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☆ The two-letter word helping this lender buck the delinquency storm
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

But that’s not an accident,” Max Levchin, Affirm’s CEO and a co-founder of PayPal, told CNN in a recent interview. Levchin credits a willingness to say a two-letter word, one that’s not exactly associated with the surging BNPL industry, N-O. It’s that we are honest when we tell them, ‘Hey, we don’t think you should borrow right now.’”Affirm started saying “no” more often in the spring of 2022. That’s when Levchin started observing signs of “financial stress” as inflation surged and gas prices approached record highs. “Say you’re asking to borrow to buy an $800 TV and we really don’t think it’s healthy for you, financially…We can say, ‘That’s too much now.

Persons: “ We’re, that’s, ” Max Levchin, Levchin, “ It’s, ’ ”, ”, “, Max Levchin, Gross, we’ll, ” Levchin, it’s, BNPL, There’s Organizations: New, New York CNN, PayPal, CNN, New York Fed, Target, Walmart, Royal, American Airlines, NY Fed, Federal Reserve, Biden, Trump Locations: New York, Helsinki, Finland, Royal Caribbean, Covid

☆ Jim Cramer says McDonald's embracing AI at drive-thrus is good news for Nvidia
▼ + stars: | 2024-02-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

McDonald's use of artificial intelligence in drive-thru lanes is a sign adoption of the technology is growing across the U.S., CNBC's Jim Cramer said Friday. "Rest assured, we're all over the AI opportunity at McDonald's," the company's statement said, according to Cramer. McDonald's is one of many companies experimenting with AI, Cramer said. Nvidia — a stock in Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club — stands to gain as more companies embrace AI, Cramer explained. Cramer's Trust also owns Microsoft and Apple.

Persons: CNBC's Jim Cramer, Cramer, Jim Cramer's Organizations: Nvidia, McDonald's, IBM, Google, Trust, CNBC, Microsoft, Apple, Cramer's, Club Locations: U.S, America

☆ The Tooth Fairy Is Getting Out of Control
▼ + stars: | 2024-02-23 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +2 min

But when I read in Axios that the going rate per tooth from the Tooth Fairy is $5.84, well, I nearly choked on my Werther's Original. Frankly, the Tooth Fairy price is too damn high. AdvertisementThe Tooth Fairy's going rate is $5.84 a tooth, according to a Delta Dental report. These parents are following a trend of doing big celebrations for not just milestones like Sweet 16s or graduations, but "inchstones" like a lost tooth. AdvertisementMy son did mention to me that he had heard that other kids got $20 from the Tooth Fairy, which I sort of brushed off.

Persons: —, Fred Durst, Louis Vuitton, he's Organizations: Service, Delta Dental, Street Journal, New York

☆ Nvidia faces stiff test on Wall Street this week after 'parabolic' stock rally
▼ + stars: | 2024-02-20 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

Jensen Huang, CEO of Nvidia, arrives for the Inaugural AI Insight Forum in the Russell Building on Capitol Hill on Sept. 13, 2023. Nvidia's stock price has soared fivefold since the end of 2022, as demand has skyrocketed for its graphics processing units that sit at the heart of the artificial intelligence boom. Nvidia's chips, such as the H100, are used by AI developers to create cutting-edge models like the ones OpenAI used to develop ChatGPT. The company's market cap climbed to about $1.8 trillion last week, surpassing Alphabet and Amazon and now trailing only Microsoft and Apple . "NVDA's stock appreciation has been parabolic," analysts at Bank of America wrote in a report Thursday.

Persons: Jensen Huang, Davidson, Gil Luria, Luria, Thomas O'Malley, O'Malley, There's, Ben Reitzes Organizations: Nvidia, Investors, Microsoft, Apple, Bank of America, Google, Barclays, Taiwan Semiconductor Manufacturing Company, Melius Locations: FactSet

☆ Nvidia wants to work with the world's most powerful tech companies to make customized AI chips
▼ + stars: | 2024-02-09 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Nvidia is in talks with tech giants like OpenAI and Google to build custom AI chips. It's held talks with leaders from Meta, Microsoft, Google, and OpenAI to build custom chips for data centers, two sources told Reuters. AdvertisementAny move by Nvidia into the custom chip market bodes ill for other manufacturers. Nvidia isn't just trying to work with major tech companies. The company is also turning to its own AI to produce its own AI chips faster.

Persons: —, It's, Nvidia's, OpenAI, Greg Reichow, Dylan Patel, Nvidia isn't, Sam Altman, Jensen Huang, Aaron Mok Organizations: Nvidia, Google, Broadcom, Reuters, Service, Meta, Microsoft, Business, Marvell Technology, Eclipse Ventures, OpenAI, United Arab Emirates

☆ Fewer stocks are participating in this rally. History shows that bodes ill for future returns
▼ + stars: | 2024-02-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Despite the broad index continuing to move higher, the share of S & P 500 stocks above their 50-day moving average has fallen below 60%. That's a less-than-ideal sign, given the historical correlation between the percentage of stocks above the moving average and the S & P 500's performance one year later. The 50-day moving average finds the mean of the 50 most recent closing prices of a stock at any given point. Bespoke analyzed future returns for the S & P 500 every time it traded within 1% of a 52-week high going back to 1990. The S & P gains just around 6% on average, and is positive less than 65% of the time.

Persons: you'd Organizations: Investment, Nvidia, Microsoft

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Target, Amazon, Quest, Deckers, Alphabet & more
▼ + stars: | 2024-02-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Jefferies initiates Sprout Social as buy Jefferies said the social media software provider is a market leader. Morgan Stanley names Huntington Bancshares a top pick Morgan Stanley said it likes the regional bank's low exposure to commercial real estate. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on Nvidia to $750 per share from $603. Morgan Stanley downgrades Aptiv to underweight from equal weight Morgan Stanley said it sees slowing growth for the automotic tech company. Jefferies initiates ZoomInfo as buy Jefferies initiates the software data company with a buy and says it sees new customer growth.

Persons: Redburn, Key, it's, Gordon, Gordon Haskett, Jefferies, Steven Madden, Morgan Stanley, Huntington, Morgan Stanley downgrades Aptiv, Piper Sandler, Piper, Davidson, Goldman Sachs, Goldman, DA Davidson, it's bullish, Oppenheimer Organizations: Services, Bank of America, Google, Leerink, SPT, Citi, JPMorgan downgrades New York Community Bancorp, JPMorgan, Jefferies, Nvidia, Crown Holdings, Holdings, Civitas Resources, Corp, Vans, VF Corp, Bank of America downgrades, York Community Bancorp, New, Apple, Apple's Locations: F24E, New York

☆ GEHC stock finally gets some respect after earnings. Those betting against it got slammed
▼ + stars: | 2024-02-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Business at GE Healthcare Technologies capped off 2023 on a strong note despite ongoing concerns about China. The quarterly earnings result from GE Healthcare on Tuesday is the best of both worlds. Quarterly commentary In addition to the mid-single-digit organic revenue growth, total company orders increased by 3%. The continued divergence in orders between the two companies suggests GE HealthCare is taking market share in the industry. A GE Healthcare Ltd. BioProcess machine stands on display during the International Pharmaceutical Expo (Interphex) in New York.

Persons: Eli Lilly, GEHC, It's, Jim Cramer, Philips, we're, GEHC's, We're, Jim Cramer's, Jim Organizations: GE Healthcare Technologies, The, Starbucks, GE Healthcare, General Electric, GE HealthCare, Management, JPMorgan Healthcare, Federal Reserve, CNBC, GE Healthcare Ltd, International Pharmaceutical, Bloomberg, Getty Locations: China, ultrasounds, MRIs, New York

☆ Buy these top tech stocks before it's too late, Morgan Stanley says
▼ + stars: | 2024-02-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Palo Alto Networks Analyst Hamza Fodderwala said the firm's recent security checks show cyber threats remain a top priority for IT. That bodes well for Palo Alto in 2024 and beyond, according to Fodderwala. Further, Palo Alto is better positioned for AI than investors believe, Fodderwala added. Palo Alto is scheduled to report earnings in late February. But investor skepticism remains leaving Hettenbach to pound the table for RCM shares.

Persons: Morgan Stanley, James Faucette, Faucette, Hamza Fodderwala, Fodderwala, Craig Hettenbach, Hettenbach, Docebo Organizations: CNBC, Palo Alto Locations: Palo Alto, Docebo, Tenable, Palo, Hettenbach

☆ In cloud, there's AI (which is hot) and everything else (which is not)
▼ + stars: | 2024-02-01 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

There's an "AI Cloud" future that excites investors. So far, Microsoft is winning the "AI Cloud" future. There's the "AI Cloud" future, where Nvidia GPUs and large language models form the foundation of new generative AI services delivered and rented over the internet. Then there's the existing "Cloud 1.0" business, where CPUs and more traditional servers support apps, websites and other software services. Microsoft's Azure cloud business saw revenue grow 28% in its latest quarter (fiscal Q2, calendar Q4).

Persons: —, Mark Schilsky, Schilsky, Goldman Sachs, Bernstein Organizations: AWS, Microsoft, Service, Nvidia, Amazon, Services, Bernstein Research Locations: OpenAI

Research suggests that higher education correlates with higher earnings. In four states, more than 60% of working age people had some form of post-high school education – exceeding the foundation’s broader goal. Nevada landed at the very bottom of the list, with an educational attainment rate of 42.7%. In the most recent version of the rankings, Massachusetts, Colorado and Vermont were ranked the highest for educational attainment. Post-high school educational attainment percentages for Black, Hispanic, Latino and Native American adults were all far below the national average, according to the report.

Persons: ” Courtney Brown, “ Organizations: Lumina Foundation, Research, U.S . Bureau of Labor Statistics, Lumina Foundation’s, Census, Survey, Washington . Washington , D.C, Lumina, U.S . News, American Locations: Indiana, United States, U.S, Kentucky, Rhode Island, . Alabama , Colorado , Florida, North Carolina, Colorado, Massachusetts, Utah, Minnesota, Vermont, Virginia , New Jersey, Washington . Washington ,, Puerto Rico, Nevada, Alaska, Louisiana, Tennessee, Mississippi, Alabama, Arkansas, West Virginia

☆ The US economy is crushing it compared to other rich countries
▼ + stars: | 2024-01-31 | by ( Phil Rosen | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

US recession calls are still on the table, but the economy is still outpacing other rich nations. US GDP grew at a surprise 3.3% rate in the fourth quarter, beating estimates for 2.0%. The trend has held steady over the last several years, with the US leading in economic growth since the pandemic. Among countries that use the euro, the combined GDP grew at a 0.1% annualized rate in the third quarter of 2023. US GDP growth reflected increases in consumer spending, state and local government spending, and exports, among other increases, according to the BEA.

Persons: —, Russell Price, That's Organizations: Service, OECD, BEA, International Monetary Fund, Fed Locations: Canada, Italy, Japan, United Kingdom, France, Germany

☆ Cramer: Earnings take center stage this week, but don't sleep on the Fed and Treasury
▼ + stars: | 2024-01-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

It's ironic: We are at a moment where supply of money and demand for goods are intersecting. We have two markets: the Treasury market and the equity market, with the first more powerful than the second, even if we can't tell that in the scrum of earnings announcements. If the Fed signals more rate cuts, then we will be set up for higher stock prices if the companies deliver good earnings. The possibility of higher earnings so far has been controlled by supply and demand and the disinflation it is breeding, which may continue this week. Hence the power of their earnings to generate the mask of a higher market price-to-earnings ratio.

Persons: We've, Josh Frost, —, disinflation, Tesla, Amy Hood, McCormick, Costco's Kirkland, Jerome Powell doesn't, Price, it's, Dupont —, Dupont, Josh Frost —, Jim Cramer's, Jim Cramer, Jim, Jerome Powell, Brendan Mcdermid Organizations: Treasury, Federal Reserve, Devices, Microsoft, Apple, Financial Markets, Nvidia, Google, Walmart, Starbucks, Fed, Caterpillar, Boeing, Jim Cramer's Charitable, CNBC, New York Stock Exchange

☆ E. Jean Carroll says she's going to 'do something good' with the $83.3 million in defamation damages that Trump owes her: 'I'm not going to waste a cent'
▼ + stars: | 2024-01-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Donald Trump on Friday was ordered to pay $83.3 million to E. Jean Carroll in a defamation case. "I'm not going to waste a cent of this," Carroll told The New York Times in a Saturday interview. AdvertisementAfter a judge on Friday awarded E. Jean Carroll $83.3 million in defamation damages against former President Donald Trump, many thoughts went through her mind. Related storiesAfter the latest trial, Carroll said women were the true victors of the decision. Carroll told the Times she didn't know if that meant Trump might finally cease his attacks on her.

Persons: Donald Trump, Jean Carroll, I'm, Carroll, Trump, —, she'd, you've Organizations: The New York Times, Service, Saturday, New York Times, Times, Elle

☆ Jim Cramer says it's time for investors to take some profits, 'it's the disciplined thing to do'
▼ + stars: | 2024-01-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said the market's had a significant run, and it may be time to ring the register. Cramer reflected on the CNBC Investing Club's decision to sell all of the Charitable Trust's shares of Caterpillar . The trust bought Caterpillar stock in part due to the assumption the Fed would implement several rate cuts, which usually bodes well for industrials. According to Cramer, stock dips for PayPal and ServiceNow may signal losses for other stocks previously bolstered by AI initiatives. "It means you need to do some trimming, purely because your profits don't count until you ring the register."

Persons: CNBC's Jim Cramer, Cramer, Alex Chriss Organizations: CNBC, Caterpillar . Dupont, Caterpillar, PayPal

☆ Your 401(k), gas prices and homes: 3 surprising reasons to be happy — for now
▼ + stars: | 2024-01-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Consumer sentiment is surging. A tough housing market and exorbitant child care costs continue to bedevil budgets, but the inflation pendulum is finally swinging in the other direction. A slowly improving US housing marketAmerica’s housing market is still tough, but there are some subtle signs of improvement. Builder confidence surged in January, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index, climbing seven points to a reading of 44. It’s unclear when the Fed will begin to cut rates, and how many cuts there will ultimately be this year, but rate cuts in general mean even lower mortgage rates, further improving affordability.

Persons: vibing, aren’t, it’s, Anna Rathbun, ”, isn’t, bode, Joe Biden’s, ” James McCann, Biden, Alicia Huey Organizations: Washington CNN, Big Tech, Dow Jones, Nasdaq, CBIZ Investment Advisory Services, CNN, Fed, Apple, Meta, Microsoft, Nvidia, Tesla, of Michigan’s, AAA, National Association of Home Builders Locations: Wells Fargo

Publicly listed data company LiveRamp's $200 million acquisition of data clean room provider Habu looks set to fire the starting pistol for a more buoyant year of adtech and martech M&A, experts have predicted. He noted that while ad teams aren't using these clean rooms en masse, many have activated them, which bodes well for the Habu acquisition. ID5's technology is deployed by the most online publishers of any identity service, according to Sincera , which measures which adtech companies are used across the industry. LiveRamp, also, could be an acquisition target, Salmon noted, as it builds out new data offerings like the clean rooms it will inherit from Habu. But not everyone is predicting the Habu acquisition will necessarily lead to an influx of M&A around cookieless adtech.

Persons: Conor McKenna, Luma's McKenna, Shailin Dhar, Dhar, Mathieu Roche, who've, InfoSum, Myles Younger, Dan Salmon, Wayne Blodwell, ID5, Roche, " Roche, Salmon, Elgin Thompson, hasn't, Thompson Organizations: Business, LUMA Partners, FIT Holdings, Companies, New, Research, Impact Media, Citizens JMP Securities, Walmart Locations: adtech, LiveRamp, Habu

☆ Are companies beyond Nvidia actually profiting from AI yet? Microsoft earnings to be litmus test
▼ + stars: | 2024-01-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Microsoft earnings due out later this month could serve as the next major test for artificial intelligence as investors hunt for signs that the buzzy technological innovation is actually boosting companies' bottom lines. Nvidia has been an exception, blowing past Wall Street's guidance for the past few quarters due to AI tailwinds . The remarks led some Wall Street analysts to fret over a delayed ramp-up in AI availability. "There are going to be some outliers, but for the most part there is more risk-reward related to AI going into this earnings period." More loosely, Wall Street analysts have expressed concerns about AI monetization and expectations across the sector heading into the fourth-quarter reporting period.

Persons: Paul Meeks, Merrill Lynch, Piper Sandler, OpenAI, Amy Hood, Copilot, Micrsoft, Meeks, Amy Kong, Nancy Tengler, Gene Munster, Corient's Kong, Wolfe, Alex Zukin, Dubravko, Michael Bloom Organizations: Microsoft, Merrill, Merrill Lynch Investment, Nvidia, Wall, Baker School of Business, The, Investments, Asset Management, Munster, Wall Street, Tech Locations: OpenAI, hasn't

KANSAS CITY, Mo. Mahomes will try something entirely new Sunday night, though, when he leads the Kansas City Chiefs into Buffalo for the divisional round of the playoffs. He threw for 225 yards and two TDs in leading Kansas City to a 26-17 win that day. 2 seed and that relegated Kansas City to the No. In those two games, Mahomes completed 76% of his throws for 703 yards with six TD passes, no picks and a touchdown run.

Persons: — Patrick Mahomes, Mahomes, ”, “ I've, Kadarius Toney, Travis Kelce lateraled, Toney, He's, “, Andy, Reid, ” Mahomes, ” Reid, “ That's, he's, Josh Allen, “ They've, Cam Jones, Derrick Nnadi, LT Wanya Morris, Justyn Ross, Skyy Moore, Moore, ___ Organizations: KANSAS CITY, NFL, AFC, Kansas City Chiefs, Bills, Highmark, Kansas City, Chiefs, Dolphins, Buffalo, Arrowhead, Miami Locations: KANSAS, Mo, Buffalo, Arrowhead, Kansas, ”

☆ Germany, Europe’s biggest economy, shrank last year
▼ + stars: | 2024-01-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

Gross domestic product was 0.3% lower in 2023 than in the previous year, according to Germany’s Federal Statistical Office (Destatis). “Overall economic development faltered in Germany in 2023 in an environment that continues to be marked by multiple crises,” Destatis president Ruth Brand said in a statement. GDP in the fourth quarter also fell by 0.3% on the previous quarter, according to a prelininary estimate from the statistics office. Although inflation has eased, prices remain high throughout the economy and have put a damper on economic growth, Brand added. Output in the euro area shrank slightly in the third quarter of 2023.

Persons: ”, Ruth Brand, Brand Organizations: London CNN, Gross, Federal, Office Locations: Germany

☆ 16 VCs that are funding the future of entertainment by backing generative AI and other disruptive tech
▼ + stars: | 2024-01-12 | by ( Lucia Moses | ) www.businessinsider.com time to read: +17 min

AdvertisementAfter a period of "wild west" investing in AI, Blank believes activity will favor AI companies that respect artists' consent and compensation. It recently co-led a $1 million seed round in Conduiit, which centralizes entertainment companies' production finance operations. Endeavor Venture InvestmentsEndeavor Venture Investments is the venture arm of entertainment and sports behemoth Endeavor. SWaN & LegendThe Virginia-based VC firm has a broad consumer portfolio that includes a number of entertainment investments. With Hollywood in contraction, SWaN has largely hit pause on new entertainment investments to get its portfolio companies on a strong footing.

Persons: Michael Blank, Blank, Jon Miller, Miller, Slack, Garnet Heraman, BDMI, Urs Cete, Michael, TMRW, Tiger Woods, Rory McIlroy, Elysian Park Ventures Jay Adya, Grant Lamos, Tom Brady, Gotham Chopra, Michael Strahan, Jay Adya, Morgan, Kushaan Ahuja, Drew Glover, Glover, Alex Harris, they've, Noah Doyle, Payback India, Jed Katz, Rich Greenfield, Rich, Ilya Pozin, Jamie Seltzer, LightShed, Steve Cohen's, it's, Sri Chandrasekar, Tripp Shriner, Ishan Sinha, That's, Wondery, Ian Doody, Raine, Gordon Rubenstein, Joe Ravitch, Jeff Sine, ‐, Fred Schaufeld, SWaN, that's, Oscar, Jose, Schaufeld, Sam Wick, Alex J, Investcorp, Paul Yoo, Edgar Bronfman Jr, Daniel Leff, Waverley, Leff Organizations: Service, Creative Artists, Connect Ventures, Business, Hollywood, Veteran, TPG, Integrated Media Co, Advancit, CAA, Bertelsmann, Waverley, Octopus Ventures, Accel, Facebook, Venture, Aperture Venture, Bertelsmann Digital Media Investments, Fremantle, Connect, CAA Connect Ventures, New Enterprises Associates, TMRW Sports, Disney, Universal, Elysian Park Ventures, Elysian, Sports, Endeavor Venture, Endeavor Venture Investments, behemoth Endeavor, Dapper Labs, Fiat Ventures, Fiat Ventures Fiat Ventures, Fiat, Payback, Rent, LightShed, Rich Greenfield Influential, LightShed Ventures, Pluto, Apple, Octopus Ventures Octopus Ventures, Investments, Corp, Etsy, Re, Point72 Ventures New York Mets, Range Media Partners, Point72 Ventures, Sri, Powerhouse, Athletic, The New York Times Co, Evolution Media, Creative Artists Agency, Astro, Rave Digital Media, Accel Entertainment, Jose Andrés Media, Berliner, UTA Talent, UTA, UTA Ventures, Ventures, VR, Amazon, PFL Locations: blockchain, —, Conduiit, fintech, London, Australia, Papercup, Los Angeles, Virginia, UTA.VC

☆ Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch
▼ + stars: | 2023-12-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter.

Persons: Dan Lyons, Janus Henderson, John Newman, Canaccord Genuity, Janus, Lyons, Bristol Myers Squibb, Karuna, AstraZeneca, Eli Lilly, AbbVie, Jonathan Miller, Miller, bode, Jonathan Krinsky, Krinsky, BTIG's, Jefferies, Michael Yee, Yee, NASH, Madrigal, we're, David Risinger, — CNBC's Michael Bloom Organizations: Drug, Federal, Bristol Myers, Karuna Therapeutics, CART, Bristol Myers Squibb, Cerevel Therapeutics, Securities and Exchange Commission, pharma, P Biotech, Nasdaq Biotech, Apogee Therapeutics, Madrigal Pharmaceuticals, Madrigal, resmetirom, Vertex Pharmaceuticals, Leerink Partners Locations: ImmunoGen

☆ Here are 7 portfolio stocks that can benefit from bigger tech budgets in the age of AI
▼ + stars: | 2023-12-12 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

In aggregate, the survey results point to a 60 to 70 basis point acceleration for IT spending growth in each of the next three years, with cloud spending growth much stronger at 150 to 300 basis points. Cloud and AI A rebound in cloud growth is expected thanks in large part the renewed focus and need to invest in artificial intelligence. In fact, 73% of the CIO respondents said they are "implementing now, plan to implement, or are testing generative AI." 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: Piper Sandler's, Piper, OpenAI, Einstein, Jim Cramer, Jim Cramer's, Jim, Chino Organizations: Microsoft, Web Services, Google, IBM, Oracle, Nvidia, Piper, Broadcom, Marvell Technology, VMWare, Cybersecurity, Palo Alto Networks, Broadcom —, CNBC Locations: Silicon Valley, America

Read previewThe firing and rehiring of OpenAI CEO Sam Altman has undone months of effort by Microsoft to avoid antitrust regulators probing its massive investment in the startup. It's tough to keep a huge business partnership like this out of what can be intense scrutiny from antitrust regulators. Nadella agreed to give Altman and Brockman their own research arm at Microsoft, if he couldn't negotiate their return to OpenAI. Another interpretation is that Microsoft is keen to show antitrust regulators that OpenAI is an independent company, and not controlled by the software giant. AdvertisementDo you work for OpenAI or Microsoft, or are you someone with a tip or insight to share?

Persons: —, Sam Altman, Lina Khan, OpenAI, Altman, Satya Nadella, Kevin Scott didn't, Kevin, Satya, Microsoft's, Brad Smith, Frank Shaw, Sam, Nadella, Altman's, Greg Brockman, Brockman, Amy Hood, ChatGPT, doesn't, Kali Hays, Ashley Stewart, Darius Rafieyan Organizations: Service, Microsoft, Business, FTC, OpenAI, Activision, Blizzard, Markets, Bloomberg, Chief Locations: OpenAI, khays@insider.com, astewart@insider.com

“Each decade since the 1990s has been warmer than the previous one and we see no immediate sign of this trend reversing,” its secretary-general, Petteri Taalas, said. Experts are divided about one of the most important metrics: The rate of warming. University of Pennsylvania climate scientist Michael Mann has argued warming has been steadily increasing since 1990, but isn't speeding up. He warned that such warming is fueling increasingly dangerous extreme weather events, coastal flooding and many other “disastrous” impacts. Glaciers in Papua, Indonesia are likely to disappear altogether within the next decade,” WMO said.

Persons: Petteri Taalas, James Hansen, Michael Mann, ” Mann, ” Organizations: United Arab Emirates, United Nations, World Meteorological Organization, WMO, NASA, Warming, University of Pennsylvania, ” WMO, AP Locations: DUBAI, United Arab, Dubai, Papua, Indonesia, “, Africa, Kenya, Kilimanjaro, Greenland, Antarctica

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