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☆ Amazon's amazing turnaround: How Andy Jassy secretly wooed Wall Street and overhauled a bloated tech giant
▼ + stars: | 2024-07-08 | by ( Eugene Kim | ) www.businessinsider.com time to read: +14 min

This person is one of over a dozen Amazon employees, investors, and analysts that BI interviewed to better understand Jassy's first 3 years as CEO. Andy Jassy replaced Jeff Bezos (pictured here) as Amazon's CEO in July 2021. In his first 3 years as CEO, Jassy has lost many senior staff. Amazon's spokesperson said the company has "strong retention and continuity" among senior leaders. Amazon's spokesperson said the company is making "huge investments" in AI across AWS and the retail business.

Persons: —, Andy Jassy, Jeff Bezos, Jassy, Bezos, EMMANUEL DUNAND, Mark Shmulik, Bernstein, Bernstein's Shmulik, He's, Shmulik, Amazon's, That's, spokespeople, Jassy doesn't, Doug Herrington, Jay Carney, Dave Limp, Adam Selipsky, Dave Clark, Clark, Ted S, Babak Parviz, Parviz, Mark Mahaney, We're, Jeff Organizations: Service, Business, Amazon, Washington Post, BI, Warren, Echo, Microsoft, AWS Locations: Seattle

UBS raised its price target on Nvidia , calling for nearly 20% upside. He also set a price target of $640, which implies downside of 21%. — Lisa Kailai Han 5:50 a.m.: UBS hikes Nvidia price target, now sees 19% upside UBS sees more gains ahead for Nvidia . Analyst Timothy Arcuri raised his price target for the graphics processing unit manufacturer to $150 from $120. "Our recent supply chain checks confirm our prior suspicions that demand momentum for Blackwell rack-scale systems remains exceedingly robust," the analyst wrote.

Persons: Wolfe, JPMorgan Chase, Guggenheim, ServiceNow, John DiFucci, Lisa Kailai Han, Erika Najarian, — Lisa Kailai Han, Timothy Arcuri, Arcuri, Blackwell, Steven Chubak, Chubak, JPM, — Fred Imbert Organizations: CNBC, UBS, Nvidia, Wolfe Research, JPMorgan, Guggenheim, PNC, PNC Financial Services, JPMorgan Chase JPMorgan, JPMorgan Chase, P Bank ETF Locations: Friday's, 2H24

☆ These are the best ways to play GenAI as it disrupts new industries, according to RBC
▼ + stars: | 2024-07-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Semiconductor stocks and technology behemoths get all the acclaim when it comes to artificial intelligence, but RBC Capital Markets is offering up some alternate ways to play the theme. Other technology giants have followed suit, with Amazon closing above a $2 trillion market value for the first time ever last month. Against this backdrop, RBC Capital Markets highlighted some of its favorite ways to play the theme beyond the classic winners, viewing AI as the "next disruptive mega-trend." While the social media giant has already gotten a boost from the trend, RBC Capital Markets expects shares to benefit from a world where digital advertisers market toward AI and virtual assistants. RBC Capital Markets also highlighted a handful of software stocks that could win big as AI proliferates, viewing the tool as a "revenue enhancer and profitability expander" that may take three to five years to materialize.

Persons: behemoths, GenAI, CrowdStrike, Eaton, Thomson Organizations: RBC Capital Markets, Nvidia, RBC Capital, Adobe, Accenture, Thomson Reuters Locations: Shopify

☆ These stocks, including Nvidia, have more room to run in July, Bank of America says
▼ + stars: | 2024-07-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Bank of America said this week that a slate of stocks is poised for upside as the summer heats up. CNBC Pro combed through Bank of America's research to find buy-rated stocks that are too attractive to ignore. Carnival Carnival is coming off better-than-expected earnings in late June. Bank of America analyst Andrew Didora said in a recent note that this bodes well for the stock in the months ahead. Palantir "We're still in the early innings of AI adoption and expect Palantir (PLTR) to continue to see significant upside from this trend.

Persons: Andrew Didora, Didora, Jason Kupferberg, Kupferberg, Mariana Perez Mora, Palantir, Mora, We're Organizations: of America, Nvidia, CNBC, Bank of, Palantir Technologies, Bank of America, CCL, Palantir, U.S . Department of Defense, Blackwell, …

☆ China leads the patents race for generative AI, with Tencent and Baidu topping the list
▼ + stars: | 2024-07-04 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

TIANJIN, CHINA - JUNE 20: A humanoid robot Xiao Qi is on display during the 2024 World Intelligence Expo at the National Convention and Exhibition Center (Tianjin) on June 20, 2024 in Tianjin, China. (Photo by VCG/VCG via Getty Images)China dominates the global race in generative artificial intelligence patents, filing more than 38,000 patents from 2014 to 2023, a new United Nations report on Thursday showed. Generative AI is a type of artificial intelligence that allows users to generate content such as text, images, music, audio, and videos. Geographically, China leads with 38,210 inventions, far surpassing the U.S. (6,276), Republic of Korea (4,155), Japan (3,409) and India (1,350). Generative AI patents currently make up 6% of total AI patents in the world, according to the report.

Persons: Xiao Qi Organizations: National Convention, Exhibition Center, Getty Images, United Nations, U.S, UN, Intellectual, Organization Locations: TIANJIN, CHINA, Tianjin, China, Republic of Korea, Japan, India

☆ AI is amplifying social media disinformation — and making Big Tech civilly liable may be the key to stemming it
▼ + stars: | 2024-07-04 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +11 min

AI-generated so-called deepfakes are only exacerbating the problem and making it easier than ever to spread disinformation and misinformation via social media. Social media companies are protected from civil liability under a US lawSocial media has largely gone unregulated since its birth nearly three decades ago. So what's been the struggle for the government to address the issue of disinformation and misinformation on social media head-on? Related storiesMcQuade proposed amending Section 230 in order to hold social media companies accountable under certain circumstances. Major social media companies have their own misinformation policiesMany major social media companies, including Meta, TikTok and X, have their own policies when it comes to tackling misinformation and disinformation.

Persons: —, Barbara McQuade, McQuade, we've, what's, Gautaum Hans, Hans, there's, Donald Trump, Joe Biden, Biden, We've, abetted, Meta, Taylor Swift, Elon Musk Organizations: Service, United, Business, University of Michigan, US Department of Homeland Security, ABC News, Social, Communications, Big Tech, Cornell University, Republican, Democratic, US, Twitter, Google, Meta, Elon

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Verizon, Apple, McDonald's, Birkenstock, AT&T, Meta & more
▼ + stars: | 2024-07-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $144 per share from $116. "We are initiating coverage of Gauzy with a Buy rating and $18 12-month price target." Wells Fargo reiterates McDonald's as overweight Wells said it's standing by its overweight rating on shares of McDonald's. "We initiate coverage on Amkor Technology (AMKR, $10B market cap) with an Overweight rating and Dec-25 price target of $48." Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $600 per share from $550.

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's, BIRK, ramping, Stifel, Wells, Tesla, JMP, Academy's, Piper Sandler, Piper, TD Cowen, W.R, Berkley, Snowflake, Raymond James, Rivian, Meta Organizations: UBS, Apple, Verizon, AT, Gannett, JMP, Sports, JPMorgan, Amkor Technology, Deutsche Bank, Walmart, Deutsche, Exchange, ICE, RBC, NextEra Energy Partners, Fox Corp, EV, Meta Locations: China, Taiwan, Asia, TFX, McDonald's, Rivian

☆ The big winners of the AI boom are the most boring companies imaginable
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Some of the main winners of the AI boom will be stocks currently sliding under the radar. Across the road, ground has been broken on another data center. This specifically means data centers, which will be increasingly key for storing information as AI becomes more mainstream. On a single-stock basis, Digital Realty Trust — the only data center real estate investment trust listed on the New York Stock Exchange — has jumped 38% over the last year, while the Global X Data Center & Digital Infrastructure ETF has climbed 12%. Mortonson says it's difficult for software companies to build around AI.

Persons: —, Ted Mortonson, Baird, we're, Goldman Sachs, hasn't, That's, Travis Miller, Miller, Mortonson, There's Organizations: Nvidia, Service, Goldman, Digital Realty Trust, New York Stock Exchange, X Data, Digital Infrastructure ETF, Bank of America, JPMorgan, Morningstar, Business, Software, Utilities Locations: US, Korea, India, Europe

☆ Is Big Tech wrong to train AI models on 'messy' public data? A chat with synthetic data evangelist Ali Golshan.
▼ + stars: | 2024-06-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

Instead, they're calling for companies to train their models on synthetic data. Synthetic data is artificially generated rather than collected from the real world. AdvertisementBusiness Insider chatted with Ali Golshan, CEO and cofounder of Gretel, who one might call an evangelist for synthetic data. Why is synthetic data better than raw public data? AdvertisementUltimately, the other part of it is that synthetic data is very good at privacy if you have enough data.

Persons: —, Ali Golshan, Gretel, Young, There's Organizations: Service, Companies, Meta, Google, Business, Ernst, Riot, Federal Trade Commission

☆ AI is everywhere, and businesses don't know where to start. Here's what consultants are telling clients.
▼ + stars: | 2024-06-28 | by ( Lakshmi Varanasi | Tim Paradis | ) www.businessinsider.com time to read: +8 min

Some 900 of PwC's top 1,000 consulting clients are now working with the firm on incorporating AI into their businesses, a spokesperson told Business Insider. Even as some companies focus on how AI might rewrite corporate playbooks, some businesses are asking consultants how to get started. Advertisement"Many CIOs are afraid that they don't have the right skills," he told BI. Where to beginMany companies are still determining how they might use AI and GenAI, according to several consultants. This enables greater seamlessness down the line, and that is where the magic lies," he told BI.

Persons: —, Ben Ellencweig, Allison Bailey, Bailey, Greg Sward, They're, Jim Rowan, Rowan, Vlad Lukic, Roy Singh, Joe Atkinson, Atkinson, Deloitte's Rowan, Bain's Singh, PwC's Atkinson, he's, Singh Organizations: Service, Business, McKinsey & Company, Boston Consulting, KPMG US, Deloitte Consulting, Bain & Company, Companies, Carrefour, & $

☆ Shadow AI is a growing threat. Here are 3 ways organizations can safeguard their data.
▼ + stars: | 2024-06-28 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

Shadow AI, or the unsanctioned use of technologies such as GenAI, has emerged as a critical threat for organizations trying to secure corporate IP and data. For organizations getting started with GenAI, it's important to understand why shadow AI is dangerous to best identify how to address it. Why shadow AI presents a credible threatMicrosoft and LinkedIn report1 that 78% of employees are "bringing their own AI technologies to work," (BYOAI) a softer way of describing shadow AI. Shadow IT and shadow AI share the same low barrier to entry and platform dynamics. Dell Technologies is a leader in the growing open ecosystem that is helping organizations build, test, and deploy GenAI services.

Persons: Clint Boulton, ESG, RAG Organizations: Microsoft, LinkedIn, Research, Enterprise Strategy Group, Amazon Web, Dell Technologies, Dell, Insider Studios

☆ Inside Europe's tech hubs: France's AI push puts it on the rise
▼ + stars: | 2024-06-27 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +31 min

Brimming with entrepreneurs and around 1,000 startup companies, it embodies France's exciting tech industry. So if you could rank Europe's tech hubs, what would be your top three? But I'm really excited about Lisbon actually, I know the Mayor of Lisbon pretty well, have been hearing really positive things. I mean things like that could just be completely deprioritized, which is essentially what has been helping us move things forward in France. Under Macron what have been for you the big positives that have come out of his presidency and tech push more broadly.

Persons: Tom Chitty, Roxanne Varza, Bruno Le Maire, Tom Chitty The, you'll, Arjun, I've, Roxanne, Macron, we'd, we've, Tom Chitty Let's, Xavier Niel, he's, Roxanne Varza That's, we're, I'm, Roxanne Varza Paris, Tom Chitty Arjun, Arjun Kharpal, What's, There's, you've, haven't, They're, Roxanne Varza Big, Tom Chitty U.S, Arjun Kharpal It's, who's, that's, there's, they've, we'll, Tom, Tom Chitty We'll Organizations: Meta, Google, CNBC, Uber, Accel, Dealroom, Mistral, Viva Tech, Sequoia Capital, Big Tech, Microsoft, French Finance, London Stock Exchange, London . Locations: Paris, France, French, Europe, beyondthevalley@cnbc.com, London, Berlin, U.S, Silicon Valley, Palo Alto, Bay, Amsterdam, Lisbon, Old, Shoreditch, London . Tel Aviv

☆ Britain looks to upstage France with play for world's third major AI hub after U.S., China
▼ + stars: | 2024-06-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.

Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain

☆ This small-cap tech stock is set to rally nearly 30%, TD Cowen says
▼ + stars: | 2024-06-25 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Credo Technology has emerged to take the crown as TD Cowen's top small- and mid-cap stock pick after a red-hot start to the year. Analyst Matthew Ramsay also upped his price target for the stock to $35 from $24, implying that Credo shares could rally 28% from Monday's close. Specifically, he thinks that Credo's revenue could inflect in the second half of its fiscal year as a number of its programs begin to ramp, including some GenAI buildouts. Credo's key program ramps within its active electrical cables at Microsoft and Amazon should also play a role in pushing the company's fundamentals higher. "Overall, we see the diversification of the company's revenue base as a key de-risking of the model and should benefit the durability of revenues going forward," Ramsey said.

Persons: Matthew Ramsay, Ramsay, there's, Ramsey Organizations: Technology, Microsoft, Active Electrical Cable Locations: Monday's

☆ Behind Balyasny's training program that gives analysts a crash course in data science and AI
▼ + stars: | 2024-06-23 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

"Five, 10 years from now, it's going to be table stakes to know Python, to know a lot of these AI tools that are being generated today. And that's exactly what the 6-month program, called Bridger, strives to do. It gives sell-side analysts from research firms, investment banks, and consultancies the chance to build up their technical chops. The program also creates a pipeline of analysts at a time when investing talent among hedge funds is competitive and expensive. While learning to code was always part of the curriculum, this year it added AI skills to the program.

Persons: it'll, Will Scott, Scott, Bridger, Balyasny, Bridger alums, Stephen McGee, McGee, wasn't, Nicole Goldin's, Goldin Organizations: Service, Balyasny, Management, BAM, Bridger, JPMorgan, Columbia University Locations: Bridger

☆ The best-funded generative AI startups in Europe have something in common: Big Tech experience
▼ + stars: | 2024-06-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

That figure rose to more than a third (38%) for the top 40 European and Israeli generative AI companies in terms of venture funding raised, and 60% for the top 10 generative AI companies for funding levels. Google bought British AI lab DeepMind in 2014, and the firm's tech is now key to AI products including its Gemini generative AI tools. Many AI founders are professors, tooAccel noted universities play a major role in the creation of generative AI startups. British universities are the most popular study destination for generative AI founders, Accel's research found. France's Ecole Polytechnique is the second-highest academic founder factory in Europe, with 7% of generative AI founders having studied there.

Persons: Arthur Mensch, Porte de Versailles, Dealroom, Harry Nelis, Europe's, Nelis, Timothee Lacroix, Guillaume Lample, Laurent Sifre, Karl Tuyls, Charles Kantor, Mistral, Accel, —, Lourdes Agapito, Agapito, Matthias Niessner, Victor Riparbelli, Steffen Tjerrild Organizations: Viva Technology, Parc, Chesnot, Getty, Accel, Apple, Google, Microsoft, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Facebook, Research, Meta, Amazon, Stanford University, British, University College London, UCL, University of Cambridge, France's Ecole Polytechnique Locations: Paris, France, Europe, Israel, Israeli, Alpha Germany, United Kingdom, British, London, France's

☆ This is not the dot-com bubble and Nvidia's valuation is still 'compelling,' says Bank of America
▼ + stars: | 2024-06-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America warned against seeing Nvidia as a potential long-term pullback victim while cautioning that today's artificial intelligence boom is altogether different from the 1990s dot-com bubble. Nvidia briefly rallied 3.8% on Thursday, helping send the S & P 500 above 5,500 for the first time, only to later retreat as much as 3.8%. Additionally, Arya pointed to demand among cloud customers for Nvidia's new Blackwell AI accelerator systems. The analyst said on-premise enterprise and sovereign AI demand as well as software monetization is still in the "early stages." When all is said and done, Arya said that Nvidia's valuation is still "compelling."

Persons: Vivek Arya, Arya, Jensen Organizations: of America, Nvidia, Blackwell

☆ There are 5 reasons any dip in Nvidia stock will be short-lived - and investors should use a decline as a buying opportunity
▼ + stars: | 2024-06-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Nvidia stock still offers a compelling valuation even after its 170% rally this year, BofA says. There are five reasons investors should view any decline in Nvidia stock as a buying opportunity. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . These are the five reasons Arya is staying bullish on the stock. Arya reiterated his "Buy" rating on Nvidia stock and $150 price target, representing upside of 12% from current levels.

Persons: BofA, —, Vivek Arya, Arya, Rosenblatt Organizations: Nvidia, Service, Bank of America, Blackwell Locations: CQ2

☆ More than half of banking jobs could be automated by AI — but banks will be slow to adopt, Citi report says
▼ + stars: | 2024-06-19 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +3 min

But, according to a new report from Citigroup researchers, "finance will be at the forefront of the changes." That means "banking jobs" (which the report didn't narrowly define) have the highest potential for AI-led job displacement. Citi's AI in FInance report. AdvertisementIn an interview featured in the report, Shameek Kundu, the head of financial services and chief strategy officer at TruEra, weighed in on the same point. "I would describe traditional AI adoption in financial services as: widespread, shallow, and inconsequential," said Kundu.

Persons: —, Shameek Kundu, Kundu Organizations: Service, Citigroup, Business, Accenture Research, Economic, Citi, FInance, of England

☆ AI could supercharge offshoring
▼ + stars: | 2024-06-16 | by ( Tim Paradis | ) www.businessinsider.com time to read: +11 min

There's another possibility, however: Someone who knows how to use AI — and who's based abroad — will come for your job. AdvertisementAndrew Yeung, a former product lead at Google and Meta, predicted in May that overseas workers who get their AI glow-up will someday take over numerous jobs. And it's not just learning about AI, but learning from AI. AI is also making it cheaper to bring lessons on AI and other topics to people in languages other than English. AdvertisementThe time it took for earlier technologies — including automation and robotics — to rejigger the labor market was longer than what we're seeing with Gen AI, Vincent said.

Persons: —, Andrew Yeung, Sagar Khatri, Khatri, Everyone's, Jeff Maggioncalda, Maggioncalda, Coursera, Daron Acemoglu, they're, Acemoglu, Scott Vincent, Vincent, he's, Offshoring, you've, Drew Cesario Organizations: Service, Business, Google, Sagar, Massachusetts Institute of Technology, Philippines . " Workers, Digital Futures, Futures, Cesario Locations: New York, Philippines, Mexico, India, Pakistan, Brazil, Vietnam, Egypt, Japan, Germany, Indonesia

☆ The AI boom is unraveling the most dominant tech trade of the last decade
▼ + stars: | 2024-06-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Software stocks have been slammed this year after a long period of strong performance. Meanwhile, hardware stocks are reaping the benefits of the AI boom as their profits soar. AdvertisementYear-to-date, hardware tech stocks are outperforming software tech stocks by a whopping 30 percentage points. AdvertisementThis dynamic means that hardware stocks will continue to outperform software stocks through 2025, according to Mortonson. "The moats that some of the software companies, not all but some, have around their businesses are not going to be quite as high.

Persons: Ted Mortonson, —, Baird, Mortonson, It's, Larry Tentarelli, Chip, Steve Eisman, Eisman Organizations: Service, Software, NYSE Arca, Dow Jones US Software, Nvidia, AMD, Micro Computer, Broadcom, Dell, Chip Daily, CNBC Locations: Salesforce, Snowflake

☆ A bunch of analysts cut price targets on these 3 stocks this week. Here's why
▼ + stars: | 2024-06-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Analysts have slashed price targets on three stocks from around the world over the past week: Adobe , France's Remy Cointreau , and Israeli software provider NICE . Adobe Five analysts cut their price targets ahead of Adobe's second-quarter earnings report, released after the bell Thursday. Remy Cointreau It's also been a tough week for Remy Cointreau, the makers of cognacs, liqueurs, and champagne. Ten analysts cut their price target on the stock over the past week. NICE NICE, which builds customer relationship management software, saw five analyst price target cuts over the past week.

Persons: France's Remy Cointreau, Remy Cointreau, Oppenheimer, Brian Schwartz, Remy Cointreau It's, Sanjeet Aujla, Remy, Rishi Jaluria Organizations: NICE, CNBC Pro, Adobe, Google, UBS, Nasdaq, RBC Locations: U.S, Adobe's, Cognac, China, Europe, United States

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Hasbro, Sunrun, Amazon, Costco, Spotify, Pinterest, Apple & more
▼ + stars: | 2024-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Piper Sandler reiterates Pinterest as a top pick Piper said it's sticking with its overweight rating on the stock. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant remains a top pick at the firm. The firm also says it's sticking with its outperform rating on Apple. "We are reiterating our Buy rating and raising our price target on shares of Costco from $890 to $940." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla .

Persons: Bernstein, it's, D.A, Davidson, KBW, Tesla, underperform Bernstein, Musk, Piper Sandler, Pinterest, Piper, Evercore, Morgan Stanley, Sunrun, Guggenheim, Macquarie, Roblox, TD Cowen, Cowen, Michael Colglazier, Morgan Stanley downgrades Twilio, JPMorgan, GenAI, Wolfe, Elon Organizations: Bank of America, Elon, Spotify, UBS, TPC, Galactic, America, JPMorgan, Adobe, " Bank of America, Hasbro, of America, Monopoly, Apple, Baidu, Apple Intelligence, Costco, Nvidia, Tesla Locations: China

☆ Oracle stock pops 13% on AI demand, new deals with Google and OpenAI
▼ + stars: | 2024-06-12 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Oracle shares closed up more than 13% on Wednesday, a day after the software company announced its fourth-quarter results and cloud deals with Microsoft -backed OpenAI and Google . Alongside its results, Oracle said it is partnering with Microsoft and OpenAI to help supply additional computing capacity for the startup. Analysts from Citi said Oracle's sluggish revenue for the fourth quarter was offset by "tremendous RPO bookings growth." UBS analysts said the highlight of Oracle's results is its "extraordinary sequential backlog growth of $18 billion." Morgan Stanley analysts said Oracle's quarter was mixed, but the "near term AI build-out likely wins the day and sustains momentum in shares."

Persons: Larry Ellison, Safra Catz, Oracle, Morgan Stanley, — CNBC's Michael Bloom, Jordan Novet Organizations: Oracle, Microsoft, Google, Analysts, Citi, UBS Locations: San Francisco

☆ This under-the-radar tech stock is a Gen AI 'enabler,' and analysts give it 40% upside
▼ + stars: | 2024-06-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.

Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake

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