Dutch semiconductor equipment maker ASML expects new low-cost models like the one rolled out by China’s DeepSeek to lead to more — rather than less — demand for AI chips, CEO Christophe Fouquet told CNBC Wednesday.ASML beat estimates on both sales and profit for the fourth quarter and said it had an order backlog of roughly 36 billion euros ($37.4 billion) at the end of 2024. The news prompted a jump in the firm’s shares as investor fears that DeepSeek’s model could cool semiconductor spending ebbed.Without addressing the specifics of DeepSeek’s newly revealed R1 model — which took the tech…
Author: usaeverydaylife
After more than a year of Israeli bombardment in Gaza, there were few blessings left for Talal and Samar al-Najjar to count by the time a cease-fire deal was agreed to this month. Their home was in ruins, they and their children were displaced, and they were staving off hunger.Yet they counted themselves lucky: Their family of seven was intact, something to feel grateful for in the war between Israel and Hamas, which has killed tens of thousands. Many more are likely to be unearthed from the rubble.Then, with only hours until the Palestinian enclave’s 15-month nightmare was set to…
Brian Niccols, CEO of Starbucks, speaking with CNBC on Oct. 31, 2024.CNBCStarbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.”As we focus on our ‘Back to Starbucks’ plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,” Niccol said in a letter to employees shared on the company’s website.Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that…
Nicolai Tangen, CEO of Norges Bank Investment Management, at the World Economic Forum in Davos, Switzerland, on Jan. 22, 2025.Stefan Wermuth | Bloomberg | Getty ImagesNorway’s sovereign wealth fund — the largest of its kind in the world — posted full-year profit of 2.5 trillion kroner ($222.4 billion) on Wednesday, fueled by a tech rally.Its return on investment came in at 13% for the year, 45 basis points lower than the return on the fund’s benchmark index.Speaking at a press conference on Wednesday, Norges Bank Investment Management (NBIM) Deputy CEO Trond Grande described a “very, very strong year for equities”…
Microsoft CEO Satya Nadella, right, speaks with OpenAI CEO Sam Altman at OpenAI’s Dev Day in San Francisco on Nov. 6, 2023.Hayden Field | CNBCOpenAI CEO Sam Altman suggested on Tuesday that the relationship between his company and Microsoft is going strong.Altman posted a picture with Microsoft CEO Satya Nadella on social media site X, and wrote that the “next phase” of their partnership is “gonna be much better than anyone is ready for!!” Nadella responded to the post, saying he is “looking forward to all that’s ahead!”The alliance between the companies has been riddled with tension of late, and…
A photograph taken on April 23, 2024 shows a view of the new Louis Vuitton luxury shop belonging to French luxury group LVMH Moet Hennessy Louis Vuitton SA, on the Champs Elysee avenue in Paris.Julien De Rosa | Afp | Getty ImagesShares of LVMH dropped 5% on Wednesday after slightly better-than-expected annual results from the world’s largest luxury company threw doubt over a broader recovery in the luxury sector.The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted revenues of 84.68 billion euros ($88.27 billion) for 2024, exceeding the 84.38 billion euros forecast by LSEG analysts and equating to…
Many people were feared to have been killed early Wednesday after millions of Hindu pilgrims at the Maha Kumbh Mela, a huge festival in the Indian city of Prayagraj, rushed to bathe in holy river waters on what is considered one of the most auspicious dates in the Hindu calendar.As pilgrims rushed to the confluence of the Ganges and Yamuna rivers, which Hindus consider sacred, thousands of people who were sleeping on the river banks were trampled, safety barricades broke and fences were pulled down, government officials said. Others were trying to escape after bathing, adding to the chaos.Videos and…
A print copy of “The 38 Letters from J.D. Rockefeller to his son: Perspective, Ideology and Wisdom” purchased on Amazon.CNBCThe mystery around a top-selling Amazon book attributed to John D. Rockefeller has grown to include a university publisher, which denies any involvement in the book despite being listed as its publisher.CNBC began raising questions last month about the authenticity of “The 38 Letters from J.D. Rockefeller to his son: Perspective, Ideology and Wisdom,” a purported collection of letters by John D. Rockefeller Sr. sold on Amazon, Barnes & Noble and other sites.The mysterious origin of “The 38 Letters” raises a…
The Vietnam War ended half a century ago, but American weapons from that era continue to kill people to this day. Unexploded bombs rained down by American troops are littered across large swaths of Vietnam and neighboring Cambodia and Laos. They have killed tens of thousands and maimed many more since the fighting ended.People have been working to clear out these bombs for decades, but experts say it may take another 100 years to finish the job. Parts of the region are also strewn with land mines laid during other conflicts. The United States is a big part of the…
The White House on Monday ordered a pause on federal grants and loans, according to a memo, but the Department of Education said the freeze will not affect student loans or financial aid for college.The freeze, which could affect billions of dollars in aid, noted an exception for Social Security and Medicare. The pause “does not include assistance provided directly to individuals,” according to the memo.The pause gives the White House time to review government funding for causes that don’t fit with President Donald Trump’s policy agenda, according to Matthew J. Vaeth, acting director of the White House Office of Management…
