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☆ Pentagon received hundreds of reports of new UFO sightings
▼ + stars: | 2024-11-14 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

CNN —The Pentagon has received hundreds of reports of new UFO sightings, including “several particularly interesting cases,” according to the director of the office that investigates these reports, but reiterated it found no evidence of alien activity. The Pentagon, working with the Office of the Director of National Intelligence (ODNI) and other government agencies, has received a total of 1,652 reports to date, according to the newly released annual report, including 757 new reports between May 2023 and June 2024. The topic of UAPs has garnered tremendous public attention, fueled in part by its inextricable link to UFO sightings and conspiracy theories about the US government hiding evidence of aliens. “It is also important to underscore that, to date, AARO has discovered no verifiable evidence of extraterrestrial beings, activity, or technology,” said Kosloski. None of these closed cases were the result of foreign adversaries or a breakthrough in advanced technologies, AARO said in their report.

Persons: ”, Jon Kosloski, UAPs, AARO, Kosloski, ” Kosloski Organizations: CNN, Pentagon, National Intelligence

☆ Instead of job killings, there's a strange AI hiring boom happening, according to Marc Andreessen
▼ + stars: | 2024-11-14 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

Instead of killing jobs, generative AI is fueling a surprising job boom, according to the venture capitalist Marc Andreessen. OpenAI and Google are struggling to significantly improve their next AI models, multiple media reports said this week. That's what makes these AI models smart, and without that, OpenAI and others are hitting a worrying wall. They're a function of the training data," Andreessen said. "And a big part of the AI hiring boom is actually hiring the experts to actually craft the answers to be able to train the AI."

Persons: Marc Andreessen, Horowitz, Andreessen, OpenAI, Ben Horowitz, Andreessen's Organizations: Google, AIs, Business, Andreessen Locations: chimed

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Amazon, Microsoft, Tesla, Meta, Campbell Soup and more
▼ + stars: | 2024-11-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Citi initiates Gilead Sciences as buy The firm said it is bullish on the biotech company's HIV franchise. Piper Sandler upgrades Campbell Soup to overweight from neutral Piper Sandler said it sees an attractive entry point for the stock. UBS initiates Cogent as buy The firm said it sees meaningful revenue acceleration for the internet services company. Jefferies reiterates Tesla as hold The firm raised its price target on the stock to $300 per share from $195. Morgan Stanley reiterates Meta as overweight The firm said Meta is a major artificial intelligence beneficiary. "

Persons: Piper Sandler, Campbell, Oppenheimer, Jefferies, Tesla, Morgan Stanley, Papa, KeyBanc, Papa John's, BXP, Wells, Wells Fargo, BURL, Meta, Needham, Eli Lilly's Organizations: Citi, Gilead Sciences, HIV, SOVO, UBS, Nvidia, Bank of America, Neutral Bank of America, ISI, Papa Johns International, Company, JPMorgan, Medicines, 3Q, Netflix, Barclays, Airlines, FDA, Novo Nordisk, Microsoft Locations: Europe, Asia, Africa, America, Manhattan, Burlington

☆ Here are our top 5 performing stocks since October's Monthly Meeting
▼ + stars: | 2024-11-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Overall, the S & P 500 jumped 2.4% since the last monthly meeting, while the Nasdaq and Dow climbed 4.5%, and 2%, respectively. Wells Fargo up 13.9% Ever since the Fed kicked off its monetary easing cycle with a jumbo 50-basis-point rate cut in mid-September, financial names have soared. Wells Fargo, which did take a hit one week ago, posted a record-high close Wednesday. Research analysts at Bank of America, for example, raised their price target on Wells Fargo Monday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: It's, Donald Trump, Dow, Wells Fargo, Morgan Stanley —, Morgan Stanley, Bank of America —, Wells, Trump, dinged, Morgan, Jim Cramer's, Jim Cramer, Jim, Stephani Spindel Organizations: Nasdaq, Big Tech, Club, Microsoft, Trump, Depot, Dow, Wall Street, Jefferies, Bank of America, Meta, Fed, Wall, Research, Wells, Palo Alto Networks, Jim Cramer's Charitable, CNBC, New York Stock Exchange Locations: Wells, BlackRock, CrowdStrike, Wells Fargo, Amazon, American, Manhattan, New York City, U.S

☆ Jim Cramer names hot sectors that could use a pullback
▼ + stars: | 2024-11-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday suggested the post-election market has been extreme, with big wins and big losses. "We have a lot of overly loved stocks in this market right now," he said. Cramer pointed out the sharp rise of enterprise software stocks, saying that it seems these companies with in-demand products for big corporations can do no wrong. Cramer also highlighted two sectors he said are "too hated," but could bounce back, including pharmaceuticals and semiconductors. For semiconductors, Cramer concluded that those companies have suffered in part because some feel that new artificial intelligence-powered PCs haven't taken off.

Persons: CNBC's Jim Cramer, Cramer, Salesforce, Donald Trump's, Trump, Robert F, Kennedy Jr Organizations: Costco, Netflix, Spotify, Merck, Pfizer, Human Services Department Locations: China

☆ Apple's future product lineup is starting to come into focus
▼ + stars: | 2024-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple is exploring new headsets and smart-home devices to expand its lineup. Its plans don't always work out; it scrapped a car project and faces weak demand for the Vision Pro. The company in February scrapped plans for a car, and its $3,500 Vision Pro has gotten mixed reviews in the months since its release. Bloomberg on Tuesday reported on a wall-mounted smart-home tablet in Apple's production lineup that could operate home appliances, use Apple Intelligence, and access Apple apps. AdvertisementThe report said the project, code-named J490, could come as early as March, a month before new Apple Intelligence features are expected to roll out.

Persons: —, Mark Gurman, Ming, Chi Kuo, Apple's, Gurman, Apple, EMARKETER, Kuo, Meta, William Kerwin, Tim Cook, who's Organizations: Apple, Vision, Service, Bloomberg, Apple Intelligence, Big Tech, Asset Management, Business Locations: Taiwan, Morningstar

☆ The election proved the media is in crisis. Here’s what it needs to do to regain its relevance
▼ + stars: | 2024-11-14 | by ( Brian Stelter | ) edition.cnn.com time to read: +11 min

What can news outlets do to regain trust and appeal to new audiences without alienating existing readers and viewers? For the past week, CNN’s media team has been receiving feedback from readers of the Reliable Sources newsletter. Mainstream media outlets have been losing public trust for decades, particularly among Republicans, but also among Democrats and independents. Maybe, CNN’s Donie O’Sullivan commented last week, the media collectively spent “too much time obsessing about polling (where did that get us?) As long as President-elect Donald Trump keeps repeating lies and raising controversies, the press will be seen as a hostile force by many Trump voters.

Persons: New York CNN — Donald Trump’s, Kamala Harris, “, ”, Greg Gutfeld, Sean Hannity, ” Elon Musk, Harris, Donie O’Sullivan, MAGA, it’s, TheWrap’s Sharon Waxman, Donald Trump, They’re, Joe Rogan’s, Charlie Warzel, Rachel Karten, “ Trump, Tim Graham, Arlie Russell Hochschild, Vox, Lulu Garcia, Navarro, Buck, Richard Stengel, Andrew Morse, “ It’s, Will Bunch, there’s Organizations: New, New York CNN, ” Fox, Trump, Media, ABC News, Nielsen, CNN, News, Civic Health, Media Research Center, ” New York Times, Atlanta, Philadelphia Locations: New York, Washington, York, U.S

☆ It's 'liquidity, stupid': VCs say tech investing is tough amid IPO lull and 'nuts' AI hype
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention. And in the VC world, it's really all about liquidity stupid," Edith Yeung, general partner at Race Capital, an early-stage VC firm based in Silicon Valley, said in a CNBC-moderated panel earlier this week. When a VC makes an equity investment and the value of their stake increases, it's only a gain on paper. Yeung said the lack of IPOs over the last couple of years had created a "really tough" environment for venture capital.

Persons: Edith Yeung, Larry Aschebrook, G, Portugal —, Groq —, Yeung, there's, Big Techs Organizations: Race Capital, CNBC, Summit, Microsoft Locations: Lisbon, Portugal, LISBON, U.S, Silicon Valley

☆ Syria: Fifteen killed in Israeli strikes on Damascus, state media say
▼ + stars: | 2024-11-14 | by ( Mostafa Salem | Eyad Kourdi | ) edition.cnn.com time to read: +3 min

CNN —Fifteen people were killed and 16 others injured in Israeli strikes on Damascus in Syria, state media SANA said, citing a military source and marking one of the deadliest strikes in months to hit the Syrian capital. The strikes targeted several residential buildings in the upscale Mezzah neighborhood in the capital and the Qudsaya area in the Damascus countryside, Syrian state media reported. Among those killed were women and children, Syrian state media added. The strikes targeted a residential building in the Sayyidah Zaynab area of the Damascus countryside, with women and children among those killed, SANA said. On November 4, SANA reported Israeli strikes in Sayyidah Zaynab the same day the IDF said Israeli Air Force fighter jets struck Hezbollah intelligence infrastructure in the Damascus area.

Persons: SANA, Jihad, “, ” SANA Organizations: CNN, Israeli Air Force Locations: Damascus, Syria, Jihad, Gaza, Syrian, Israeli, Mezzah, Riyadh, Israel, Sayyidah, Lebanon, Qusayr, Homs

☆ Bill Ackman's Pershing Square doubles down on Nike and one name tied to data centers
▼ + stars: | 2024-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Bill Ackman's Pershing Square doubled down on Nike and Brookfield in his concentrated portfolio last quarter. The high-profile investor boosted his investment in Nike drastically in the third quarter, making the bet worth $1.4 billion, according to a regulatory filing. The bet was only worth about $220 million at the end of June. Nike is in the midst of a broader restructuring after it shifted its strategy to sell directly to consumers. Pershing Square also boosted its bet on Brookfield last quarter to a stake worth $1.74 billion, making it the second biggest holding behind Alphabet.

Persons: Bill Ackman's, Elliott Hill, Howard Hughes Organizations: Bill Ackman's Pershing, Nike, Brookfield, Pershing, Microsoft, Brookfield Asset Management, Hilton Worldwide, Restaurant Brands, Canadian Pacific, Canadian Pacific Kansas City Locations: Canadian Pacific Kansas

☆ Smart ring leader Oura plans international push as CEO touts new features and thinking on hardware
▼ + stars: | 2024-11-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

The Oura Ring 4 Courtesy: OuraLISBON — Samsung's foray into smart rings isn't concerning the boss of the product category's pioneer, Oura — in fact, Tom Hale says he's seeing a boost in business. Oura's flagship product is the Oura Ring 4, a device known as a smart ring. Founded in Finland in 2013, the company has been called a pioneer by analysts in the smart ring space. CCS Insight forecasts Oura will end the year with a 49% market share in smart rings. New hardware and AIWhile Oura only sells rings currently, Hale sees the company developing new products in the future.

Persons: Oura, Tom Hale, Hale Organizations: CNBC, Web, CCS, Samsung, U.S . Food, Drug Administration, Apple, International Locations: LISBON, Lisbon, Finland, U.S

On the day after the election, Nov. 6, X experienced its largest user exodus since Elon Musk bought the platform in 2022. NBC News spoke to six people who have joined or committed to using Threads and Bluesky in place of X after the election because of Musk. In the past five days, Wurtz said people she used to follow on X have started to trickle over to Threads. “I have a private personal account for friends and family and a public account for Taylor Swift, so nobody drowns in my Taylor Swift content,” Polo said. Currently, X users can go to the site’s settings and opt out.

Persons: Elon Musk, Don Lemon, Donald Trump, Musk, Kara Wurtz, Louis, ” Wurtz, “, I’m, Wurtz, Wurtz isn’t, Adam Mosseri, Bluesky, ”, Mosseri, David Carr, X, Polo, Swifties, Taylor Swift, ” Polo, Elon, Rory Mir, ” Mir, José Vilson, “ I’m, ” Laura Sell, Sell, “ It’s, Micah Lee, Dr, Jorge Caballero, ” Caballero, it’s Organizations: Elon, Guardian, NBC, Trump, Twitter, NBC News, Bluesky, Electronic Frontier Foundation, Duke University Press Locations: Similarweb, United States, Canada, Bluesky

☆ Trump Media CFO, two other insiders sell millions of dollars worth of DJT stock
▼ + stars: | 2024-11-13 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Politics For Cnbc.Com. | ) www.nbcnews.com time to read: +3 min

The chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures. The sale disposed of all of Swider’s Trump Media shares, the filing indicated. Swider controls a company, Renatus Advisors, that still owns 18,043 shares of Trump Media. Glabe, who is also the company’s secretary, still owns 336,576 restricted stock units in Trump Media after that sale. A Trump Media spokeswoman did not immediately respond to CNBC’s request for comment on the stock sales.

Persons: Phillip Juhan, Eric Swider, Scott Glabe, Donald Trump, Bluesky, Trump, Juhan, Swider, Swider’s, Glabe, Scott, Devin Nunes, Nunes ’ RSUs Organizations: Trump Media, Trump Media’s, U.S . Securities, Exchange, Swider’s Trump Media, Renatus Advisors, Glabe, Juhan Locations: DJT

☆ Legends of Uzbekistan: The man who measured the world
▼ + stars: | 2024-11-13 | by ( ) edition.cnn.com time to read: +4 min

But a period of immense discovery is beginning, in which every scholar hopes their theories could change our understanding of the world. One of the greatest of these and one of the most revered in Islam is Abu Rayhan Al-Biruni. Born in 973 CE in Khwarazm in northwest Uzbekistan, Al-Biruni was a man of such prodigious knowledge and scholarship that the modern city is now an ode to his name, Beruniy. Al-Biruni is considered the "father of Indian studies" GettyThe early ages of space discoveryAlongside cultural studies, Al-Biruni had a passion for astronomy, devoting 95 of his 146 books to the cosmos. The first award ceremony is scheduled in November 2025, in Samarkand during the 43rd Session of the UNESCO General Conference.

Persons: Abu Rayhan Al, Biruni, Mahmud Ghaznav, Al, Getty, Galileo Galilei, Sir Isaac Newton, Richard Dunthorne Organizations: Nations, UNESCO Executive, UNESCO, Intelligence, UNESCO General Conference Locations: Islam, Khwarazm, Uzbekistan, Al, Tehran, Lahore, India, Samarkand

☆ China is catching up with the West on tech, Microsoft president says
▼ + stars: | 2024-11-13 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

The West shouldn't assume that China is lagging behind the U.S. and Europe on tech developments, Microsoft's president and vice-chairman warned. U.S-China tensions in the past few years have centered on the battle between the two nations for tech supremacy, culminating in a slew of export controls on critical technologies. Speaking at the Web Summit tech conference in Lisbon, Portugal, on Tuesday, Microsoft's Brad Smith told CNBC that "in many ways," China is close to or is even catching up on technology. "I think one of the dangers, frankly, is that people who don't go to China too often assume that they're behind," he told CNBC's Karen Tso. "But when you go there, you're impressed by how much they're doing."

Persons: China's, Microsoft's Brad Smith, CNBC's Karen Tso Organizations: China's Huawei, Summit, CNBC, U.S Locations: China, Europe, Lisbon, Portugal

☆ Banks are reporting a tenfold surge in digital scams, cybersecurity firm BioCatch says
▼ + stars: | 2024-11-13 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

U.S. and Canadian banks reported a tenfold surge in digital scams this year as criminals flock to techniques that rely on duping customers into sending them money, according to cybersecurity firm BioCatch. Banks are under pressure to kick criminals off their platforms and compensate more victims as regulators and lawmakers focus on the harm done by digital scams. Customers of the three banks reported a combined $166 million in Zelle transactions were fraudulent in 2023. BioCatch declined to provide a specific number for reported scams, citing client confidentiality. In another sign of the cat-and-mouse dynamic of cybercrime, BioCatch clients reported 59% fewer fraudulent account openings.

Persons: Tom Peacock, Fraudsters, Peacock, Banks, Wells Fargo, Zelle, BioCatch Organizations: Global, CNBC, American Express, Barclays, HSBC, JPMorgan Chase, Bank of America, Consumer Financial, Services Locations: Tel Aviv, Israel, Wells, U.S

☆ OpenAI to present plans for U.S. AI strategy and an alliance to compete with China
▼ + stars: | 2024-11-13 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

In this photo illustration, the OpenAI logo is displayed on a mobile phone screen with a photo of Sam Altman, CEO of OpenAI. In the document, OpenAI outlines a rosy future for AI, calling it "as foundational a technology as electricity, and promising similarly distributed access and benefits." Now that Donald Trump is President-elect, OpenAI has made clear its plans to work with the new administration on AI policy, and the company's Wednesday presentation outlines its plans. OpenAI's presentation outlines AI economic zones co-created by state and federal governments "to give states incentives to speed up permitting and approvals for AI infrastructure." The blueprints say, "The government can encourage private investors to fund high-cost energy infrastructure projects by committing to purchase energy and other means that lessen credit risk."

Persons: Sam Altman, Donald Trump, OpenAI, Trump, Biden's Organizations: CNBC, Washington , D.C, Defense Locations: Washington ,, American

☆ AMD to lay off 4% of workforce, or about 1,000 employees
▼ + stars: | 2024-11-13 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

"We are committed to treating impacted employees with respect and helping them through this transition." AMD had 26,000 employees at the end of last year, according to a U.S. Securities and Exchange Commission filing. AMD stock is down 5% in 2024 while Nvidia shares are up 200%, making it the most valuable publicly traded company in the world. AMD said in October it expects $5 billion in AI chip sales this year, about a fifth of the $25.7 billion in total sales FactSet projects for AMD's 2024. AMD also makes processor chips for laptops, desktops and servers, competing primarily with Intel.

Persons: chipmaker, FactSet Organizations: AMD, Nvidia, U.S . Securities, Exchange Commission, Meta, Microsoft, Intel, Mercury Research

☆ Denmark launches landmark framework for using AI under EU rules — with Microsoft backing
▼ + stars: | 2024-11-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Denmark on Wednesday laid out a framework that can help EU member states use generative artificial intelligence in compliance with the European Union's strict new AI Act — and Microsoft 's already on board. Denmark's Agency for Digital Government, the country's central business registry CVR and pensions authority ATP are among the founding partners adopting the framework. This includes guidelines governing how the public and private sector collaborate, deploying AI in society, complying with both the AI Act and General Data Protection Regulation (GDPR), mitigating risks and reducing bias, scaling AI implementation, storing data securely, and training up staff. Netcompany CEO André Rogaczewski said the provisions laid out in the white paper were primarily aimed at companies in heavily regulated industries, such as in financial services. He told CNBC he's aiming to address one core question: "How can we scale the responsible usage of AI?"

Persons: André Rogaczewski Organizations: Microsoft, IT, Public, Denmark's Agency for Digital Government, General Data Protection, CNBC Locations: Denmark, Danish

☆ Cisco reports fourth straight quarter of declining revenue
▼ + stars: | 2024-11-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Cisco CEO Chuck Robbins speaks at The Wall Street Journal's Future of Everything Festival in New York on May 21, 2024. Cisco reported a fourth straight quarter of declining revenue even as results topped analysts' estimates. Net income fell to $2.71 billion, or 68 cents per share, from $3.64 billion, or 89 cents per share, in the same quarter a year ago. During the quarter, Cisco acquired security startups DeepFactor and Robust Intelligence. Analysts expected adjusted earnings for the year of $3.58 per share on $55.89 billion in revenue.

Persons: Chuck Robbins, Robbins, Scott Herren, Herren Organizations: Cisco, Everything, StreetAccount, Dell, White, Intelligence, Cisco Systems, Applied Materials, Disney Locations: New York

☆ Trump names former House Democrat Tulsi Gabbard to be director of national intelligence
▼ + stars: | 2024-11-13 | by ( Zoë Richards | ) www.cnbc.com time to read: +2 min

Former Rep. Tulsi Gabbard (R-HI) takes the stage during a Republican presidential nominee, former U.S. President Donald Trump campaign rally at Lancaster Airport on November 03, 2024 in Lititz, Pennsylvania. President-elect Donald Trump on Wednesday said that he will nominate Tulsi Gabbard, a former House Democrat who became a high-profile Trump supporter, to be director of national intelligence. "For over two decades, Tulsi has fought for our Country and Freedoms of all Americans," Trump said in a statement. In August, she endorsed Trump, began working as a co-chair for his transition team and helped him prepare for his debate against Vice President Kamala Harris. Before campaigning for president, Gabbard served in the House from 2013 to 2021 and was vice chairwoman of the Democratic National Committee from 2013 to 2016.

Persons: Tulsi Gabbard, Donald Trump, Tulsi, Trump, Gabbard, Kamala Harris, Joe Biden, George W, Bush, Bashar al, Assad, We've, Trump's Organizations: Republican, Lancaster Airport, Democrat, Trump, Freedoms, Intelligence, Democratic Party, Republican Party, Democratic, Democratic National Committee, Army Reserve, Democrats Locations: Lititz , Pennsylvania, East, Africa

☆ X rival Bluesky gains 1.25 million users following U.S. election
▼ + stars: | 2024-11-13 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this photo illustration, the Bluesky Social logo is displayed on a cell phone in Rio de Janeiro, Brazil, on September 4, 2024. Micro-blogging startup Bluesky has gained over 1.25 million new users in the past week, indicating some social media users are changing their habits following the U.S. presidential election. "We're excited to welcome everyone looking for a better social media experience," Bluesky CEO Jay Graber told CNBC in a statement. Meta CEO Mark Zuckerberg in October said Threads had nearly 275 million monthly users. Musk in May claimed that X had 600 million monthly users, but market intelligence firm Sensor Tower pegged X's monthly base at 318 million users in October.

Persons: Elon Musk, Jay Graber, Mark Zuckerberg, Jack Dorsey, Bluesky, Dorsey, Donald Trump Organizations: U.S, Elon, CNBC, Journalists, Trump, Brazilian Supreme Court Locations: Rio de Janeiro, Brazil, U.S, Canada, United Kingdom, Seattle

☆ Startup CEO says humans won't be needed for translation in 3 years as it launches AI app
▼ + stars: | 2024-11-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Vasco Pedro, co-founder and CEO of Unbabel, on the first day of the 2023 Web Summit at the Altice Arena in Lisbon. Unbabel's LLM allows AI translation in 32 languages, Vasco Pedro, the company's CEO, told CNBC in an interview at the Web Summit in Lisbon. Widn.AI is Unbabel's new product and is based on the company's proprietary large language model (LLM) called Tower. LISBON — Unbabel on Wednesday announced a translation service powered by artificial intelligence, adding another rival to a highly competitive space — with its CEO warning that humans may not be needed for translation at all in three years. But he said there will be an increase in the amount of content translated which will sustain the company's growth.

Persons: Vasco Pedro, Pedro, Widn.AI, There's Organizations: CNBC, Unbabel, Wednesday, Google Locations: Lisbon, Widn.AI, LISBON, Unbabel

☆ Japan is ramping up efforts to revive its once dominant chip industry
▼ + stars: | 2024-11-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

In this article ASMLASML-NLMUINTCSMSD-GB2330-TW Follow your favorite stocks CREATE FREE ACCOUNTJapan is looking to revitalize its semiconductor industry. The Japanese government has unlocked billions of dollars in subsidies for its domestic chip sector. One likely beneficiary of the funding announced Monday will be Japan-based Rapidus, a state-backed chip venture at the heart of the country's chip revitalization efforts. In the 1980s, Japan was the world's dominant chip player and occupied more than half of the global semiconductor market. Through its chip subsidies, which have mostly been geared toward increasing manufacturing capacity, the country should be able to expand into other aspects of the supply and enhance its position, Yang added.

Persons: Shigeru Ishiba, Ishiba, Rapidus, Tetsuro Higashi, Michael Yang, Omdia, Yang, Brady Wang, Wang, Ken Kuo Organizations: MU, Getty, Japan, Toyota Motor, Sony Group, U.S, IBM, Taiwan Semiconductor Manufacturing Co, Samsung, Intel, Micron, CNBC, Counterpoint Research Locations: Japan, Taiwan, South Korea, South, U.S, Netherlands

☆ AI startup CoreWeave closes $650 million secondary share sale, with Cisco joining as investor
▼ + stars: | 2024-11-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

CoreWeave, a startup that rents out Nvidia's artificial intelligence chips to other companies, said Wednesday that it closed a $650 million secondary share sale, with Cisco and Pure Storage investing alongside financial institutions. Bloomberg reported last month that CoreWeave was targeting a $23 billion valuation for the deal, up from $19 billion in a $1.1 billion investment round announced in May. CoreWeave is going head-to-head with large cloud infrastructure providers, such as Amazon and Google in providing Nvidia's graphics processing units, or GPUs, to companies for AI workloads. The following month Nvidia said its H200 GPUs had become available through CoreWeave, meaning the startup was the first cloud provider to reach general availability with the graphics cards. In addition to Cisco and Pure, investment firms including BlackRock , Coatue and Fidelity participated in CoreWeave's secondary sale.

Persons: CoreWeave, OpenAI's ChatGPT, Mike Intrator, CNBC's Organizations: Cisco, Bloomberg, Google, Nvidia, Microsoft, Investors, Core, Fidelity Locations: BlackRock, Coatue

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