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If you spend a lot of time at home, that can be difficult without an air conditioner — that's why this incredible deal on the Black+Decker Portable Air Conditioner is so worth it. View at AmazonIn our guide to the best portable air conditioner, we love this model for its versatility year-round. EcoFlow Wave 2 Portable Air Conditioner $1,199.00 $2,237.00 Save 46% The EcoFlow Wave 2 is the best battery-powered portable air conditioner we've tested. View at AmazonFrigidaire Inverter Window Room Air Conditioner (FHWW145WE1) $566.00 $629.00 Save 10% The Frigidaire Inverter Window Room Air Conditioner (FHWW145WE1) is the best air conditioner for large rooms, decreasing our sizable test room by four degrees in an hour and featuring an easy setup. View at AbtFriedrich Zoneaire Portable Air Conditioner (ZCP12DB) $779.00 $889.00 Save 12% The dual-hose Friedrich Zoneaire Portable Air Conditioner did the best job cooling and was the quietest portable air conditioner we tested.

Persons: It's, Abt Friedrich, Friedrich Organizations: Business, EcoFlow, Energy, Abt, Madison, Amazon Prime Locations: Midwest, Northeast

☆ Here are Rosenblatt's best AI and tech ideas for the second half
▼ + stars: | 2024-06-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rosenblatt is laying out its top artificial intelligence pick heading into the second half of 2024. Here are some of the firm's top picks going into the second half of the year, as AI shows no signs of a slowdown: Rosenblatt named Advanced Micro Devices among its top picks. MU YTD mountain Micron shares this year Shares of Micron have rallied 58% this year but slumped 7% on Thursday after the memory chipmaker shared in-line guidance . Analyst Barton Crockett highlighted Apple as a stock to follow in the second half. The firm also named CrowdStrike , Five9 and Autodesk among its picks for the second half.

Persons: Rosenblatt, Hans Mosesmann, Mosesmann, Barton Crockett, Crockett Organizations: Nvidia, Micro Computer, Devices, AMD, Micron Technology, AI, MU, Micron, Apple, Autodesk Locations: Thursday's, hyperscalers

Amazon will double the value of credits it offers some startups to use its cloud infrastructure, CNBC has learned, as the company faces heightened competition from Microsoft in artificial intelligence services. Seed-stage startups will still be eligible for $100,000 in credits, AWS said. But Microsoft Azure and Google Cloud are growing more quickly, and are benefiting from rapidly advancing AI models. During Selipsky's time at the helm, Microsoft and Google increased their share of the cloud infrastructure market. Participants will be able to access up to $1 million in cloud credits, according to the website.

Persons: Matt Garman, Garman, Garman's, OpenAI, Anthropic, Adam Selipsky, Grant, Amazon's, Rohit Prasad, David Luan Organizations: Amazon Web, CNBC, Microsoft, AWS, Google, Gemini Locations: Las Vegas, Silicon, Silicon Valley

To help you browse the best ones going on now, I've rounded up the best 4th of July sales below. The best 4th of July electronics and appliances sales Appliances and electronics are notorious for their hefty price tags, which makes sales like these priceless. In time for the warming weather, I'm seeing some great price drops on air conditioner picks from our guides to the best portable air conditioners and the best air conditioner units. Burrow The best 4th of July home and kitchen dealsIt's a good time to buy furniture, whether you're shopping for indoor or outdoor pieces. SaatvaThe best 4th of July mattress dealsMattresses are on sale most of the year, it's true.

Persons: it's, We'll, BioLite, Abt Friedrich, Friedrich, AJ, AJ Madison Traeger, TCL, Rumpl, Kit, Burrow, Lauren Savoie, Hannah Freedman, Cha, they're, you'll Organizations: Business, Ikea's, Steam, LG, GE, Amazon Prime, Abt, eBay, Energy, AJ Madison, Independence, Samsung, Apple AirPods, Apple, Amazon, GE Gaming, Day, tote Locations: Burrow, Kyusu, Cha Kyusu, Brooklyn, Lo

CNN —Bolivia has arrested more than a dozen high-ranking military and intelligence officials following a failed attempt to unseat the country’s president in a coup allegedly led by its former army chief. All three men are among 17 people arrested so far in connection with Wednesday’s events – most of them members of the military, the report says. Other top officials arrested include military intelligence chief Julio Buitrago. As he was being arrested Zúñiga alleged – without providing evidence – that he was acting on Arce’s instructions. The investigation into Wednesday’s events will continue until all “participants” in the coup are identified, according to the Bolivian government report.

Persons: Juan Jose Zúñiga, Juan Arnez, Julio Buitrago, Jorge Bernal, Zúñiga –, Luis Arce –, Zúñiga, Arce, Ivan Lima, Zúñiga’s, “, Aizar Raldes, Edmundo Novillo, Evo Morales Organizations: CNN, Military, Plaza Murillo, Bolivian, Getty, Air Force Locations: Bolivia, Bolivian, American, Quemado, La Paz, AFP, La Paz , Bolivia

☆ 4 Missouri Prison Guards Charged With Murder in Death of a Black Prisoner
▼ + stars: | 2024-06-28 | by ( Aimee Ortiz | ) www.nytimes.com time to read: +1 min

Four Missouri prison guards were charged with murder on Friday and a fifth with involuntary manslaughter for their roles in the death of a Black man who died last year after they pepper sprayed him, covered his face with a mask and left him in a restraint chair, the authorities said. The man, Othel Moore Jr., 38, died of positional asphyxiation on Dec. 8 at the Jefferson City Correctional Center, according to court records, which list homicide as the cause of death. The episode that led to Mr. Moore’s death occurred during a sweep by the Missouri Department of Corrections Emergency Response Team of one of the prison’s housing units that was being searched for contraband, according to court records. Mr. Moore was searched and stripped down to his boxer shorts, and staff members used pepper spray on him multiple times and placed him in a restraint system with a spit mask, which is supposed to prevent spit from hitting others, and a padded helmet, records show. He was then taken to a different housing unit, where he was left in a cell with the spit mask, helmet and restraint system.

Persons: Othel Moore, Moore’s, Moore Organizations: Jefferson City Correctional Center, Missouri Department of Corrections Locations: Missouri, Jefferson

☆ The world’s biggest capital cities are heating up – and Asia tops the charts
▼ + stars: | 2024-06-27 | by ( Lex Harvey | ) edition.cnn.com time to read: +6 min

Beijing Meteorological Observatory issued the first yellow alert for high temperatures in 2024, with the highest temperature in the city reaching 35 degrees Celsius. New Delhi topped the list of hottest cities, recording 4,222 days above 35 degrees Celsius in the past three decades – more than any other city analyzed. In 2018, Seoul saw 21 days over 35 degrees Celsius — more than the previous 10 years combined. Beijing’s number of days over 35 degrees has increased by 309% since 1994. In October 2023, Jakarta experienced 30 consecutive days over 35 degrees Celsius — more days than during the entire period between 1994 and 2003.

Persons: –, ”, Tucker Landesman, there’s, “ We’ve, Kalyani Saha, “, Anthony Wallace, CNN he’d, Sagar, Young, Parveen Kumar Organizations: Hong Kong CNN, International Institute for Environment, Development, Egypt’s, “, Palace Museum, Beijing Meteorological Observatory, CNN, Getty, NGO Centre, Health Development India, Hindustan Times, Dartmouth Locations: Hong Kong, Asia, Buenos Aires, Argentina, Paris, Egypt’s Cairo, Beijing, China, Southeast Asia, India, New Delhi, Delhi, Lajpat Nagar, South East Delhi, Seoul, AFP, Jakarta, South Korea, rehydrate, Gurugram

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Micron slidesShares of Micron fell almost 8% in extended trading on Wednesday as its revenue forecast failed to top analysts' expectations. The stock rose 3.9% on Wednesday.

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

And they were everywhere, although, naturally, New York City was a magnet, as it has always been for L.G.B.T.Q.+ people looking for a place in which they can be themselves. New York City was where you lost your soul, and we wanted to be closer to the earth. I wore an eight-and-a-half-foot-tall Statue of Liberty costume to the Easter Parade in New York City, and Kirsten came along with me. By the time I turned 30, I’d been telling people I was older for years, because I’m not the type to bemoan the loss of my youth. Going to New York felt like this moment of emerging to a wider audience, and then I started to travel a lot.

Persons: André De Shields, Lady Bunny, Michael R, Jackson, Juliana Huxtable, Wong, J.D, Samson, Pat Oleszko, it’s, —, John Rechy, ”, Danez Smith, Trump, he’d, “, Jenna Lyons, Avram Finkelstein, Joe Mantello, …, Catherine Opie, you’re, Willie Norris, “ I’d, It’s, you’ve, ” — Mark Harris Read, De Shields, Justin French, Chuck Ashley, Anthony Cotsifas, William F, Robert O’Hara’s, Hermes, — Max Berlinger Jenna Lyons, Antonio Lopez, Jenna Lyons’s, Grace Jones ”, Juan Ramos, Antonio Lopez’s, Grace Jones, Tina Chow, Marisa Berenson, Pam Anderson, That’s, — Jason Chen Jayne County, Jayne County, Gus Stewart, Billy Idol, Wayne County, — M.B, Bill T, Jones, Arnie, Arnie Zane, Zane, Keith Haring, Lois Greenfield, Jack Mitchell, Peggy Jarrell Kaplan, Gertrude Stein, Alice B, we’d, Bill, Arnie ”, I’m, — Juan, Norris, Yael Malka, Tomas Abad, West, Black, I’d, — Colleen Hamilton B.D, New York’s Eugene, . Wong, David Henry Hwang’s, Richie, wasn’t, Wayne Barker, — John Wogan Edmund White, Edmund White, Horatio, Leonard Fink’s “, Barbara Confino, Leonard Fink, Joseph Rodriguez, Bleecker, You’d, Gosh, Michael Snyder Pat Oleszko, Chichi, Kirsten, who’d, she’d, — C.H, Brian Michael Smith, Gay, Smith, Kiki Ball, Josue Infante, Skyler Cruz, Jamison, — J.A.R, Agnes Denes’s “, Don Yowell, Finkelstein, Agnes Denes, Leslie Tonkonow, Don, Agnes Denes’s, JD Samson, Sia, Mark Hunter, Anthony Cotsifas I’d, Johanna Fateman, Tigre, Michael O’Neill, Obama, might’ve, — Kate Guadagnino Kristen Kish, Kish, Suzanne Kreiter, David Moir, Bravo, isn’t, — J.W, Stephen Spinella, Mantello, Joan Marcus, Photofest, Tony Kushner’s, Louis Ironson, Milton Glaser, he’s, David, Marshall Grant, Joe Pitt, Walter, Awards, Stephen, ” —, Freedia, Devon Hurst, Sissy Nobby, Barack Obama’s, Lyle Ashton Harris, Big, Bounce, ” — M.B, Thom Browne, Browne, Los Angeles’s Chateau Marmont, Malcolm Venville, Paul Fortune, Michèle Lamy —, — J.C, Catherine Opie’s “, Opie, Ian, Lehmann Maupin, Eileen Myles, Jenny Shimizu, I’ve, Nicole Acheampong Danez Smith, Juan Cordero, ” Womp, They’d, hookups, Who’s, We’ve, You’re, J.A.R, Linda Simpson, India, Little Louie Vega, who’s, — K.G, Alexander Chee, Alexander Chee’s, Marguerite Duras’s “, Jeongneung, King Jungjong, Eric McNatt, Chris Chee, — M.S, Sam Jay, Jay, Jonah, Kumail ”, hadn’t, K.G, Phillip Lim, Lim, Tourmaline, Sylvia Rivera, Luce Capco Lincoln, York’s, We’d, Marsha P, John Cameron Mitchell, Larry Kramer, Mitchell’s, Mitchell, Martha Swope, Billy Rose, Mark Tusk, ” Kramer’s, Larry, Ned Weeks, Ned, “ Hedwig, J.W, Joerg Lohse, Reena, there’s, Matt Bomer, Bomer, Simon Halls, Neal Caffrey, Tony Kushner, Terrence McNally —, — I’d, Hollywood, Wu Tsang, Neil Rasmus, Wildness, ’, Wildness ”, Roxane Gay, Mueller, Brandon Williams, Donna Gottschalk, Donna Gottschalk’s “, Duchess, Galerie Marcelle Alix, goddamn, Coco Romack Michael R, Aaron Kinney, Nova, “ I’m, Bob Damron’s, Sgt, Shirley, Waldorf, Harold’s, Jean ] Genet, Marcel, Proust Organizations: Pride, Stonewall, West, America’s, ACT UP, San, Playwrights Horizons, Odeon, New York’s TriBeCa, Electric, Getty, Police, Billy, New York Live Arts, Keith Haring Foundation, BAM Hamm, Liberation, Brooklyn Liberation, Brooklyn Museum, Fort, New York’s, New York’s Eugene O’Neill Theatre, Broadway, Equity, LGBT Community Center, Fulbright, Mudd, New, Bisexual, Transgender Community, Center, Transgender Community Center, “, Maxwell, Museum School, Farmers, Seattle, Boston Globe, Travel, New York Times, Rancho Mirage, Gay, Caesar’s, FEMA, Yale, York’s Webster Hall, Masters, Records, Pyramid, Work, ACT, Carpenters, Seymour, Edinburgh, Atlanta —, Ninja, Huntington, New York, Lesbian, Equal, Billy Rose Theatre Division, The New York Public Library, The New York Times, USA, Children’s Hospital of Los, MoMA, Whitney Biennial, University of Nebraska, Alamy, HarperCollins, of Engineering, Google, Division, Astor, Tilden Foundations, Pershing, University of Southern, Pershing Square Locations: New York, Berlin, “, America, San Francisco, Baltimore, New York’s, New York City, California, Atlanta, Europe, Wayne County, Dortmund, Germany, London, Amsterdam, Rotterdam, Rockland County, N.Y, ’, I’m, Brooklyn, West Dakota, Fort Greene, New, Leonard Fink’s “ Bars, Street, Rome, —, Aspen, Colo, Copenhagen, Danish, Peru, Los Angeles, Agnes Denes’s “ Wheatfield, Downtown Manhattan, North Moore, TriBeCa, Hoboken, N.J, Lower Manhattan, Manhattan, Boston, Williamsburg , Brooklyn, Vinnie’s, Bedford, Austin , Texas, Copley, Menton, Asian American, York, New Orleans, Houston, Los Angeles’s, L.A, Hong Kong, Seoul, Casa, Koreatown, Minneapolis, Grindr, East, India, Wigstock, Tompkins, Vershire, Chee, Iowa, Huntington Beach, Chelsea, Barneys, Madison, Miami, New York State, Washington, The, LA, Silver Lake, Missouri, Children’s Hospital of Los Angeles, Zurich, Central, American, Westlake, Los Angeles and New York, Lincoln, Alphabet City , New York, Lenox, United States, University of Southern California, Downtown Los Angeles

☆ Troops and armored vehicles disperse as Bolivia arrests army chief leading coup attempt
▼ + stars: | 2024-06-27 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +5 min

"The country is today facing an attempted coup d'etat," Arce said, according to a CNBC translation. All of the units," Zuniga said during the military movement, according to a CNBC translation. Asked whether the coup forces were seeking to take over the Bolivian presidential residence, the general confirmed "yes." "Spain strongly condemns the military movements in Bolivia," Spain's Prime Minister Pedro Sanchez said on social media platform X, according to a CNBC translation. he said on social media, according to a CNBC translation.

Persons: Luis Arce Catacora, Juan Jose Zuniga, Luis Arce, " Arce, Maria Nela Prada, Jose Wilson Sanchez, Edmundo Novillo, Zuniga, Ivan Lima, Eduardo del Castillo, Juan Arnez Salvador, Zuniga —, Evo Morales —, Josep Borrell, Pedro Sanchez, Arce Organizations: Murillo, Bolivian, CNBC, de Murillo, Soldiers, Associated Press, Defense, Government, U.S, Monetary Fund, European Union, South Locations: Bolivia, La Paz, Spain, Venezuela, Paraguay, Cuba, Chile, Bolivian

☆ CNBC Daily Open: Amazon enters $2 trillion club
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury rose as investors parse comments from Fed officials and await key inflation data due Friday. $2,000,000,000,000Amazon's market capitalization surpassed $2 trillion for the first time on Wednesday, joining the ranks of tech giants like Apple and Microsoft. YouTube dominanceAlphabet's YouTube, the pioneer of user-generated content, continues to dominate media consumption, now accounting for nearly 10% of all TV viewership in the U.S.

Persons: Annie Palmer, Elliott Management, Sanjay Mehrotra, Rich Greenfield, Piper Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Apple, Microsoft, Southwest Airlines, Delta, Micron, YouTube, Nielsen, Netflix, Media, Disney, Warner Bros Locations: Shein, U.S

☆ Rivian investor day focuses on cost reductions, efficiencies and next-generation EVs
▼ + stars: | 2024-06-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Shares of the company remain off by roughly 40% this year amid significant cash burn and slowdown in EV sales. Rivian on Thursday reconfirmed its 2024 guidance that included production of 57,000 vehicles and a path to positive gross profit during the fourth quarter, including regulatory credits. It also outlined longer-term growths, such as plans to achieve positive adjusted earnings before interest, taxes, depreciation and amortization in 2027. Volkswagen is expected to use Rivian's electrical architecture and software stack for vehicles beginning in the second half of the decade, Scaringe said Tuesday. A provided image of Oliver Blume, CEO of Volkswagen Group and RJ Scaringe, founder and CEO of Rivian, as the companies announce joint venture plans on June 25, 2024.

Persons: RJ Scaringe, Rivian, Scaringe, Oliver Blume Organizations: Rivian Automotive, Volkswagen Group, Volkswagen

☆ Retail traders came out in force to buy the recent dip in AI darling Nvidia
▼ + stars: | 2024-06-27 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Retailer traders took Nvidia' s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility. The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. JPMorgan estimated that retail investors are up 179% trading Nvidia this year, topping the stock's year-to-date performance. Meanwhile, other megacap tech stocks fared poorly among individual investors last week, JPMorgan said. Advanced Micro Devices saw net sales of $163 million, Microsoft had a net drawdown of $158 million and Tesla $122 million.

Persons: Jensen Huang, Nvidia's Organizations: Nvidia, JPMorgan, Microsoft, Google, Oracle, Meta Locations: U.S

☆ U.S. chip curbs in Middle East just 'business as usual,' Ooredoo CEO says after Nvidia deal
▼ + stars: | 2024-06-26 | by ( Emma Graham | ) www.cnbc.com time to read: +4 min

Washington does allow the export of some Nvidia chips to the region, and Nvidia, AMD and Intel have all indicated plans to create less powerful chips for export to the Chinese market. Ooredoo earlier this week signed a partnership with Nvidia , marking the chipmaker's first large-scale entry into the Middle East market. Qatari telecoms provider Ooredoo told CNBC Wednesday that its new tie-up with Nvidia is compliant of all U.S. regulations and will still allow it to have access to the latest technology. Ooredoo told CNBC that the deal is compliant of all U.S. regulations. Ooredoo also committed to investing $1 billion to boost its regional data center capacity even before announcing its partnership with Nvidia.

Persons: Ooredoo, Aziz Aluthman Fakhroo, CNBC's Dan Murphy Organizations: Nvidia, AMD, Intel, United, Ooredoo, CNBC, United Arab Emirates, Microsoft, Qatar Investment Authority Locations: United States, China, Qatar, Kuwait, Oman, Algeria, Tunisia, Maldives, Qatari, Washington, Abu Dhabi

☆ Bolivia’s president calls on country to mobilize against ‘coup d’état’ after military surrounds government buildings
▼ + stars: | 2024-06-26 | by ( Tara John | Abel Alvarado | ) edition.cnn.com time to read: +2 min

CNN —Bolivia’s President Luis Arce called on the country to “organize and mobilize against the coup d’état, in favor of democracy” as soldiers and armored military vehicles positioned themselves around governmental buildings in La Paz on Wednesday. “We cannot allow coup attempts to take Bolivian lives once again. It is unclear why military units are in Murillo Plaza and how many there are. Paraguay’s President Santiago Peña stressed that democracy and the rule of law be respected, in a statement on X. According to state media agency ABI, the military mobilization began around 2:30 p.m. local time.

Persons: CNN —, Luis Arce, ”, “, ” Arce, Evo Morales, ” Morales, ” Bolivia’s, David Choquehuanca, Santiago Peña, Luis Almagro, Josep Borrell Organizations: CNN, Murillo Plaza, Associated Press, Movement, Socialism, Bolivia ”, Wednesday, International, Paraguay’s, Organization of American States, Bolivian, ABI Locations: La Paz, Casa Grande ., Murillo, Bolivia

☆ North Korean troops will become 'cannon fodder' if they aid Russia in Ukraine, Pentagon says
▼ + stars: | 2024-06-26 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +1 min

North Korean soldiers sent to aid Russia in Ukraine would be "cannon fodder," the Pentagon said. The two nations signed a new security pact, and some Korean units look set to go to Ukraine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNorth Korean troops that are sent to Ukraine to aid in Russia's war would become "cannon fodder," the Pentagon said. Pentagon Press Secretary Maj. Gen. Pat Ryder said on Tuesday that "I think that if I were North Korean military personnel management, I would be questioning my choices on sending my forces to be cannon fodder in an illegal war against Ukraine."

Persons: —, Pat Ryder Organizations: Pentagon, Service, North Korean, Ukraine, Business Locations: Russia, Ukraine

☆ US new home sales plunged unexpectedly last month
▼ + stars: | 2024-06-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington CNN —Sales of newly built homes dropped last month as mortgage rates remained elevated. New home sales, which make up only about 10% of the market, fell 11.3% in May from the prior month, to 619,000, according to government data released Wednesday. That was the steepest monthly decline since September 2022 and marks the lowest level since November. Mortgage rates soared to the highest level of the year in early May and have since trended down. “Persistently high mortgage rates are keeping many prospective buyers on the sidelines,” NAHB chairman Carl Harris said in a release.

Persons: That’s, “, ”, Carl Harris Organizations: Washington CNN —, Federal, National Association of Home Builders, Housing, “ Locations: Wells Fargo

☆ What Rivian's venture with Volkswagen means for the EV maker, broader auto industry
▼ + stars: | 2024-06-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Rivian 's latest partnership with Volkswagen could prove a major boon for investors and the broader auto industry, according to some Wall Street analysts. As part of the plan, Volkswagen will inject $1 billion, followed by an additional $4 billion investment planned by 2026. RIVN 1D mountain Shares pop on Volkswagen venture But Wall Street views the deal as a potential turnaround opportunity that can help limit execution risks and uncertainties surrounding funding that have spooked investors in recent months. Big wins for the auto industry While the venture justifies Rivian's strategy, some on Wall Street anticipate potential big wins for the broader auto industry. He added that the venture also highlights the need for proprietary electronic control units and software.

Persons: Rivian, John Murphy, Ryan Brinkman, Dan Levy, Levy, Wells, Colin Langan, Morgan Stanley's Adam Jonas, Jonas, Tesla, Piper Sandler, Alexander Potter, America's Murphy Organizations: Volkswagen, Bank of America, JPMorgan, Barclays, Bank, Lucid Group Locations: China

☆ Nvidia's moat will be tested by a potential AI chip IPO
▼ + stars: | 2024-06-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Cerebras Systems, a startup trying to challenge Nvidia on the AI chip battlefield, is reportedly headed for an IPO toward the end of 2024. This is one of the primary elements holding back even some AWS customers from using Amazon's AI chips. But, most AI developers must go through gnarly work to change their software if they want to change their hardware. His startup Vimaan is building tech for a future "dark warehouse" that requires no humans to operate. Advertisement"Am I gonna take a chance to switch out a whole infrastructure that we've built on the Nvidia platform?"

Persons: —, Lior Susan, Susan, CUDA, Thomvest, they're, He's, Padval, Jensen Huang, Thomas Sohmers, Ganapathi, Vimaan, Pavdal Organizations: Service, Cerebras Systems, Nvidia, Eclipse Ventures, Business, CUDA, NVIDIA CUDA, AMD, Qualcomm, Google, Intel, UXL Foundation, Amazon's Industrial Innovation Fund Locations: CUDA

☆ Nvidia CEO Jensen Huang addresses rising competition at first shareholder meeting since stock surge
▼ + stars: | 2024-06-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Huang's comments came during the Q&A period of Nvidia's first shareholder meeting since the company's stock began to surge, after Wall Street's heightened interest in the company's dominant position in the AI chip market. Since last year's meeting, the company has been on a historic run: Nvidia's stock is up 193%, its shares split 10-1, the company passed a $3 trillion valuation and it briefly reached the status of most valuable company in the U.S. The first question Huang answered Wednesday was about the company's competition, as traditional chipmakers and startups alike release products intended to challenge Nvidia's more than 80% market share in AI chips. Nvidia shareholders were pleased with the company's performance and approved a nonbinding vote on executive compensation called "say on pay." Nvidia executives are paid in a combination of salary and various kinds of restricted stock units.

Persons: Jensen Huang, Huang's, Wall, Huang Organizations: Nvidia, U.S, NVIDIA

☆ Micron shares slide after revenue forecast fails to top estimates
▼ + stars: | 2024-06-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Micron shares fell about 3% in extended trading on Wednesday as investors looked past better-than-expected results and focused instead on a revenue forecast that was in line with estimates. Analysts were expecting earnings per share of $1.05 on revenue of $7.6 billion. Micron CEO Sanjay Mehrotra highlighted the company's AI business in a statement while saying that its smartphone and PC markets remain sluggish. On a call with analysts, Micron said that its high bandwidth memory, the kind used in AI chips, is sold out through 2025. "We believe that Micron will be one of the biggest beneficiaries in the semiconductor industry in the multiyear growth opportunity driven by AI," Mehrotra said.

Persons: Sanjay Mehrota, Sanjay Mehrotra, Mehrotra Organizations: Micron Technology, Micron Locations: Davos, Switzerland

☆ NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive.
▼ + stars: | 2024-06-26 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Read previewLast September, New York City began enforcing its strict new regulations on short-term rentals. Since then, the number of legal short-term rentals listed on Airbnb and other platforms has plummeted. Impacts of the near-banLL18 was motivated by the city's housing affordability crisis, caused in large part by a severe housing shortage. Short-term rentals, including Airbnbs, can take homes that would otherwise be lived in full-time off the market, potentially exacerbating the housing shortage. But there's some evidence, including from Irvine, California, that restricting short-term rentals can reduce rents.

Persons: —, it's, Jamie Lane, Lane, hasn't, Klossner, LL18, Eric Adams, TIMOTHY A, CLARY, Scott Stringer, Airbnb, It's, Nathan Rotman Organizations: Service, Business, Mayor's, Criminal, Special, York City, Hotel, Former, Big Apple, New Locations: New York City, New, York, Irvine , California, New York

☆ Amazon can keep its record run going due to a major catalyst — and it's not the cloud
▼ + stars: | 2024-06-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

BofA called out the importance of Amazon's retail margin because it has generated more estimated outperformance than its cloud business Amazon Web Services (AWS). Add on same-day delivery, Jim asked, rhetorically, "Why would you go to the store on the way home when it's at your home." Fifty-one percent of respondents, a survey record, said they opted for Amazon's same-day delivery option. Based on these results, Evercore believes Prime same-day delivery is a "multiplier to purchase frequency and overall spend." The latest Wall Street analysis and thoughts from Jim support the idea of further room for Amazon stock to run higher.

Persons: BofA, Amazon's, Andy Jassy, Jassy, Jim, Evercore, Jim Cramer's, Jim Cramer, Michael M Organizations: U.S, Bank of America, United Parcel Service, FedEx, Web Services, Amazon, Walgreens, Logistics, Adobe Analytics, Club, CNBC, Santiago, Getty Locations: U.S, New York City

☆ Your Ford pickup could be one of the half million trucks being recalled for suddenly shifting gears
▼ + stars: | 2024-06-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

Ford has issued a recall notice for over 550,000 of its 2014 model F-150 pickup trucks in the US. The recall came after users complained that the trucks would suddenly drop to first gear. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementFord has issued a recall for half a million of its F-150 pickup trucks after receiving hundreds of complaints that they suddenly downshifted to first gear.

Persons: Ford, —, downshifted Organizations: Service, National, Traffic Safety Administration

Artificial intelligence is set to give the global data center market a major boost, according to Jefferies, and usher in a "new era of electricity demand." "As GPUs [graphics processing units] have become a larger part of the data center ecosystem and drive AI investments, demand for power and data center space has grown at a feverish pace," the investment bank's analysts wrote in a June 18 note. They noted that demand for data center space has increased between 10% and 20% each year for most of the past 15 years. As the data center market grows, so will demand for electricity, Jefferies said, naming a slew of beneficiaries in these segments and beyond. Among the "pure-play data center" names it likes are Digital Realty Trust and Equinix .

Persons: Jefferies, Stocks, — CNBC's Michael Bloom Organizations: Digital Realty Trust Locations: U.S, Europe, Freeport, McMoRan

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