ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC’s “Fast Money” team discusses the banking sector and the outlook for mergers and acquisitions in the sector after regional bank Huntington Bancshares acquired Cadence for more than $7 billion with Drew McKnight, co-CEO and managing partner of Fortress Investment Group. Source link
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AMD Chair and CEO Lisa Su looks on, on the day of a meeting of the White House Task Force on Artificial Intelligence (AI) Education in the East Room at the White House in Washington, D.C., U.S., September 4, 2025. Brian Snyder | ReutersThe U.S. has formed a $1 billion partnership with Advanced Micro Devices to construct two supercomputers that will tackle large scientific problems ranging from nuclear power to cancer treatments to national security, Energy Secretary Chris Wright and AMD CEO Lisa Su told Reuters.The U.S. is building the two machines to ensure the country has enough supercomputers to…
Tom Hulick, Strategy Asset Managers CEO, has a few innovative companies he’s recommending to investors. Hulick joined CNBC’s ” Power Lunch ” on Monday to give his bullish take on a handful of stocks, including artificial intelligence chipmaker Broadcom as part of the “Power Check” segment. Take a look at what he had to say: Broadcom Hulick, an owner of Broadcom, named the company one of his top investments and noted that it has done “very well with their revenues.” Shares of Broadcom are up nearly 56% year to date and more than 9% this month, with shares booming on…
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty ImagesOpenAI on Monday said the U.S. needs to substantially ramp up its investment in new energy capacity if it wants to stay ahead of China in the race to develop artificial intelligence.The startup has been inking deals for ambitious infrastructure buildouts in recent months that will require massive amounts of power. The sprawling data centers will push the boundaries of what is possible in the U.S. during…
A person walks by The Spheres at the Amazon.com Inc. headquarters in Seattle, Washington, on Nov. 14, 2022.David Ryder | Getty Images News | Getty ImagesAmazon is preparing to announce sweeping job cuts beginning Tuesday, CNBC has learned.The layoffs will amount to the largest cuts to Amazon’s corporate workforce in the company’s history, spanning almost every business, according to a person familiar with the matter, who asked not to be named because the details are confidential.Amazon is expected to begin informing employees of the layoffs via email Tuesday morning, the person said.The company plans to lay off as many as…
Amazon Proteus robots demonstrate autonomous navigation using barcodes on the floor during the Delivering the Future event at the Amazon Robotics Innovation Hub in Westborough, Massachusetts, US, on Thursday, Nov. 10, 2022. Bloomberg | Bloomberg | Getty ImagesArtificial intelligence is widening the productivity gap between large and small companies, lifting up bigger firms that are able to effectively scale the technology and cut costs tie to human workers.Large-cap companies are seeing steady AI-related productivity gains since the release of OpenAI’s ChatGPT model in 2022 in terms of their real revenue per worker, according to a Wells Fargo analysis. Small-cap names are…
Several companies preparing to report earnings this week could see their stocks score large gains or suffer considerable losses, based on current options trading on the shares. The current earnings season has been relatively smooth so far, with more than 80% of companies that have reported results posting better-than-expected revenue or earnings-per-share for the third quarter, FactSet data shows. But a series of smaller and volatile technology stocks are set to report this week and traders expect a wild ride for many. CNBC Pro screened for stocks that are expected to see the largest options-implied move in the week ahead. Here…
Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025.Smith Collection | Gado | Archive Photos | Getty ImagesAmazon is planning to cut as many as 30,000 corporate jobs beginning on Tuesday, as the company works to pare expenses and compensate for overhiring during the peak demand of the pandemic, according to three people familiar with the matter.The figure represents a small percentage of Amazon’s 1.55 million total employees, but nearly 10% of the company’s roughly 350,000 corporate employees. This would represent the largest job cut at Amazon since around 27,000 jobs were eliminated starting…
On Tuesday, the largest component of the second-best performing sector for 2025 reports results. One would think this could generate big headlines but think again. When people think of top places to invest in a bull market, they don’t usually think utilities. Well, these aren’t your grandparents’ utilities. The need to power and build data centers to support rapid AI expansion as well as a supportive regulatory framework makes this a high growth and transformative area to invest. The Utility Sector ETF (XLU) has already broken out to new highs as it is up 23% year-to-date trailing only technology. The…
Portland Trail Blazers head coach Chauncey Billups and Terry Rozier #2 of the Miami Heat.Lachlan Cunningham | Getty ImagesThe National Basketball Association told its 30 teams on Monday that it was instituting a broad review of betting-related issues to “protect the integrity of the NBA and our affiliated leagues” in the wake of a bombshell federal indictment that alleges confidential information about players was leaked to gamblers.In particular, the review will focus on proposition bets offered by legal online sports bookies, which allow gamblers to wager on the statistical performance of individual players, according to a memo from the NBA…
