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☆ The Barbie playbook: How Mattel's CEO is transforming the toy maker into an entertainment company
▼ + stars: | 2024-09-19 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Read previewMattel CEO Ynon Kreiz is trying to transform the toy maker into an entertainment company — but don't look for it to be a funder or distributor in its own right. After 2023's smash success of Greta Gerwig's "Barbie," Kreiz has become one of the most intriguing figures in Hollywood. Kreiz spoke with Business Insider on Wednesday about lessons from Barbie and how he's turning Mattel into an IP company. At a time of massive disruption in entertainment, Kreiz thinks Mattel is well-positioned. But "Barbie" established a blueprint for Mattel's future projects in working with top creatives, providing promotion power, and staying true to its brands, Kreiz said.

Persons: —, Ynon Kreiz, Greta Gerwig's, Barbie, Kreiz, John Cena, . Abrams, Kara Swisher, Mattel, Mattel Mattel, What's, We're, it's Organizations: Service, Mattel, Business, Advance, YouTube, Maker Studios, Disney, Endemol Group, Warner Bros, Procter, Gamble, Adobe Locations: Hollywood, ., New York, billings

Amelia is the latest generative AI tool that Amazon has brought to market in the past year as it seeks to capitalize on the hype sparked by OpenAI's ChatGPT. The company has introduced an AI-powered shopping assistant named Rufus, a chatbot for businesses dubbed Q and Bedrock, a generative AI service for cloud customers. More than 400,000 of Amazon's millions of third-party sellers have used its AI listing tool, up from 200,000 in June, he said. With Amelia, Amazon is counting on generative AI to help with a key issue for third-party merchants — account troubleshooting. Amazon said the tool uses retrieval-augmented generation, or RAG, a popular AI industry framework that combines generative AI with long-established methods of information retrieval.

Persons: Nathan Stirk, Amelia, OpenAI's ChatGPT, Rufus, Anthropic, Andy Jassy, Jassy, Thos Robinson, it's, Dharmesh Mehta, Mehta Organizations: Getty, Central, CNBC, New York Times, Google, Microsoft, Merchants Locations: New York City, Seattle .

☆ Overworked junior bankers at JPMorgan are getting someone to check on their well-being
▼ + stars: | 2024-09-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +1 min

JPMorgan has created a new role to oversee the well-being of junior bankers and analysts. JPMorgan capped junior bankers' hours at 80 a week earlier this month. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJPMorgan Chase has created a new global role to oversee junior bankers and analysts and prevent overwork.

Persons: Wall, —, JPMorgan Chase, Ryland McClendon, McClendon Organizations: JPMorgan, Service, Reuters, Business

☆ LVMH's Bernard Arnault has gone from the world's richest person to flirting with 5th place after a $54 billion wipeout
▼ + stars: | 2024-09-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Bernard Arnault has gone from the world's wealthiest person to being on the brink of dropping to fifth. The LVMH CEO's net worth has tanked by $54 billion from its March peak, and $30 billion so far this year. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBernard Arnault was the richest person on the planet six months ago; now he's flirting with fifth place.

Persons: Bernard Arnault, —, LVMH Moët Hennessy Louis Vuitton, Elon Musk, Jeff Bezos Organizations: Service, Tesla, Amazon, Bloomberg, Business Locations: Arnault

☆ Kamala Harris' old apartment is on Airbnb from $6,000 a month — and we know at least one person who rented it
▼ + stars: | 2024-09-19 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

Read previewTwenty years ago, inside a humble one-bedroom apartment in San Francisco's South of Market neighborhood, Kamala Harris might've one day dreamed of running for president. Ji has listed the apartment on Airbnb with a minimum of 30-night stays and advertises the "amazing opportunity to live inside the home previously owned by Vice President Kamala Harris." He's even added a commemorative wall with photos from her career, including the day she was sworn in as vice president, according to the listing. Setty served South Indian dishes to guests as they watched Harris debate former President Donald Trump, the Times said. The Times reported that Setty called Harris a "rock star" when talking with other supporters at the debate party.

Persons: —, Kamala Harris might've, Harris, Joe Biden, Zhengtao Ji, David, wasn't, Ji, Kamala Harris, hasn't, Lata Setty, Setty, Donald Trump Organizations: Service, Democratic, The New York Times, Business, Times, The Times, Naval Observatory Locations: San Francisco's, Market, California, Brentwood, Los Angeles, Washington, DC

☆ Voting in space: Boeing Starliner astronauts will vote from the ISS
▼ + stars: | 2024-09-19 | by ( Kristin Fisher | ) edition.cnn.com time to read: +4 min

Thanks to a special Texas law, the two astronauts will still be able to perform their civic duty, voting absentee from low-Earth orbit. Since then, multiple astronauts have cast ballots from space, including now-retired NASA astronaut Leroy Chiao in 2004. Like most US astronauts, Wilmore and Williams live near NASA’s Johnson Space Center in Texas’ Harris County, where election officials confirmed to CNN that they are working with the space agency to send the astronauts their ballots on Saturday. “Before sending the astronauts their ballot, a test ballot with a unique password is sent first,” said Rosio Torres-Segura, a spokesperson for the Harris County clerk. Once the astronauts vote their live ballot, it is returned, printed, and processed with other ballots.”Wilmore and Williams’ ballots will arrive on Earth about five months before they do.

Persons: Butch Wilmore, Suni Williams, Wilmore, Williams, ” Williams, “, ” Wilmore, David Wolf, Russia’s, Leroy Chiao, ‘, ” Chiao, It’s, Chiao, ”, Rosio Torres, Segura Organizations: CNN, International Space Station, NASA, Texas Legislature, Space, Space Network, NASA White, Space Center Locations: Texas, Las Cruces , New Mexico, Houston, NASA’s, Texas ’ Harris County, Harris County

☆ Disney to ditch Slack following July data breach
▼ + stars: | 2024-09-19 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

The Mickey Mouse and Minnie Mouse float passes by during the daily Festival of Fantasy Parade at the Magic Kingdom Park at Walt Disney World on May 31, 2024, in Orlando, Florida. The Walt Disney Company will no longer use Slack for in-house company communication months after a hack that involved more than a terabyte of company data being leaked to the public. Representatives from Disney and Salesforce, the owner of Slack, did not immediately respond to CNBC's request for comment. "Companies also have to take the right measure to prevent phishing attacks and to lockdown their employees' social engineering," he added. Benioff noted that Disney continues to use Salesforce products in other aspects of its business including its Disney store, Disney guides, sales and service operations and its call centers.

Persons: Mickey Mouse, Mouse, Hugh Johnston, Slack, Marc Benioff, Benioff, Disney Organizations: Magic, Walt Disney World, Walt Disney Company, Disney, CNBC, Bloomberg Locations: Orlando , Florida

☆ Eldest-Daughter Syndrome Is Real; Big Sisters Do More, Studies Say
▼ + stars: | 2024-09-19 | by ( Kelli María Korducki | ) www.businessinsider.com time to read: +13 min

But there may be more of a science to eldest daughters than meets the eye. When a mother needed help, biology caused her eldest daughter to step up and mature faster to provide that help. Most striking of all, maternal distress was not found to speed up adrenal puberty in sons or younger daughters. "I have a closer relationship with her, to this day, than I do with many of my other older siblings," he said. His wife grew up as part of a similarly large brood — and her eldest sister had a similar experience.

Persons: Lisa Doucet, Albert didn't, Doucet, Albert, I'm, " Doucet, babysitters, they'd, Molly Fox, Fox, Pamela Jakiela, aren't, isn't, Jonathan Westover, Mary Poppins —, Westover, We're, —, Lenette Azzi, Lessing, Jakiela Organizations: University of California, Fox, Center for Global Development, Williams College, University of Essex, Child, Utah Valley University, Boston University, Child Welfare League of America Locations: Rhode Island, Providence, TikTok, Los Angeles, Kenya, Utah

☆ Los Angeles Dodgers’ Shohei Ohtani becomes first player to join 50/50 club
▼ + stars: | 2024-09-19 | by ( Homero De La Fuente | ) edition.cnn.com time to read: +6 min

CNN —Los Angeles Dodgers superstar Shohei Ohtani etched his name in Major League Baseball history on Thursday, becoming the inaugural member of the 50-50 club on Thursday against the Miami Marlins. A 50-50 season consists of 50+ home runs and 50+ stolen bases in a single season. The historic accomplishment comes after Ohtani faced a personally difficult start to his time in Los Angeles. Los Angeles Dodgers' Shohei Ohtani (17) celebrates after hitting his 50th home run of the season during the seventh inning of a baseball game against the Miami Marlins, Thursday, Sept. 19, 2024, in Miami. With the win against Miami, the Dodgers are guaranteed a spot in the playoffs and give Ohtani his first chance to shine in October.

Persons: Shohei Ohtani, Ohtani, “ I’m, ” Ohtani, Shohei, Andy Pages, Wilfredo Lee, Ohtani swiped, George Soriano, Mike Baumann, Shawn Green, Ronald Acuña Jr, Alex Rodriguez, Ippei Mizuhara, Ohtani –, Mizuhara, –, ”, Marta Lavandier Organizations: CNN, Los Angeles Dodgers, Major League Baseball, Miami Marlins, Dodgers, Miami, Marlins, Atlanta Braves, Seattle Mariners, Angels, Dodger, NL West Locations: Miami, Los Angeles, South Korea, Ohtani

☆ When Bay Area rent got too expensive, I bought a house in the mountains. Living here is a dream, but I'm uncertain about the future.
▼ + stars: | 2024-09-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

I'm the cofounder and CEO of Santa Cruz Fungi. I live in Boulder Creek, California, and my business is headquartered in Santa Cruz. In May 2016, I bought a home for my husband, Paul Lazazzera, and me in Boulder Creek. We married the following year, and Paul started our business in 2021. I had to go over my budget and closed at $535,000 almost a year later on a 740-square-foot house set on half an acre in Boulder Creek.

Persons: —, Katie Sarna, It's, I've, Paul Lazazzera, Paul, Katie, I'd, Shroomsicles, Rida, There's, Lauryn Haas Organizations: Service, Santa Cruz Fungi, Business, lhaas Locations: Santa Cruz, Boulder Creek , California, San Francisco, Boulder Creek, Boulder, Paul, Katie Sarna Boulder, It's, New York City, Francisco

☆ Ron Insana: Federal Reserve chair Jerome Powell unnecessarily complicated the outlook for interest rate policy
▼ + stars: | 2024-09-19 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

In the spirit of ESPN's Monday Night Countdown, a word to Federal Reserve Chairman, Jay Powell ... "C'Mon Man!" While the markets have rebounded nicely on Thursday, it seems to me that Federal Reserve chair Jay Powell unnecessarily complicated the outlook for interest rate policy on Wednesday by saying the Fed will decide, meeting by meeting, what to do next. Meanwhile, long-term interest rates, after having fallen for weeks in anticipation of a half-point cut, which the Fed delivered, have actually moved up a bit. I'm not entirely certain but I suspect it's the lack of clear direction on future rate policy that is the culprit. In those days, the Fed was loathe to discuss its actions publicly and only signaled to markets what it had done with respect to interest rate policy a considerable time after the action was undertaken.

Persons: Jay Powell, Powell, Paul Volcker Organizations: Federal, Fed Locations: China

☆ Over half of the Air Force's Osprey fleet has been cleared to fly after a deadly crash prompted a military-wide grounding
▼ + stars: | 2024-09-19 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +7 min

The news comes less than a year after a deadly November CV-22 Osprey crash in Japan that claimed the lives of eight airmen. AdvertisementJapan Ground Self-Defense Forces soldiers disembark from a V-22 Osprey aircraft. Debris believed to be from a US military Osprey aircraft is seen in waters off the coast of Yakushima Island. The cause of the Japan crash was determined to be the fracturing of a high-speed planetary pinion gear in the aircraft's prop rotor gearbox. US Air Force photo/Senior Airman Christopher CallawayThe Gundam 22 crew did press on after the chip burn lights and did not violate their training.

Persons: —, Michael Conley, that's, We've, Conley, YUICHI YAMAZAKI, Military.com, Jeffrey Hoernemann, Eric Spendlove, Luke Unrath, Terrell Brayman, Zachary Lavoy, Jake Turnage, Brian Johnson, Jake Galliher, Carl Chebi, NAVAIR, we've, Bell, Christopher Callaway, AFSOC, Amber Sax, John Sax, Sax, Konstantin Toropin Organizations: Service, Special, Command, Air, Space Force Association, Business, Defense Forces, Getty, Naval Air Systems Command, Program, Ospreys, Air Force, Osprey, Japan Coast Guard, AP, Air Force Special Operations Command, Tech, Staff, Pentagon, Bell, Boeing, US Air Force, Gundam, Marine Corps Locations: Washington, Japan, Yakushima Island, California

☆ A new tool shows what the climate crisis could feel like in your city
▼ + stars: | 2024-09-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Monthlong heat waves. AdvertisementLocal climate hazardsTo make predictions at a city level, Mackres said WRI built on global climate modeling done by hundreds of other researchers. World Resources InstituteIn Bengaluru, India's fifth-most-populous city, extreme heat has caused severe water shortages and surging energy demand. Now it ranks second behind San Francisco after a series of deadly heat waves prompted residents to install AC. If that demand is met with fossil fuels like oil, gas, and coal, it could exacerbate the climate crisis, WRI said.

Persons: WRI, Eric Mackres, Mackres, haven't Organizations: Service, World Resources Institute, Ross Center for Sustainable Cities, Resources, Bengaluru, US, San Locations: Saharan Africa, Latin America, Indonesia, Africa, Asia, Seattle, Rio de Janeiro, Johannesburg, Bengaluru, India, India's, Brazil, US Pacific Northwest, San Francisco, Tehran, Iran, Marrakech, Morocco

☆ There's a new biggest bull on Wall Street as BMO raises year-end S&P 500 target to 6,100
▼ + stars: | 2024-09-19 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Chief investment strategist Brian Belski lifted his year-end target for the broad index by 500 points to 6,100. That new forecast implies the S & P 500 can climb 8.6% from Wednesday's close. .SPX YTD mountain S & P 500 YTD Belski said his update came after yet another rebound in equities pushed the index to trade around his prior target. Even if the S & P 500 tests lows seen during September's choppy trading, the investing strategist said he remains confident that it can rise into year-end. The S & P 500 has climbed more than 19% in 2024.

Persons: Brian Belski, It's, Belski, What's Organizations: BMO, CNBC, Federal Reserve Locations: Wednesday's, U.S

☆ Trump says he plans to visit Springfield — its Republican mayor isn't so keen
▼ + stars: | 2024-09-19 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +1 min

Donald Trump says he plans to visit Springfield, Ohio, within the next two weeks. Springfield's Republican mayor said "it'd be fine with me" if Trump chose not to visit. Go to newsletter preferences Thanks for signing up! You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementFormer President Donald Trump announced on Wednesday night that he plans to visit Springfield, Ohio, in the coming weeks.

Persons: Donald Trump, Trump, — Organizations: Springfield's Republican, Service, Republican, Business Locations: Springfield , Ohio, Springfield's, Springfield, Aurora, Long Island , New York

☆ The Fed has set out on a 'recalibration' of policy. Here's what Powell's new buzzword means
▼ + stars: | 2024-09-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a "recalibration" of policy at a pivotal moment for the central bank. "This recalibration of our policy stance will help maintain the strength of the economy and the labor market, and will continue to enable further progress on inflation as we begin the process of moving forward a more neutral stance," Powell said. Financial markets weren't quite sure what to make of the chair's messaging in the meeting's immediate aftermath. However, asset prices soared Thursday as investors took Powell at his word that the unusually outsized move wasn't in response to a substantial slowing of the economy. The Dow Jones Industrial Average and S&P 500 jumped to new highs in trading Thursday after swinging violently Wednesday.

Persons: Jerome Powell, Powell, didn't, Tom Porcelli Organizations: Financial, Dow Jones Industrial

☆ Melinda French Gates says CEOs who cut sleep to maximize productivity are 'so dumb': 'Some of us didn't want to be around them'
▼ + stars: | 2024-09-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Melinda French Gates believes it's "so dumb" to try and maximize productivity by getting only a few hours of sleep. French Gates said, referencing CEOs and tech entrepreneurs who promote, in her eyes, a form of performative sleep deprivation. He's since changed his tune, and now aims for at least six hours of sleep per night, he told CNBC last year. Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates — French Gates' ex-husband — have shared similar stories. Now, he aims for a minimum of seven hours of sleep each night, he said.

Persons: Melinda French Gates, she's, Gates, who've, Indra Nooyi, Donald Trump, Marissa Meyer, Elon Musk, Tesla, I've, Musk, Jeff Bezos, Bill Gates, —, Bezos Organizations: PepsiCo, Former U.S, CNBC, Microsoft Locations: Former

☆ Friday's big stock stories: What's likely to move the market in the next trading session
▼ + stars: | 2024-09-19 | by ( Jason Gewirtz | ) www.cnbc.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on September 19, 2024, in New York City. Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here's what CNBC TV's producers were watching as the Dow Jones Industrial Average crossed over the 42,000 mark and what's on the radar for the next session.

Organizations: New York Stock Exchange, CNBC, Dow Jones Locations: New York City

☆ Stocks making the biggest moves premarket: Darden Restaurants, Nvidia, DoorDash, Coursera and more
▼ + stars: | 2024-09-19 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Darden Restaurants — Shares advanced nearly 11% after the restaurant operator announced a multiyear partnership with Uber for on-demand delivery later this year. The company reported weaker-than-expected quarterly earnings and revenue, however, as its sales weakened at Olive Garden and its fine dining restaurants. DoorDash — The food delivery stock rose more than 3% after an upgrade to buy from neutral at BTIG. Alibaba – Shares rose more than 4% after the Chinese e-commerce company launched more than 100 open-source artificial intelligence models and a text-to-video tool. FedEx — Shares rose more than 1% ahead of the shipping giant's first-quarter earnings report due after the bell.

Persons: Uber, Jefferies, chipmakers, FactSet, Alibaba, Max, Stocks, bitcoin, — CNBC's Sean Conlon, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Theobald Organizations: Darden, Olive, NextEra Energy, Nvidia, Arm Holdings, Micron, Micron Technology, FedEx —

☆ Your taxes are going up in 2026, according to Morgan Stanley. Here are 5 tax-advantaged trades to make.
▼ + stars: | 2024-09-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Read previewMorgan Stanley has some disappointing news for investors: your taxes are probably going up in the next few years. But one strategist at Morgan Stanley says it's not that simple. Despite these differences, Morgan Stanley expects tax rates to increase no matter who takes office. And a divided Congress, which Morgan Stanley predicts is very likely in November, will only further reduce the likelihood of dramatic change. Typically, the stock market is more influenced by the business cycle than tax policy or political party, according to Morgan Stanley.

Persons: —, Morgan Stanley, Trump, Kamala Harris, it's, Monica Guerra, Morgan Stanley Wealth Management's, Harris, Biden, There's, haven't, Guerra isn't, Guerra Organizations: Service, Business, Morgan Stanley Wealth, US, Trump, Republican, Democratic, Treasurys, New, Equity Locations: New York City

☆ I've let my daughter do the family grocery shopping alone since she was 7. It fosters her independence.
▼ + stars: | 2024-09-19 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

AdvertisementAfter Paige said she wanted to do the grocery shopping, I thought, "I just need to think about the steps here." Grocery shopping has three parts: what you need, where it is, and checking out. She learned the layout of the grocery store and how to use the chip on the credit card. I'm practicing grocery shopping by myself." Grocery shopping is super fun for her.

Persons: —, Russ Perry, Paige, she'll, I've, Rees, Perry, she's, It's Organizations: Service, Business Locations: Arizona

☆ Muhyyee-Ud-din Abdul-Rahman: Philadelphia teen accused of making and testing bombs wanted to join terror group overseas, prosecutors say
▼ + stars: | 2024-09-19 | by ( Associated Press | ) edition.cnn.com time to read: +2 min

AP —A Philadelphia teenager who authorities say wanted to travel overseas and make bombs for terrorist organizations will be tried as an adult. Prosecutors say Abdul-Rahman conducted at least 12 tests on homemade bombs near his family’s home before he was arrested and was close to being able to detonate devices with a blast radius of several hundred yards. Law enforcement began investigating Abdul-Rahman after they received electronic communications between him and terrorist groups in Syria, prosecutors said. The communications indicated that Abdul-Rahman wanted to become a bombmaker for these groups, identified as Katibat al Tawhid wal Jihad (KTJ) and Hay’at Tahrir al Sham (HTS). As the investigation into Abdul-Rahman continued, authorities learned he was buying military and tactical gear as well as materials that could be used in homemade bombs, prosecutors said.

Persons: din Abdul, Rahman, Abdul, Qawi Abdul, KTJ, Prosecutors Organizations: Muhyyee, Philadelphia, US State Department, Al Locations: Philadelphia, Syria

CNN —A senior adviser to Israeli Prime Minister Benjamin Netanyahu has presented to the Biden administration a new proposed ceasefire and hostage deal with Hamas, an Israeli official told CNN. Reactions to the proposal have widely been that it will be a non-starter for Hamas, which has not commented on it. It is unclear whether the proposal addresses the presence of Israeli troops in Gaza after a ceasefire and hostage deal – a key sticking point in stalled negotiations. The Hostages Families Forum, which has been scathing about Netanyahu’s approach to hostage negotiations, welcomed the proposal. They cited Israel’s assassinations of Hamas leaders in foreign capitals, and said they believed Sinwar would prefer to die fighting Israel than to leave Gaza.

Persons: CNN —, Benjamin Netanyahu, Biden, Gal Hirsh, Netanyahu, Yahya Sinwar, Kan, Joe Biden’s, Hirsh, Roger Carstens, Gershon Baskin, Sinwar, ”, ” Baskin, Hitler, ” Hirsh Organizations: CNN, Hamas, Families, United Nations General Assembly Locations: Gaza, Israel, Israeli, Lebanon, New York, “

☆ Inbolt, a French startup using AI to help factory robots 'see,' just raised $16.7 million using this 12-slide pitch deck
▼ + stars: | 2024-09-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Inbolt has raised $16.7 million in Series A funding to enhance 3D vision and AI for robots. The Paris-based startup aims to improve robotic precision and speed in industrial automation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInbolt, a Paris-based 3D vision and AI startup, has raised €15 million ($16.7 million) in Series A funding. The startup wants to make factory production lines more efficient by using 3D vision and AI to help guide robotic arms with greater precision and speed.

Persons: Inbolt, — Organizations: Exor Ventures, Service, Business Locations: Paris, Detroit

☆ This once-obscure power company is a 'unicorn' poised for new highs on data center demand, analysts say
▼ + stars: | 2024-09-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Talen's surge comes on the back of its deal to sell a data center campus to Amazon Web Services and supply the facility with nuclear power from the Susquehanna station northwest of Allentown, Pennsylvania. The deal is viewed as a trailblazing agreement for the power industry, and Wall Street has taken notice. A year ago, Talen was not covered by any Wall Street analysts, according to FactSet data. And Talen's assets are located almost entirely in the PJM grid, a predominantly mid-Atlantic region where power prices are expected to explode as demand outstrips supply due in part to growing data center load. Data center developers are expected to spend $250 billion annually on data centers, Barclays analyst Nicholas Campanella said in a note this week.

Persons: Talen, Shahriar Pourreza, Pourreza, TLN, William Appicelli, Nicholas Campanella, Campanella, amortization, Appicelli Organizations: Talen Energy Corporation, Amazon Web Services, Street, Barclays, Guggenheim, Jefferies, UBS, Susquehanna, Talen Energy, AWS, American Electric Power, AEP, Federal Energy Regulatory Commission Locations: Susquehanna, Allentown , Pennsylvania, Wednesday's

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