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☆ Inflation rate at 2.4% in September, topping expectations; jobless claims highest since August 2023
▼ + stars: | 2024-10-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Both readings were 0.1 percentage point above the Dow Jones consensus. The annual inflation rate was 0.1 percentage point lower than August. Excluding food and energy, core prices increased 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast. After a half percentage point reduction in September, the central bank is expected to continue cutting, though the pace and degree remain in question.

Persons: Justin Sullivan, Dow Jones Organizations: Labor Department, Dow, of Labor Statistics, Federal Reserve Locations: Greenbrae , California, U.S

☆ Big backer of Nvidia heaps on praise after the recent stock rally. Where we stand now
▼ + stars: | 2024-10-10 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

Morgan Stanley has a buy-equivalent rating on the Club stock and a price target of $150 a share, implying 13% upside from Wednesday's close. If artificial intelligence models are tasked with completing more complicated tasks, that could play into Nvidia's hands over time, Morgan Stanley reasoned. Several positive updates on AI adoption last month helped Nvidia's stock mount the comeback, which has completely erased a severe post-earnings slide that began Aug. 28 . More recently, Nvidia CEO Jensen Huang has touted "insane" demand for Blackwell . Nvidia CEO Jensen Huang talks onstage with Salesforce CEO Marc Benioff during Salesforce's Dreamforce on September 17, 2024 in San Francisco, California.

Persons: Morgan Stanley's, Jensen Huang, Morgan Stanley, Nvidia's, Morgan, Jim Cramer, Jim Cramer's, Jim, Marc Benioff, Salesforce's Dreamforce, Justin Sullivan Organizations: Nvidia, Club, Blackwell, Tech, Microsoft, Nasdaq, Google, Apple, Devices, Broadcom, CNBC, Getty Locations: —, San Francisco , California

☆ 10 scandals Melania Trump addresses in her new memoir
▼ + stars: | 2024-10-08 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Melania Trump said that her chief of staff "failed" to inform her about the violent insurrection on January 6. Stephanie Grisham showed her text exchange with Melania Trump from January 6, 2021, at the Democratic National Convention. In 2022, Stephanie Grisham, Melania Trump's former press secretary, shared a screenshot of the alleged text exchange. Grisham texted Melania Trump according to the screenshot. In response to Melania Trump's claims in the memoir, Grisham told The Hill that turning on her is "the Trump formula."

Persons: Melania Trump, Stephanie Grisham, Justin Sullivan, Melania, Grisham, Melania Trump's, Trump Organizations: Democratic National Convention, Capitol

☆ Wall Street is getting tired of Corona brewer Constellation, but Jim Cramer says to hold on
▼ + stars: | 2024-10-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Jim Cramer is planning to stay in the game with Constellation Brands , despite a Wall Street firm moving to the sidelines on the Mexican beer importer. Shares of New York-based Constellation Brands fell 1.5% Monday, off their lows of the session. In the June-to-August period reported Thursday, beer sales rose 6%, compared with increases of 8%, 11% and 11.8% in its three prior quarters. In explaining why we're sticking with Constellation, Jim said Monday he liked what he heard from Constellation Brands CEO Bill Newlands during the executive's appearance Friday on "Mad Money." This uptick coincided with increased marketing spending behind its top beer brands, Newlands said.

Persons: Jim Cramer, Jim, there's, Bill Newlands, Newlands, —, Kim Crawford, Meiomi, Duckhorn, Morgan Stanley, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Bank of America, Modelo, Corona, Constellation, CNBC Locations: York, Mexico, Corona, San Anselmo , California

☆ Yellow jackets in Helene aftermath and prosecutor reviews Menendez brothers' conviction: Morning Rundown
▼ + stars: | 2024-10-04 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

And Kim Kardashian advocates for the release of the Menendez brothers. Chris Kofinis, a Democratic strategist, said Harris’ campaign is banking on Trump’s weaknesses being enough to carry Harris to victory. as the Harris campaign works to engage a group of voters threatening to defect over the Biden administration’s handling of the situation in the Middle East. People who are allergic to bees are usually allergic to yellow jackets as well, though the scale of the reaction may differ. Meanwhile, prosecutors in California said they are reviewing the Menendez brothers’ convictions to determine whether they should be resentenced and potentially released.

Persons: Kamala Harris, Kim Kardashian, Menendez, ‘, Harris, Justin Sullivan, Donald Trump, Harris ’, she’s, “, ”, Steve Shurtleff, Chris Kofinis, ” Harris, Tim Walz, Trump, Walz, Barack Obama, Hezbollah’s, Hezbollah's, Hashem Safieddine, Ayatollah Ali Khamenei, Hassan Nasrallah, Chris Hayes, L.A, Lyle, Erik, ” Kardashian, Erik Menendez, Netflix’s, Read, George Gascón, Jack Smith’s, Smith, Jeff Greenberg, Helene, Alexandra Byrne, — Rich Bellis, Elizabeth Robinson Organizations: Cochise College Douglas Campus, Democratic, New, CBS, Minnesota Gov, Gov, Biden, East, NBC News, IDF, North Carolina State University, NBC, Netflix, Arts, Universal, Getty, River Arts Locations: North Carolina, Douglas , Arizona, New Hampshire, Butler , Pennsylvania, Pittsburgh, Beirut, Israel, Lebanon, Syria, Iran, Carolina, Hurricane, Beverly Hills , California, California, Colorado, “, Asheville, N.C

☆ Adam Neumann's new startup is reworking WeWork's old business model
▼ + stars: | 2024-10-03 | by ( Grace Eliza Goodwin | Geoff Weiss | ) www.businessinsider.com time to read: +6 min

Workflow has a different business strategy than Neumann's previous company, Bloomberg reports. Neumann told the outlet that investors at Andreessen Horowitz will help keep him disciplined. Ben Bergman/BI"The lack of community and the disconnection that people feel is even more relevant today" than in the days of WeWork, Neumann told Bloomberg of Workflow. Neumann says he's learned his lessonCritics didn't just zero in on WeWork's business model but also on Neumann's management. We're really not sure that we know the answer, therefore we're taking our time," Neumann told Bloomberg.

Persons: Adam Neumann, Neumann, Andreessen Horowitz, —, WeWork, he's, WeWork's, Insider's Ben Bergman, Ben Bergman, Justin Sullivan, Ben Horowitz, Marc Andreessen, Andreessen, Noam Galai, TechCrunch Neumann, We're Organizations: Bloomberg, Service, Fort, Business, Flow, TechCrunch Locations: Fort Lauderdale, Miami, Atlanta, Nashville, Riyadh, Saudi Arabia, WeWork's

☆ Modelo brewer Constellation falls despite an earnings beat. Here's why we're not concerned
▼ + stars: | 2024-10-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Modelo and Corona brewer Constellation Brands is a tale of two businesses. Constellation Brands Why we own it : Constellation Brands' beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico, is the growth engine and by far the most attractive part of the business. And, the profitability of its beer business — operating margins were an impressive 42.6% in the quarter — puts Constellation in a position of strength. Still, raising an anchor is always welcome news, and talk of its booming beer business would, at last, no longer need the wine-and-spirits caveat. Looking ahead, its beer business should continue grabbing market share and its hard to imagine the wine-and-spirits unit getting much worse.

Persons: Bill Newlands, Thursday's, Newlands, Kim Crawford, There's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Corona, Constellation Brands, LSEG, Modelo, Anheuser, Busch Inbev, Molson Coors, Investors, Constellation, National Football League, Bloomberg, Brier, Modelo Especial, CNBC Locations: Corona, Pacifico, Wednesday's, U.S, Campo, West Coast, San Rafael , California

☆ Levi Strauss trims guidance as it weighs sale of Dockers business
▼ + stars: | 2024-10-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Excluding one-time items, Levi's posted earnings of $132 million, or 33 cents per share. "We believe the exit of Dockers will allow both Dockers and Levi's to independently operate and maximize each other's value independently." Direct gainsBeyond Docker's, Levi's is making gains in growing its profitability as it continues to shift its focus to selling directly to consumers. During the quarter, Levi's direct channel was up about 10%, driven by strength in the U.S. and 16% growth in e-commerce. Overall, direct sales comprised 44% of total revenue and Levi's wants to get that number closer to 55%.

Persons: LEVI, Justin Sullivan, Levi Strauss, Levi's, Levi, khakis, …, Harmit Singh, Singh, Beyoncé, Michelle Gass Organizations: Dockers, LSEG, CNBC, of America Locations: U.S

☆ Tonight's vice presidential debate matters a lot more this time around
▼ + stars: | 2024-10-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what you need to know about tonight's vice presidential debate , and why it's worth paying attention to. The big storyUp for debateDrew Hallowell/Getty Images; Andrew Harnik/Getty Images; Brandon Bell/Getty Images; Rebecca Zisser/BIOhio Sen. JD Vance and Minnesota Gov. ET for an uncharacteristically important vice presidential debate , write Business Insider's Brent D. Griffiths and John L. Dorman. Thanks to a hot streak at Miu Miu, Prada has done what few luxury retailers have been able to do this year: grow. In short, it doesn't get trendier than Miu Miu — and trendy is good for business.

Persons: —, Drew Hallowell, Andrew Harnik, Brandon Bell, Rebecca Zisser, JD Vance, Tim Walz, Insider's Brent D, Griffiths, John L, Dorman, Donald Trump, Kamala Harris aren't, Vance, Walz, hasn't, Brent, Trump's, There's, Harris, Joe Biden's, Matt Stroshane, Tyler Le, Blackstone, Getty, Justin Sullivan, Nvidia's, Jensen, Mira Murati, Natalie Ammari, That's, Miu Miu, Prada, Jimmy Carter, Mark Rutte, Jens Stoltenberg, Claudia Sheinbaum, Elliott Hill, Mike Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Microsoft, Getty, Ohio Sen, Minnesota Gov, CBS, Netflix, Republican, UBS, Venture, Murati, Consulting, Nike, NYSE Locations: Minnesota, Silicon, New York, London

☆ Masayoshi Son is the $100 billion gambler who went from dirt track to tech titan — and he isn't done betting yet
▼ + stars: | 2024-09-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +14 min

SoftBank founder Masayoshi Son has spent his life putting bold bets on the future of technology. SoftBank, the media-technology conglomerate Son founded two decades prior, was riding high on the glory it attained in the dot-com boom. He was told he was special," Barber told BI. "He wants to be seen as the great modernizer transforming this petrostate into a truly modern economy where technology is at the forefront," Barber told BI. But as previous cycles in Son's life dictate, the flurry of enthusiasm is typically followed by failure.

Persons: Masayoshi Son, Lionel Barber, —, Son, Bill Gates, Masa —, Uber, Barber, Vladimir Putin, Barack Obama, — he's, Jack Ma's Alibaba, Wang, he's, Napoleon Bonaparte, Genghis Khan, Qin Shi Huang, Emperor of, Microsoft's Gates, Jordan Strauss, Mitsunori, SoftBank, Rupert Murdoch, Larry Ellison, Jack Welch, Steve Jobs, Masayoshi, Justin Sullivan, Rajeev Misra, Nikesh Arora, Phil McCarten, Abu Dhabi's Mubadala, Mohammed bin Salman, Saudi, Michael Moritz, Kim Jong, Adam Neumann, Donald Trump, Wirecard, Jesus, NurPhoto, He's, Allen Lane Organizations: Service, Financial Times, Kremlin, Yahoo, Popular Electronics, Vision, Deutsche Bank, Google, Reuters, Saudi Arabia's Public Investment Fund, Vision Fund, Valley's, Sequoia Capital, Greensill, Nvidia, Signal Publishers Locations: Tokyo's Roppongi, Japan, Masayoshi, Washington, Wayne, Emperor of China, Kyushu, United States, Riyadh, Berkeley, Las Vegas

☆ Domino's Pizza is not growing as much as it claims, investor says in new lawsuit
▼ + stars: | 2024-09-26 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Read previewAn investor has filed a class action lawsuit against Domino's Pizza, claiming the restaurant chain "overstated" its business and financial prospects. AdvertisementSpecifically, the company's annual global net store growth. The complaint says Domino's hosted its 2023 Investor Day that December, during which it discussed the long-term guidance for the annual global net store growth between 2024 and 2028. The class action lawsuit against Domino's Pizza Inc. is about its annual global net store growth. Despite investor concerns over its global net store growth, revenues at Domino's has grown.

Persons: —, Pizza, Bernstein Lierbhard, Russel J, Weiner, Sandeep Reddy, Justin Sullivan, Domino's, Matt Cardy, Stringer Organizations: Service, Pizza Enterprises, Business, Domino's, BI, Domino's Pizza Enterprises, Domino's Pizza, U.S, Company Locations: Michigan, Domino's

☆ We're upping our price target on Costco after another steady quarter fortifies our thesis
▼ + stars: | 2024-09-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

The report didn't blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion, missing analysts' expectations of $79.97 billion, according to estimates compiled by LSEG. Costco has succeeded for decades, but the high inflation of recent years has made the company's value-focused ethos really shine. Put it all together, we're increasing our price target on the stock to $950 a share from $875. In the quarter, Costco's membership renewal rate in the U.S. and Canada came in at 92.9%, a tick lower than the 93% rate observed in the third fiscal quarter, while worldwide held constant at 90.5%.

Persons: Gary Millerchip, Ron Vachris, Millerchip, it's, Kirkland, Costco's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Costco, LSEG, Wholesale, Walmart, Club, Amazon, Costco's, Kirkland, Kirkland Signature, Management, U.S, CNBC Locations: Costco's, Yemen, U.S, Canada, Maine, Richmond , California

☆ Salesforce may finally have found its AI footing. What it means beyond the initial hype
▼ + stars: | 2024-09-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Bowing to investor pressure, Salesforce has adopted a more disciplined approach to dealmaking, increasing the importance of internal product development. "Agentforce is the product announcement [Salesforce] investors have sought for years," Needham analysts wrote in a recent note to clients. Salesforce stock remains down about 13% from its 2024 peak close and record high of $316.88 a share on March 1. CRM 1Y mountain Salesforce's stock over the past 12 months. Analysts said Salesforce is cheap compared to peers on multiple valuation metrics with ample room to increase free cash flow ahead.

Persons: Salesforce, Jim Cramer, Agentforce, Mulesoft, Needham, Einstein, —, Jim, Bofa, Baird, Piper Sandler, Piper, Jim Cramer's, Marc Benioff, Salesforce's Dreamforce, Justin Sullivan Organizations: Wall Street, Nasdaq, Barclays, Saks, Investors, Bank of America, CNBC, Getty Locations: Dreamforce, San Francisco, San Francisco , California

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Why investors should dismiss Wall Street concerns about demand for Apple's new iPhone 16
▼ + stars: | 2024-09-19 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

The leader of one of the largest U.S. carriers said there have been more iPhone 16 sales in the first week of preordering compared to the same period last year for the iPhone 15. The iPhone 16 was announced on Sept. 9 , when the company held this year's fall new product event. So, they're buying up the food chain, and they're buying at a greater rate," Sievert said, dismissing any softer iPhone 16 sales data as "nonsense." This is important because mobile carriers — including Verizon and AT & T — are the single-largest iPhone sales channel for Apple. Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California.

Persons: Jim Cramer, Mike Sievert, Sievert, Morgan Stanley, That's, Jim, Sievert —, Wednesday's, — Morgan Stanley, Chi Kuo, Kuo, Jim Cramer's, Tim Cook, Justin Sullivan Organizations: Apple, Wall Street, Mobile, U.S, Verizon, AT, JPMorgan, Barclays, Bank of America, TF Securities, Apple Intelligence, CNBC Locations: U.S, Cupertino , California

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ Many Haitians in Springfield are on Temporary Protected Status — which could disappear if Trump wins
▼ + stars: | 2024-09-17 | by ( Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +6 min

Read previewAround 200,000 Haitians living in the US are on Temporary Protected Status, including many of those living in Springfield, Ohio, who have been targeted by former President Donald Trump and others with baseless claims about eating pets. Trump has already called for mass deportations from the town, saying last week: "We're going to start with Springfield and Aurora." "Once a country is designated, each individual covered by the designation must apply separately for TPS status," she said, noting that existing TPS holders must also renew their paperwork with each redesignation. However, if Trump wins, Leblang told BI this is far less likely. Indeed, it already was once before when Trump sought to end TPS for certain countries during his last administration.

Persons: —, Donald Trump, Trump, Nancy Morawetz, Alejandro Mayorkas, Tom K, Wong, Harris, David Leblang, Leblang, Justin Sullivan, Lori A, Nessel, Biden, Julia Gelatt, Gelatt Organizations: Service, Trump, TPS, Haiti, Business, Biden, NYU, BI, Homeland, US Immigration Policy Center, University of Virginia, Seton Hall University School of Law, Department of Homeland Security, US Locations: Springfield , Ohio, Haitian, Springfield, Aurora, Haiti, Honduras, Nicaragua, El Salvador, Sudan, Canada

☆ Meet the Enigmatic Man Who Oversees Larry Page's Google Fortune
▼ + stars: | 2024-09-16 | by ( Hugh Langley | ) www.businessinsider.com time to read: +22 min

His success has also helped fuel a boom in family offices, a financial structure pioneered by J.P. Morgan and popularized by the Rockefellers. Today there are thousands of family offices globally, with the total number tripling between 2019 and 2023, according to the data provider Preqin. To protect Page, Osborne has long remained hidden, the man behind the megabillionaire's curtain. AdvertisementThe small staff at Koop, Page's family office in Palo Alto, are fiercely committed to Page's privacy. Through his investment in Way2B1, Page is seeking to make money by monetizing the techniques he uses to make money.

Persons: Thomas, Larry Page, Wayne Osborne, Osborne, Koop, —, Wayne, Jeffrey Epstein, Gmail, Page, he's, Larry, Morgan, Morgan Stanley, hasn't, Justin Sullivan, hawking, Sergey Brin, George Pavlov, Mark Zuckerberg, Jeff Bezos, Melinda Lewison, Natasha Pearl, Aston Pearl, James Estrin, Helen Frankenthaler, Minerva, Joseph E, Brooks, Taylor, Mortimer Zuckerman, Zuckerman, he'd, who'd, Koop's, Ken Goldman, Eric Schmidt, Hugh Langley, Michael Floyd, Floyd, Page's, Lucy Southworth, Southworth, It's, Way2B1, it's, Gilles Martin, Hal Bailey Organizations: QS, Osborne, J.P, Google, Harvard Business School, Princeton Theological Seminary, Presbyterian Church, New York Times, Minerva, U.S . News, Boston Properties, Shell, CIA, Energy Technologies, Oceankind, Forbes, Business, Fiji Locations: New York, Caribbean, St, Palo Alto , California, Wayne, Mississippi, Connecticut, Silicon Valley, U.S, Silicon, Palo Alto, Koop, Nola, margarita, Way2B1, Fijian, superyachts, New Zealand, Fiji

☆ Inside Amazon's new AI sales machine: More pressure, more pay, more speed
▼ + stars: | 2024-09-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

AdvertisementThese AWS staffers were asked to find at least one sales opportunity each month for Q, Amazon's AI assistant, and Bedrock, the company's AI platform. AdvertisementMany AWS sales teams have new performance targets tied to AI products. AdvertisementHitting these goals is important for Amazon employees because that can result in higher performance ratings, a key factor in getting a raise or promotion. The "Find One, Launch One, Ramp One" initiative includes AWS sales architects. More pressure but also more rewardsAmazon is also doling out bonuses and other forms of potentially higher pay for AI sales success.

Persons: —, Matt Garman, salespeople, AWS's, Garman, Microsoft Satya Nadella, Justin Sullivan, Q, hasn't Organizations: Service, North, Business, AWS, Messaging, Amazon, Microsoft, Google, BI, there's, Amazon Connect Locations: North America

☆ How I'm approaching the stock market after its wild reversal to start September
▼ + stars: | 2024-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The week before, Broadcom had allegedly disappointed, causing Nvidia , the inevitable key to this market, to continue its descent. Which brings me back to the initial concept of the big declining week followed by the big advancing week. A good week for Kamala Harris turns out to be a big week for Nextracker — and that's really it for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Larry Ellison, Ellison, Cerner, Ellison's, Eaton, Jensen, Bing, Microsoft's Bing, underinvesting, Huang, Blackwell, Dupont, Kamala Harris, Nextracker, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nasdaq, Federal, Broadcom, Nvidia, Oracle, Marvell, Meta, Microsoft, Google, mightily, Street, Fed, Dreamforce, downer, Adobe, JPMorgan, Healthcare, pharma, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, San Francisco

☆ OpenAI is showing that the AI race is survival of the richest
▼ + stars: | 2024-09-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

It's also a sign of just how expensive the business of training and running AI models is getting. AdvertisementGenerative AI is a cash-guzzlerStartups like OpenAI need to raise huge amounts of capital to build smarter AI models. Just look at the spending of Big Tech firms working to improve their AI models. Consolidation has struck the AI industry in recent months, as some top startups trying to build AI models have been gutted. AI startups serious about progressing on LLMs will need to figure out the answer to this pretty quickly.

Persons: —, Elon, Sam Altman, ChatGPT, It's, Justin Sullivan, OpenAI, Dario Amodei, Anthropic, Pretty, Amodei's Anthropic, Dario Amodei's Anthropic, Noam Shazeer —, Ben Bergman, Sri Muppidi, it's, Elad Gil, Gil Organizations: Service, Bloomberg, Business, SpaceX, Getty, Microsoft, Big Tech, Street, Nvidia, Apple, Amazon, Samsung, Google Locations: OpenAI, aren't

☆ Mortgage rates hit lowest level since February 2023
▼ + stars: | 2024-09-11 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest level in 20 years. (Photo by Justin Sullivan/Getty Images)Mortgage rates fell for the sixth straight week last week, but mortgage demand still seems to be waiting for something bigger. That is the lowest level since February 2023 and nearly a full percentage point lower than the same week one year ago. Total mortgage demand, however, rose just 1.4% for the week, according to the MBA's seasonally adjusted index. Mortgage rates continued to move lower to start this week, according to a separate survey by Mortgage News Daily, but the monthly release of the Consumer Price Index, a measure of inflation, on Wednesday could impact the direction of rates more sharply in either direction.

Persons: Justin Sullivan, Joel Kan, Kan, Matthew Graham Organizations: National Association of Realtors, Mortgage, Association, Treasury, Federal Reserve, Labor, Mortgage News Locations: CALIFORNIA, Larkspur , California

☆ CNBC Daily Open: Did Apple’s shiny new things uplift markets?
▼ + stars: | 2024-09-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Justin Sullivan | Getty Images News | Getty ImagesThis 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. What you need to know todayThe bottom lineMaybe all it takes are shiny new things to lift our mood and take our minds off recession fears. Of course, Apple's event is not the sole reason markets rose yesterday. They'll also let us know if we can afford those shiny new things that Apple's dangling in front of us.

Persons: Pro Max, Justin Sullivan, I'm, Zers, CNBC's Kelly Evans, They'll, – CNBC's Pia Singh, Lisa Kailai Han Organizations: Pro, Apple, Getty, CNBC, Research, Bloomberg, Nvidia, Nasdaq, Dow Jones Industrial Locations: Cupertino , California, U.S, Cupertino

☆ Apple relies on carriers to drive iPhone sales. What to expect this upgrade cycle
▼ + stars: | 2024-09-10 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Among the offers at AT & T for new and existing customers: a free iPhone 16 or up to $830 off the iPhone 16 Plus if they meet a few eligibility requirements. Apple's list price for the Phone 16 and iPhone 16 Plus start at $799 and $899, respectively. Now consider that despite inflation, Apple left the prices of iPhone 16 models the same as the prior generation while adding AI capabilities and improved battery life, among others. "All of these things will be incremental, just enough to eventually convince millions" to upgrade their devices, Jim said. Apple CEO Tim Cook delivers remarks before the start of an Apple event at Apple headquarters on September 09, 2024 in Cupertino, California.

Persons: –, Max, Jim Cramer, Tim Cook, Cook, Bernstein, John Stankey, Stankey, aren't, Jim, Jeff Marks, Jim Cramer's, Justin Sullivan Organizations: Verizon, Mobile, Apple, Consumer Intelligence Research Partners, UBS, CNBC, Club, Markets, Apple Intelligence, Barclays Locations: U.S, China, Europe, Cupertino , California

☆ Harris braces for the most critical moment of her political career at debate with Trump
▼ + stars: | 2024-09-10 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Kamala Harris’ joyful campaign will Tuesday be hit by the blunt force of reality — a debate with Donald Trump — the most menacing political foe of modern times. The vice president transformed the 2024 election after President Joe Biden’s abject debate showing against Trump on CNN in June led him to end his reelection bid. Haris will be ‘fully prepared’But to succeed in the debate, the vice president faces three difficult tasks. The conceit, however, allowed the Trump campaign to argue she’d return to her original stance if she won power. “I believe the vice president will be fully prepared to do that.”

Persons: CNN — Kamala Harris, Donald Trump, Joe Biden’s, Harris, Mike Pence, Trump, ” Harris, Hillary Clinton, Biden, Joe Biden, Kamala Harris, Brendan Smialowski, “, ”, who’s, Justin Sullivan, Haris, Obama, Rickey Smiley, ” — Harris, parry, Dana Bash, she’d, Vincent Alban, “ I’m, he’s, Anita Dunn, ” Dunn, CNN’s Erin Burnett Organizations: CNN, Trump, Democratic, South, Prince George's Community College, New York Times, Siena, Republican, University of Las Vegas Thomas, Mack Center, Bidenomics Locations: Philadelphia, Largo , Maryland, AFP, Las Vegas, Trump’s, Trump, Pennsylvania, La Crosse , Wisconsin

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