The latest generation of large language models requires significantly more computing power and energy than previous AI models. As a result, tech leaders are rallying to accelerate the energy transition, including investing in alternatives like nuclear energy. Major tech companies, including Amazon, Google, and Microsoft, have also struck deals with nuclear energy suppliers recently as they advance AI technology. Related storiesMoving to nuclear energyMany tech leaders argue the need for energy solutions is urgent and investing in nuclear energy. AI's energy use is growingTech companies seek new energy solutions because their AI models consume much energy.
Persons: Fabrice Beaulieu, Mark Zuckerberg, Nvidia, Blackwell, Hopper, Jensen Huang, Huang, Sam Altman, Altman, Joe Biden, Cameron Porter, Porter, Trump, OpenAI's GPT Organizations: Tech, Fabrice Beaulieu Big Tech, Meta, Microsoft, Amazon, Google, Nvidia, Hong Kong University of Science, Technology, Economic, Helion Energy, Steel Atlas, McKinsey Locations: Davos, Oklo
To counter that, Jim Cramer has said investors should not lose sight of what can go right for their stocks. Smooth chip updates: AMD needs to successfully carry out its annual release cycle for AI chips. That needs to be sustained to justify Meta's heavy spending on AI chips. Nevertheless, correcting this dynamic should translate into faster revenue growth rates. Palo Alto Networks Bigger deals: Cybersecurity is a secular growth market: As the number of bad actors grows, companies can't afford to not invest in defense.
Persons: Jim Cramer, Abbott, Donald Trump, Trump, Joe Biden, Eaton, Eli Lilly, Eli Lilly's GLP, Lilly, Hurricanes Helene, Milton, Elliott Management's, Elliott, Jim, Linde, Morgan Stanley Lower, Morgan, Biden, , Jensen Huang, Palo, Stanley Black, Brian Niccol's, Wells, Jim Cramer's, Timothy A, Clary Organizations: Abbott, Devices, Microsoft, AMD, Nvidia, Justice Department, Services, Trump, Apple, Apple Intelligence, Federal, Bristol Myers Squibb, Bristol Myers, Broadcom, Constellation Brands, Modelo, Costco, U.S, Netflix, Coterra Energy, LNG, DuPont, GE Healthcare, GE, Hurricanes, Honeywell Business, Honeywell, Linde, Meta, Facebook, Federal Reserve, GOP, Nvidia's, Industry, Palo Alto, Decker, Starbucks, Walt Disney Parks, TJX, Jim Cramer's Charitable Trust, CNBC, Traders, New York Stock Exchange, Getty Locations: U.S, BlackRock, Corona, China, Dover, , New York City
Often overlooked as a behind-the-scenes job, IT support offers competitive salaries, diverse opportunities and flexibility that many fail to recognize, Lisa Gevelber, a vice president at Google and founder of Grow With Google, tells CNBC Make It. The Bureau of Labor Statistics projects that the number of IT support jobs will grow at least 15% in the next decade — more than three times faster than the average for all occupations. There are more than 300,000 unfilled IT support jobs in the U.S. right now, Gevelber points out. On Google, searches for "IT support jobs" and "IT support skills" hit an "all-time high" in 2024, since the search engine started tracking such queries 20 years ago, she adds. Here's how to land a job in IT support — and where to find the best opportunities:
Persons: Lisa Gevelber Organizations: Google, Grow, CNBC, Labor Statistics Locations: U.S
(Photo by Sanchit Khanna/Hindustan Times via Getty Images)This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Raj is looking for jobs outside India and says he is "willing to go anywhere and do anything." "My parents took a [1.9 million Indian rupee] ($22,491) loan for my degree, so I studied hard and interned to find a well-paying job quickly," the 27-year-old, told CNBC's Inside India. Speaking to CNBC's Inside India, Ghosh — a professor formerly at India's Jawaharlal Nehru University and currently at the University of Massachusetts Amherst — noted "there is definitely a jobs crisis in India." This shift in perspective has translated to "brain drain," being considered as a "term from the last century," Sunaina Kumar, a senior fellow at think tank the Observer Research Foundation (ORF), told CNBC's Inside India.
Persons: Sanchit Khanna, Raj, Keshav Raj, Anurag Sinha, Sinha, aspirational, Jayati Ghosh, Ghosh —, University of Massachusetts Amherst —, They've, Ghosh, Sundar Pichai, Satya Nadella, Leena Nair, Subrahmanyam Jaishankar, Sunaina Kumar, Kumar, ORF's Kumar, foundit's Sinha Organizations: Hindustan Times, Getty, ., SRM Institute of Science & Technology, United Arab, India, India's Jawaharlal Nehru University, University of Massachusetts Amherst, International Labour Organization, UN, Microsoft, Institute of South Asian Studies, National University of Singapore, Observer Research Foundation, Bank, South Locations: DELHI, INDIA, Anand, New Delhi, India, Indonesia, Tamil Nadu, Canada, Australia, United Arab Emirates, U.S, Europe, Indian
Nvidia's median salary now surpasses Microsoft's and other Silicon Valley peers. And Nvidia employees were not nearly the source of fascination and interest they are today. AdvertisementThe data behind the evolution of Nvidia's workforce tells the story of the company's meteoric rise just as well, if not better than the revenue or stock price. Nvidia's workforce has grown nearly 20-fold since 2003Beyond Nvidia's historic rise in market value, the company has a lot to offer employees. But as of January 2024, Nvidia's median salary (excluding the CEO) surpassed Microsoft and has left other tech giants in the dust.
Persons: Jensen Huang, Rev Lebaredian, Huang, Jensen, headcount, Emma, ecosgrove Organizations: Nvidia, Tech, Business, Microsoft, Accenture Locations: Santa Clara , California, Silicon Valley
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter told Reuters Wednesday. The investigation was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded such complaints last year as it examined the cloud computing market. The FTC has demanded a broad range of detailed information from Microsoft, Bloomberg reported earlier on Wednesday. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.
Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Reuters, NBC News, Republican, FTC, Amazon, Google, European Commission, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services
AdvertisementInternal AWS documents obtained by BI lay out the cloud giant's growth priorities next year. Amazon Web Services recently laid out new growth initiatives that include a focus on healthcare, business applications, generative AI, and the Middle East region, according to internal documents obtained by Business Insider. These are part of the AWS sales team's priorities for next year and Amazon refers to them internally as "AGIs," short for "AWS growth initiatives," one of the internal documents shows. That was slower than Microsoft's and Google's cloud business, on a percentage basis. Generative AI Innovation CenterLast year, AWS launched a $100 million program called Generative AI Innovation Center, which connects customers with AWS's AI scientists and experts to help launch generative AI solutions.
Persons: Greg Pearson, AWS's, Patrick Neighorn, Matt Garman Frederic J . BROWN Organizations: BI, Microsoft, Google, Amazon Web Services, Business, AWS, Synergy Research, Amazon, Services, Getty, Data Centers, Forbes, Adobe, Gulf Cooperation Council, Center, Accenture, Tata Consultancy Locations: East, AFP, Saudi Arabia, Bahrain, UAE, Israel, Kuwait, Oman, Qatar
A way to get long Nvidia on the dip with less risk using options
  + stars: | 2024-11-27 | by ( ) www.cnbc.com   time to read: +3 min
Following its latest earnings report, which exceeded expectations across all key segments, NVDA is trading at a compelling valuation relative to its peers. From a technical perspective, the recent pullback after the earnings report provides an attractive entry point for bullish exposure with strong risk/reward potential. Its 56% net margin significantly surpassing competitors which highlight why NVDA deserves its premium valuation while still offering substantial upside potential. The trade offers a 2:1 reward-to-risk ratio, providing a favorable way to participate in NVIDIA's expected upside while limiting downside exposure. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: NVDA, Max Organizations: Nvidia, Blackwell, CNBC, NBC UNIVERSAL Locations: OptionsPlay
The FTC, in a letter sent to Microsoft, demanded that it hand over information to assist in the agency’s investigation, a source familiar with the matter told CNN. The FTC and Microsoft declined to comment. Microsoft also battled FTC resistance to its $69 billion acquisition of video game publisher Activision Blizzard, which closed in October 2023. The agency had argued the merger would give Microsoft a monopoly in video game publishing, which the company denied. Trump’s reelection has raised questions about how his administration will handle ongoing antitrust cases against tech giants, including Apple and Amazon.
Persons: Microsoft’s, Donald Trump, Trump, Lina Khan, Khan, hasn’t Organizations: New, New York CNN, Microsoft, Federal Trade Commission, FTC, CNN, Bloomberg, Activision Blizzard, Apple, Google, Justice Department Locations: New York, OpenAI
Microsoft faces wide-ranging U.S. antitrust probe
  + stars: | 2024-11-27 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft , including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday. The probe was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded complaints about Microsoft last year as it examined the cloud computing market. Until now, Microsoft has been somewhat of an exception to U.S. antitrust regulators' recent campaign against allegedly anticompetitive practices at Big Tech companies. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.
Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Republican, FTC, Amazon, Google, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services
— Thanks, Marek We do two things right off the bat after identifying a stock that we might want to buy. Remember, as an investor, you want to know every little aspect of every company whose stock you buy or think about buying. Financial statements In addition to understanding a company from a high level, we can't take a position before analyzing the financial statements and getting a sense of the health of the company in question. All three are incredibly important, however, of the three, the balance sheet is going to be the one to look at first. Knowing what shape the balance sheet is in gives you a better sense of the company's outlook.
Persons: Jim Cramer, Marek, that's, it's, Linde, Myers Squibb, Myers, Karuna, Jim Cramer's, Jim Organizations: Amazon, Linde, Myers, Karuna Therapeutics, Bristol, LIN, CNBC Locations: Bristol
AdvertisementThe rate of AI model improvement appears to be slowing, but some tech leaders say there is no wall. A fierce debate over whether improvements in AI models have hit their limit has taken hold in recent weeks, forcing several CEOs to respond. Others, including Marc Andreessen, say AI models aren't getting noticeably better and are all converging to perform at roughly similar levels. AdvertisementOne solution that companies are exploring is synthetic data, an artificial form of data generated by AI. Aymeric Zhuo, cofounder and CEO of AI startup Agemo, said that AI reasoning "has been an active area of research," particularly as "the industry faces a data wall."
Persons: Sam Altman, Fabrice Beaulieu Dario Amodei, Anthropic, Jensen Huang, Marc Andreessen, Henri Tilloy, Jensen, Justin Sullivan, Matthew Zeiler, Eric Landau, Landau, Sharon Zhou, Zhou, Daniele Panfilo, Bard, it's, Thomas Wolf, Jonathan Frankle, Ilya Sutskever, Satya Nadella, Aymeric Zhuo, Sivesh Sukumar, OpenAI, Noam Brown, It's, Adam Selipsky, Dario Amodei, Noah Berger, Anthropic's, they've, Microsoft's Copilot Organizations: Nvidia, Business, Google, French VC, Companies, Vox Media, OpenAI, Reuters, TED, Gemini, Web, Getty Companies, Investors Locations: Santa Clara
People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Tuesday cut its full-year sales forecast as it missed Wall Street's quarterly revenue expectations and a fresh batch of iPhones and AI-enabled laptops weren't enough to drive higher sales. It expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its prior expectations of a 1.5% to 3% drop. Comparable sales includes sales online and at stores open for at least 14 months. Shares of Best Buy were down about 3% in premarket trading Tuesday.
Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Microsoft Locations: Brooklyn, New York City, U.S
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is "attractive." HSBC downgrades Goldman Sachs & Morgan Stanley to hold from buy HSBC said the risk/reward is a less attractive. KeyBanc reiterates Nvidia as overweight The firm says it sees "limited competitive risks" for Nvidia shares. Wells Fargo reiterates Starbucks as overweight Wells raised its price target on the stock to $115 per share from $110. Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225.
Persons: Wells Fargo, HSBC downgrades Goldman Sachs, Morgan Stanley, Baird, Bernstein, KeyBanc, it's bullish, TD Cowen, Pinterest, Cowen, Wells, Guggenheim, Michael Kors, UAL Organizations: Eastman Chemical, UBS, HSBC, Royal Caribbean, Nvidia, Bank of America, Citi, Chevron, ExxonMobil, SPX, JV, China, Guggenheim, Capri Holdings, Barclays, Apple, and Department of Justice, Google, DoJ, UBS reinstates United, Alaska Airlines, Amazon Web Services, Anheuser, Busch InBev, GAP Locations: Caribbean, China, Delta, DAL
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