Key Points Fund manager Gavin Baker identified a "cross-sectional inefficiency" in AI stocks. He argued that valuations can't be accurate for both the cheap and expensive stocks in AI. AI stocks may rise and fall in the same cycle. 10 stocks we like better than Nvidia › Gavin Baker, the Chief Investment Officer of the hedge fund Atreides Management, has established itself as one of the top tech in...
Key Points Fund manager Gavin Baker identified a "cross-sectional inefficiency" in AI stocks. He argued that valuations can't be accurate for both the cheap and expensive stocks in AI. AI stocks may rise and fall in the same cycle. 10 stocks we like better than Nvidia › Gavin Baker, the Chief Investment Officer of the hedge fund Atreides Management, has established itself as one of the top tech investors operating today. In eight years managing the OTC Portfolio at Fidelity, Baker achieved a compound annual return rate of more than 19% and outperformed 99% of his peers on Morningstar. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » At Atreides, Baker now oversees around $7 billion in public and private investments, and, though his complete returns aren't public, he does have a Sharpe ratio of 2.46, according to Tipranks, well above the average hedge fund, meaning he's able to achieve higher returns without taking on more risk. Baker also shares his insights on social media, and he just dropped a gem on AI stock valuations. Speaking on the All-In podcast, he described the AI sector as "cross-sectionally inefficient," explaining that the multiples in the sector don't make sense relative to one another. As he observes, memory stocks like Micron (NASDAQ: MU) and Sandisk (NASDAQ: SNDK) are cheap right now. Baker also says Nvidia (NASDAQ: NVDA) is trading at a really low P/E. Conversely, he said that multiples in stocks dealing with power, cooling, and optical are much higher. Stocks like Lumentum Holdings (NASDAQ: LITE), an optical chipmaker that has jumped 10x over the last year, trade at a triple-digit price-to-earnings ratio. Similarly, Coherent (NYSE: COHR), another optical stock that has soared over the last year, trades at a triple-digit P/E. Baker goes on to conclude that if the multiples on sto...
The US military said it had carried out another strike Friday on a boat accused of smuggling drugs in the eastern Pacific Ocean, killing three men in the third attack this week and pushing the overall death toll above 200 people. US Southern Command announced the latest strike in the months-long campaign against alleged drug boats traversing the Caribbean Sea and eastern Pacific with its usual lan...
The US military said it had carried out another strike Friday on a boat accused of smuggling drugs in the eastern Pacific Ocean, killing three men in the third attack this week and pushing the overall death toll above 200 people. US Southern Command announced the latest strike in the months-long campaign against alleged drug boats traversing the Caribbean Sea and eastern Pacific with its usual language that the vessel was “engaged in narco-trafficking operations” and operated by a designated terrorist organization. It provided no evidence. Southern Command said in its post on X that the strike came at the direction of Gen Francis L Donovan, the top US commander in Latin America, who on Friday also met with Cuban military leaders near the US Navy base in Guantánamo Bay. While the military’s social media announcements always include video of the attacks, this appears to be the first with the footage in color instead of black and white. The video shows a small vessel floating in the ocean before it’s hit and engulfed in a fireball. It cuts to what could be the boat in flames, surrounded by a large plume of parcels or some other objects spread around it in the water. The attack puts the death toll at 202 people from the series of US strikes that began in early September, with two other attacks announced Tuesday and Wednesday. The Trump administration has declared that the US is at armed conflict with Latin American drug cartels, saying they are behind the flow of drugs into American communities. However, the administration has not provided definitive evidence that the vessels are involved in drug trafficking, prompting debate about the legality of the operations. Experts and human rights advocates, both in the US and globally, have raised questions about their legality, with Human Rights Watch and Amnesty International saying the strikes amount to “unlawful extrajudicial killings”. The American Civil Liberties Union casts the assertions by the Trump administration again...
Iranian Opposition News Outlet Got $800 Million In Debt Relief: Report Via Middle East Eye An $870m debt-relief deal suggests that Iran International, an Iranian opposition outlet, has ties to Saudi Arabian investors, according to a Financial Times report on Thursday. The links stem from documents related to a debt-for-equity swap that Iran International conducted in December to shore up its finan...
Iranian Opposition News Outlet Got $800 Million In Debt Relief: Report Via Middle East Eye An $870m debt-relief deal suggests that Iran International, an Iranian opposition outlet, has ties to Saudi Arabian investors, according to a Financial Times report on Thursday. The links stem from documents related to a debt-for-equity swap that Iran International conducted in December to shore up its finances. Iran International has spent hundreds of millions of dollars since its founding in 2017 by British-Saudi investors, the FT reported. According to the report, Iran International’s parent company, Volant Media UK, has lost more than $550m over the past five years, and it owes related entities about $645m . Those numbers came from documents that the FT reported as covering the financial year ending December 2024. via AFP Iran International says it is the “most popular Persian speaking foreign based news channel in Iran” .It employs 700 people and broadcasts into Iran from London via satellite, radio and social media outlets. Iran International has been accused by critics of promoting “regime change” in Iran and advancing the position of the former shah’s son, Reza Pahlavi, for a return to power . The outlet has long denied links to Israel or Saudi Arabia. Iran International reported heavily on protests that struck Iran at the beginning of this year, sparked by a cost-of-living crisis brought on, in part, by US sanctions. In January 2025, the news site reported that more than 36,500 people were killed in a crackdown on protests. Those numbers were significantly higher than those estimated by the US and other western-based human rights groups . US President Donald Trump cited casualty numbers similar to those reported by Iran International days before launching a war on Iran on February 28, but d id not disclose where he had gotten the death toll number . Links A New York Times report from April said that Israel also lobbied Trump to intervene in Iran, citing the protests t...
Shares of Dell Technologies (DELL +32.76%) soared on Friday after the computer maker delivered a blockbuster earnings report. Staggering AI-driven gains Dell's revenue surged 88% year over year to $43.8 billion in its fiscal 2027 first quarter, which ended on May 1. Revenue for Dell's Client Solutions Group, which includes sales of desktop PCs, laptops, monitors, and related equipment to both cons...
Shares of Dell Technologies (DELL +32.76%) soared on Friday after the computer maker delivered a blockbuster earnings report. Staggering AI-driven gains Dell's revenue surged 88% year over year to $43.8 billion in its fiscal 2027 first quarter, which ended on May 1. Revenue for Dell's Client Solutions Group, which includes sales of desktop PCs, laptops, monitors, and related equipment to both consumers and commercial clients, grew 17% to $14.6 billion. Yet it was the tech giant's Infrastructure Solutions Group that stole the show. Revenue in this division, which houses Dell's data center-related businesses, rocketed 181% higher to $29 billion. The gains were fueled by a stunning 757% surge in artificial intelligence (AI)-optimized server sales, to $16.1 billion. Expand NYSE : DELL Dell Technologies Today's Change ( 32.76 %) $ 103.86 Current Price $ 420.91 Key Data Points Market Cap $207B Day's Range $ 402.27 - $ 429.15 52wk Range $ 106.38 - $ 429.15 Volume 41.8M Avg Vol 8M Gross Margin 19.97 % Dividend Yield 0.70 % Moreover, price hikes helped to bolster Dell's profit margins. All told, Dell's adjusted net income leaped 194% to $3.2 billion. Its adjusted earnings per share, boosted by stock buybacks, soared 214% to $4.86. This growth story is far from over Dell now sees its full-year revenue growing by 47% to between $165 billion and $169 billion, with adjusted earnings rising 74% to $17.90. "We're increasing our AI server revenue expectations for FY27 to $60 billion, which only goes to show the AI opportunity shows no signs of slowing," chief operating officer Jeff Clarke said. With its data center sales booming, Dell stands as one of the top AI stocks in the market today.
Ukrainian president calls on country to ‘protect your lives’; Nato fury as drone hits Romanian apartment block. What we know on day 1,557 Ukraine’s president Volodymyr Zelenskyy says Russia is preparing a “massive new strike” on the country , calling on the population to take action to “protect your lives”. Kyiv was hit particularly hard last weekend by a huge Russian bombardment attack – one of t...
Ukrainian president calls on country to ‘protect your lives’; Nato fury as drone hits Romanian apartment block. What we know on day 1,557 Ukraine’s president Volodymyr Zelenskyy says Russia is preparing a “massive new strike” on the country , calling on the population to take action to “protect your lives”. Kyiv was hit particularly hard last weekend by a huge Russian bombardment attack – one of the largest since the Kremlin’s full-scale invasion in 2022. Moscow has warned foreign diplomats to leave Kyiv, threatening to escalate attacks as it seeks revenge for a Ukrainian strike on a dormitory and high school in the Russian-occupied Luhansk region, which Moscow says left 21 people dead. “We have intelligence information about Russia preparing a new massive strike,” Zelenskyy said in a social media message. “Please pay attention to air alerts, protect your lives. Our services are working efficiently and are prepared; the Air Force and other defenders of our skies will be on duty 24/7, as always.” Zelenskyy has reiterated his call to allies to allow and finance the supply of Patriot missiles, which can intercept Russian ballistic missiles. He wrote to Donald Trump and the US Congress earlier this week asking for Patriot systems to respond to the intensifying Russian air attacks. A Ukrainian drone attack killed two people in a car in Russia’s border region of Belgorod , officials said early on Saturday. The region’s operational headquarters, in a post on Telegram, added that two people were injured. The region has been a frequent target of Ukrainian attacks in war between the two countries. A Russian drone that smashed into a Romanian apartment building set off furious condemnation of Russia by Romania and its Nato allies . Two people were injured in the first drone hit on a building outside Ukraine since the start of the war. Romania called the incident a “serious and irresponsible escalation” by its neighbour. Vladimir Putin attempted to suggest, without evidence, th...
U.S. Secretary of Defense Pete Hegseth takes questions during a press briefing at the Pentagon on May 5, 2026 in Arlington, Virginia. Chip Somodevilla | Getty Images The U.S. aims to sustain equilibrium in the Asia-Pacific region and is working toward a situation where its allies are more capable, Secretary of War Pete Hegseth said, while also warning China not to disrupt the status quo. "The bedr...
U.S. Secretary of Defense Pete Hegseth takes questions during a press briefing at the Pentagon on May 5, 2026 in Arlington, Virginia. Chip Somodevilla | Getty Images The U.S. aims to sustain equilibrium in the Asia-Pacific region and is working toward a situation where its allies are more capable, Secretary of War Pete Hegseth said, while also warning China not to disrupt the status quo. "The bedrock of partnership is alignment on national interests," Hegseth said in remarks at the Shangri-La Dialogue in Singapore on Saturday. The U.S. will take a "strong, quiet, clear" approach to alliances, he said. He praised countries like the Philippines, Australia, Indonesia, Malaysia and Singapore for stepping up and sharing the burdens of defense and alliances. Vietnam and India also got call-outs for improving their military readiness. While Hegseth said the U.S.'s relationship with China is the strongest it's been in a long time, he also directly called out the country. Washington seeks "a favorable but durable balance of power in which no state, including China, can impose its hegemony and hold the security or prosperity of our nation and our allies in question," he said. Hegseth had some choice words for Europe, complaining that allies in the region hadn't pulled their weight. Alliances should happen "without the drama and the moralizing," he said. "Europe should take note." — This is breaking news, please check back for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Ukraine is starting to regain more ground than it is losing for the first time since 2023, analysis from the Institute for the Study of War (ISW) indicates. After more than four years of war and increased Russian occupation of eastern and southern Ukraine, neither side has gained any significant ground in recent months.
Ukraine is starting to regain more ground than it is losing for the first time since 2023, analysis from the Institute for the Study of War (ISW) indicates. After more than four years of war and increased Russian occupation of eastern and southern Ukraine, neither side has gained any significant ground in recent months.
Key Points Lennar utilizes a land-light strategy and maintains a massive presence across 26 states to drive consistent home deliveries. D.R. Horton leverages its position as the largest U.S. homebuilder to offer affordable housing options across 36 states. Which residential construction leader offers the best value for investors looking to build a position in 2026? 10 stocks we like better than Le...
Key Points Lennar utilizes a land-light strategy and maintains a massive presence across 26 states to drive consistent home deliveries. D.R. Horton leverages its position as the largest U.S. homebuilder to offer affordable housing options across 36 states. Which residential construction leader offers the best value for investors looking to build a position in 2026? 10 stocks we like better than Lennar › The housing market remains a focal point for investors, making the choice between Lennar (NYSE:LEN)and D.R. Horton (NYSE:DHI)a critical decision for those seeking exposure to residential construction. Lennar focuses on high-tech homebuilding and financial services, while D.R. Horton maintains its position as the nation's largest builder by volume. Both companies must navigate high interest rates and shifting demographics, but they utilize different land-acquisition strategies and product mixes to capture demand in a changing economic landscape. The case for Lennar Lennar operates as a major homebuilder with a geographic footprint spanning 26 states, including high-growth markets in Florida, Texas, and California. The company delivered more than 82,500 new homes in 2025, serving a wide range of buyers from first-time homeowners to luxury clients. It also operates segments for mortgage loans and title insurance, which integrate the home-buying experience for its customers. In FY 2025, revenue reached nearly $34.2 billion. This figure represented a decrease of approximately 3.5% compared to the previous year, reflecting broader market shifts in the housing industry. Net income for the period was close to $2.1 billion, resulting in a net margin of roughly 6.1%, which measures the percentage of revenue remaining after all expenses are paid. As of its November 2025 balance sheet, the debt-to-equity ratio was approximately 0.3x. This ratio measures total debt relative to shareholder equity, indicating the company maintains a conservative level of leverage. The current ratio...