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Gurley's VC firm Benchmark was an early Uber investor, and he helped oust then-CEO Travis Kalanick in 2017. View More

watch nowVIDEO4:3304:33There's never been a time where you can learn as fast as you can right now: Bill Gurley on AIMoney Movers Benchmark general partner Bill Gurley on Monday said the artificial intelligence wave is real and a lot of people got rich quick, but he expects a "reset" to come."When people get rich quick, a whole bunch of people come in and want to get rich too, and that's why we end up with bubbles," Gurley told CNBC's "Money Movers."Gurley referenced the work of Carlota Perez, an economic scholar who wrote "Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages," and noted that "bubbles only exist when the actual wave is real."The venture capitalist said that when the reset happens, investors should have a price in mind for beat-down software-as-a-service stocks, "and start gobbling them up."AI has threatened to disrupt segments across the economy, but software stocks have been particularly hard-hit recently. Salesforce and ServiceNow have each lost about 25% so far in 2026. The iShares Expanded Tech-Software Sector ETF (IGV), which generally tracks the sector, is down about 20% this year.Tech companies are spending at record rates, due to massive investments in AI infrastructure and soaring memory costs. AI spending for Amazon, Meta, Google and Microsoft is projected to be about $700 billion this year.Benchmark was an early investor in Uber, and Gurley played a key role in the exit of then-CEO Travis Kalanick in 2017.Gurley said Uber's annual burn rate of $2 billion during his involvement was "high anxiety" as he pointed to the much higher numbers from today's big model companies."God bless them," Gurley said of AI companies like Anthropic and OpenAI that are burning through cash. "It's a scary way to run a company." Read more CNBC tech newsCEO Jensen Huang sees $1 trillion in orders for Blackwell and Vera Rubin through '27Bill Gurley on AI bubble: A bunch of people got rich quick and a reset is comingMeta stock climbs nearly 3% on report of planned layoffs to offset AI spendingBig Tech purchases of carbon credits explode amid AI race, with Microsoft leading the way Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The president recently launched a war in Iran after topping Venezuelan leader Nicolas Maduro by force. View More

A tricycle is decorated with U.S. and Cuban flags in Havana on Feb. 26, 2026.Yamil Lage | AFP | Getty Images President Donald Trump on Monday said he thinks he will have the "honor" of "taking Cuba," speaking during an executive order signing at the White House. "Whether I free it, take it, I think I can do anything I want with it," Trump told reporters in the Oval Office with Vice President JD Vance standing behind him. "They're a very weakened nation right now."The president's comments on taking Cuba come as he carries out a war in Iran that is stretching into its third week. Trump has encouraged the people of Iran to depose their government in that conflict, one of a litany of reasons he has given for starting the war. Trump recently suggested he will turn his sights to Cuba after the U.S. achieves its aims in Iran. He has threatened a "friendly takeover" of the Caribbean nation, which has been an adversary of the U.S. for decades except for a brief thaw when Barack Obama was president.The Cuba threats are the latest example of Trump's more aggressive foreign policy during his second term in the White House. In addition to the war in Iran, Trump ordered a military operation that captured the Venezuelan leader Nicolás Maduro and has made repeated overtures to acquire Greenland, the Arctic island territory of Denmark. Denmark has repeatedly said Greenland is not for sale. Read more CNBC politics coverageTrump-Xi China summit may be delayed if Trump wants to stay in Washington for Iran war: BessentDemocrats blast FCC Chair Carr’s broadcast license threats as anti-First Amendment, ‘totalitarian’DOJ to appeal judge’s block of subpoenas to Fed in Jerome Powell criminal investigation The White House has effectively blockaded Havana from Venezuelan oil after Maduro's capture. That has caused an energy and economic crisis in the island country. Cuba confirmed it was speaking with the Trump administration about a potential solution last week. Trump also confirmed the talks on Monday. "I can tell you that they're talking to us; it's a failed nation, they have no oil, they have no nothing," Trump said. "They have nice land." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

At Nvidia's annual developer conference, CEO Jensen Huang said the company is seeing booming demand for its latest technology. View More

In this articleNVDAFollow your favorite stocksCREATE FREE ACCOUNT Nvidia's CEO Jensen Huang speaks during a keynote address at Nvidia's GTC Conference on March 16, 2026 in San Jose, California. Nvidia's GTC Conference focuses on recent developments and future uses of AI. Benjamin Fanjoy | Getty Images At Nvidia's annual developer conference on Monday, CEO Jensen Huang took the stage to a packed house and said he expects purchase orders between Blackwell and Vera Rubin to reach $1 trillion through 2027. Last year, the company had projections for a $500 billion revenue opportunity between the two chip technologies. Following Nvidia's earnings report last month, Finance chief Colette Kress said the company expects growth this year to exceed what was included in that estimate. Huang said demand is booming from startups and big companies alike. Nvidia shares rose about 2% on Monday."If they could just get more capacity, they could generate more tokens, their revenues would go up," Huang said at GTC in San Jose, California. Nvidia's graphics processing units for artificial intelligence have turned the brand into a household name and the most valuable public company in the world, worth about $4.5 trillion. As mass AI adoption shifts from chatbots to agentic apps that spawn off other agents to accomplish tasks, the number of tokens being generated has exploded, creating even greater need for running inference at faster speeds.The chipmaker said in February that year-over-year revenue this quarter will surge about 77% to roughly $78 billion. The company has reported 11 straight quarters of revenue growth above 55%. Nvidia is scheduled to roll out Vera Rubin later this year. The system, which is made up of 1.3 million components, will deliver 10 times more performance per watt than its predecessor, Grace Blackwell, the company claims. That's a significant development when energy consumption is one of the most critical issues facing the AI build-out.Also on Monday, Huang unveiled the Nvidia Groq 3 Language Processing Unit, or LPU, the company's first chip from the startup that it mostly acquired through a $20 billion asset purchase in December, its largest deal ever. It's expected to ship in the third quarter. Nvidia CEO Jensen Hwang gives the keynote address at the company's annual GTC developers conference at the SAP Center in San Jose, California, on March 16, 2026. Josh Edelson | AFP | Getty Images Groq was founded by the creators of Google's in-house tensor processing unit, which has gained traction in recent years as a competitor to Nvidia's graphics processing units. The Groq 3 LPU is built to enhance its technology, with one core optimized for speeding up the GPU.Huang introduced a full rack dedicated to housing the new Groq accelerators. The Groq 3 LPX rack will hold 256 LPUs, and is meant to sit beside the Vera Rubin rack-scale system that's shipping to customers later this year. Huang said the Groq LPX rack can increase the tokens per watt performance of its Rubin GPUs by 35 times."We united, unified two processors of extreme differences, one for high throughput, one for low latency. It still doesn't change the fact that we need a lot of memory," Huang said. "And so we're just going to add a whole bunch of Groq chips, which expands the amount of memory it has."Huang also showed off a prototype of Kyber, Nvidia's next big rack architecture leap after Rubin. It will integrate 144 GPUs in compute trays that sit vertically instead of horizontally in order to boost density and lower latency. The Kyber design will be available in Vera Rubin Ultra, Nvidia's next rack-scale system, expected to ship in 2027.Roughly two hours into his keynote, Huang turned to the phenomenon of OpenClaw, which was launched in January by Austrian software developer Peter Steinberger. It's surged in popularity, due in part to attention on social media, as consumers and businesses swarm to products that can autonomously complete tasks, make decisions, and take actions on behalf of users without constant human guidance.Steinberger joined OpenAI last month, and CEO Sam Altman said OpenClaw will "live in a foundation as an open source project that OpenAI will continue to support."Huang highlighted a new developer toolkit to help people build and experiment with what's possible in new AI realms, using Nvidia hardware. He introduced a so-called reference stack named NemoClaw, specifically for OpenClaw, helping to make it "enterprise ready.""It finds OpenClaw, it downloads it. It builds you an AI agent," Huang said. In automotive, Huang gave details on a previously announced partnership with Uber, announcing the ride-hail service will launch a fleet powered by Nvidia's Drive AV software across 28 cities in four continents by 2028, starting with Los Angeles and San Francisco next year.Huang announced that Nissan, BYD, Geely, Isuzu and Hyundai are building level 4 autonomous vehicles on Nvidia's Drive Hyperion program. Isuzu and China's Tier IV are also building autonomous buses using the platform, with help from Nvidia's AGX Thor robotic system chip.— CNBC's Jordan Novet contributed to this report.WATCH: Inside Nvidia's Vera Rubin AI system watch nowVIDEO13:5913:59First look at Vera Rubin, Nvidia’s next AI system that’s 10 times more efficientTech Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Magicbricks and NAREDCO have joined forces to forge a strategic alliance designed to invigorate India's real estate sector. This one-year agreement positions Magicbricks as a key knowledge and communication partner, tasked with launching research reports and regular newsletters. View More

Mumbai: Real estate platform Magicbricks has entered into a strategic partnership with developers' body the National Real Estate Development Council ( NAREDCO ) to promote research-led dialogue, structured policy engagement and knowledge dissemination across India's real estate sector. Under a one-year memorandum of understanding, Magicbricks will serve as knowledge partner and official broadcast partner through MBTV for NAREDCO initiatives, the company said in a statement. The collaboration will include the launch of research reports and monthly co-branded newsletters, creating a unified pipeline for disseminating market insights aimed at helping homebuyers navigate the property market with greater clarity and access to credible, data-backed information. Also Read: Smaller towns to play big role in Indian housing market's next growth cycle The partnership is intended to bridge gaps between industry representation, reliable market intelligence and large-scale digital outreach, at a time when the sector is shifting from cyclical volatility towards a more formalised and regulated growth phase. It will also involve the curation and amplification of industry dialogues. Live Events As capital flows into real estate become increasingly institutional and regulatory frameworks more structured, demand for transparent, research-driven insights has grown across the sector. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

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Half of US generic drugs are made in India and transit the Strait of Hormuz. Supply chains prepare for emergencies, but prescription stockpiles are limited.  View More

An employee monitors bottles as they move along the drug production line inside the packaging unit at the Lupin Ltd. pharmaceutical plant in Salcette, Goa, India,Bloomberg | Bloomberg | Getty Images The closure of the Strait of Hormuz by Iran is a military strategy with vast consequences for the global economy, not just in the form of higher oil prices, but with disruptions in supply chains involving metals and manufacturing, and farming and food prices. And at some point in the future, supply chain experts say, Iran's attempt to choke of the strait will also hit American medicine cabinets. The only question is exactly how long existing stockpiles of prescriptions of generic drugs can last before the U.S.-Iran war becomes a significant health issue in the U.S. The connection between a Middle Eastern sea chokepoint and a U.S. pharmacy counter is less obvious than it might seem — and more direct than most consumers realize. The U.S. gets nearly half of its generic prescriptions from India — roughly 47 percent by volume, according to Rohit Tripathi, vice president of industry strategy for manufacturing at RELEX Solutions, a Helsinki-based pharmaceuticals supply chain planning software company. India, in turn, depends on the Strait of Hormuz for around 40 percent of its crude oil imports. "That oil ultimately feeds into the petrochemical inputs used throughout pharmaceutical manufacturing. So even though American consumers are not buying medicines directly from the Gulf, they are still at the end of a supply chain that runs through it," Tripathi said. Multiple ingredients needed to manufacture many drugs in India often travel through Gulf logistics hubs first. Chemical inputs produced in China are commonly consolidated by distributors in places like Dubai and across the UAE before being shipped on to Indian drug manufacturers. "Even when ingredients move directly from China to India, production still relies heavily on petrochemical supplies from the Gulf," said Steve Blough, chief supply chain strategist at Infios, a supply chain execution software firm. "Disruptions around the Strait of Hormuz could quickly ripple into global pharmaceutical supply chains and eventually affect U.S. consumers," Blough said, adding that the situation could quickly manifest as shortages for critical medicines in the U.S. and higher costs. "Fuel costs will effect the costs of everything, but the biggest effects will be on generics because they have the tightest margins," said Marc Kahn,  former dean of the University of Nevada, Las Vegas medical school and current chief of hematology. Kahn points to glycerin, a common medication ingredient that is petroleum-based, that could be impacted if oil supplies remained choked off. Acetaminophen, he points out, is traditionally manufactured from phenol, a chemical derived from petroleum. "I worry about generic drugs in particular, which represent 90% of prescriptions filled in the U.S. and deliver thin profit margins for manufacturers," said Dr. William Feldman, associate professor of medicine in the division of pulmonary, critical care, sleep medicine, clinical immunology & allergy at the David Geffen School of Medicine at UCLA. "India and China are the biggest suppliers of generic drugs to the U.S., and prolonged or widening conflict could raise costs for generic firms, leading to higher prices and/or shortages for patients," he said.U.S. Treasury Secretary Scott Bessent told CNBC's Brian Sullivan on Monday morning that the U.S. is allowing Iranian tankers to transit the Strait of Hormuz to supply countries including India. watch nowVIDEO6:3706:37India only has 10 days of LPG import cover: AnalystInside India Recent supply chain disruptions and freight rate increases are a warning sign, but not a red alert, according to Tripathi. "Early signals are already starting to show up in freight markets, with some reports of rising air cargo rates out of India and growing concern among manufacturers about potential inventory pressure," he said. If the strait stays closed, "shortages will start to surface," he said. Air cargo rates from India have reportedly climbed 200 to 350 percent for some routes, according to Blough. Because most pharmacies and wholesalers operate on a just-in-time inventory model for generics, he warned that sustained disruption could start showing up for consumers within four to six weeks — first as shortages or delays for high-volume medications like diabetes drugs, hypertension treatments, statins, and antibiotics, and potentially extending to some temperature-sensitive therapies, including certain cancer treatments. The longer the war lasts, there is a real likelihood that consumer and health system will see price increases and disruptions of the supply chain, said Amanda Chawla, senior vice president and chief supply chain and post acute care officer at Stanford Health Care. It is not only drugs she is worried about. Beyond acetaminophen and antibiotics, she said insulin syringes, hand sanitizers, nitrile exam gloves, and ointments that require petroleum or petroleum by-products in manufacturing for production are at risk. As the price of oil increases, that will translate to the cost production of such goods. The sea-freight picture carries its own complications with shipping delays not only increasing the cost and time needed to move finished medicines. While some shipments use sophisticated cryogenic containers, many still rely on cooler-style packaging that requires ice or battery-powered fans to be replenished every few hours to prevent a cold-chain failure. Refrigerated "reefer" containers operate on strict transit timelines, and with canceled sailings and diverted routes, some containers are stuck at origin ports while others are stranded at diversion hubs that may not have the power capacity to keep large volumes of refrigerated cargo running. Empty containers are also becoming trapped in the Middle East, preventing them from returning to Asia to load new shipments. Container shortages typically associated with supply chain disruptions mean Indian exporters may have to compete for limited cargo space. "That creates a cascading problem: full containers can't move, in-transit cargo must stay cold, and manufacturers may struggle to secure the specialized equipment needed to ship the next batch of medicines," Blough said. Some carriers may even declare force majeure, relieving them of liability for delays or damage tied to the disruption. From India to Ohio, no reason for supply panic todayThe central question when it comes to health care supply is one of timing. Most manufacturers and distributors currently hold 30 to 60 days of buffer stock, according to Tripathi, so the first two to four weeks may feel manageable. The products most vulnerable once that buffer runs thin would likely be everyday generics where supply chains are already tight and margins are thin — common antibiotics like amoxicillin, blood-pressure medications such as metoprolol, diabetes drugs like metformin, statins, and common painkillers. But in Germantown, Ohio — population around 5,000, half a world away from the smoldering refineries and sinking ships in the Strait of Hormuz — a one-screen theater shows recent releases, a colorful barber pole beckons customers for a haircut, and the mood at the Germantown Pharmacy where prescriptions are filled far from the chain giants remains calm. Pharmacist Katie Perry, who owns the pharmacy, says it is business as usual. She pointed to the nation's strategic national stockpile as a backstop and noted that Covid helped many pharmacists build resiliency into their supply chains. If a drug isn't available from one source, there is usually enough redundancy built in to procure it from another. Within the India-based drug manufacturing industry, the current message is that patients should not be living in fear of a supply panic. Kathleen Jaeger, the U.S. spokesperson for the Indian Pharmaceutical Alliance, a trade organization representing India's generic drug industry, says consumers should not expect to see empty medicine cabinets in the short term. "There is no risk today. People will watch and be mindful, but when you realize this industry has gone through Covid, the Red Sea issue, and Ukraine, everyone is doing their very best to manage these disruptions," she said. Most companies, she notes, have three to six months' worth of medication stockpiled. "Companies plan extensively for disruption," she added. The major Indian generic manufacturers — including Indian Pharmaceutical Alliance members Sun Pharma, Dr. Reddy's Laboratories, and Lupin, which together account for a significant share of U.S. generic prescriptions — have not issued independent statements on the conflict, deferring instead to the trade group's reassurances. Jaeger stressed the importance of lasting public-private partnerships in helping to bring some Indian drug companies production to the U.S., and some Indian companies have begun to invest more in reshoring initiatives. Lupin announced plans to invest $250 million to build a new production facility in Coral Springs, Florida, focused on respiratory drugs.   Perry said customers are not expressing concerns about war-related shortages. "They are way more concerned about the war between PBMs, pharmacies, and consumers," she said, referring to the complicated reimbursement rates pharmacy benefit managers set for local pharmacies, which directly impact prices. Perry, who is also an advisory board member of the School of Pharmacy at Cedarville University, has seen supply shocks before. A fire at a wholesale location last year forced her to resource product from elsewhere. "Crazy things happen every day," she said. "Those things can always happen." For now, the pills are on the shelves. The question experts are watching is how long that holds. "The region is a critical transit point for pharmaceutical cargo," Blough said.Correction: Marc Kahn is former dean of the University of Nevada, Las Vegas medical school and current chief of hematology. An earlier version of this article included an incorrect spelling of his name. watch nowVIDEO3:0803:08Controlling the Strait of Hormuz might require U.S. boots on the groundAccess Middle East Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The National Company Law Appellate Tribunal has taken a notable step by reviving an insolvency case involving Dilip Buildcon. Initially dismissed for lack of prosecution, Shyamji Construction's appeal has gained new life with the tribunal's acceptance of a delay condonation request. The ruling also acknowledged a 43-day delay in refiling, attributed to medical circumstances. View More

New Delhi: The National Company Law Appellate Tribunal ( NCLAT ) on Monday restored an insolvency appeal against Dilip Buildcon , a construction and infrastructure development company. A two-member bench of the NCLAT on December 12, 2025, dismissed the appeal filed by Shyamji Construction Co against Dilip Buildcon on the ground of 'non-prosecution'. However, an application was filed by Shyamji Construction Co for condonation of delay and restoration of appeal against Dilip Buildcon, which was allowed. "We have heard Counsel for the applicant (Shyamji Construction), as well as Counsel for the respondent (Dilip Buildcon). We find sufficient cause shown in the application for recall of the order dated December 16, 2025...appeal is restored in its original number," said a two-member bench, comprising Chairperson Justice Ashok Bhushan. Moreover, the NCLAT also admitted Shyamji Construction's application praying for condonation of 43 days' refiling delay on account of medical issues with the appellant due to which the delay was caused. Live Events "We find sufficient cause shown in the application. Refiling delay condoned," said the NCLAT. Shyamji Construction, through its authorised representative Anil Bhatia, had approached the NCLT claiming operational debt. However, according to reports, it was dismissed on the grounds of pre-existing disputes. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Meta is planning capital expenditure of up to $135 billion related to AI this year. View More

In this articleMETANBISFollow your favorite stocksCREATE FREE ACCOUNT In an aerial view, a billboard advertising an artificial intelligence (AI) company is posted on Sept. 16, 2025 in San Francisco, California.Justin Sullivan | Getty Images Meta has signed a new long-term agreement to spend up to $27 billion on Dutch cloud provider Nebius' AI infrastructure, the company announced on Monday. Nebius' shares surged 14% in early trading.Over the next five years, Nebius will provide $12 billion of dedicated capacity across a number of locations, including on what the company says will be one of the first large-scale deployments of Nvidia's latest AI-specialist Vera Rubin chips. Meta has also committed to purchase additional available compute capacity from Nebius, worth up to a total of $15 billion over five years.Netherlands-based Nebius has emerged as a leading European player in the rapidly developing AI cloud computing space. The company has seen its share price increase more than 400% since listing in New York in 2024. Stock Chart IconStock chart iconNebius shares year-to-date "We are pleased to expand our significant partnership with Meta as part of securing more large, long-term capacity contracts to accelerate the build-out and growth of our core AI cloud business," Arkady Volozh, founder and CEO of Nebius, said in a statement. Citi said Monday it was initiating coverage of Nebius with a buy/high risk rating, which it noted was supported by a "differentiated view on AI datacenter [total addressable market] growth, margin improvement and NBIS's capital-efficient scaling."Meta is part of a group of hyperscalers planning huge spending as they race to build out infrastructure to power the AI boom. The company said its AI-related capital expenditure would hit between $115 billion and $135 billion this year, as part of a combined $700 billion in spending by hyperscalers including Amazon, Alphabet and Microsoft. It comes as investors pile into the AI cloud computing sector. U.K.-based AI data center startup Nscale announced it had raised $2 billion at a $14.6 billion valuation last week, from investors including Nvidia.The chip giant also announced it would invest $2 billion in Nebius last week, which saw the Dutch company's stock pop 16%.Nebius was founded in 2022 after a restructuring of Russian company Yandex's operations based outside of its home market and listed in New York in 2024. Its share price rose more than 200% in 2025 and has increased by 35% so far in 2026. The company also inked a deal to deliver computing resources to Microsoft, worth up to $19.4 billion over five years, in September. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Temple authorities initiate recovery proceedings for ?9.74 crore rent arrears from company View More

The proposed development at Karanai will cater to the mid-income homebuyer segment, which continues to demonstrate strong demand in Chennai’s residential market View More