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Miami Herald
an hour ago
- Miami Herald
Veteran trader turns heads with Netflix earnings review
Back in the Seventies, the question was, "Is it live, or is it Memorex?" This was the tagline of an ad campaign featuring Ella Fitzgerald, where Memorex said their cassette recordings of the legendary singer's voice were so clear that they could shatter a glass – just as her live singing could. Don't miss the move: Subscribe to TheStreet's free daily newsletter Today, TV viewers may want to know is it real or is it artificial intelligence, given that Netflix (NFLX) used generative AI in one of its TV shows for the first time. "We remain convinced that AI represents an incredible opportunity to help creators make films and series better, not just cheaper," Ted Sarandos, Netflix's co-chief executive told analysts. "There are AI-powered creator tools. So, this is real people doing real work with better tools." AI was used to create a scene of a building collapsing in the Argentine science fiction show, The Eternaut. "So the creators were thrilled with the result," he said during the company's second-quarter earnings call. "We were thrilled with the result. And more importantly, the audience was thrilled with the result." Bloomberg/Getty Images Netflix, home to such popular shows as Squid Games, Stranger Things and Ozark, beat Wall Street's earnings expectations for the quarter, and boosted its full-year revenue forecast to a range of $44.8 billion and $45.2 billion, up from an earlier call for $43.5 billion to $44.5 billion. This was the second quarter that Netflix did not release quarterly updates on subscription data. More Streaming: Walt Disney offers new perks for Disney+ membersBank of America sends strong message on NetflixNetflix has a genius plan to find its next hit show "Our higher forecast primarily reflects the weakening of the US dollar vs. most other currencies, plus healthy member growth and ad sales," Netflix said in a letter to shareholders. The company rolled out its proprietary Netflix Ads Suite in April, and co-CEO Greg Peters said, "We see good performance metrics across all countries, and the early results are in line with our expectations." "The most immediate benefit from this rollout is just making it easier for advertisers to buy on Netflix, Inc.," he said. "We hear that benefit, that ease, from direct feedback talking to advertisers. They tell us that it is easier." Several investment firms issued research reports following the earnings release, including Bank of America Securities, which reiterating its buy rating and its $1,490 price target. "In our view, Netflix shares will be fueled by continued positive subscriber and earnings momentum in addition to evolving advertising and live opportunities," BofA said. "Supported by its world-class brand, leading global subscriber scale, position as an innovator and increased visibility in growth drivers, we believe that Netflix will continue to outperform," the firm added. Wedbush analysts raised their price target on Netflix shares to $1,500 from $1,400 and reiterated their outperform rating, saying the company "continues to produce phenomenal results with ever more growth in its sights." "Even as investor expectations were high heading into the print, and shares reflected some disappointment in the size of the beat and raise, the quality of the beat and raise keeps us positive as we assess the ongoing expansion of Netflix's free cash flow," the firm said. Netflix shares are up 36% this year and the stock has surged 88% from this time in 2024. However, shares were falling on July 18, and The StreetPro's Stephen Guilfoyle wanted to know what was going on. Related: Netflix makes a bold move to find the next 'Squid Game' "It is apparent that the markets are not impressed in these Netflix earnings nor in the guidance," the veteran trader said in his recent column. Looking over Netflix's price chart, Guilfoyle, whose career dates back to the floor of the New York Stock Exchange in the 1980s, said that shares broke out from a double-bottom reversal this spring and into a June 30 high. "I think investors should be on the alert at this point, even if the stock rallied from here, that the shares have already created two thirds of a head-and-shoulders pattern of bearish reversal," he said. "This is not a healthy-looking chart." The daily moving average convergence divergence, which helps traders spot potential buy and sell signals, is now pretty bearish looking as well, he said. In addition, the stock is now trading below its 50-day simple moving average, which calculates the average price during a specified period of time, smoothing out price fluctuations to reveal overall trends. "There is a very good chance that if it does not look like the shares can retake that line before going into the weekend on Friday night that portfolio managers will be forced to reduce long side exposure by their respective risk managers," Guilfoyle said. "This, in my opinion, is not a dip to be bought, unless that line is retaken and held," he added. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
2 hours ago
- Yahoo
It's Never ‘Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate
When Sam Altman, CEO of OpenAI, described the extraordinary surge in user demand following a viral AI launch, he offered a candid glimpse into the operational pressures that come with leading the artificial intelligence (AI) revolution. Altman's remarks, delivered during a Bloomberg Originals interview, capture both the scale of recent events and the practical constraints that even the world's most advanced AI companies must contend with. Speaking about the massive spike in users resulting from the launch of Studio Ghibli-style images in a recent ChatGPT release, Altman recounted, 'This level of virality is an unusual thing. This last week, I don't think this has happened in the history of tech to any company before. I've seen viral moments, but I have never seen anyone have to deal with an influx of usage like this.' More News from Barchart OpenAI CEO Sam Altman Calls DeepSeek's Bluff: 'I Don't Think They Figured Out Something Way More Efficient' Vanguard Is Now the Top Investor in MicroStrategy Stock. Should You Buy MSTR Too? The Saturday Spread: Using Science to Pinpoint Empirically Enticing Trades in WMT, OKTA and RCAT Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Altman's experience, while anecdotal, is rooted in the realities of managing systems that, in a matter of hours, can attract millions of new users. When pressed on the numbers, Altman confirmed that OpenAI added more than a million users in just a few hours — an unprecedented feat even by the standards of Silicon Valley. The technical demands of such growth are immense. Altman explained that generating images with the latest AI models is a computationally intensive process. To cope with the surge, OpenAI had to divert compute resources from research and slow down other features, highlighting the finite nature of their infrastructure. 'It's not like we have hundreds of thousands of GPUs sitting around spinning idly,' he noted, underscoring the limits faced even by leading AI firms. Altman's authority on these matters is well established. As the architect behind OpenAI's rise, he has overseen the development and deployment of some of the most influential AI systems in the world. His leadership has been marked by a willingness to confront both the opportunities and the constraints of large-scale AI. The decisions to borrow compute capacity and restrict certain features reflect a pragmatic approach to resource management — a challenge that is increasingly central as AI adoption accelerates. The quote also reveals Altman's forward-looking mindset. He described reviewing a list of planned feature launches and realizing that, without additional compute resources, not all could be delivered as intended. 'More compute means we can give you more AI,' he concluded, succinctly connecting infrastructure investment to the pace of innovation. Altman's comments resonate in a market environment where demand for AI services routinely outstrips supply. The rapid adoption of generative AI tools has forced companies to rethink their infrastructure strategies, driving massive investments in data centers, GPUs, and cloud capacity. Industry observers note that such surges in usage are likely to become more common as AI applications proliferate across sectors. In sum, Sam Altman's reflections on OpenAI's viral growth episode provide a window into the operational realities of modern AI development. His experience and measured responses reinforce his reputation as a leader capable of steering his company through both the promise and the growing pains of technological transformation. On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
4 hours ago
- Yahoo
It's Never ‘Happened in the History of Tech to Any Company Before': OpenAI's Sam Altman Says ChatGPT is Growing at an Unprecedented Rate
When Sam Altman, CEO of OpenAI, described the extraordinary surge in user demand following a viral AI launch, he offered a candid glimpse into the operational pressures that come with leading the artificial intelligence (AI) revolution. Altman's remarks, delivered during a Bloomberg Originals interview, capture both the scale of recent events and the practical constraints that even the world's most advanced AI companies must contend with. Speaking about the massive spike in users resulting from the launch of Studio Ghibli-style images in a recent ChatGPT release, Altman recounted, 'This level of virality is an unusual thing. This last week, I don't think this has happened in the history of tech to any company before. I've seen viral moments, but I have never seen anyone have to deal with an influx of usage like this.' More News from Barchart OpenAI CEO Sam Altman Calls DeepSeek's Bluff: 'I Don't Think They Figured Out Something Way More Efficient' Vanguard Is Now the Top Investor in MicroStrategy Stock. Should You Buy MSTR Too? The Saturday Spread: Using Science to Pinpoint Empirically Enticing Trades in WMT, OKTA and RCAT Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Altman's experience, while anecdotal, is rooted in the realities of managing systems that, in a matter of hours, can attract millions of new users. When pressed on the numbers, Altman confirmed that OpenAI added more than a million users in just a few hours — an unprecedented feat even by the standards of Silicon Valley. The technical demands of such growth are immense. Altman explained that generating images with the latest AI models is a computationally intensive process. To cope with the surge, OpenAI had to divert compute resources from research and slow down other features, highlighting the finite nature of their infrastructure. 'It's not like we have hundreds of thousands of GPUs sitting around spinning idly,' he noted, underscoring the limits faced even by leading AI firms. Altman's authority on these matters is well established. As the architect behind OpenAI's rise, he has overseen the development and deployment of some of the most influential AI systems in the world. His leadership has been marked by a willingness to confront both the opportunities and the constraints of large-scale AI. The decisions to borrow compute capacity and restrict certain features reflect a pragmatic approach to resource management — a challenge that is increasingly central as AI adoption accelerates. The quote also reveals Altman's forward-looking mindset. He described reviewing a list of planned feature launches and realizing that, without additional compute resources, not all could be delivered as intended. 'More compute means we can give you more AI,' he concluded, succinctly connecting infrastructure investment to the pace of innovation. Altman's comments resonate in a market environment where demand for AI services routinely outstrips supply. The rapid adoption of generative AI tools has forced companies to rethink their infrastructure strategies, driving massive investments in data centers, GPUs, and cloud capacity. Industry observers note that such surges in usage are likely to become more common as AI applications proliferate across sectors. In sum, Sam Altman's reflections on OpenAI's viral growth episode provide a window into the operational realities of modern AI development. His experience and measured responses reinforce his reputation as a leader capable of steering his company through both the promise and the growing pains of technological transformation. On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
