Microchip maker AMD got a huge boost in the race to supply the artificial intelligence revolution. OpenAI, the company behind major AI platform ChatGPT, announced a deal for AMD to provide the AI startup with its high-performance processing chips starting next year. Jo Ling Kent discusses the impact. Source link
A lot is riding on the AI boom, and it isn’t just the stock market surge. AI is being touted as an elixir for a number of serious economic challenges, according to Ruchir Sharma, chair of Rockefeller International. In a Financial Times column on Sunday, the market veteran pointed out that the “immigration boom-bust cycle”…
CNBC’s Jim Cramer opined on the accelerating artificial intelligence arms race, saying OpenAI’s latest deal with chipmaker AMD makes the ChatGPT owner more competitive. “The hyperscalers are all vulnerable if OpenAI gets this computing power,” he said. “And given the number of chips it’s buying, I think this company can go after everybody’s business.” The…
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching on Monday and what’s on the radar for Tuesday’s session. Big deal and Big Tech…
Shares of mobile app technology company AppLovin (NASDAQ:APP) fell 14% in the afternoon session after a report surfaced that the U.S. Securities and Exchange Commission (SEC) was investigating the company’s data-collection practices. The probe reportedly reviewed allegations that the marketing platform company violated its platform partners’ service agreements in order to deliver more targeted advertising…
Stock Chart IconStock chart icon Remitly’s year-to-date stock performance. Remitly: “I don’t think you want to be there, I’d rather just be in a traditional bank.” Stock Chart IconStock chart icon Upbound Group’s year-to-date stock performance. Stock Chart IconStock chart icon USA Rare Earth’s year-to-date stock performance. USA Rare Earth: “We did a piece last…
Brad Gerstner, Altimeter Founder and CEO, speaks at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Investor Brad Gerstner cautioned Monday that OpenAI‘s deals with Nvidia and AMD are purely announcements, not deployments. “Now we will see what gets delivered,” the Altimeter Capital founder told CNBC. “Ultimately,…
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures are little changed Tuesday night after U.S. stocks kicked off the new trading week with fresh records. Futures tied to the Dow Jones Industrial Average rose 15 points, or 0.03%. S&P futures ticked up 0.06%, while Nasdaq 100 futures rose 0.04%….
(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator.) They say bull markets peak on good news, but not today. OpenAI’s latest gargantuan commitment for computing capacity via AMD chips – one that will be largely financed through a 10% equity position in AMD that was granted to Open…
Key Takeaways Shares of Figma, Expedia, Uber and others gained Monday after shoutouts from OpenAI during the ChatGPT maker’s developer conference. The moves helped power gains for the tech sector, helping to boost the S&P 500 and Nasdaq Composite to fresh closing highs. These days, a shoutout from OpenAI is all it takes to send…