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☆ Here are Monday's biggest analyst calls: Nvidia, Broadcom, Apple, Tesla, Flutter, Caterpillar, Alphabet & more
▼ + stars: | 2024-10-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Monday: TD Cowen reiterates Nvidia as buy TD said Nvidia remains a top pick at the firm. Goldman Sachs upgrades Ibotta to buy from neutral Goldman Sachs reiterates Alphabet as buy Goldman lowered its price target on the stock to $208 per share from $217 citing a slew of headwinds for Alphabet. Wells Fargo upgrades Flutter to overweight from equal weight Wells says investors should buy the dip in shares of the gambling company. Goldman Sachs downgrades AutoZone to sell from buy Goldman downgraded the auto parts retailer due to "muted growth." Goldman Sachs upgrades Ibotta to buy from neutral Goldman says it likes the growth opportunity for the mobile tech company.

Persons: TD Cowen, Mizuho, Goldman Sachs, Goldman, Wells, Truist, Morgan Stanley, Caterpillar, Piper Sandler, Tesla, Piper, wouldn't, it's, Baird, KeyCorp, Jefferies, it's bullish, Stock, GOOS, AppLovin, Oppenheimer Organizations: Nvidia, NVIDIA, Away Tech, Mizuho, AMD, Broadcom, UBS, Partners, Surgery Partners, Apple, VF Corp, Vans, UW, Walmart Locations: Wells Fargo, China

☆ Goldman Sachs raises China growth outlook on optimism over Beijing's fresh push to revive struggling economy
▼ + stars: | 2024-10-14 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Goldman Sachs analysts upgraded their growth forecast for China from 4.7% to 4.9% for this year. AdvertisementChina may not fall too short of its growth targets this year after all, Goldman Sachs analysts said. The analysts also upgraded their growth forecast for next year, from 4.3% to 4.7%. Advertisement"The '3D' challenges - deteriorating demographics, a multi-year debt deleveraging trend, and the global supply chain de-risking push are unlikely to be reversed by the latest round of policy easing," they added. China's recent stimulus pushes have aimed to prop up its weak economy, which has been plagued by a struggling property sector and weak domestic demand.

Persons: Goldman Sachs, —, Goldman, China's Organizations: Service, Ministry of Finance, National Development, Reform Locations: China, Beijing

☆ International investors descend on London as Labour tries to woo new business to Britain
▼ + stars: | 2024-10-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — The U.K. Labour government is hoping to woo foreign capital to the country on Monday, as it hosts its inaugural International Investment Summit in London. Prime Minister Keir Starmer, Finance Minister Rachel Reeves and Business Minister Jonathan Reynolds will lead the one-day event at London's Guildhall, which is expected to be attended by around 200 executives from the U.K. and overseas. Former Google chair Eric Schmidt, Goldman Sachs CEO David Solomon and GSK CEO Emma Walmsley are among the named guests. Newly appointed Investment Minister Poppy Gustafsson, co-founder of British cybersecurity firm Darktrace, will also be on hand to promote the U.K. as a place to do business. The date was determined by Labour's pre-election pledge to hold a business summit within its first 100 days in office.

Persons: Keir Starmer, Rachel Reeves, Jonathan Reynolds, Eric Schmidt, Goldman Sachs, David Solomon, Emma Walmsley, Poppy Gustafsson, Dr, Bruce Morley, Labour's, Reeves Organizations: Labour, International Investment Summit, Business, London's Guildhall, British, CNBC, University of Bath, National Insurance, Capital, Guardian, Treasury Locations: London

☆ CNBC Daily Open: With a stagnant PPI, the Fed’s nearly at the finish line
▼ + stars: | 2024-10-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning week for marketsAll major U.S. indexes rose Friday on the back of encouraging inflation data and positive earnings from big banks. That gave them a winning week. Banks' earnings in good shapeJPMorgan Chase , the biggest bank in the U.S., reported third-quarter earnings and revenue that beat estimates.

Persons: Jerome Powell, Europe's, Tesla's, Tesla, Elon Musk, Musk, of Finance Lan Fo'an, Lan, Banks, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley Organizations: US Federal Reserve, National Association of Business Economics, CNBC, of Finance, JPMorgan, It's Bank of America Locations: Nashville , Tennessee, U.K, China, Beijing, U.S

☆ We still have this lagging chipmaker on our buy list as the stock market pushes to more new highs
▼ + stars: | 2024-10-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Morgan Stanley, Wells, Stocks, Lisa Su, Su didn't, Goldman Sachs, Johnson, Jim Cramer's, Jim Organizations: CNBC, Dow, Nasdaq, Monday, Tech, Energy, Wells, Nvidia, AMD, Citigroup, Bank of America, United Health, Walgreens, Abbott Laboratories, Jim Cramer's Charitable Locations: Friday's, China

☆ Stock market today: Indexes trade mixed as investors await wave of earnings results
▼ + stars: | 2024-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks were mixed on Monday as investors await third-quarter earnings from major companies. Investors will monitor retail sales and jobless claims data this week. AdvertisementUS stocks were mixed on Monday as investors await a wave of third-quarter earnings results this week. More than 40 S&P 500 companies are set to report results this week, including Netflix, Morgan Stanley, and Goldman Sachs. AdvertisementBoth data points will give investors insights into the health of the consumer and job market, respectively.

Persons: Christopher Waller, Adriana Kugler, —, Morgan Stanley, Goldman Sachs Organizations: Investors, Federal Reserve, Service, Netflix, Fed Locations: Fundstrat, Here's

☆ Stocks making the biggest moves premarket: Flutter Entertainment, Boeing, SiriusXM, Caterpillar and more
▼ + stars: | 2024-10-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Crypto stocks – Stocks linked to cryptocurrencies rose as Bitcoin soared above $64,000 to start the week. Flutter Entertainment – The FanDuel parent company popped 4% after Wells Fargo upgraded shares to overweight , saying that investors should consider buying the stock following the recent sell-off. Boeing also postponed the delivery of its still-uncertified 777X wide-body plane and forecasted a wider-than-expected loss for the third quarter. Sirius XM Holdings – The audio entertainment company rose 3.5% after Warren Buffett's Berkshire Hathaway disclosed that it purchased more of the stock. Caterpillar – The industrial company slipped more than 2% after Morgan Stanley downgraded shares to underweight from equal weight.

Persons: MicroStrategy, Mara, Mara Holdings —, Coinbase, Wells, Warren Buffett's Berkshire Hathaway, Morgan Stanley, Goldman Sachs, AppLovin, Eli Lilly's, —, Alex Harring, Samantha Subin, Jesse Pound, Sarah Min, Hakyung Kim, Pia Singh Organizations: Mara Holdings, Boeing –, Boeing, Sirius XM Holdings, Berkshire, Sirius, Caterpillar, Walmart, Food and Drug Administration

☆ Asia markets open higher after China weekend briefing hints at more stimulus; economic data in focus
▼ + stars: | 2024-10-14 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

"China's growth recovery and north Asia's earnings rebound in 2024 remain our key investment themes and overweight areas," Goldman Sachs' strategists, led by Timothy Moe, wrote in a Saturday note. Asia-Pacific markets opened higher Monday, as investors assessed China's weekend press briefing and awaited a slew of economic data this week from the region. Both metrics missed expectations of economists polled by Reuters, who estimated CPI to rise 0.6% and PPI to decline 2.5%. China is set to release its trade data for September on Monday, with exports expected to rise 6%, a slower growth than 8.7% in August, while imports are estimated to grow 0.9%, compared to 0.5% in August. China watchers also look ahead to the week with a busy set of economic data, including China's third-quarter GDP, September industrial output growth, retail sales and unemployment rate.

Persons: Goldman Sachs, Timothy Moe, Finance Lan Fo'an Organizations: China's, Finance, Reuters, PPI Locations: Asia, Pacific, China

☆ Dow futures are little changed after index closes above 43,000 for the first time: Live updates
▼ + stars: | 2024-10-14 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Dow Jones Industrial Average futures are near flat Monday night after the blue-chip index closed at a record. S&P 500 futures and Nasdaq 100 futures also both traded near their flatlines. Those moves come after a winning day on Wall Street that propelled the S&P 500 and Dow to new intraday highs and record closes. Information technology stocks led the S&P 500 higher in the session, with the sector finishing nearly 1.4% higher. Beyond banks, United Airlines , Walgreens Boots Alliance and Johnson & Johnson are also on the docket.

Persons: Scott Chronert, Goldman Sachs, Johnson, Mary Daly, Raphael Bostic, Adriana Kugler Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow, Nvidia, Citigroup, Bank of America, United Airlines, Walgreens Boots Alliance, Johnson, San Francisco Federal, Atlanta Fed Locations: New York City, Citi's, United

☆ CNBC Daily Open: With an unchanged PPI, the Fed’s near the finish line
▼ + stars: | 2024-10-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Persons: Tesla's, Tesla, Elon Musk, Musk, of Finance Lan Fo'an, Lan, Banks, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley Organizations: New York Stock Exchange, CNBC, of Finance, JPMorgan, It's Bank of America Locations: New York, Asia, Pacific, Shanghai, Beijing, China, U.S

☆ Earnings playbook: The first big week of the season includes reports from Netflix and big banks
▼ + stars: | 2024-10-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Last quarter: Bank of America jumped after saying a rebound in net interest income was coming . What history shows: Bank of America shares have risen in 10 of the last 12 earnings days, according to Bespoke Investment Group. What history shows: Netflix tends to struggle on earnings days, averaging a slight decline, according to Bespoke. Shares have also fallen in two of the last three earnings days, including a 9.1% drop in April. What history shows: Bespoke data shows Procter & Gamble beats earnings expectations 85% of the time.

Persons: Goldman Sachs, Wells, Hugh Son, Goldman, Leslie Josephs, Wednesday Morgan Stanley, Morgan Stanley, Bryan Kraft, Kraft, Procter & Gamble, Procter, Lauren Lieberman Organizations: Netflix, Procter, Gamble, Big, Bank of America, JPMorgan Chase, BlackRock, Tuesday Bank of America, CNBC, Investment, LSEG, JPMorgan, United Airlines, U.S, Delta, Wednesday, Deutsche Bank, Procter &, Barclays Locations: Wells Fargo, U.S, China

☆ Warren Buffett's Bank of America position goes under wraps. Here's what could happen next
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].

Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S

☆ China's real estate stimulus could boost this stock, analysts say
▼ + stars: | 2024-10-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

While China's property development giants find their footing amid the ongoing real estate slump, several analysts have their sights on housing transaction and services platform KE Holdings . The stock also trades in Hong Kong. In contrast, an index of Chinese property stocks in Hong Kong has gained just under 3% for the year after a volatile three weeks. But China's giant property developers now face a market that's very different from the one they saw in their heyday. Goldman has a price target of 54 Hong Kong dollars ($6.95) and $21 for the company's U.S.-listed shares.

Persons: Jefferies, Xi Jinping, Richard Tang, Hong Kong, Julius Baer, Tang, Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: KE, KE Holdings, Jefferies, CNBC, People's Bank of, Bank of America Securities, Bank of America, BofA Securities, Goldman, Hong Locations: U.S, Hong Kong, Friday's, China, People's Bank of China, Beijing, Hong

☆ Earnings will drive the stock market in the week ahead. That's a good thing
▼ + stars: | 2024-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

In Friday's look at wholesale inflation, the producer price index was unchanged month over month . We'll hear from Club holdings Morgan Stanley and Abbott Laboratories on Wednesday morning. Morgan Stanley: The ongoing recovery in investment banking will be front and center. That was a key theme in the second quarter , and the hope is that the July-to-September period showed a continuation of the trend for Morgan Stanley. Morgan Stanley has been strong lately, though.

Persons: Jim Cramer, Jim, Gamble, — Wells, industrials, Goldman Sachs, ASML, Morgan Stanley, Morgan Stanley's, Louis, Abbott, Charles Schwab, Johnson, JB Hunt, Kinder Morgan, Huntington, Jim Cramer's, Charly Triballeau Organizations: Club, Dow Jones, Nasdaq, Procter, Federal, JPMorgan, —, Tech, . Utilities, UnitedHealth, Taiwan Semiconductor Manufacturing, Abbott Laboratories, Abbott Labs, NEC, Abbott, Food and Drug Administration, Walgreens Boots Alliance, Citigroup, Bank of America, United Airlines, Interactive, US Bancorp, Citizens, Alcoa, PPG Industries, CSX, Truist, Netflix, Crown Holdings, American Express, Gamble, CNBC, New York Stock Exchange, Financial, Afp, Getty Locations: Wells, U.S, Wells Fargo, St, Taiwan, New York City

☆ 18 stocks to buy now, including the top tactical options trades to make ahead of earnings, according to Goldman Sachs
▼ + stars: | 2024-10-13 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Market sentiment can be gauged by following options traders' actions and fair-value gaps. Goldman Sachs predicts a relief rally for 18 stocks with positive options market sentiment. But if you get it right, you're rewarded with outsize returns. Not only that, but analysts at Goldman Sachs have found that the options market implies average earnings-day moves of 6% in either direction for S&P 500 stocks. Below is the list of 18 stocks which includes their options-implied stock move and the strike price for each contract.

Persons: Goldman Sachs, —, outsize, Goldman, John Marshall Organizations: Service, Federal

☆ Stock futures are flat in overnight trading with key corporate earnings on deck: Live updates
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures were little changed in overnight trading Sunday as investors waited to assess whether the next batch of key corporate earnings could power the market to more records. S&P 500 index futures were flat, while Nasdaq-100 futures dipped 0.1%. The S&P 500 closed above 5,800 for the first time, while the blue-chip Dow also reached an all-time high. The S&P 500 has gained nearly 22% this year, excluding reinvested dividends. Treasury yields have risen lately too, with the benchmark 10-year note yield, used to calculate everything from mortgages to auto loans, topping 4.1% last week.

Persons: Wells Fargo, Dow, Goldman Sachs, Johnson, Morgan Stanley, Adam Crisafulli Organizations: New York Stock Exchange, Stock, Dow Jones Industrial, Nasdaq, Columbus, JPMorgan Chase, Bank of America, Johnson, United Airlines, Walgreens Boots Alliance, Netflix, Procter, Gamble, Federal, Vital, Treasury Locations: New York City

☆ Where you should look for a job if you can't break into consulting, according to a Harvard career advisor
▼ + stars: | 2024-10-12 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

A Harvard career advisor says there are other ways to jump-start your career beyond consulting. Related storiesThat's where dedicated early-career programs come in. AdvertisementNg said those are the exact kinds of perks that new grads can get at companies with early-career programs. Ng has compiled a list of more than 1,000 companies that have early-career programs. As for the tech companies with dedicated early-career programs, his list includes companies such as Nvidia, PayPal, Snap, Dropbox, Zoom, and Workday.

Persons: —, Gorick Ng, they're, Ng, he's, Z, Young, gunning, Grainger, He's, Goldman Sachs, Piper Sandler, it's, there's Organizations: Harvard, Service, Harvard University, Consulting, GE, Fifth Third Bank, Aon, CNBC, NBC Universal, Nvidia, PayPal, UBS, Deutsche Bank

☆ S&P 500 grinds higher to further record highs, finding little to fear in October
▼ + stars: | 2024-10-12 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

This time of year typically tests nerves, more so when — as now — an election is onrushing and the S & P 500 was already up 20% for the year. Since June 30, the equal-weighted S & P 500 has gained 9.5%, more than triple the Nasdaq 100's rise. A buyer at the mid-July S & P 500 peak of 5667 sustained a quick 8% tumble in three weeks. Goldman Sachs calculated VIX being this elevated with the S & P 500 calmly clicking to record highs is essentially unheard-of. Cash that's still yielding well more than inflation and bonds holding their value allow investors to shoulder higher equity exposures rather than rotating out.

Persons: isn't, it's, Goldman Sachs, Cash, Friday's Organizations: Federal Reserve, Nasdaq, American Association of, Deutsche, –, Bank

☆ Goldman Sachs says these stocks are a table-pounding buy ahead of earnings
▼ + stars: | 2024-10-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Analysts at Goldman Sachs named a slate of stocks to snap up as earnings season gets underway. Those names include LivaNova , Spotify Technology, TKO Group and ServiceNow. TKO Group The sports media company and owner of the UFC is firing on all cylinders ahead of earnings in November. TKO Group shares are up 56% in 2024. LivaNova Analyst David Roman and his team recently initiated coverage of LivaNova with a buy rating.

Persons: Goldman Sachs, Eric Sheridan, Sheridan, Christian Luiga, Stephen Laszczyk, Laszczyk, David Roman, Roman, LivaNova Organizations: Goldman, Spotify Technology, Spotify, UFC, TAM, Sports Media

☆ A portfolio manager at a $21 billion firm warns the odds of a recession have risen to 40% from 20% as inflation and geopolitical concerns surge — and shares where he's investing
▼ + stars: | 2024-10-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

Zehrid Osmani, a portfolio manager at the $21 billion investment manager Martin Currie, has actually increased his recession odds. US-China tensions are escalating over Taiwan, home to the world's largest semiconductor foundry, Taiwan Semiconductor Manufacturing Company. Osmani sees what he calls "seismic thematic shifts" in these areas. And Osmani sees potential for parts of the market driving the energy transition, such as alternative energy and electric vehicles. AdvertisementHis top picks include Nvidia (NVDA), Microsoft (MSFT), chemical company Linde plc (LIN), and industrial manufacturing company Atlas Copco (ATLKY).

Persons: Martin Currie, —, Goldman Sachs, Jan Hatzius, Zehrid, Currie, hasn't, Osmani Organizations: Service, Technology, Taiwan Semiconductor Manufacturing Company, Semiconductors, Nvidia, Microsoft, Linde, LIN, Atlas, Martin Currie Global Portfolio Trust Locations: Europe, Russia, Ukraine, Israel, China, Taiwan

The S&P 500 and Dow Jones Industrial Average powered to new highs on Friday and capped off a winning week as banking behemoths ushered in a promising start to the third-quarter earnings season. The broad index gained 0.6% to end at 5,815.03, while the Dow rallied 409.74 points, or nearly 1%, to finish at 42,863.86. The S&P and Nasdaq jumped 1.1% each, while the Dow toted a 1.2% gain. A strong start to the third-quarter earnings season provided a lift to stocks. That included a cooler-than-expected September producer price index reading after the consumer price index increased slightly more than expected.

Persons: —, ”, Craig Sterling, JPMorgan Chase, Wells, Kim Forrest, Forrest, Stocks, Goldman Sachs, David Russell, “ Organizations: Dow Jones Industrial, Dow, Nasdaq, JPMorgan, Bokeh Capital Partners, “, Federal, Federal Reserve

☆ These stocks are best-positioned to gain in the next wave of AI investment, Goldman Sachs says
▼ + stars: | 2024-10-11 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

In the next wave of investment, Goldman Sachs analysts recommend "platform" stocks like Microsoft and Datadog. In the next round of AI investment, Goldman Sachs analysts say investors should look past the obvious picks—Nvidia and AI infrastructure companies—and toward a select set of platforms set to build out a direct application of AI. "Our equity analysts believe 'platform' stocks, including databases and development tools, are set to be the primary beneficiaries of the next wave of generative AI investments. AdvertisementThe analysts name Microsoft, DataDog, MongoDB, Elastic, and Snowflake as the best-positioned platform stocks as they roll out AI-integrated applications. AdvertisementThe analysts' comments come after flows into AI stocks dwindled over the summer as traders expressed worries over returns on big AI spending.

Persons: Goldman Sachs, — Organizations: Microsoft, Service, Nvidia, Federal Reserve Locations: Snowflake

☆ Investors should buy the dip on any potential year-end corrections, says Christian Mueller-Glissmann
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should buy the dip on any potential year-end corrections, says Christian Mueller-GlissmannChristian Mueller-Glissmann, Goldman Sachs head of asset allocation research, joins 'Squawk Box' to discuss the latest market trends, why he believes market risks may drive a correction into the end of the year, whether investors should buy the dip, and more.

Persons: Christian Mueller, Glissmann Christian Mueller, Glissmann, Goldman Sachs

☆ Three Buys and a Bail: Goldman Sachs, Caterpillar, D.R. Horton, and Best Buy
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree Buys and a Bail: Goldman Sachs, Caterpillar, D.R. Horton, and Best BuyGina Sanchez, Lido Advisors chief market strategist, joins CNBC's 'The Exchange' to discuss these stocks: Goldman Sachs, Caterpillar, D.R. Horton, Best Buy.

Persons: Goldman Sachs, Gina Sanchez, Horton Organizations: Caterpillar, Lido Advisors Locations: Horton

Valued at $4 billion in 2021, Cerebras is reportedly seeking to roughly double that in its IPO. The customer, G42, is backed by Microsoft , and it's entirely responsible for the $1.43 billion purchase commitment. G42 can pick up $500 million more in Cerebras shares if it commits to spend $5 billion on the company's computing clusters. The major Wall Street banks, for their part, are finding other ways to play in the burgeoning AI infrastructure market. Fitch, who said he sold out of his Nvidia stock years ago, told CNBC that the benefits outweigh the risks.

Persons: Andrew Feldman, Ramsey Cardy, Cerebras, —, David Golden, it's, prepayment, CFIUS, Mike Gallagher, Gina Raimondo, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Young, There's, Peter Thiel, Eva Marie Uzcategui, there's, Thiel, Jim Fitch, Fitch, Feldman Organizations: Cerebras Systems, Nvidia, Revolution Ventures, JPMorgan Chase, Microsoft, AstraZeneca, GlaxoSmithKline, Mayo Clinic, Treasury, Foreign Investment, Reuters, Chinese Communist Party, JPMorgan, Citigroup, Barclays, BDO, KPMG, Deloitte, Ernst, Riverstone Networks, CoreWeave, Clarium Capital Management LLC, Bloomberg, Getty, Mizuho Securities, Venture, CNBC, Devices Locations: Toronto, U.S, Sunnyvale , California, Abu Dhabi, China, Miami , Florida, Los Angeles, Florida

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