Saudi Arabia will capitalize on its abundant supply of cheap natural gas and renewables to transform the kingdom into a global leader in artificial intelligence, Aramco CEO Amin Nasser told CNBC in an interview.Aramco, the world’s largest oil company, disclosed in late October that it plans acquire a significant minority stake in the new artificial intelligence company Humain. Saudi Arabia’s sovereign wealth fund, PIF, is the majority owner of Humain, which launched in May.Humain will become Saudi’s national AI champion and will grow into a leader in the space, Nasser told CNBC’s Sara Eisen in an interview that aired Tuesday.…
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Josh Brown said Tuesday the stock market is going through a correction, even if the indexes have yet to reflect it. “We’re actually undergoing a market wide correction right now,” Brown said on CNBC’s ” Halftime Report .” “The reason why people don’t know it is because it hasn’t hit the Mag Seven names, but that’s literally what’s taking place.” Stocks are near all-time highs, with the S & P 500 last month having topped 6,900 on an intraday basis for the first time ever. The broader index is higher by more than 15% year to date. However, the headline…
A version of this article appeared in CNBC’s Inside Alts newsletter, a guide to the fast-growing world of alternative investments, from private equity and private credit to hedge funds and venture capital. Sign up to receive future editions, straight to your inbox.Wealthy individuals have been pouring into alternative assets in recent years, thanks in part to the explosion of evergreen funds, a certain type of fund specifically structured to allow for more liquidity. The catch is, the capital that goes into these funds often has to be spent right away, and that may be creating distortions in the markets. Think of this deployment structure as a gift…
U.S. Senate Majority Leader John Thune (R-SD) holds a copy of the Continuing Appropriations and Extensions Act as he speaks next to House Speaker Mike Johnson (R-LA) during a press conference on the third day of a partial shutdown of the federal government at the U.S. Capitol in Washington, D.C., U.S. October 3, 2025. Jonathan Ernst | ReutersThe ongoing U.S. government shutdown is about to become the nation’s longest federal funding lapse ever.The shutdown is poised to hit that milestone on Wednesday, marking its 36th day and surpassing the previous record, which was set in early 2019.The latest attempt to…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailMoney MoversCNBC’s Contessa Brewer joins ‘Money Movers’ with details on Norwegian’s third quarters earnings, comments from its CEO, and much more.04:2229 minutes ago Source link
Scale AI CFO Dennis Cinelli.Courtesy of Scale AI.After Meta shocked the tech world in June by announcing plans to invest $14.3 billion in Scale AI, primarily as a way to hire the startup’s founder, Alexandr Wang, and a handful of his employees, the future of Scale was immediately thrown in doubt.OpenAI soon disclosed that it had been winding down its work with Scale, which prepares the data that artificial intelligence labs and big tech companies use to train their models. Companies including Google and Elon Musk’s xAI also paused work with Scale after the deal, according to multiple media reports. But…
These are some of the stocks posting the largest moves midday. Source link
Bank of America on Tuesday downgraded gambling stocks DraftKings and FanDuel owner Flutter Entertainment , warning that online sports betting faces a rocky road ahead as competition from prediction markets grows and regulatory uncertainty mounts. BofA cut its rating for DraftKings and Flutter from buy to hold and slashed its price targets for the stocks by 23% and 27%, respectively. The bank now has a price of $250 per share for Flutter, suggesting 8% upside from Monday’s close. It sees DraftKings hitting $35 per share, indicating about a 14% gain from current levels. Polymarket is poised to return to the…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Stocks declined Tuesday after Palantir’s quarterly results and subsequent stock drop stoked valuation concerns about AI-related names. The S & P 500 was down nearly 1%, while the Nasdaq lost nearly 1.5%. The market move lower is nothing to be concerned about, Jim Cramer said. “So, what’s really happened? The answer is nothing.” Instead, he added, “There is just a concentrated group of people who believe that right now the market is overvalued.” 2.…
A flag hangs on campus at Harvard University in Cambridge, Massachusetts, U.S., September 4, 2025. Shannon Stapleton | ReutersTwo Massachusetts men have been arrested in connection with a weekend explosion at Harvard Medical School, authorities said Tuesday.The FBI’s Boston office announced the arrests on social media ahead of a 1 p.m. news conference. It didn’t provide further details.The explosion occurred early Saturday on the fourth floor of Harvard Medical School’s Goldenson Building. No one was injured. The building houses labs and offices associated with the school’s neurobiology department.Medical school officials said the explosion caused no structural damage and that all…
