Howard Marks, co-chairman, Oaktree Capital.Courtesy David A. Grogan | CNBCVeteran investor Howard Marks isn’t calling the artificial intelligence boom a bubble — at least not for now.”My response to date has been that the valuations are … high but not crazy” the Oaktree Capital Management co-founder said Monday in an interview with CNBC’s Sara Eisen. “Expensive and going down tomorrow are not synonymous.”Marks, known for his memos on market cycles and investor psychology, said while enthusiasm for AI stocks is undeniable, it hasn’t yet crossed into the realm of mania that defines a true bubble.”To me, the main ingredient in…
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Jaque Silva | Nurphoto | Getty ImagesCharlie Kawwas, president of the semiconductor solutions group at Broadcom, on Monday suggested that OpenAI is not the mystery $10 billion customer that it announced during its earnings call in September.This is breaking news. Please refresh for updates. Source link
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty ImagesWeeks after Broadcom’s stock shot up on the disclosure of a $10 billion customer that analysts said was OpenAI, the two companies have made the partnership official.OpenAI and Broadcom said Monday that they’re jointly building and deploying 10 gigawatts of custom artificial intelligence accelerators as part of a broader effort across the industry to scale AI infrastructure.Broadcom shares climbed 7% following news of the deal.They didn’t disclose…
Goldman Sachs believes that Estee Lauder has successfully righted the ship, and investors should load up on shares. The bank upgraded the beauty stock to buy from hold and hiked its 12-month price target to $115 per share from $76. The updated forecast suggests upside of 31% from Friday’s close. Analyst Bonnie Herzog cited an upcoming fundamental inflection, driven by strategic initiatives management has put in place, for the rating change. “We estimate the business could potentially return to topline growth as soon as FQ1 (Sep), which should be followed by a return to double-digit EBIT margins in FY27 and…
Valentinrussanov | E+ | Getty ImagesDespite the government shutdown, the Oct. 15 federal tax extension deadline is fast approaching for many filers.The process could be harder for some taxpayers after the IRS furloughed nearly half of its workforce —about 34,000 employees — earlier this week, experts say.”It’s going to be a long haul if you need any kind of specialized customer experience,” said Jennifer MacMillan, president of the National Association of Enrolled Agents, whose members are tax professionals licensed by the IRS.Read more CNBC personal finance coverageThe original tax deadline was April 15. If you couldn’t meet that due date,…
Citi is seen on the floor of the New York Stock Exchange on March 3, 2025. NYSECiti is aiming to launch a service for the custody of crypto assets in 2026, an executive at the bank told CNBC, as Wall Street giants expand their footprint in the digital currency space.Biswarup Chatterjee, global head of partnerships and innovation in the services business at Citi said the bank has been developing a crypto custody service for the last two-to-three years and is making progress.”We have various kinds of explorations … and we’re hoping that in the next few quarters, we can come to…
A dump truck moves raw ore inside the pit at the Mountain Pass mine, operated by MP Materials, in Mountain Pass, California, U.S., on Friday, June 7, 2019.Joe Buglewicz | Bloomberg | Getty ImagesShares of U.S. rare earth miners surged in early trading Monday, after President Donald Trump threatened China with retaliation over its strict export controls.USA Rare Earth soared more than 18%, Critical Metals surged 18%, Energy Fuels jumped more than 11%, and MP Materials rallied about 8%.Trump on Friday threatened China with a “massive” increase in tariffs in retaliation for Beijing imposing strict export controls on rare earth…
Check out the companies making headlines before the bell : Warner Bros. Discovery — The HBO and CNN cable network owner rallied more than 4% after Bloomberg News cited people familiar with the matter saying WBD had rejected Paramount Skydance’s proposed buyout of roughly $20 a share, and that the suitor could respond with a higher offer, make a hostile bid or find a partner. Bloom Energy — The energy stock soared 26% after the maker of fuel cell power generators struck a $5 billion partnership with Brookfield Asset Management to install fuel cells in artificial intelligence data centers. Shake…
Here are Monday’s biggest calls on Wall Street: Goldman Sachs initiates StubHub as buy Goldman said the ticketing company is well positioned. “We are initiating coverage of StubHub Holdings (STUB) with a Buy rating and a $46 12-month PT.” Mizuho reiterates Advanced Micro Devices and Nvidia as outperform The firm raised its price target on Nvidia to $225 per share from $205 and on AMD to $275 per share from $205. “We continue to see AVGO, NVDA best-positioned while AMD’s OAI [OpenAI} deal suggest upside potential. Raising AMD Estimates, PT to $275; Raising NVDA PT to $225; and keeping AVGO…
Bloom Energy power storage equipment in San Ramon, California.Smith Collection | Gado | Archive Photos | Getty ImagesShares of Bloom Energy surged Monday after striking a deal with Brookfield to deploy fuel cells for artificial intelligence data centers. Brookfield will spend up to $5 billion to deploy Bloom Energy’s technology, the first investment in its strategy to support big AI data centers with power and computing infrastructure. Brookfield and Bloom are collaborating to design and build what they are calling “AI factories” around the the world, including a site in Europe that will be unveiled before the end of the…
