Don’t overlook the artificial intelligence potential of Cisco Systems , Citi said. Analyst Atif Malik upgraded shares of the networking company to buy from neutral, citing a shrinking valuation gap relative to peers and a growing AI ethernet total addressable market poised to hit $10 billion by 2025. “While AI is currently a small piece of the biz (~2% of revs), we see the potential for a stronger contribution,” he wrote. “With more AI coming, we are incrementally more constructive on the group and expect continued investor rotation out of semis/hardware into networking equipment to benefit group valuation.” Shares added…
Author: usaeverydaylife
Style-photography | Istock | Getty ImagesGenerative artificial intelligence startups are getting 40% of all the venture capital funding that flows into cloud companies, according to venture investors Accel.In its latest annual Euroscape report, which looks at key cloud and AI trends, Accel said that venture funding for cloud startups based in the U.S., Europe and Israel is projected to rise to $79.2 billion this year, with artificial intelligence fueling much of the recovery.Venture funding into the cloud industry climbed 27% annually — marking the first year of growth in three years. Cloud startups raised $62.5 billion in Europe, Israel and the U.S.…
Growing political pressure aside, Thailand’s weak economy adds to the case for the central bank to cut interest rates sooner rather than later, according to money managers.Bloomberg | Bloomberg | Getty ImagesThailand’s central bank unexpectedly cut its key interest rate at a policy review on Wednesday, a move long called for by the government as needed to revive a sluggish economy with inflation below target.The Bank of Thailand’s monetary policy committee voted 5 to 2 to reduce the one-day repurchase rate by 25 basis points to 2.25%, after the rate had been a decade-high of 2.50% since September 2023.Only four of…
Microsoft submitted a new proposal to U.K. regulators for the takeover of American game publisher Activision Blizzard after its initial proposal was rejected.Nurphoto | Nurphoto | Getty ImagesVideo gamers who sued over Microsoft’s $69 billion purchase of “Call of Duty” maker Activision Blizzard have settled their lawsuit claiming the blockbuster deal would harm industry competition and drive up prices.The gamers said in a joint filing, opens new tab with Microsoft in San Francisco federal court late on Monday that they were dismissing their lawsuit with prejudice, meaning they cannot refile it. The court filing did not reveal how the lawsuit…
Hong Kong Chief Executive John Lee Ka-chiu delivers his annual policy address at the Legislative Council on Oct. 16, 2024, in Hong Kong.China News Service | China News Service | Getty ImagesHong Kong chief executive John Lee announced moves aimed at addressing the city’s housing affordability crisis, calling it “an issue of great public concern” in an annual policy address on Wednesday. One keynote policy announced in his speech will look to provide an easier path to subsidized housing for citizens under the age of 40 amid mounting concerns about their ability to get a foothold in the city’s crowded housing…
Buying a home is often the biggest financial decision you’ll ever make.It’s not just about choosing a place to live; it’s about making a long-term investment that will impact your financial future for years to come.Therefore, if you are looking to buy a home, there are certain steps you should take to prepare for the purchase, according to several advisors ranked in CNBC’s 2024 Financial Advisor 100 List.”Number one is doing that initial homework and financial planning,” said Brian Brady, vice president at Obermeyer Wood Investment Counsel in Aspen, Colorado. The firm ranks No. 23 on the 2024 CNBC FA 100…
Traders work on the floor of the New York Stock Exchange on April 5, 2024.Spencer Platt | Getty Images News | Getty ImagesThis 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 what you see? You can subscribe here.What you need to know todayBreather from rallyU.S. markets fell Tuesday, weighed down by a drop in semiconductor stocks and a 8.1% slide in UnitedHealth. Asia-Pacific stocks were mostly lower Wednesday. Asian chip stocks, like Tokyo Electron and Taiwan Semiconductor Manufacturing…
The CEO of the United Arab Emirates’ premier AI firm stressed that the Gulf country is a reliable partner to the U.S. when it comes to keeping sensitive technology safe, as Washington reportedly mulls curbs on chip sales to certain countries — particularly those in the Middle East.The UAE has shown it can “guarantee the safety and the security” of chips “if and when they are being deployed and used here,” Peng Xiao, CEO of UAE AI firm G42, told CNBC at a conference in Dubai on Tuesday.His comments come as the administration of President Joe Biden continues to weigh…
The OpenAI app icon displayed along with other AI applications on a smartphone.Jonathan Raa | Nurphoto via Getty ImagesTechnology giants are turning to nuclear energy to power the energy-intensive data centers needed to train and run the massive artificial intelligence models behind today’s generative AI applications.Microsoft and Google are among the firms agreeing deals to purchase nuclear power from certain suppliers in the U.S. to bring additional energy capacity online for its data centers.This week, Google said it would purchase power from Kairos Power, a developer of small modular reactors, to help “deliver on the progress of AI.””The grid needs…
The Canary Wharf business district is seen in the distance behind autumnal leaves on October 09, 2024 in London, United Kingdom.Dan Kitwood | Getty Images News | Getty ImagesLONDON — Inflation in the U.K. dropped sharply to 1.7% in September, the Office for National Statistics said Wednesday.Economists polled by Reuters had expected the headline rate to come in at a higher 1.9% for the month, in the first dip of the print below the Bank of England’s 2% target since April 2021.Inflation has been hovering around that level for the last four months, and came in at 2.2% in August.Core…
