Concerns of an AI bubble may be mounting, but at the Goldman Sachs Financial Services Conference on Wednesday, the biggest private investors were bullish on their own investments. Blackstone President Jon Gray said it was the firm's biggest moneymaker. Ares CEO Michael Arougheti said that the firm's international data center investments are accelerating ahead of expectations and boosting revenue expectations. Blue Owl co-CEO Doug Ostrover said the firm is "incredibly bullish" on its own data center investm ...

Disney CEO Bob Iger says his company's major licensing deal with OpenAI is all about establishing a foothold in a new realm of entertainment and engaging younger audiences. The licensing agreement gives ChatGPT and OpenAI's Sora video platform access to Disney characters like Mickey Mouse and Darth Vader. Disney is also investing $1 billion in the AI company and becoming a "major customer."Speaking on CNBC about the deal with OpenAI's Sam Altman on Thursday, Iger said it gives Disney a chance to get in on ...

Oracle just raised a fresh red flag for investors worried that tech companies are getting ahead of themselves when it comes it their massive capex spending. Oracle stock plunged 14% on Thursday after the tech giant reported an earnings beat but delivered revenue that was below Wall Street estimates, posting $16.06 billion compared to $16.21 billion expected by analysts. Cloud sales rose 34% from the previous quarter but also fell short of estimates.Importantly, Oracle also pledged to spend about $15 billio ...

Darth Vader is coming to ChatGPT and OpenAI's Sora AI video app. The House of Mouse and OpenAI struck a three-year licensing agreement on Thursday to make Disney "the first major content licensing partner on Sora."It's also investing $1 billion into the AI pioneer. "As part of this new, three-year licensing agreement, Sora will be able to generate short, user-prompted social videos that can be viewed and shared by fans, drawing from a set of more than 200 animated, masked and creature characters from Disn ...

Core Insights - Todd Combs, who was hired by Warren Buffett in 2010 to help manage Berkshire Hathaway's investment portfolio, has left to join JPMorgan, coinciding with Buffett's impending retirement as CEO after 60 years [1][9]. Group 1: Combs' Contributions and Departure - Combs was praised by Buffett for his integrity and contributions to Berkshire, including a significant role in the acquisition of Precision Castparts for over $30 billion [5]. - His leadership at Geico led to a successful turnaround, which Buffett acknowledged in his recent letter, highlighting Combs' hard work and the "spectacular improvement" at the company [6]. - The announcement of Combs' departure was formal, with Buffett referring to him in a more distant manner compared to other colleagues, indicating possible dissatisfaction with the exit [8][9]. Group 2: Implications of Combs' Exit - Combs' departure raises questions about his diminishing role in managing Berkshire's portfolio, as he had taken on various responsibilities outside of direct investment management [11]. - There are suggestions that Combs may have aspired to a larger role in managing the portfolio, which was unlikely given Buffett's recent comments about Abel taking over capital allocation responsibilities [12][13]. - The transition to JPMorgan may reflect Combs' desire for new opportunities, especially as he resigned from his position on JPMorgan's board prior to starting his new role [10].

Core Insights - Walmart continues to avoid NFC-based payment options like Apple Pay and Google Pay, despite the growing trend among other retailers to adopt such technologies [1][2] - The company promotes its own payment solutions, such as the Walmart Pay app and the Scan and Go feature, which allow customers to bypass traditional checkout methods [2][4] - Younger consumers increasingly expect digital payment options, leading to frustration when retailers do not offer them [3] Payment Strategy - Walmart's avoidance of NFC payments aligns with its broader retail strategy, as upgrading to NFC-compatible hardware incurs costs that can be significant given the number of stores and terminals [4] - The company focuses on providing its own contactless payment alternatives through its apps, which it believes are sufficient for customer needs [5] - Walmart's preference for its own payment tools allows it to gather valuable customer data, enhancing its understanding of shopping habits [6] Competitive Landscape - Other major retailers, including Amazon, Target, and Costco, also utilize their own apps and membership programs to collect customer data [7] - While Walmart may reconsider its stance on NFC payments in the future, it currently benefits from its unique approach in the retail market [7]

There are some ominous signals out there that suggest we're in the late stages of the economic cycle, but Morgan Stanley says investors should tune out the noise and brace for more growth ahead. ADP private payrolls were negative in November. Challenger data shows layoffs at the highest levels in two decades. The unemployment rate is on the rise.But as Morgan Stanley's equity research department sees things, the worst is already behind us. Andrew Pauker, a US equity strategist at the bank, laid out four r ...

Core Insights - Amazon is developing a "rush" pickup service to allow shoppers to collect orders from Amazon-owned stores within an hour, aiming to enhance delivery speed and convenience [1][3][10] Group 1: Service Development - The new "rush" pickup service will enable a "unified" order system, allowing customers to order from both Amazon's online marketplace and items in physical stores [2] - The pilot launch of this service is planned for at least one metro area by the first quarter of 2026, although the timeline may be subject to change [3] Group 2: Market Context - In-store pickup, or "click-and-collect," is experiencing significant growth, with total US sales projected to reach $112.96 billion in 2024, a 17% increase from 2023, and expected to grow to $129.33 billion by 2027 [8] - Approximately 152.9 million Americans, or 68% of digital buyers, are projected to use click-and-collect services by 2025 [8] Group 3: Competitive Landscape - Amazon leads in e-commerce sales, but Walmart has a competitive edge in delivery speed, reaching about 95% of American households within three hours due to its extensive store network [9] - Walmart is also a leader in click-and-collect services, with projected sales of $38.50 billion in 2024 [9] Group 4: Strategic Goals - The "rush" pickup service aims to meet customer demand for faster access to a wider product selection while optimizing Amazon's physical store network and logistics [10] - The initiative is part of Amazon's broader strategy to validate customer demand for rapid pickup and effectively integrate physical and digital offerings [10]

Core Viewpoint - The media industry is experiencing intense competition, particularly between Warner Bros. Discovery (WBD), Netflix, and Paramount, with Paramount making a hostile bid for WBD after Netflix's acquisition announcement for $72 billion [1][2]. Group 1: Paramount's Bid and Strategy - Paramount Skydance's CEO, David Ellison, urged WBD shareholders to support Paramount's bid, emphasizing the potential benefits of acting quickly [1]. - Following WBD's rejection of Paramount's offers, Paramount launched a hostile bid at $30 per share, criticizing WBD's advisors for not adequately considering their proposal [2][3]. - Ellison accused WBD of not engaging in meaningful negotiations, claiming that WBD ignored communications from Paramount regarding their offer [3]. Group 2: Financial Backing and Market Implications - The hostile bid from Paramount is partially financed by wealth funds from Saudi Arabia, Qatar, and Abu Dhabi, indicating significant financial backing [5]. - President Donald Trump commented on the situation, suggesting that the combined market share of Netflix and WBD could pose regulatory challenges [5].

Talk about the rich getting richer. Alphabet, parent company of Google, has been one of the best-performing stocks of the year, up nearly 70%, and now has a market capitalization of $3.8 trillion.The company also happened to make what could turn out to be one of the most lucrative startup investments of all time, which could finally bear fruit next year. In 2015, Google invested around $900 million in SpaceX for a stake of around 7% in Elon Musk's space company, which was then valued at $12 billion.Now Sp ...