Connect with us

Published

on

LONDON — Before the launch of “ABBA Voyage,” the London concert performed by 3D digital avatars of the iconic Swedish band, member Björn Ulvaeus said they hoped audiences would “feel that they’ve gone through something that they’ve never seen before.”

Following its May 27 debut, much of the reaction from domestic and international critics, fans and industry professionals has been rapturous.

“Other than the team involved, no one really knew how they would integrate an avatar-based performance,” Sarah Cox, director of live event technical consultancy Neutral Human, told CNBC. “That blew me away as someone working on real-time graphics. My jaw hit the floor. You look around and people are really buying into the idea that ABBA are there.”

Demand has been strong — the show’s run has been extended to November 2023 and could well go beyond that.

And the team has confirmed it aims to take the show around the world.

“Our ambition is to do another ABBA Voyage, let’s say in North America, Australasia, we could do another one in Europe. We can duplicate the arena and the show,” producer Svana Gisla told a U.K. government committee session in November.

What can fans expect from ABBA’s new virtual concert, ABBA Voyage?

It also expects other shows to begin following the same model.

“The tech itself isn’t new but the way in which we’ve used it and scale and barriers we’ve broken down are new. I’m sure others will follow and are planning to follow,” Gisla said.

That could “absolutely” be the case somewhere like Las Vegas, where some shows run round the clock with rotating crews, she added.

“We have live musicians, so we keep our band and do seven shows over five days a week. But you could roll round the clock. Vegas will quickly adopt this style of entertainment and do Elvis or the Beatles.”

Money, money, money

View of the ABBA Arena on May 26, 2022 in London, England.

Dave J Hogan | Getty Images Entertainment | Getty Images

It was also designed for flexibility. It was constructed on a one meter raised platform without breaking ground, and could be disassembled and reconstructed elsewhere — or stay in place and host another show in future.

But emulating Voyage’s model — which sees digital replicas of the four band members perform classic hits and newer numbers for 90 minutes, while also interacting with each other and speaking to the audience between songs — will be no easy task.

The show was in the works for five years and had a £141 million ($174.9 million) budget funded by global investors. It needs to get around 3 million people through its doors to break even, according to Gisla, and the average ticket price is £75.

After choosing their set list and making other creative decisions, the ABBA members did five weeks of performance in motion capture suits. Hundreds of visual effects artists then worked on the show for two years, led by the London branch of Industrial Light & Magic, a visual effects company founded by George Lucas.

Promotional image for ABBA Voyage, the digital avatar-based live show currently running in London.

Johan Persson | ABBA Voyage

A decade ago, a Coachella performance featuring an apparent hologram of Tupac Shakur impressed audiences and hinted at alternative reality’s potential in live shows, with the artist’s likeness digitally recreated without using archive footage.

While not meeting the technical definition of a hologram, which uses laser beams to construct an object with depth, the visual effects team projected a 2D image onto an angled piece of glass, which was itself projected onto a Mylar screen, creating a 3D effect. Shakur then “performed” two songs with Dr. Dre and Snoop Dogg, 16 years after his death.

The Voyage team is tight-lipped about exactly how their show works, but previously confirmed it is not a laser-based hologram either. It involves 65-million pixel screens which give the impression of the band performing life-size on stage in 3D in real time, with traditional-style concert screens showing close-ups and different views on either side.

Its servers are being pushed to the “absolute extreme” to render the images without lag, Gisla said, such that they are shaking through some transitions. She also acknowledged that the 10-meter high side screens are “very unforgiving” on detail and there are improvements that could be made.

Rapper Snoop Dogg (L) and a “hologram” of deceased rapper Tupac Shakur perform on stage on the third day of the 2012 Coachella Valley Music & Arts Festival.

Christopher Polk | Getty Images Entertainment | Getty Images

But, she added, with real-time render speeds becoming quicker, “Benny and Bjorn could be sitting in a chair at home connected to their avatar, updating them to talk about last night’s football result to the audience. That will come.”

Next steps

ABBA avatars perform their 1981 song The Visitors in London, 2022.

Johan Persson | ABBA Voyage

“Posthumously you can put artists back on stage, ethically you may or may not have a view on that,” said Gisla. “Having ABBA partake in this is I can say this is an ABBA concert. ABBA made the decisions, chose what to wear, chose their set list, ABBA made this show.”

For an artist like Elvis with an extensive visual and audio archive you could create an accurate replica, but without the input that makes this show feel so tangible, she said.

For Cox, live shows that provide a “shared experience” like ABBA Voyage hold a greater appeal than headset-based virtual experiences, though there will certainly be more of those available in future.

And both AR and VR are spreading in the worlds of gaming, events, sports, theater and beyond.

Digital avatar experiments have included musician Travis Scott premiering a song within the wildly popular game Fortnite in 2020, with his avatar looming over players who were still moving around within the world of the game. It got a reported 45.8 million viewers across five shows. Lil Nas X performed the same year in the game Roblox.

A 15 year-old plays Fortnite and Travis Scott Present: Astronomical on April 23, 2020, in Los Angeles, United States.

Frazer Harrison | Getty Images Entertainment | Getty Images

Jo Twist, chief executive of trade body UK Interactive Entertainment, said she was noticing growing opportunities in the intersections between games, music and entertainment experiences.

“While these kind of experiences have mostly been the preserve of the biggest artists so far, we believe that growth in both the number of people who play, and online game worlds that enable user generated content, could open games up to all kinds of performers, allowing them to successfully tap into its enormous player base to raise their profile.” she said.

Giulia De Paoli, founder and general manager of show design and AR studio Ombra, has worked on projects bringing “extended reality” — spanning AR and VR — to live sports.

“AR has permitted us to create a full show for broadcast events that would be impossible with traditional projection and LED setups, like creating huge 10-meter flying numbers and flames around the arena,” she said.

“We see this developing into a full experience for people to watch live and, as the word says, augmenting the reality around us, gamifying, interacting and seeing impossible things happen.”

Continue Reading

Technology

Stocks end November with mixed results despite a strong Thanksgiving week rally

Published

on

By

Stocks end November with mixed results despite a strong Thanksgiving week rally

Continue Reading

Technology

Palantir has worst month in two years as AI stocks sell off

Published

on

By

Palantir has worst month in two years as AI stocks sell off

CEO of Palantir Technologies Alex Karp attends the Pennsylvania Energy and Innovation Summit, at Carnegie Mellon University in Pittsburgh, Pennsylvania, U.S., July 15, 2025.

Nathan Howard | Reuters

It’s been a tough November for Palantir.

Shares of the software analytics provider dropped 16% for their worst month since August 2023 as investors dumped AI stocks due to valuation fears. Meanwhile, famed investor Michael Burry doubled down on the artificial intelligence trade and bet against the company.

Palantir started November off on a high note.

The Denver-based company topped Wall Street’s third-quarter earnings and revenue expectations. Palantir also posted its second-straight $1 billion revenue quarter, but high valuation concerns contributed to a post-print selloff.

In a note to clients, Jefferies analysts called Palantir’s valuation “extreme” and argued investors would find better risk-reward in AI names such as Microsoft and Snowflake. Analysts at RBC Capital Markets raised concerns about the company’s “increasingly concentrated growth profile,” while Deutsche Bank called the valuation “very difficult to wrap our heads around.”

Adding fuel to the post-earnings selloff was the revelation that Burry is betting against Palantir and AI chipmaker Nvidia. Burry, who is widely known for predicting the housing crisis that occurred in 2008 and the portrayal of him in the film “The Big Short,” later accused hyperscalers of artificially boosting earnings.

Palantir CEO Alex Karp vocally hit the front lines, appearing twice in one week on CNBC, where he accused Burry of “market manipulation” and called the investor’s actions “egregious.”

“The idea that chips and ontology is what you want to short is bats— crazy,” Karp told CNBC’s “Squawk Box.”

Despite the vicious selloff, Palantir has notched some deal wins this month. That included a multiyear contract with consulting firm PwC to speed up AI adoption in the U.K. and a deal with aircraft engine maintenance company FTAI.

But those announcements did little to shake off valuation worries that have haunted all AI-tied companies in November.

Across the board, investors have viciously ditched the high-priced group, citing fears of stretched valuations and a bubble.

In November, Nvidia pulled back more than 12%, while Microsoft and Amazon dropped about 5% each. Quantum computing names such as Rigetti Computing and D-Wave Quantum have shed more than a third of their value.

Apple and Alphabet were the only Magnificent 7 stocks to end the month with gains.

Sill, questions linger over Palantir’s valuation, and those worries aren’t a new concern.

Even after its steep price drop, the company’s stock trades at 233 times forward earnings. By comparison, Nvidia and Alphabet traded at about 38 times and 30 times, respectively, at Friday’s close.

Karp, who has long defended the company, didn’t miss an opportunity to clap back at his critics, arguing in a letter to shareholders that the company is making it feasible for everyday investors to attain rates of return once “limited to the most successful venture capitalists in Palo Alto.”

“Please turn on the conventional television and see how unhappy those that didn’t invest in us are,” Karp said during an earnings call. “Enjoy, get some popcorn. They’re crying. We are every day making this company better, and we’re doing it for this nation, for allied countries.”

Palantir declined to comment for this story.

WATCH: Palantir CEO Alex Karp: We’ve printed venture results for the average American

Palantir CEO Alex Karp: We've printed venture results for the average American

Continue Reading

Technology

CME disruption, Black Friday, the K-beauty boom and more in Morning Squawk

Published

on

By

CME disruption, Black Friday, the K-beauty boom and more in Morning Squawk

CME Group sign at NYMEX in New York.

Adam Jeffery | CNBC

This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

Here are five key things investors need to know to start the trading day:

1. Down and out

Stock futures trading was halted this morning after a data center “cooling issue” took down several Chicago Mercantile Exchange services. Individual stocks were still trading before the bell, while the CME said futures indexes and options trading would open fully at 8:30 a.m. Follow live markets updates here.

The stock market has rebounded during the holiday-shortened trading week. But the three major indexes are still on pace to end November’s trading month — which ends with today’s closing bell — in the red. The Dow and S&P 500 are poised to snap six-month winning streaks, while the Nasdaq Composite is on track to see its first negative month in eight.

Today’s trading session ends early at 1 p.m. ET.

2. Shopping and dropping

A Black Friday sale sign is displayed in a shop window at an outlet mall in Carlsbad, California, U.S., Nov. 25, 2025.

Mike Blake | Reuters

Black Friday was once considered the biggest in-person shopping day of the year, drawing huge crowds to stores in search of bargains. But while millions are still expected to partake in the occasion, it’s not what it used to be.

Here’s what to know:

  • In the past six years, online sales have outpaced brick-and-mortar spending on Black Friday. Data shows in-person foot traffic has been mostly flat over the last few years, as well.
  • No matter where they make their purchases, shoppers are also skeptical that they’re getting the best deals.
  • As CNBC’s Gabrielle Fonrouge reports, the shift has meant a change in strategy for many of the retail industry’s biggest names. Some have started offering their holiday sales earlier in the season, while others are spacing out their promotions.
  • Deloitte reported that the average consumer will shell out $622 between Nov. 27 and Dec. 1, a decrease of 4% from last year.
  • Even as the day of deals loses its allure, AT&T found that Gen Z participates the most, while their older counterparts do their shopping closer to Christmas.

3. AI comeback

Cfoto | Future Publishing | Getty Images

Alphabet has been a notable exception to the recent tech downturn. Shares of the Google parent have surged more than 13% this month as Wall Street sees the company as an AI leader.

Alphabet began the month by announcing its latest tensor processing units, or TPUs, called Ironwood. Last week, the company launched its latest AI model, Gemini 3, which caught positive attention from Silicon Valley heavyweights.

Shares of the stock are now up close to 70% this year, making it the best-performer within megacap tech. But experts told CNBC’s Jennifer Elias that Alphabet’s lead in the competitive AI market is marginal and could be hard to hold onto.

Get Morning Squawk directly in your inbox

4. Tech’s tug of wars

Alibaba announced plans to release a pair of smart glasses powered by its AI models. The Quark AI Glasses are Alibaba’s first foray into the smart glasses product category.

Alibaba

The Alphabet-Nvidia AI race isn’t the only tech rivalry that has heated up in recent days.

Alibaba‘s AI-powered smart glasses went on sale yesterday. With its new wearable tech offering, the Chinese tech company is going up against major players — namely Meta, which unveiled its smart glasses with Ray Ban in September.

Meanwhile, Counterpoint Research found Apple is poised to ship more smartphones than Samsung this year for the first time in 14 years. Apple is also poised to boast a larger market share, driven by strong iPhone 17 sales.

5. From Seoul to Los Angeles

Carly Xie looks over facial mask items at the Face Shop, which specializes in Korean cosmetics, in San Francisco, April 15, 2015.

Avila Gonzalez | San Francisco Chronicle | Hearst Newspapers | Getty Images

American shoppers are increasingly looking to South Korea for their cosmetics. NielsenIQ found U.S. sales of so-called “K-beauty” products are slated to surge more than 37% this year to above $2 billion.

Retailers ranging from beauty product hubs Ulta and Sephora to big-box chains Walmart and Costco are jumping on the trend. On top of that, Olive Young — aka the “Sephora of Seoul” — is opening its first U.S. store in Los Angeles next year.

The Daily Dividend

Here are some stories worth circling back to over the weekend:

CNBC’s Chloe Taylor, Gabrielle Fonrouge, Laya Neelakandan, Jessica Dickler, Sarah Min, Sean Conlon, Jennifer Elias, Arjun Kharpal and Luke Fountain contributed to this report. Josephine Rozzelle edited this edition.

Continue Reading

Trending