Costco shoppers stocked up on supplies in anticipation of the US port strike and Hurricane Helene.Costco says the "abnormal" activity had a measurable impact on monthly sales.The quick resolution to the port strike will likely minimize the disruption to the flow of imports. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in ...

Nvidia's stock surged 25% since September, nearing its all-time high.OpenAI's $6.6 billion funding last week preceded the stock's ascent.Two other key factors signal ongoing demand for AI computing. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By click ...

Core Insights - PayPal is launching an advertising business, starting in the US, leveraging its transaction data and large user base to attract advertisers [1][2][4] - The new service, PayPal Ads, will allow brands to run ads across PayPal, Venmo, and Honey, with plans to expand to over 30 million merchants next year [2][3][6] - The advertising market is shifting towards retail media, with significant ad dollars expected to be allocated to this space, providing high margins for sellers [5][6] Company Strategy - PayPal aims to address challenges in the retail media ad space by offering cross-merchant data, allowing marketers to streamline their advertising efforts [4][5] - The company plans to expand its advertising offerings to include video ads and self-service ad software, as well as entering new markets like the UK and Germany [7][8] - PayPal's advertising strategy is part of a broader initiative under CEO Alex Chriss to make the company more agile and competitive in the market [8] Market Context - The retail media space is projected to capture around $1 in every $7 of US ad dollars this year, highlighting its growing importance [5] - PayPal's 429 million active accounts provide a substantial audience, positioning it competitively against major retailers like Amazon and Walmart [6] - The entry into advertising comes as the market becomes increasingly crowded, with existing players like Mastercard and various data vendors already established [8][9]

Cash Balance and Growth - Amazon's cash balance is expected to reach almost $400 billion by 2027, significantly outpacing its Big Tech rivals [1][4] - By the end of 2024, Amazon is projected to have $127.4 billion in cash and short-term investments, tripling its 2018 amount and surpassing $100 billion for the first time [2] - Amazon's cash balance will exceed rivals Alphabet ($112.8 billion) and Microsoft ($108.1 billion) by 2024, and even Apple is expected to fall behind by next year [3] Drivers of Cash Growth - The increase in cash is driven by record profits from cloud computing, advertising, and improved efficiency, including cost-cutting measures [6] - Free cash flow is expected to nearly double from $36.8 billion in 2023 to $70.8 billion in 2025 [7] Shareholder Returns and Investment Priorities - Wall Street is questioning whether Amazon will return some of its cash to shareholders through buybacks or dividends, as other Big Tech companies have done [4][7] - Amazon approved a $10 billion stock repurchase plan in 2022 but has not added to it since [7] - Analysts believe the chances of an Amazon dividend are "pretty low" for the next 2 to 3 years, with a sustained share buyback program being more likely [7] - Amazon's CFO stated that the company's priorities are growth opportunities, long-term investments, and debt repayment, with no immediate plans for shareholder returns [9] AI and Future Investments - Amazon is heavily investing in artificial intelligence, competing with Microsoft, Alphabet, OpenAI, and Meta [10] - Capital expenditures are expected to increase in the second half of 2024, following $30.5 billion spent in the first half [10] - AWS's growth rate has rebounded, and competition with Microsoft is intensifying, which may lead investors to support continued funding for AI and cloud initiatives [10] Stock Performance and Investor Confidence - Amazon's stock has risen roughly 40% in the past year, outperforming the broader market [9] - CEO Andy Jassy's turnaround efforts have resulted in record profits and renewed investor confidence [9]

Matt Wood, VP of AI at Amazon Web Services, is leaving after 15 years.Wood's departure comes amid fierce AI competition from Microsoft, Google, and OpenAI.AWS has seen significant executive turnover, with its CEO and other top leaders leaving. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you' ...

Core Viewpoint - Nvidia's stock has surged significantly due to excitement surrounding its new Blackwell chip, leading to a substantial increase in market value and investor interest [1][2][4]. Group 1: Stock Performance - Nvidia's stock climbed 4% on Tuesday, extending its rally to 14% over the last five trading days [1][2]. - The company's market value increased by $400 billion to $3.26 trillion, making it more valuable than Microsoft and second only to Apple among public companies [2][3]. Group 2: Financial Metrics - Nvidia's market value increase of $400 billion is noteworthy, surpassing the entire market value of Costco, which is valued at $254 billion [3]. - Nvidia generated $61 billion in revenue last year with a net income of nearly $30 billion, highlighting its profitability compared to its market valuation [3]. Group 3: CEO and Leadership Impact - CEO Jensen Huang's net worth has surged from approximately $14 billion to $106 billion in under two years, making him the 11th richest person globally [4]. - Huang has described the new Blackwell chip as "the engine to power this new industrial revolution," indicating its strategic importance for the company [4][5]. Group 4: Market Demand and Future Prospects - There is immense demand for the Blackwell processors, which are designed for AI applications with lower costs and energy consumption compared to previous models [5]. - Nvidia plans to ramp up Blackwell production in the fourth quarter, with expectations to sell chips worth billions before the year ends [5].

Boeing and union leaders resumed negotiations on Monday but reached a stalemate by the end of Tuesday.IAM District 751 said Boeing was "hell-bent" on its second offer, which had now been withdrawn.A Bank of America analyst estimated the strike was costing Boeing $50 million a day. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite to ...

S&P Global Ratings may downgrade Boeing bonds due to cash issues amid a strike.The strike risks Boeing's recovery and affects 737 Max production — and the company's cash flow.Moody's also recently put Boeing on a downgrade review. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. ...

A judge has ordered Google to open up Android to rival third-party app stores.The ruling is part of Epic Games' blockbuster antitrust case against Google.Google said it plans to appeal the ruling and ask the courts to pause implementing remedies. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while y ...

Starboard Value has taken a $1 billion stake in drugmaker Pfizer.The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors.Starboard has doubled its assets over the past decade targeting companies across industries. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while ...