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For investors looking for other ways to play the theme, Trivariate Research found some high-quality names that could see a boost. "The direction of the stock market hinges on their guidance," strategists at Trivariate Research said in a note. Trivariate Research identified a slew of high-quality companies that have high mentions of AI this year. The list included Big Tech names Microsoft, Alphabet and Meta . Meta shares have been on fire this year, more than doubling in that time.
Persons: CNBC's Michael Bloom Organizations: Nvidia, Trivariate Research, Big Tech, Microsoft, Meta
Its debut will be a big deal for an IPO market that's been in the doldrums since 2022, but the company's listing has big implications for SoftBank as well. SoftBank agreed to acquire Arm in 2016 for $32 billion, which at the time was the biggest-ever purchase of a European technology company. The unit also swung to a 9.5 billion yen loss, having made a profit of 29.8 billion yen in the same period a year earlier. SoftBank said its Vision Fund booked an investment gain of 159.8 billion yen, its first gain in five consecutive quarters. In July, the company led a $65 million investment in U.K. insurance technology company Tractable.
Persons: Son, Tomohiro Ohsumi, SoftBank, It's, Rene Haas, Haas, Nvidia SoftBank, Arm, Grace Hopper, Didi, Uber, Yoshimitsu Goto, Leswing Organizations: SoftBank Group Corp, ARM Holdings, Bloomberg, Getty, Apple, reining, Acorn Computers, Acorn, Machines, VLSI Technology, CNBC, ARM, Nvidia, Vision, Investors, AMD, Vision Fund Locations: Tokyo, Cambridge, England, Switzerland, European, Europe, U.S, London, New York
Cramer's Lightning Round: Hold DraftKings
  + stars: | 2023-08-17 | by ( Julie Coleman | ) www.cnbc.com   time to read: +3 min
Stock Chart Icon Stock chart icon Salesforce's year-to-date stock performance. Stock Chart Icon Stock chart icon SoFi's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon DraftKings' year-to-date stock performance. Stock Chart Icon Stock chart icon GE HealthCare's year-to-date stock performance.
Persons: we'll, I'm, It's, Anthony Noto, we're, they're, Let's, DraftKings, I've, it's, James Quincey's, Coke, Jim Cramer's Organizations: Charitable Trust, American Airlines, GE, GE HealthCare
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: The only airline I'm recommending right now is Delta, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Salesforce, SoFi, American Airlines, UiPath, Apple, DraftKings and more.
Persons: Jim Cramer Organizations: American Airlines, Apple Locations: Delta
Shares of Molten Ventures, a venture capital fund focused on technology, could rise by more than 180%, according to Berenberg. Berenberg said Molten is currently trading at a 67% discount to its last-reported net asset value (NAV). This should, in turn, result in a substantial increase in Molten's share price. Aujla's note said that most of this decrease occurred in the first half of the year when the gross portfolio value (GPV) declined by 17% due to falling valuations. However, the analyst pointed out that Molten's investment strategy should provide protection against significant portfolio value decreases.
Persons: Draper Espirit, Berenberg, Kurran, Goodbody's Gerry Nennigan, Peel Hunt Organizations: Molten Ventures, British, Nasdaq, Numis Securities Locations: Berenberg . London, U.S
Despite a bloated pipeline of companies waiting to go public and a rebound in tech stocks that pushed the Nasdaq up 30% in the first half of 2023, the IPO drought continues. Last Friday, Israeli beauty and tech company Oddity, which runs the Il Makiage and Spoiled Child brands, filed to go public on the Nasdaq. "You can make 15%-20% in the stock market but lose 15%-20%." "I think that’s done some harm to the traditional IPO market." With the public market still pretty closed, they're asking for alternatives."
Persons: Karl, Josef Hildenbrand, Turo, Reddit, hasn't, aren't, Lise Buyer, Buyer, Goldman Sachs, May, Shannon Stapleton, Jake Dollarhide, Dollarhide, Airbnb, they've, Instacart, Byron Deeter, Deeter, Larry Aschebrook, Aschebrook Organizations: AFP, Getty, Nasdaq, V, New York Stock Exchange, Apple, Nvidia, Coinbase Global Inc, Reuters Bankers, CNBC, Federal Reserve, Longbow Asset Management, Facebook, Clover Health, Venture, Companies, Bessemer Venture Partners, doesn't, Employees, Spotify Locations: U.S, Portola Valley , California, Cava, New York, Pinterest
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Dominion Energy is a little to risky for me, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Dominion Energy, UiPath, Rayonier, RadNet and Pioneer.
Persons: Jim Cramer Organizations: Dominion Energy
Stock Chart Icon Stock chart icon Dominion Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon Rayonier's year-to-date stock performance. Stock Chart Icon Stock chart icon Radnet's year-to-date stock performance. Stock Chart Icon Stock chart icon Pioneer Natural Resources' year-to-date stock performance.
Persons: I've, it's Organizations: Dominion, Dominion Energy, American Electric, Resources, Natural, CNBC
Two firms specializing in artificial intelligence — UiPath and Twilio — are being underappreciated by investors, according to Frank Downing of Ark Investments. UiPath, a business process automation firm, is one of the companies that Downing views as overlooked. ARKW 1Y line He thinks this could mean fewer manual human interventions, substantially improving efficiency at UiPath for its customers. PATH 1Y line Twilio Twilio, a cloud communications platform founded in 2008, was also flagged by Downing as a potentially undervalued stock. Still, the director of research believes companies such as Twilio and UiPath are likely to capture the next wave of growth as AI is increasingly commoditized.
Persons: Frank Downing, Downing, OpenAI, ChatGPT . Downing, Siti Panigrahi, TWLO Organizations: Ark Investments, Mizuho, Microsoft, Google Locations: ChatGPT .
Check out the companies making some of the biggest moves in premarket trading:ChargePoint — Shares of the electric vehicle charging station company jumped 5% premarket after Bank of America upgraded the stock to buy. Tesla — Shares gained 3% premarket. Last Thursday, Tesla and Ford announced a partnership giving Ford owners access to Tesla Superchargers. Coinbase — Shares gained 4% in premarket trading. Nvidia — Shares continued to near $1 trillion in market value, up 3.7% in premarket trading.
Visitors at the Nvidia stand at the 2022 Apsara Conference in Hangzhou, China, Nov 3, 2022. Nvidia — Shares of the chipmaker and artificial intelligence beneficiary popped nearly 6%, building on its recent gains on the heels of a blowout quarter. Tesla — Shares gained 6% following a Reuters report a private jet used by CEO Elon Musk arrived in China, his first visit in three years. ChargePoint — Shares rose nearly 11%. Devon Energy , Diamondback , Chevron , ExxonMobil — Energy stocks were under pressure Tuesday as prices for oil and natural gas slid.
Stealth AI startup Orby recently closed a $4.5 million seed round led by NEA and Pear VC. The scramble into AI startups continues apace as NEA and Pear VC lead a $4.5 million seed investment into stealth startup Orby, which seeks to leverage the power of surveillance to automate away life's most tedious tasks. It identifies wasted energy and inefficiencies, repetitive tasks that can be automated and handed off to the computer. They say Orby can identify this repetition and write code to automate it. Eventually, they say, Orby may start to know your job better than you do, and find solutions you never thought of.
Google Cloud CEO Thomas Kurian, right, arrives on stage as Alphabet CEO Sundar Pichai exits during the Google Cloud Next event in San Francisco on April 9, 2019. Earlier this week, Alphabet said Google's cloud unit generated $191 million in operating profit, after losing a total of $4 billion in 2021 and 2022. Under Kurian's predecessor, VMware co-founder Diane Greene, critics said Google's cloud business hadn't matured enough to handle enterprises even as it was investing heavily to do so. The cloud division includes the Google Cloud Platform, which competes with Amazon Web Services and Microsoft Azure, and the Google Workspace productivity software bundle that goes head-to-head with Microsoft Office. Google Cloud technology chief Will Grannis said Kurian's commitment to improving the division's offerings was evident right away.
Investors searching for hyper-growth exposure should turn to artificial intelligence-focused stocks, according to Adam Parker, founder and CEO of Trivariate Research. "This could have a massive implication on humankind and the stock market," he wrote. The year-to-date performance of the basket has been stronger than the growth universe excluding AI, Parker noted. Here are the top 10 names with the most AI references. Meanwhile, Alphabet unveiled its AI chatbot, Bard, at an event the day after Microsoft touted its AI technologies, earlier this year.
London-based ElevenLabs is set to raise $18 million after securing a $2 million round in January. ElevenLabs, a hot artificial intelligence startup, is set to raise $18 million at a $100 million valuation, months after announcing its $2 million pre-seed round in January. ElevenLabs synthesizes speech "that takes context into account and conveys it accordingly," Staniszewski told Insider in January after the firm announced its pre-seed round. The pre-seed round was led by Czech-based early-stage venture capital firm Credo Ventures, which has previously backed UiPath and Apiary. Check out the 14-slide deck ElevenLabs used to raise its pre-seed funding.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUiPath's technology can aid customer navigating digital disruptions, says UiPath's Robert EnslinUiPath Co-CEO Robert Enslin joins 'Closing Bell Overtime' to discuss benefits of A.I. implementations, reducing inefficiencies with A.I., and the need for A.I. guardrails and security.
A16z is among a raft of top-tier funds battling to invest in a tiny British AI startup, sources say. London-based ElevenLabs closed a $2 million pre-seed round two months ago but is set to raise again. The deal is testament to the hype that surrounds AI startups following the release of ChatGPT last year. Andreessen Horowitz is among a raft of top-tier investors fighting to lead a round into a tiny AI startup that will value it at around $100 million as investor hype around the technology intensifies, sources say. Now, the startup is set to raise new funds again, in part due to its rapid growth in revenue, three London-based investors said.
Here are Thursday's biggest calls on Wall Street: JPMorgan reiterates Amazon as overweight JPMorgan said growth deceleration concerns are overdone. Stifel upgrades FedEx to buy from hold Stifel said FedEx shares are compelling at current levels. JPMorgan reiterates Credit Suisse as overweight JPMorgan said it's standing by shares of the banking giant. JPMorgan upgrades Motorola Solutions to overweight from neutral JPMorgan called the telecom equipment company "high quality." Bank of America upgrades Takeda Pharmaceuticals to buy from neutral Bank of America said called Takeda a "stable value stock."
A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023. First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. UiPath — The stock surged 17.5% after the automation software company reported fourth-quarter adjusted earnings per share of 15 cents, beating the StreetAccount estimate of 6 cents per share. Adobe — The software maker saw its stock jump nearly 5% after the company reported fiscal first-quarter results that topped Wall Street estimates. The Wall Street firm said the stock has fallen to levels that are attractive.
Check out the companies making the biggest moves in premarket trading:Credit Suisse — U.S.-listed shares of Credit Suisse gained nearly 6% after the Swiss bank said it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Occidental Petroleum — Shares rose nearly 1% after Warren Buffett's Berkshire Hathaway bought another 7.9 million shares, totaling $466.7 million. Baidu — U.S. listed shares of Baidu sank nearly 6% after the Chinese tech company unveiled its ChatGPT alternative, Ernie bot. PagerDuty — Shares rallied nearly 6% after the digital operations management platform's earnings and revenue topped estimates for the fourth quarter. Adjusted earnings per share came in at 8 cents per share, versus the 2 cents expected, per Refinitiv.
Credit Suisse — Credit Suisse shares rallied almost 7% after a statement from the Swiss Financial Market Supervisory Authority and the Swiss National Bank said that the bank is currently well capitalized. Shares tumbled 13.9% during Wednesday's trading session after Credit Suisse's largest investor, Saudi National Bank, said that it could not provide the Swiss bank with any further financial assistance. The company reported adjusted earnings of $3.80 per share and revenue of $4.66 billion. Five Below reported revenue that topped Wall Street's expectations, according to Refinitiv, and earnings were in-line with estimates. PagerDuty — The digital operations management platform's stock gained 3% after reporting an earnings and revenue beat for the fourth quarter.
Lightning Round: Intuit is a really superior company
  + stars: | 2023-03-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Intuit is a really superior companyMad Money host Jim Cramer weighs in on various stocks, including MP Materials, Cryoport, UiPath, Fisker, Intuit, Figs and Cheniere Energy.
Romania's prime minister has invited an AI bot to assist the government as an "honorary advisor." The bot described itself as a "mirror" for the Romanian people in a demonstration, per The Guardian. Ciucă introduced the bot on Wednesday, hailing it as a world first, according to a video shared by local media. Developed by local researchers, the technology uses artificial intelligence to "quickly and automatically capture the opinions and desires" of Romanian citizens, Ciucă said, per Politico. The website for Ion crashed shortly after the launch but has since been restored, local outlet Romanian Insider reported.
CapitalG partner Laela Sturdy is on track to be one of the year's biggest investors. Alphabet's growth stage venture arm, CapitalG, has named Laela Sturdy its new leader. The move means CapitalG will be one of the few venture firms to be led by a female partner. Generally speaking, CapitalG invests a lot like other growth-stage firms, but with only one limited partner as an investor -- its parent company, Alphabet. "I would say the value Laela has provided has been significantly higher than the money anyone's provided″ Duolingo CEO Luis Von Ahn told CNBC at the time.
In an email to employees announcing layoffs, PagerDuty's CEO quoted Martin Luther King Jr.People on Twitter quickly criticized her use of a quote from the noted civil rights activist. In paragraphs before mentioning the layoffs, Tejada referenced the uncertainty of macroeconomic conditions and said the company is changing its current operating mode. Tom Gara, a technology communications manager at Meta, said on Twitter that Tejada's email was an "all time classic bad layoff announcement." Although King is largely remembered for his civil rights activism, he was also a proponent of unions and workers' rights. Tejada, who became CEO of the San Francisco-based company in 2016, has referenced King before.
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