Mark Zuckerberg, CEO of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, on Sept. 25, 2024.David Paul Morris | Bloomberg | Getty ImagesArtificial intelligence has been a shot in the arm for digital advertising.Meta and Alphabet both reported sales and earnings that beat Wall Street’s expectations, but the strength in digital ad spend was notable.Meta CEO Mark Zuckerberg said during the earnings call that AI helped imbue “greater efficiency and gains across our ad system,” thus contributing to the 22% year-over-year increase of second-quarter sales that hit $47.52 billion.Meta finance chief Susan Li also told…
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Lip-Bu Tan, CEO of Intel, appears at an event organized by the company.Andrej Sokolow | Picture Alliance | Getty ImagesIntel CEO Lip-Bu Tan addressed “misinformation” about his previous roles after President Donald Trump called for his resignation and raised ethical concerns.” I want to be absolutely clear: Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem – and I have always operated within the highest legal and ethical standards,” he wrote in a memo to employees on Thursday.Tan said Intel is working with the White House to address the situation and that he…
Gold futures hit a record high on Friday after U.S. authorities said tariffs should be imposed on some gold bars — and some strategists say there is more upside ahead for the metal. U.S. gold futures for December delivery touched on an all-time high of $3,534.10 on Friday morning, before climbing down to trade at around $3,495 by 10 a.m. ET. Spot gold , meanwhile, was little changed at around $3,400 per ounce. @GC.1 1D line Gold futures price It came after a “ruling” letter from the U.S. Customs and Border Protection agency (CBP) suggested cast gold bars from Switzerland…
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 Friday’s key moments. 1. Stocks advanced Friday as Wall Street looks to close out a winning week. The S & P 500 and Dow Jones Industrial Average were solidly higher. Meanwhile, the tech-heavy Nasdaq Composite is on track for another record closing high. Next week all eyes will be on a slew of U.S. economic data, most notably on the inflation front. The consumer price index is due out Tuesday morning and carries implications for the Federal Reserve’s…
Better-than-expected earnings growth in Q2 has kept the equity bulls in control. Underneath the surface investors are enjoying the outperformance in technology software names as markets now sit in an interesting vacuum until the Fed’s critical September meeting. Even though this rally is getting long in the tooth, I believe there is more room to run. I want to use the iShares Expanded Tech-Software Sector ETF (IGV) to define risk as this basket of tech software stocks has had a tremendous run since Liberation Day lows in April while seeking to further capitalize on a move higher in this basket…
New York Attorney General Letitia James speaks to members of the media following the third day of the civil fraud trial against former US President Donald Trump, in New York on October 4, 2023.Kena Betancur | AFP | Getty ImagesFederal prosecutors are in the early stages of an investigation into the office of New York Attorney General Letitia James, who brought a civil fraud case against President Donald Trump, according to three people familiar with the matter.The probe is focused on whether or not the New York attorney general’s office caused a deprivation of legal rights under the color of law…
U.S. President Donald Trump speaks during an event to honor recipients of the Purple Heart in the East Room of the White House on August 07, 2025 in Washington, DC. Anna Moneymaker | Getty ImagesPresident Donald Trump on Friday warned U.S. courts against blocking his tariff policy, citing its “positive impact” on the stock market and saying such a move could cause a severe economic downturn.”If a Radical Left Court ruled against us at this late date, in an attempt to bring down or disturb the largest amount of money, wealth creation and influence the U.S.A. has ever seen, it…
People walk past a Sweetgreen restaurant in Manhattan.Jeenah Moon | The Washington Post | Getty ImagesSweetgreen shares dropped more than 25% on Friday after the salad chain cut its 2025 outlook for the second quarter in a row, citing issues with its loyalty program, weak consumer sentiment, tariff headwinds and store challenges.For the full-year 2025, Sweetgreen now expects revenue of between $700 million and $715 million, down from its May prediction of $740 million to $760 million and its February outlook of $760 million to $780 million.It also projects negative same-store sales for the full year, estimating declines of between…
The end of Tesla ‘s own AI supercomputer efforts — where it was developing its own chips — means Elon Musk’s company will become an even bigger customer for major chipmakers, according to Wells Fargo. Analyst Aaron Rakers highlighted Nvidia and Advanced Micro Devices as beneficiaries of Tesla’s decision to shut down its custom-built AI training supercomputer Dojo team, which was first reported by Bloomberg on Thursday. Pete Bannon, Tesla hardware design engineering vice president, is leaving the company after joining from Apple in 2016, CNBC confirmed. Remaining employees are being reassigned to Tesla, Bloomberg’s report said, citing people familiar…
Key PointsPrivate investment firms of the ultra-rich made 60% fewer direct investments in July compared with the same period last year, according to Fintrx.Rattled by tariff uncertainty, some family offices have been investing more overseas, especially in European startups.Infinitas Capital’s Robin Lauber told CNBC why the Swiss family office is optimistic despite the market turmoil.A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Private investment firms of the ultra-rich once again dialed back their deal-making…
