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☆ Samsung is recalling stoves that let pets set homes on fire
▼ + stars: | 2024-08-08 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Samsung is recalling knobs on some of its electric stoves, warning that fires can be set off if pets — or even humans — bump into them. Several videos have shown pets accidentally igniting fires from jumping onto stoves and pawing at the knobs. Samsung will provide free knob locks or covers for certain slide-in electric ranges with front-mounted knobs that were sold between 2013 and 2024. CPSC is looking into fires caused by stoves due to pets jumping on them or humans accidentally bumping into them. Knob locks for Samsung range.

Persons: Samsung, CPSC Organizations: New, New York CNN, Samsung, Product Safety, Samsung Samsung Locations: New York, Colorado

☆ Banks are restricting employees from donating to the Harris-Walz campaign. Here's why.
▼ + stars: | 2024-08-08 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Financial-services firms risk the wrath of the Securities and Exchange Commission if their employees make campaign contributions to state or local officials such as Walz. Donating to the campaign would violate the regulator's "pay-to-play" rule, which keeps firms from trying to sway politicians for favors such as managing their state's pension fund. Those employees are also required to get permission to donate to the Harris-Walz campaign. It is possible to sidestep the pay-to-play rule by donating to PACs or Super PACs that aren't directly tied to the relevant candidate. "The Pay-to-Play Rule, although well-intentioned, imposes unique, unquantifiable costs on individuals by impeding their ability to participate in the political process."

Persons: —, Joe Biden, Kamala Harris, Tim Walz, Walz, Harris, Donald Trump's, Wells, Mike Pence, Pershing, Patricia Crouse, Crouse, aren't, Hester Peirce Organizations: Service, Street, for Responsive, Democrat, Minnesota Gov, Financial, Securities and Exchange Commission, Business, Citigroup, Citi, JPMorgan, Bank of America, Trump, Pershing, SEC, University of New Locations: Wells Fargo, Indiana, Massachusetts, Tallahassee , Florida, University of New Haven

CNN —Ukrainian forces are pushing further into the Kursk region of Russia, in a cross-border incursion that surprised even American officials, multiple US and Ukrainian officials tell CNN. Ukrainian forces are comprised of a mix of Ukrainian regular and special operations units, unlike previous Ukrainian operations inside Russia that often involved undercover units and local sympathizers. Russia claimed on Thursday to have halted a Ukrainian incursion into its territory, but later said that some battles are ongoing in the Kursk region. Neither the Ukrainian military nor the government in Kyiv has publicly commented on the operation. A Russian military blogger Rybar reported on Wednesday that the Ukrainian military had established control over a gas transit station near the border.

Persons: Vladimir Putin, “ Sudzha, wasn’t, Alexei Smirnov, ”, Hochu, “, Kozak, Mick Ryan, Peter Stano, Karine Jean, Pierre, Biden, ” Jean, …, Niu York, HUR, Rybar, CNN’s Mariya Knight, Olga Voitovych Organizations: CNN, Russian Ministry of Defense, Russian Federal Security Service, Russian Defense, Telegram, Russian Ministry of Health, ., Federal Medical, Biological Agency, TASS, Reuters, Russian Defense Ministry, Futura, Institute for, Kyiv, Suspilne, Kyiv “, Ukraine Military Intelligence, LB, European Union, EU Locations: Kursk, Russia, Russian, Ukraine, Korenevsky, Ukrainian, Sudzhansky, Sudzha, Malaya Loknya, Kyiv, ”, Russia’s Kursk, Moscow, Pokrovsk, Niu, Toretsk, Europe

☆ Disney falls on concerns about its theme park business. Here's why we'd buy the stock
▼ + stars: | 2024-08-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Shares of Disney fell Wednesday as concerns about attendance at its theme parks overshadowed streaming profits and better-than-expected headline results. The combined streaming business — encompassing Disney+, Hulu and ESPN+ — turned in its first-ever quarterly profit slightly ahead of schedule. Then, about two weeks ago, CNBC parent Comcast issued weak April-to-June results for its Universal theme parks business, which weighed on Disney's stock in that session . And, at this point, getting to profitability in the combined streaming business, which adds ESPN+ into the mix, was the biggest focus. "So, I do believe the parks business is in fundamentally good shape.

Persons: LSEG, —, Jim Cramer, Jim, we're, Hugh Johnston, Johnston, Disney, Bob Iger, Jim Cramer's, Walt, Gary Hershorn Organizations: Disney, Revenue, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Hulu, CNBC, PepsiCo, Wall Street, ABC Network, Geographic, Management, Magic, Walt Disney World, Corbis, Getty Locations: U.S, India, Orlando , Florida

☆ Warner Bros. Discovery stock falls as it writes down $9.1 billion, misses estimates
▼ + stars: | 2024-08-07 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Warner Bros. Here is how Warner Bros. Warner Bros. Discovery's balance sheet carries a significant amount of goodwill stemming from mergers and acquisitions, namely the combination of Warner Bros. and Discovery in 2022. Warner Bros.

Persons: Discovery, Gunnar Wiedenfels, David Zaslav, Discovery's, —, Zaslav, Disney, Hulu —, Max Organizations: Warner Brothers Discovery, Turner Broadcasting, Warner Bros, LSEG, Discovery, NBA, Warner Bros . Discovery, Amazon, Revenue, TBS, TNT, Hulu, ESPN, Fox Locations: Atlanta , Georgia

☆ In a reversal, Disney's media assets are starting to generate more excitement than its parks
▼ + stars: | 2024-08-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Here's a surprise: Disney 's media business isn't weighing down the company anymore. Disney's combined streaming businesses — Disney+, Hulu and ESPN+ — turned a quarterly profit for the first time ever, making $47 million. Meanwhile, Disney saw a "moderation of consumer demand towards the end of [fiscal] Q3 that exceeded our previous expectations" for its theme parks division. The company said last year it plans to invest $60 billion in its theme parks and cruise lines in the next decade. Disney shares dropped Wednesday, likely because investors were focused on the parks.

Persons: Here's, —, Disney, Bob Iger, Iger, Captain America, we're, Hugh Johnson Organizations: Hulu, ESPN, Disney, Netflix

☆ Greece is in the middle of an anti-cruise rebellion, with locals complaining about over-tourism and trashed streets
▼ + stars: | 2024-08-07 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +8 min

Boats full of tourists who arrive on the island, crowd the streets, and leave trash have led to the "worst season" ever, locals say. AdvertisementIn Athens and Greek islands, such as Santorini, there's a similar sentiment growing. Crowded monumentsVivian Antypa, an archaeologist and tour operator in Athens, told Business Insider that she loves working in tourism and meeting people from all over the world. Harris Doukas, the mayor of Athens, told Euro News that "Each visitor brings €0.40 to the city." "If the government takes action toward the right direction, we can make tourism better for the tourists and the locals."

Persons: —, Vivian Antypa, hasn't, Antypa, Fortune, overtourism, Beata Zawrzel, Harris Doukas, Nikos Drosos, Drosos, ARIS OIKONOMOU, Drosis, Richard Krieger, Krieger, ARIS OIKONOMOU Krieger, Greece's, Kyriakos Mitsotakis Organizations: Service, Business, Bloomberg, Euro, Santo Luxury, ARIS, Sky, Tourists Locations: Greece, Europe, Barcelona, Athens, there's, Pangrati, Santorini, Mykonos, Peloponnese

☆ North Korea’s Kim oversees delivery of tactical ballistic missile launchers
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

SEOUL, South Korea — North Korean leader Kim Jong Un oversaw the delivery of 250 new tactical ballistic missile launchers to front-line troops, state media KCNA reported on Monday, which Seoul said could be used to threaten South Korea. The launchers have been described by state media as a modern tactical attack weapon personally designed by Kim and ready to be transferred to Korean People’s Army units on the border with the South. North Korea said it test-fired a new tactical ballistic missile last month. In a speech, Kim blamed the United States for creating a “nuclear-based military bloc” that forced his country to further strengthen military capabilities. A spokesperson for Seoul’s unification ministry handling inter-Korean affairs said North Korea’s illegal nuclear and missile programs were the primary threat to peace and stability on the Korean Peninsula.

Persons: Kim Jong Un, Kim, ” Lee Sung, joon Organizations: Korean People’s Army, ., South Korea’s, Chiefs of Staff Locations: SEOUL, South Korea, North, Seoul, . North Korea, South, United States

☆ We left the U.S. and opened a bar in Paris that brings in up to $34,100 a month: 'There's an ease to living here'
▼ + stars: | 2024-08-06 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Kave and fellow American ex-pat Jennifer Crain are the co-founders of Abricot, a cocktail bar in Paris' 10th arrondissement. The bar has a small staff: three hourly employees and three contract employees. A mutual connection virtually introduced Kave and Crain shortly after, and the pair started expanding Crain's idea for a Parisian cocktail bar. They found a location and named their business Abricot, which is French slang for female genitalia. The delays ate up most of the initial investment, Crain says, as Abricot paid rent for over a year before it opened.

Persons: Allison Kave, Kave, she'd, Jennifer Crain, Crain, Abricot Organizations: Abricot, CNBC, Crain, Employees Locations: U.S, Paris, San Francisco, Austin , Texas, Brooklyn , New York, Brooklyn, crowdfunding, France, Europe

☆ Rivian tops Wall Street's second-quarter expectations amid cost cuts
▼ + stars: | 2024-08-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Rivian Automotive beat Wall Street's top- and bottom-line expectations for the second quarter as the electric vehicle maker continues to take costs out of its business. Through the first six months of the year Rivian produced about 23,600 vehicles, including only 9,162 during the second quarter due to downtime at the company's plant to retool and reduce costs. Shares of Rivian are off 37% this year amid slower-than-expected demand for EVs as well as Rivian's significant cash burn. Rivian's expenditures through the first half of the year were $537 million, including $283 million during the second quarter. Rivian ended the second quarter with $9.18 billion in total liquidity, including $7.87 billion in cash, cash equivalents and short-term investments.

Persons: Rivian, RJ Scaringe Organizations: Rivian Automotive, LSEG, Volkswagen

☆ Oil prices climb more than $1 on fear of spreading Middle East conflict
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +2 min

Oil prices climbed more than $1 on Tuesday, paring the previous day's loss as concern that an escalating Middle East conflict could hit supplies outweighed fear of a possible U.S. recession that could hurt demand in the world's biggest oil consumer. Oil's slide was limited by worry that Iranian retaliation for the assassination of a Hamas leader in Tehran may lead to a wider war in the Middle East. "Increased fear of escalating Middle East conflict prompted fresh buying," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities . "The market has largely factored in a retaliatory attack by Iran so the focus is on its scale and Israel's counterattack," Kikukawa said. If the conflict escalates, oil prices will rise, but if it is contained in the short term - as it was in April amid similar escalation fear - gain will be limited, he said.

Persons: paring, Hiroyuki Kikukawa, Kikukawa, Antony Blinken, Masoud Pezeshkian, Vladimir Putin Organizations: Brent, U.S, West Texas, NS, Nissan Securities, State Department, Reuters, OPEC Locations: Fort Stockton , Texas, Tehran, Iran, Israel, U.S, Iraq, Russia, Venezuela

Di Bari is one of thousands of residents attempting to rebuild her home and business amid a flurry of instability. Courtesy Qiana and Michele Di BariToday, many Lahaina residents who lost their homes are still displaced as they scramble from one temporary shelter to another. “The true thing about Lahaina people is you cannot take Lahaina people out of Lahaina,” Nahoo’ikaika said. A man walks past wildfire wreckage in Lahaina, Hawaii, on Aug. 9, 2023. A rainbow is seen from Put Kukui mountain over burned cars and buildings in Lahaina, Hawaii, on Aug. 13, 2023.

Persons: restauranteur Qiana Di, Michele, Di, Qiana Di, Pepe, Michele Di Bari, ”, Jamie Nahoo’ikaika, Sale Pepe, Jaret, Levi, King Kamehameha III, Di Bari, Baris, Nahoo’ikaika, James Tokioka, Tiffany Kidder Winn, Lisa Grove, —, Josh Green, Kalama McEwen, he's, McEwen, Mengshin Lin, Cindy Canham, you’ve, Canham, Whaler’s, Jimmy Carter, she'll Organizations: Di Bari, NBC, FEMA, NBC News, Tourism, Maui, Hawaii Department of Business, Economic, Rural Health Association, The Washington, Getty Locations: Lahaina, Hawaii, restauranteur Qiana Di Bari, Maui, Italian, Di Bari, Paradise , California, Qiana Di Bari, New York, “, Lahaina , Hawaii, Hawaiʻi, ”, Texas, Kihei

☆ China Evergrande's EV arm units to enter bankruptcy, reorganization proceedings
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +1 min

The Evergrande Group headquarters building in Shenzhen is pictured on January 11, 2022 in Shenzhen, Guangdong Province of China. China Evergrande New Energy Vehicle said on Monday a local court had ruled that two of its units should enter into bankruptcy and be reorganized, a week after individual creditors of the units filed for such proceedings. Shares of the electric vehicle maker plunged 7% on July 29, a day after individual creditors of Evergrande New Energy Vehicle (Guangdong) and Evergrande Smart Automotive (Guangdong) sought court approval for the units to go through bankruptcy proceedings and be reorganized. The firm said a local court hearing was held on Aug. 2, and the court ordered the units to enter into such proceedings. The EV unit of embattled real estate developer China Evergrande Group in May updated the market that its liquidators were in talks with a potential buyer to take a stake in the company, thereby increasing chances of extending a new credit line for the firm to support production.

Organizations: Group, China Evergrande, Energy Vehicle, Evergrande New Energy Vehicle, Smart Automotive, China Evergrande Group Locations: Shenzhen, Guangdong Province of China, China, Guangdong

As U.S. markets opened for trading on Monday, tech's mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia shed more than $300 billion in market cap at the opening bell, though it quickly recovered about half of its loss. The company surpassed $3 trillion in market cap and briefly passed Microsoft and Apple to become the world's most valuable company. Its market cap now sits below $2.5 trillion. A widely-read Goldman Sachs note from June warned that the biggest-spending companies had little to show for their AI expenditures.

Persons: Bitcoin, It's, Mark Zuckerberg, Sundar Pichai, Goldman Sachs Organizations: New York Stock Exchange, Nasdaq, Nvidia, Apple, Microsoft, Nikkei, Google, Elliott Management Locations: U.S, Meta, cryptocurrency

Inside the sole unit without air conditioning at Mississippi’s largest prison, inmates hang wet sheets from their cell ceilings to dampen the air and lay drenched towels strategically across their bodies. It remained unclear how severe the temperatures inside Unit 29 have been this summer. “But if they need to have air conditioning, they ought to have air conditioning. Lawmakers in Texas and other states without universal air conditioning have balked at the cost of installing it. At Parchman, inmates said heat is but one factor that leaves them feeling forgotten.

Persons: “, Parchman, Jay, Yo Gotti, ”, Burl Cain, MDOC, Roc, Jordan Siev, Reed Smith, Marcy Croft, Department’s, Tate Reeves, Otis Anthony, Cain, ” Anthony, Brown, Nicole Montagno, ” Montagno Organizations: Mississippi, Penitentiary, U.S . Justice Department, Justice Department’s Civil Rights Division, Justice Department, of Corrections, Mississippi Department of Corrections, Justice, Mississippi Today, NBC News, Mississippi State, MJ, Republican Gov, Democratic, State Rep, Democrat, Initiative, Harvard, Lawmakers Locations: Parchman, Mississippi, New York, South, Texas, Boston, U.S

☆ EV charging company moves to clamp down on charger hogs
▼ + stars: | 2024-08-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

EV fast chargers – the big tall units that look like major appliances – aren’t generally designed to completely fill an EV’s batteries. A line of EVs wait to charge at Electrify America chargers in East Brunswick, New Jersey, on July 6. At 10 of the busiest EV fast charging stations in California, Electrify America has enacted a strict limit. There can also be other legitimate reasons a driver may want to charge to 100% at a fast charger, said Barrosa. Cases like these are why Electrify America probably won’t institute an overall charging cap at charging stations near major highways, he said.

Persons: Peter Valdes, unplug, Tesla’s, ”, Sara Rafalson, we’ve, Robert Barrosa, ’ ”, EVgo, EVgo’s Rafalson, Barrosa, let’s Organizations: CNN, Chevrolet Blazer, EV, Mercedes, Benz, Hyundai, Fiat, Mazda Locations: New York City, Bristol , Pennsylvania, Bristol, East Brunswick , New Jersey, EVs, America, California, America’s

Seoul, South Korea CNN —North Korea claims it is sending 250 new tactical ballistic missile launchers toward its border with South Korea, in the latest bellicose declaration by leader Kim Jong Un against its neighbor. Photographs published by the North Korean state newspaper Rodong Sinmun showed what appears to be vehicle-based missile launchers, with dozens of large green military trucks lined up in neat rows before Kim. Kim personally oversaw the transfer of equipment to military commanders and chiefs of staff, and delivered a speech claiming the new missile launchers were built with North Korean technology, state media reported. In response to the North Korean buildup, the US and South Korea – along with Japan – have stepped up their military cooperation via exercises and deployments that Pyongyang sees as a threat. There have been at least three incidents of South Korea firing warning shots since May after North Korean military personnel crossed the demarcation line, the midpoint of the Demilitarized Zone between the two countries.

Persons: Kim Jong Un, Sinmun, Kim, ” Kim, Joseph Dempsey, “ Organizations: South Korea CNN, North, International Institute for Strategic Studies, South Korea –, North Korean Locations: Seoul, South Korea, Korea, North Korean, Korean, North Korea, North, Pyongyang, Russia, Washington, Japan

☆ You're not 'throwing away money' on rent, says self-made millionaire: 'I've made more renting than I would owning'
▼ + stars: | 2024-08-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

But when you pay rent, "you're not throwing money away," Sethi tells CNBC Make It. When looking at homes as an investment, renters commonly overlook the "phantom costs" of owning a property beyond the monthly mortgage payment. "People say they don't want to throw money away on rent," Sethi says. "I've made more money renting than I would have owning," he says, referring to investments made with money that could have been spent on a down payment and phantom costs for units similar to the ones he rented. Considering that home values have increased by 85% since 2010, many Americans have built wealth by owning a home.

Persons: Ramit Sethi, Rich, Sethi, I've, that's Organizations: CNBC Locations: Los Angeles and New York

☆ 90% of real-estate investors report losing money on a property. Here are their top regrets and how to avoid them.
▼ + stars: | 2024-08-03 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Advertisement"I had a full-time job at the time, and I even had a property manager managing the properties," Cabrera said. Dutton, who has dealt with sellers wanting out, says even property owners trying to offload the problem can lose money in the process. This way, if one unit loses money for whatever reason, the other units will continue to cash flow. In terms of considerations when thinking about the location of an investment property, Dutton noted that one of the biggest expenses buyers often miss, especially in places like South Florida, is property taxes. Another tax mistake buyers make is checking the current property tax and assuming they will pay the same amount.

Persons: it's, Whitney Dutton, Daniel Cabrera, Cabrera, Cabrera isn't, Shelby Johnson, Johnson, Dutton, Chrissy Grigoropoulus, Grigoropoulus Organizations: Service, Native Realty, US Army Locations: South Florida, San Antonio, North Carolina, Florida, New York's Nassau County, New York

☆ I clean and declutter other people's homes. Here are 5 tips you can use while decluttering your own spaces.
▼ + stars: | 2024-08-03 | by ( Sonia Weiser | ) www.businessinsider.com time to read: +5 min

For the past decade, I've been helping New Yorkers from all income brackets and in every borough organize their spaces. Get rid of all the packagingOh my god, the sheer volume of appliance and electronic packaging and manuals I've seen. Instead, use your precious closet space to store items that look good on you now. If you change sizes, you can get new clothes, either from a store or from people in your community. Closet space is a precious commodity.

Persons: I've, You'll, you'll, pare, it's Organizations: Service, Business

☆ Young climate activists favor Harris over Biden, despite his environmental wins
▼ + stars: | 2024-08-02 | by ( Elysee Barakett | Elysee Barakett Is A Health Intern At Nbc News. | ) www.nbcnews.com time to read: +8 min

The Summary Many young climate advocates see Kamala Harris as stronger on environmental issues than Joe Biden. President Joe Biden may have passed the United States’ most significant climate legislation ever, but many young environmental activists say they see Kamala Harris as stronger on the issue. But several young climate activists ages 16 to 29 said for them, the expansion of the fossil fuel industry during Biden’s presidency has clouded those successes. Harris’ young supporters have highlighted the settlements she secured as California attorney general with Chevron, BP and ConocoPhillips over their handling of hazardous materials. Sunrise Movement protesters gather near Vice President Harris' Brentwood home on April 14, calling on her to urge President Biden to declare a climate emergency.

Persons: Kamala Harris, Joe Biden, Harris, Biden, ”, Aru Shiney, Ajay, Donald Trump, “, Keanu Arpels, Greta Thunberg, Kent Nishimura, Dana Fisher, it’s, ” Fisher, ’ ” Fisher, Fisher, Harris ’, “ Biden, Kamala isn’t, Iris Zhan, “ Donald Trump, Sen, Gavin Newsom, Carlos Avila Gonzalez, Zanagee Artis, ” Young, Natalie Bookout, Robert Gauthier, Heather Hargreaves, “ there’s, “ She’s, NASA's, Olivier Douliery, Stephen Perkins, We’ve Organizations: Biden, Green, Deal, Big Oil, Sunrise Movement, Green New Deal Network, Infrastructure Investment, Jobs, Reuters, Los Angeles Times, Getty, Center for Environment, Community, Equity, American University, Chevron, BP, ConocoPhillips, Research, “, Gov, San Francisco, Brentwood, Climate Power, NASA's Goddard Space, American Conservation Coalition, Pew Research Locations: United States, Alaska, Virginia, West Virginia, Lake Mead, California, Wilmington , Delaware, San Francisco, Mar, Pineridge, Calif, Charlotte , North Carolina, Greenbelt , Maryland, AFP

☆ Even Nvidia can't escape the government's crackdown on Big Tech
▼ + stars: | 2024-08-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEven Nvidia, which appears untouchable in 2024, may not be immune to the government's sweeping crackdown on the Magnificent Seven. They have received complaints from competitors that Nvidia abused its dominance and pressured cloud providers to buy multiple Nvidia products, The Information reported on Thursday. Nvidia did not immediately respond to Business Insider's request for comment sent outside regular business hours. The DOJ's focus on Nvidia follows a series of other recent government investigations into Big Tech.

Persons: —, prem, Biden Organizations: Service, Department, Politico, Nvidia, Business, Reuters, Big Tech, FTC, DOJ, Apple, Amazon, Activision Blizzard

☆ Microsoft's cloud is 'no-brainer' for some AI startups, helping Azure gain ground on AWS
▼ + stars: | 2024-08-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +10 min

However, after EzDubs went through the Y Combinator startup program last year, the company made a quick pivot, adding Microsoft's cloud into the mix. That's because EzDubs' founders learned of a partnership that enabled Y Combinator companies to receive $350,000 worth of credits on Microsoft Azure. The current offer includes $350,000 in AWS credits, plus $300,000 reserved for tapping the custom silicon, the spokesperson said. A spokesperson later said 58% of Y Combinator startups had taken up Microsoft's credit offer, a figure that doesn't reflect actual Azure usage. "Leading AI startups use OpenAI to power their AI solutions, therefore, making them Azure customers as well."

Persons: Amrutavarsh Kinagi, Kareem Nassar, Padmanabhan Krishnamurthy, EzDubs, Krishnamurthy, Y, Annie Pearl, it's, Satya Nadella, Sam Altman, Hayden, CNBC InKeep, OpenAI, Nick Gomez, InKeep's, InKeep, Gomez, CNBC's Andrew Ross Sorkin, Prady Modukuru, Modukuru, Anthropic, Daksh Gupta, Gupta, Nassar Organizations: Google, Microsoft, CNBC, Amazon, Services, Alchemist, AWS, Hayden Field, Sync Labs, Sync, OpenAI Locations: Palo Alto , California, OpenAI's, San Francisco

☆ Why not all semiconductor firms are benefitting from the AI boom like Nvidia has
▼ + stars: | 2024-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. Current interest in artificial intelligence revolves around two key terms — large language models (LLMs) and generative AI. Not all chip firms are benefitting from the boom in artificial intelligence, earnings show, underscoring the complexities of the semiconductor supply chain and dominance of some companies over others in different parts of the sector. But Nvidia's rival AMD has brought its own chip to market, called the MI300X AI chip, for AI purposes and is beginning to see the rewards. Chip manufacturing and tool companies appear to be benefitting too from the boom in AI.

Persons: Jensen Huang, Meta, ASML Organizations: Nvidia Corp, Blackwell, Nvidia, Technology, Google, Tech, Microsoft, AMD, Samsung, Qualcomm, CNBC

Along with the downgrade, Roach slashed her price target to $286 from $463. Along with the downgrade, Arya cut his price target to $23 from $35 a share. — Samantha Subin 6:15 a.m.: Apple results suggest 'best is yet to come,' support multiyear upgrade cycle The latest earnings report from Apple reaffirms analysts' confidence in the technology giant and a multiyear upgrade cycle when it launches its latest iPhone later this year. Bernstein's Mark Shmulik trimmed his price target by $5 to $210 a share but encouraged investors to use the sell-off as an entry point. His price target of $95, down from $99, implies downside of 6.6% over the next 12 months.

Persons: Wells Fargo, Morgan Stanley, Henning Cosman, Cosman, — Samantha Subin, Goldman Sachs downgrades Lululemon, Goldman Sachs, Lululemon, Brooke Roach, Roach, LULU YTD, Vivek Arya, Arya, Samantha Subin, America's Wamsi Mohan, macOS, Samik Chatterjee, Citi's Atif Malik, Bernstein's Toni Sacconaghi, Morgan Stanley's Brian Nowak, ISI's Mark Mahaney, Bernstein's Mark Shmulik, Wells, downgrades Morgan Stanley Wells Fargo, Mike Mayo, Mayo, Morgan, Fred Imbert Organizations: CNBC, Barclays, Ferrari, Bank of America, Intel, AMD, Apple, Apple Intelligence, America's, Amazon, Web Services, North Locations: Europe, U.S, Lululemon

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