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Read previewNvidia cofounder and CEO Jensen Huang is in Taiwan this week, where he's getting rockstar reception and boosting the stock market. The drills started on Thursday, but Taiwan's stock market was little changed over the period. "In this case, the AI equity theme, physical investment in AI, and the wider upturn in electronic component demand are driving robust Taiwanese growth and the strong stock market performance," wrote Green. He added that an outright invasion of Taiwan by China is "very unlikely" due to high military and economic risk. "If the macro backdrop is positive and China remains far from achieving 'fortress-like' economic conditions, future sell-offs may offer attractive buying opportunities," Green wrote.
Persons: , Jensen Huang, Huang, Li Xi, Morris Chang, Lisa Su —, Pat Gelsinger, Cristiano Amon, Rene Haas, Rory Green, It's, Green Organizations: Service, China's People's Liberation Army, Business, Local, rockstar, Asus, AMD, Qualcomm, Semiconductor, PLA, Investors, Philadelphia Stock Exchange, Nvidia Locations: Taiwan, China, Beijing, TSMC, Taipei, Taiwan's, GlobalData.TS, Ukraine, Russia
Salesforce stock plunged 21% after the company reported its first revenue miss since 2006. AdvertisementSalesforce stock plunged as much as 21% on Thursday after the company reported its first revenue miss since 2006. Here are the key numbers:AdvertisementQ1 Revenue: $9.13 billion, versus analyst estimates of $9.17 billion$9.13 billion, versus analyst estimates of $9.17 billion Q1 Adjusted earnings per share: $2.44, versus analyst estimates of $2.38$2.44, versus analyst estimates of $2.38 Q2 Revenue guidance: $9.2 billion to $9.25 billion, versus analyst estimates of $9.37 billion"Macro headwinds returned with a vengeance," analysts at Citi said in a note on Thursday. AdvertisementGoldman Sachs reiterated its "Buy" rating on Salesforce and categorized the weakness in the company's results as "cyclical headwinds" that should ultimately dissipate. AdvertisementCiti reiterated its "Neutral" rating and took a more cautious view on Salesforce following their results.
Persons: , Goldman Sachs, Dan Ives, Ives Organizations: Service, Citi, Bank of America, Sales
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: Beyond Nvidia: Outperforming fund manager reveals the top AI stocks to buyClare Pleydell-Bouverie, who co-manages Liontrust Asset Management’s global tech, innovation and dividend funds, revealed her favorite ways to play the themes of artificial intelligence, Big Tech and more.
Persons: Clare Pleydell Organizations: Big Tech
As the hype surrounding artificial intelligence shows no signs of abating, one tech fund manager is set to reveal her top ways to play the AI theme. On Wednesday's Pro Talks, Pleydell-Bouverie — who co-manages Lionstrust's global tech, innovation and dividend funds — will name companies that are "selling the picks and shovels for AI" and are "already making money." Pleydell-Bouverie manages the Liontrust Global Innovation, Liontrust Global Dividend and Liontrust Global Technology funds. Over the year to the end of March, all three funds have beaten their benchmark indexes, with the Liontrust Global Technology Fund rising 51.9%, compared to the MSCI World Information Technology Index's 39.1%. Learn more from our previous Pro Talks: Should investors buy the dip in Lululemon?
Persons: Clare Pleydell, Bouverie —, Bouverie Organizations: Liontrust, Management, Big Tech, Tech, Liontrust Global Technology, Liontrust Global Technology Fund, Technology, CNBC, Nvidia Locations: London, Singapore
"We need much more European big players, and I think Mistral AI can be one of them," Macron said of France's leading AI company. Macron also praised H, the newly launched French AI startup that announced this week it had raised a massive $220 million from its initial round of financing. He compared allowing American tech giants to operate under U.S. regulations while in Europe, to allowing a French bank in the United States to ignore American banking regulations. When it comes to China, however, Macron implied that he thought some U.S. tech regulations had gone too far. "Look, I think China is a competitor when you speak about trade, innovation and economy.
Persons: Emmanuel Macron, Macron, CNBC's Andrew Ross Sorkin Organizations: France —, Microsoft, CNBC, European, EU Artificial Intelligence, European Union, Google, TikTok Locations: PARIS, France, France — Europe, China, United States, U.S, Paris, Mistral, Europe, Washington, Brussels
Read previewIt took Lusely Martinez and her team 50 days to fill a software engineering role for a global tech company. "This role was for a level three software engineer, with full-stack expertise and knowledge of specific programming languages," Martinez told Business Insider. Martinez used an applicant tracking software to screen out candidates who didn't meet the job's basic requirements. Recruiter screening callThe hiring manager selected 43 candidates for a recruiter screen —1.28% of the total applicants. "Do your due diligence: read the job posting thoroughly before applying to ensure you are a good match," she said.
Persons: , Lusely Martinez, Martinez, they've, it's Organizations: Service, Business, BI Locations: generalities
Walmart's chief people officer, Donna Morris, commented similarly in a memo announcing the layoffs and relocations earlier that week. She wrote that working in an office would help workers collaborate, innovate, and "move even faster." Still, some employees continued working remotely, and several satellite offices remained open in cities like Atlanta, Dallas, Toronto, and Seattle. He also said he doesn't think the company is using this RTO mandate as a cover for achieving cost savings through workforce reductions, commonly referred to as "quiet firing," but that it's more part of Walmart's ethos. For the remote worker BI spoke with, the next few weeks will be filled with uncertainty.
Persons: , it's, Sam Walton, Nelson Lichtenstein, Doug McMillon, Donna Morris, Morris, Suresh Kumar, Walmart's, Kumar, Kelli Oakes, she'd, I'm, Oakes, Lichtenstein, there's, Gartner Organizations: Service, Walmart, Business, University of California, Executives, BI, Home, LinkedIn, Walmart Global Tech, Sam's Club, UC Locations: Arkansas, Bentonville , Arkansas, New York, San Francisco, Santa Barbara, Bentonville, Atlanta, Dallas, Toronto, Seattle, Bay, Hoboken , New Jersey, South Carolina, Northwest Arkansas
Dell started monitoring attendance on May 6 and will make the data visible on each hybrid employee's profile on HR platform Workday this week. Dell's memo states: "As the next step in implementing our Hybrid Work Policy, we will track onsite presence using badge swipes for hybrid-designated team members." The color by their name will be considered for performance evaluations, rewards, and compensation, Dell told employees. Staff who opted to remain remote during the company's overhaul of its hybrid work policy, which was first announced in February, will not be monitored. AdvertisementDell's HQ in Round Rock Texas, where staff attendance will be monitored.
Persons: , Michael Dell, Dell, Brandon Bell Organizations: Service, Business, Dell, Dell Technologies, Staff, BI, Google, Deutsche Bank Locations: Round Rock
Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The majority of employees working remotely and in offices in Dallas, Atlanta and Toronto have been asked to relocate. Walmart is the nation's largest private employer with about 1.6 million employees, most of whom work at its stores across the country. Walmart has another reason to bring more employees to Bentonville: It is building a nearly 350-acre campus there. In February 2022, we made the decision to bring Home Office associates back into our campus offices.
Persons: Donna Morris Organizations: Walmart, Walmart Health, Street Journal, Home Office, Toronto Global Tech, Office Locations: Arkansas, Bentonville , Arkansas, Dallas , Atlanta, Toronto, San Francisco Bay, Hoboken , New Jersey, Arkansas , Florida, Georgia , Illinois, Texas, Bentonville, Morris, Hoboken, New York
U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta , Alphabet and Amazon in particular having a strong showing over the past couple of weeks. Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector. Kevin Liu, managing director and strategist at CICC Research, said his conviction call would be a structural barbell allocation with themes including tech names "with high-end upgrading opportunities," among others. Stock screen Against this backdrop, CNBC Pro screened FactSet for stocks from four exchange-traded funds (KraneShares CSI China Internet ETF, Vanguard Information Technology ETF, Invesco China Technology ETF and the iShares MSCI China Multisector Tech ETF) to find stocks that: have beaten the S & P 500's around 9% year-to-date performance.
Persons: Bernstein, Kevin Liu Organizations: Dow Jones, Tech, UBS, CICC Research, CNBC Pro, CSI China Internet, Vanguard Information Technology, China Technology ETF, China Multisector Tech Locations: China
“The communication satellite is very important for our communication resilience during urgent periods,” Wu said, calling it his agency’s most sensitive project. Taiwanese authorities previously announced the space agency would develop two communication satellites, the first of which could be launched by 2026. Wu Jong-shinn, director general of the Taiwan Space Agency, speaks to CNN on March 5, 2024 in Hsinchu, Taiwan. In the future, Taiwan’s satellite system could replace third-party deals, but Wu, the space agency director, declined to provide more specific details about the project’s timeline. A rocket model in development at the Taiwan Space Agency on March 5, 2024 in Hsinchu, Taiwan.
Persons: Taiwan CNN —, Wu Jong, shinn, Elon, Wu, ” Wu, ” Starlink, Heidi Levine, John Mees, CNN Brad Tucker, you’re, , Su, yun, OneWeb, Sam Yeh, Lai Ching, Tsai Ing, Taiwan’s, , CNN’s Will Ripley Organizations: Taiwan CNN, Taiwan Space Agency, CNN, Musk’s SpaceX, SpaceX, Ukrainian, The Washington Post, Communist Party, Institute for National Defense and Security Research, Australian National University, Taiwan’s Institute for National Defense and Security Research, Getty, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Triton Locations: Hsinchu, Taiwan, China, Gaza, Beijing, London, Xiamen, Taiwan's, AFP, Guiana, South America
With many companies maintaining the "efficiency" mindset, and hiring for tech jobs remaining low, according to the iCIMS Insights April 2024 Workforce Report, innovation is at risk. Madan says companies tend to act based on fear of missing out, but this behavior can stall technological innovation. This process can be messy, which is why experts say any conversation centered around efficiency must also include innovation. Digital transformation is a core pillar of business strategy for 84% of technology and business leaders, according to the TEKsystems report. On the innovation front, he added, "The best organizations are the ones that synthesize human input with AI collaboration."
Persons: It's, Mark Zuckerberg, Ricardo Madan, they've, Zuckerberg, Madan, Chris Duffey, Duffey, Duffy Organizations: Meta, IBM, Tech, Adobe, Google, Bureau of Labor Statistics Locations: Menlo Park, Meta, California, TEKsystems, U.S
The internally developed AI technology allows Walmart employees to scan produce like bananas to see how ripe the product is. Many clothing items are not recyclable, due to being made of blended fabrics. U.S. residents also discard about 11.3 million tons of clothing waste each year, according to Earth.org. Walmart isn't alone in using AI to tackle in-store waste, as several startups are creating tools to solve this growing problem. "When it comes to food waste, there is no silver bullet," said ReFED's executive director Dana Gunders, which has worked with Walmart for a few years on food waste solutions.
Persons: it's, Swati Kirti, Kirti, It's, UCLA Anderson, Sravana Karnati, Dana Gunders, Homer Swei, Swei, Karnati Organizations: Walmart, Walmart International Tech, UCLA, Walmart International Technology, Walmart Global Tech, Retailers Locations: Canada, U.S, United States, Mexico
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMagnificent 7 is not a monolith in this stock picker's market, says Alison PorterAlison Porter, Portfolio Manager of the Global Technology Fund at Janus Henderson, discusses mega-cap tech earnings, including upcoming results from Apple and Amazon.
Persons: Alison Porter Alison Porter, Janus Henderson Organizations: Global Technology Fund, Apple
Not only would that deal another huge blow to China’s tech ambitions, it would further deepen the divide between two digital worlds centered around the rival economic superpowers. Congress on Tuesday approved legislation that could compel ByteDance to sell TikTok or face a national ban. That leaves few options for ByteDance to secure the future of TikTok in the US, its biggest market with 170 million users. “This includes everything from who owns and operates data centers, to space-based internet satellites, to undersea cables and, of course semiconductors.”In that sense, the TikTok ban has its silver lining for Beijing. Growing challenges for Chinese appsThe TikTok legislation was included in a wide-ranging foreign aid package meant to support Israel, Ukraine and Taiwan.
Persons: Hong Kong CNN —, ByteDance, Joe Biden, TikTok, , , Alex Capri, Richard Windsor, Capri, Biden, Paul Triolo, ” Triolo, Wang Wenbin, CNN’s Marc Stewart, Triolo doesn’t, — CNN’s Wayne Chang, Marc Stewart Organizations: Hong Kong CNN, Foundation, National University of Singapore’s Business, YouTube, Google, Radio Free Mobile, TikTok, Technology, Albright, Commerce Department, Commerce, China’s, Foreign Ministry, Facebook, Apple Locations: China, Hong Kong, America, Beijing, Capri, , Asia, Israel, Ukraine, Taiwan, Silicon Valley, American, Bytedance, “ Beijing
Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system. "Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design." "Mining isn't accessible to everyone," Dorsey wrote when Block first entered the business of building mining hardware in 2021. "Bitcoin mining should be as easy as plugging a rig into a power source. The company was light on the details in this latest announcement, but Dorsey posted in 2021 that the company was considering a "bitcoin mining system based on custom silicon."
Persons: Jack Dorsey, We've, Dorsey, Block, Thomas Templeton Organizations: Mining Locations: China, Kenya, Malawi, Zambia
AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. Alat has already partnered with several global leaders in advanced manufacturing to work together on these challenges. Alongside advanced technology, another critical element of Alat is the use of clean energy and sustainable practices to become a leader in sustainable manufacturing. Alat will also implement sustainability best practices into every facet of its processes, which integrate the most up-to-date industry 4.0 thinking to enable sustainable manufacturing. Through the combination of advanced technology, best practices, and commitment to sustainability, Alat is reimagining manufacturing, for a better tomorrow.
Persons: Alat Organizations: Saudi Arabia's Public Investment Fund, Alat, SoftBank Group, Saudi, Sustainable Technology, Insider Locations: Saudi, Saudi Arabia
Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference. After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. Related story"Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&A," according to Greenberg.
Persons: Jefferies, , Cameron Jefferies, Jason Greenberg, Greenberg, Goldman Sachs, David Solomon, Reddit, Marc Andreessen, Rich Handler, Andreessen Horowitz, Neerav, Goldman, JP Morgan Chase, we've, Lester Organizations: Service, Jefferies Private Internet Conference, Technology, Media, Telecom Investment Banking, Jefferies, Global Technology, Informatica, Epic, Venture, Jefferies Private Locations: Neerav Kingsland
Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.
Persons: , hasn’t, Jerome Powell, , , Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing
Apple (AAPL) has already spent almost $16 billion through its supply chain in the country since 2019, the government quoted Cook as saying. According to the statement, Cook said Apple “stands ready … to enhance cooperation and investment activities” in the Southeast Asian country. Nguyen, whose firm manages $6 billion in assets, told CNN that labor costs in Vietnam’s manufacturing sector are about half those in neighboring China. That’s a big draw for foreign tech companies looking to hire workers for their factories, and find consumers for their products. Still, Vietnam represents a far smaller market than India, which has also been wooing large foreign companies, including Tesla (TSLA), to set up factories in the country.
Persons: Tim Cook, Pham Minh Chinh, Cook, Apple “, Thuy Anh, Nguyen, Dan Ives, “ We’re, , , Tuan Hung, Ho, That’s, Ives, Juliana Liu Organizations: London CNN, Apple, Vietnamese, Dragon, CNN, country’s Ministry of Planning, Investment, Wedbush Securities, Intel, Consumer, Monetary Fund Locations: Vietnam, China, Hanoi, Beijing, India, United States, Ho Chi Minh City, Washington, That’s, Europe
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailT. Rowe Price's Dom Rizzo says he's not worried about near-term pullback in techDom Rizzo, T. Rowe Price Global Technology Equity Strategy Portfolio Manager, joins 'Closing Bell Overtime' to talk the NASDAQ underperforming and what is behind it.
Persons: Rowe Price's Dom Rizzo, he's, Dom Rizzo, Rowe Organizations: Rowe Price Global Technology Equity
In Europe — much like in the U.S. — a few key stocks have been driving the market, especially earlier this year, according to Morgan Stanley. In late February, just five stocks were responsible for 60% of European stock market gains year-to-date, the bank said. The company has grown into one of the largest, most integrated payment providers, Morgan Stanley said. Exclusive Networks Morgan Stanley says this is one of the largest and fastest-growing specialist distributors of cybersecurity products globally. The nature of threats is constantly changing, and so the products offered by the vendors – and the vendors themselves – are constantly changing," Morgan Stanley said.
Persons: Morgan Stanley, CompuGroup Morgan Stanley, Networks Morgan Stanley, — CNBC's Michael Bloom Organizations: Solutions, Networks Locations: Europe, U.S, , Germany, France, Austria
How India is challenging China as Asia's tech powerhouse
  + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +30 min
New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?
Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany
American chip giant Intel in December 2021 said it will invest more than $7 billion to build a chip packaging and testing factory in Malaysia, with production expected to begin in 2024. Malaysia holds 13% of the global market for chip packaging, assembly and testing services, said the Malaysian Investment Development Authority in a Feb. 18 report. Exports of semiconductor devices and integrated circuits increased by 0.03% to 387.45 billion Malaysian ringgit ($81.4 billion) in 2023, amid global chip demand weakness. Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said many Chinese firms diversified some of their production to Malaysia, calling the country China's "plus one." In the same month, the world's largest contract chip maker TSMC opened its first Japan factory as it diversifies away from Taiwan amid U.S.-China tensions.
Persons: Faris Hadziq, Kenddrick Chan, Aik Kean Chong, Intel's, Tan, Yinglan Tan, Datuk Seri Wong Siew Hai, Zafrul Aziz, TSMC, Ann Lim Organizations: Getty, Malaysia, LSE, London School of Economics, Political, Semiconductors, Intel, CNBC, Infineon, Ventures Partners, Malaysian Investment Development Authority, Malaysian, Malaysia Semiconductor Industry, U.S ., U.S, China -, Partnership Locations: KUALA LUMPUR, MALAYSIA, Malaysia, Kuala Lumpur, South, East Asia, China, U.S, American, Penang, Another U.S, Singapore, Europe, Kong, GlobalFoundries Singapore, Klang, India, Japan, Taiwan, South Korea, Washington, Asia, China - U.S
BOSTON (AP) — In a scathing indictment of Microsoft corporate security and transparency, a Biden administration-appointed review board issued a report Tuesday saying “a cascade of errors” by the tech giant let state-backed Chinese cyber operators break into email accounts of senior U.S. officials including Commerce Secretary Gina Raimondo. It concluded that “Microsoft's security culture was inadequate and requires an overhaul" given the company's ubiquity and critical role in the global technology ecosystem. Three think tanks and four foreign government entities, including Britain's National Cyber Security Center, were among those compromised, it said. Separately, the board expressed concern about a separate hack disclosed by the Redmond, Washington, company in January — this one of email accounts including those of an undisclosed number of senior Microsoft executives and an undisclosed number of Microsoft customers and attributed to state-backed Russian hackers. The board lamented “a corporate culture that deprioritized both enterprise security investments and rigorous risk management.”The Chinese hack was initially disclosed in July by Microsoft in a blog post and carried out by a group the company calls Storm-0558.
Persons: Biden, Gina Raimondo, , Nicholas Burns, Alejandro Mayorkas, Redmond, Morgan Stanley Organizations: BOSTON, Microsoft, State Department, Microsoft Exchange, U.S, Cyber Security, Homeland, Storm, Google, Yahoo, Adobe, Dow Chemical Locations: China, Washington, Russian
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