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☆ Here's a look inside the Three Mile Island nuclear power plant
▼ + stars: | 2024-11-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Operations at Three Mile Island are poised to restart in four years, the latest sign that the nuclear power industry is undergoing a major turnaround after a wave of plant closures. The Unit 1 reactor at Three Mile Island, which entered service in 1974, was permanently shut down in 2019 due to economic pressure as nuclear power struggled to compete against natural gas. But the tech sector's growing power needs are breathing new life into the industry. Constellation Energy plants to restart Unit 1 in 2028 through an agreement with Microsoft to help power the tech company's data centers. Here is a look at the plant's main control room, the turbine deck that houses the main power generator, and the facility's iconic cooling towers.

Persons: Chris Crane, Exelon, Bryan Hanson Organizations: Constellation Energy, Microsoft, Crane Clean Energy, Nuclear Regulatory Commission, The Department of Energy, Energy Solutions

☆ China's Singles Day shopping festival is more than halfway over. Here's how consumers are spending
▼ + stars: | 2024-11-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China's e-commerce giants stopped reporting Singles Day GMV in 2022 during the pandemic. Singles Day GMV this year as of Oct. 30 was 845 billion yuan ($119.1 billion), according to research firm Syntun. Subsidies boost appliancesHelping boost sales this Singles Day are China's subsidies for trade-ins of home appliances, launched in late July. They predict 4% to 5% growth in Singles Day GMV, with sales in the home appliance category supported by the trade-in program. "Something that kind of came out of nowhere, into all of a sudden really, really big numbers."

Persons: Alibaba, Jacob Cooke, JD's, ByteDance's Douyin, Cooke, Louis Vuitton, we've, UOB Kay Hian, JD.com, Dave Xie, Oliver Wyman, Xie, There's, Liang, Chiikawa, Taobao, Tmall Organizations: Visual China, Getty, Alibaba, Technologies, CNBC, Louis Locations: Lianyungang, Jiangsu Province, China, BEIJING, Asia, Alibaba, British

☆ Meet Glean, the enterprise AI search company that's so powerful Sam Altman deemed it a threat to OpenAI
▼ + stars: | 2024-10-31 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

Among them are Anthropic, Elon Musk's xAI, OpenAI cofounder Ilya Sutskever's Safe Superintelligence, and AI search startup Perplexity. The last of the five rivals, and perhaps the least well-known, is Glean, an enterprise search assistant. Founded in 2019 by Rubrik cofounder and ex-Googler Arvind Jain, Glean helps corporate workers find information across their companies' tools and data. Related Video Sam Altman moves to Microsoft after OpenAI fires him as CEOThe company enables AI search by integrating apps like Slack and Dropbox and powering search across their company's universe of data. AdvertisementBesides enterprise search, Glean also has an AI assistant that generates answers based on search results, such as summarizing the day's Slack messages or synthesizing multiple documents.

Persons: Glean, Jain, —, Sam Altman, Elon Musk's, Ilya Sutskever's, Googler Arvind Jain, Kleiner Perkins, Deedy Das, Larry Page, Das, Bipul Sinha, Rubrik, Mamoon Hamid, Vishwanath, Tony Gentilcore, Piyush Prahladka, …, Arvind, Hamid, Paul, Rajeev Dham, they're, Slack, Altman, It's Organizations: Google, Service, Elon Musk's xAI, DST Global, Sapphire Ventures, Sequoia, Microsoft, Sony Electronics, Entrepreneurship, Indian Institute of Technology, IIT, Menlo Ventures, IIT Delhi, University of Washington, Akamai Technologies, Technology, YouTube, Kleiner Locations: Jaipur, Indian, IIT Delhi, India, Glean, Seattle

☆ Hiring Is Broken. LinkedIn Thinks AI Can Fix It, and Help Your Career.
▼ + stars: | 2024-10-29 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +9 min

It was an AI recruiter. And LinkedIn wants to fix the disconnect, in part by fighting AI … with AI. AdvertisementEarlier this year, the company rolled out new AI tools to premium subscribers. ZipRecruiter also rolled out revamped AI tools to help job seekers find better matches this summer. AdvertisementCanseco has not yet tried LinkedIn's AI tools because she isn't a premium user, but she could get access to them soon.

Persons: Paloma Canseco, She's, Robin, Canseco, Robin wasn't, I'm, Rohan Rajiv, Rajiv, Monster, résumés, Hayley Finegan, Finegan, who's, Josh Bersin, they're, Julia Pollak, ZipRecruiter's, ZipRecruiter, Millie Black, she's, Black Organizations: LinkedIn, US Bureau of Labor Statistics, Human Resource Management

☆ Amazon's AI data center dream runs into the reality of 'zombie' facilities, higher costs, and labor shortages
▼ + stars: | 2024-10-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +13 min

Electricity and labor headwinds slow Amazon's data center buildout. AdvertisementAmazon is spending heavily on data centers to support booming AI workloads, putting it on pace to build 240 new facilities by 2040, one estimate found. David Cahn, a Sequoia Capital general partner, recently predicted data center delays across the sector. Bernstein Research recently estimated that electricity demand for AI data centers could exceed supply in just two years without action. An Amazon data center in Oregon.

Persons: —, It's, David Cahn, Marc Wulfraat, MWPVL, we've, Bernstein, Amazon's, Matt Garman, JOSH EDELSON, Garman, Manuel Pineda, Pineda, Owens Corning Organizations: Service, Sequoia Capital, Energy, Amazon, Boston Consulting Group, Bernstein Research, Business, Web, San Francisco 49ers, BI, AWS, Uptime Institute, Center, Survey Locations: AMER, Americas, Oregon , Ohio, Northern Virginia, Amazon's Portland, Arizona, Indiana, Pennsylvania, Silicon Valley, Santa Clara , California, Santa Clara, Levi's, City, Santa, Oregon

☆ How AI is changing business at telecom giants, according to Nvidia and Verizon execs
▼ + stars: | 2024-10-12 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

"There has never been a better or exciting time to be in the telecommunications industry," said Ronnie Vasishta, senior vice president of telecom at Nvidia. "AI will revolutionize telecommunications, and telecommunications will revolutionize AI." Verizon is using AI to "plan, build, and run our network; deliver differentiated customer and employee experiences; optimize internal processes; drive operational efficiencies," said Arumugavelu. AdvertisementOne way it's implementing the tech is by using AI computer vision, which allows computers to analyze and identify subjects in photos and videos, for geospatial intelligent cell site planning. Related storiesVerizon is also building a fully automated supply chain digital twin, which helps with monitoring inventory levels, Arumugavelu said, and using AI in workforce planning.

Persons: Execs, —, Ronnie Vasishta, Shankar Arumugavelu, Nvidia's Vasishta, Arumugavelu, Nvidia's Organizations: Telecommunications, MWC, Vegas, Service, Nvidia, Verizon, Mobile, Congress, Verizon Global Services

☆ Friday's analyst calls: Goldman raises Nvidia target, JPMorgan upgrades Ferrari
▼ + stars: | 2024-10-11 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

(This is CNBC Pro's live coverage of Thursday's analyst calls and Wall Street chatter. Ferrari's scarcity-driven growth strategy has contributed to price growth of as much as 30% for new vehicles compared to prior vehicles, per Brinkman. — Hakyung Kim 6:25 a.m. Morgan Stanley raises Eli Lilly estimates Morgan Stanley notched its price target for Eli Lilly shares higher on increased weight-loss drug estimates. — Hakyung Kim 6:00: am Goldman Sachs raises Nvidia price target Goldman Sachs believes strong demand for artificial intelligence compute should help drive Nvidia shares higher. Analyst Toshiya Hari increased his price target on Nvidia shares to $150 from $135, implying 11.3% upside potential from Thursday's close.

Persons: Goldman, Morgan Stanley, Elli Lilly, Ryan Brinkman, Brinkman, Ferrari, — Hakyung Kim, Eli Lilly, Terence Flynn, Zepbound, Eli Lilly's, Mounjaro, Flynn, Mercado, Gonzalo Lopez, Lopez, Mercado Credito, Goldman Sachs, Toshiya Hari, Hari, Hakyung Kim Organizations: CNBC, Nvidia, JPMorgan, Ferrari, Mercado Libre, company's Data Locations: Thursday's, Latin America, U.S, America, verticals, Hari

☆ Nvidia's days of absolute dominance in AI could be numbered because of this key performance benchmark
▼ + stars: | 2024-09-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Liang told Business Insider he expects 90% of AI computing workloads will be in inference in the not-too-distant future. AdvertisementThat's why several startups are charging aggressively into the inference market — emphasizing where they might outperform the goliath in the space. Speed is an important factor when multiple AI models talk to each other and waiting for an answer can dampen the magic of generative AI. The number of tokens per second that can be consumed (when a prompt goes in) and generated (when a response comes out) is a common metric for AI computing speed. AdvertisementCerebras's AI chip is roughly size of a dinner plate.

Persons: —, Rodrigo Liang, Colleen Kress, workloads, Liang, Andrew Feldman, Bernstein, Colette Kress, Kress, Nvidia's, SambaNova, Anthropic's Claude, Nvidia isn't, Jensen, Dylan Patel, Patel Organizations: Service, Business, SambaNova Systems, Nvidia, ARM, AMD, o1, BI Locations: Artificialanalysis.ai, TCO

☆ How data-security posture management could make your cloud systems less vulnerable
▼ + stars: | 2024-09-17 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Companies can face data-security challenges with cloud storage and access management. Dan Benjamin, the senior director of product management at Prisma Cloud, a cloud-security platform made by Palo Alto Networks, said that incorporating data-security posture management into cybersecurity strategies could help solve many of these problems. This is crucial, as an IBM report published in 2023 estimated that 82% of data breaches involved data stored in the cloud. Organizations also often use several cloud systems and sometimes lack a solid security strategy for maintaining, updating, and securing data. Liat Hayun, the vice president of product management and research of cloud security at the cybersecurity company Tenable, said cloud environments' flexibility makes them attractive to companies.

Persons: —, Dan Benjamin, Benjamin said, Liat Hayun, Tenable, they're, Hayun, haven't, Benjamin, DSPM, Julie Madhusoodanan, Madhusoodanan Organizations: Service, Palo Alto Networks, LinkedIn, Companies Locations: DSPM, Normalyze

☆ China seeks a homegrown alternative to Nvidia — these are some of the companies to watch
▼ + stars: | 2024-09-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

This has renewed focus on China's homegrown efforts to rival Nvidia and create semiconductors that can underpin the world's second-largest economy's own AI industry. Huawei then sells these chips as a part of servers that go into data centers to train AI models. Alibaba and BaiduAlibaba and Baidu both buy Nvidia chips but they are also designing their own semiconductors for AI processes. Inference is the process that follows the training of AI models, as it refers to the actual application of AI in the real world, such as a chatbot responding to user queries. Moore ThreadsMoore Threads, founded in 2020, is developing GPUs designed to train large AI models.

Persons: Paul Triolo, Albright Stonebridge, Baidu Alibaba, Wei Sun, Moore, KUAE, ByteDance Organizations: Istock, Getty, Nvidia, CNBC, Huawei Huawei, Huawei, Wall, Alibaba, Baidu, Counterpoint Research, Biren, Technologies, China Morning, Cambricon Technologies, U.S, Sequoia, GGV Locations: China, U.S, Beijing, Washington, Shenzhen, Biren's

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

Deutsche Bank resumed coverage of Tesla with a buy rating, calling it a top pick. He also notched his price target $4 higher to $80, implying shares could gain 16.6% from Monday's close. Along with the new iPhone 16 line, the company unveiled Apple Intelligence for beta rollout next month, or new artificial intelligence capabilities for the iPhone. The iPhone 16 and 16 Plus are available for pre-order starting Friday. "At the core, we do not see Tesla as an automaker but rather a technology platform attempting to reshape multiple industries, deserving of a unique type of valuation framework," the analyst wrote.

Persons: Andrew Obin, Obin, — Hakyung Kim, David Vogt, Vogt, Morgan Stanley, Erik Woodring, Woodring, Goldman Sachs, Michael Ng, Ng, Bernstein, Douglas Harned, Harned, Daniela Nedialkova, Hakyung Kim, Tesla, Edison Yu, Yu, Fred Imbert Organizations: CNBC, Deutsche Bank, Atlantic, Costco, Bank of America, Johnson, Wall Street, Apple Intelligence, UBS, Apple, GE Aerospace GE Aerospace, GE Aerospace, GE Locations: Monday's

☆ 3 ways to use ChatGPT to up your sales game, according to a consulting CEO
▼ + stars: | 2024-08-20 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Read previewIt looks like some salespeople are already sold on using ChatGPT at work. That includes Jake Dunlap, the CEO of Skaled Consulting, a management and sales consulting firm with clients including LinkedIn, Microsoft, and Adobe. Here are Dunlap's favorite ways to use ChatGPT to boost his sales game and be more productive, which can help everyone from sales managers to account executives. Dunlap said he used to do these preparations in the middle of the night but now just goes right to ChatGPT. AdvertisementPersonalized trainingFor sales managers who lack the bandwidth to build personalized training plans for team members, Dunlap said that ChatGPT could be used to develop customized curricula.

Persons: —, Jake Dunlap, Dunlap, ChatGPT, there's, — let's, GPTs Organizations: Service, Skaled Consulting, LinkedIn, Microsoft, Adobe, Business, Google

☆ Reddit reports better-than-expected results for second quarter as digital ad market improves
▼ + stars: | 2024-08-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024. Here are the key numbers:Loss per share: 6 cents vs. the loss of 33 cents expected by LSEG6 cents vs. the loss of 33 cents expected by LSEG Revenue: $281 million vs. $254 million expected by LSEGSales in the second quarter rose 54% from a year earlier. The company's net loss narrowed to $10.1 million from $41.1 million in the same quarter a year earlier. The company said its average revenue per user was $3.08 in the second quarter, topping analyst estimates of $3.02. This is Reddit's second quarterly earnings report since the company went public in March on the New York Stock Exchange.

Persons: Steve Huffman, Snoo, Reddit Organizations: New York Stock Exchange, LSEG Revenue, LSEG, Apple, Nvidia

☆ AMD says data center sales more than doubled in a year
▼ + stars: | 2024-07-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

AMD shares are down about 6% in 2024, even though the company is the second-largest vendor of data center GPUs after Nvidia . Investors want to see AMD take market share away from its longtime rival Nvidia with its MI300X AI chip and signal growth in its data center AI business. Earlier this year, AMD said it expected $4 billion in AI chips sales this year, or about 15% of the company's expected sales. AMD AI chip sales are reported in the company's Data Center segment, which grew 115% year-over-year to $2.8 billion, driven by an increase in AI GPU shipments, AMD said. Sales for PCs are reported in the company's Client segment, which rose 49% year-over-year to $1.5 billion, versus expectations of $1.43 billion from Street Account.

Persons: Lisa Su, Ryan Patel, Travis P, Su Organizations: SXSW, Austin Convention Center, Getty, Devices, AMD, Nvidia, company's, Data Locations: Austin , Texas

☆ Renewable energy demand will triple as electricity consumption surges, NextEra CEO says
▼ + stars: | 2024-07-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

In this photo illustration the stock market information of NextEra Energy, Inc. seen displayed on a smartphone with NextEra Energy, Inc. logo in the background. Igor Goloniov | LightRocket | Getty ImagesRenewable energy demand will triple over the next seven years as data center growth accelerates to facility the proliferation of artificial intelligence, the NextEra Energy CEO said Wednesday. Of those, 860 megawatts — or 28% — of which comes from agreements with Google to power the tech company's data centers. "These results support our belief that the bulk of the growth demand will be met by a combination of renewables and battery storage." Rebecca Kujawa, CEO of NextEra Energy Resources, a subsidiary NextEra Energy, said it will take time to nail down concrete numbers on exactly how much demand is coming from data centers in particular.

Persons: Igor Goloniov, NextEra, John Ketchum, Brian, Ketchum, Rebecca Kujawa, Kujawa Organizations: NextEra Energy, Inc, LightRocket, Getty, Google, U.S, Consulting, Rystad Energy, NextEra Energy Resources Locations: U.S, Turkey

☆ The hottest new job in AI: chief ethics officer
▼ + stars: | 2024-07-21 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

The buzzy bot's technology — generative AI — could write emails, produce code, and materialize graphics in minutes. Generative AI can hallucinate, spread misinformation, and reinforce biases against marginalized groups if it's not managed properly. That's where a chief ethics officer comes in. AdvertisementRight now, though, companies aren't hiring people into these roles fast enough, according to Steve Mills, the chief AI ethics officer at Boston Consulting Group. She also engages with government leaders and other chief ethics officers.

Persons: —, ChatGPT, it's, Steve Mills, Mills, Shankar, Christina Montgomery Organizations: Service, . Companies, Mckinsey & Company, Business, Boston Consulting, Fortune, International Association of Privacy Professionals, Intelligence Locations: Var, Science

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Meta, Shopify, Broadcom, IBM, Microsoft & more
▼ + stars: | 2024-07-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley names Taiwan Semiconductor a catalyst driven idea Morgan Stanley said it said shares of the semis company have more room to run. " Morgan Stanley upgrades Chegg to equal weight from underweight Morgan Stanley said the risk/reward is balanced for the education company. Morgan Stanley upgrades Sweetgreen to equal weight from underweight Morgan Stanley said the restaurant chain's stock is starting to become compelling. Evercore ISI downgrades Yum and Starbucks to in line from outperform Evercore said in its downgrade of Yum and Starbucks that trends are softening. Evercore ISI reiterates Netflix as outperform Evercore said it's cautious heading into earnings later this week but that it's sticking with its outperform rating.

Persons: Morgan Stanley, Wolfe, it's, Jefferies, Wells, Goldman Sachs, Baird, Tesla, Bernstein, TD Cowen, Lamar, Cowen, Goldman, Piper Sandler, Piper, Evercore, IBM Evercore, Shopify, Jeff Hoffmeister, Mizuho downgrades Palantir, PLTR, Oppenheimer, we'd Organizations: Taiwan Semiconductor, Microsoft, Nvidia, Lamar Advertising, Nasdaq, TAM, Starbucks, Yum Brands, IBM, " Bank of America, of America, Mizuho, Bank of America, Broadcom, Evercore, Netflix, Bulls Locations: China

☆ Amazon's Asian rival Shein wants to be supply chain giant, but some fear Chinese cyber spying inside global trade links
▼ + stars: | 2024-07-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +13 min

Shein logistics software is in beta testing with select supply chain customers, according to a person familiar with its plans. "Shein's software could provide unprecedented access to sensitive supply chain data, which the Chinese government could seize under its laws. This exposure poses a direct threat to U.S. supply chain integrity, making it vulnerable to exploitation and manipulation." Even with a headquarters based in Singapore, company supply chain data could be subject to seizure by the Chinese. Shein's fast rise to dominance Shein's dominance lies in the company's hyper-flexible supply chain, according to a recent report from supply chain intelligence firm Zero100.

Persons: Jade Gao, Shein, cybersecurity, Lee Kair, Kair, Dewardric McNeal, McNeal, Ram Ben Tzion, Ben Tzion, Department of Homeland Security's, Shein's, Srini Cherukuri, Chris Xu's, Zero100, Eric Fullerton, Project44 Organizations: Shein, Afp, Getty, Transportation Security Administration, U.S, Authentic Holdings, Simon Property Group, Longview Global, Obama administration's Department of Defense, CNBC, Standards Organization, Secretariat, IAF, Microsoft U.S, EU, Social, International, Uyghur Forced Labor, Department of Homeland, Border Patrol, New York, ITS Logistics, Logistics Locations: Guangzhou, China's Guangdong, Jade, China, U.S, Exiger, Shein, Asia, Singapore, Frankfurt, Germany, Xinjiang Province, Customs, York, United States

☆ Micron shares slide after revenue forecast fails to top estimates
▼ + stars: | 2024-06-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Micron shares fell about 3% in extended trading on Wednesday as investors looked past better-than-expected results and focused instead on a revenue forecast that was in line with estimates. Analysts were expecting earnings per share of $1.05 on revenue of $7.6 billion. Micron CEO Sanjay Mehrotra highlighted the company's AI business in a statement while saying that its smartphone and PC markets remain sluggish. On a call with analysts, Micron said that its high bandwidth memory, the kind used in AI chips, is sold out through 2025. "We believe that Micron will be one of the biggest beneficiaries in the semiconductor industry in the multiyear growth opportunity driven by AI," Mehrotra said.

Persons: Sanjay Mehrota, Sanjay Mehrotra, Mehrotra Organizations: Micron Technology, Micron Locations: Davos, Switzerland

☆ Nvidia remains a little-known brand despite briefly passing Apple, Microsoft in market cap
▼ + stars: | 2024-06-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

The other is Nvidia , which for a time this week, surpassed Microsoft to become the largest company in the world by market cap. Nvidia has over 80% of the market for chips used to train and deploy AI software like ChatGPT. 100 on Interbrand's list for 2023 is Japanese camera maker Canon, with Dutch brewer Heineken at No. The risk for Nvidia, Silverman added, is that its "weak brand strength will limit how valuable it will be, despite its market cap heights." Gamers love itHowever, a competing survey shows that Nvidia's brand value is catching up to that of its peers.

Persons: Jensen Huang, Ann Wang, —, Greg Silverman, Interbrand's, Silverman, Interbrand, Kantar BrandZ, Marc Glovsky, Philip Fong Organizations: Reuters Apple, Microsoft, Google, Nvidia, Disney, Netflix, Heineken, Apple, Windows, Samsung, Toyota, Mercedes, Benz, BMW, Nike, Intel, Hewlett Packard Enterprise, CNBC, Nintendo, AFP, Getty, chipmaker, Dell, Vanda Research Locations: Taipei, Taiwan, Korean

☆ Databricks tells investors annualized revenue will reach $2.4 billion at midway point of year
▼ + stars: | 2024-06-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Ali Ghodsi, co-founder and CEO of Databricks, speaks at a press conference at Databricks' Data and AI Summit in San Francisco on June 12, 2024. Databricks, the data analytics software vendor that's among the most richly valued private U.S. tech companies, told investors on Wednesday that annualized revenue will reach $2.4 billion by the midpoint of this year. In April, security software company Rubrik debuted on the New York Stock Exchange. In March, the company told media outlets outlets that it generated $1.6 billion in revenue for the year ending Jan. 31, up more than 50% year over year. Last week Databricks said it was paying over $1 billion to buy Tabular, a startup whose founders created Iceberg.

Persons: Ali Ghodsi, Dave Conte, I've, Conte, Rubrik, Conte didn't, Databricks, Ghodsi, Snowflake Organizations: Databricks, Summit, New York Stock Exchange, NYSE, CNBC Locations: San Francisco

☆ Power demand is expected to surge. Play it for the long term with these dividend-paying stocks, Wells Fargo says
▼ + stars: | 2024-06-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

A sector of the stock market beloved by income investors could ride the wave of rising energy consumption over the long run, according to Wells Fargo. After 15 years of relatively flat power demand, Wells Fargo sees a compound annual growth rate of 2.6% through 2030 and 80% growth by 2050. The development bodes well for a group of utilities – and Wells Fargo called out some of its overweight-rated plays on the power trend for the long run. Wells called out the 10-year site plan NextEra subsidiary Florida Power & Light submitted to the state's public service commission. The stock's price "[reflects] a level of optimism," Wells Fargo analysts said, but "we think there is a case for further outperformance."

Persons: Neil Kalton, Wells Fargo, Wells, Duke, NextEra, it's Organizations: Duke Energy, Carolinas, Florida Power, Constellation Energy, Constellation, Microsoft, NRG Energy Locations: Wells Fargo, U.S, South Carolina, North Carolina, Virginia, Wells

☆ We're cutting our price target on Salesforce after mixed earnings, soft guidance
▼ + stars: | 2024-05-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The company's balance of margin expansion with the potential for faster top-line growth should lead to strong earnings growth. Non-GAAP operating margin benefited from the lower cost of revenues, sales and marketing, and general and administrative expenses. Management reduced its revenue growth forecast for the subscription and support business to slightly below 10% over last year. The adjusted operating margin target of 32.5% was reaffirmed and is in line with expectations. For the second quarter, Salesforce estimates revenues of $9.2 to $9.25 billion, below the $9.345 billion estimate.

Persons: Salesforce isn't, Brian Millham, Marc Benioff, we've, Salesforce, That's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Nvidia, CRM, Management, buybacks, CNBC, Bloomberg, Getty Locations: San Francisco , California, U.S

☆ Nvidia shares pop 10% to record high after forecast signals unwavering demand for AI chips
▼ + stars: | 2024-05-23 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Nvidia shares jumped more than 10% on Thursday after the company on Wednesday reported earnings that topped Wall Street estimates and showed that there's still ferocious demand for its artificial intelligence chips. First-quarter revenue came in higher than expected at $26.04 billion compared with the LSEG estimate of $24.65 billion. The company issued strong guidance, saying it expects $28 billion in revenue for the current quarter, beating the LSEG estimate of $26.61 billion. Shares passed $1,000 for the first time, reaching an all-time high of $1,051.96 during intraday trading, and are up about 111% this year. Nvidia on Wednesday announced a 10-for-1 stock split, with shares set to begin trading on a split-adjusted basis at market open on June 10.

Persons: Jensen Huang, there's, Bernstein's Stacy Rasgon, Jefferies, Blackwell Organizations: Nvidia, Intelligence, SAP Center, Wednesday Locations: San Jose , California

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