The Moderna Inc. headquarters in Cambridge, Massachusetts, on March 26, 2024.Adam Glanzman | Bloomberg | Getty ImagesModerna on Thursday said it plans to slash roughly 10% of its global workforce by the end of the year, as Covid shot sales continue to dwindle and the company grapples with uncertainty in the vaccine market. In a memo to employees, Moderna CEO Stephane Bancel said the company expects to have fewer than 5,000 workers by the end of the year. Moderna had approximately 5,800 full-time employees in 18 countries as of Dec. 31, 2024, according to its 2024 annual report. Shares of Moderna have…
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Investors should buy the recent dip in CoreWeave as strong AI demand will power shares higher, according to Citi. Analyst Tyler Radke upgraded the artificial intelligence cloud computing stock to buy from neutral. His price target of $160 implies upside of 55% from Wednesday’s close. Despite more than doubling since its IPO in late March, CoreWeave has tumbled nearly 37% over the past month, with investors skeptical about the company’s $9 billion acquisition of Core Scientific. That said, Radke noted that Microsoft’s strong quarterly figures signal AI demand remains strong — which will boost CoreWeave long term. CRWV 1M mountain…
MLB will be playing its first ever baseball game at Bristol Motor Speedway in Tennessee.MLBMajor League Baseball is taking America’s pastime to an iconic NASCAR track, and the game is set to top league attendance records.On Saturday, MLB will play its first-ever game in Tennessee as part of the MLB Speedway Classic, where the Atlanta Braves will face off against the Cincinnati Reds at Bristol Motor Speedway.It will mark the first time a professional baseball game has ever been played at a professional race car track, and MLB will incorporate NASCAR-themed elements throughout the event.The event is MLB’s latest effort…
Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024.Noah Berger | Getty ImagesLONDON — Britain’s competition regulator on Thursday declared that Microsoft and Amazon are hurting competition in the cloud computing industry and called for a further probe under the country’s strict new tech rules.The Competition and Markets Authority said that market concentration and barriers to entry in the cloud services market have enabled both Microsoft and Amazon to hold “significant unilateral market power” and reap financial gain exceeding the cost of capital expenditure over a…
CNBC’s Jim Cramer on Wednesday explained why he’s positive on Starbucks for the long term, even as the coffee chain reported a same-store sales decline that led to a choppy day of trading.”If Brian Niccol keeps delivering on the turnaround front, I bet Starbucks and its shareholders will be huge winners,” he said. “That’s still my expectation here, and I feel even better about it tonight than I did last night before the company reported.”Starbucks posted a revenue beat but didn’t meet earnings estimates. The coffee company saw same-store sales fall for the sixth consecutive quarter, but CEO Brian Niccol…
Budweiser beer cans displayed for sale in a supermarket. Sopa Images | Lightrocket | Getty ImagesShares of AB InBev plunged as much as 11% Thursday after the world’s largest brewer posted a worse-than-feared decline in second-quarter volumes, even as revenues and profits surged ahead.The Budweiser maker said volumes declined 1.9% year-on-year over the three-month period, well ahead of the 0.3% dip forecast by analysts on the back of weaker demand for its beer products.Shares had pared down their losses and were last seen down 8.71% at 9:49 a.m. London time (4:49 a.m. ET).The drop was led by China, where volumes…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFlyadeal CEO Steven Greenway joins CNBC’s Access Middle East to discuss the airline’s first half results, passenger growth and their recent wide-body order. Source link
Blue-collar jobs are least likely to be impacted by AI, Microsoft research finds.Reza Estakhrian | The Image Bank | Getty ImagesBlue-collar jobs have a new sheen to them as desk workers become increasingly vulnerable to being replaced by artificial intelligence.Microsoft examined the link between how much certain workers rely on AI tools and the potential impact to their professions, in a new report titled “Occupational Implications of Generative AI.”The tech giant’s researchers analyzed data from 200,000 anonymized and privacy-scrubbed conversations in the U.S. between users and the tech giant’s AI chatbot companion, Microsoft Bing Copilot, gathered over nine months between…
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Jaque Silva| Nurphoto | Getty ImagesOpenAI on Thursday said it is launching a Stargate-branded AI data center in Norway, marking its first foray into Europe with such a project.British firm Nscale will design and build the site as part of a 50-50 joint venture with Norwegian energy infrastructure firm Aker.OpenAI will be a so-called “off-taker” in the project, meaning it will effectively buy capacity from the data center.”Part of the purpose of this project is to partner with OpenAI and leverage European sovereign compute to release additional services and features to the European continent,” Josh Payne, CEO of Nscale, told…
