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☆ Google employees pressure costumed execs at all-hands meeting for clarity on cost cuts
▼ + stars: | 2024-11-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Alphabet executives, donning Halloween costumes, faced questions from concerned employees at an all-hands meeting on Wednesday, following comments on the company's earnings call suggesting that more cost cuts are coming. "There is a reality to it," said Brian Ong, vice president of Google recruiting, according to a recording of the meeting reviewed by CNBC. Ashkenazi said one of her key priorities in the new role would be to make more cuts as Google expands its spending on artificial intelligence infrastructure in 2025. Google has been restructuring its workforce to move more quickly in the AI arms race, where it faces increased competition. Within Google, employees have expressed concern that the company is preparing for more layoffs, possibly after the end of the year, according to internal correspondence viewed by CNBC.

Persons: Brian Ong, Ong, Anat Ashkenazi, Ruth Porat, Jeff Dean, Ashkenazi, Reggie Miller, Sundar Pichai, That's Organizations: Google, CNBC, Indiana Pacers, Amazon Locations: Silicon Valley

☆ Apple to buy Pixelmator, the iPhone image editing app with AI features
▼ + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple will buy Pixelmator, the creator of image editing apps for Apple's iPhone and Mac platforms, Pixelmator announced Friday in a blog post. Pixelmator, a Lithuanian company, was founded in 2007, and in recent years has been best known for Pixelmator and Pixelmator Pro, which compete with Adobe Photoshop. It also makes Photomator, a photo editing app. Pixelmator said in its blog post that there "will be no material changes to the Pixelmator Pro, Pixelmator for iOS, and Photomator apps at this time." In 2020, Apple bought Dark Sky, a weather app that eventually became integrated into Apple's default weather app.

Persons: Steve Jobs, Pixelmator, We've, Siri Organizations: Apple, Pixelmator, Adobe, iOS, Apple Intelligence Locations: Cupertino , California, Lithuanian

☆ Commercial real estate is flashing signs that the worst of the distress is over, Blackstone president says
▼ + stars: | 2024-11-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The worst is behind the commercial real estate sector, according to Blackstone's Jon Gray. AdvertisementThe worst of the commercial real estate turmoil looks to be over, Blackstone president Jon Gray says. Related stories"We said in January, publicly on earnings, that we thought commercial real estate was bottoming. So they're saying to themselves, 'Real estate, oh, I got all this troubled real estate. "If you were an investor in real estate after the financial crisis, you would have made a lot of money.

Persons: Blackstone's Jon Gray, there's, Blackstone, Gray, —, Jon Gray, Goldman Sachs, we've, didn't Organizations: Service, Blackstone Locations: CRE, Europe, Asia

☆ How a Trump or Harris presidency could impact the future of AI
▼ + stars: | 2024-10-31 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Business Insider spoke to five experts about what a Trump and Harris presidency would bring for AI. AdvertisementReese worked at the Department of Homeland Security during the final year of the Trump administration. "When I worked under the Trump administration, there was actually quite a bit of activity, they were very active," he said. Whether Trump or Harris wins the White House, Etzioni and Bailey said that having AI experts in the administration is crucial. Among the few upsides Bailey sees to Biden's executive order is the call to have agencies appoint AI directors.

Persons: Trump, Harris, —, Kamala Harris, Donald Trump, Darrell West, John Bailey, Biden, Taylor Swift, Trump hasn't, Joe Biden, overreach, Nicholas Reese, Bailey, Biden's, Megan Shahi, Oren Etzioni, Etzioni, Joe Biden's, Reese, they're, Shahi, — Bailey, Tony West, Uber — Harris Organizations: Big Tech, Service, White, Business, Center for Technology Innovation, Brookings Institute, American Enterprise Institute, New York University, Emerging Technology, Department of Homeland Security, Technology, Center for American Progress, Allen Institute, Republican, Security, China, Trump, National AI Research, Harris Locations: California

☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
▼ + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'

Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .

☆ I view Kamala Harris as a moderate Democrat, says former Facebook general counsel Chris Kelly
▼ + stars: | 2024-10-30 | 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 EmailI view Kamala Harris as a moderate Democrat, says former Facebook general counsel Chris KellyChris Kelly, Kelly Investments founder and former Facebook general counsel and chief privacy officer, joins 'Squawk Box' to discuss Silicon Valley's split in politics, his support for Vice President Kamala Harris,

Persons: Kamala Harris, Chris Kelly Chris Kelly, Kelly Organizations: Kelly Investments

AdvertisementFor more than a decade, Big Tech companies doled out lavish perks to hire and retain a limited supply of technical talent — and some workers pushed the limits of these benefits. AdvertisementBusiness Insider interviewed tech workers and industry experts about Grubgate and the evolving relationship between Big Tech companies and staff. They also described how layoffs, efficiency drives, and tougher policy enforcement have shifted the culture at once easygoing tech companies. According to job marketplace Trueup, at least 650,000 tech workers have been cut since the start of 2023. Alongside industrywide layoffs that began in 2022, many tech companies also trimmed back the benefits on offer.

Persons: —, Meta, grifting, that's, Allison Shrivastava, it's, Googler, Mark Zuckerberg, Zuck, Patrick Mork, Wall, Mork, Dilip Rao, he's, Bruce Daisley, Daisley Organizations: Big Tech, Service, Google, Meta, US Meta, Snap, Nintendo, Twitter, YouTube Locations: Silicon Valley, Mountain View, Tupperware, US, Meta

☆ The business leaders that Kamala Harris could recruit for her Cabinet
▼ + stars: | 2024-10-30 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Kamala Harris has many powerful business ties to assemble a potential Cabinet. Mark Cuban and her brother-in-law, Uber's Tony West, may be out of contention. AdvertisementBillionaire business leaders and Silicon Valley elites are throwing their support behind Donald Trump and Kamala Harris in ways both loud and quiet. Additionally, Harris' brother-in-law, the Uber executive Tony West, is currently on leave to assist with the campaign, but plans to return to work after the election. AdvertisementSo what business leaders could Harris ultimately tap if she prevails in November?

Persons: Kamala Harris, Mark Cuban, Uber's Tony West, Harris, —, Donald Trump, Trump, Elon Musk, Uber, Tony West Organizations: Service, Silicon, Wall, SEC, ABC

☆ Google's new CFO makes earnings call debut, says company can 'push a little further' on cost cuts
▼ + stars: | 2024-10-29 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

For nine years, the CFO role at Google and parent company Alphabet was held by Ruth Porat, who took a giant pay package in 2015 to leave Wall Street for Silicon Valley. "But I think any organization can always push a little further and I'll be looking at additional opportunities." During the Q&A portion of the call, Evercore ISI's Mark Mahaney asked, "As you're coming in looking at this fresh, is it clear to you there are a lot of newfound cost efficiencies or ongoing cost efficiencies?" The new CFO said one way Google can find additional efficiencies is by using AI "within our own processes and how we get work done." WATCH: Google search benefiting from generative AI

Persons: Ruth Porat, Porat's, Anat Ashkenazi, Sundar Pichai, Ruth, Sundar, Ashkenazi, Eli Lilly, Porat, There's, Pichai, Askenazi, Evercore, Mark Mahaney Organizations: Google, Tuesday Locations: Silicon Valley

☆ Microsoft Copilot AI use extends deep into corporate America, but companies aren’t 100% sold
▼ + stars: | 2024-10-29 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

When asked whether it's been worth the cost ( $30 monthly per user in the case of Copilot), tech leaders say they aren't sure. According to recent Deloitte research, two-thirds of organizations are increasing gen AI investments based on "strong early value to date." There are multiple reasons why companies will still be short on confidence when it comes to enterprise AI adoption, according to Deloitte. The Azure cloud offering from its biggest AI partner and AI investment, OpenAI, is in use at nearly two-thirds of companies. Forty-six percent of CNBC survey respondents said that within their organizations at least half of employees are now using AI.

Persons: it's, Jim Rowan, Anthropic, Mistral, Eric Schmidt —, Morgan Stanley, Copilot, Rowan Organizations: CNBC, Microsoft, CNBC Technology, Council, Deloitte, Microsoft Microsoft, Fortune, Capital Group, Disney, Dow, Kyndryl, Novartis, Deloitte Consulting, Meta, Silicon, OpenAI, AIs Locations: Europe

☆ Goldman Institute calls for ‘data center diplomacy’ as U.S. competes in global AI race
▼ + stars: | 2024-10-29 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

"Data may be the new oil, and it's ultimately nations, not nature, that's going to determine the future of AI infrastructure built." AI relies on massive amounts of data for training and gigantic data centers. Despite a slowing economy, Beijing has been investing in AI data centers, and launched a $6.1 billion national initiative called "Eastern Data, Western Computing." The U.S. has its own slate of initiatives, including a task force on AI infrastructure. "The Arab Gulf countries of the Middle East present many promising opportunities for AI data centers," Cohen wrote.

Persons: Goldman Sachs, Jared Cohen, Goldman, Cohen, it's, They've, Anthropic Organizations: Goldman Sachs Global Institute, CNBC, Google, Microsoft, Meta, Computing, United, United Arab Locations: China, Beijing, U.S, Canada, Australia, France, Gulf, OpenAI, United Arab Emirates, Qatar, Saudi Arabia

☆ Trump accuses Taiwan of stealing U.S. chip industry. Here's what the election could bring
▼ + stars: | 2024-10-28 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

Former President Donald Trump reiterated his frustration with Taiwan over the weekend when he appeared on "The Joe Rogan Experience" podcast and accused Taiwan of stealing America's chip industry. Trump criticized the U.S. CHIPS Act and said he would implement tariffs on chips from Taiwan if elected president. Shares of Taiwan Semiconductor closed down 4.3% on Monday. The U.S. Commerce Department funds have yet to be allocated to Taiwan Semiconductor or other major semiconductor firms. "We put up billions of dollars for rich companies to come in and borrow the money and build chip companies here.

Persons: Donald Trump, Joe Rogan, Trump, Bernstein, Stacy Rasgon, Rasgon, CC Wei, shouldn't, They're, he'll, Patrick Moorhead, Kamala Harris, it's, Biden Organizations: Taiwan Semiconductor Manufacturing Company, Nvidia, Apple, Taiwan Semiconductor, Amazon, Google, Microsoft, UBS, Intel, Samsung, U.S, CNBC, U.S . Commerce Department, CC, Funds, Mizuho, Trump, Analysts, Citi, VanEck Semiconductor, Global, Texas, China, Micron Locations: Taiwan, U.S, China, Arizona

☆ Michael Bloomberg recently gave $50 million to support Kamala Harris — but only after a pressure campaign: report
▼ + stars: | 2024-10-28 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +3 min

Michael Bloomberg donated $50 million to a nonprofit supporting Harris' campaign, per the NYT. AdvertisementMichael Bloomberg, the former New York City mayor and presidential candidate, recently donated around $50 million to a nonprofit organization supporting Vice President Kamala Harris' campaign, according to the New York Times. Though Bloomberg typically makes public campaign donations, he intended for this contribution to remain secret, the Times reported. Harris herself hopped on a call with the billionaire, and he donated the money soon after, according to the Times. Trump has amassed his own army of billionaire donors, including Elon Musk and Timothy Mellon.

Persons: Michael Bloomberg, Harris, —, Kamala Harris, Worth, Bloomberg, Reid Hoffman, Bill Gates, George Soros, Trump, Elon Musk, Timothy Mellon, Bloomberg didn't Organizations: Bloomberg, Service, New, New York City, New York Times, Times, Forbes, titans, Wall Street, Silicon, LinkedIn, Microsoft, Elon Locations: New York

☆ Elon Musk denies Washington Post report that he worked illegally in the US
▼ + stars: | 2024-10-28 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +9 min

The J-1 visa is for exchange visitors and can be used for foreign students to pursue academic training or research. Why Musk’s student status mattersMusk didn’t detail what institution sponsored his J-1 visa, or which years he had the visa. Working illegally isn’t a crime, Kuck says, but having done so would require certain steps to be taken to return to a legal immigration status. And in a 2020 podcast interview, Elon Musk said he had a “student work visa” at the time. Some of the hijackers involved in the attacks were in the U.S. on student visas, according to the official 9/11 Commission Report.

Persons: Elon, Musk, Musk hasn’t, Biden, he’d, ” Musk, he’s, “, hasn’t, authorizations, Greg Siskind, who’s, Siskind, ” Siskind, Elon Musk, Charles Mostoller, Charles Kuck, Kuck, who’d, there’s, ” Kuck, Kimbal Musk, It’s, Maye, ”, Kimbal, Hunter Swanson, Swanson, ” Swanson, ” He’s Organizations: CNN, Washington Post, University of Pennsylvania, Penn, Stanford, Engineering, Elon, SpaceX, Tesla, AP, Reuters, Twitter, Center for International Education, Washington, Lee University Locations: South Africa, Philadelphia, Atlanta, “, Palo Alto , California, Virginia, U.S

☆ Big Tech CEOs are calling up Trump, seeking to rekindle their relationship with former president ahead of Election Day
▼ + stars: | 2024-10-27 | by ( Steve Contorno | Alayna Treene | ) edition.cnn.com time to read: +8 min

The stepped-up push by some of the world’s most influential Big Tech leaders to speak with the former president ahead of Election Day comes amid an exceptionally tight race between Trump and Vice President Kamala Harris. And it’s the latest sign of the greater business community seeking to rekindle a relationship with the former president in anticipation of a potential second term. I don’t want to have him, his administration, going after us,’” a person close to Trump told CNN. “If you look at Google lately, I think you’re going to see they’ve become much more inclined towards Trump,” the former president told conservative radio host Hugh Hewitt. “Let me tell you: All of those companies will be set free, if you have the right president,” Trump said.

Persons: Donald Trump, Tim Cook chatted, Trump, Sundar Pichai, “, ” Trump, Joe Rogan’s, Andy Jassy, Mark Zuckerberg, Kamala Harris, Elon Musk, Musk, ’, Evan Vucci, Jassy, Jeff Bezos, Michael M, Zuckerberg, he’s, Joe Biden’s, ”, Hugh Hewitt, “ They’re, Cook, ” CNN’s Clare Duffy, Kate Sullivan Organizations: CNN —, Trump, Apple, Las, Google, Republican, Amazon, CNN, Meta, Big Tech, Mar, Department of Justice, Silicon, Washington Post, Getty, Associated Press, titans, Facebook, Biden’s Department of Justice, Economic, of Chicago, European Union Locations: Europe, Las Vegas, Pennsylvania, Butler , Pennsylvania, New York City, Austin , Texas, Menlo Park , California, Harris

☆ Nvidia overtakes Apple as world’s most valuable company
▼ + stars: | 2024-10-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple’s shares rose 0.4%, valuing the iPhone maker at $3.52 trillion. In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft and Apple. Shares of Nvidia, Apple and Microsoft have an outsized influence on the richly valued technology sector as well as the broader U.S. stock market, with the trio accounting for about a fifth of the S&P 500 index’s weight.

Persons: OpenAI, ”, Russ Mould, AJ Bell, ” Nvidia’s, TSMC, Rick Meckler, “ Organizations: Nvidia, Apple, Microsoft, Western Digital, ”, chipmaker, Huawei, Federal Reserve, Cherry Lane Investments Locations: United States, China, New Vernon , New Jersey

☆ Q3 Earnings: Welcome to the ‘show me the money’ quarter
▼ + stars: | 2024-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

In what some analysts are calling the “show me the money” quarter, most of the major US tech titans will report earnings during Halloween week. “Tech companies have been spending billions on AI like kids in a candy store,” said David Laut, chief investment officer at Abound Financial. “Now investors want to see what they’re getting for their money.”Earnings season for tech got off to a strong start Wednesday evening when Tesla surprised Wall Street with better-than-expected earnings. The results sent Tesla’s shares surging more than 11% in after-hours trading, potentially setting a positive tone for next week’s parade of tech earnings. But there’s more spooking Wall Street than just tech earnings.

Persons: ”, David Laut, Tesla, Tesla’s, Jim Reid, Dan Ives Organizations: New, New York CNN, Google, Microsoft, Meta, Apple, Nvidia, “ Tech, “, ChatGPT, Reserve, Deutsche, Wedbush Securities Locations: New York, Canada, France

☆ Elon Musk's secret talks with Putin ramped up during his Twitter takeover: WSJ report
▼ + stars: | 2024-10-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +7 min

watch nowTesla and SpaceX CEO Elon Musk has engaged in secret talks with Russian President Vladimir Putin since late 2022, according to reporting published Thursday by The Wall Street Journal. Currently, the SpaceX website says that a "service date is unknown at this time," for Starlink in Taiwan for general customers. Musk and representatives for X, SpaceX and Tesla did not immediately respond to requests for comment. The conversations between Musk and Putin, who once ran the KGB, reportedly occurred as Musk was in the midst of a leveraged buyout and takeover of Twitter. He continued to promote the idea, via X (formerly Twitter) that some Ukraine citizens would prefer to join Russia.

Persons: Elon Musk, Vladimir Putin, Putin, Musk, withold, Xi Jinping, Bill Nelson, Donald Trump's, Donald Trump, Anna Moneymaker, Mike Gallagher, StarShield, Tesla, NASA's, Joe Raedle, Ian Bremmer, Volodymyr Zelenskyy, Sen, Lindsay Graham, Garry Kasparov, Lisi Niesner, Yuri Milner, Dana Rohrabacher, Rohrabacher, Rohrabacher's Organizations: SpaceX, Wall Street, Republican, Pentagon, NASA, Department of Defense, CNBC, ., NBC, X, KGB, Twitter, Polaris, NASA's Kennedy Space Center, Eurasia Group, NATO, Kremlin, Eastern Economic, Reuters, SXSW, Roscosmos, Russian Space Locations: U.S, Russia, Ukraine, Taiwan, Beijing, Washington, Butler , Pennsylvania, China, Starlink, Cape Canaveral , Florida, Crimea, Ukrainian, Sevastopol, Vladivostok, Bakhmut, Donetsk region, Silicon, Russian, Orange County , California, Moscow

☆ Inside Wall Street's efforts to value OpenAI: Who's involved, how it could work, and what's at stake for the banks
▼ + stars: | 2024-10-25 | by ( Reed Alexander | ) www.businessinsider.com time to read: +9 min

Here's how the process could work and what Wall Street bankers stand to gain. AdvertisementAs third-quarter earnings demonstrated, Wall Street dealmaking appears to be bouncing back after three years of lackluster activity. Spokespersons for both Goldman Sachs and Morgan Stanley declined to comment or confirm their reported participation in the project. The two investment bankers – neither of whom are affiliated with Goldman, Morgan Stanley, OpenAI, or Microsoft — requested anonymity to preserve industry relationships. Largely speaking, however, Wall Street is poised to win, Roberts said.

Persons: Goldman Sachs, Morgan Stanley, —, OpenAI, –, Morgan Stanley's, PwC, Michael Roberts, Morgan, Roberts, Wharton, dealmaker, Sam Altman, Altman, Elon Musk, Reed Alexander Organizations: Service, Wall Street Journal, Microsoft, The, BI, Wharton School, University of Pennsylvania, Goldman, Wall Street, Wharton, dealmakers, Apple, Tesla Locations: San Francisco, Silicon Valley

☆ OpenAI Taps VP Lilian Weng to Lead Risk Management for AI Models
▼ + stars: | 2024-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: 1 min

Weng joined OpenAI in 2018 after working as a data scientist and software engineer at major Silicon Valley companies, including Meta (then Facebook), Dropbox, and Affirm. Weng, part of Business Insider's 2024 AI Power List, took over the preparedness team after its former leader Aleksander Madry was reassigned in July. It's part of a broader effort within the company to consolidate safety research under Weng, who also serves on the board's safety and security committee. As policymakers and consumers focus more attention on the security implications of high-powered AI models, Weng's role within the company is likely to become even more important. See Business Insider's full AI Power List

Persons: Weng, OpenAI, Aleksander Madry Organizations: Meta, Facebook

☆ Warren Buffett — worried about impersonators — says he doesn't endorse candidates or investments
▼ + stars: | 2024-10-23 | by ( John Melloy | ) www.nbcnews.com time to read: +2 min

Warren Buffett is worried about a rise in impersonators looking to capitalize on his name by purporting to be him recommending an investment product or political candidate on social media. So much so that Berkshire Hathaway made the rare move of adding a statement on the matter to the front page of its website. The statement reads:“In light of the increased usage of social media, there have been numerous fraudulent claims regarding Mr. Buffett’s endorsement of investment products as well as his endorsement and support of political candidates. But Buffett wants to make sure everyone knows he would never do something like that. His actions were triggered in part by a fake political endorsement on Meta’s Instagram that was brought to his attention.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Becky Quick, “ I’m, ”, Kamala Harris, Donald Trump that’s, Elon Musk, Bill Ackman, Mark Cuban, Bill Gates, Harris, There’s, shuns bitcoin, Meta’s, Lacy O’Toole Organizations: Berkshire, The New York Times, CNBC Locations: Berkshire, Silicon Valley

☆ Amazon's AI data center dream runs into the reality of 'zombie' facilities, higher costs, and labor shortages
▼ + stars: | 2024-10-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +13 min

Electricity and labor headwinds slow Amazon's data center buildout. AdvertisementAmazon is spending heavily on data centers to support booming AI workloads, putting it on pace to build 240 new facilities by 2040, one estimate found. David Cahn, a Sequoia Capital general partner, recently predicted data center delays across the sector. Bernstein Research recently estimated that electricity demand for AI data centers could exceed supply in just two years without action. An Amazon data center in Oregon.

Persons: —, It's, David Cahn, Marc Wulfraat, MWPVL, we've, Bernstein, Amazon's, Matt Garman, JOSH EDELSON, Garman, Manuel Pineda, Pineda, Owens Corning Organizations: Service, Sequoia Capital, Energy, Amazon, Boston Consulting Group, Bernstein Research, Business, Web, San Francisco 49ers, BI, AWS, Uptime Institute, Center, Survey Locations: AMER, Americas, Oregon , Ohio, Northern Virginia, Amazon's Portland, Arizona, Indiana, Pennsylvania, Silicon Valley, Santa Clara , California, Santa Clara, Levi's, City, Santa, Oregon

☆ Can Donald Trump or Kamala Harris Bring Back Manufacturing Jobs?
▼ + stars: | 2024-10-23 | by ( German Lopez | ) www.nytimes.com time to read: +6 min

The number of manufacturing jobs has fallen 45 percent since the late 1990s, as factories have shuttered or moved to Mexico, China and elsewhere. Canton represents the kind of struggling manufacturing town that once churned out American products. They argue that the candidates’ proposals aren’t enough to reverse the trends — globalization, free trade agreements, automation and other technological changes — that caused manufacturing jobs to leave America in the first place. That helps explain why, despite Mr. Biden’s subsidies, the number of manufacturing jobs nationwide remains 34 percent lower than it was in the late 1970s. Modern manufacturing jobs also often require a postsecondary education.

Persons: Hoover, Donald J, Trump, Kamala Harris, Trump’s, ”, Alec Stapp, Kimberly Kenney, McKinley, ’ Organizations: Industries, Canton, Canton Board of Trade, Institute for Progress, Federal, Companies, McKinley Presidential Library and Museum, Local Locations: Canton , Ohio, Canton, Mexico, China, United States, American, Phoenix, Silicon Valley, Boston, fracking, City

☆ Here’s why China has been testing its autonomous car technology in the U.S. for years
▼ + stars: | 2024-10-23 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +3 min

Chinese companies are aggressively developing autonomous vehicles. In August, China announced that it had issued 16,000 test licenses for driverless cars and opened up about 20,000 miles of roads nationwide for autonomous vehicle testing. But Chinese autonomous vehicle companies have also quietly been testing their technology on U.S. streets. Michael Dunne, CEO and founder of consulting firm Dunne Insights, told CNBC that China had "carte blanche" when it comes to testing AVs in California. Missy Cummings, a former senior safety advisor to the National Highway Traffic Safety Administration, told CNBC the ban was a good start.

Persons: Didi, WeRide, Michael Dunne, Dunne, Let's, Missy Cummings, Cummings, Marc Veasey, Biden Organizations: Baidu, California Department of Motor Vehicles, CNBC, Apple, U.S, National, Traffic Safety Administration Locations: China, California, Silicon, Texas, U.S, California , Nevada, Utah, United States

☆ Fund manager picks a lesser-known global tech stock trading at a 'fraction' of the Mag 7
▼ + stars: | 2024-10-23 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Investors should look beyond the so-called "Magnificent Seven" and identify "country winners" in tech outside the U.S., according to one hedge fund manager. Beeneet Kothari, CEO and principal portfolio manager at the U.S.-headquartered hedge fund Tekne Capital Management, said there are global tech stocks that also make good investments right now. "Our view is that there is a Magnificent Seven set of companies in each of the major economies in the world [which] you can buy for a fraction of the value," he told CNBC Pro earlier this month. The Magnificent Seven stocks — Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla — have dominated investor interest in tech over recent years. Kaspi Among the stocks Kothari is betting on is the Kazakhstan-headquartered fintech Kaspi .

Persons: Beeneet Kothari, Kothari Organizations: Capital Management, CNBC Pro, Apple, Microsoft, Nvidia, Tesla, Kazakhstan Stock Exchange, American Locations: U.S, Kazakhstan, Silicon Valley

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