RACER's The Creative Drive podcast: Jim Liaw
We sit down with Jim Liaw, General Manager of Performance Racing Industry (PRI) and co-founder of Formula Drift. In this interview, Jim shares insights into his journey from establishing Formula Drift to leading PRI, discussing the marketing, evolution of motorsports and the industry's future. Don't miss this engaging conversation with a key figure in the racing world which took place at the PRI Show in Indianapolis in December of 2024.
Story originally appeared on Racer

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CNBC
2 days ago
- CNBC
Thawing of IPO market is good news for Goldman Sachs, car stocks catch a break
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market update: The major averages are off their highs of the day, but holding on to early morning gains made on the back of a stronger-than-expected May nonfarm payrolls report. As discussed during the meeting , we need to be conscious of the real risks out there — like a resurgence of inflation on the back of tariffs or a need for job cuts in the auto sector due to a lack rare earth metals needed to manufacture vehicles — but it's hard to get too negative on the overall market so long as the U.S. consumer remains employed. Ultimately, there is still a lot to like about the stock market for those ready and willing to the research and focus on the fundamentals. Shares of Lululemon are under significant pressure Friday after the apparel retailer reported a better-than-expected quarter but cut its outlook for the full year due to the "dynamic macroenvironment." The news is just the latest reminder that while the economy is holding in thanks to low unemployment, consumers still feel the pressure of high prices and may look to alter shopping activity. In this case, the news bodes well for shares of Club holding TJX Companies , which provides some of the best value around when it comes to apparel and home goods. Automaker stocks are getting some relief Friday following a report from Reuters that China granted temporary export licenses to suppliers of the big three U.S. automakers ( Ford , General Motors , and Stellantis ) for rare earth materials. More IPO news: Crypto exchange Gemini unveiled plans to go public in a new confidential filing with the Securities and Exchange Commission on Friday. This comes one day after stablecoin issuer Circle 's IPO, which saw the stock advance roughly 168%. Prior to that, CoreWeave started trading on the Nasdaq in late March in the biggest venture-backed tech IPO since 2021. Next week, fintech firm Chime will debut on the exchange as well. All of this action is a good indicator that more companies will go public, according to Jim Cramer. That's great news for Club holding Goldman Sachs' crucial investment banking business. The Wall Street bank derives revenues from facilitating these kinds of deals as an underwriter or through advisory fees. It also signals a potential rebound for a key division in Goldman. M & A and IPO activity has been lackluster in recent years as macroeconomic uncertainty and the regulatory environment has kept companies on the sidelines and more conservative with capital. "After we figure out tariffs, it's going to be mergers. It's very hard to do it right now, but I think Goldman Sachs is very attractive right here," Jim said Friday. Next week: We've got Apple's WWDC event kicking off Monday, where investors will look for any signs of progress with the company's AI strategy. We've also got Nvidia's GTC event in Paris starting on Tuesday. Tesla is expected to launch it's robotaxi service in Austin, Texas, in the back half of the week. On the economic front, we'll get an update on inflation with the May consumer price index out Wednesday. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.


CNBC
2 days ago
- CNBC
Cramer says Broadcom is a buy for new investors, Apple stock's less 'treacherous'
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. U.S. stocks surged Friday following better-than-expected labor data. Nonfarm payrolls rose 139,000 in May, above the Dow Jones estimate of 125,000. The S & P 500 jumped more than 1% in early trading as a result, reaching levels not seen since late February. It's great news, given U.S. corporations have been bracing against the impact of tariffs and the potential of a weakening economy. "Sometimes you get an employment number that really threads the needle," Jim said. The Friday rally follows a late Thursday session sell-off due to a public feud between President Donald Trump and Tesla CEO Elon Musk. The plunge in the EV maker's shares brought down the overall market. 2. Broadcom stock is down more than 2% Friday, a session after the chipmaker's quarterly earnings report. The second-quarter print was great and its AI business continues to impress us. Still, the stock is dealing with some profit-taking following a big move into the Thursday evening earnings release. New Investors should buy Broadcom at current levels, Jim said. That's because the long-term story for this stock is fantastic. 3. Apple's annual worldwide developer conference kicks off Monday. Investors will watch closely for updates regarding its generative artificial intelligence system, Apple Intelligence. This follows a rocky year-long rollout of its new AI features like an improved Siri, which Jim described as "a bust." The iPhone maker's dealing with a slew of other troubles as well. Although the software-focused event is typically not a material catalyst, it was in 2024 and this year may surprise us again. "What I like about this is that it can bounce," Jim said of Apple shares. "That makes it so it's not nearly as treacherous as I thought it'd be." 4. Stocks covered in Friday's rapid fire at the end of the video were: Lululemon, McDonald's , MP Materials, and Applied Materials . (Jim Cramer's Charitable Trust is long AVGO, AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.


CNBC
3 days ago
- CNBC
How cybersecurity standout CrowdStrike aims to capitalize on the AI agent gold rush
Cybersecurity powerhouse CrowdStrike sees big business in helping companies safeguard their AI agents, which by design have access to vast amounts of their sensitive data. These artificial intelligence applications with human-like reasoning and problem-solving abilities are quickly becoming all the rage in corporate America. They are being used in a variety of ways — from customer support to task automation. In fact, a new survey of IT leaders by data firm Cloudera showed that 96% of them said they plan to expand their use of AI agents in the next 12 months. During a "Mad Money" interview Wednesday, CrowdStrike CEO George Kurtz told Jim Cramer the growth of AI agents, or agentics, is a "massive opportunity" for the company. Kurtz described these autonomous agents as "superhumans" with access to tons of proprietary company information, including identities and business workflows. He added, "AI agents could be in the billions, and CrowdStrike will be at the forefront of being able to protect those." Within its portfolio, CrowdStrike has seen traction with Charlotte AI, which Kurtz refers to as the company's agentic security analyst. Morgan Stanley analysts agree with Kurtz, saying AI agents are creating an opportunity for CrowdStrike because they expand the "surface area of IT to be protected," requiring heightened visibility, control, and protection. To be sure, it's still early innings for AI agent adoption — and while companies are spending no small fortune to develop and implement the technology, the return on investment is still up for debate. Enterprise software giant Salesforce has been a leader in AI agents, with its Agentforce platform. But it has also been subject to Wall Street skepticism, with analysts and investors questioning whether CEO Marc Benioff has put too much emphasis on AI agents at the expense of the company's core business. Salesforce, which reported earnings on May 28, said that combined annual recurring revenue (ARR) for its Data Cloud and Agentforce topped $1 billion, up from the $900 million provided in February. On "Mad Money" that night, Benioff told Jim that Agentforce was now an "over $100 million ARR product." While $100 million is pretty good for a platform that's less than a year old, it is a drop in the bucket when considering Salesforce's revenue in its latest quarter alone was $9.82 billion. From the Club's perspective, we believe AI agents are a double-edged sword, helping automate workflows while simultaneously creating a greater need for CrowdStrike's best-in-class cybersecurity solutions. Kurtz's discussion with Jim came after the Club name Tuesday evening reported better-than-expected quarterly results on many of the key metrics that investors focus on. The stock, which closed Tuesday's regular session at a record high, lost nearly 6% Wednesday on concerns about mixed guidance and questions about a federal government inquiry into information related to last year's massive IT outage that was caused by a botched CrowdStrike software update. Kurtz defended the company in the probe. Last week, we increased our price target on CrowdStrike to $500 from $400 after the print. However, we maintained our hold-equivalent 2 rating out of respect for the stock's recent run and overall 34% increase year to date. (Jim Cramer's Charitable Trust is long CRWD, CRM. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.