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Former Blizzard president Mike Ybarra said Thursday on social media platform X he would be leaving Microsoft and Blizzard. Activision Blizzard is the publisher and developer of several massive gaming franchises, including Call of Duty and Diablo. Microsoft's $69 billion acquisition of Activision Blizzard was the company's largest ever acquisition, more than double the size of its 2016 purchase of LinkedIn. Unlike the Microsoft layoffs, eBay and SAP saw a significant bump in their share prices following their announcements. Read the full memo below:It's been a little over three months since the Activision, Blizzard, and King teams joined Microsoft.
Persons: Phil Spencer, Mike Ybarra, Spencer, Activision Blizzard, Candy, It's, we'll, I'm, Phil CNBC's Steve Kovach Organizations: Microsoft, CNBC, Activision Blizzard, Former, Blizzard, Activision, LinkedIn, Tech, Games, eBay, SAP, King, Microsoft Gaming, Leadership Team, Xbox
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSAP will offer buyouts or different roles to about 8,000 workers in a restructuring plan related to the rapid rise of artificial intelligence. The new plan comes as SAP reported better-than-expected earnings, with revenue for its key cloud business expected to rise by about a quarter. SAP has been trying to incorporate AI solutions into its products, and has also invested about $1 billion in AI enterprise startups. It joins the slew of big tech companies, including Google and Microsoft, in making changes to their workforce following the rapid rise of AI.
Persons: , Christian Klein Organizations: Service, Business, SAP, Staff, Google, Microsoft
An employee works in an office at the SAP SE campus in Walldorf, Germany. Shares of German software company SAP jumped to an all-time high in early deals Wednesday after the company released its latest financial results and announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth. SAP shares were trading up 7% by 8:30 a.m. London time. "SAP will further increase its focus on key strategic growth areas, in particular Business AI. It also intends to transform its operational setup to capture organizational synergies, AI-driven efficiencies and to prepare the company for highly scalable future revenue growth," the company said.
Organizations: SAP Locations: Walldorf, Germany, London
Netflix — Netflix's stock price jumped 9.2% after topping analysts' revenue and subscriber growth expectations during the fourth quarter. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025.
Persons: SAP's, Dupont, Tesla, , Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Netflix, Texas, SAP, Dupont de Nemours, EBay, NewStreet Research, AMD
Netflix – The streaming stock popped nearly 13% after topping fourth-quarter revenue estimates and posting strong subscriber growth. Revenue topped expectations and AT & T added more subscribers than anticipated, but the company forecasted lower-than-expected adjusted earnings for 2024. The company guided for fourth-quarter revenue of $2.90 billion, under the $3 billion expected by analysts surveyed by FactSet. Abbott posted adjusted earnings that came in line with the consensus estimate of analysts polled by FactSet at $1.19 per share. The firm also told investors to anticipate full-year adjusted earnings between $4.50 and $4.70 per share, a range that includes the $4.63 per share analyst forecast.
Persons: ASML, DuPont preannounced, DuPont, Kimberly, Clark, Clark's, LSEG, Abbott, CNBC's Michelle Fox, Hakyung Kim, Lisa Kailal Han, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Netflix, StreetAccount, New Street Research, AMD, Spotify, Texas, SAP, DuPont de Nemours, DuPont, FactSet, Elevance Health, Abbott Laboratories, Wall Street Locations: Europe
Hong Kong CNN —One of Europe’s most valuable companies is restructuring 8,000 jobs as it joins a growing list of firms shifting their focus to artificial intelligence. SAP (SAP), the enterprise software giant, announced Tuesday that it would spend €2 billion ($2.2 billion) this year on the transformation, including buyouts and retraining programs. “The majority of the approximately 8,000 affected positions is expected to be covered by voluntary leave programs and internal re-skilling measures,” SAP said. Last summer, it announced investments in three generative AI companies, adding to a pledge to invest more than $1 billion to fund AI-powered enterprise tech startups. Many US tech firms have also announced large investments in AI as they kick off sweeping reorganizations.
Persons: Christian Klein, Alibaba Organizations: Hong Kong CNN, SAP, Wipro, Huawei, US Locations: Hong Kong, New York
TravelPerkBarcelona-based startup TravelPerk, which helps automate corporate travel and expenses, has raised $104 million in fresh funding from Japanese tech investing giant SoftBank and a flood of other names, to invest in artificial intelligence development and new products. SoftBank invested $70 million in TravelPerk's latest round, which the company said was an extension of its "D-1" funding round. The fundraising round shows SoftBank is placing a major bet on a company driving disruption in corporate travel through new technologies, such as AI — which has seen significant buzz since the November 2022 launch of OpenAI's ChatGPT. Whereas many travel agents operate on low single digits gross margins, Meir says that TravelPerk's profit margin stood at 60% last year. TravelPerk competes with American Express, BCD Travel, SAP Concur and Navan in the corporate travel management space.
Persons: Avi Meir, TravelPerk, Felix, SoftBank, that's, Meir, Roy Hefer Organizations: SoftBank Vision, Felix Capital, American, CNBC, American Express, SAP Locations: TravelPerk Barcelona, Navan, U.S
The Food Network star Katie Lee Biegel lives with her husband and 3-year-old daughter in New York. A look inside Katie Lee Biegel's fridge. KetchupKatie Lee Biegel has a lot of ketchup in her fridge. Milo's sweet teaBiegel's Southern roots still run deep, and she has two large bottles of sweet tea in the fridge to prove it. Bitchin' Sauce, Tyler Le/BIBiegel is "obsessed with Bitchin' Sauce," which she uses as a dip and a condiment.
Persons: Katie Lee Biegel, Rao's jarred, , Ryan, Katie Lee, Tyler Le, she's, it's, she'll, Rao's, she'd, chow chow, Chow chow, Biegel, Hatch Organizations: Food, Service, Heinz, America, Union Square Farmers, New Locations: New York, New York City, The West Virginia, West Virginia, jalapeños, Brussels
EBay said Tuesday that it plans to lay off 9% of the company's workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. Iannone said the job cuts are necessary because eBay's "overall headcount and expenses have outpaced the growth of our business." Following hefty job cuts last year, tech companies have continued to eliminate positions in January as concerns about consumer and business spending persist. Regarding eBay's cuts, Iannone said he wants employees to work from home on Jan. 24, "to provide some space and privacy for these conversations." EBay shares dropped about 4% in November after the company provided fourth-quarter revenue guidance that trailed Wall Street estimates.
Persons: Jamie Iannone, Iannone, Jim Cramer Organizations: EBay, SAP, eBay, Wall Locations: downsize, Europe
SAP CEO Christian Klein speaks at a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024. SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That was above the consensus of 8.33 billion euros among analysts polled by LSEG. WATCH: SAP CEO says 2024 will be year AI moves from discovery to execution
Persons: Christian Klein, Klein, Jennifer Morgan, Bill McDermott, LSEG Organizations: Economic, SAP, Nasdaq, Adobe, Microsoft, Oracle Locations: Davos, Switzerland, German
Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago
SAP CEO: 2024 will be year AI moves from discovery to execution
  + stars: | 2024-01-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO: 2024 will be year AI moves from discovery to executionChristian Klein, CEO of SAP, discusses the key challenges to properly embedding AI into businesses, including establishing trustworthiness and reskilling labor forces.
Persons: Christian Klein Organizations: SAP
The Supreme Court heard arguments on Wednesday in a set of cases that could pave the way for its conservative supermajority to undercut how American society imposes rules on businesses, advancing a key goal of the conservative legal movement. The court is expected to issue its ruling by the end of its term, most likely in June. But it remains unclear how sweeping any ruling — and its consequences — would be. The plaintiffs in the case are asking the Supreme Court to overturn a major 1984 precedent, Chevron v. Natural Resources Defense Council. People who do not like particular rules can file lawsuits arguing that an agency exceeded the limits of the authority Congress granted to it.
Organizations: Chevron, Natural Resources Defense Council Locations: Chevron
Two broods of periodical cicadas are emerging simultaneously for the first time in 221 years. That's because two broods of periodical cicadas — Broods XIII and XIX — will emerge from their underground lairs simultaneously for the first time in 221 years. Brood XIX will predominantly appear in southern states, while Brood XIII will appear in a small section of the Midwest — mainly Illinois. Unlike annual cicadas, periodical cicadas spend years in their underground rooms like brooding teenagers (is that why they're called broods?) In the case of the next two emerging broods, Brood XIII emerges every 17 years, while Brood XIX emerges every 13 years.
Persons: , Lewis, Clark, Thomas Jefferson, Hype, Instagram, Brood, Gene Kritsky, Jessee Smith, I've, Kritsky, they're, it's, cicada, you've Organizations: Service, Business, Joseph University, Southern Locations: Illinois, Chicago, Louisiana, Marbury, Madison, Lake, Mount St
German software company SAP allegedly violated the Foreign Corrupt Practices Act. Photo: Aparna Jayakumar/Bloomberg NewsSAP has agreed to pay more than $220 million to settle foreign bribery probes brought against the German software maker by U.S. and South African authorities. SAP and its co-conspirators paid bribes to foreign officials in South Africa and Indonesia, delivering money in the form of cash, wire transfers, political contributions and sometimes luxury goods, U.S. prosecutors said Wednesday.
Persons: Aparna Jayakumar Organizations: SAP, Bloomberg Locations: German, South Africa, Indonesia
Read previewIn the wake of US and UK airstrikes in Yemen early Friday, Russia sought to portray itself as an opponent to impetuous Western aggression. Zakharova said the strikes showed a "complete disregard for international law" and were "escalating the situation in the region." AdvertisementYemen's Houthi loyalists lift their weapons as they take part in an armed parade on December 20, 2023, in Amran province, Yemen. The Houthis say they are acting in support of Palestinians amid Israel's attacks on Gaza, and are targeting vessels bound for Israel. A wider conflict in the region would divert Western focus away from helping defend Ukraine from Russia's invasion, and sap Western resources.
Persons: , Maria Zakharova, Zakharova, Iran's, Yemen's, Mohammed Hamoud, Israel, shouldn't, Hanna Notte, . Robert Dover, Vladimir Putin, KREMLIN.RU, Putin audaciously, Putin, Anna Borshchevskaya Organizations: Service, Business, UN, New York Times, Center for Strategic, International Studies, UN Security, University of Hull, Dover, United, United Arab Emirates, REUTERS, Hamas, Washington Institute Locations: Yemen, Russia, Amran province, Iran, Red, Gaza, Israel, Africa, Russian, Moscow, Ukraine, Qasr Al Watan, Abu Dhabi, United Arab, Handout, REUTERS Russia, Russia's, Saudi Arabia, UAE
In today's big story, we're looking at the resignation of another Ivy League president and the knock-on effect it'll have on education in the US. The big storyIvy League issuesBrian Snyder/ReutersClaudine Gay's tenure as Harvard president wasn't long, but it won't be forgotten. Alan Garber, Harvard's provost and chief academic officer, will serve as interim president, the school's board announced. Gay is the second Ivy League president to step down in less than a month, following in the footsteps of former Penn president Elizabeth Magill. Harvard president Claudine Gay Kevin Dietsch/Getty ImagesGay and Magill's departures highlight the tension between businesses and prestigious universities and the former's influence over the latter.
Persons: , Bob Marley, John Wick, Brian Snyder, Claudine Gay's, wasn't, Gay, Alan Garber, Harvard's, Elizabeth Magill, Magill, Sally Kornbluth, Bill Ackman, Claudine Gay Kevin Dietsch, Business Insider's Paul Squire, Lucas Jackson, Tesla, Goldman, Tyler Le, it's, Warren Buffett, Greta Thunberg, Florence Pugh, Mel Gibson, J.R.R, Tolkien, Eli Manning, Max Willcocks, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, Ivy League, Business, Harvard, Ivy, Penn, Gay, MIT, GOP, Big Tech, Apple, Microsoft, Nvidia, Meta, Boston Consulting Group, Cushman & Wakefield, LinkedIn, SAP, Verizon Consumer Group, EV, Elon, Jiji Press, Japan Airlines, New York Locations: China, Jisoo, New York, San Diego, London, Edinburgh
Read previewWhen I first spoke to Juergen Mueller, SAP's chief technology officer, earlier this year, generative AI was the hot new thing. One issue with language models and generative AI is that it often has a cutoff point and lacks up-to-date knowledge. SAP has trained more than 50,000 of the company's 105,000 workers on what it sees as the opportunities that Gen AI brings. The worst thing is if only a few would know how and what to do with it and the majority wouldn't. This strong foundation of AI expertise has been enabling us to infuse generative AI capabilities across our solutions and deliver immediate value to customers.
Persons: , Juergen Mueller, Mueller, ChatGPT, we've Organizations: Service, Business, SAP, Google, SAP Cloud Locations: Business
While another third (32%) said they have not made the spending decision, only 13% said they would not be acquiring similar gen AI capabilities. Microsoft has pointed to customers including Visa, BP, Honda and Pfizer using Copilot, and professional services firm partners on Copilot AI including Accenture, EY, KPMG, and PwC. And even amid the hype, it's important to keep in mind that as gen AI spending grows, it is still dwarfed by companies' cybersecurity budget needs. That means roughly $5 will be spent on security for every dollar spent on gen AI. But it's growing, and for now at least, when it comes to the billions in gen AI spending, Microsoft is in the pole position.
Persons: Dan Ives, Google Bard, Satya Nadella, Sam Altman, Altman, Jason Wong, Wong, Joe Atkinson, That's, Copilot, It's, Gartner, it's, Will, John Lovelock Organizations: Microsoft, Wedbush Securities, " Enterprises, Google, CNBC Technology, Survey, Gartner, Visa, BP, Honda, Pfizer, Accenture, EY, KPMG, CNBC, CNBC TEC, SAP, Adobe, Amazon Web, Meta, SharePoint Locations: San Francisco , California, U.S, Copilot, Salesforce, that's
Dany Azar/Handout via REUTERS Acquire Licensing RightsWASHINGTON, Dec 5 (Reuters) - Hundreds of thousands of people worldwide are killed annually by malaria and other diseases spread through the bite of mosquitoes, insects that date back to the age of dinosaurs. To their surprise, the male mosquitoes possessed elongated piercing-sucking mouthparts seen now only in females. Some flying insects - tsetse flies, for instance - have hematophagous males. "In all hematophagous insects, we believe that hematophagy was a shift from plant liquid sucking to bloodsucking," Azar said. The researchers said while these are the oldest fossils, mosquitoes probably originated millions of years earlier.
Persons: Dany Azar, Handout, " Azar, Azar, André Nel, hematophagy, Nel, Will Dunham, Rosalba O'Brien Organizations: REUTERS Acquire, Rights, Chinese Academy of Sciences ' Nanjing Institute of Geology, Lebanese University, National Museum of, World Health Organization, Thomson Locations: Lebanon, Hammana, Paris
EU clears up to 1.2 bln euros of aid for cloud computing
  + stars: | 2023-12-05 | by ( ) www.reuters.com   time to read: +2 min
European flags fly outside the European Commission headquarters in Brussels, Belgium September 20, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Dec 5 (Reuters) - The European Commission approved on Tuesday up to 1.2 billion euros ($1.30 billion) of state aid for a European cloud computing project to try to boost the involvement of EU business in a field dominated by U.S. companies. Those countries will provide up to 1.2 billion euros in public funding, which in turn is expected to unlock 1.4 billion euros in private investments, the European Commission said. The European cloud technology project features 19 companies, including French companies Atos (ATOS.PA) and Orange (ORAN.PA), Deutsche Telekom (DTEGn.DE) and Germany's SAP (SAPG.DE), Telecom Italia (TLIT.MI) and Telefonica Espana (TEF.MC). The three biggest players in cloud computing are Amazon (AMZN.O), Microsoft (MSFT.O) and Google (GOOGL.O).
Persons: Yves Herman, Didier Reynders, Sudip Kar, Gupta, Piotr Lipinski, Philip Blenkinsop, Barbara Lewis Organizations: European Commission, REUTERS, Rights, U.S, Infrastructure, Services, IPCEI CIS, Union, Deutsche Telekom, SAP, Telecom Italia, Telefonica Espana, Microsoft, Google, Thomson Locations: Brussels, Belgium, France, Germany, Hungary, Italy, Netherlands, Poland, Spain
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLeaders must be held accountable on climate pledges, SAP CEO saysSAP CEO Christian Klein on the need for data to back up climate pledges.
Persons: Christian Klein
[1/5] A general view of a floating fishing village near Kampong Phluk at Tonle Sap Lake, in Siem Reap, Cambodia November 15, 2023. REUTERS/Chantha Lach Acquire Licensing RightsKAMPONG PHLUK, Cambodia, Dec 4 (Reuters) - Fisherman Siem Huat has seen fish stocks dwindle in recent years in Cambodia's majestic Tonle Sap Lake, and with them, his family's sole source of income. "Sometimes there is rainfall in the wrong months or it gets so hot I can't go out to fish," said the 45-year-old Siem Huat, as he navigated his boat through mangroves to pull in nets carrying disappointingly few fish. The Mekong River typically swells in the rainy season as it converges with Cambodia's Tonle Sap River, sending an unusual reversed flow into the Tonle Sap Lake that fills up the latter and spawns bountiful fish stocks. Reporting by Chantha Lach, Napat Wesshasartar; Editing by Kanupriya Kapoor and Clarence FrenandezOur Standards: The Thomson Reuters Trust Principles.
Persons: Chantha Lach, Siem, Napat, Kanupriya Kapoor, Clarence Frenandez Organizations: REUTERS, Thomson Locations: Kampong Phluk, Tonle Sap, Siem Reap, Cambodia, PHLUK, Asia's, Sap, Dubai
A Reddit user asked what are weird jobs nobody knows about but pay well. AdvertisementA Reddit user asked which jobs were relatively unknown but lucrative and the post went viral. Teeth designerA Reddit user said he makes teeth on a computer using CAD/CAM software for dental laboratories. Artificial flavor makerOne Reddit user wrote, "My dad was a master flavorist. Reddit user solarblack wrote, "My Aunt and her daughter both do seasonal work as hand pollinators and harvesters.
Persons: Redditors, , IndependenceNo2060, Loreo1964, die_lahn, solarblack Organizations: Service, Business, Heineken
AI is much more than just hype, SAP CEO says
  + stars: | 2023-11-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is much more than just hype, SAP CEO saysChristian Klein, CEO of German software giant SAP, discusses the role of artificial intelligence in businesses.
Persons: Christian Klein Organizations: SAP
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