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☆ CNBC Daily Open: Treasury bets
▼ + stars: | 2023-08-08 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks reboundAsia-Pacific markets were tepid on Tuesday, and didn't track a rebound on U.S. indexes overnight. Wall Street analysts say though, Berkshire Hathaway shares are still cheap even at these record levels. Tesla's chief accounting officer, Vaibhav Taneja, is its new CFO and will hold both roles concurrently.

Persons: Berkshire Hathaway, Elon, Tesla, Zach Kirkhorn, Vaibhav, Goldman Sachs Organizations: CNBC, Dow Jones, Nasdaq, CSI, Oracle, Omaha Berkshire Hathaway, Wall Street, Berkshire Locations: Manhattan, New York, U.S, Asia, Pacific, China, Omaha

☆ CNBC Daily Open: Playing the T-bill game
▼ + stars: | 2023-08-08 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street analysts say though, Berkshire Hathaway shares are still cheap even at these record levels. The "service-generated data" includes customer information on product usage, telemetry and diagnostic data as well as similar content or data collected by the company. Hot, hotter, hottest oceansIt's officially no longer just climate warming — it's climate boiling.

Persons: Berkshire Hathaway, Elon, Tesla, Zach Kirkhorn, Vaibhav, Goldman Sachs Organizations: CNBC, Dow Jones, Nasdaq, Dow, Oracle, Omaha Berkshire Hathaway, Wall Street, Berkshire Locations: Manhattan, New York, U.S, Omaha

☆ Elon Musk's touted successor left Tesla after a 13-year stint under the billionaire, which 'is like working 50 years for anyone else,' analyst says
▼ + stars: | 2023-08-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Zachary Kirkhorn worked 13 years under Elon Musk until he confirmed Monday that he's leaving Tesla. That number of years working for Musk is like "working 50 years for anyone else," Gene Munster said. Kirkhorn did not say why he's leaving Tesla, but called his time there a "special experience." "He's done a 13-year tour of duty working for Elon, which is like working 50 years for anyone else," Munster told Bloomberg. In his announcement on LinkedIn, Kirkhorn didn't say why he left Tesla, but thanked Musk and called his time at Tesla a "special experience."

Persons: Zachary Kirkhorn, Elon Musk, Gene Munster, Kirkhorn, Elon, Munster, Tesla, Zach, Musk, Dolly Singh Organizations: Elon, Tesla, Elon Musk's, Bloomberg, Munster, Deepwater Asset Management, SEC, LinkedIn, Twitter, Wired, SpaceX Locations: Minnesota, Munster, Tesla

A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. The Elon Musk-led firm did not specify a reason for the departure of Kirkhorn, who has been with Tesla for 13 years. He will remain with the company through the end of the year to aid a smooth transition. Taneja, 45, joined Tesla after the automaker acquired SolarCity in 2016. Musk currently leads SpaceX, Neuralink, the Boring Company and is chief technology officer at social media platform X, formerly known as Twitter.

Persons: Thomas Peter, Zachary Kirkhorn, Taneja, Elon, Kirkhorn, Tesla, Deepak Ahuja's, Musk, Elon Musk, Gene Munster, Akash Sriram, Savio D'Souza, Arun Koyyur Organizations: REUTERS, LinkedIn, Elon, Deepwater Asset Management, Wall Street Journal, SpaceX, Neuralink, Boring Company, Twitter, Thomson Locations: Beijing, China, Austin , Texas, Bengaluru

Tesla 's chief financial officer, Zach Kirkhorn, stepped down from his position effective Friday, the automaker announced Monday morning in a regulatory filing. Tesla's chief accounting officer Vaibhav Taneja was appointed as the new CFO and will hold both roles concurrently. Kirkhorn will stay on with Tesla through the end of the year to assist in the transition, according to a Securities and Exchange Commission filing. Kirkhorn had served as CFO since March 2019 and had worked for Tesla since 2010. Kirkhorn's departure marks the second CFO replacement at Tesla in just over four years.

Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Kirkhorn, Deepak Ahuja, Vaibhav, Taneja Organizations: Tesla, Securities and Exchange Commission, LinkedIn, SolarCity

☆ Tesla's CFO and 'Master of Coin' Zachary Kirkhorn is leaving the company
▼ + stars: | 2023-08-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla’s “Master of Coin” and Chief Financial Officer Zachary Kirkhorn has stepped down after four years and six months in the role. Kirkhorn joined Tesla 13 years ago as a senior finance analyst, according to his LinkedIn profile, rising to CFO in 2019. Vaibhav Taneja, most recently Tesla’s chief accounting officer, will take over the job of CFO. It is unclear if Taneja will be taking over the “Master of Coin” position, as well, or if the title will be retired. Tesla's Chief Financial Officer, Zach Kirkhorn, who also held the title Master of Coin, speaks during Tesla's 2023 Investor Day on March 1.

Persons: Zachary Kirkhorn, Kirkhorn, Tesla, Coin, Elon Musk’s, Vaibhav, Zach Kirkhorn, YouTube Taneja, Elon Musk Organizations: New, New York CNN, Tesla, YouTube, Elon, SEC Locations: New York, bitcoin, Solar

☆ Stocks making the biggest moves midday: Tesla, Berkshire Hathaway, PayPal, Cinemark and more
▼ + stars: | 2023-08-07 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The company earned €168 million in revenue, while analysts polled by Refinitiv expected €672 million. The company reported adjusted net income and revenue that beat expectations for the second quarter. Viatris reported revenue of $3.92 billion, while analysts polled by StreetAccount called for $3.86 billion. PayPal – PayPal stock climbed 2% after launching its first stablecoin, PayPal USD, backed by the U.S. dollar on Monday. Analysts polled by FactSet are forecasting an adjusted 5 cents per share on $534.2 million in sales.

Persons: Tesla, Zach Kirkhorn, Vaibhav Taneja, Taneja, BioNTech, Refinitiv, Tyson, Berkshire Hathaway, Warren, StreetAccount, Andrew Mok, Sovos, Campbell, Sovos Brands, Campbell Soup, Morgan Stanley, Benjamin Swinburne, Oppenheimer, Yun Li, Alex Harring, Samantha Subin Organizations: Refinitiv, Berkshire, Warren, UBS, Sovos, PayPal, U.S, FactSet Locations: Gruenheide, Germany, BioNTech –, stablecoins, U.S

☆ The Tesla executive who was rumored to be next in line for CEO is leaving the company
▼ + stars: | 2023-08-07 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla's CFO Zachary Kirkhorn is leaving the carmaker, the company said in a regulatory filing. Zachary Kirkhorn, Tesla's chief financial officer, is leaving the electric-car company after working for the electric-car maker for about 13 years. Tesla staff told the Journal that Kirkhorn won Musk's approval by leading with "bad news" and staying in the billionaire's shadow. Kirkhorn worked as an analyst at McKinsey & Company before joining Tesla and previously interned at Microsoft, his profile says. Kirkhorn, Musk, and a spokesperson for Tesla did not respond to a request for comment ahead of publication.

Persons: Zachary Kirkhorn, Elon, Kirkhorn, Vaibhav Taneja, Tesla, Kirhorn, Elon Musk, James Murdoch, Musk, Tim Cook, Steve Jobs, Jobs, Cook, Deepak Ahuja, Afshar Organizations: Street, Elon Musk's, Tesla, EV, Securities and Exchange Commission, LinkedIn, Street Journal, Musk's, Apple, McKinsey & Company, Microsoft, SpaceX

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. U.S. stocks have sharply rallied in 2023, with the benchmark S&P 500 (.SPX) clocking 17% gains year to date, fueled by optimism around artificial intelligence and hopes of a soft landing for the world's largest economy. "But in the service side, it's been pretty sticky and that's one reason why it's taking a lot longer for inflation to subside." Reuters GraphicsOverall, second-quarter earnings have been better-than-expected so far, with 79.1% of the 422 S&P 500 companies that have reported as of Friday beating analysts' estimates, according to Refinitiv data. The S&P index recorded 17 new 52-week highs and seven new lows, while the Nasdaq recorded 46 new highs and 128 new lows.

Persons: Brendan McDermid, Dow, Charlie Ripley, it's, John Williams, Michelle Bowman, Vaibhav, Zachary Kirkhorn, Berkshire Hathaway, Warren Buffett, Tyson, packer, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Berkshire, Tyson, Dow, Nasdaq, Federal, CPI, Allianz Investment Management, York Fed, Dow Jones, Apple, Reuters, Sage Therapeutics, Tyson Foods, Yellow Corp, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Apple's Tim Cook calls India 'huge opportunity' after tech meeting at White House with Prime Minister Modi
▼ + stars: | 2023-06-23 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. The tech company execs spent over an hour with Prime Minister Narendra Modi inside the White House on Friday, discussing opportunities and challenges in investing in India. After the meeting concluded at the White House, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." It was the first state visit to the U.S. for Modi, who became prime minister in 2014. Following Friday's meeting, the White House said Google will be working with the Indian Institute of Science on open sourcing of speech data for artificial intelligence models.

Persons: Joe Biden, Narendra Modi, Biden, execs, Modi, Elon Musk, Tim Cook, Sam Altman, Altman, Hemant Taneja, Catalyst, Taneja, Kenneth Juster, who's Organizations: India's, Apple, Microsoft, Tesla, White, CNBC, Google, Indian Institute of Science, U.S, Micron, Applied Materials, Research, Council, Foreign Relations, Biden Locations: Washington ,, India, U.S, Washington, China, Gujarat

But all the deals and pomp of the visit — including an address to Congress and a lavish state dinner — may not have accomplished what the White House had wanted. U.S. leaders gave Modi a hearty welcome, as Washington seeks to nudge India further into the American sphere of influence. “The partnership is among the most consequential in the world,” Biden said at a news conference on Thursday. Biden and Modi largely brushed off criticism of the Indian government’s crackdown on human rights and religious freedom. And Modi made no pledges to endorse U.S. efforts to restrain China, nor to cut ties to Russia.

Persons: Modi, ” Biden, Dave Calhoun, Larry Culp, G.E, James Taiclet, Lockheed Martin, Sam Altman, OpenAI, Tim Cook, Sanjay Mehrotra, Sundar Pichai, Lisa Su, Ken Chenault, Jane Fraser, Adena Friedman, Deven Parekh, Hemant Taneja, ” Taneja, DealBook, Biden Organizations: White, General Electric, chipmakers, Micron, Materials, World Trade Organization, America, Boeing, Lockheed, Tech, Apple, Citigroup, Nasdaq, Insight Venture Partners, Catalyst, The Times, House Locations: India, China, Russia, U.S, Washington, portobello, United States

☆ See photos of tech's elite all dressed up at the White House
▼ + stars: | 2023-06-23 | by ( Grace Mayer | Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Some of the tech and business industries' top CEOs attended a White House dinner Thursday. Take a look at the CEOs and industry giants who made the guest list and dressed up in their finest. The White House invited leaders from across the tech and business industries for a dinner held for Prime Minister of India Narendra Modi's visit to Washington. The visit has been a crucial one for Biden, as the White House looks to build closer ties with India. Here's a look at the CEOs and industry giants who made the guest list and dressed up in their finest.

Persons: OpenAI, India Narendra Modi's, Biden, Mark Zuckerberg, Elon Musk, Tesla, Dana White, James Murdoch, Rupert Murdoch's, Jane Fraser, Adena Friedman, Deven Parekh, Hemant Taneja, Catalyst, Ralph Lauren, M, David Calhoun, Larry Culp, Doug McMillon Organizations: White, Apple, Google, Morning, Microsoft, White House, Meta, Twitter, UFC, Citigroup, Nasdaq, Insight Partners, Boeing, Electric, Walmart Locations: Washington, India, China, Taiwan

The Additional Chief Secretary, G. Anupama, said in a text message, "Enquiry is underway" and directed Reuters to the health minister for Haryana state, Anil Vij, for further details. Its chief minister and health minister, to whom Yashpal also sent his complaint, did not respond to requests for comment. Naresh Kumar Goyal, the founder of Maiden Pharmaceuticals, told Reuters in December his company did nothing wrong in the production of the cough syrup. The bribery allegation was one of about half a dozen claims of corruption by Yashpal against Taneja in the letter. Yashpal told Reuters he did not comply, because he did not feel comfortable bringing such details to the deputy of someone he had accused of corruption.

Persons: Sagnia, Edward McAllister, Yashpal, Manmohan Taneja, Taneja, Maiden, Yashpal –, –, Shatrujeet Kapur, Kapur, Anupama, Anil Vij, Vij, Naresh Kumar Goyal, Goyal, Narendra Modi, Taneja's, Lalit Kumar Goel, Goel, Krishna N, Jennifer Rigby, Sara Ledwith, Michele Gershberg Organizations: REUTERS, World Health Organization, WHO, Reuters, Corruption Bureau, Maiden Pharmaceuticals, pharma, Corruption, Taneja, EG, Thomson Locations: Yundum, Gambia, DELHI, Haryana, New Delhi, Vietnam, India, London

May 16 (Reuters) - Hippocratic Health, a startup building artificial intelligence models for the healthcare industry, has raised $50 million in a larger-than-usual seed funding round, signaling strong investor interest in betting on AI models for specific industries. Large language models are AI systems that mine vast amounts of data to summarize information and generate content. Also known as foundation models, large language models can perform tasks from writing essays to generating codes. Our focus is to build the safest language model for healthcare," said Shah, who previously founded insurance startup Health IQ. A16z said it is one of the largest seed checks it has written in the healthcare industry.

☆ A.I. needs radical collaboration to stop unintended consequences, says General Catalyst's Hemant Taneja
▼ + stars: | 2023-03-30 | 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 EmailA.I. needs radical collaboration to stop unintended consequences, says General Catalyst's Hemant TanejaHemant Taneja, General Catalyst CEO, joins 'Closing Bell Overtime' to discuss the need for new guard rails on A.I., the call by tech leaders for a 6-month pause on AI development, and the concerns about A.I.

☆ Some VC firms have started moving money back into Silicon Valley Bank, marking the latest turn in the bank's wild week
▼ + stars: | 2023-03-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Some VC firms have started moving their money back to Silicon Valley Bank. The bridge bank took over the deposits of the Silicon Valley Bank, a financial institution that served nearly half of all US venture-backed companies, per its website. Another group of VC firms also came out in support of Silicon Valley Bank, issuing a joint statement on Tuesday. Taneja also started a drive for VC firms to express their support for Silicon Valley Bank over the weekend. The bank run at Silicon Valley Bank triggered concerns about the financial health of smaller, regional banks in the US, spurring a crisis of confidence in the sector.

☆ New SVB CEO urges top venture capital clients to move deposits back
▼ + stars: | 2023-03-14 | by ( Krystal Hu | ) www.reuters.com time to read: +2 min

March 14 (Reuters) - Silicon Valley Bank's new Chief Executive Tim Mayopoulos on Tuesday urged the failed bank's top venture capital clients to move their deposits to its newly created bridge entity, people who attended a virtual meeting with him said. The Federal Deposit Insurance Corporation (FDIC) appointed the former Fannie Mae CEO to head Silicon Valley Bridge Bank N.A. Mayopoulos told clients deposits at the bank were now among the safest of any U.S. banks or institutions, attendees at the meeting said. Hemant Taneja, CEO of venture capital firm General Catalyst, recommended on Tuesday that its clients who had banked with SVB keep or return at least 50% of their capital to the bank. He has also served as general counsel of Bank of America, and held senior roles at Deutsche Bank, Credit Suisse First Boston, and Donaldson, Lufkin & Jenrette.

☆ 9 startup founders who banked with Silicon Valley Bank share where they're moving their money: 'We will not get caught like this again'
▼ + stars: | 2023-03-13 | by ( Samantha Stokes | Stephanie Palazzolo | Melia Russell | ) www.businessinsider.com time to read: +10 min

Silicon Valley Bank's failure has left startup founders scrambling for a new home for their money. Last Friday morning, the startup founder Mang-Git Ng zipped up the interstate before sunrise to a Silicon Valley Bank branch in St. Helena, in California's wine country. Ng's plight is similar to countless other founders following the failure of Silicon Valley Bank, who waited with bated breath over the weekend on whether they'd ever get their money back. DiversificationSilicon Valley Bank's collapse could forever change how startups stash their cash, at least two investors told Insider. Silicon Valley Bank had exclusivity clauses with some of its clients, according to a CNBC report, forcing them to use the firm for most or all of their banking services.

☆ General Catalyst CEO on SVB: The lesson learned is that we must diversify
▼ + stars: | 2023-03-13 | 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 EmailGeneral Catalyst CEO on SVB: The lesson learned is that we must diversifyHemant Taneja, General Catalyst CEO and managing director, joins 'Squawk Box' to discuss how comfortable he feels about the state of affairs regarding SVB, the incentive systems that led to this bank run at SVB, and more.

☆ More than 110 VC firms, led by General Catalyst, are banding together in support of Silicon Valley Bank
▼ + stars: | 2023-03-11 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

More than 110 venture capital firms have signed a statement in support of Silicon Valley Bank. "Silicon Valley Bank has been a trusted and long-time partner to the venture capital industry and our founders," a joint statement from more than 110 firms reads. Hemant Taneja, the CEO of the VC firm General Catalyst, which led the effort to organize support for SVB, tweeted the statement on Friday evening. Alongside General Catalyst, 12 other firms signed the initial statement, including Accel, Greylock, Kleiner Perkins, Lightspeed Venture Partners, and Upfront Ventures. Some VC firms, including Founders Fund, Y Combinator, and Union Square Ventures, advised their portfolio companies to pull the bulk of their funds out of the bank.

☆ The bulk of AI value will be captured by a lot of cloud vendors, says General Catalyst's Taneja
▼ + stars: | 2022-12-22 | 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 EmailThe bulk of AI value will be captured by a lot of cloud vendors, says General Catalyst's TanejaHemant Taneja, General Catalyst CEO and managing director, joins 'TechCheck' to discuss how much the impact of AI is already priced into publicly-traded companies, where the opportunities are in technology and disruptive use cases.

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