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☆ Forget Nvidia. This is the biggest tech earnings mover of the day and Goldman sees 70% upside
▼ + stars: | 2024-11-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The sharp move higher puts the cloud-based data stock on pace for its best day ever. SNOW YTD mountain Snowflake stock headed for its best day ever on Thursday. Goldman analyst Kash Rangan reiterated a buy rating on Snowflake following its third-quarter results, and maintained his price target of $220 per share. JPMorgan, others bullish too JPMorgan Chase analyst Mark Murphy maintained an overweight rating on Snowflake stock, but increased his price target to $185 per share. The analyst reiterated his neutral rating on Snowflake stock but increased his price target to $185 per share from $160, equating to more than 43% upside moving forward.

Persons: Sridhar Ramaswamy, Goldman, Kash Rangan, Rangan, Mark Murphy, Murphy, Brad Sills, he's, Sills, Wells Fargo's Michael Turrin, Turrin Organizations: JPMorgan, Bank of America Locations: Snowflake

☆ I paid $160 to get a French manicure in Paris. The technique wasn't unique, but the long-lasting results impressed me.
▼ + stars: | 2024-11-21 | by ( Gia Yetikyel | ) www.businessinsider.com time to read: +1 min

Gia YetikyelBefore getting into the review, I must admit to committing multiple nail offensives before and during this appointment. Usually, salons offer a grace period for tardiness, but I wasn't sure what timeframe applied to this salon. I arrived with "Je suis désolé" ("I'm sorry") bubbling up my throat and explained, in English, how the traffic delayed me. The second sin was not booking a nail removal with my appointment. Not booking the appropriate services can throw off a nail tech's entire schedule and create delays for future appointments.

Persons: Gia Yetikyel, Maëlle

☆ Hiring is already picking up again postelection, recruiters say
▼ + stars: | 2024-11-21 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

As any recent job-seeker can tell you, hiring has been sluggish for the better part of the year. But good news could be on its way: After many organizations seemed to pause their hiring efforts ahead of the U.S. presidential election, recruiters say they're already seeing an upswing of activity that could extend into the new year. "Now that there is a clear president-elect, we saw the hiring market, especially for the executive-level candidates, open up almost immediately," Boggs tells CNBC Make It. In the week after the election, four of her clients signed offers for new jobs. Job-seeking clients are also seeing an uptick in new roles being posted online, recruiter reach-outs and interviewing activity, she adds.

Persons: Debra Boggs, Donald Trump, Kamala Harris, Boggs Organizations: U.S, Management, CNBC

☆ Baidu posts 3% drop in third-quarter revenues, beating market expectations
▼ + stars: | 2024-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app. Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China. "AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.

Persons: Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo Organizations: Baidu, CNBC Locations: BEIJING, U.S, Beijing, China

☆ CHART: How Nvidia's revenue has exploded in recent years
▼ + stars: | 2024-11-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

AdvertisementNvidia's revenue surged 94% year-over-year last quarter, driven by solid demand for its GPU chips. The historic growth is expected to continue, with analysts estimating more than $200 billion in revenue next year. The company reported revenue of $35.08 billion in the quarter, representing a 94% year-over-year surge and a 492% increase from its third quarter in fiscal year 2023. The massive breakout in Nvidia's revenue growth occurred shortly after OpenAi introduced ChatGPT in November 2022, which was during the fourth quarter of its fiscal year 2023. If Nvidia can meet Wall Street's lofty growth expectations going forward, its stock price could extend its historic run.

Persons: Goldman Sachs, OpenAi, Hopper Organizations: Microsoft, Nvidia, Blackwell

☆ Dell pays $2.3 million to settle claims that it overcharged the US Army for computers
▼ + stars: | 2024-11-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

AdvertisementDell has agreed to pay $2.3 million to settle claims that it violated the False Claims Act. Dell and reseller Iron Bow overcharged the US Army for computers over four years, the DOJ said. Dell has agreed to pay $2.3 million to resolve allegations it violated the False Claims Act in its business with the US Army. Iron Bow has agreed to pay just over $2 million to settle the claims, bringing the combined settlement to $4.3 million. Iron Bow did not respond to a request for comment from Business Insider, made outside normal working hours.

Persons: Dell, Bow, Brent Lillard, Brandon Bell, Brian M, Boynton, Prim, Escalona, Donald Trump, Elon Musk, Vivek Ramaswamy, Ramaswamy Organizations: Dell, US Army, DOJ, The, Justice, Army, Army Desktop, Mobile Computing, Government, Justice Department's Civil, Northern, Northern District of, Elon, " Department of Government, Business Locations: Texas, Bow, United States, Northern District, Northern District of Alabama

☆ Asia markets mostly poised to fall as investors assess Nvidia results, Adani charges
▼ + stars: | 2024-11-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are mostly set to fall on Thursday, with investors watching tech shares in the region after chipmaker Nvidia reported better-than-expected results. Nvidia reported a 94% year-on-year surge in revenue for the third quarter to $35.08 billion. However, that is still a consecutive slowdown from the previous three quarters, when sales rose 122%, 262%, and 265%, respectively. Net income during the quarter rose to $19.3 billion, versus $9.24 billion in the same period a year ago. All eyes are on Indian stocks related to billionaire Gautam Adani, after the chair of India's Adani Group was indicted with others in New York federal court on charges related to a massive bribery and fraud scheme.

Persons: Gautam Adani, India's Organizations: Nvidia Locations: Asia, Pacific, New York

☆ Nvidia's Blackwell era will test the world's most valuable company in a highwire act
▼ + stars: | 2024-11-21 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

To deliver with Blackwell, Nvidia must juggle performance expectations and complex supply chains. How next year plays out will significantly depend on the performance of Blackwell, its next-generation AI chip. The Santa Clara-based chip giant reminded everyone why it has grown more than 200% this year to become the world's most valuable company. AdvertisementNvidia must navigate complex supply chainsFirst, Blackwell is what Nvidia CFO Colette Kress called a "full-stack" system. There had been some recent suggestions that cooling issues were plaguing Blackwell, but Huang seemed to suggest they had been addressed.

Persons: Blackwell, Dan Ives, Jensen Huang, Colette Kress, Kress, Goldman Sachs, Toshiya Hari, Huang, I've, Hopper, Hamish Low, Low Organizations: Nvidia, Blackwell, Revenue, Hopper, SK Hynix, Blackwell's, AMD, Enders Analysis Locations: Santa Clara, Silicon Valley, Connecticut

☆ Two Sigma's new leaders have made their mark with hundreds of job cuts. Here's what could come next for the $60 billion firm.
▼ + stars: | 2024-11-21 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

The hedge fund is run by co-CEOs Carter Lyons and Scott Hoffman, who took over for Two Sigma's billionaire cofounders in September. The firm is planning to continue to invest in its core strategies, a person close to the manager said. Related Video How tech layoffs could affect the economyNo portfolio managers were eliminated, a person close to the manager told Business Insider. AdvertisementThe goal is to be more disciplined as the firm grows going forward, the person close to Two Sigma said. AdvertisementIn this light, the latest cuts could be seen as a clean-up of balance sheet bloat — but the person close to the firm said that a listing has not been discussed in any form.

Persons: Carter Lyons, Scott Hoffman, cofounders, cofounders John Overdeck, David Siegel, Lyons, Hoffman, Lazard's Organizations: Sigma, Business, Bloomberg, shepherding Locations: New York

☆ Nvidia shares slump 3% in premarket as quarterly revenue growth slows
▼ + stars: | 2024-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

POLAND - 2024/11/13: In this photo illustration, the NVIDIA company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)Nvidia shares dropped in U.S. premarket trading Thursday after the tech giant's third-quarter earnings failed to impress investors. ET, following the Wednesday release of Nvidia's quarterly results, which beat on both the top and bottom lines. Other chipmakers fell on the back of the market reaction to Nvidia's third-quarter results. The slump in Nvidia also had a knock-on effect on European semiconductor firms.

Persons: Piotr Swat, chipmakers Organizations: NVIDIA, Getty, Nvidia, Revenue, Intel, Qualcomm, Micron Technology, AMD, BE Semiconductor, STMicroelectronics, Infineon Locations: POLAND, U.S, Dutch, Asia

☆ AI systems could 'turn against humans': Tech pioneer Yoshua Bengio warns of artificial intelligence risks
▼ + stars: | 2024-11-21 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +6 min

Professor Yoshua Bengio, at the One Young World Summit in Montreal, Canada, on Friday, Sept. 20, 2024Famed computer scientist Yoshua Bengio — an artificial intelligence pioneer — has warned of the nascent technology's potential negative effects on society and called for more research to mitigate its risks. Machines could soon have most of the cognitive abilities of humans, he said — artificial general intelligence (AGI) is a type of AI technology that aims to equal or better human intellect. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsSuch outcomes are possible within decades, he said. There are arguments to suggest that the way AI machines are currently being trained "would lead to systems that turn against humans," Bengio said. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsCompanies developing AI must also be liable for their actions, according to the computer scientist.

Persons: Yoshua Bengio, —, Bengio, CNBC's Tania Bryer, That's, we're, OpenAIhas, It’s, Yoshua, — that's, OpenAI Organizations: Young, Summit, University of Montreal, Montreal Institute, Machines, Intelligence, CNBC, Learning Locations: Montreal, Canada, AGI, U.S, Rwanda, Swiss

☆ Musk and Ramaswamy float ending remote work for federal employees and ‘large-scale firings’
▼ + stars: | 2024-11-20 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +4 min

Incoming Trump administration advisers Elon Musk and Vivek Ramaswamy on Wednesday floated ending remote work for federal workers, calling the practice a “privilege” left over from the pandemic. “Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don’t want to show up, American taxpayers shouldn’t pay them for the Covid-era privilege of staying home,” the two men wrote. The future of remote work for office-based employees is hotly debated. Some unionized federal workers have criticized Musk and Ramaswamy, saying they don’t know what they’re doing. Erwin said the two tech figures “make absurd claims about government waste and bash dedicated federal employees.” His union says it represents 110,000 federal employees.

Persons: Elon Musk, Vivek Ramaswamy, ”, Biden, Ramaswamy, Donald Trump, Musk, Randy Erwin, Erwin Organizations: Trump, Street, Management, of Government, SpaceX, CNBC, Tesla, National Federation of Federal Employees Locations: Washington

Black Friday is still a few weeks away, but early Black Friday Best Buy deals are already here, with notable deals on TVs, laptops, headphones and more. I frequently cover shopping events as a tech reporter for NBC Select, and I’ve been combing through discounts to find the best early Black Friday Best Buy deals actually worth shopping. SKIP AHEAD Best early Black Friday Best Buy deals | How I found the best early Black Friday Best Buy deals | Why trust NBC Select? How I found the best early Black Friday Best Buy dealsAll of my recommendations above are based on NBC Select’s previous coverage and reporting. For this piece, I researched early Black Friday deals across Best Buy to find notable products across categories like home, audio, TVs and gaming.

Persons: Belkin, Zoe Malin’s, It’s, Smart, Mario, TikTok Organizations: Retailers, Walmart, Home, NBC, Echo, Gaming, Nintendo, Mario Kart, Travel, Giftable Tech, Facebook, Twitter

In just a few months, the world will have its first digital saint. Pope Francis on Wednesday announced April plans to canonize a teenage web designer who documented miracles online and used his tech skills to maintain web sites for local Catholic organizations. Acutis, who was born to Italian parents in London, was a web designer who died of leukemia in Italy in 2006 at the age of 15. The church has attributed two miracles to the teen informally known as “God’s influencer.”In May, the pope attributed a second miracle to the teen, who is set to become the church’s youngest contemporary saint. The move came four years after he was beatified in 2020 after one miracle was attributed to him.

Persons: Pope Francis, Carlo Acutis, ”, canonize, Giorgio Frassati Organizations: Wednesday, Adolescents, Vatican News, Roman Catholic Church Locations: Italy, London, Italian

Black Friday is almost here, and Target is already offering deals on apparel, holiday decor, tech and more that you can shop right now. As an associate reporter for NBC Select, I frequently cover Target deals and sales year round. SKIP AHEAD Best early Black Friday Target deals | More early Black Friday Target sales |Why trust NBC Select? Best early Black Friday Target deals4.8-star average rating from 3,285 reviews at TargetThis Apple iPad is our pick for the best overall tablet due to its functionality and price. Best early Black Friday Target salesHere are the best early Black Friday Target sales to know about.

Persons: ”, Harry Rabinowitz, terry, Rabinowitz, TikTok Organizations: Target, NBC, Garmin, Facebook, Twitter Locations: woofers

☆ The Department of Justice asks court to force Google to spin off Chrome
▼ + stars: | 2024-11-20 | by ( Brian Fung | ) edition.cnn.com time to read: +7 min

Google has promised to appeal; the company didn’t immediately respond to a request for comment on Wednesday’s filing. “Google is a monopolist, and it has acted as one to maintain its monopoly,” Mehta wrote in his opinion. The Microsoft case has been credited with paving the way for Mozilla’s Firefox and Google’s Chrome browsers, which ultimately allowed Google to promote its search engine to billions of internet users. The Microsoft parallels in the Google case are clear, Mehta wrote in his August opinion. Even as Google fights the Justice Department on remedies in the search case, the company is embroiled in another antitrust battle just across the Potomac River in Alexandria, Virginia.

Persons: didn’t, Amit Mehta, Mehta, Satya Nadella, Bing, OpenAI, Trump, Joe Biden, – Mehta, Sherman, ” Mehta, “, ” Organizations: CNN, Google, Justice Department, Apple, Samsung, DOJ, Microsoft, Verizon, Court, District, Columbia, Chrome, Windows, Netscape, Department Locations: California, Alexandria , Virginia

☆ DOJ pushes for Google to break off Chrome browser after antitrust case
▼ + stars: | 2024-11-20 | by ( Jennifer Elias | ) www.cnbc.com time to read: +4 min

REUTERS/Ken CedenoThe Department of Justice is calling for Google to divest its Chrome browser, following a ruling in August that the company holds a monopoly in the search market. Chrome, which Google launched in 2008, provides the search giant with data it then uses for targeting ads. Additionally, the DOJ said that Google be prevented from entering into exclusionary agreements with third parties like Apple and Samsung. The DOJ also said that remedies should prevent Google from eliminating "emerging competitive threats through acquisitions, minority investments, or partnerships." In August, a federal judge ruled that Google holds a monopoly in the search market.

Persons: Jonathan Kanter, General Merrick Garland, Lisa O, Ken Cedeno, Sherman Organizations: Live Nation Entertainment, Monaco, Department of Justice, REUTERS, Department, Justice, Google, Chrome, DOJ, Apple, Samsung, Microsoft, Android Locations: Washington , U.S

☆ Microsoft, Apple are the most under-owned megacap tech stocks, poised for a rebound, Morgan Stanley says
▼ + stars: | 2024-11-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Microsoft emerged as the most under-owned megacap stock among institutional investors, signaling a rebound could be on the horizon, according to Morgan Stanley. Morgan Stanley thinks that stocks tend to experience a technical pull higher when active ownership is much lower than their weightings in the S & P 500, and vice versa. The gap between Microsoft's S & P 500 weighting and institutional ownership stood at 2.08% by the end of the third quarter, making it the most under-owned Big Tech name, Morgan Stanley said. After Microsoft, Apple is the second-most under-owned megacap tech stock coming out of the third quarter. On the flip side, the most over-owned tech stock at the end of September is software company Intuit , which could see a technical downward pull soon, according to Morgan Stanley.

Persons: Morgan Stanley, Donald Trump Organizations: Microsoft, Big Tech, Apple, Intuit, Adobe

☆ NVIDIA's earnings report sparks massive market anticipation, with analysts focusing on AI growth and 2025's potential.
▼ + stars: | 2024-11-20 | 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 EmailNVIDIA's earnings report sparks massive market anticipation, with analysts focusing on AI growth and 2025's potential. Beth Kindig, Tech Analyst at I/O Fund, and Gunjan Banerji, Lead Writer at The Wall Street Journal, discuss NVIDIA's strong growth, its impact on AI, and its potential to move the broader market.

Persons: Beth Kindig, Gunjan Organizations: Tech, Wall Street

☆ Risk that Nvidia's 'over-earning' will come to an end over next few quarters, says strategist
▼ + stars: | 2024-11-20 | 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 EmailRisk that Nvidia's 'over-earning' will come to an end over next few quarters, says strategistWilliam de Gale, lead portfolio manager BBGT & Islamic BBGT Funds at BlueBox Asset Management, discusses Nvidia and the global tech and AI investment space from the Sohn Investment Conference in London.

Persons: William de Gale Organizations: BBGT, Islamic, Asset Management, Nvidia, Sohn Investment Locations: London

☆ Goldman Sachs' top tech bankers size up the industry's dealmaking landscape
▼ + stars: | 2024-11-20 | 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 EmailGoldman Sachs' top tech bankers size up the industry's dealmaking landscapeGoldman Sachs' Global Head of Internet Investment Banking, Jane Dunlevie, and Global Co-Head of Software Investment Banking, Ryan Nolan, join CNBC's Leslie Picker from the firm's Private Innovative Company Conference which convenes prominent pre-IPO companies in Las Vegas. Dunlevie and Nolan weigh in on how AI is changing dealmaking strategy and explain why they expect to see a more vibrant tech capital markets environment in 2025.

Persons: Goldman Sachs, Jane Dunlevie, Ryan Nolan, CNBC's Leslie Picker, Dunlevie, Nolan Organizations: Internet Investment Banking, Global, Software Investment Banking, Innovative Company Locations: Las Vegas

☆ Jim Cramer wants to buy this falling tech stock — and touts another reason to like Disney
▼ + stars: | 2024-11-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer reiterated his belief that the big-picture rollout of Blackwell is fine. Jim Cramer said he sees "a great opportunity" to buy Crowdstrike as shares fall nearly 2% Wednesday. 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 .

Persons: Jim Cramer, Stocks, Jim, we're, Jim Cramer's Organizations: CNBC, Nasdaq, Nvidia, Blackwell, Target, Costco, Walmart, Club, Palo Alto Networks, Disney, Williams, JPMorgan, Delta Air Lines Locations: Sonoma

☆ Palmer Luckey says his Facebook firing changed the way he does business
▼ + stars: | 2024-11-20 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

AdvertisementPalmer Luckey said his firing from Facebook changed his approach to business relationships. He went on to found Anduril Industries, a $14 billion defense startup. Oculus founder Palmer Luckey said his frosty departure from Facebook years ago changed the way he approaches business deals. Luckey went on to become the founder and face of Anduril Industries, a tech defense startup reportedly worth $14 billion, but he told Fortune that the dramatic firing changed how he approaches business. Now, as his defense company supplies weapons for the Russia-Ukraine war, he said he's working on his reputation in the business world.

Persons: Palmer Luckey, Luckey, Donald Trump, he'd, Fortune, Gabrielle Wesley, America It's, Forbes, Trump, John Carmack Organizations: Facebook, Industries, Anduril Industries, Mars, America Locations: Mars Wrigley, Russia, Ukraine

☆ CNBC TechCheck Evening Edition: November 20, 2024
▼ + stars: | 2024-11-20 | 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 EmailCNBC TechCheck Evening Edition: November 20, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.

Persons: TechCheck Organizations: CNBC Locations: San Francisco

☆ A tech founder who lives an hour away from his wife and daughter shares how he overcomes the guilt of not being home
▼ + stars: | 2024-11-20 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

AdvertisementAlex Li lives in Dover, Delaware, which is 55 miles from where his wife and daughter reside. Spending time away from his family so that he could work on his startup has led to guilt and regret. As a 34-year-old founder, husband, and dad, Alex Li is away from his family more than he'd like to be. AdvertisementIf his wife needs a break, Li's daughter stays with him in Dover while his wife takes a vacation. "My daughter was incredibly excited since it had been years since we traveled together as a family," Li recalled.

Persons: Alex Li, Li, Li's, he'd, he's, He's, he'll, Jane Zhang Organizations: Universal Studios Singapore, Universal Locations: Dover , Delaware, Wilmington , Delaware, Dover, Wilmington, Spain

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