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☆ 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

☆ Microsoft faces disruption from AI, says outperforming fund manager dumping the stock
▼ + stars: | 2024-10-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

In 2023, the fund returned 30.7%, significantly outperforming its benchmark and the S & P 500, which was up 26%. Yiu's decision stems from his belief that Microsoft's business model is about to change significantly in light of the rise of generative AI. Microsoft has been leading the charge in generative AI adoption. The crux of the issue lies in the increased costs associated with providing AI services, according to the outperforming fund manager. Nvidia's chips, while readily available, allows the Silicon Valley company to capture much of the profit from generative AI services instead.

Persons: Stephen Yiu, Yiu, OpenAI Organizations: Microsoft, Growth, Growth Fund, CNBC Pro, Conference, Nvidia Locations: London

Propagandists seeking to influence elections around the globe have tried to use ChatGPT in their operations, according to a report released Wednesday by the technology’s creator, OpenAI. OpenAI said in its report that this year it has stopped people who tried to use ChatGPT to generate content about elections in the U.S., Rwanda, India, and the European Union. They also used ChatGPT to create social media posts in support of those sites, according to the report. They were part of a larger campaign that repeatedly spammed pro-party posts on X, a documented propaganda campaign that posted messages — often the same few messages — more than 650,000 times. According to OpenAI’s report, they also tried to get ChatGPT to tell them the default login credentials for other companies that provide industrial control systems software.

Persons: OpenAI, It’s, it’s, Donald Trump’s, ChatGPT, —, Washington didn’t, Ben Nimmo, ” Nimmo Organizations: European Union, U.S, Patriotic, United Nations, Treasury Department, Embassy Locations: U.S, Rwanda, India, Iran, Russia, China, Israel, Israeli, Jordan, cybersecurity, Washington

☆ Inside the world's first humanoid factory, where robots could eventually build themselves
▼ + stars: | 2024-10-09 | by ( Maria Gomez De Sicart | ) www.cnbc.com time to read: +2 min

It is the first factory dedicated to building humanoid robots, according to the privately held company, which has already begun testing Digit with high-profile clients like Amazon and GXO Logistics . Digit was designed to take up repetitive and mundane manufacturing tasks, helping to close the labor gap in the logistics sector. Robots like Digit can step in and take those tasks off their hands," Johnson said. The end goal, according to Johnson, is for the robots to be able to build future versions of themselves. Watch the video above for an up-close look at Digit and the RoboFab factory.

Persons: It's, Peggy Johnson, Johnson Organizations: Robotics, GXO Logistics, Agility Robotics, CNBC Tech Locations: Oregon

☆ Real AI smartphones are still a few years away, say Jefferies analysts
▼ + stars: | 2024-10-08 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The iPhone 16 lacks new features and a new AI smartphone is years away, wrote analysts on Sunday. Much of the optimism surrounding Apple this year came from its June announcement of Apple Intelligence, the company's take on artificial intelligence. In Sunday's note, Lee forecasted "flattish volume growth" in the second half of 2024 for iPhone 16 compared to the iPhone 15, and only 2.5% growth in lifecycle volume for the iPhone 16. AdvertisementTo be sure, not all analysts think the delay in introducing Apple Intelligence will hurt the company. He said that he gives little credence to third-party reports of iPhone 16 sales.

Persons: Jefferies, —, Edison Lee, Siri, Lee, Gil Luria, Davidson Organizations: Service, Apple Intelligence, Bloomberg, D.A, Apple

A torrent of false claims has muddied details around the recovery efforts following the storm, which left hundreds dead and entire communities destroyed. That weariness has been echoed by other local officials and citizens who are still reeling from one of the worst storms in U.S. history. Trump used his high-profile return to Butler, Pennsylvania, where he was nearly killed by a gunman, to continue to spread false claims about FEMA. Even as some claims were quickly debunked, more continued to surface across platforms such as X, TikTok and Facebook. The deluge has frustrated public officials, who say they distract from rescue efforts and disorient workers trying to provide help.

Persons: Hurricane Helene, Kevin Corbin, ”, Sen, Thom Tillis, I’ve, influencers, Donald Trump, Trump, Pete Buttigieg, Elon Musk, Musk, Buttigieg, ” Musk, Helene, Deanne Criswell, ABC’s, ” Criswell, “ We’ve, Criswell, “, Roy Cooper, ” Cooper, grifters Organizations: Republican, Democratic, Federal Emergency Management Agency, Facebook, FEMA, CBS, Transportation, North Carolina Department of Public Safety, North Carolina Gov Locations: WNC, Republican North Carolina, Antarctica, Butler , Pennsylvania, “, Valdosta , Georgia

☆ The top 65 stocks and ETFs changing the world with AI out of 3,400 companies, according to Bank of America
▼ + stars: | 2024-10-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

AI investment potential remains high, akin to 1996 in the internet's rise, says Bank of America. Considering how much the web has grown since then, this analogy means the potential gains from AI stocks aren't yet fully priced in. As for the widespread use of AI, the bank forecasts early-stage adoption will begin in 2025 for 44% of S&P 500 companies that discussed AI during their second-quarter earnings. AdvertisementInvestors can also choose to take the stock-picking route or buy ETFs packaged with AI stocks. As for single stocks, Bank of America compiled feedback from 130 fundamental equity analysts to get a list of their top "buy-rated" American companies with AI exposure.

Persons: — Organizations: Bank of America, Service, Global, Robotics, Intelligence, Technology, US Tech, Sector

☆ A less-expensive iPhone that still has AI features could help Apple out in China
▼ + stars: | 2024-10-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple plans to release a new iPhone SE in early 2025, Bloomberg reported. An Emarketer analyst said a cheaper AI iPhone could boost sales in Greater China. The new iPhone SE will reportedly feature an edge-to-edge screen design similar to the iPhone 14. The current iPhone SE costs $429; it's also smaller than these newer models. Related storiesStill, Gene Munster, managing partner at Deepwater Asset Management, called China Apple's "big unanswered question when it comes to Apple Intelligence."

Persons: —, it's, Mark Gurman, Jacob Bourne, Emarketer, Gene Munster, Munster Organizations: Bloomberg, Service, Apple Intelligence, Apple, Huawei, Pura, Deepwater Asset Management Locations: Greater China, China

☆ Ekholm: Fragmented AI regulation is slowing down adoption in Europe.
▼ + stars: | 2024-10-03 | 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 EmailEkholm: Fragmented AI regulation is slowing down adoption in Europe. Borje Ekholm, CEO at Ericsson, expresses concerns about the fragmentation of AI regulations in Europe, which he believes is slowing down AI adoption and contributing to Europe's productivity gap compared to the U.S.

Persons: Borje Ekholm Organizations: Ericsson Locations: Europe

☆ Meta is ready to inject AI images of you into your Instagram and Facebook feeds
▼ + stars: | 2024-10-03 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Meta is testing bringing more AI-generated content to some users' experiences on Facebook and Instagram. The expanded features will show AI-generated images in some users' feeds. AdvertisementMeta is experimenting with serving more AI-generated images and content to Facebook and Instagram users. The company will now show some users images of themselves generated by Meta AI in their Facebook and Instagram feeds, it announced at its annual developer conference, Meta Connect, last week. MetaHowever, the new AI content added to feeds could be "based on your interests or current trends," the company announced.

Persons: —, Matt Navarra, Navarra, There's, Kevin Roose, you've, Roose Organizations: Facebook, Service, Meta, Meta Connect, Social, The New York Times Locations: Navarra

☆ Citi gives its top picks for clients heading into the fourth quarter
▼ + stars: | 2024-10-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

As the fourth quarter gets underway, there are some stocks that may be poised to outperform over the next several months, according to Citi. "Now, broadening is apparent, with Value leading while Growth has not yet achieved July levels," Scott Chronert said in a Friday note to clients. Citi views newly added Ally Financial as "one of the best-positioned liability sensitive names," seeing the potential for total book value growth of 25% by the fourth quarter of next year. "While mistakes were clearly made with the '22 auto vintage, the short duration of this asset class implies ALLY will not be stuck with the problem beyond 2025," analyst Keith Horowitz wrote. Meanwhile, Citi has a buy rating on the stock, and its price target of $50 implies nearly 45% upside from Wednesday's close.

Persons: Scott Chronert, Keith Horowitz, Horowitz, Ally, Stephen Trent, Filippo Falorni Organizations: Citi, Nasdaq, Dow Jones, North America, Biosciences, Alnylam Pharmaceuticals, Ally, United Airlines, United

☆ Mark Zuckerberg says he wants to be remembered for this
▼ + stars: | 2024-10-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Meta founder Mark Zuckerberg knows how he wants to be remembered. Zuckerberg hopes Meta will be a "technology" company decades from now — not just an "app company." Zuckerberg wants people to say Meta took "really big swings" that changed the industry and the world. Right, we're not like — we're not an app company," Zuckerberg said of Meta. Zuckerberg said as well that he just wants Meta to be a company that "builds awesome things."

Persons: Mark Zuckerberg, Zuckerberg, Meta, —, Tiffany Janzen, we're, hasn't, Steve Jobs, Jobs, Elon Musk, Musk Organizations: Service, Meta, Business Insider, Harvard, Facebook, Apple, IDC, SpaceX Locations: WhatsApp, Silicon

☆ Apple’s iPhone 16 hasn’t gotten a hot start, analysts estimate, but some still counting on ‘super cycle’
▼ + stars: | 2024-09-30 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

Apple needed the iPhone 16 to be a big seller after years of sluggish iPhone sales. In particular, demand for the higher priced iPhone 16 Pro devices were down sharply year-over-year compared with the iPhone 15 launch. Analysts say there appears to have been greater demand for the lower priced iPhone 16 and iPhone 16 Plus devices than the Pro and Pro Max, which could affect the average selling price and overall iPhone sales revenue. In the first weekend of presales, Apple sold 9.8 million iPhone 16 Pros and 17.1 million iPhone 16 Pro Max devices, down 27% and 16% year-over-year, respectively, according to Kuo. “It’s all about a monster holiday quarter and the supercycle begins for iPhone 16 in our view,” Ives told CNN in an email.

Persons: New York CNN — Apple, Long, It’s, it’s, Chi Kuo, Dan Ives, Angelo Zino, Pro Max, Kuo, Zino, ” Zino, ” Kuo, Lex Chiew, CFRA’s Zino, Mike Sievert, “, ” Ives Organizations: New, New York CNN, Apple, TF International Securities, Research, Pro, Apple Intelligence, iOS, Mobile, CNBC, CNN Locations: New York, China, ”, presales

☆ Top Democrat urges Biden admin to do more to help local election officials fight a flood of disinformation
▼ + stars: | 2024-09-27 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +5 min

“Unfortunately, throughout this election cycle we have witnessed an unprecedented rise in targeted election disinformation campaigns,” Warner wrote to Jen Easterly, director of the Cybersecurity and Infrastructure Agency (CISA). They say some understaffed state and local election agencies are ill-equipped to handle the problem and are uncertain how much they can rely on federal agencies for help. In his letter, Warner said state and local governments are hard-pressed to keep up with the rapid advances in AI-generated information operations. CISA has said previously that the agency has focused on helping educate the public and train state and local election officials about the tactics employed in disinformation campaigns. Instead, for any disinformation originating from within the U.S., it will likely be up to state and local election officials to flag it to voters.

Persons: Biden, NBC News . Sen, Mark Warner of Virginia, —, ” Warner, Jen, “, Sen, Mark Warner, Tom Williams, Donald Trump’s, Warner, CISA, Kamala Harris Organizations: Democratic, NBC News ., Senate Intelligence, Infrastructure Agency, Capitol, Inc, Getty, NBC News, Officials, FBI, Department of Homeland, Warner, National Intelligence Locations: Russia, Iran, China, Florida, U.S

☆ Why Nvidia stock could soar over 500% by the end of the decade, former consulting exec says
▼ + stars: | 2024-09-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Nvidia could rocket another 545% by the end of the decade, Phil Panaro predicted. AdvertisementNvidia is headed for a meteoric run-up by the end of the decade, according to one former consulting exec. "Not to sound overconfident — it's actually inevitable provided that they can continue to make these chips," he later added of the firm's upside potential. Some strategists have been skeptical over Nvidia's rally, with the stock up a monster 2,733% over the last five years. "That's actually the best case for why it's actually going to go up.

Persons: Phil Panaro, Blackwell, —, Phil Panaro —, Jensen Huang, Panaro, Goldman Sachs, Morgan Stanley, — it's, That's, it's, haven't Organizations: Nvidia, Service, Boston Consulting Group, Goldman, Citigroup, Schwab Network, Blackwell, Big Tech, Fortune, Analysts, Nasdaq Locations: Web2

☆ Here's why Wells Fargo is our top performer Thursday — plus, 3 things we want from Costco's earnings
▼ + stars: | 2024-09-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Chipping away: Shares of Wells Fargo popped around 5% on signs of progress in its multiyear journey to clean up its operations and have its Federal Reserve-mandated asset cap removed. In addition, this news pushes back on the idea that Wells Fargo recently suffered a regulatory setback. 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.

Persons: Jim Cramer, Wells, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Micron, Street, Department of Justice, AMD, Starbucks, Chipping, Reserve, Bloomberg News, Fed, Bloomberg, Currency, Club, Costco, Jim Cramer's Charitable Locations: China, Wells

☆ The OpenAI talent exodus has become the joke of the moment in tech world
▼ + stars: | 2024-09-26 | by ( Sarah Gray | ) www.businessinsider.com time to read: +5 min

Sutskever announced his departure from OpenAI in May and launched his own AI startup focused on safety. Of the 11 cofounders of OpenAI from 2015, only Altman, Brockman (who, again, is on leave), and Wojciech Zaremba remain. Daniel Kokotajlo and William Saunders, who previously worked on OpenAI's governance and safety teams, respectively, left OpenAI in the first half of 2023. AdvertisementAdditionally, OpenAI cofounder John Schulman left in August to join OpenAI rival Anthropic — where Leike also landed. On Wednesday, Meta announced that Meta AI is on track to be "the most used AI assistant in the world."

Persons: —, Mira Murati, Sam Altman, There's, OpenAI, Airbnb, KugtVv9o6N, Matt Turck, Altman, Murati, Ilya Sutskever, Greg Brockman, Brockman, Sutskever, Sam, Madeline, PnRxZSbGgx — sophie, Bob McGrew, Barret Zoph, Sarah Friar, Jakub Pachocki, Brad Lightcap, Kevin Weil, Wojciech Zaremba, Elon Musk, Musk, Jan Leike, Daniel Kokotajlo, William Saunders, John Schulman, Anthropic, Leike, Andrej Karpathy, Kokotajlo, Fortune Organizations: Service, Bloomberg, Business, Wired, OpenAI, —, Microsoft, Meta, Apple, Nvidia, Reuters Locations: OpenAI, Slack, —

☆ SK Hynix announces mass production of updated AI chip, spurring rally in Asian semiconductor stocks
▼ + stars: | 2024-09-26 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. SK Hynix said the chip would have a 36 gigabyte capacity, the largest among existing HBM chips. The South Korean giant has been a main supplier of the high-bandwidth memory chips catering to AI chipsets for companies like Nvidia . The development came as the world's second-largest memory chipmaker seeks to continue its dominance in the AI memory chip market.

Persons: SeongJoon Cho, SK Hynix Organizations: SK Hynix Inc, SK Hynix, Bloomberg, Getty, SK, Nvidia Locations: Seongnam, South Korea

☆ Warner Bros. Discovery partners with Google for AI-generated captions on 'Max' streaming service
▼ + stars: | 2024-09-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Warner Bros. Discovery is partnering with Google to integrate the internet giant's AI technology into its Max video streaming platform to automatically generate captions. Avi Saxena, chief technology officer of Warner Bros. "Working with Google Cloud to utilize Vertex AI within Warner Bros. Thomas Kurian, CEO of Google Cloud, the tech giant's cloud computing division, said that the partnership with Warner Bros.

Persons: Avi Saxena, Saxena, Thomas Kurian Organizations: Warner Bros, Discovery, Google, Max, Warner Bros . Discovery

☆ US intel says AI is boosting, but not revolutionizing, foreign efforts to influence the 2024 elections
▼ + stars: | 2024-09-23 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

“The (US intelligence community) considers AI a malign influence accelerant, not yet a revolutionary influence tool,” an ODNI official told reporters. Iran, for example, has used AI to generate content in Spanish about immigration, which Tehran perceives as a divisive US political issue, the ODNI official said. Russia has generated the most AI content related to the US election of any foreign power, according to the ODNI official. Foreign operatives have also embraced plenty of old-school influence techniques this election cycle, such as staging videos rather than generating them with AI. This isn’t the first general US election where foreign powers have considered deploying AI capabilities.

Persons: “, Donald Trump’s, Kamala Harris ’, Harris, Donald Trump, ” Organizations: CNN, National Intelligence, Foreign, Microsoft, Ukraine Locations: Russia, Iran, Tehran, Israel, Gaza, China, San Francisco, Russian

Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley's artificial intelligence darlings. In the past year, funding for AI companies by Middle-Eastern sovereigns has increased fivefold, according to data from Pitchbook. Few venture funds have deep enough pockets to compete with the multibillion-dollar checks coming from the likes of Microsoft and Amazon . MGX was launched as a dedicated AI fund in March, with Abu Dhabi's Mubadala and AI firm G42 as founding partners. For the U.S., having sovereign wealth funds invest in American companies, and not in global adversaries like China, has been a geopolitical priority.

Persons: Goldman Sachs, Prince Mohammed bin Salman's, Uber, LIV, UAE's Mubadala, MGX, Abu Dhabi's Mubadala, Anthropic, Andreessen Horowitz, Jamal Khashoggi, It's, Bpifrance, WeWork spiraled, Jared Cohen, there's Organizations: United, CNBC, Microsoft, Gulf Cooperation Council, Saudi Public Investment Fund, Abu, Abu Dhabi Investment Authority, Qatar Investment Authority, BlackRock, Global Infrastructure Partners, Saudi, U.S, Saudi Company, Artificial Intelligence, Washington Post, SoftBank, Goldman Sachs Global Institute Locations: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Pitchbook, Abu Dhabi, Temasek, Singapore, China, UAE

☆ Sam Altman's Worldcoin turns your iris into a code for universal basic income. Its privacy chief wants you to chill about your data.
▼ + stars: | 2024-09-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

The technology is similar to Apple's Face ID but mobile platform-agnostic, given that many Worldcoin users have Android devices. So I can take a photo of your face, and, through complicated AI, I could fool Face ID, for example. If it is the first time, the orb takes the iris code and cryptographically processes the iris code. Individually, neither of those new codes looks anything like the iris code, nor can they be brought back to the iris code on their own. To get an iris code, you have to recombine all of those pieces.

Persons: Sam Altman's, Worldcoin, It's, Damien Kieran, Elon Musk, Kieran, they're, it's, Alex, Sam Altman Organizations: Service, Business, Companies, Humanity, Twitter, Google Locations: Germany, France, Kenya

☆ The company behind Sam Altman's iris-scanning ID startup just revealed new tech. Its privacy chief explains how it works.
▼ + stars: | 2024-09-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

The technology is similar to Apple's Face ID but mobile platform-agnostic, given that many Worldcoin users have Android devices. So I can take a photo of your face, and, through complicated AI, I could fool Face ID, for example. If it is the first time, the orb takes the iris code and cryptographically processes the iris code. Individually, neither of those new codes looks anything like the iris code, nor can they be brought back to the iris code on their own. The one person that can access that information is the owner of the world ID — the user.

☆ Where the tech trade could head now that the Fed is cutting
▼ + stars: | 2024-09-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Markets are gearing up for a long-awaited rate cut from the central bank Wednesday after more than two years of aggressive hiking to stem the spread of sticky inflation. Apple has been another big winner following a rate cut, rising a median of 16.2% in the past. To be sure, not every technology stock is destined for upside in the face of a cutting cycle. The stock has fallen a median of nearly 14% in the three months following an initial cut. Other potential losers following a rate cut include Analog Devices , Teradyne and IBM .

Persons: bode Organizations: Federal, Nasdaq, CNBC, Digital, Apple, Apple Intelligence, Nvidia, Micron Technology, Micron, Devices, IBM

☆ Jim Cramer says AI's real enterprise value lies in customer service
▼ + stars: | 2024-09-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Tuesday pinpointed why he thinks artificial intelligence is useful across the business world, saying its value stems from customer service potential across industries. Cramer gave examples of how AI customer service capabilities could change workflows in several fields, including retail, food service, law and health care. He suggested AI agents could answer patients' questions and free up doctors' time to engage in other pursuits. "AI makes things go faster — everything. It makes things more rational — everything," he said.

Persons: CNBC's Jim Cramer, Cramer, hasn't

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