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[1/2] A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Aug 28 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Monday that she raised concerns about a number of U.S. business issues including Intel (INTC.O) and Micron (MU.O) with Chinese Commerce Minister Wang Wentao. Raimondo in May said the United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion." Raimondo announced earlier on Monday that China had agreed to create a new formal working group on commercial issues with the United States. The new commercial issues working group is a consultation mechanism involving U.S. and Chinese government officials and private sector representatives "to seek solutions on trade and investment issues and to advance U.S. commercial interests in China."
Persons: Dado Ruvic, Gina Raimondo, Wang Wentao, Raimondo, Wang, May, David Shepardson, Jason Neely, Mark Potter Organizations: REUTERS, Rights, . Commerce, Intel, Micron, Chinese Commerce, Micron Technology, Tower Semiconductor, China's, Administration, Market, Thomson Locations: Rights BEIJING, China, United States
Maybe it’s because of what you’re wearing, a lack of fitness or uncertainty about how a group class will operate. These negative feelings — dubbed “gymtimidation” — are real, and they can prevent you from achieving your fitness goals. In addition, exercise is a powerful force in combating stress, anxiety and depression — a real irony when it comes to the issue of gymtimidation. “Gym anxiety affects people who are young, old, male and female,” said Brookelyn Suddell, director of group fitness strategy and development for Crunch Fitness in New York City. Once you’ve identified your fears and concerns, see if one or more of these options, shared by Nitschke and Suddell, help alleviate them.
Persons: You’re, , That’s, , Brookelyn Suddell, Erin Nitschke, , Nitschke, Suddell, ” Suddell, you’re, you’ve, there’s, ” Melanie Radzicki McManus Organizations: CNN, Crunch Fitness, Laramie County Community College, CNN’s, intel Locations: New York City, Laramie, Cheyenne , Wyoming
CNBC Daily Open: Jackson Hole fears overshadow Nvidia
  + stars: | 2023-08-25 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally fizzles outU.S. stocks closed lower Thursday as an earlier Nvidia-sparked rally fizzled out, while Treasury yields climbed higher. Low trading volumes, economic weakness in China and high Treasury yields are all contributing to the August sell-off, writes CNBC's Fred Imbert. This ETF, however, consists of just one stock — and aims to deliver a 1.5-times return on a daily basis.
Persons: Jerome Powell, paring, Nvidia's, Fred Imbert, South Africa —, BRICS, it's Organizations: U.S . Federal Reserve, CNBC, Nvidia, AMD, Intel, Nasdaq, United, United Arab Emirates, Exchange Locations: Moran , Wyoming, Turkey, China, Brazil, Russia, India, South Africa, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab
CNBC Daily Open: Jackson Hole anxiety overshadows Nvidia
  + stars: | 2023-08-25 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Jerome Powell, Chair of the Federal Reserve, arrives to a dinner at the start of the Jackson Hole Economic Symposium on August 24, 2023 at Grand Teton National Park near Jackson Hole, Wyoming. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally fizzles outU.S. stocks closed lower Thursday as an earlier Nvidia-sparked rally fizzled out, while Treasury yields climbed higher. But there are other market themes that investors should know about, according to Goldman Sachs.
Persons: Jerome Powell, paring, CNBC's Lucy Handley, Singh Puri, CNBC's Tanvir Gill, Puri, Goldman Sachs Organizations: Federal Reserve, Jackson, Grand Teton, CNBC, Nvidia, Nikkei, AMD, Intel, Petroleum, Natural Gas Locations: Jackson Hole , Wyoming, Asia, Pacific, China, Europe, India, Moscow
Washington CNN —Russian intelligence is operating a systematic program to launder pro-Kremlin propaganda through private relationships between Russian operatives and unwitting US and western targets, according to newly declassified US intelligence. “At the end of the day, this unwitting target is disseminating Russian influence operation, Russian propaganda to their target public,” the US official said. In fact, the FSB directed his efforts and “almost certainly financed the project,” according to the declassified intelligence. The FSB does use similar tactics to influence political opinion within Russia, according to the intelligence. “The purpose of those protests really was … designed to sell it to the Russian people,” the US official said.
Persons: , Maxim Grigoriev, Syria –, Bashar al, Assad, optees ”, Andrey Stepanenko, Natalia Burlinova, Anton Tsvetkov Organizations: Washington CNN, Russian, Russian Federal Security Service, CNN, UN, , US, Embassy — Locations: Russian, Syria, Russia, United States, Ukraine, New York, Boston, Washington, Moscow —, Ukrainian
Nvidia's stock rose as high as $502.66, topping a record hit earlier this week, The first trillion-dollar chip maker pared some gains and was last up 0.8%% at $474.6. The technology-heavy Nasdaq Composite (.IXIC), buoyed by Nvidia, rose in early trade before falling by 1.36%. Reuters GraphicsMore than 20 brokerages raised their target price on Nvidia after the earnings. The median analyst price target on the stock has nearly doubled to $600 since May when the company forecast a 50% jump in second-quarter revenue. Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.
Persons: Ann Wang, Michael James, James, Elazar, Tom Plumb, Plumb, Matthew Tuttle, Susan Mathew, Chavi Mehta, Medha Singh, Shreyashi Sanyal, Shristi Achar, Amruta, Noel Randewich, Varun H, Shinjini Ganguli, Sharon Singleton, David Gregorio Our Organizations: REUTERS, Nvidia, Philadelphia Semiconductor, Marvell Technology, Devices Inc, Intel, Nasdaq, Wedbush Securities, Reuters, Elazar Advisors, Rosenblatt Securities, Plumb Funds, Partners, Tuttle Capital Management, Thomson Locations: Taipei, Taiwan, Clara , California, Bengaluru, Chibuike, New York, Oakland , California
But these days, the gap between the best gaming laptops and best gaming PC desktops is much closer. AdvertisementAdvertisementGaming laptop vs. desktop: PerformanceGaming laptops and gaming desktops both look and run differently. AdvertisementAdvertisementGaming laptop vs. desktop: Heat and required powerAnyone who's ever played on a gaming laptop (or even a regular laptop) is familiar with the burning sensation of a laptop chassis on their thighs. AdvertisementAdvertisementGaming laptop vs. desktop: PriceFor the same amount of performance, gaming desktops are cheaper than gaming laptops. Even if two machines have the same listed specs, desktop hardware is far more powerful than mobile laptop hardware.
Persons: you'll, William Antonelli, , they're, who's, they've, it'll, They're, I've Organizations: DC, Dell, Mobile, Asus, Gaming
And that $1 trillion of data centers is in the process of transitioning into accelerated computing and generative AI. Additionally, Nvidia announced AI-ready servers to support the VMware Private AI Foundation and help businesses customize and deploy generative AI applications using their proprietary data. Shares of AMD have also surged higher in this year's AI trade, though the role the company plays in the field is less clear. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jensen Huang, Huang, ChatGPT, Nvidia's Huang, It's, We've, Grace Hopper Superchip, it's, hyperscalers, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Broadcom, Jim Cramer's Charitable Trust, Devices, AMD, Moore's, Microsoft, Broadcom's, VMWare, VMware, Nvidia, AI Foundation, U.S . Federal Trade Commission, Intel, Tower Semiconductor, ARM, CNBC, View, Getty Locations: China
Here are three major reasons why Nvidia stock — which has amore than tripled so far in 2023 — has not finished its climb, justifying our $600-per-share price target. That's because Wall Street's earnings estimates have been revised much higher than Nvidia stock's more-than-3% post-earnings gain. A forward price-to-earnings (P/E) ratio is calculated by dividing a company's stock price by its annual earnings-per-share (EPS). Using Thursday's midday price of roughly $486 per share, Nvidia stock trades at a 46.6 P/E, based on fiscal year 2024 estimates. That makes Nvidia's stock rally largely an earnings-driven story, not an ascent rooted in multiple expansion.
Persons: Nvidia's, , Wall, Jensen Huang, Huang, Colette Kress, Grace Hopper Superchip, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nvidia, Micro Devices, Intel, Microsoft, Oracle, Consumer, IDC, Broadcom, AMD, Jim Cramer's Charitable, CNBC Locations: Wednesday's, Santa Clara , California
Aug 24 (Reuters) - AI startup Hugging Face said on Thursday it was valued at $4.5 billion in a $235-million funding round backed by technology heavyweights, including Salesforce (CRM.N), Alphabet's (GOOGL.O) Google and Nvidia (NVDA.O). The latest round of funding outlines the rapidly growing adoption of artificial intelligence (AI), which has been hailed by many as the next frontier of technology and has attracted some of the biggest investors in Silicon Valley. Following the launch of OpenAI's popular chatbot ChatGPT, several AI startups like Microsoft-backed (MSFT.O) Inflection AI and Google-backed Runway have raised funds. Intel (INTC.O), Advanced Micro Devices (AMD.O), Qualcomm (QCOM.O), IBM (IBM.N), Amazon (AMZN.O) and Ashton Kutcher-backed venture capital firm Sound Ventures also participated in Hugging Face's latest funding round. "In five years, every tech company will be an AI company," Delangue added.
Persons: Ashton Kutcher, Face's, Clément Delangue, Delangue, Shubhendu Satish Deshmukh, Niket, Shweta Agarwal Organizations: Google, Nvidia, Microsoft, Intel, Devices, Qualcomm, IBM, Sound Ventures, Thomson Locations: Silicon Valley, Bengaluru
Hong Kong CNN —US Commerce Secretary Gina Raimondo will travel to China next week, a visit that coincides with a worsening slowdown in the world’s second largest economy. Gina Raimondo, US commerce secretary, speaks during the SelectUSA Investment Summit in National Harbor, Maryland, US, on Tuesday, May 2, 2023. The Commerce Department announced on Monday that it was removing 27 Chinese companies from US export controls. China’s Ministry of Commerce welcomed the decision, saying it was conducive to trade and reflected the interests of both sides. That was followed earlier this month by President Biden signing an executive order that limits US investment in certain tech sectors of the Chinese economy, including AI and quantum computing.
Persons: Gina Raimondo, Raimondo, , Craig Singleton, Ting Shen, Trump, Biden, , Washington, Donald Trump, It’s, Xi, Singleton, — Kylie Atwood, Jeremy Diamond Organizations: Hong Kong CNN — US, Washington, Foundation for Defense of Democracies, Commerce Department, Beijing, SelectUSA Investment, Bloomberg, Getty, China’s Ministry of Commerce, ” Eurasia Group, Apple, Nike, Intel, Microsoft, General Motors, US Treasury Department, Mintz Group, Bain & Company, Communist Locations: Hong Kong, China, Beijing, Washington, Shanghai, National Harbor , Maryland, United States, Europe, Japan, New York, court
Hugging Face, an AI firm based in New York, has raised $235 million at a $4.5 billion valuation from some of technology's biggest companies. Hugging Face CEO Clement Delangue said the funds are to be focused on hiring talent to be competitive in the artificial intelligence space. He hopes that AI developers will rely on Hugging Face on a daily basis to get their work done. And if all of them use Hugging Face all day, every day, we'll obviously be in a good position," he said. Hugging Face hosts 500,000 different AI models, 250,000 data sets, and has 10,000 paying customers, the company said.
Persons: Clement Delangue, OpenAI, BLOOM, Delangue Organizations: Google, Nvidia, Salesforce, AMD, Intel, IBM, Qualcomm, Microsoft, Facebook, Meta, CNBC, IDEFICS Locations: New York
Developers in the world of artificial intelligence can't get enough of Nvidia's processors. "NVDA Data Center revenues are now expected to be more than double INTC+AMD Data Center revenues combined, underscoring the growing importance of accelerators for today's Data Center customers," Deutsche Bank analyst Ross Seymore wrote in a note on Thursday. Nvidia is now expected to post $12 billion in data center sales in the current quarter, according to FactSet data. AMD and Intel are trying to stay relevant in the AI market, but it's a struggle. Like Intel, AMD faces a timing challenge.
Persons: Nvidia's, Ross Seymore, Pat Gelsinger, it's, Raj Joshi, Morgan Stanley, Joseph Moore, Moore Organizations: Nvidia, AMD, Intel, Meta, Microsoft, today's Data Center, Deutsche Bank, Moody's Investors Services, Marvel Locations: French
[1/2] Volkswagen's factory is seen in Sao Bernardo do Campo, Sao Paulo state, Brazil June 28, 2023. Demand for chips has risen dramatically in the car industry in line with electric vehicle production and the need for increasingly complex software. Volkswagen and Franco-Italian chipmaker STMicroelectronics (STMPA.PA) announced plans last July to co-develop a new semiconductor, marking VW's first direct relationship with a second- and third-rank semiconductor supplier. Volkswagen has not struck a direct supply relationship with TSMC - the world's biggest contract manufacturer of semiconductors - but meets with them every few weeks to communicate its demand situation, Schnake said. The carmaker also plans to reduce the variety of chips required in its vehicles to simplify the supply chain, which will also help simplify its software offering, Schnake added.
Persons: Campo, Leonardo Benassatto, chipmakers, Karsten Schnake, Dirk Grosse, Taiwan's TSMC, Schnake, Victoria Waldersee, Jan Schwartz, Bill Berkrot Organizations: REUTERS, Rights, NXP Semiconductors, Infineon Technologies, Renesas Electronics, Volkswagen, Intel, Thomson Locations: Sao Bernardo, Sao Paulo state, Brazil, Berlin, Germany
Since Memorial Day, the 30-stock benchmark is up more than 3%, as some tech and nontech names gain traction. To help answer it, CNBC Pro searched for the best-performing Dow stocks since May 29. Intel made the list, rising more than 13% from Memorial Day through Tuesday's close. The best performer on the list is Caterpillar , which has added nearly 28% from Memorial Day through Tuesday. About 41% of analysts polled by FactSet maintain a buy rating on the stock, and the average price target implies 6.6% upside.
Persons: Dow, FactSet Organizations: Dow Jones, CNBC Pro, Dow, Intel, UBS, Boeing, FactSet, Caterpillar Locations: Tuesday's
TSMC, however, has maintained that the incoming Taiwanese workers will not be a threat to US jobs. The pipe cutter said that TSMC and its key contractors were largely to blame for the management problems. After complaining about one safety issue for two straight weeks, he said, he spoke with a company safety representative. And then you go to degown, and they don't have your hanger or somebody took your hanger," the pipe cutter said. He added: "It's not like we're against the Taiwanese workers or anything.
Persons: TSMC, they're, it's, didn't, he's, , they'd, they've, Everyone's, we're, It's, Luke Kasper, Arizona Organizations: Service, Taiwan Semiconductor Manufacturing, Arizona Pipe, Intel, New York Times, Times, American Prospect, TSMC Locations: Arizona, Wall, Silicon, chipmaker, TSMC, Taiwan, United States, degown
Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm’s designs turn to TSMC for its low-cost manufacturing. None of these companies’ investments in Arm’s IPO are certain.
Persons: Dado Ruvic, , Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel Organizations: FRANCISCO, Reuters, Arm Holdings, REUTERS, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund Locations: Switzerland, Japan
Arm is hoping for a valuation of up to $70 billion in the IPO, which will launch on the Nasdaq next month. Arm and its owner SoftBank Group (9984.T) have set aside 10% of the shares to be sold in the IPO for its clients, the sources said. Its close relationship with Arm has helped it design chips that curbed its reliance on Intel as a supplier. Many technology companies that seek to make their own chips using Arm's designs turn to TSMC for its low-cost manufacturing. None of these companies' investments in Arm's IPO are certain.
Persons: Dado Ruvic, Jack Gold, SoftBank, Apple spokespeople, Jay Lee, Masayoshi Son, Son, TSMC, Dylan Patel, Milana Vinn, Stephen Nellis, Max Cherney, Greg Roumeliotis, Matthew Lewis Organizations: REUTERS, FRANCISCO, Arm Holdings, Apple, Intel, Nvidia, Microsoft, Samsung Electronics, Reuters, Nasdaq, Gold Associates, SoftBank, Devices Inc, APPLE, SAMSUNG, Samsung, MICROSOFT, Devices, Vision Fund, Thomson Locations: Switzerland, Japan, New York, San Francisco
Photos show a Russian Tupolev Tu-22M3 bomber destroyed at a base deep inside Russia, the BBC reported. The UK MOD said the attack likely came from within Russia as the drone could not fly all the way from Ukraine. UK intelligence analysts concluded that the type of drone, paired with the location, meant the attack likely originated from hostile units within Russia itself. The aircraft type has been used by frequently Russia to attack Ukrainian cities, the BBC and the UK Ministry of Defense said. Since Russia invaded Ukraine in February 2022, a small number of attacks have taken place inside Russia.
Persons: Vladimir Putin Organizations: BBC, MOD, Service, UK Ministry of Defense, New Locations: Russian Tupolev, Russia, Ukraine, Wall, Silicon, Russia's, Ukrainian, Novgorod, Tupolev, St Petersburg, Mariupol, Soltsky
New York CNN —The Chinese economy has hit a rough patch. What’s happening: Chinese consumer spending, factory production and investments in long-term assets like property or machinery all slumped last month. On Monday, the Chinese government surprised investors by deciding not to cut an important interest rate that influences mortgages. The beauty company is “mindful of the headwinds that have emerged in China’s economy,” said the report. And even still, many regional banks have struggled to prevent deposit outflows.
Persons: , Jason Pride, Michael Reynolds, Lisa Shalett, Edward Moya, Estee Lauder, Moya, , Elisabeth Buchwald, Moody’s, ‘ Barbie ’, “ Barbie ”, Jordan Valinsky, Greta Gerwig, “ Oppenheimer, “ Barbie Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Morgan Stanley Wealth Management, European, Apple, Intel, Ford, Starbucks, Nike, Saudi, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, China, Europe, Beijing, Asia, Russia, Saudi Arabia, Silicon
The Ukrainian counteroffensive has resulted in some victories against Russia — and many casualties. As platoon sizes shrink due to the heavy losses, wounded veterans are returning to the battlefield. Some soldiers too disabled from their injuries to continue fighting now work in recruitment offices. Some platoons, so diminished by their losses, are now made up almost entirely of soldiers who have been wounded and returned to fight, The New York Times reported. Insider previously reported that Ukrainian troops are taking heavy damage from old-fashioned wartime tactics, including mines and booby traps, high-tech drone attacks, and advanced weapons systems.
Persons: Russia —, Zelenskyy Organizations: Russia, Service, New York Times, Ukraine's Ministry of Defense, Ukraine, intel Locations: Wall, Silicon, Ukrainian, Melitopol
Arm, the chip designer owned by Japan's SoftBank, filed for a Nasdaq listing on Monday, positioning itself to go public during a historically slow period for tech IPOs. Arm's 2023 revenue was slightly down from the company's 2022 sales of $2.7 billion. Arm chips are made by companies including Amazon, Alphabet, AMD, Intel, Nvidia, Qualcomm, and Samsung, according to the filing. Arm said that its technology was included in over 30 billion chips shipped in its fiscal 2023. SoftBank originally sought to sell Arm to chip giant Nvidia , but the deal faced major pushback from regulators, who raised concerns over competition and national security.
Persons: Japan's SoftBank, confidentially, SoftBank Organizations: London Stock Exchange, AMD, Intel, Nvidia, Qualcomm, Samsung Locations: U.S
Ukraine is repurposing the Soviet-era S-200 surface-to-air missile system to strike inside Russia. The weapon, which weighs 7.5 tons and is 36 feet long, is used for ground attacks, the UK MoD says. The weapon also called the S-200 surface-to-air missile system, weighs 7.5 tons and is 36 feet long. Forbes reported in July that Kyiv might be repurposing the obsolete weapons for ground attacks to replace its diminishing stockpile of Tochka ballistic missiles. A video showed what appears to be a V-860 or V-880 missile, the munition used in the S-200 system, hitting the ground in Bryansk Oblast in Russia, just north of the border with Ukraine.
Persons: Forbes, Vladimir Putin Organizations: MoD, Russia's Aerospace Forces, Service, UK Ministry of Defence, GAMMON Locations: Ukraine, Russia, Wall, Silicon, Soviet, Moscow, Kyiv, Bryansk Oblast, Crimea
And according to a report from Consumer Intelligence Research Partners, they're especially popular among young adults — the same group that dominates PC gaming, according to Statista. However, these days, most MacBooks run on a single chip called either the M1 or M2, also known as Apple silicon, that holds both the CPU and GPU. Steam, the most popular PC gaming app, even has its own dedicated macOS catalog now. It features thousands of fantastic games, including:You also have access to a wealth of popular games outside of Steam, like Fortnite and The Sims 4. And don't forget cloud gaming services like Xbox Game Pass that let you stream popular games on your MacBook.
Persons: MacBooks, you'll, Whoopi Goldberg's, you'd, William Antonelli, I've, you've, aren't Organizations: Consumer Intelligence Research Partners, Apple, AMD, Intel, Nvidia, Mac, Forza, Xbox Cloud Locations: itch.io
US intelligence believes Ukraine won't reach the key city of Melitopol, The Washington Post reported. Retaking the city is a landmark goal for Ukraine's counteroffensive. Reaching and even retaking Crimea is a hallowed objective in Ukraine's counteroffensive, with the peninsula under Russian occupation since 2014. Ukrainian troops are trying to push through these deadly lines from the town of Robotyne, 50 miles to the north, per The Washington Post. Ukraine has switched to pummelling the Russian lines with artillery fire, before painstakingly attempting to move forward with infantry and sappers.
Persons: Ukraine's, recriminations, Patrick Bury, Bury, Melitopol, Oleksiy Danilov Organizations: The Washington Post, Ukraine's, Service, Washington Post, Post, Democrats, UK's Bath University, Russia, Dnipro, Bradley Locations: Ukraine, Melitopol, The, Russia, Wall, Silicon, Azov, Dnipro, Crimea, Kerch, Robotyne
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