watch now VIDEO 1:57 01:57 Nvidia CEO Jensen Huang says Corning partnership will 'revitalize American manufacturing' Mad Money with Jim Cramer Nvidia CEO Jensen Huang told CNBC's Jim Cramer that the company's new partnership with Corning represents an important opportunity to rebuild critical parts of the technology supply chain in the United States. "We're going through the single largest infrast...
watch now VIDEO 1:57 01:57 Nvidia CEO Jensen Huang says Corning partnership will 'revitalize American manufacturing' Mad Money with Jim Cramer Nvidia CEO Jensen Huang told CNBC's Jim Cramer that the company's new partnership with Corning represents an important opportunity to rebuild critical parts of the technology supply chain in the United States. "We're going through the single largest infrastructure buildout in human history," Huang said " Mad Money " on Wednesday. "Artificial intelligence is going to become fundamental infrastructure all over the world, and surely here in the United States." His comments came one day after Nvidia announced a major partnership with Corning to dramatically expand domestic optical connectivity manufacturing capacity. As part of the deal, Corning is building three new facilities in Texas and North Carolina, saying it will create more than 3,000 jobs. Corning shares surged more than 12% following the announcement in Wednesday's session, while Nvidia shares popped 6%. Cramer's Charitable Trust , the portfolio used by the CNBC Investing Club, owns the stocks of both Corning and Nvidia. Huang said the scale of AI infrastructure spending is creating a unique opportunity to reinvest in American manufacturing and supply chains after decades of offshoring. The technology supply chain, in particular, has developed strong roots in places like Taiwan, China and Vietnam. "This is such an extraordinary opportunity because we can use these market dynamics to reinvest, revitalize American manufacturing for the first time in several generations," he said. The partnership centers on optical technologies used to connect chips within massive AI data centers. Huang said the next generation of AI infrastructure will require enormous amounts of optical connectivity as computing demands are rapidly increasing to the point where copper wires aren't able to keep up. "We're going to scale up optical at a scale that, quite frankly, no optical companies have...
Just_Super/iStock via Getty Images An important change Big Tech is undergoing a dramatic shift in its financial structure. Traditionally characterized by low capital requirements, high profit margins and significant ability to generate cash flow as well as high operating margins, many leading
Just_Super/iStock via Getty Images An important change Big Tech is undergoing a dramatic shift in its financial structure. Traditionally characterized by low capital requirements, high profit margins and significant ability to generate cash flow as well as high operating margins, many leading
Nokia (NYSE:NOK), the Finnish network equipment and solutions firm, closed Thursday at $12.35, down 6.37%. Shares may have fallen on profit-taking or broader AI valuation jitters. European stocks slipped today on geopolitical concerns.
Nokia (NYSE:NOK), the Finnish network equipment and solutions firm, closed Thursday at $12.35, down 6.37%. Shares may have fallen on profit-taking or broader AI valuation jitters. European stocks slipped today on geopolitical concerns.
A publicly-traded private credit fund managed by Goldman Sachs Group Inc. put two additional companies on non-accrual status in the first quarter, as the industry grapples with mounting concerns over exposure to businesses vulnerable to AI-driven disruption. Investments with the designation, typically reserved only for a fund’s most troubled holdings, now comprise 4.7% of Goldman Sachs BDC Inc. ’s...
A publicly-traded private credit fund managed by Goldman Sachs Group Inc. put two additional companies on non-accrual status in the first quarter, as the industry grapples with mounting concerns over exposure to businesses vulnerable to AI-driven disruption. Investments with the designation, typically reserved only for a fund’s most troubled holdings, now comprise 4.7% of Goldman Sachs BDC Inc. ’s portfolio at cost, the fund said in a filing late Thursday. That’s up 1.9 percentage points from the prior quarter. The new additions include security software provider 3SI Security Systems and physician-practice management group One GI. The $3.2 billion fund is the latest to add investments to non-accrual status, joining BDCs managed by Morgan Stanley, Blackstone Group Inc. and others. More than 99.5% of the fund’s total non-accruals at cost are positions that predated when current management took over the portfolio in March 2022, according to Vivek Bantwal , Goldman’s global co-head of private credit. “Our internal workout teams are deeply engaged with these borrowers to maximize recovery,” Bantwal said in a statement. “The team believes the fundamental health of the private credit industry remains strong and is confident in our credit selection process.” Goldman Sachs BDC also cut the value of its assets by 3.7% to $12.17 per share. It left its dividend unchanged at 32 cents from the quarter prior.
Universities across the US reported widespread outages on Thursday after a cybersecurity incident affected the Canvas online learning platform used by colleges nationwide. The disruption involved software from Salt Lake City-based Instructure, which operates Canvas and builds technology for online learning and corporate training. Universities including Stanford, Columbia and Princeton were among t...
Universities across the US reported widespread outages on Thursday after a cybersecurity incident affected the Canvas online learning platform used by colleges nationwide. The disruption involved software from Salt Lake City-based Instructure, which operates Canvas and builds technology for online learning and corporate training. Universities including Stanford, Columbia and Princeton were among the schools that reported outages tied to the incident or warned students to remain alert for suspicious messages. The Harvard Crimson student newspaper reported Thursday that students had also lost access to the Canvas platform. Instructure Chief Information Security Officer Steve Proud reported a cybersecurity incident involving a “criminal threat actor” on its website on May 1. Stanford said it was affected by the “nationwide cybersecurity incident” and cited information from Instructure saying the breach involved certain identifying information, including names, email addresses, student ID numbers and messages among users. Rutgers University said in a statement on its website that it was unclear what school data may have been compromised. Baylor University urged students to beware of phishing messages that may aim to steal their information from attackers impersonating the school’s IT staff. A Duke security spokesperson confirmed the incident and told the student body that they are “closely monitoring the incident,” according to the school’s student publication . A prolific cybercrime group, ShinyHunters, said it was responsible for the cyber incident in a dark web post seen by Bloomberg News. Instructure hasn’t confirmed that ShinyHunters was behind an attack. The group frequently steals victims’ data, then demands an extortion fee. Hackers frequently target the US education sector. Attackers struck a number of Ivy League universities last year, stealing sensitive data and students’ personal information in breaches at Dartmouth College, Harvard, Princeton and the Univer...