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Home Depot beats Wall Street's expectations, even as sales decline
CNBC· 2026-02-24 11:04
Home Depot on Tuesday posted a roughly 4% quarterly sales decline, as a sluggish real estate market and selective spending by homeowners continued to weigh on home improvement demand.The company also stuck by the current fiscal year forecast that it shared in December at an investor day. It said it expects full-year total sales growth to range between about 2.5% and 4.5% and adjusted earnings per share to be between roughly flat and up 4% from $14.69 in the prior fiscal year. It expects full-year comparable ...
Intel partners with AI chip startup SambaNova after acquisition talks reportedly failed
CNBC· 2026-02-24 11:00
Core Insights - Intel is investing in SambaNova, an AI chipmaker, to compete with Nvidia in the AI chip market [1][2][4] - SambaNova has developed a new chip, the SN50, which claims to outperform Nvidia's GPUs while offering better value [8] Company Developments - SambaNova has entered a multiyear collaboration with Intel to adopt Intel server chips and graphics cards [2] - Intel is participating in a $350 million funding round for SambaNova, having initially invested in the company in 2019 [2] - The partnership aims to enhance sales and marketing efforts to increase adoption of SambaNova's products [5] Market Context - Nvidia has been the dominant player in the AI chip market, benefiting significantly from the AI boom initiated by the launch of ChatGPT in late 2022 [3] - Intel's revenue has been declining for four consecutive years, highlighting the need for strategic partnerships to regain market position [3][4] Product Insights - The SN50 chip from SambaNova is designed to connect up to 256 processors, providing higher performance than Nvidia's B200 systems [8] - SambaNova is also looking to expand its cloud services for running AI models and plans to sell clusters for data centers [9] Leadership and Strategy - Rodrigo Liang, co-founder and CEO of SambaNova, emphasizes the importance of careful planning in their collaboration with Intel [6] - Lip-Bu Tan, who has been involved with SambaNova since 2017, is also leading Intel's efforts in the AI space [7]
U.S. has breached trade deal and Europe is ready to retaliate, top trade lawmaker tells CNBC
CNBC· 2026-02-24 10:24
In this articleUAMYU.S. President Donald Trump looks on, during a meeting with European Commission President Ursula von der Leyen (not pictured), after an announcement of a trade deal between the U.S. and EU, in Turnberry, Scotland, Britain, July 27, 2025. Evelyn Hockstein | ReutersThe U.S. has breached the terms of its trade deal with the European Union and the bloc is ready to retaliate if necessary, a top EU trade lawmaker told CNBC."We wanted to have really stability and predictability. And unfortunatel ...
Tesla’s Europe problem keeps getting worse. Here's why
CNBC· 2026-02-24 09:56
Core Insights - Tesla's sales in Europe have declined for the 13th consecutive month, with new car registrations falling to 8,075 in January, a decrease of 17% year-over-year [2] - The company's market share in the European Union, Britain, Switzerland, Norway, and Iceland has dropped to 0.8%, down from 1% in January of the previous year [2] Group 1: Sales Performance - Tesla's sales in Europe have shown a persistent decline, marking a "very weak" start to the year according to industry experts [3] - The decline in sales is attributed to increased competition from affordable electric vehicles (EVs) from brands like BYD, MG, and ZEEKR, as well as a lack of new models from Tesla [3] Group 2: Market Dynamics - The focus on autonomous driving rather than expanding the vehicle lineup may be impacting Tesla's sales performance [4] - An influx of first-generation Teslas being remarketed after lease periods has led to a decrease in second-hand prices, contributing to the availability of competitively priced used Teslas in the market [4]
AI robots may outnumber workers in a few decades as firms ramp up investment
CNBC· 2026-02-24 08:21
Core Viewpoint - The adoption of AI robots is expected to surpass the working population within a few decades as companies prioritize profitability and technological advancements [1][2][3] Group 1: AI Adoption and Workforce Impact - Companies are increasingly adopting AI agents to reduce costs, leading to a significant rise in the number of AI robots [1][2] - The integration of profitability with technological progress is creating a major shift where AI will perform tasks more efficiently and at a lower cost, effectively substituting human workers [2] - Predictions indicate that within the next couple of decades, the number of moving robots will exceed the working population, further compounded by the introduction of smaller AI agents [3]
CNBC Daily Open: Unstable tariff situation and new AI disruption spark market sell-off
CNBC· 2026-02-24 07:27
Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, U.S., February 23, 2026.Investors lost their sense of security in the business of cybersecurity companies after Anthropic on Friday launched Claude Code Security, which it said can scan code for vulnerabilities and suggest solutions. Shares of CrowdStrike, Palo Alto Networks and Cloudflare slumped, but it was IBM that was hit the worst, plunging nearly 13.2%.European markets also had a day in th ...
European markets set for broadly positive open as traders assess tariff landscape
CNBC· 2026-02-24 06:59
This photograph shows European countries' flags waving in front of the European Parliament building in Strasbourg, eastern France, on June 6, 2024. (Photo by SEBASTIEN BOZON / AFP) (Photo by SEBASTIEN BOZON/AFP via Getty Images)LONDON — European stocks are expected to open flat to higher on Tuesday as investors assess the new global trading landscape after U.S. President Donald Trump's latest tariff move.The U.K.'s FTSE index is seen opening unchanged, Germany's DAX and France's CAC 40 up around 0.25%, resp ...
Four years into the Ukraine war, is Europe ready for its own army?
CNBC· 2026-02-24 05:58
Core Viewpoint - The article discusses the ongoing debate about the establishment of a common European army in response to security challenges posed by Russia and the need for better integration of European defense efforts [1][2][5]. Group 1: Current Defense Landscape - Europe has faced difficulties in uniting its defense efforts in light of Russia's invasion of Ukraine and tensions with the U.S. under President Trump [1]. - The idea of a common European army has been a topic of discussion since the post-Second World War era, with renewed interest in 2026 [1][4]. - A proposal for a standing military force of 100,000 troops has been suggested by the EU's Commissioner for defense and space, Andrius Kubilius, to enhance Europe's military capabilities [2]. Group 2: Opinions and Concerns - Spain's foreign minister emphasized the need for a unified defense industry, arguing that a joint effort would be more efficient than maintaining 27 separate national armies [2]. - Kaja Kallas, an EU leader, warned that creating a Europe-wide army could be "extremely dangerous" and questioned the practicality of such an initiative [2]. - Some leaders, like Finland's President Alexander Stubb, advocate for strengthening NATO's European pillar rather than pursuing an independent EU army [9]. Group 3: Public Sentiment and Polling - Recent surveys indicate a shift in public opinion towards supporting a common EU defense policy, with support rising from 76% in 2014 to 81% in 2025 [11]. - Polls show significant backing for a regional army, with 61% support in Lithuania, 59% in Germany, and 58% in Spain [12]. - Experts suggest that the current security concerns have made citizens more receptive to deeper European defense integration [15]. Group 4: Challenges and Recommendations - The lack of coordination among European militaries, which are primarily designed to work with the U.S., poses a challenge for effective defense collaboration [7]. - The European Commission has committed to enhancing the competitiveness of the defense industry and addressing inefficiencies through joint procurement initiatives, with a budget of €310 million (approximately $364.8 million) [8]. - Experts highlight the need for improved decision-making and command structures within European defense, as reliance on NATO structures continues [16].
Bitcoin extends decline, falling over 5% to below $64,000
CNBC· 2026-02-24 03:32
Core Viewpoint - Bitcoin experienced a decline of over 5%, dropping below $64,000, as investors reacted to escalating tariff tensions and broader geopolitical risks [1] Group 1: Market Reaction - The price of Bitcoin fell to a low of $63,396 amid investor pressure to shift away from risk assets [1] - The decline in Bitcoin is characterized as a "risk-sentiment reset" rather than a specific shock to the cryptocurrency market, according to an investment expert [1] Group 2: Investment Strategy - The recent plunge in Bitcoin is interpreted as a "tactical de-risking" approach by investors, indicating a temporary adjustment rather than a long-term exit from the market [2]
As Wall Street punishes software stocks over AI concerns, Canva gets more acquisitive
CNBC· 2026-02-24 03:01
Core Insights - Software stocks, including design software, have faced significant declines due to concerns over artificial intelligence impacts, with Adobe's stock down 30% this year [1] - Canva is actively acquiring startups to enhance its competitive position against Adobe, purchasing Cavalry and MangoAI to bolster its animation and video capabilities [2] Company Developments - Canva has acquired Cavalry, which specializes in two-dimensional animation software, and MangoAI, which focuses on short video creation for advertising [2] - The terms of the acquisitions were not disclosed, but both startups are expected to help Canva compete more effectively with Adobe [2] Product Integration - Canva plans to integrate Cavalry's animation technology into its core product and the Affinity application, which was made free after its acquisition in 2024 [4] - MangoAI will be incorporated into the Canva Grow advertisement generator, which is available at $250 per person per year, enhancing video performance tracking and recommendations [5] Market Position and Financials - Canva reported over $4 billion in annualized revenue for 2025, a 36% increase from the previous year, while Adobe's revenue for the November quarter was $6.2 billion, up 10% [7] - Canva's market valuation was noted at $42 billion in August, prior to the recent downturn in software stock prices [7] AI and User Experience - Canva's co-founder emphasized the importance of human input in content creation, stating that while AI can assist, the final touches that ensure brand representation are crucial [8] - The company has not experienced a slowdown in revenue or user growth, attributing improvements in product quality to the integration of AI [9]