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Search resuls for: "Big Tech"


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The AI revolution is "the biggest platform shift since electricity" and, as such, will bring investment opportunities in smaller tech firms that are climbing ever nearer to the Big Tech behemoths, according to one U.K.-based fund manager. Many of those tech firms she says are ripe for investment work on AI applications, which the fund manager describes as an emerging club of high-value firms, and one of a number of different layers growing within the wider AI industry. "This year we've been really focused on the AI infrastructure layer of this new technology stack," she said. "So, the Broadcom 's, the Amphenol 's, the Arista 's of this world, these are all really crucial components to scale this AI infrastructure. Nvidia has been the primary beneficiary of the ongoing artificial intelligence boom, with its next-generation AI chip Blackwell now in focus.
Persons: Clare Pleydell, CNBC's Arjun Kharpal, Bouverie, you've, It's, Steve Jobs, Blackwell Organizations: Big Tech, Liontrust Asset Management, Apple, Meta, Microsoft, Nvidia, Tesla, Materials, Broadcom, Arista
Tech previews their Trump 2.0 playbook
  + stars: | 2024-12-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTech previews their Trump 2.0 playbookCNBC's Deirdre Bosa joins 'The Exchange' to report on Big Tech's donations to Donald Trump's inauguration and how it could be a preview of the relationship under the president-elect's new term.
Persons: Deirdre Bosa, Donald Trump's Organizations: Tech, Trump, Big
Sydney Reuters —Australia plans new rules to “create a financial incentive” for big tech firms to pay Australian media companies for news content on their platforms, Assistant Treasurer and Minister for Financial Services Stephen Jones announced on Thursday. The move, described as a “news bargaining initiative,” piles pressure on global tech giants like Facebook-owner Meta Platforms and Google to pay publishers for content or face the risk of paying millions to continue operations in Australia. The platforms at risk of the charge will be significant social media platforms and search engines with an Australian-based revenue in excess of 250 million Australian dollars (about $160 million), he said. The charge will be offset for any commercial agreements that are voluntarily entered into between the platforms and news media businesses, he added. Australia in 2021 passed laws to make the US tech giants, such as Alphabet’s Google and Meta, compensate media companies for the links that drive readers - and advertising revenue - to their platforms.
Persons: Financial Services Stephen Jones, ” Jones, Jones, Meta Organizations: Sydney Reuters, Financial Services, Facebook, Meta, Google, News Corp, Australian Broadcasting Corp Locations: Australia, Australian
Ferguson will likely be friendlier to mergers than the current chair, but keep targeting Big Tech. AdvertisementThe effort was apparently successful, as Trump announced on Tuesday evening that the 38-year-old lawyer will lead the FTC. Yet the current and future FTC leaders share a commitment to going after Big Tech, though come at the issue from different angles. "Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country," Trump said in a post on Truth Social announcing his selection. Ferguson thanked Trump with his own post on X, vowing to "end Big Tech's vendetta against competition and free speech."
Persons: Trump, Andrew Ferguson, Ferguson, He's, Donald Trump, Lina Khan's, Khan, Andrew, Mark Meador, Meador, Clarence Thomas, Mitch McConnell, Paring, he's, Kitty Hawk, Ferguson doesn't Organizations: Republican, Big Tech, Federal Trade Commission, Trump, Truth Social, FTC, University of Virginia, Supreme Court, Elon Musk's, Punchbowl, Vivek Ramaswamy's Department, Government, Federal Aviation Act, Amazon, Meta, Kroger, Albertsons, Truth
President-elect Donald Trump 's picks for top regulators may not lead to a total free-for-all of corporate dealmaking, but they should be more than enough to unleash the pent-up demand for mergers and acquisitions, according to Morgan Stanley. "New Trump appointments at FTC and DOJ likely come with a more traditional, lighter touch antitrust framework. This should drive up animal spirits and improve corporate clarity in an M & A environment where market conditions are already supportive for activity," Kenny said. Clarity could be a key buzzword in the coming months, as some of the antitrust actions brought under current FTC Chair Lina Khan were novel and scared off other potential deals, Kenny said. Those companies should get a piece of the M & A action, regardless of what sector sees the most activity.
Persons: Donald Trump, Morgan Stanley, Ryan Kenny, Trump, Andrew Ferguson, Gail Slater, Biden, Kenny, Lina Khan, Ferguson, Kenny's, Goldman Sachs Organizations: Federal Trade Commission, Wall, Trump, FTC, DOJ, Big Tech
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Look: World's Highest Grade Uranium Mine Supplies 11% of Global Demand. CNBC's Pippa Stevens with an inside look of the West's largest uranium mine, Cigar Lake in Northern Saskatchewan. This mine supplies about 11% of the global annual uranium demand and uses innovative techniques to extract high-grade uranium. As the demand for clean energy rises, especially from big tech companies like Microsoft and NVIDIA, the importance of such mines continues to grow. With geopolitical tensions increasing, these mines are becoming even more crucial.
Persons: Pippa Stevens Organizations: Microsoft, NVIDIA Locations: Northern Saskatchewan
President-elect Donald Trump told CNBC's Jim Cramer on Thursday the stock market is "going to see a lot of good days ahead." Jim interviewed Trump on the floor of the New York Stock Exchange moments after the president-elect rang the opening bell. In their wide-ranging discussion, Trump said the performance of the stock market is "very important" to him. Here are seven key moments from Jim's Trump interview: Jim : What would you say to the American investor? Trump : "The stock market, all of it together, is very important."
Persons: Donald Trump, CNBC's Jim Cramer, Jim, Trump, Elon Musk, Jim's Trump, we'll, Mark Zuckerberg's, Jeff Bezos, Jim Cramer, he's Organizations: New York Stock, Trump, Dow, Nasdaq, SpaceX, Elon, NYSE, RFK Locations: USA, China, U.S
No one wants to own cable TV networks anymore
  + stars: | 2024-12-12 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +3 min
If so, consider that the people who own cable TV networks seem increasingly uninterested in hanging on to them. That's the real story behind WBD's corporate maneuvering Thursday — to make a cable TV spin-off or sale much more likely. Comcast is ditching its cable TV networks. That's because Comcast's spun-off cable TV operation will want to find other cable TV networks to add to its collection, so it can increase negotiating power. (Just Thursday, Google said it was hiking the price of its YouTube TV cable bundle by 14%.)
Persons: WBD, WBD execs, Comcast's, Donald Trump's, David Zaslav Organizations: Comcast, Warner Bros, TNT, Food Network, Trump, Big Tech, Big Media, Google, YouTube Locations: Big
Calendly laid off around 70 employees in its engineering, customer experience, marketing, and billing teams. BI obtained a copy of CEO Tope Awotona's memo announcing the cuts to staff on Wednesday morning. Calendly previously laid off 60 employees in July 2023 and was valued at $3 billion in 2021. Scheduling platform Calendly laid off around 70 employees — about 13% of its workforce — on Wednesday. This is Awotona's memo sent to employees, shared with BI by two employees:Hi Team I am reaching out this morning to share some difficult news.
Persons: Calendly, Tope, Tope Awotona, Awotona, We've, we've, Jyoti Mann Organizations: Business, Big Tech, Google, Microsoft, Billing, People Team Locations: jyotimann
Analysts have hiked price targets on these 5 stocks ahead of earnings next month A large number of Wall Street analysts have turned bullish on five stocks ahead of their quarterly earnings reports. Costco Since early November the retailer's share price has risen by more than 13%, blowing past analyst price targets. Over the past seven days, 15 analysts have raised their price target further, indicating their long-term bullish view of the company. However, some have cautioned around the near-term share price performance, especially after the company's earnings scheduled on Thursday evening. The investment bank's price target of $1075 points to 8.2% upside over the next 12 months.
Persons: CNBC's Jim Cramer, Nicholas Jones, AMZN Organizations: Wall Street, Costco, Synchrony Financial, CNBC Pro, Big Tech, Amazon Locations: U.S
Discovery is splitting its linear TV business from streaming and studios. Comcast last month also spun off its cable networks — except Bravo — into a stand-alone company. The moves illustrate a cable business in decline, with both repositioning for M&A opportunities. Discovery is separating its linear television business from its streaming business and film studios. AdvertisementA new Global Linear Networks division will house TV properties like the Discovery Channel and CNN, while the Streaming & Studios side will be the home of Max and movie studio Warner Bros. Motion Picture Group.
Persons: WBD, Max, David Zaslav Organizations: Warner Bros, Comcast, Bravo, WBD, Networks, Discovery Channel, CNN, Studios, Scripps Networks, Big Tech, HBO, Industry, Paramount Global
Amazon plans to donate $1 million to Donald Trump's inauguration, according to WSJ. Meta also confirmed that it will be donating $1 million to Trump's inaugural fund. Jeff Bezos' Amazon plans to donate $1 million to Donald Trump's inauguration, following Wednesday's news that Mark Zuckerberg's Meta made the same contribution, The Wall Street Journal reported. The donations would mark a shift in the relationship between tech leaders and Trump, who had previously been critical of Big Tech bosses. AdvertisementSpokespeople for Amazon and Trump did not respond to a request for comment.
Persons: Donald Trump's, Meta, Jeff Bezos, Zuckerberg's Meta, Trump, Zuckerberg, elect's, Sundar Pichai, ″ Mark Zuckerberg's, Elon, CNBC's Jim Cramer Organizations: Trump, Street Journal, Wednesday, Big Tech, The, Amazon
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. A major reason for the uptick in tech, according to Jim Cramer, is there is "no longer an existential crisis at the FTC." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.
Persons: Jim Cramer, Stocks, Jim, Donald Trump's, Andrew Ferguson, Apple, Eli Lilly, Ro, Lilly, Myers, Jim Cramer's Organizations: CNBC, Nasdaq, FTC, Biden, Broadcom, Club, Bristol, GE Vernova, Boeing, General Motors, Kroger, Albertsons
Jim Cramer talks what is behind the Magnificent 7 rally
  + stars: | 2024-12-11 | by ( Jim Cramer | ) 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 EmailJim Cramer talks what is behind the Magnificent 7 rally'Mad Money' host Jim Cramer looks at Big Tech's record day and talks what is behind the move higher.
Persons: Jim Cramer
Nasdaq closes above 20,000, Big Tech names hit record highs
  + stars: | 2024-12-11 | 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 EmailNasdaq closes above 20,000, Big Tech names hit record highsBrooke May, Evans May Wealth, and Kevin Gordon, Charles Schwab, join 'Closing Bell Overtime' to talk the day's record market action.
Persons: Brooke, Evans, Kevin Gordon, Charles Schwab Organizations: Nasdaq, Big Tech
CNBC's Jim Cramer reviewed Wednesday's record-breaking tech rally, suggesting that the promise of looser government regulations, as well as innovative business, is driving stocks like the Magnificent Seven higher. "They've done well, and now with the antitrust regulators out of their hair, I expect even better returns," he said. The biggest names in tech, especially the Magnificent Seven — Nvidia , Alphabet , Amazon , Meta , Microsoft , Apple and Tesla — led the index higher, Cramer said. But Cramer said he is "of two minds" about the situation, conceding that he understands why some believe these companies are too powerful. This dynamic could become a problem in the future, he continued, but stressed that the Magnificent Seven "are dominant because they're extraordinary" and gave them accolades for their products and profits.
Persons: CNBC's Jim Cramer, Tesla —, Cramer, Donald Trump's, Joe Biden's, Lina Khan, Khan, Republican Andrew Ferguson Organizations: Nasdaq, Nvidia, Meta, Microsoft, Apple, Big Tech, Federal Trade, Republican
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Fast Money' traders talk Big Tech moving the market to record highsThe 'Fast Money' traders talk today's big market moves and what is behind it.
Organizations: Big Tech
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailToday's rally was celebration of pro-corporate regulator, says Jim Cramer'Mad Money' host Jim Cramer looks at Big Tech's record day and talks what is behind the move higher.
Persons: Jim Cramer
Health insurance companies, by contrast, don't appear to spend as much on executive protection. That level of monitoring can be expensive, and the amount companies pay for executive security varies widely. Health insurance companies, including UnitedHealth Group, don't appear to spend as much on executive protection as some of the Big Tech giants. That amount represented $14,850 in 401(k) matching and $6,337 in health insurance premiums, with no amount indicated for personal security. Samuel Corum/GettyFilings show Tesla paid a Musk-owned personal security company $2.4 million to protect him in 2023.
Persons: Mark Zuckerberg, Elon, Brian Thompson, Alphabet's Sundar Pichai, Salesforce's Marc Benioff, JPMorgan Chase's Jamie Dimon, Andy Jassy, Tim Cook, perk, Doug McMillon, Chris Kempczinski, UnitedHealth, Thompson, Andrew, Paul Squire, Karen Lynch, David Cordani, Joseph LaSorsa, isn't, John Orloff, Jensen Hughes, Orloff, Samuel Corum, Tesla, , Zuckerberg Organizations: JPMorgan, UnitedHealth, Big Tech, Walmart, New York City Police Department, CVS, Aetna, Humana, Kaiser Permanente, Service, LaSorsa, Associates, Secret Service, Capitol, Getty, Twitter Locations: New York, Manhattan, Kaiser, Delaware
Investors looking for the next big technology trend may want to keep an eye on quantum computing stocks. A qubit, or quantum bit, is a unit used to encode data in such computers. The breakthrough from Google lifted other quantum computing stocks , including little-known contender Rigetti Computing . Quantum computing is no new phenomenon, but it is gaining importance as larger and larger swaths of data are processed to train large language models. EMJ Capital's Eric Jackson called it the "next big theme" in a post on social media platform X, saying that he's long Rigetti Computing and sees a "big opportunity" ahead for the company.
Persons: Capital's Eric Jackson, Management's Paul Meeks Organizations: Google, Rigetti, Nvidia
The billionaire owners of the Nets and Liberty are hatching a media brand rooted in Brooklyn culture. BSE Global plans to launch a new brand in early 2025, focusing on the "zeitgeist of Brooklyn." A trio of billionaires is looking to turn "Brooklyn" into a media brand in the vein of the youth and pop-culture outlet Complex. BSE plans to launch the new global media brand in early 2025 with a focus on "capturing and sharing the zeitgeist of Brooklyn," spokesperson Sheerin Salimi confirmed to Business Insider. "They're trying to be like the voice of Brooklyn," a second person with direct knowledge of BSE's plans said.
Persons: Sheerin Salimi, Joe Tsai, Clara Wu Tsai, Julia Koch, Koch, megadonor David Koch, Salimi, Breanna Stewart, Rob Kim, Brooklyn, Sam Zussman, Rich Antoniello, Marc Ecko, BuzzFeed, DeJuan Wilson, Bryan Bedder, Wilson, who's, Complex's, Stefan Breskin, Zion Olojede, Erika Turner, Lucas Wisenthal, Vox, Ellie Organizations: Nets, Liberty, BSE, New, BSE Global, Brooklyn Nets, Brooklyn Nets , New, Brooklyn Nets , New York Liberty, Barclays Center —, Business, BI, Barclays Center, Brooklyn, Brooklyn Magazine, IMG, longtime, BuzzFeed, NTWRK, Endeavor, Nike, Aia Adriano, Digital, Big Tech, New York Times, Vox Media's, York, BSE's New York Liberty, NBA's Brooklyn Nets, There's YES, New York Yankees, Network, New York Knicks Locations: Brooklyn, New York, Brooklyn Nets ,, Brooklyn Nets , New York, New York City, BSE's, Liberty
Marc Benioff said some of its rivals are in "a race to the bottom" with "excessive" AI spending. AdvertisementSalesforce's CEO says the company isn't spending as lavishly on AI as some of its tech peers — and he isn't worried about falling behind. Instead, Marc Benioff says the company will capitalize on the vast AI spending gap between it and some of its competitors and avoid a "race to the bottom." Benioff said some of Salesforce's competitors were "excessive" with their AI spending and "it's becoming a race to the bottom for some of these companies." He also highlighted that some have invested in nuclear energy and nuclear power plants.
Persons: Salesforce, Marc Benioff, , Kara Swisher, Einstein, it's, Benioff, Kairos Power, Meta, Aravind Srinivas Organizations: Amazon Web Services, Google, Meta, Microsoft, Kairos Locations: Stanford
AdvertisementThis as-told-to essay is based on a conversation with Stephen Wu, a 29-year-old hedge fund manager from New York. It was a good mix of my passion for music and engineering, but eventually, I left Amazon for Microsoft and then left tech to start a hedge fund with about 80 investors. I raised almost $10 million from friends, family, high-net-worth individuals, influencers, and others in the hedge fund space that first year. I left Microsoft in April 2023 to work on the hedge fund full-time. I aim to grow this to a $100 to $200 million fund in the next few years.
Persons: Stephen Wu, It's, Alexa, Taylor Swift, Manseen Logan Organizations: Amazon, Microsoft, Carnegie Mellon, Amazon Alexa, Big Tech, NASDAQ Locations: New York, Seattle, mlogan
Related Video How tech layoffs could affect the economyIn today's newsletter, the $13 billion Omnicom-IPG megamerger reflects a new era as Big Tech and AI upend the ad industry. OmnicomIt's already been a big week for the ad industry. For ad industry insiders, the proposed takeover reflects an ad sector under threat from Big Tech and AI , writes Business Insider's Lara O'Reilly. AdvertisementPrivate equity has been circling the ad industry, too. Industry insiders have speculated for months that WPP could be taken private — or at least some parts of it could be.
Persons: Luigi Mangione, Brian Thompson, Mangione, John Wren, IPG Philippe Krakowsky, Wren, Omnicom It's, Publicis, Snoop Dogg, it's, Insider's Lara O'Reilly, creatives, Simon Francis, Lara, William Ritchie, Blackstone, Chelsea Jia Feng, Jane Fraser, Aaron Neyer, Sylvia Duran, Camila Ferraz, Jenny Chang, Rodriguez, , Jimmy Donaldson, Rupert Murdoch Getty, Rupert Murdoch, Rupert, Lachlan, Murdoch, they've, Elon Musk, Sundar Pichai, Benjamin Netanyahu, Janet Yellen, Hallam Bullock, Grace Lett, Ella Hopkins, Amanda Yen, Lisa Ryan, New York Milan Sehmbi Organizations: Business, Ivy League, Big Tech, Monday, Omnicom, Interpublic, Groupe, WPP, Flock Associates, WY Partners, Apollo, KKR, Industry, Getty, Nvidia, Microsoft, Amazon, Citi, Google, PowerPoint, Elon, Wall Street, Summit Locations: Pennsylvania, Paris, China, bitcoin, MrBeast City, California, Jerusalem, Stockholm, Sweden, London, Chicago, New York
At the heart of this transformation are companies like Adobe , which helped lay the groundwork for Silicon Slopes' rise. The tech-cluster has created fertile ground for other startups to grow in the Silicon Slopes ecosystem. "That was a seminal moment in the history of Silicon Slopes," he said. The city's leaders and entrepreneurs hope that the snowball effect will continue to roll down Silicon Slopes. "We're very proud of that sort of pioneer heritage that we have, particularly in building what is now the Silicon Slopes ecosystem," Sherman said.
Persons: Adobe SVP Wade Sherman, CNBC's Carl Quintanilla, Wade Sherman, Adobe's, Sherman, Brad Rencher, CNBC Rencher, Rencher, it's, It's, Catherine Wong, Entrata, , Wong, haven't, Todd Pedersen, Adobe, Pedersen, " Pedersen Organizations: Adobe, Adobe SVP, CNBC, Oracle, Microsoft, Salt Lake, Blackstone Locations: Lake City, CNBC's, Salt, Lehi, Salt Lake City, Lehi , Utah, Silicon, Draper, Orem, Provo, Adobe's, Utah, Silicon Valley, North America, Silver
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