Snowflake (NYSE: SNOW) is expanding its partnership with Amazon (NASDAQ: AMZN) , specifically Amazon Web Services (AWS), in a collaboration aimed at accelerating AI capabilities among enterprise customers. The news of the multiyear deal sent Snowflake's shares soaring more than 35%. Here's what investors need to understand about the partnership. The agreement aims to help enterprise customers full...
Snowflake (NYSE: SNOW) is expanding its partnership with Amazon (NASDAQ: AMZN) , specifically Amazon Web Services (AWS), in a collaboration aimed at accelerating AI capabilities among enterprise customers. The news of the multiyear deal sent Snowflake's shares soaring more than 35%. Here's what investors need to understand about the partnership. The agreement aims to help enterprise customers fully leverage AI for reasoning and workflows, thereby improving business results and productivity. Snowflake is pledging to spend $6 billion on AWS over five years. This investment dramatically increases Snowflake's use of Amazon's Graviton CPUs and Trainium GPUs. The commitment to spend this much money indicates strong demand for Snowflake, which fully expects to see a multiple on its investment. Snowflake's first quarter of 2026 was a solid one, with a 33% year-over-year increase in revenue and more than $9 billion in remaining performance obligations. Continue reading
Chinese mainland investors turned net sellers of Hong Kong stocks for the first time in nearly three years in May, underscoring waning confidence in the city’s market. They sold HK$3.6 billion ($459 million) of equities via the trading links with Hong Kong last month, according to Bloomberg-compiled data, the first monthly outflow since June 2023. Mainland investors have recorded monthly net sales...
Chinese mainland investors turned net sellers of Hong Kong stocks for the first time in nearly three years in May, underscoring waning confidence in the city’s market. They sold HK$3.6 billion ($459 million) of equities via the trading links with Hong Kong last month, according to Bloomberg-compiled data, the first monthly outflow since June 2023. Mainland investors have recorded monthly net sales only about a dozen times since the program was launched in late 2016. While small relative to the nearly HK$100 billion in average monthly inflows over the past two years, the May outflow marks a break from a years-long trend of mainland investors supporting Hong Kong stocks. The retreat comes as onshore shares gained momentum, with the tech-heavy STAR 50 Index surging nearly 40% since the start of April, while the Hang Seng gauge largely stagnated. Mainland funds have regularly stepped in to buy the dip in internet heavyweights like Tencent Holdings Ltd. as well as consumer and hardware stocks. They have also steadily increased exposure to dividend-paying state-owned enterprises. For much of this year, investors have increasingly treated Hong Kong as an avenue for tactical positioning rather than long-term allocation, with inflows skewed toward short-term trading in exchange-traded funds.
Greg Abel, CEO of Berkshire Hathaway, speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, NE on May 2, 2026. CNBC Berkshire Hathaway agreed Sunday to acquire homebuilder Taylor Morrison Home in a $6.8 billion deal, deepening the conglomerate's bet on the U.S. housing market after a prolonged downturn. The Omaha, Nebraska-based company will pay $72.50 per share in cash for Ta...
Greg Abel, CEO of Berkshire Hathaway, speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, NE on May 2, 2026. CNBC Berkshire Hathaway agreed Sunday to acquire homebuilder Taylor Morrison Home in a $6.8 billion deal, deepening the conglomerate's bet on the U.S. housing market after a prolonged downturn. The Omaha, Nebraska-based company will pay $72.50 per share in cash for Taylor Morrison, according to a statement . The offer represents a 24% premium to the homebuilder's closing price on May 29 and values the company at about $8.5 billion, including debt. The acquisition marks one of the first major strategic deals under Warren Buffett's successor Greg Abel, who took over as CEO at the start of 2026. The acquisition, expected to close in the second half of 2026, is relatively modest by Berkshire standards as it's sitting on a cash hoard nearing $400 billion. Stock Chart Icon Stock chart icon "Berkshire is acquiring a best-in-class national homebuilder, led by an exceptional team and backed by a trusted reputation for customer experience," Abel said in the statement. "Over time, we expect to unify our site-built homebuilding operations into a combined platform enabling us to deliver the dream of homeownership to more Americans." The deal suggests Berkshire is positioning for a recovery in U.S. housing demand despite elevated mortgage rates and affordability pressures that have weighed on the sector in recent years. "They are betting the housing cycle will turn and that there is pent-up demand," Bill Stone, Glenview Trust CIO and a Berkshire shareholder, told CNBC. The acquisition expands Berkshire's already sizable footprint in housing. The conglomerate owns manufactured-home giant Clayton Homes, a slew of building product companies as well as Berkshire Hathaway HomeServices, one of the largest residential real estate brokerage franchise networks in the U.S. Berkshire's last major deal came in October, when it reached a $9.7 billion cash deal to...