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☆ OpenAI opens its first Asia office in Japan as a 'first step' in its commitment to the region
▼ + stars: | 2024-04-15 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

OpenAI has opened its first Asian office in Tokyo, Japan as the ChatGPT developer aims to expand its global presence. As part of the move, the company has appointed Tadao Nagasaki as the new president of OpenAI Japan, to head commercial and market engagement efforts. Altman met with Prime Minister Fumio Kishida last year and reportedly mentioned he was looking into opening a new office in Japan. The company is backed by Microsoft and has a private market valuation that's reportedly approaching $100 billion. This is the "single largest investment in its 46-year history in Japan, also the site of its first international office," Microsoft said.

Persons: OpenAI, Sam Altman, Tadao, Altman, Fumio Kishida Organizations: Toyota, Microsoft Locations: Tokyo, Japan, Tadao Nagasaki, OpenAI Japan

☆ Major driver of the AI trade takes a breather. But Nvidia's business is still full steam ahead
▼ + stars: | 2024-04-05 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

The major force behind this year's AI trade has cooled off in recent weeks. "For three decades we've pursued accelerated computing, with the goal of enabling transformative breakthroughs like deep learning and AI," Huang said at GTC. So, as the benefits of AI trickle through the "AI supply chain," look for the benefits of AI to spread and earnings to grow as a result. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jensen Huang, Huang, we've, It's, Jim Cramer, Nvidia –, We're, hyperscaler, Jack, McDonald's, Jim, That's, Jim Cramer's, Justin Sullivan Organizations: Nvidia, GTC, Blackwell, Apple, Microsoft, Alphabet's Google, Google, Club, Web Services, Super, CNBC, Intelligence, SAP Center Locations: U.S, China, San Jose , California

☆ JPMorgan says this tech stock that's tripled this year can keep going as it helps lead the AI revolution
▼ + stars: | 2024-03-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Super Micro Computer's red-hot run should continue as it powers the artificial intelligence revolution sweeping Wall Street, according to JPMorgan. Analyst Samik Chatterjee initiated coverage of Super Micro Computer with an overweight rating as the company leads the AI compute market "still in its infancy." Supporting the target and a next-twelve months EPS multiple of 36 times is an expectation for rapid growth and earnings upside within the AI server market. SMCI YTD mountain Super Micro shares year to date Driving ongoing upside is an expectation for rapid growth in the server market. This suggests that Super Micro will conservatively gain 10% to 15% of the AI server market.

Persons: Samik Chatterjee, Micro's, Chatterjee Organizations: JPMorgan, Computer, Super

☆ Here's where to invest $1 million right now, according to the pros
▼ + stars: | 2024-03-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

If you had a spare $1 million to invest right now, what should you buy? He would allocate roughly 60% into stocks this way: 15% each to U.S. large-cap growth stocks and U.S. large-cap value stocks; 4% to small-caps; and 8% to mid-caps. "We really believe in style diversification and feel that remaining diversified with value and growth stocks remains prudent," Benson said. With a million dollars to invest, it would be "reasonable" for investors to put their money in both small- and mid-cap stocks now, he said. The average amount of money that his clients invest is $1.3 million, and his firm manages over $1.2 billion.

Persons: Aaron Benson, Baird, Benson, Chris Fasciano, Shams Afzal, Afzal, Louis Navellier, they've, Navellier, Li Auto Organizations: U.S . Federal, CNBC Pro, Commonwealth Financial Network, Carnegie Investment, Navellier, Associates, Nvidia, Computer, Micro, Mexico's Vista Energy, Volkswagen, Alamos Locations: U.S, Mexico, India, China

☆ Nvidia's AI ambitions in medicine and health care are becoming clear
▼ + stars: | 2024-03-24 | by ( Michelle Castillo | ) www.cnbc.com time to read: +3 min

Last week, Nvidia announced deals with Johnson & Johnson for use of generative AI in surgery, and with GE Healthcare to improve medical imaging. "Health care, whether it's biotechnology, chemicals, or drug discovery is a very powerful area." About 41 percent of biotech CEOs surveyed by EY in late 2023 said they were looking at "concrete" ways generative AI could be used for their companies. "This is very high for my experience, having been 30 years in this industry," Ural said. It also partnered in 2021 with Schrödinger for drug discovery.

Persons: Johnson, Raj Joshi, It's, EY, it's, Colette Kress, Roche's Genentech Organizations: Nvidia, Johnson, GE Healthcare, Companies, NVIDIA, NVIDIA BioNeMo Locations: Arda, Americas, Ural, NVIDIA Clara

☆ Here are some of Wall Street’s top derivative plays following Nvidia's latest chip launch
▼ + stars: | 2024-03-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Shares of the chip giant pulled back about 2% during Tuesday's session, after announcing its latest AI chips . While Nvidia's latest announcements solidify the company's AI leadership, Wall Street anticipates some positive tailwinds for a slew of derivative players. Semiconductor derivative plays Nvidia's latest announcements could pose some major tailwinds for companies operating within the chipmaker's ecosystem. Liquid cooling The liquid cooling industry may also benefit as Nvidia harnesses the technology to cool the 72 Blackwell GPUs in its new server rack system, known as GB200 NVL72. "We believe built-in liquid cooling capabilities in addition to the power density of the system should be a positive for VRT's liquid cooling and power management businesses," he wrote.

Persons: Harlan Sur, Blackwell, Rosenblatt, Hans Mosesmann, Goldman Sachs, Toshiya Hari, Matt Bryson, Laura Chen, Oppenheimer, Rick Schafer, Amit Daryanani, Vertiv, Headwinds, Nvidia's Blackwell, Hari Organizations: Nvidia, NVIDIA, Micron Technology, MU, Micron, Taiwan Semiconductor, Wall, Marvell Technology, Blackwell, Micro Computer, Mosesmann, Devices, AMD, Data, Intel Locations: America

☆ How real estate's pain could be Wall Street's gain as Blackstone, Goldman, and others dive back in.
▼ + stars: | 2024-03-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.

Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis

☆ AI is having a '1995 moment'
▼ + stars: | 2024-02-23 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Read previewArtificial intelligence is having a 90s-like boom — and one analyst says Nvidia is leading the charge. "This is a 1995 Moment as now the AI Revolution and $1 trillion of incremental spending over the next decade is hitting the software ecosystem and rest of tech sector," Dan Ives, a tech analyst at Wedbush Securities, wrote in a recent analyst note. "The AI Revolution starts with Nvidia and in our view, the AI party and popcorn is just getting started," Ives said. "We started the AI journey with the hyperscale cloud providers and consumer internet companies," Huang said. "We're really just getting started," Huang said.

Persons: —, Dan Ives, Ives, Nvidia didn't, Jensen Huang —, Nvidia who's, Huang Organizations: Service, Nvidia, Wedbush Securities, Business, Adobe, Oracle

☆ Nvidia lives up to the earnings hype and then some, prompting our big price target hike
▼ + stars: | 2024-02-21 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

NVDA 5Y mountain Nvidia 5 years The Nvidia phenomenon is something for all investors to take note of and study. The first question we got on the call was in relation to the sustainability of the Data Center sales momentum. Generative AI isn't possible in a data center built for traditional general-purpose computing. In fact, Nvidia believes AI inferencing was responsible for about 40% of Data Center sales over the past year. This is why Nvidia was designated by Jim Cramer and the Club as an "own it, don't trade it" stock.

Persons: Jensen Huang, it's Nvidia's, Thursday's, we've, Colette Kress, we're, Nvidia's Huang, Huang, inferencing, It's, Jim Cramer, Apple's, Jim Cramer's, Jim, Ann Wang Organizations: Nvidia, Revenue, U.S, Data, Microsoft, Moore's Law, world's, Management, Software, Enterprise, Club, Apple, CNBC Locations: tacking, China, Taipei, Taiwan

☆ Here are Friday's biggest analyst calls: Nvidia, Nike, Tesla, Coinbase, Arm, Meta, Eli Lilly, UPS, Carvana & more
▼ + stars: | 2024-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Meta as buy Bank of America said it's bullish on Meta adding the Broadcom CEO to its board of directors. Bank of America reiterates Nvidia as buy Bank of America said it's standing by the stock heading into earnings next week but that a pullback is possible. Baird upgrades UPS to outperform from neutral Baird said in its upgrade of UPS that the risk/reward is too attractive to ignore. Bank of America downgrades Dropbox to underperform from buy Bank of America said the "bull thesis has played out" for the data storage company. Bank of America upgrades Cellebrite to buy from neutral Bank of America said it sees business trends stabilizing for the digital intelligence company.

Persons: it's, Hock Tan, NVDA, Goldman Sachs, Goldman, TD Cowen, Grosvenor, KBW, TTD, Baird, Wells, Tommy Hilfiger, Tommy, Raymond James downgrades Carvana, Raymond James, Wayfair, Oppenheimer, Morgan Stanley, Tesla, Guggenheim, SunPower, Jefferies, Eli Lilly, Roku Organizations: Bank of America, Meta, Broadcom, " Bank of America, Nvidia, Informatica, BMO, Trade, Google, U.S, UPS, JPMorgan, Daiwa, CY2025, UBS, Newell Brands, RBC, Nike, of America, Barclays, Netflix, JPMorgan downgrades Bloom Energy, BE, Pharma Locations: CY24, CY2024, Wayfair, U.S

The chipmaker was initiated with an outperform rating by Loop Capital, which set a Wall Street-high price target that calls for 65% upside. He also raised his price target on U.S.-traded shares to $22.22 from $19.16, implying shares could rise 27% from Thursday's close. It also cut its price target by $1.50 to $8.50, suggesting just 6.2% upside potential from Thursday's closing price. — Hakyung Kim 5:41 a.m.: Oppenheimer downgrades Nike Don't expect much out of Nike shares in the near future, according to Oppenheimer. The firm downgraded the apparel giant to perform from outperform and slashed its price target to $110 per share from $150.

Persons: Oppenheimer, Carvana, Raymond James Carvana's, Raymond James, Mitch Ingles, Ingles, — Hakyung Kim, Jefferies, Alex Wright, Wright, Peter Grom, Chris Peterson's, Grom, Newell, Brian Nagel, Fred Imbert, Ananda Baruah, Hakyung Kim Organizations: CNBC, Nvidia, Nike, Loop, Jefferies, UBS, Newell Brands Consumer, Newell Brands, Nvidia Nvidia, CY2025 Locations: Thursday's, America, CY2024

☆ Nvidia gets a $1,200 price target from Loop Capital, 65% above current price
▼ + stars: | 2024-02-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Nvidia 's powerhouse run is far from over, according to Loop Capital. Analyst Ananda Baruah initiated coverage of the chipmaker with a buy rating and Wall Street price target high of $1,200, representing 65% upside from Thursday close. NVDA 1Y mountain Nvidia shares over the last year "We're gonna party like it's 1995!" Underpinning Baruah's price target is the belief that Nvidia is at the "front end" of a multiyear cycle as hyperscalers transition to greater graphics processing unit compute. Heightened IT spending and budgets as companies hunt for ways to harness AI as they convert more data to the cloud should also bode well for Nvidia, Baruah said, noting that budgets are expected to increase to 45% from 30% in 2023.

Persons: Ananda Baruah, We're, bode, Baruah, — CNBC's Michael Bloom Organizations: Nvidia, Capital, AMD

☆ Tending to AI's power needs is a booming business. These stocks are in the sweet spot
▼ + stars: | 2024-01-23 | by ( Pia Singh | ) www.cnbc.com time to read: +13 min

In fact, "data centers are taking a disproportionate amount of incremental capacity being added by electrical equipment manufacturers." Much of the energy data centers consume is used to train AI models as well as to run them. Natural resources, power supply, funding — the necessities that allow for the existence of the data centers — aren't exactly infinite. The company's business took off last year as data centers began to need more electrical equipment capacity and generated more heat. JPMorgan has a neutral rating on GE with a $124 price target, 5.5% below the stock's Monday close.

Persons: Andrew Obin, Stephen Tusa, Obin, It's, TD Cowen, Michael Elias, Tusa, Eaton, hasn't, Elias, I've, Hubbell, repurposing, Martyn Briggs Organizations: Nvidia, Bank of America, JPMorgan, General Electric, Hubbell Power Systems, U.S . Department of Energy, Google, Oracle, Microsoft, Power, Bloomberg, Energy, GE, Dominion Energy, Dominion Locations: Eaton, BofA, U.S, Northern Virginia, FactSet

☆ AMD soars as AI chip sales prediction bodes well for rivalry with Nvidia
▼ + stars: | 2023-11-01 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - Shares of Advanced Micro Devices (AMD.O) jumped 8% on Wednesday, after an upbeat AI chip sales forecast signaled the company was making progress in its bid to catch up with market leader Nvidia (NVDA.O). The optimism over AI chip sales helped ease worries about a disappointing fourth-quarter forecast and put it on course for market value gains of nearly $13 billion, based on the $106.41 share price. CEO Lisa Su on Tuesday provided a 2024 sales forecast for the first time for the MI300 chips, designed to compete against the advanced H100 chips sold by Nvidia. That would make the MI300 the fastest product to ramp to $1 billion in sales in AMD's history. The CEO also said the MI300 chips had won commitments from "multiple, large hyperscale customers", a term that refers to large tech and cloud computing companies.

Persons: Florence Lo, Lisa Su, TD Cowen, Morningstar, Brian Colello, Samrhitha, Sriraj Organizations: Devices Inc, REUTERS, Micro Devices, Nvidia, Thomson Locations: Bengaluru

☆ Top Wall Street analysts remain optimistic about these five stocks
▼ + stars: | 2023-10-29 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

To that end, here are five stocks favored by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Mahaney reiterated a buy rating on NFLX stock with a price target of $500. Baird analyst Colin Sebastian recently initiated a buy rating on CART stock with a price target of $31. SLBOilfield services company SLB (SLB), formerly Schlumberger, recently reported better-than-expected third-quarter adjusted earnings. Calling SLB a structural winner, particularly during pullbacks, Mehta reiterated a buy rating on the stock with a price target of $65.

Persons: Dado Ruvic, Wall, Mark Mahaney, Mahaney, TipRanks, roadmaps, Harlan Sur, Sur, Baird, Colin Sebastian, Sebastian, Instacart, SLB, Goldman Sachs, Neil Mehta, Mehta, Tesla Organizations: Reuters, Netflix, Nvidia, JPMorgan, TipRanks, Schlumberger, Saudi Aramco, United Arab Locations: Saudi, United Arab Emirates, Qatar

☆ Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarter
▼ + stars: | 2023-10-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

That's faster than Google Cloud's 22% growth and more than double the pace of expansion at Amazon Web Services, which reported 12% growth. "Today more than half of all funded generative AI startups are Google cloud customers," Alphabet CEO Sundar Pichai said on the company's earnings call Tuesday. "Our generative AI business is growing very, very quickly," Jassy said. Jassy said companies including Adidas, Booking.com , Merck and United Airlines are building generative AI apps in AWS. Still, Amazon was behind Microsoft in releasing a tool for deploying generative AI.

Persons: Satya Nadella, Mark Moerdler, Sundar Pichai, Andy Jassy, Jassy, Brian Olsavsky, Jefferies, Brent Thill Organizations: Microsoft, Google, Amazon Web Services, AWS, Bernstein Research, Adidas, Booking.com, Merck, United Airlines, OpenAI Service, Oracle, Skanska, Starbucks, Amazon Locations: OpenAI, Maersk

☆ Stocks like Microsoft offer 'double digit growth' ahead thanks to AI, Wall Street analysts say
▼ + stars: | 2023-09-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Analysts say these stocks have double-digit growth potential and investors should buy shares now. They include: Microsoft, Wayfair, Pearson and Broadcom. Davidson admitted that the home category is displaying some degree of uncertainty, but Forte says he has confidence in Wayfair management's ability to deliver. In addition, Pearson's three emerging businesses, including Pearson+, English Language Learning and Workforce Solutions, are poised to "demonstrate double-digit growth," he said. Emerging businesses demonstrate double-digit growth, backed by cash flows from the core A & Q business."

Persons: Wayfair DA Davidson, Tom Forte, Davidson, Forte, Pearson, Morgan Stanley, Luke Holbrook, Morgan Stanley's, Holbrook, Cody Acree, Acree, DA Davidson, AVGO Organizations: CNBC, Microsoft, Wayfair, Pearson, Broadcom, Solutions, Nvidia, Citigroup, Benchmark, Data Center

☆ Broadcom's post-earnings pullback doesn't shift the fundamentals. It's a buying opportunity
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards. In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment. Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue). Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth. Industrial sales (about 3% of segment revenue) were down 3% year-over-year.

Persons: Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson Organizations: Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC

☆ An under-the-radar AI beneficiary could rally more than 20% from here
▼ + stars: | 2023-08-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Growing demand for connectivity solutions as artificial intelligence adoption accelerates should benefit this lesser-known semiconductor name, according to Goldman Sachs. Analyst Toshiya Hari lifted his price target on Credo Technology to $18 from $16 a share, equal to 21% upside from Thursday's close. The higher price target at Goldman comes after AI chipmaker Nvidia 's second consecutive show-stopping quarterly report . Along with reiterating Goldman's buy rating, Hari lifted revenue and adjusted EBITDA estimates by 5% and 4% over the next two years, respectively. Bolton lifted his price target to $20 from $17 in a Friday note, equivalent to more than 34% upside from Thursday's close.

Persons: Goldman Sachs, Toshiya Hari, Goldman, Hari, Credo's, …, bode, Needham, Quinn Bolton, Bolton, — CNBC's Michael Bloom Organizations: Technology, AEC, Nvidia, Microsoft Locations: China

☆ Nvidia CEO predicts $1 trillion will be spent over 4 years upgrading data centers for AI. A lot of that bill will probably be paid by Amazon, Google, Microsoft, and Meta.
▼ + stars: | 2023-08-24 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

"There's about $1 trillion worth of data centers, call it, a quarter of a trillion dollars of capital spend each year," he said. "So, what is giving you the confidence that they can continue to carve out more of that pie for generative AI? And that trillion dollars of data centers is in the process of transitioning into accelerated computing and generative AI. And so, what you're seeing, all of a sudden enabled by generative AI, enabled by accelerated computing, generative AI came along. AdvertisementAdvertisement"There's about $1 trillion worth of data centers, call it, a quarter of a trillion dollars of capital spend each year.

Persons: Jensen Huang, it's, " Jensen, Vivek Arya, Bank of America Merrill Lynch Organizations: Nvidia, Google, Microsoft, Morning, Meta, Bank of America

☆ Buy this chip stock to ride a 'wave of AI-led growth,' according to B. Riley Securities
▼ + stars: | 2023-08-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Marvell Technology could win big in the next "wave of AI-led growth," according to B. Riley Securities. Analyst Craig Ellis upgraded shares to a buy from neutral rating as enterprise spending reaccelerates and inventory-related headwinds begin to ease. Shares of Marvell are up more than 55% this year as investors buy into the AI trade, and more gains could come. To be sure, some headwinds loom ahead in what B. Riley views as a "still-volatile market." This includes potentially weak server and storage spending within enterprise markets despite some signs of moderation, Ellis said.

Persons: Craig Ellis, Ellis, Riley, — CNBC's Michael Bloom Organizations: Marvell Technology, Riley Securities, Marvell

☆ Nvidia launches new AI chip configuration
▼ + stars: | 2023-08-08 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

REUTERS/Robert Galbraith/File PhotoAug 8 (Reuters) - Nvidia (NVDA.O) announced a new configuration on Tuesday for its advanced artificial intelligence chips that is designed to speed generative AI applications. The configuration is optimized to perform AI inference functions that effectively power generative AI applications such as ChatGPT. Nvidia's Grace Hopper Superchip design stitches together one of the company's H100 graphics processing units (GPU) with an Nvidia-designed central processor. The underlying AI models that power the generative AI apps that are capable of producing human-like text and images continue to grow in size. Nvidia plans to sell two flavors: a version that includes two chips that customers can integrate into systems, and a complete server system that combines two Grace Hopper designs.

Persons: Robert Galbraith, Grace Hopper Superchip, Ian Buck, Nvidia's Grace Hopper, Buck, Grace Hopper, Max A, Marguerita Choy Organizations: Nvidia, REUTERS, Thomson Locations: Santa Clara , California, San Francisco

☆ A.I. offers 'magic elixir' for a slowing economy, says Raymond James. The best ways to play it
▼ + stars: | 2023-07-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Artificial intelligence may be the answer to a slowing economy, according to Raymond James. The Wall Street firm said AI is potentially the next "productivity catalyst" for a lackluster macro backdrop and outlined its favorite stocks to play the trend. These are some of the AI-focused names Raymond James recommends betting on: Perhaps unsuprisingly, Microsoft made the list. Raymond James also highlighted data infrastructure stocks powering AI platforms as another growth-driver for businesses such as Arista Networks . Other top AI picks from Raymond James include Salesforce , Alphabet and American Tower Corporation .

Persons: Raymond James ., commercializes, Frank Louthan, Raymond James, Wall, NVDA, Louthan, — CNBC's Michael Bloom Organizations: Microsoft, Nvidia, Arista Networks, Wall Street, Tower Corporation

☆ What the potential U.S. ban of A.I. chips to China could mean for Nvidia
▼ + stars: | 2023-06-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Shares of Nvidia were under pressure as investors weighed the effect of potential new restrictions on exports of artificial intelligence chips to China, but Wall Street is still upbeat on the stock. Several analysts are projecting China could be between 10% and 15% of Nvidia's data center revenue this year. Evercore ISI maintained its outperform rating on the stock and called the news "a little speed bump on the AI highway." In the near term, Nvidia should be able to ship the current backlog, Prisco said in the Tuesday note. NVDA YTD mountain Nvidia year-to-date Citi analysts also said they believe AI demand will exceed supply this year and that Nvidia "can move its chips around."

Persons: Biden, Goldman Sachs, Toshiya Hari, Evercore, Matthew Prisco, Prisco, CNBC's Michael Bloom Organizations: Nvidia, Wall Street Journal, Bank of America, ISI, Citi, " Bank of America Locations: China, Hong Kong, NVDA

☆ OpenAI CEO visits South Korea as country seeks to encourage AI development
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 9 (Reuters) - Open AI Chief Executive Sam Altman is set to meet with South Korean President Yoon Suk Yeol and about 100 local startups on Friday, as the country seeks to encourage domestic competitiveness in artificial intelligence. After crisscrossing Europe last month meeting lawmakers and national leaders to discuss the prospects and threats of AI, Altman has travelled to Israel, Jordan, Qatar, United Arab Emirates, India and South Korea - all this week. The European Union is moving ahead with its draft AI Act, which is expected to become law later this year, while the United States is leaning toward adapting existing laws for AI rather than creating whole new legislation. South Korea has new AI regulation awaiting full parliament approval, which is seen as less restrictive than the EU's version. South Korea's Ministry of Science and ICT announced in April plans focused on fostering local AI development, such as measures to provide datasets for training hyperscale AI, while continuing discussions in AI ethics and regulations.

Persons: Sam Altman, Yoon Suk, Altman, Naver, OpenAI, ChatGPT, Joyce Lee, Heekyong Yang, Deepa Babington Organizations: South Korean, crisscrossing, LG, Financial Times, Microsoft Corp, European, South Korea's Ministry of Science, ICT, Thomson Locations: SEOUL, crisscrossing Europe, Israel, Jordan, Qatar, United Arab Emirates, India, South Korea, Korea, United States, China, Kakao, Spain, Mexico, South

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