Deutsche Bank upgrades this Chinese internet provider, calling it next big AI beneficiary

Deutsche Bank upgrades this Chinese internet provider, calling it next big AI beneficiary

Deutsche Bank expects artificial intelligence to lift shares of Baidu higher. The bank upgraded the Chinese internet provider to a buy rating from hold. Analyst Leo Chiang also hiked his target price to $156 from $88, signaling upside of 23%. Chiang pointed to artificial intelligence driving the next phase of growth at Baidu. “Baidu has…

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Two ‘Big Short’ traders share their favorite bets amid AI disruption

Two ‘Big Short’ traders share their favorite bets amid AI disruption

“Big Short” traders Danny Moses and Vincent Daniel, who are known for successfully betting against the housing market in 2008, are finding opportunities even as artificial intelligence fears stir up market volatility. Both appeared on CNBC’s “Fast Money” Tuesday night to discuss their latest high conviction trades at a time when AI seems to be…

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‘Palooza in Cryptoland:’ Bitwise predicts ETF surge as bitcoin falls

‘Palooza in Cryptoland:’ Bitwise predicts ETF surge as bitcoin falls

The government reopening may spark a fresh historic run for recently battered cryptocurrencies. Bitwise’s Matt Hougan expects legislation to support new investment products in the space. “It’s going to be ETF Palooza in Cryptoland. I think there’ll be 100 plus launches,” the firm’s chief investment officer told CNBC’s “ETF Edge” on Monday. “We’re going to…

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Fugees rapper sentenced to prison over illegal donations to Obama campaign

Fugees rapper sentenced to prison over illegal donations to Obama campaign

WASHINGTON — Grammy-winning rapper Prakazrel “Pras” Michel of the Fugees was sentenced on Thursday to 14 years in prison for a case in which he was convicted of illegally funneling millions of dollars in foreign contributions to former President Barack Obama’s 2012 reelection campaign. Michel, 52, declined to address the court before U.S. District Judge…

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