He also said that Chinese open-source AI models, which are cheaper and seem to be growing market share, could pose a revenue threat.<\/p>\n
Read more about Steve Eisman and the AI boom from CNBC’s Yun Li here<\/a>.<\/p>\n \u2014 Darla Mercado<\/p>\n Thu, Aug 13 20262:49 PM EDT<\/p>\n Workday in talks to be acquired by a private equity firm, Reuters says<\/p>\n Software company Workday<\/a> is in talks to be acquired by private equity firm Silver Lake, Reuters reported<\/a> on Thursday. <\/p>\n Shares were halted in response after the sock jumped on the news. The stock was last up almost 26%. <\/p>\n Citing people familiar with the matter, Reuters said Silver Lake and Workday have held discussions about a takeover in recent months, but the talks are ongoing and a deal may not come to fruition, the people added. <\/p>\n Before the jump in midday trading Thursday, Workday was off 18% in 2026. The stock is now positive for the year after the surge. <\/p>\n Stock Chart IconStock chart icon Workday 1-day. <\/p>\n Thu, Aug 13 20262:11 PM EDT<\/p>\n Iran to join BRICS New Development Bank as war stretches out to nearly six months<\/p>\n A man walks in front of a wall mural as daily life continues amid ongoing tensions between the United States in Tehran, Iran, on August 6, 2026. <\/p>\n Fatemeh Bahrami | Anadolu | Getty Images<\/p>\n Iran announced it will join BRIC New Development Bank<\/a> on Thursday, as it enters a nearly six month war with the U.S. and Israel.\u00a0<\/p>\n The BRIC group was founded by Brazil, Russia and India in 2006 with South Africa, Egypt, Ethiopia, Saudi Arabia, among other nations joining since.\u00a0<\/p>\n “We are seeking to establish bilateral and trilateral monetary cooperation with member states,” said Abdolnasser Hemmati, governor of the Central Bank of Iran, according to Tasnim’s report.<\/p>\n \u2014 Ananya Chetia<\/p>\n Thu, Aug 13 20261:07 PM EDT<\/p>\n Stocks making big moves: Netflix, Super Micro Computer, Cisco Systems<\/p>\n Here are some of the companies making headlines in midday trading:<\/p>\n Read the full list here<\/a>.<\/p>\n \u2014 Michelle Fox<\/p>\n Thu, Aug 13 202612:15 PM EDT<\/p>\n UBS hikes outlook on Brinker thanks to momentum at Chili\u2019s <\/p>\n Shares of Brinker International<\/a>, the casual dining operator, are getting a boost thanks to its subsidiary Chili’s, according to UBS.\u00a0<\/p>\n The bank reiterated its buy rating on the stock and hiked its price target to $285 from $260. That implies an almost 16% gain from Wednesday’s close. Shares jumped more than 11% on Wednesday after the company delivered its latest earnings report, which analyst Dennis Geiger said showed solid growth at the company.<\/p>\n “We’re encouraged by Chili’s sales momentum into F1Q, with QTD sss meaningfully<\/p>\n accelerating from F4Q levels (5.6%) and strength sustaining from July into early August,” Geiger wrote in a Thursday note, singling out Chili’s. Driving the subsidiary’s growth is strong value, menu upgrades, effective marketing and operational improvements.\u00a0<\/p>\n Geiger added he continues to like shares of Brinker as he believes execution of strategic plans can lead to further outperformances and earnings upside potential.<\/p>\n \u2014 Davis Giangiulio<\/p>\n Thu, Aug 13 202611:44 AM EDT<\/p>\n Netflix pops after Bill Ackman discloses a new stake<\/p>\n Bill Ackman, chief executive officer of Pershing Square Capital Management LP, at an interview during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, April 29, 2026.<\/p>\n Michael Nagle | Bloomberg | Getty Images<\/p>\n Shares of Netflix<\/a> rose more than 3% after Bill Ackman’s Pershing Square Capital Management said it has taken a new position in the streaming giant.<\/p>\n Stock Chart IconStock chart icon Netflix in the past day<\/p>\n Pershing Square previously had a stake in Netflix in early 2022, but the firm exited the position about three months later after the company reported its first subscriber decline in more than 10 years.<\/p>\n \u2014Yun Li and Darla Mercado<\/p>\n Thu, Aug 13 202611:20 AM EDT<\/p>\n Coffee outpacing the AI trade of late<\/p>\n Roasted Coffee beans are placed in a coffee cooling tray at Starbucks Reserve Roastery New York on March 31, 2026 in New York City. <\/p>\n Michael M. Santiago | Getty Images<\/p>\n Coffee futures are up 13% over the past three months, beating the VanEck Semiconductor ETF (SMH)<\/a> \u2014 one of the big beneficiaries of AI \u2014 which is up just 2.2% through Wednesday’s close. The Roundhill Memory ETF (DRAM)<\/a> is little changed over the same time. Coffee has even outpaced the broader market by a factor of three, with the S&P 500 advancing 4.1% since mid-May.<\/p>\n Stock Chart IconStock chart icon Coffee futures 3-mo chart<\/p>\n Read more here<\/a>.<\/p>\n \u2014 Fred Imbert<\/p>\n Thu, Aug 13 202610:28 AM EDT<\/p>\n Russell 2000 hits all time high<\/p>\n The Russell 2000,<\/a> which focuses on small-cap stocks, just hit a record-breaking high of 3,067 on Thursday. <\/p>\n It’s up over 23% year to date and up over 2% in the last month.\u00a0<\/p>\n Stock Chart IconStock chart icon Russell 2000, year-to-date<\/p>\n Thu, Aug 13 20269:49 AM EDT<\/p>\n Cleveland Fed President Beth Hammack says the central bank should raise rates immediately<\/p>\n Federal Reserve Bank of Cleveland president and CEO, Beth Hammack speaking with CNBC from Sintra, Portugal on June 30th, 2026. <\/p>\n CNBC<\/p>\n Cleveland Federal Reserve Bank President Beth Hammack on Thursday doubled down on her view that the central bank should raise rates immediately to bring down inflation. <\/p>\n “It’s really critical we act now to bring inflation back to the target level,” Hammack said at the Dayton Area Chamber of Commerce. “The longer is stays above the target, the harder is to bring back down. The more that is felt by businesses and individuals.”<\/p>\n Hammack \u2014 who was one of three dissenters at the June meeting who voted to raise rates \u2014 has previously said that she expects multiple increases likely will be needed<\/a>.<\/p>\n \u2014 Sarah Min <\/p>\n Thu, Aug 13 20269:34 AM EDT<\/p>\n Stocks open higher<\/p>\n U.S. equities rose on Thursday morning.<\/p>\n The S&P 500 gained 0.2% just after 9:30 a.m. ET, while the Nasdaq Composite advanced 0.1%. The Dow Jones Industrial Average climbed 119 points, or 0.3%.<\/p>\n \u2014 Sean Conlon<\/p>\n Thu, Aug 13 20269:11 AM EDT<\/p>\n ‘Fed is likely to keep rates steady through year-end,’ investor says<\/p>\n Kevin Warsh, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, July 29, 2026.<\/p>\n Al Drago | Bloomberg | Getty Images<\/p>\n While the latest producer price index reading<\/a> may be a sign that inflation is stabilizing, more developments will have to occur for the Federal Reserve to move on interest rates, according to Glen Smith of GDS Wealth Management<\/p>\n “Thursday’s PPI alone doesn’t change the calculus of the Federal Reserve, as the key to taming the inflation picture right now is a resolution in the Middle East or the establishment of pipelines to rely less on the Strait of Hormuz and the Fed has no influence on that,” the chief investment officer said.<\/p>\n “For now, the Fed is likely to keep rates steady through year-end,” he continued.<\/p>\n \u2014 Sean Conlon<\/p>\n Thu, Aug 13 20268:36 AM EDT<\/p>\n PPI comes in flat for July<\/p>\n The producer price index, which measures what wholesalers pay for raw goods and materials, was flat month over month in July<\/a>. Economists polled by Dow Jones expected an increase of 0.2%. <\/p>\n \u2014 Fred Imbert<\/p>\n Thu, Aug 13 20268:15 AM EDT<\/p>\n Goldman flags margin guidance concerns for Cisco<\/p>\n A Cisco sign is seen in front of a building at Cisco headquarters in San Jose, California, on Aug. 13, 2025.<\/p>\n Justin Sullivan | Getty Images<\/p>\n Networking hardware company Cisco<\/a> delivered a beat on expectations<\/a> for revenue and earnings-per-share in the fourth quarter, but its guidance on margins is a concern for the Street.<\/p>\n The company’s first-quarter fiscal 2027 gross margin guidance of 65% to 66% is below the consensus estimate of 66.4%, analysts with Goldman Sachs noted on Wednesday.<\/p>\n “We expect CSCO to trade mixed as the stronger FY27 guide is offset by gross margin concerns,” Michael Ng at Goldman wrote in a note to clients.<\/p>\n \u2014 Tobias Burns<\/p>\n Thu, Aug 13 20267:54 AM EDT<\/p>\n Tapestry, Yeti and Birkenstock among the stocks making moves before the bell<\/p>\n Yeti coolers are displayed at an REI store on May 09, 2024 in Berkeley, California.\u00a0<\/p>\n Justin Sullivan | Getty Images<\/p>\n Check out the companies making the biggest moves in premarket trading:<\/p>\n Read the full list here<\/a>.<\/p>\n \u2014 Michelle Fox<\/p>\n Thu, Aug 13 20265:02 AM EDT<\/p>\n Treasury yields inch lower<\/p>\n Traders work on the floor of the New York Stock Exchange. <\/p>\n NYSE<\/p>\n Treasury yields<\/a> edged lower as traders parsed inflation data for July that\u00a0matched expectations<\/a>\u00a0and showed price increases may have continued to cool.<\/p>\n The yield on the\u00a010-year U.S. Treasury<\/a>\u00a0note \u2014 the key benchmark for pricing mortgages, auto loans and credit card debt \u2014 was 1 basis point lower at 4.6704%.<\/p>\n The\u00a02-year Treasury note<\/a>\u00a0yield, which more closely tracks expectations for Federal Reserve interest rate policy, was off more than 2 basis points at 4.1738%. The longer-dated\u00a030-year Treasury bond<\/a>\u00a0yield held steady at 5.2371%.<\/p>\n Thu, Aug 13 20264:48 AM EDT<\/p>\n Maersk shares jump 7% after shipping giant smashes profit estimates and hikes outlook<\/p>\n Shipping containers are offloaded from a cargo ship at PortMiami on April 15, 2025 in Miami.<\/p>\n Joe Raedle | Getty Images<\/p>\n Danish shipping giant\u00a0Maersk<\/a>\u00a0on Thursday hiked its 2026 earnings guidance for the second time this year, as global trade movements remain stymied by the Strait of Hormuz blockade.<\/p>\n Shares of the company surged 7% shortly after the opening bell.<\/p>\n Maersk, widely regarded as a barometer of global trade, reported preliminary underlying earnings before interest, tax, depreciation and amortization (EBITDA) of $3 billion for April to June. That’s well above the $2.04 billion expected by analysts in an LSEG-compiled consensus.<\/p>\n Shipping giants warn ports and trucks could hold up deliveries and push up prices<\/a><\/p>\n Thu, Aug 13 20263:11 AM EDT<\/p>\n European markets open Thursday’s session in the green<\/p>\n The pan-European Stoxx 600<\/a> was up 0.15% shortly after 8:10 a.m. in London (3:10 a.m. E.T.), as most regional sectors moved higher and the continent’s main bourses notched early gains.<\/p>\n European banks were up 0.8%, with travel and leisure, household goods and retail all advancing more than 0.4%.<\/p>\n Meanwhile, Germany’s DAX<\/a> was up 0.39%, the Italian FTSE MIB<\/a> added 0.37%, and the French CAC 40<\/a> gained 0.23%. \u00a0But the U.K.’s FTSE 100<\/a> retreated in early trade, moving 0.11% lower.<\/p>\n Thu, Aug 13 20263:19 AM EDT<\/p>\n Kospi soars as Asia-Pacific markets end mixed<\/p>\n Asia-Pacific markets ended mixed Thursday. Kospi<\/a> rose 3.6% to end at 6,813.34, while the small-cap Kosdaq index added 0.29% to close at 861.37.<\/p>\n Japan’s Nikkei 225 added 1.16% to 68,308.59, while the Topix ended 0.89% higher at 4,176.04<\/p>\n Australia’s benchmark\u00a0S&P\/ASX 200<\/a> lost 0.23% to 9,188.5.<\/p>\n Mainland China’s CSI 300 declined 0.57% to 4,663.95. <\/p>\n Hong Kong’s Hang Seng Index<\/a> was down 0.38% as of its final hour of trade.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Thu, Aug 13 20263:17 AM EDT<\/p>\n Anthropic investors eye record $2 trillion IPO: FT<\/p>\n The Financial Times reported<\/a> Wednesday morning that Anthropic investors expect the company’s valuation to exceed $2 trillion when it makes its stock market debut. <\/p>\n Anthropic could go public<\/a> as soon as October, with its investors targeting a record valuation of $2 trillion, according to the Financial Times. <\/p>\n The AI start-up is reportedly targeting a listing this year, but has not officially set a date for an IPO. <\/p>\n Citing half a dozen investors in the company, the FT said Anthropic’s surging revenues meant it would be able to more than double its current valuation by the autumn. <\/p>\n A $2 trillion float would give the company the largest IPO in history, surpassing SpaceX<\/a>, which went public at a valuation<\/a> of \u00a31.77 trillion in June. SpaceX shares have since seen volatile trading, dropping substantially after a post-IPO rally and closing<\/a> above their IPO price for the first time in weeks on Monday. <\/p>\n \u2014 Chloe Taylor<\/p>\n Thu, Aug 13 20262:41 AM EDT<\/p>\n U.K. economy grew 0.4% in second quarter with surprise jump in business investment <\/p>\n Alexander Spatari | Moment | Getty Images<\/p>\n Business investment in the U.K. jumped 1.7% in the second quarter, beating the 0.5% drop expected by Reuters, as GDP rose in the three months to the end of June.<\/p>\n Real GDP increased 0.4% in the second quarter, down from 0.6% in the previous quarter, but in line with expectations, the U.K.’s Office for National Statistics said Thursday. Monthly GDP was up 0.3%, following no growth in May.<\/p>\n Within gross fixed capital formation \u2014 which tracks national investment in productive assets \u2014 the surprise 1.7% jump in business investment was fueled by IT, communications, machinery and other hardware investment, the ONS said.<\/p>\n Business investment is now estimated to be 0.8% higher than the same quarter a year ago.<\/p>\n Economists and strategists said second-quarter strength was driven largely by temporary factors, including unusually warm weather and the FIFA World Cup.<\/p>\n Suren Thiru, chief economist at the Institute of Chartered Accountants in England and Wales, warned of a “painful deceleration” in the third quarter, adding that softer economic activity means the chances of a Bank of England rate hike in September remain “slim.”<\/p>\n “Overall, economic activity in the first half of the year has proven more resilient than many expected,” said David Smith, portfolio manager at Henderson High Income. “However, history suggests some caution is warranted, as growth has tended to lose momentum in the second half of the year amid uncertainty ahead of the Budget.”<\/p>\n \u2014 Hugh Leask<\/p>\n Thu, Aug 13 20261:45 AM EDT<\/p>\n European markets expected to open Thursday’s session in the green<\/p>\n The sun rises over Paris with a view of the Eiffel Tower as seen from Saint-Cloud, France on August 25, 2025.<\/p>\n Anadolu | Anadolu | Getty Images<\/p>\n Stoxx 50<\/a> futures were 0.39% higher ahead of the Thursday’s opening bell, with the continent’s main bourses expected to start the session in the green. <\/p>\n The French CAC 40<\/a> led the way, up 0.34% ahead of the market open, with Germany’s DAX<\/a> set to start the day up 0.28%. The Italian FTSE MIB<\/a> was expected to open up 0.33%, and the U.K.’s FTSE 100<\/a> seen opening 0.29% higher.<\/p>\n \u2014 Hugh Leask<\/p>\n Thu, Aug 13 20261:10 AM EDT<\/p>\n Asian chip stocks climb as AI enthusiasm returns<\/p>\n Asian semiconductor stocks rallied Thursday, extending a rebound in the region’s technology sector as easing concerns over U.S. rate hikes and renewed optimism around artificial intelligence spending lifted sentiment.<\/p>\n In South Korea, memory-chip heavyweight SK Hynix jumped more than 7%, while Samsung Electronics gained about 5.7%. Other semiconductor-related names also advanced, with LG Innotek up 4.3% and Seoul Semiconductor gaining 1.8%. The moves build on a sharp recovery in Korean chipmakers after a bruising sell-off in recent weeks.<\/p>\n Japanese semiconductor stocks also climbed. Chip-testing equipment maker Advantest<\/a> rose 4.9%, while Tokyo Electron<\/a> gained about 3.2%. Disco<\/a> surged more than 6%, Lasertec<\/a> added about 5.1% while Kioxia<\/a> jumped over 7%.<\/p>\n Taiwan’s TSMC<\/a> edged up 0.62%.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Wed, Aug 12 202611:37 PM EDT<\/p>\n Samsonite shares jump 7% after luggage maker agrees to acquire B\u00c9IS<\/p>\n Shares of Samsonite Group<\/a> gained 7.2% on Thursday after the luggage maker announced it had agreed<\/a> to acquire an 85% stake in B\u00c9IS, a U.S.-based lifestyle and travel brand, for $178.5 million.<\/p>\n Founded in 2018, B\u00c9IS targets younger, predominantly female consumers and has expanded into lifestyle bag categories. The brand generated roughly $210 million in net sales in 2025.<\/p>\n Samsonite’s latest acquisition comes as the Hong Kong-listed luggage maker prepares<\/a> for a U.S. dual listing. <\/p>\n \u2014 Jenny Lee<\/p>\n Wed, Aug 12 202610:59 PM EDT<\/p>\n Oil rises on worries over supply disruptions as spill near Oman worsens<\/p>\n Oil rose Thursday as recent deadly attacks<\/a> on vessels in the Gulf of Oman and the Red Sea keep markets jittery, while a spill near Oman continues to spread. <\/p>\n Futures for international benchmark Brent crude<\/a> for October delivery gained 1.01% to $88.09 a barrel. U.S.\u00a0West Texas Intermediate\u00a0futures<\/a>\u00a0for September advanced 1.15% to $82.31 per barrel.<\/p>\n Stock Chart IconStock chart icon Brent <\/p>\n Oman’s coastline has reportedly<\/a> started being affected by a massive oil spill caused by a leaking tanker that ran aground June 30 carrying an estimated 800,000 barrels of Russian oil and is under international sanctions, according to Reuters<\/a>. It’s leaking near a nature reserve that’s home to wildlife including Arabian Sea humpback whales and \u200bSocotra cormorants, Reuters reported.<\/p>\n \u2014 Justina Lee<\/p>\n Wed, Aug 12 202610:30 PM EDT<\/p>\n Tencent, Foxconn shares fall after second-quarter results <\/p>\n Jonathan Raa | Nurphoto | Getty Images<\/p>\n Shares of Tencent Holdings<\/a> fell 3%, while Foxconn<\/a> dropped 2.8% following the release of their second-quarter results Wednesday.<\/p>\n Tencent’s revenue rose<\/a> 11% from a year earlier to 204.78 billion Chinese yuan ($30.36 billion), while net profit attributable to shareholders edged up 0.7% to 56 billion yuan.<\/p>\n Foxconn reported<\/a> a 41% jump in second-quarter revenue to $2.53 trillion New Taiwan dollars, while operating profit rose 68% to NT$94.8 billion. <\/p>\n \u2014 Jenny Lee <\/p>\n Wed, Aug 12 20269:34 PM EDT<\/p>\n South Korea stocks enter bull market as AI trade roars back<\/p>\n South Korean stocks rallied Thursday, lifting the benchmark Kospi into a technical bull market as a global revival in the AI trade fuels a sharp recovery after last month’s historic sell-off.<\/p>\n The Kospi jumped over 4% in early trade, taking its rebound from its July 30 low to roughly 23%, data from LSEG showed.<\/p>\n Index heavyweights Samsung Electronics and SK Hynix led the gains, with the chip giants rising over 4% and 7%, respectively.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Wed, Aug 12 20268:12 PM EDT<\/p>\n South Korea\u2019s Kospi rises over 4%, Japan’s Nikkei 225 gains more than 1%<\/p>\n Asia-Pacific markets opened largely in the green on Thursday. South Korea’s Kospi<\/a> rose 4%, while the small-cap Kosdaq added 0.92%.<\/p>\n Japan’s Nikkei 225<\/a> added 1.5%, and the Topix advanced 0.99%.<\/p>\n Australia’s benchmark\u00a0S&P\/ASX 200<\/a> was down 0.12%.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Wed, Aug 12 20267:40 PM EDT<\/p>\n Japan’s Nikkei 225 is set to open higher with focus on producer inflation data<\/p>\n Japan stocks were set to open higher, with focus on the country’s wholesale inflation data.<\/p>\n Japan’s\u00a0Nikkei 225<\/a> Chicago futures contract was trading at 68,585 and its Osaka counterpart was last at 68,550 compared with the index’s previous close of 67,524.06.<\/p>\n Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0futures last traded at 25,320, below the benchmark’s close of 25,440.17.<\/p>\n Futures for Australia’s S&P\/ASX 200<\/a> last traded at 9,128, compared with the index’s Wednesday close of 9,209.4. <\/p>\n Investors also await U.S. wholesale inflation data after consumer inflation came in line with estimates.<\/p>\n The July reading of the U.S. producer price index, which gauges what wholesalers pay for raw goods and materials, is set for release Thursday at 8:30 a.m. ET. Economists polled by Dow Jones expect an increase of 0.2% from the prior month.<\/p>\n \u2014 Lee Ying Shan<\/p>\n Wed, Aug 12 20266:19 PM EDT<\/p>\n Cerebras, Coherent among the stocks making big moves after the bell<\/p>\n Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks after the company’s initial public offering at the Nasdaq MarketSite in New York on May 14, 2026.<\/p>\n Michael Nagle | Bloomberg | Getty Images<\/p>\n Check out the companies making the biggest moves after the bell:<\/p>\n![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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