Alphabet Chief Investment Officer Ruth Porat (L) and Nvidia CEO Jensen Huang (R) wait to meet the Saudi Crown Prince at the Royal Court in Riyadh on May 13, 2025.Brendan Smialowski | Afp | Getty ImagesTechnology giants OpenAI, Oracle, Nvidia and Cisco are joining forces to help build a sweeping Stargate artificial intelligence campus in the United Arab Emirates.”AI is the most transformative force of our time,” said Nvidia CEO Jensen Huang in a release Thursday. “With Stargate UAE, we are building the AI infrastructure to power the country’s bold vision – to empower its people, grow its economy, and…
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Traders work on the floor of the New York Stock Exchange on May 21, 2025 in New York City. Spencer Platt | Getty ImagesStocks were unchanged Thursday following a sizable sell-off on Wall Street as worries about a ballooning deficit deepened. The 30-year Treasury yield hit its highest since October 2023 as lawmakers passed a bill that investors fear could worsen the U.S. deficit.The Dow Jones Industrial Average slipped 32 points, or 0.1%. The S&P 500 fell 0.1%, while the Nasdaq Composite traded marginally above flat.In a party line vote early Thursday, House members approved the bill that includes lower…
Barclays CEO C. S. Venkatakrishnan speak during the Barclays Sustainable Finance conference in New York City, U.S., March 19, 2024. Brendan McDermid | ReutersWashington’s protectionist trade policies are posing a “real challenge” to European nations as they seek to raise their security contributions, according to Barclays CEO C. S. Venkatakrishnan.”I think Europe has a real challenge in adjusting to tariffs. It’s got to find space, fiscal space, to increase defense spending, and it’s got to look at consolidation in financial institutions, in within its market,” the executive told CNBC’s Steve Sedgwick on Thursday. The European Union currently faces a 25% U.S.…
Check out the companies making headlines before the bell: Advance Auto Parts — Shares surged more than 30% after Advance Auto Parts topped first-quarter expectations. The auto parts company posted an adjusted loss of 22 cents per share, narrower than the loss of 82 cents per share analysts polled by LSEG had anticipated. Revenue of $2.58 billion exceeded the $2.50 billion consensus estimate. Nike — The footwear stock added almost 1% after the company said it would resume sales on Amazon . Nike had previously been a “gated” brand on the site, which means sales were highly restricted, after the…
Analysts see even more gains ahead for Snowflake after on the back of the cloud-based data storage company’s strong strong first-quarter print. The cloud company posted first-quarter earnings and revenue that beat analyst expectations. On top of that, Snowflake raised its fiscal 2026 revenue outlook. The results and updated guidance sent shares more than 9% higher in the premarket. The company has benefitted from higher enterprise spending from companies prioritizing artificial intelligence spending and looking to shift their workloads to the cloud. Its AI deals with other startups have also broadened its customer base to companies looking to build AI…
Chinese smartphone company Xiaomi is developing its own chip called Xring O1.Cfoto | Future Publishing | Getty ImagesBEIJING — Chinese smartphone company Xiaomi is taking on Apple’s iPhone with an advanced chip and a cheaper phone.Xiaomi is winning the battle on the pricing of its latest phone. The new Xiaomi 15S Pro starts at 5,499 yuan ($764) — making it eligible for a state-subsidized discount — and is significantly cheaper than Apple models containing the company’s most advanced phone chip. The iPhone 16 Pro starts at 7,999 yuan, while the iPhone Pro Max model begins at 9,999 yuan — above…
People board Ryanair plane at Rome Ciampino Airport in Ciampino, Italy on April 27, 2025.Nurphoto | Nurphoto | Getty ImagesAirlines are facing an uphill battle during peak travel season as delivery delays at Boeing and Airbus fuel a commercial jet shortage.The ongoing capacity issue remains a cause of concern for the industry even as many appear upbeat on the demand outlook.”Demand looks good for the summer,” EasyJet CEO Kenton Jarvis told CNBC’s “Squawk Box Europe” on Thursday.”As you said, our book position for both our third quarter, which ends in June, and our fourth quarter, which ends in September, are…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailBrian Kelly, The Points Guy founder, joins ‘Squawk Box’ to discuss the upcoming summer travel season, state of the consumer, the practice of skiplagging, travel chaos at Newark airport, and more. Source link
Behind highly secured doors in a giant lab in the Netherlands, there’s a machine that’s transforming how microchips are made. ASML spent nearly a decade developing High NA, which stands for high numerical aperture. With a price tag of more than $400 million, it’s the world’s most advanced and expensive chipmaking machine. CNBC went to the Netherlands for a tour of the lab in April. Before that, High NA had never been filmed, even by ASML’s own team.Inside the lab, High NA qualification team lead Assia Haddou gave CNBC an exclusive, up-close look at the High NA machines, which she said…
Growth in Planet Fitness is nowhere near done, according to Stifel. Analyst Chris O’Cull upgraded shares of the gym chain to buy from hold and raised his price target to $120 from $82. That new objective suggest shares of Planet Fitness could jump roughly 15% from their latest close. The stock has rallied 10% this month after the company reaffirmed its full-year earnings per share, revenue and system-wide same club sales growth. “Recent results suggest gross joins have stabilized, and we believe there are several potential catalysts to keep comparable sales in the mid-to-high single-digit range over the next couple…
