Trade Tracker: Stephanie Link buys Uber and sells Home Depot
Stephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to detail her latest portfolio moves.
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OpenAI claims to have hit $10B in annual revenue
OpenAI says it recently hit $10 billion in annual recurring revenue, up from around $5.5 billion last year. That figure includes revenue from the company's consumer products, ChatGPT business products, and its API, an OpenAI spokesperson told CNBC. Currently, OpenAI is serving more than 500 million weekly active users and 3 million paying business customers. The revenue milestone comes roughly two and a half years after OpenAI launched its popular chatbot platform, ChatGPT. The company is targeting $125 billion in revenue by 2029. OpenAI is under some pressure to increase revenue quickly. The company burns billions of dollars each year hiring and recruiting talent to work on its AI products, and securing the necessary infrastructure to train and run AI systems. OpenAI has not disclosed its operating expenses or whether it is close to profitability. This article originally appeared on TechCrunch at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 hours ago
- CNBC
Here's where to find the best income opportunities right now, according to TCW CIO
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2 hours ago
- CNBC
Danny Moses of ‘The Big Short' breaks down why he likes the unloved energy sector now
Investor Danny Moses, who made a killing betting against mortgage-backed debt before the 2008 crash, revealed he's bullish on the unloved energy sector. The Moses Ventures founder pointed out that energy stocks' weighting in the S & P 500 benchmark is only 3% right now, compared to their historical average of 7%. "I don't see that going much lower... oil is a little bit disconnected from the value of these energy stocks," Moses said Monday on CNBC's " Power Lunch ." "These energy stocks, the last four to five years, have gone through transformational M & A. Their balance sheets are in much better shape. No one's going to tell them to drill baby drill when they don't want to. It makes much more economic sense to own these stocks." The S & P 500 energy sector has been underperforming the broader market with a 3% loss this year as crude prices declined amid OPEC+ supply increases and demand concerns. The U.S. West Texas Intermediate crude has dropped about 9% this year to roughly $65. Moses shot to fame thanks to Michael Lewis' book " The Big Short " and the subsequent Oscar-winning movie of the same name. The investor highlighted two energy stocks he likes right now — Exxon Mobil and Diamondback Energy . "ExxonMobil, to me, cheap name, relatively. Its growth rate ... pays a nice dividend, buys back stocks. Same with Diamondback," he said.
