UBS predicts another strong quarter for Amazon . The bank maintained its buy rating on the e-commerce giant and lifted its 12-month price target to $279 per share from $271. The new forecast implies upside of 23% from Monday’s close. The target change comes ahead of Amazon’s third-quarter report. Analyst Stephen Ju made made several revisions to his Amazon estimates ahead of the release, including a modest increase to its e-commerce segment due to benefits from higher third-party seller inventory levels. The analyst sees this accompanied by likely margin expansion due to improving unit economics. He also cited the potential…
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Microsoft cofounder Bill Gates attends a private dinner for technology and business leaders hosted by U.S. President Donald Trump in the State Dining Room at the White House in Washington, D.C., U.S., September 4, 2025. Brian Snyder | ReutersMicrosoft co-founder Bill Gates, who wrote a book in 2021 titled, “How to Avoid a Climate Disaster,” now says leaders need to shift their approach to climate change.In a letter published Tuesday ahead of next week’s COP30 U.N. climate summit, Gates argued that too many resources are focused on emissions and the environment, and that more money should go toward “improving lives”…
People pass by The Spheres in downtown Seattle, Washington, on June 25, 2025. Juan Mabromata | AFP | Getty ImagesAmazon said Tuesday that it will lay off about 14,000 corporate employees, marking the latest cuts in the company’s multi-year effort to rein in costs.In a blog post, the company wrote that the layoffs are being carried out to help make the company leaner and less bureaucratic, while it looks to invest in “our biggest bets” including generative artificial intelligence.”This generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster…
Cathie Wood, founder and chief executive of ARK Invest, says embodied AI in the healthcare space is “one of the most profound applications of AI” which will be central to a productivity and innovation boom in the coming years. Wood told CNBC in an exclusive interview that ARK — which invests in disruptive technology opportunities — is now focused on pure plays in the innovation space. These span robotics, energy storage, AI, blockchain technology and “especially” multiomic sequencing in the healthcare space, which Wood says is “the most underestimated and underappreciated” of all the investment themes. Multiomic sequencing in healthcare…
CNBC’s Jim Cramer on Monday reviewed the only six U.S. companies currently valued between $500 billion and $1 trillion, and he ranked JPMorgan Chase as the one most likely to be the next to reach $1 trillion.”The reason I have JPMorgan as the favorite in this race, with three to one odds, is very simple: the banks are on fire right now, and right now this stock is ridiculously cheap … This thing trades at 15 times this year’s earnings estimates,” he said. “If we get a little multiple expansion and people, say, they start paying 17.5 times next year’s…
An Optimus bot from Tesla on display during the 2024 World AI Conference & High-Level Meeting on Global AI Governance at the Shanghai World Expo Exhibition and Convention Center on July 7, 2024.Anadolu | Anadolu | Getty ImagesArk Invest founder and Chief Executive Cathie Wood on Tuesday singled out the potential for artificial intelligence to accelerate the development of humanoid robots.Speaking to CNBC on the sidelines of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia, Wood said machines that resemble people in size, shape and movement could represent one of the biggest AI opportunities.”I know a lot of people…
This photograph taken on October 30, 2022, shows the logo of the Swiss pharmaceutical and drug maker Novartis on a building in Basel. Gabriel Monnet | Afp | Getty ImagesNovartis “can never be done” when it comes to major acquisitions in its sector as it always needs to look for the next “great asset,” CEO Vas Narasimhan told CNBC.In order to offset the hit from generics competition Novartis has been on a buying spree, acquiring more than 35 companies over the last year. The Swiss drugmaker announced its biggest deal in a decade on Sunday, when it announced it has…
U.S. President Donald Trump and China’s President Xi Jinping shake hands before their bilateral meeting during the G-20 leaders summit in Osaka, Japan on June 29, 2019.Kevin Lamarque | Reuters The mere prospect of a U.S.-China trade deal is enough to send markets higher.On Monday stateside, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite closed at record highs — with the broader market index breaking past the 6,800 level for the first time.And that’s before an agreement has been signed officially.”A lot of the forecasts for technology have been without the benefit of China, so once you can…
Guests enjoy the Fortune Global Forum 2025 Gala Dinner on October 26, 2025 at Diriyah Gate, Riyadh, Saudi Arabia.Cedric Ribeiro | Getty Images Entertainment | Getty ImagesMining executives have welcomed a sharp upswing in investor interest from the Middle East, as Gulf states seek to expand their critical mineral ambitions and take on established global players.Critical minerals refer to a subset of materials considered essential to the energy transition. These resources, which tend to have a high risk of supply chain disruption, include metals such as copper, lithium, nickel, cobalt and rare earth elements.”The interest in rare earths in this…
Cathie Wood, chief executive officer of Ark Investment Management LLC, during the Federal Reserve’s Payments Innovation Conference in Washington, DC, US, on Tuesday, Oct. 21, 2025. Aaron Schartz | Bloomberg | Getty ImagesARK Invest CEO Cathie Wood on Tuesday pushed back on fears of an artificial intelligence bubble, while flagging the possibility of a “reality check” on AI valuations.Speaking to CNBC’s Dan Murphy on the sidelines of Saudi Arabia’s Future Investment Initiative (FII) in Riyadh, Wood said that as interest rates begin to rise, “there will be a shudder” in markets.”We are going to reach a moment in the next…
