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☆ What is Bluesky, the fast-growing social platform welcoming fleeing X users?
▼ + stars: | 2024-11-16 | by ( ) www.cnbc.com time to read: +2 min

Disgruntled X users are again flocking to Bluesky, a newer social media platform that grew out of the former Twitter before billionaire Elon Musk took it over in 2022. The platform resembles Musk's X, with a "discover" feed and a chronological feed for accounts that users follow. The platform gained 2.6 million users in the week after X was banned in Brazil in August — 85% of them from Brazil, the company said. About 500,000 new users signed up in one day in October, when X signaled that blocked acascounts would be able to see a user's public posts. Despite Bluesky's growth, X posted after the election that it had "dominated the global conversation on the U.S. election" and had set new records.

Persons: Elon Musk, Musk, Jack Dorsey, Bluesky, X, — Locations: Brazil, —

☆ Defense tech companies like Anduril hope Trump can streamline military contracts
▼ + stars: | 2024-11-16 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Others in the defense industry are less optimistic. Tech billionaire Palmer Luckey's bet on the defense industry is paying off at Anduril, the drone-making company he founded. AdvertisementSacknoff said that procurement reform in the defense industry is not a new concept and that the Defense Department is always restructuring its contracting process. Richard Aboulafia, managing director at AeroDynamic Advisory, a consulting firm, said that reforming the defense industry will take time. AdvertisementSacknoff said the military defense business is always looking for a "counter" to the newest technology and that the growth of autonomous drones would likely bring more innovations to stop them.

Persons: Palmer Luckey, Anduril, Palmer Luckey's, Donald Trump's, Brian Schrimf, Schrimpf, Scott Sacknoff, Sacknoff, Richard Aboulafia, Abaulafia, DefenseScoop, Tesla, Eric Schmidt, Schmidt Organizations: Tech, Yahoo, Spade, Defense Department, Teledyne, Defense, Google Locations: Anduril, United States, Saudi Arabia

☆ X may be the real winner of Jake Paul vs. Mike Tyson after an underwhelming fight and Netflix tech issues
▼ + stars: | 2024-11-16 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

AdvertisementNetflix's highly-anticipated boxing bout between Jake Paul and Mike Tyson was hit with technical issues. Billed as a "must-see boxing mega-event" by Netflix, YouTuber-turned-boxer Jake Paul's fight with former heavyweight champion Mike Tyson wasn't exactly a "Thrilla in Manila." "The biggest winner from today's fight isn't Mike Tyson, Jake Paul or even Netflix. Mike Tyson and Jake Paul at a press conference for their fight. Cooper Neill / Getty Images for NetflixIn Friday's fight, Paul defeated former undisputed heavyweight world champion Tyson via unanimous decision.

Persons: Jake Paul, Mike Tyson, Elon, Jake Paul's, Mike Tyson wasn't, Elon Musk, Dave Chappelle's, Evander Holyfield, Kate Scott, today's, Cooper Neill, Paul, Tyson, Katie Taylor, Amanda Serrano, Taylor Organizations: Netflix, YouTuber, netflix, Dallas Cowboys, T, NFL, Business Locations: Manila

☆ Super Micro faces deadline to keep Nasdaq listing after 85% plunge in stock
▼ + stars: | 2024-11-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro Computer could be headed down a path to getting kicked off the Nasdaq as soon as Monday. Super Micro's stock is now equal to where it was trading in May 2022, after falling another 11% on Thursday. Super Micro could also get an extension from the Nasdaq, giving it months to come into compliance. "Given that Super Micro's accounting concerns have become more acute since Super Micro's quarter ended, its weakness could ultimately benefit Dell more in the coming quarter," Bernstein analyst Toni Sacconaghi wrote in a note this week.

Persons: Charles Liang, Ernst & Young, Bernstein, Toni Sacconaghi Organizations: Super, Computer Inc, Nasdaq, SEC, Securities and Exchange Commission, Super Micro, Nvidia, Hindenburg Research, Ernst, CNBC, Dell Locations: Taipei, Taiwan

☆ Stocks making the biggest moves premarket: Alibaba, Applied Materials, Ulta Beauty and more
▼ + stars: | 2024-11-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Applied Materials — Shares tumbled more than 8% after the semiconductor equipment manufacturer offered weak revenue guidance for the current quarter. Applied Materials said it forecasts $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. Berkshire Hathaway bought more than 1.2 million shares, making the investment worth around $550 million at the end of September. Ulta Beauty – Shares slipped 5% after Berkshire Hathaway revealed in a regulatory filing that it had nearly dissolved its position in the beauty retailer, selling around 97% of its shares. Ulta was a new bet for Berkshire, which had just bought the stock in the second quarter.

Persons: Robert F, Kennedy Jr, Donald Trump's, Warren Buffett, Berkshire Hathaway, Ulta, Palantir, Jesse Pound, Lisa Kailai Han, Pia Singh Organizations: Materials, LSEG, Moderna, Department of Health, Human Services, Corp, —, Berkshire, Pool Corp, Nasdaq, New York Stock Exchange Locations: China, Domino's

☆ 55,000 Postal Workers in Canada Strike Over Pay
▼ + stars: | 2024-11-15 | by ( Isabella Kwai | More About Isabella Kwai | ) www.nytimes.com time to read: +1 min

Postal workers across Canada went on strike starting on Friday over pay and working conditions, a work stoppage that is expected to severely disrupt deliveries ahead of the busy holiday period. The Canadian Union of Postal Workers, which represents about 55,000 people, said in a statement that it had begun the nationwide strike, which started at midnight, after a year of failed negotiations with Canada Post, the country’s main postal operator. The strike will shut down Canada Post’s operations, and no mail or parcels will be processed or delivered through the system, the company said in a statement. “A national strike of any length will impact service to Canadians well after the strike activity ends,” said Canada Post, which is owned by the Canadian government. Other courier services, which have been muscling in on Canada Post’s business in recent years, will continue running.

Persons: ” Organizations: Canadian Union of Postal Workers, Canada Post Locations: Canada, “

☆ Alibaba shares rise 5% in premarket after Chinese tech giant posts 58% jump in profit
▼ + stars: | 2024-11-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Alibaba said net income rose 58% year-on-year to 43.9 billion Chinese yuan ($6.07 billion) in the company's quarter ending Sept. 30, on the back of the performance of its equity investments. This compared with a LSEG outlook of 25.83 billion yuan. Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG data. Investors are closely watching the performance of Alibaba's main business units, Taobao and Tmall Group, which reported a 1% annual uptick in revenue to 98.99 billion yuan in the September quarter. The e-commerce giant's overseas online shopping businesses, such as Lazada and Aliexpress, meanwhile posted a 29% year-on-year hike in sales to 31.67 billion yuan.

Persons: Alibaba, — Organizations: Tmall, ING Locations: York, London, Beijing

☆ Elon Musk's xAI raising up to $6 billion to purchase 100,000 Nvidia chips for Memphis data center
▼ + stars: | 2024-11-15 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. Elon Musk's artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC's David Faber. The money will be used to acquire 100,000 Nvidia chips, per sources familiar with the situation. Musk's AI startup, which he announced in July 2023, seeks to "understand the true nature of the universe," according to its website. Last November, X.AI released a chatbot called Grok, which the company said was modeled after "The Hitchhiker's Guide to the Galaxy."

Persons: Elon Musk, Donald Trump, CNBC's David Faber, Faber, Tesla, X.AI, OpenAI, Musk, Sam Altman, Google's Bard, Claude chatbot, Trump, Biden's Organizations: Republicans, Hyatt, Elon, Memphis, Google's Locations: Washington , DC

☆ Tesla's Chinese EV competitors are racing to build their own Optimus rivals
▼ + stars: | 2024-11-15 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Tesla's Chinese rivals are building their own humanoid robots to rival Tesla. EV startup Xpeng unveiled its Iron humanoid robot at its AI day event this month. The company said Iron was already deployed in its factories, joining BYD and Nio in using humanoid robots to build cars. AdvertisementTesla is facing fierce competition in China from local EV makers — and now they're building their own versions of Elon Musk's Optimus robot. AdvertisementThe scramble to incorporate humanoid robots comes as Elon Musk touts Tesla's Optimus robot.

Persons: Iron, —, Tesla, Elon, Xpeng, Ubtech, Walker, BYD, Elon Musk, Tesla's Organizations: Service, —, Aircraft, Dongfeng Motors, EV, Elon Locations: BYD, China, Tesla

☆ Jake Paul, Mike Tyson fight breaks record for biggest boxing gate outside of Las Vegas
▼ + stars: | 2024-11-15 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

(L-R) Mike Tyson, Nakisa Bidarian and Jake Paul pose onstage during the Jake Paul vs. Mike Tyson Boxing match press conference at Texas Live! The highly anticipated boxing match between Jake Paul and Mike Tyson has already secured its place in the record books. That makes it the biggest boxing gate in history outside of Nevada. The fight between Paul, a 27-year-old YouTube influencer-turned-boxer and Tyson, a 58-year-old boxing legend, will air Friday at 8 p.m. … This is a statement that we had the biggest live gate outside of Vegas in U.S. boxing history."

Persons: Mike Tyson, Nakisa Bidarian, Jake Paul, Paul, Canelo Álvarez, Billy Joe Saunders, Conor McGregor, Eddie Alvarez, Tyson, Katie Taylor, Amanda Serrano, Floyd Mayweather Jr, Manny Pacquiao Organizations: Mike Tyson Boxing, Texas, CNBC, T, The Dallas Cowboys, AT, Las Vegas UFC, YouTube, Netflix, Las Vegas Locations: Arlington , Texas, Nevada, New York City, Vegas, U.S

☆ Norwegian F-35s called into action after Russian aircraft spotted off Norway and over Baltic Sea
▼ + stars: | 2024-11-15 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

AdvertisementNATO scrambled jets to respond to Russian aircraft "not adhering to international norms" this week. Italy's air force intercepted a Russian Coot-A aircraft over the Baltic Sea, NATO Air Command said. Norwegian F-35s identified multiple Russian aircraft off the coast of Norway, it added. Norwegian F-35s were called into action on Tuesday as NATO scrambled jets in response to Russian aircraft "not adhering to international norms," NATO's Air Command said in a post on X.Italy's air force intercepted a Russian Coot-A plane flying over the Baltic Sea, while the Norwegian F-35s identified multiple Russian aircraft off the coast of Norway, NATO Air Command said. In July, Russian fighter jets scrambled to intercept two US Air Force B-52H bombers approaching Russia's border, the Russian Ministry of Defense said at the time.

Persons: Henrik Omtvedt Jenssen, Jenssen, Lockheed Martin Organizations: NATO, NATO Air Command, Command, Norwegian Armed Forces, NRK, Russian, Royal Air Force, British Ministry of Defence, BBC, Typhoons, US Air Force, Russian Ministry of Defense, Lockheed, Kongsberg Defence, Aerospace Locations: Russian, Baltic, Norwegian, Norway, Russia, State, Kongsberg

☆ YouTube has added a 'gifting' feature to its vertical streams, ramping up the competition for livestream e-commerce
▼ + stars: | 2024-11-15 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +3 min

YouTube is adding a "gifting" feature for vertical livestreams that allows users to purchase digital gifts for streamers, similar to a feature that fuels livestream sales on TikTok. Related Video TikTok could be banned in US after House voteTikTok's LIVE Gifts feature operates similarly. Livestream e-commerce in the United States is expected to grow to $68 billion by 2026, according to Statista, a data research firm. AdvertisementGoogle is also looking to expand its own shopping feature. YouTube Shopping allows creators to make "collections" of products that viewers can purchase.

Persons: TikTok, ByteDance Organizations: YouTube, Google, Forbes Locations: China, TikTok, United States, livestreams, Culver City , California, Indonesia

☆ Latino mobile home park residents denounce conditions, allege discrimination
▼ + stars: | 2024-11-14 | by ( Albinson Linares | Albinson Linares Is A Reporter For Noticias Telemundo Based In Mexico City. | ) www.nbcnews.com time to read: +13 min

The sewage is exposed to the air and causes a lot of nausea and headaches,” said Veronica Isabel Dahlberg, executive director of HOLA Ohio, a nonprofit group assisting Latino state residents, which has advised mobile home park residents who sued. It is very expensive,” said Yvonne Maldonado, a co-director of Manufactured Housing Action, a nonprofit group that focuses on such communities. “We have recently seen private equity enter the manufactured housing market," PESP housing research coordinator Madeline Bankson said. During hurricanes, the National Weather Service has said, 72% of deaths occur in homes, and of those, 54% occur in mobile homes. She also urged mobile home park residents to organize their communities and if there are complaints, to do it as a group, which is more effective.

Persons: Mariano Jacobo Piñón, ”, Vicente Hernández, Ricardo Rodríguez, Veronica Isabel Dahlberg, Mariano Jacobo Piñón's, ” Rodríguez, Melissa Solomon, Jones, Patrick J, Condon, Yvonne Maldonado, Maldonado, Ana Eugenia Báez, Báez, Andrea Chiriboga, Flor, Ascentia, Marko Vukovich, ” Vukovich, Esther Sullivan, Eva Marie Uzcategui, Madeline Bankson, Fannie Mae, Freddie Mac, Jeanne Shaheen, Richard Blumenthal, John Fetterman, ” Shaheen, Banks, Juan Pablo Garnham, Garnham Organizations: Fairgrounds United, Perry Mobile Home, Noticias Telemundo, Jones Estates Fairgrounds, Jones Estates Perry LLC, Jones Estates, Department of Housing, Urban, Survey, Residents, People Center, Foxridge, Colorado Mobile, Private, University of Colorado, Home Parks, The Washington, Getty, Prosperity, Federal Housing Administration, “, Telemundo, Princeton, National Weather Service Locations: Lake County , Ohio, Mexico, Ohio, Hernández, Lake County, Mobile, U.S, New York, Colorado, Foxridge, Arapahoe County , Colorado, Denver, Sarasota , Fla, Sens

☆ Disney gives investors years to cheer about
▼ + stars: | 2024-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Disney did something extraordinary Thursday, giving investors a rare three-year financial outlook, even at a time of economic uncertainty. Shares of Disney (DIS) are exploding higher – up 10% just after the market open Thursday. And it forecast profits from streaming will rise another $875 million in the new fiscal year, helping to lift results. Legacy media companies such as Disney that have gotten into streaming in the last five years have struggled to make the business profitable as they sought to catch up with Netflix, which had been the only profitable streaming service until recently. Disney needs to have improved results from streaming as its cable and broadcast network business continues to suffer from a combination of ad sales declines an cord cutting by consumers.

Persons: New York CNN —, segement Organizations: New, New York CNN, New York CNN — Disney, Disney, Netflix, Pixar Locations: New York

☆ Polymarket CEO Shayne Coplan attacks Biden and Harris after FBI raid
▼ + stars: | 2024-11-14 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

The FBI raided Polymarket CEO Shayne Coplan's home on Wednesday, a company spokesperson said. A company spokesperson told Business Insider the raid took place at Shayne Coplan's Manhattan home Wednesday morning, without elaborating. Related Video Why Sam Bankman-Fried is facing up to 110 years in prisonSoon after the raid, Coplan, 26, posted on X: "New phone, who dis?" The Polymarket spokesperson said the raid was an act of "political retribution" by the Biden administration against a "fully transparent prediction market." AdvertisementA Biden administration spokesperson did not respond to a request for comment.

Persons: Shayne Coplan's, Polymarket, —, Donald Trump's, Sam Bankman, Chainalysis, Coplan, CNBC's, Peter Thiel's, Vitalik Buterin, Joe Biden, Kamala Harris, Elon, Trump, Biden Organizations: FBI, Bloomberg, Service, Polymarket, Shayne Coplan's Manhattan, Department of Justice, Futures Trading Commission, Traders, Trump, Fund, Apple Locations: Coplan, France, American

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods

☆ Stocks making the biggest moves midday: Tapestry, Capri, Disney and more
▼ + stars: | 2024-11-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Disney — The media stock popped 6% on stronger-than-expected earnings and guidance, aided by growth in its streaming business. Capri , Tapestry — Both luxury apparel stocks rose after the companies called off their planned merger , citing regulatory hurdles. Cisco Systems — The cybersecurity stock fell 2.1%. Ibotta said it expects fourth-quarter revenue to range between $100 million and $106 million, versus a FactSet estimate of $110.3 million. CNH Industrial — Shares rose more than 6% after Greenlight Capital's David Einhorn revealed at CNBC's Delivering Alpha conference that he took a medium-sized position in the agricultural equipment company.

Persons: Charles Schwab —, Charles Schwab, Ancora, Campbell, Piper Sandler, Ibotta, Greenlight Capital's David Einhorn, —, Jesse Pound, Pia Singh, Alex Harring, Hakyung Kim, Sean Conlon Organizations: Disney, Amazon, ASML, Cisco Systems, Wall, Revenue, Norfolk Southern, American Airlines —, Barclays, Alpha, Advance Locations: Capri

☆ Advance Auto Parts is closing more than 700 locations
▼ + stars: | 2024-11-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Advance Auto Parts is closing more than 700 locations to shore up the company’s finances following another dismal earnings report. The car parts retailer, which has about 5,000 stores, said Thursday that the closures are part of its “strategic plan to improve business performance.” Advance Auto Parts (AAP) shares slid nearly 5% in premarket trading after it reported earnings that missed analysts’ expectations. The reduction will result in closing roughly 500 corporate-owned stores plus about 200 independently operated locations. The company did not immediately provide a full list of locations set to close. It recently sold Worldpac, an automotive parts wholesaler, for $1.5 billion as part of “simplification” of its business model.

Persons: — Organizations: New, New York CNN, Parts, Advance, Research, Companies, Consumers Locations: New York

☆ Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
▼ + stars: | 2024-11-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Analysts responded positively to the news, pointing to a potential "turning point" for the embattled brand. The plans were delivered alongside Burberry's 2024 interim results, which saw sales fall 20% for the second consecutive quarter. A 'turning point' for embattled BurberryThe underperformance comes amid a wider slowdown in the luxury sector, with the personal luxury goods market set to contract 2% this year. Mamta Valechha, consumer discretionary analyst at Quilter Cheviot, described it as a "turning point in what has been a very difficult period." Pedestrians walk past the window display of the store of British fashion label Burberry, in central London, on September 2, 2024.

Persons: Kevin Lee, Schulman, Joshua Schulman, Michael Kors, Burberry, Burberry Schulman, Burberry's, Piral Dadhania, Dadhania, Mamta, Cheviot, Henry Nicholls Organizations: Getty, Burberry, RBC Capital Markets, Afp Locations: Shanghai, London

☆ Capri and Tapestry abandon plans to merge, citing regulatory hurdles
▼ + stars: | 2024-11-14 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Capri and Tapestry called off their merger on Thursday after the Federal Trade Commission successfully sued to block the megadeal. "With the termination of the merger agreement, we are now focusing on the future of Capri and our three iconic luxury houses," Capri CEO John Idol said in a statement. In April, the FTC sued to block the deal, saying the tie-up would disadvantage consumers and reduce benefits for the companies' employees. Tapestry plans to fund the stock repurchase through a combination of cash on hand and debt. Tapestry said it will reimburse Capri around $45 million.

Persons: John Idol, Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Tapestry, Joanne Crevoiserat Organizations: Federal Trade Commission, FTC, Capri Locations: U.S

On the day after the election, Nov. 6, X experienced its largest user exodus since Elon Musk bought the platform in 2022. NBC News spoke to six people who have joined or committed to using Threads and Bluesky in place of X after the election because of Musk. In the past five days, Wurtz said people she used to follow on X have started to trickle over to Threads. “I have a private personal account for friends and family and a public account for Taylor Swift, so nobody drowns in my Taylor Swift content,” Polo said. Currently, X users can go to the site’s settings and opt out.

Persons: Elon Musk, Don Lemon, Donald Trump, Musk, Kara Wurtz, Louis, ” Wurtz, “, I’m, Wurtz, Wurtz isn’t, Adam Mosseri, Bluesky, ”, Mosseri, David Carr, X, Polo, Swifties, Taylor Swift, ” Polo, Elon, Rory Mir, ” Mir, José Vilson, “ I’m, ” Laura Sell, Sell, “ It’s, Micah Lee, Dr, Jorge Caballero, ” Caballero, it’s Organizations: Elon, Guardian, NBC, Trump, Twitter, NBC News, Bluesky, Electronic Frontier Foundation, Duke University Press Locations: Similarweb, United States, Canada, Bluesky

Inflation is drifting down in fits and starts, and so are restaurant menu prices. Diners are more likely to notice stabilizing menu prices at quick-service restaurants than at sit-down ones. But the rate at which all eateries changed their menu prices between the second and third quarters this year plummeted by 26%, the company said. Quick-service restaurants have benefited from slower growth in labor costs, Square found. The company estimates annual inflation faced by quick-service operators at 3.6% as of September, versus 4.3% for restaurants with table service.

Persons: ”, Kelly Esten, Ara Kharazian, Donald Trump, Joe Brusuelas, Trump Organizations: National Restaurant Association, “, Lightspeed Commerce, Wine Trade Alliance, RSM

☆ AI startup CoreWeave closes $650 million secondary share sale, with Cisco joining as investor
▼ + stars: | 2024-11-13 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

CoreWeave, a startup that rents out Nvidia's artificial intelligence chips to other companies, said Wednesday that it closed a $650 million secondary share sale, with Cisco and Pure Storage investing alongside financial institutions. Bloomberg reported last month that CoreWeave was targeting a $23 billion valuation for the deal, up from $19 billion in a $1.1 billion investment round announced in May. CoreWeave is going head-to-head with large cloud infrastructure providers, such as Amazon and Google in providing Nvidia's graphics processing units, or GPUs, to companies for AI workloads. The following month Nvidia said its H200 GPUs had become available through CoreWeave, meaning the startup was the first cloud provider to reach general availability with the graphics cards. In addition to Cisco and Pure, investment firms including BlackRock , Coatue and Fidelity participated in CoreWeave's secondary sale.

Persons: CoreWeave, OpenAI's ChatGPT, Mike Intrator, CNBC's Organizations: Cisco, Bloomberg, Google, Nvidia, Microsoft, Investors, Core, Fidelity Locations: BlackRock, Coatue

☆ X rival Bluesky gains 1.25 million users following U.S. election
▼ + stars: | 2024-11-13 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this photo illustration, the Bluesky Social logo is displayed on a cell phone in Rio de Janeiro, Brazil, on September 4, 2024. Micro-blogging startup Bluesky has gained over 1.25 million new users in the past week, indicating some social media users are changing their habits following the U.S. presidential election. "We're excited to welcome everyone looking for a better social media experience," Bluesky CEO Jay Graber told CNBC in a statement. Meta CEO Mark Zuckerberg in October said Threads had nearly 275 million monthly users. Musk in May claimed that X had 600 million monthly users, but market intelligence firm Sensor Tower pegged X's monthly base at 318 million users in October.

Persons: Elon Musk, Jay Graber, Mark Zuckerberg, Jack Dorsey, Bluesky, Dorsey, Donald Trump Organizations: U.S, Elon, CNBC, Journalists, Trump, Brazilian Supreme Court Locations: Rio de Janeiro, Brazil, U.S, Canada, United Kingdom, Seattle

☆ Bluesky’s user base has doubled in the past 90 days. Is it a mass exodus from X?
▼ + stars: | 2024-11-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

Bluesky’s user base has doubled in the past 90 days — on Tuesday the company said it had gained 1 million new sign-ups in the past week alone, bringing it to more than 15 million total users. “X usage is at an all-time high and continues to surge,” X CEO Linda Yaccarino said in a post Wednesday. Bluesky also saw daily visits jump on Election Day and the day after to 1.2 million and 1.3 million, respectively, up from around 800,000 in the days before. On Bluesky, daily users more than doubled from-mid October to the post-election week. In the run-up to the election, Musk spread false and misleading claims about Trump’s competitor, Vice President Kamala Harris.

Persons: Bluesky rocketed, Elon, Musk, Donald Trump, Charlie Warzel, New York Times ’ Mara Gay, Don Lemon, X, White supremacists, Linda Yaccarino, “, Similarweb, Bluesky, ” David Carr, we’ve, Ed Zitron, EZPR, Zitron, Mike Isaac, ”, Trump, MAGA, Kamala Harris, Vivek Ramaswamy, Vladimir Zelensky, Musk’s Starlink, That’s, – CNN’s Liam Reilly, Matt Egan Organizations: New, New York CNN, Apple, New York Times, CNN, Guardian, ” New York Times, Trump, Twitter, “ Department, Government Locations: New York, anecdotally, Bluesky, ”, Russia

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