Pres. Trump signs order raising tariffs on steel & aluminum imports to 50%
CNBC's Eamon Javers joins 'Closing Bell Overtime' with a tariff update from the White House lawn.
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CNBC
35 minutes ago
- CNBC
Satellite imaging play Planet Labs pops more than 50% after posting earnings beat, record revenue
Shares of satellite imagery company Planet Labs soared more than 50% during Thursday's trading session on the back of its strong first-quarter earnings report. The company on Wednesday posted its first-ever quarter of positive free cash flow, coming in at $8.0 million. Planet Labs also exceeded quarterly estimates on top and bottom lines, reporting record revenue for the period. Planet Labs posted breakeven adjusted earnings and $66.3 million in revenue for the first quarter, while analysts polled by FactSet projected a loss of 4 cents per share on sales of $62.3 million. For the second quarter, Planet Labs expects sales to range between $65 million and $67 million. Analysts were expecting $65.2 million, per FactSet. "We had an excellent first quarter, exceeding our expectations, demonstrating solid validation of our strategic direction and great execution," Planet Labs CEO Will Marshall said in a press release. "Looking ahead, we're responding to strong demand signals by prioritizing the delivery of global insights at scale via AI-enabled solutions and rapidly expanding our satellite services offering." Shares of Planet Labs are up more than 50% year to date, given Thursday's jump, and have soared about 82% this quarter alone. The stock was last up by roughly 54% during midday trading. The company, which operates more than 200 satellites currently in orbit, earlier this year announced a $230 million contract with an anchor customer to further the rollout of its next-generation Pelican satellites. Marshall told CNBC in January that the contract was its "biggest deal ever and it's a significant step for us into this satellite services business."
CNBC
an hour ago
- CNBC
Palantir CEO Karp says AI is dangerous and 'either we win or China will win'
Palantir CEO Alex Karp said the artificial intelligence arms race between the U.S. and China will culminate in one country coming out on top. "My general bias on AI is it is dangerous," Karp told CNBC's "Squawk on the Street" on Thursday. "There are positive and negative consequences, and either we win or China will win." Karp has been a vocal advocate for U.S AI dominance. He told CNBC in January that the country needs to "run harder, run faster" in an "all-country effort" to develop more advanced AI models. In a recent letter to shareholders, he also touted Palantir's commitment to equipping and enhancing U.S. defense interests. The billionaire tech CEO said Thursday that the U.S. currently has a leg up in the AI race and Palantir is leading the way in making companies more secure and efficient with its tools. "There is no economy in the world with this kind of corporate leadership which is willing to pivot, which understands technologies, which is willing to look at new things, but also has deep domain expertise," he said. "Our allies in the West, in Europe, are going to have to learn from us." Shares of the Denver-based data analytics and AI software firm outperformed in 2024 and have continued their ascent in 2025 as investors bet on their software and work with key government contractors and agencies. The stock is up 74% this year, but investors have to shell out on a higher earnings multiple than its tech peers. "You don't like the price, exit," Karp said on Thursday in response. Karp also asserted that the company is "not surveilling Americans" in response to recent New York Times report that Palantir is helping the Trump administration gather data on Americans.
Yahoo
3 hours ago
- Yahoo
Broadcom (AVGO) Bull Says Semiconductor Stocks Will ‘Keep Seeing Immediate' AI Spending
Doug Clinton, Deepwater Asset Management co-founder and managing partner, said in a latest program on CNBC that the demand for AI services and applications is rising. Asked who the key beneficiaries of this trend are, the analyst said semiconductor companies continue to see the immediate positive impact of AI spending: 'The semis are going to keep seeing this more immediate spend.' According to CNBC, Broadcom Inc. (NASDAQ:AVGO) is one of Deepwater's top holdings. What's Broadcom's moat and how can the stock gain an upward momentum? It makes ASIC, chips designed for specific applications and tasks. As major companies look for custom chips to break Nvidia monopoly and lower costs, Broadcom is positioned well to thrive. Many top AI spenders are teaming up with Broadcom to develop these chips, which are expected to be high-margin, high-volume products, potentially driving substantial growth in both revenue and profits. Photo by Dimitris Chapsoulas on Unsplash Sands Capital Select Growth Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q1 2025 investor letter: 'Broadcom Inc. (NASDAQ:AVGO) is a key enabler of systems scalability and compute growth via ethernet networking and custom accelerators. We believe Broadcom will benefit from advancements in AI models in conjunction with increases in computing power, also known as scaling laws. Broadcom supports advances in computing power by providing high bandwidth, low-latency networking solutions. Its solutions help relieve bottlenecks in scaling computing power as an increasing number of semiconductor chips work in parallel for AI training and inference. We expect Broadcom's ethernet switches used for networking to be the primary driver of incremental growth as it benefits from both share increases and demand for larger server clusters that will require better networking solutions. Complementing its networking business, Broadcom is the largest provider of custom chip design services by revenue. These services enable businesses to take greater control of their technology stack, reduce reliance on third-party suppliers, and optimize costs and energy efficiency.'
