Should billionaires exist? Bill Gates, the Microsoft co-founder, whose current net worth Forbes estimates at nearly $139 billion, admits it’s “a strange thing to have people worth [billions],” he said in an episode of the new Netflix docuseries “What’s Next? The Future with Bill Gates.” “It’s such a mind-blowing amount of money relative to personal…
An Amazon Web Services data center in Stone Ridge, Virginia, US, on Sunday, July 28, 2024. Nathan Howard | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like…
Institutional portfolios will continue to underperform due to a lack of adequate exposure to Nvidia and other winning technology names, UBS warned. Strategist Patrick Palfrey told clients that large-cap managers have 4.4% exposure to Nvidia, despite the artificial intelligence darling accounting for 6.6% of the S & P 500 . That is the biggest underweight…
Top 10 things to watch Monday, Sept. 23 1. Stocks are looking slightly higher Monday. It’s big week of earnings with Micron , Jefferies and Club name Costco scheduled to report. On the data side, the key event is the PCE price index, the Fed’s favorite inflation gauge. The Dow , the S & P…
It’s time for some of my reflections on a week in San Francisco talking to dozens of executives and workers in tech. It was a grueling trip, but a necessary one, because we are at a pivotal time when it comes to the revolution of artificial intelligence and accelerated computing. AI gets talked about a…
Elon Musk is on a mission to build new supercomputers. As the CEO of Tesla and his new artificial intelligence startup xAI, the tech titan has big plans for how artificial intelligence can help to supercharge his businesses. In January, he wrote on X that Tesla should be viewed as an AI/robotics company rather than…
Before taping a Friday “Mad Money,” I always look at the week’s market performance just in case the percentages are noteworthy. They usually aren’t. But this week things were different, very different. The S & P 500 and the Nasdaq had their best weekly gains of 2024, gains that made up for the prior week, which…
Recent comments from Nvidia CEO Jensen Huang seemed to revive investment in the turbulent AI sector this week, while leading portfolio managers to recenter attention on the winning trades. “We’re now in this computer revolution,” Huang said at the Goldman Sachs Communacopia + Technology Conference on Wednesday, “This generative AI is not just a tool….
Larry Ellison, Chief technology officer of Oracle (L), and Jeff Bezos, founder, executive chairman of Amazon. Reuters Oracle‘s best week on the stock market since 2021 has bolstered Chairman Larry Ellison’s net worth, briefly edging him past Amazon founder Jeff Bezos on Friday to become the world’s second-richest person. Ellison’s net worth reached $208.4 billion…