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Amazon Web Services CEO, Matt Garman speaks during CNBC Power Lunch on July 1, 2024.CNBCAmazon's cloud boss on Thursday gave employees a frank message about the company's recently announced five-day in-office mandate.Staffers who don't agree with Amazon's new policy can leave, Amazon Web Services CEO Matt Garman said during an all-hands meeting at the company's second headquarters in Arlington, Virginia."If there are people who just don't work well in that environment and don't want to, that's OK, there are other companies around," Garman said, according to a transcript viewed by CNBC. "At Amazon, we want to be in an environment where we are working together, and we feel that collaborative environment is incredibly important for our innovation and for our culture."Amazon has observed that ...

Check out the companies making the biggest moves midday: Taiwan Semiconductor — Shares surged 9.79% after the company, which is the world's largest producer of advanced chips, reported a 54% gain in net profit for the third quarter driven by strong artificial intelligence-related demand. Shares of chip giants Nvidia and Micron each rose about 3% in sympathy following the quarterly results. Nvidia — The AI darling was up nearly 1% after hitting a record high earlier in the trading session. Taiwan Semiconductor, which is rallying on its earnings report, is a major Nvidia supplier. Expedia , Uber — Shares of the companies moved in opposite directions following a Financial Times report, which cited people familiar with the process, that Uber explored a potential takeover bid for Expedia. The p...

Third Point's Daniel Loeb believes the odds are rising that former President Donald Trump will win the U.S. presidency this November over Vice President Kamala Harris, and the influential hedge fund manager is increasing positions that would benefit under a Republican administration and Congress. "We believe that the likelihood of a Republican victory in the White House has increased, which would have a positive impact on certain sectors and the market overall," wrote Loeb in a letter to investors obtained by CNBC. "We believe the proposed 'America First' policy's tariffs will increase domestic manufacturing, infrastructure spending, and prices of certain materials and commodities … a reduction in regulation generally and especially in the activist antitrust stance of the Biden-Harris admi...

Nvidia 's rally to a record intraday high on Thursday briefly helped lift the S & P 500 into uncharted waters, leaving investors to wonder what's next for the artificial intelligence trade. At one point, shares of the chipmaker climbed as much as 3.8% in Thursday's session and at times traded above $140. That marked the first new intraday high for the megacap technology giant since June. Nvidia appeared to benefit from enthusiasm surrounding Taiwan Semiconductor , which jumped almost 10% after topping Wall Street's third-quarter earnings estimates. The S & P 500 broad market index also touched a record high during the day, mostly driven by strong semiconductor and financial stocks. Nvidia's stock, which scored an all-time closing high on Monday, has added 1.6% so far this week. The...