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☆ Caroline Ellison is a math whiz, trader, and shadow figure behind FTX's collapse. She's being sentenced for her role in the fraud case.
▼ + stars: | 2024-09-24 | by ( Lakshmi Varanasi | Grace Dean | Huileng Tan | ) www.businessinsider.com time to read: +1 min

Caroline Ellison was the CEO of Alameda Research, a trading firm launched by Sam Bankman-Fried. She oversaw bets Alameda took with customer funds. She will be sentenced for her role in the fraud case on Tuesday. In August 2022, Ellison became the head of Alameda Research, Bankman-Fried's trading firm that was closely intertwined with his fallen crypto exchange, FTX. By November, as FTX swiftly spiraled into bankruptcy, Ellison began to draw attention for her role in overseeing the risky bets Alameda took with customers' funds.

Persons: Caroline Ellison, Sam Bankman, —, Ellison, FTX Organizations: Alameda Research, Alameda, Service, Business

☆ These 4 Asian stocks are set to pop on an AI server cooling boom, Nomura says
▼ + stars: | 2024-09-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

That's liquid cooling, a cooling technology used in data centers which helps to improve power and cost efficiency. "As air cooling is approaching the limit of its cooling capacity, the importance of liquid cooling is getting increasingly more pronounced … liquid cooling [is] becoming a must-have for GB200," said the bank. Nomura estimates the liquid cooling penetration rate in Nvidia's AI servers is set to rise from 8% in 2024 to 43% in 2025, and 47% in 2026. Liquid cooling systems are the solution to "power shortage pressures" in data centers, Morgan Stanley said in a previous report . Against that backdrop, Jefferies is bullish on four Asian stocks it says will be "key beneficiaries" of the liquid cooling trend.

Persons: Nomura, Morgan Stanley, Jefferies, it's, — CNBC's Michael Bloom Organizations: Nvidia, Nomura, Tech, Jefferies, Nvidia's G200, Micro Computer, Quanta's CDU, Microsoft, Meta, Web Services Locations: Taiwan, Delta

☆ China just released aggressive measures to boost its economy — but some analysts say it's still not enough
▼ + stars: | 2024-09-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

"Today's policy measures are bold by historical standards," Betty Wang, the lead economist at Oxford Economics, wrote in a note on Tuesday. Stimulus measures don't address consumptionDespite the fanfare, analysts are divided over whether the moves that ease monetary policy constitute a massive "bazooka" stimulus. AdvertisementMost say the monetary easing policies don't address the lack of confidence contributing to depressed consumer spending. China has pulled out multiple support measures this year to shore up its economy and stock markets, but any kneejerk optimism has been shortlived. Advertisement"Overall, we feel today's measures are a step in the right direction, especially as multiple measures have been announced together rather than spacing out individual piecemeal measures to a more limited effect," Lynn Song, the Greater China chief economist at ING bank, wrote on Tuesday.

Persons: —, Pan Gongsheng, Pan, Betty Wang, Wang, it's, Nomura, Lynn Song Organizations: Service, People's Bank of China, Business, Analysts, Oxford Economics, CSI, Nomura, ING Locations: Beijing, China, Greater China

☆ Sam Altman is joining forces with design guru Jony Ive and Steve Jobs' widow to build a new AI device company
▼ + stars: | 2024-09-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI CEO Sam Altman is working on a new AI device startup with former Apple design chief Jony Ive and Laurene Powell Jobs, the widow of the late Apple founder Steve Jobs. Marc Newson, who cofounded LoveFrom with Ive, told The Times that they were still figuring out the product and its release date. Advertisement"I'm interested in this topic, I think it is possible," Altman told The Journal's tech columnist Joanna Stern at the event. Notably, Altman told Stern in October 2023 that he didn't think AI devices would eclipse smartphones. Related storiesFormer Apple employees Imran Chaudhri and Bethany Bongiorno cofounded their own AI startup, Humane in 2019 and launched their first product, the Ai Pin in November.

Persons: —, Sam Altman, Jony, Laurene Powell Jobs, Steve Jobs, Brian Chesky, Altman, Airbnb, Emerson, Powell Jobs, Marc Newson, Joanna Stern, Stern, Imran Chaudhri, Bethany Bongiorno, Zoz Organizations: Service, Apple, The, The New York Times, The Times, Business, Apple Watch, Times, Bloomberg, Humane, Emerson, Business Insider Locations: OpenAI

☆ Here's where to invest $1 million, according to the pros
▼ + stars: | 2024-09-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

If you had as much as a spare $1 million to invest right now, what should you buy? Balanced-to-medium risk profile With as much as $1 million to invest with, investors can buy individual securities instead of being restricted to funds, said David Dietze, managing principal and senior portfolio strategist at Peapack Private Wealth Management. "A much smaller amount leaves an investor forced to invest in funds to get adequate diversification. With one million, one could say invest $20K in fifty different stocks and be well diversified," he said. More aggressive risk profile Gambles says that taking on a more aggressive stance would mean an "all in commitment" on the themes he expects will perform, and removing any hedges against those trades.

Persons: Paul Gambles, David Dietze, Dietze, Bristol Myers, Gambles Organizations: U.S . Federal Reserve, CNBC Pro, Family, Yen, Wealth Management, Bristol, BHP Group, Hershey, BHP Locations: China, Australian

This is an age group that may be particularly vulnerable if they haven’t received a whooping cough booster since childhood. The state has logged 111 whooping cough cases this year so far, compared with just 11 in 2023. Last weekend, Portland State University canceled a football game following a surge in whooping cough cases among players. The whooping cough can spread that bacteria through their coughs for a long time if not treated. “Those babies are coughing so much they can’t eat, they can’t drink, so they end up in the intensive care unit.”When to get whooping cough vaccines and boostersPregnant women are encouraged to get a whooping cough booster during their third trimester.

Persons: ”, Tina Tan, That’s, Doctors, there’s, Jim Conway, We’ve, they’re, ” Tan, ” Conway, “, Andrew Carlson, Andi Shane, Karen Ravin, —, ” Shane Organizations: Infectious Diseases Society of America, Centers for Disease Control, Prevention, CDC, UW Health, Wisconsin Department of Health Services, Connecticut, Duke University School of Medicine, Children’s National Hospital, Washington , D.C, NBC News, Children’s Healthcare, Portland State University Locations: Madison , Wisconsin, Connecticut, Hartford, North Carolina, Washington ,, Georgia, Atlanta, Philadelphia, Nemours Children’s Health, Delaware

☆ This under-the-radar stock in Nvidia's supply chain is a 'hidden gem,' Jefferies says
▼ + stars: | 2024-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

One global stock stands out as a "unique play" in the Nvidia and artificial intelligence supply chain, according to Jefferies. It's German semiconductor firm SUSS MicroTec , Jefferies said in a Sept. 17 report, calling it a "hidden gem" among European semiconductor firms. The investment bank initiated coverage of the stock at a buy rating and a target price of 76 euros ($84). The firm has "multi-layered exposure" to an advanced packaging technology called Chip-on-Wafer-on-Substrate, said Jefferies, explaining that it's used to make AI chips. SUSS sells its products to two major high bandwidth memory suppliers and TSMC, to be used in the production of that advanced packaging.

Persons: Jefferies, MicroTec, it's, SUSS, — CNBC's Michael Bloom Organizations: Nvidia, U.S, Jefferies, NVIDIA Locations: TSMC

☆ Christie’s CEO discusses new Asia-Pacific headquarters in Hong Kong
▼ + stars: | 2024-09-20 | 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 EmailChristie’s CEO discusses new Asia-Pacific headquarters in Hong KongGuillaume Cerutti, Christie’s CEO, speaks to CNBC's Emily Tan about Christie's new office at The Henderson in Hong Kong.

Persons: Hong Kong Guillaume Cerutti, Emily Tan Locations: Asia, Pacific, Hong Kong

☆ From gold and silver, to oil and aluminum: Where analysts see prices now the Fed has cut rates
▼ + stars: | 2024-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

HSBC in a Sept. 17 report examined the relationship between Fed rate cuts and copper and aluminum prices over the past 30 years. In its base case, Citi sees copper prices averaging $9,000 per ton for the rest of this year, citing U.S. election uncertainty and weak manufacturing sentiment. Energy Citi anticipates that oil will suffer renewed price weakness in 2025, with Brent falling to around $60 a barrel. Based on what happened in 2019, trade tariffs lowered global oil demand growth by 0.2 million barrels a day. A slowdown in China, among the world's largest importer and consumer of oil, has been blamed on slowing global oil demand.

Persons: annualized, it's, that's, Brent Organizations: U.S . Federal Reserve, Citi, HSBC, Commodities, Energy Citi Locations: China, U.S, Europe, Iran

☆ Mark Cuban wants to take out Chinese knockoffs, and he says Kamala Harris is on the same page
▼ + stars: | 2024-09-19 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Cuban says he's talking to the Harris campaign about combating Chinese knockoffs. Cuban said knockoffs are a "plague on small businesses" and "may put them out of business." Go to newsletter preferences Thanks for signing up! AdvertisementBillionaire investor Mark Cuban says he's working with Vice President Kamala Harris' campaign to find ways to protect American companies from Chinese knockoffs. In an X post on Wednesday, Cuban said he "had an interesting conversation with the @KamalaHarris team about protecting American companies from Chinese Knockoffs."

Persons: Mark Cuban, Harris, counterfeiters, —, Kamala Harris, Cuban Organizations: Service, Business

The cultural shift has spawned a booming business in divorce photography not only for Tan, but also for other photographers hoping to profit. Photos shared on Chinese social media Xiaohongshu show some couples signing their divorce papers, while others pose with their divorce certificate. Happy divorce,” one user wrote alongside a photo of her marriage and divorce certificates side by side. “It is not shameful to be brave enough to divorce,” Tan said. Faces on old wedding photos are spray-painted, to ensure privacy is respected, before being tossed into a crusher along with other tokens of memories.

Persons: Tan, ” Tan, “, Peng Xiujian, ‘, Peng, it’s, Liu Wei, Liu, Justin Robertson, ” Liu, he’s, Gary Ng, “ I’ll, ” Organizations: Hong Kong CNN, China’s National Bureau of Statistics, Companies, Victoria University, CNN Locations: Beijing, Hong Kong, Henan, China, Australia

☆ Mark Zuckerberg's starry watch isn't just the price of a Cybertruck, it's another major step up in his style game
▼ + stars: | 2024-09-19 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewHere's the latest sign of Mark Zuckerberg's style evolution — a luxury watch depicting the Milky Way. Mark Zuckerberg spotted yesterday during the @AcquiredFM live wearing a DB25 Starry Varius in rose gold from De Bethune. 👀 pic.twitter.com/raZRTyzmAz — ZwapX (@zwapxofficial) September 11, 2024This is not the first premium watch Zuckerberg has been spotted wearing. "His recent style evolution, shown by a love for premium watches and subtle luxury, suggests a shift." To be sure, Zuckerberg's style evolution might have less to do with aesthetics and more to do with an intentional strategy to cultivate a relatable and attractive personal image.

Persons: —, Mark, De Bethune, Bryan Li, Mark Zuckerberg, De, 👀, ove Organizations: Service, De Bethune DB, Business, Swiss Locations: De Bethune, ife

☆ 'This party is going to continue': Nvidia and a $1 trillion AI boom will boost tech stocks, Dan Ives says
▼ + stars: | 2024-09-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Worries about whether artificial intelligence investments will pay off may have rocked markets recently, but Wedbush Securities tech analyst Dan Ives says the tech boom is set to continue. Nvidia shares in particular were hit in recent weeks , before rebounding last week and lifting other tech names as well. Nvidia is set to continue driving tech higher, Ives told CNBC's " Street Signs Asia " on Monday. "Everything we're seeing from … Nvidia … this party is going to continue … for the next six to eight quarters, because we're actually seeing demand accelerating," he said. Ives estimated that AI capital expenditure is set to reach around $1 trillion.

Persons: Dan Ives, Ives, CNBC's, we're Organizations: Wedbush Securities, Nvidia, Microsoft Locations: U.S

☆ Putin is embarking on an aggressive hiring drive to rejuvenate Russia's army. But he can't sustain it, experts say.
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

On Monday, Putin ordered the army to increase its troops by 180,000, per a decree published by the Kremlin. This will raise the overall number of Russian military personnel to 2.38 million people, with 1.5 million of them being active soldiers. AdvertisementThe gear coming off the production line "will still be substantial," Reynolds told BI in an interview on Wednesday. Russia has "adapted much better than predicted to some of the pressures it's been put under," Reynolds told BI. Other experts BI spoke to said that while Putin might still be able to grow Russia's army, it may only add more strain to the already-stretched Russian labor force.

Persons: —, Vladimir Putin, Putin, Nick Reynolds, Reynolds, That's, It's, it's, Artem Kochev, Kochev, Benjamin Hilgenstock, Jeremy Morris Organizations: Service, Kremlin, Business, International Institute for Strategic Studies, Royal United Services Institute, Vienna Institute for International Economic Studies, Kommersant, Kyiv School of Economics Institute, Bloomberg, Russian Armed Forces, Aarhus University Locations: Russia, China, India, Ukraine, Moscow

☆ Mark Zuckerberg's daughter August said she wanted to be like Taylor Swift one day, but he shot that down real quick
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg's daughter told him that she wanted to be like Taylor Swift when she grew up. That's not available to you,'" Zuckerberg said he told his daughter. Go to newsletter preferences Thanks for signing up! AdvertisementMeta CEO Mark Zuckerberg says his seven-year-old daughter once told him that she wanted to be like Taylor Swift when she grew up. Zuckerberg brought up a conversation he had with his daughter, August, during a live interview on the "Acquired" podcast.

Persons: Mark Zuckerberg's, Taylor Swift, Zuckerberg, Swift, —, Mark Zuckerberg, Priscilla Chan Organizations: Service, Business

☆ Jamie Dimon says TikTok and Facebook are a 'total stupid waste of time' and people should read books instead
▼ + stars: | 2024-09-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Jamie Dimon says that young people should spend less time on TikTok and Facebook. "A total stupid waste of time," the JPMorgan chief said of the two social media platforms. Reading widely and consuming history books, Dimon said, would be a better use of their time. AdvertisementJPMorgan CEO Jamie Dimon says young people should spend less time on social media platforms and more time reading books. A total stupid waste of time," Dimon told conference attendees.

Persons: Jamie Dimon, Dimon, — Organizations: Facebook, JPMorgan, Service, Georgetown Psaros Center, Financial Markets, Business

☆ Yen carry trade unwind is not done yet, says strategist
▼ + stars: | 2024-09-18 | 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 EmailYen carry trade unwind is not done yet, says strategistFrancis Tan of CA Indosuez Wealth Management says the the yen is still undervalued versus the U.S. dollar, adding that he sees more room for further appreciation of the Japanese currency.

Persons: Francis Tan of Organizations: Francis Tan of CA Indosuez Wealth Management, U.S . Locations: Francis Tan of CA

☆ Ford's CEO and CFO took a drive in a Chinese EV. What they said about it reveals a lot about the state of the US auto industry.
▼ + stars: | 2024-09-17 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Ford CEO Jim Farley and CFO John Lawler took a test drive in a Chinese electric SUV in early 2023. Both men were left shocked and impressed by the quality of the Chinese-made EV. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Ford CEO Jim Farley and CFO John Lawler had visited China in early 2023 when the pair decided to take Changan Automobile's electric SUV for a spin, per The Journal.

Persons: Jim Farley, John Lawler, Jim, Lawler, Farley, — Organizations: Service, Street, Ford, Business Locations: China

☆ Cooling needs and more: Jefferies names global stocks to buy driven by AI data center demand
▼ + stars: | 2024-09-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That also means that AI data centers are growing fast — as is the demand for them. That in turn is set to drive up the demand for cooling systems for data centers. We believe the demand for liquid cooling for AI data centers should sustain for the following 5-10 years, driven by continuous iteration of AI chips and rising heat dissipation requirements," Jefferies said in a Sept. 10 report. Cooling services have been said to improve power efficiency in data centers and, by extension, cost efficiency. Envicool Technology : Jefferies expects data center cooling sales in Southeast Asia to contribute one-third of such sales for the Chinese firm.

Persons: Jefferies, — CNBC's Michael Bloom Organizations: Jefferies, Stock, Schneider Electric, Technology, PSU, Nvidia Locations: China, Southeast Asia

☆ Shares of Broadcom should be higher given the chipmaker's AI growth outlook
▼ + stars: | 2024-09-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we've, Stanley Black, Decker, Jim, Hock Tan, Stocks, Jim Cramer's Organizations: CNBC, TJX Companies, Depot, Microsoft, Management, Excel, Broadcom, Intel, Hewlett Packard Enterprise, Devices

☆ Elon Musk says he's learned a lesson
▼ + stars: | 2024-09-16 | by ( Kwan Wei Kevin Tan | Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Donald Trump survived what appears to be a second assassination attempt on Sunday. Elon Musk then posted on X, asking why there have been no assassination attempts on Biden or Harris. Go to newsletter preferences Thanks for signing up! In a now-deleted post, Musk questioned why there have been no assassination attempts on President Joe Biden or Vice President Kamala Harris. The FBI is now probing what it says appears to be a second attempted assassination of Trump.

Persons: Donald Trump, Elon Musk, Harris, Musk, —, Elon, Joe Biden, Kamala Harris, Trump Organizations: Biden, Service, FBI Locations: Trump's, West Palm Beach , Florida

☆ Future Proof gathering in California surf town is trying to reinvent the investment conference
▼ + stars: | 2024-09-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

More than 4,000 people have descended here for the Future Proof conference , a vast social gathering designed to give younger registered investment advisors and other investment professionals access to what they want. What they want, apparently, is an intense desire to network with other RIAs and investment professionals and find ways to grow their business. Reimagining the financial conference Future Proof is the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. This is the third year for the conference, but Ritholtz and company have been doing conferences for 15 years. Ritholtz describes it as an ongoing project to reinvent the financial conference concept, which he says is "moribund."

Persons: Barry Ritholtz, Josh Brown, Ritholtz, Van Eck, Matt Middleton, Adarsh, Brett Rodgriguez, Delon Mansour, Mansour, Shyamsundar, Harris, Consulting's Brett Rodgriguez, Akash Shah, Shannon Saccocia, Raj Dhanda, Ares Management, John Christmas, RIAs, They'll, Mike Novogratz, Anna Paglia, Bryan Whalen, Saira Malik, Lauren Goodwin, Scott Wapner, DoubleLine Capital's Jeff Gundlach, CNBC's, Jan van Eck, Matt Hougan, DJ Mick, There's, Bob Pisani, Jon Maier, JP Morgan, Pisani, Jan Van Eck, Marlena Lee, That's Organizations: Ritholtz Wealth Management, JPMorgan Chase, Capital Group, Street Global Advisors, Funds, Polaris Capital Management, Graystone Consulting, Investments, Investment, Ares, HPS Investment Partners, Global, Life Investments, Bitwise, Management, Dimensional Fund Advisors Locations: HUNTINGTON BEACH, Calif, Los Angeles, Iowa, California, Huntington Beach, San Diego, Michigan, ETFEdge.cnbc.com

☆ We debate selling more shares of Procter & Gamble, plus Wells Fargo bounces back
▼ + stars: | 2024-09-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Debating P & G: We remain torn over traditional slowdown stocks like Procter & Gamble and other defensive consumer stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we're, Morgan Stanley, Wells, Wells Fargo, It's, we've, Hock Tan, Rene Haas, Jim Cramer's, Jim, Charlie Scharf, Patrick T, Fallon Organizations: CNBC, Apple, Apple Intelligence, Micron, Currency, Procter, Gamble, Colgate, Palmolive, Broadcom, Arm, Jim Cramer's Charitable, Milken Institute Global Conference, Afp, Getty Locations: stock's, Wells Fargo, Beverly Hills , California

☆ Broadcom CEO Hock Tan sits down with Jim Cramer
▼ + stars: | 2024-09-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBroadcom CEO Hock Tan sits down with Jim CramerBroadcom President and CEO Hock Tan sits down with 'Mad Money' host Jim Cramer to talk the semiconductor sector, quarterly results, and more.

Persons: Hock Tan, Jim Cramer Organizations: Broadcom, Jim Cramer Broadcom

☆ Broadcom is at a segment of the AI market where we're addressing several hyperscalers: CEO Hock Tan
▼ + stars: | 2024-09-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBroadcom is at a segment of the AI market where we're addressing several hyperscalers: CEO Hock TanBroadcom President and CEO Hock Tan sits down with 'Mad Money' host Jim Cramer to talk the semiconductor sector, quarterly results, and more.

Persons: Hock Tan, Jim Cramer Organizations: Broadcom, Hock Tan Broadcom

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