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Companies are rapidly integrating generative AI technology to boost productivity. AdvertisementCompanies have been racing to deploy generative AI technology into their work since the launch of ChatGPT in 2022. She added that the "demand for AI governance and risk experts is outpacing the supply." "The venture capital environment also reflects a disproportionate focus on AI innovation over AI governance," Singh told Business Insider by email. But with the pace of innovation in AI, government regulations may not be enough right now to ensure companies are protecting themselves.
Persons: , haven't, Tad Roselund, Nanjira Sam, Navrina Singh, Singh Organizations: Service, Companies, Microsoft, Boston Consulting Group, MIT Sloan Management, Stanford's Institute for, Intelligence, Biden Administration Locations: EU
Goldman Sachs said this week that there are plenty of cheap tech stocks to buy coming out of earnings. The information technology sector has reported a year-over-year earnings growth rate of 23.2%, according to John Butters, senior earnings analyst at FactSet. CNBC Pro combed through Goldman Sachs' research to find the most underappreciated buy-rated tech stocks. "Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025," he added. Second, ANET has growing confidence in its AI position and its > $750 mn AI revenue target for 2025.
Persons: Goldman Sachs, John Butters, Goldman, Noah Poponak, Poponak, Kash Rangan, Rangan, Michael Ng, Arista's, Ng, ANET Organizations: FactSet, CNBC, Microsoft, Teledyne Technologies, Arista Networks, Arista, TAM, Cloud Titans, Cloud Locations: 2H24
Jim Simons, the legendary hedge fund manager who founded the prolific Renaissance Technologies, died on Friday, according to the foundation he started. AdvertisementThe MIT math professor and former NSA codebreaker was 86 years old. "Jim was an exceptional leader who did transformative work in mathematics and developed a world-leading investment company," Simons Foundation president David Spergel said in a statement. This is a developing story. Please check back for updates.
Persons: Jim Simons, NSA codebreaker, Jim, David Spergel Organizations: Renaissance Technologies, NSA
In the first three months of the year, economic growth was driven by the services sector, which expanded for the first time in a year, statistics agency said. Transport services, legal services and scientific research all grew strongly, but services that include hotels and restaurants fell slightly, and the construction sector contracted sharply. per person grew 0.4 percent in the first quarter, following seven consecutive quarters of decline. Some sectors like professional services and technology have been doing well, but others like hospitality have struggled, she said. Household spending, adjusted for inflation, grew 0.2 percent, following two quarters of declines, the statistics agency said.
Persons: , Tera Allas, Ms, Allas Organizations: Transport Locations: McKinsey’s Britain, Ireland
What's more, Xi Jinping has told the Chinese military to prepare for war and said that reunification with Taiwan is inevitable. But not everyone thinks a Chinese military move is necessarily imminent. If China was actively preparing for a near-term invasion of Taiwan, Kennedy said there are a few things he might expect to see first. AdvertisementIf China does invade, the global economic impact would be huge, and despite its efforts to secure its economy, China would likely be far from unscathed. "Any action against Taiwan would be disastrous for China's economy," Chilukuri said.
Persons: , Vivek Chilukuri, Scott Kennedy, It's, Chilukuri, Xi Jinping, China's, Jinping, Kennedy, he'd Organizations: Service, Business, West, Center, New, New American Security, Center for Strategic, International Studies Locations: China, Southeast Asia, Europe, US, Taiwan, New American, United States, Russia, Ukraine, Hong Kong
Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.
Persons: , Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel
British biodiversity startup Dendra Systems announced Wednesday it has raised a $15.76 million Series B, as investors continue to pour capital into climate tech. The $15.76 million Series B round was led by Zouk Capital, a London-based private equity firm that has previously backed climate-tech companies such as Green Hedge and Orb Energy. Dendra Systems previously raised $10 million Series A in 2020 from At One Ventures, Airbus Ventures, Future Positive Capital, Chris Sacca's Lowercarbon Capital, and others. Climate tech proved to be more resilient than other sectors in a cool market in 2023, with European climate tech startups bucking the trend in declining investment and raising a collective $20 billion. Dendra Systems is among the first batch of European climate startups to get VC backing.
Persons: Susan Graham, Graham, Chris Sacca's Organizations: Systems, Zouk, Orb Energy, Aramco Ventures, Airbus Ventures, Understorey, Business, Tech News, Dendra, One Ventures, Positive, Natural Capital Research Locations: London, Rio Tinto, North America
Investors in Blackstone's real-estate fund asked for their money back in droves — more than $15 billion to date. Unless the real-estate market comes roaring back, analysts warn, BREIT could end up shrinking to a fraction of its current size, leaving the fund's investors holding the bag. Only 3% of BREIT's holdings are in office buildings, which have been ground zero for commercial real estate pain. Advertisement"Not all real estate is created equal," BREIT boasted in a recent letter to stockholders, "and where you invest matters." "Commercial real estate is a slow burn," Brian Moynihan, the CEO of Bank of America, recently observed.
Persons: Blackstone, , BREIT, REITs, Steve Schwarzman, Jeenah, Nate Koppikar, Craig McCann, BREIT's, Chilton, ​ ​ McCann, McCann, Horacio Villalobos, That's, Donald Trump, Robert Chang, Schwarzman, Michael Blackshire, Phil Bak, Stephen Schwarzman, Shannon Stapleton, Brian Moynihan, it's, It's Organizations: BREIT, Orso Partners, Securities Exchange Commission, Blackstone, SEC, Chilton Capital Management, SLCG Economics Consulting, Publicly, University of California, Regents, Armada Investors, Reuters, Bank of America Locations: BREIT, Lisbon, Fideres
How US presidential election years affect the market
  + stars: | 2024-05-07 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +5 min
But if the past century is any guide, the long-term consequences of US presidential election years on investor portfolios, including 401(k)s, is minimal at best. Unsurprisingly, those four presidential election years occurred at times of seismic events: The Great Depression. The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to presidential election years in which the incumbent president is running for reelection, the average jumps to 12.2%. “If you’re not going to make a change in a nonelection year, you shouldn’t do so in a presidential election year,” Mukherjee said.
Persons: TIAA, , Niladri Mukherjee, Jeff Buchbinder, Joe Biden, Donald Trump, ” Mukherjee, Mukherjee, What’s, — Mukherjee, you’re, Daniel Crosby, Crosby Organizations: New, New York CNN, US Bank, , Senate Locations: New York, United States
Marketing has long struggled to establish an standard measurement for brand value. AdvertisementThe number one thing on the minds of CMOs in 2024 is proving measurable brand value. There have been many ways of assessing brand value in the past including revenue, the value of future net earnings, and net promoter scores. Some new disruptive thinking on brand value deserves consideration — the power of emotion. The power of emotion — the Equinox exampleEmotion is the new currency driving quantifiable brand growth.
Persons: , Julia Klim, Equinox's, Klim, Billee Howard Organizations: Service, Gartner Locations: Brandthro
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe UK is 'an interesting investment' right now: UBS Global Wealth ManagementAdrian Zuercher of UBS Global Wealth Management, discusses the outlook for U.S. and U.K. markets.
Persons: UBS Global Wealth Management Adrian Zuercher Organizations: UBS Global Wealth Management
Nvidia is dominating earnings season, and it hasn't even reported results yet. Other mega-cap tech giants have been mentioning on earnings calls that they're boosting investment in AI infrastructure. AdvertisementThe company is gearing up for the release of its next-generation AI chip, named Blackwell, later this year. Nvidia has competition, but it still dominatesRecent earnings results from Nvidia's rival, AMD, suggest that most of this business is going to Nvidia and not its competitors. AdvertisementInvestors will have to wait until after the market close on May 22 to hear what Nvidia's earnings results actually are.
Persons: Blackwell, Elon Musk, We've, Musk, Tesla, Meta, Yann LeCun, John Werner, Brian Olsavsky Organizations: Nvidia, Microsoft, Tesla, Meta, UBS, Blackwell, AMD, Intel, Gaudi Locations: Meta
Youth unemployment, income inequality, regional disparities, and Russian oil remain big problems. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil. "The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. Indian demand for Russian oil has cooled in recent months as new sanctions have made it more expensive, but the buying remains controversial. Alexandr Demyanchuk/AFP/Getty ImagesIndia the IT hubUnder Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.
Persons: Narendra Modi, Elon Musk, Jamie Dimon, Tim Cook, , Modi, Goldman Sachs, JPMorgan's Dimon, He's, Musk, Apple's Cook, Joe Biden, Sundar Pichai, Anna Moneymaker, Jensen Huang, Satya Nadella, Alphabet's Sundar Pichai, Richard Rossow, Demonetisation, Kunal Sen, Sen, Tim Graham, Rossow, tycoons Mukesh Ambani, Gautam Adani, Mukesh Ambani, Isha Piramal, Rihanna, Shloka Mehta Ambani, Akash Ambani, Radhika Merchant, Anant, Radhika, Ambani, they'd, Neelima Jain, Vladimir Putin, Alexandr Demyanchuk, Sanjay Shetty, Shetty Organizations: Service, titans, Monetary Fund, Gross, World Bank, Economic, of New, Google, Apple, Nvidia, Microsoft, India, Studies, Center for Strategic & International Studies, United Nations, United Nations University World Institute for Development Economics, University of Manchester, International Labor Organization, Oxfam, Bloomberg, Reliance Industries, Adani, CSIS, Indian, Shanghai Cooperation Organisation, Getty, Modi, Big Tech, Randstad, Economic Times Locations: India, Britain, Japan, Germany, China, of New York, Nimaj, Rajasthan, North Korea, Bihar, Uttar Pradesh, Russia, Ukraine, Europe, Moscow, Western, Samarkand, AFP, Randstad India
AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."
Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC
JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .
Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO
The portfolio manager whisperers
  + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com   time to read: +24 min
AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.
Persons: Taylor Swift, Travis Kelce, Goldman Sachs, , That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, , Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny
The automaker is the joint venture partner of Honda and Toyota in China, and has an electric car brand called Aion. Expanding outside ChinaLike other automakers in China, GAC is also turning overseas. China's overseas car sales surged last year, putting the country on par with Japan as the world's largest exporter of cars. Dyer expects that to drive overseas demand for Chinese electric cars. Chinese consumers placed almost twice as much importance on tech features compared with U.S. consumers, Dyer said, citing AlixPartners' survey.
Persons: Evelyn Cheng, Tesla, Feng Xingya, Feng, Wei Haigang, Wei, Stephen Dyer AlixPartners, There's, Stephen Dyer, AlixPartners, Dyer, BYD, Nio, CATL, Zhong Shi Organizations: CNBC, GAC, Labor, Huawei, Honda, Toyota, China Passenger Car Association, EU, U.S, Factories, Greater China Business U.S, Ministry of Commerce, Tech, Volkswagen, SAIC Motor, Battery, China Automobile Dealers Association, Automotive, Robotics, Lotus Technology, Geely Locations: Beijing, Evelyn Cheng BEIJING, China, East, Mexico, Japan, Malaysia, Thailand, Egypt, Brazil, Turkey, Amsterdam, Greater China, Asia, U.S, Europe
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegulation, energy prices and geopolitics are hitting investment into the euro zone: EYJulie Linn Teigland, EMEIA area managing partner at EY, talks through her firm's report that found foreign direct investment in the euro zone had fallen 11% since the pandemic.
Persons: Julie Linn Teigland
Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as Pizza Hut and KFC struggled to attract customers. Yum's global same-store sales also fell 3% in the quarter, missing StreetAccount estimates of 0.2% same-store sales growth. Across Yum's three largest brands, only Taco Bell reported same-store sales growth. Taco Bell's U.S. locations reported same-store sales growth of 2%, while its international business posted a decline of 2%. Pizza Hut reported same-store sales dropped 7%, as demand lagged both in its home market and internationally.
Persons: Taco Bell, Yum Organizations: Yum Brands, KFC, LSEG Locations: Austin , Texas, Yum's, Mexican, Bell's U.S, U.S, China
Hong Kong stocks are back from the dead. Here’s why
  + stars: | 2024-04-30 | by ( Laura He | ) edition.cnn.com   time to read: +6 min
Hong Kong CNN —Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. The valuation of Hong Kong stocks has also become more “compelling” relative to the rest of the Asian region after the pullback last year, said Zhikai Chen, head of Asian equities at BNP Paribas Asset Management. He added that there is a shift in investors’ sentiments as Chinese economic data turned more positive. Innes said global investors are currently “underweight” in Chinese markets, including Hong Kong, because of geopolitical tensions and concerns surrounding potential fallout from the upcoming US elections. Stock exchange data showed that southbound investors (meaning investment from mainland China into Hong Kong) have bought nearly $20 billion of Hong Kong-listed stocks in March and the first three weeks of April on a net basis.
Persons: , Kelly Chung, Zhikai Chen, Stephen Innes, David Chao, Nomura, Xiaomei Chen, Angelina Lai, Innes, Kong, BNP Paribus Organizations: Hong Kong CNN, Hong, Value Partners, BNP, Management, P Global, PMI, Kong's, Reuters, US, People’s Bank of, HK, Locations: China, Hong Kong, United States, Beijing, India, James’s, People’s Bank of China
CNN —The US Soccer Federation and the Mexican Football Federation have withdrawn their joint bid to host the 2027 FIFA Women’s World Cup, the two organizations announced on Monday. The announcement of the winning 2027 bid will take place at the 74th FIFA Congress in May. CNN has reached out to FIFA for response to the announcement from the US and Mexico federations. “Hosting a World Cup tournament is a huge undertaking – and having additional time to prepare allows us to maximize its impact across the globe,” US Soccer President Cindy Parlow Cone said in a statement. The inaugural FIFA Club World Cup will take place in the country in 2025; the FIFA Men’s World Cup will be coming to North America in 2026 co-hosted by the US, Mexico and Canada; and in 2028, the summer Olympics will take place in Los Angeles.
Persons: , Cindy Parlow Cone, “ I’m, Ivar Sisniega Organizations: CNN, US Soccer Federation, Mexican Football Federation, FIFA, Brazilian Football Confederation, Royal Belgian Football Association, Royal Netherlands Football Association, German Football Association, FIFA Congress, Soccer, FIFA Club Locations: Mexico, United States, North America, Canada, Los Angeles,
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeing paid to take risks internationally, not in the U.S., says Jeff KlingelhoferJeff Klingelhofer, Co-Head of Investments and Portfolio Manager at Thornburg Investment Management, discusses the Fed and fixed income.
Persons: Jeff Klingelhofer Jeff Klingelhofer Organizations: Investments, Thornburg Investment Management Locations: U.S
SoFi Technologies — The consumer fintech company's stock price plunged about 10% on disappointing second-quarter earnings guidance. AT & T — The telecommunications stock popped 2.8% after Barclays upgraded AT & T to overweight from equal weight, citing a "mismatch" between the company's valuation and its growth prospects. Apple — Shares rose more than 3% after Bernstein upgraded the tech stock to outperform from market perform. Dave — Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating. Shares popped 9.8% after JMP initiated coverage of the fintech company with an outperform rating.
Persons: FactSet, Tesla, Domino's, LSEG, Roku, David Joyce, Bernstein, Toni Sacconaghi, Dave —, Dave, AMC preannounced, Bob Bakish, , Sarah Min, Tanaya Macheel, Yun Li, Lisa Kailai Han, Michelle Fox Organizations: Technologies, Elon, Sunday, U.S, Philips —, Philips, Barclays, Seaport Research Partners, Apple, Airlines —, Jeffries, AMC Entertainment Holdings, AMC, Paramount Locations: China, U.S
Norway's $1.6 trillion wealth fund added to its bets in the biggest technology companies last year after interest in artificial intelligence drove a surge in the sector. Norway's $1.6 trillion sovereign wealth fund says it will continue to advocate for investments based on environmental, social and governance (ESG) factors, brushing off the impact of a green political backlash. Analysts expect the outcome of this year's U.S. presidential election to determine whether the pushback against ESG investment strategies will have a deep and lasting effect. Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), told CNBC that the country's wealth fund continued to advocate for the ESG agenda. So that's important," Tangen told CNBC's "Squawk Box Europe" on April 23.
Persons: Nicolai Tangen, Tangen, CNBC's Organizations: Norges Bank Investment Management, Republican, Democratic, CNBC Locations: Oslo, Norway, United States, U.S
(Photo by PAU BARRENA / AFP) (Photo by PAU BARRENA/AFP via Getty Images)U.S. cloud infrastructure provider Oracle is boosting its generative AI capabilities as cloud competition intensifies and more companies jump into AI. Oracle has been introducing generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI already embedded in them. The generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said. JPMorgan has said generative AI and AI could drive incremental IT spending and growth across the software landscape. "Generative AI services [are] basically a huge advantage comparing with our competition.
Persons: PAU BARRENA, ChatGPT, Rondy Ng, it's, Ng, Dan Ives, Ellison, Ives, Larry Ellison, Gartner Organizations: Mobile World Congress, MWC, Getty Images, Oracle, CNBC, Wedbush Securities, JPMorgan Locations: Barcelona, AFP, U.S
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