U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States’ 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.
Emily Elconin | Getty Images News | Getty Images
Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos have a particularly sketchy past with President-elect Donald Trump. OpenAI CEO Sam Altman is in a heated legal battle with Elon Musk, who became one of Trump’s biggest backers and is poised to have an outsized role in his second administration.
That all helps explain announcements this week regarding donations to Trump’s inauguration fund.
“President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead,” Altman said in a statement Friday. Altman said he’s planning to make a personal donation of $1 million to the fund, the company confirmed.
Meta donated $1 million to the inauguration, the company confirmed to CNBC, weeks after Zuckerberg dined with Trump privately at his Mar-a-Lago resort. Amazon is also planning to donate $1 million, according to a report from The Wall Street Journal.
Trump has been a vocal critic of tech companies, and he signaled earlier this month that he won’t shy away from antitrust enforcement. The incoming president nominated Gail Slater, who advised Trump on tech policy during his first term, to head the Department of Justice’s antitrust arm.
“Big Tech has run wild for years, stifling competition in our most innovative sector and, as we all know, using its market power to crack down on the rights of so many Americans, as well as those of Little Tech!” Trump wrote in a Dec. 4 post on Truth Social announcing Slater’s nomination. “I was proud to fight these abuses in my First Term, and our Department of Justice’s antitrust team will continue that work under Gail’s leadership.”
Some of Trump’s most hostile words in the past have been directed at Amazon and Meta.
In his first term, Trump repeatedly attacked Bezos and his companies, Amazon and The Washington Post, accusing them of dodging taxes or publishing “fake news,” among other things. Trump also repeatedly pointed the finger at Amazon for its use of the U.S. Postal Service to deliver packages to customers, claiming the company contributed to the post office’s budget problems.
The animosity went both ways. In 2019, Amazon blamed Trump’s “behind-the-scenes attacks” against the company for its loss of a multibillion-dollar Department of Defense contract, then called JEDI. And prior to the 2016 election, Bezos criticized Trump’s behavior, saying it “erodes our democracy.” After the then-Republican candidate accused Bezos of using the Post as a “tax shelter,” Bezos, who also owns the Blue Origin space company, in a tweet offered to send Trump into space on one of his rockets.
Blue Origin competes for government contracts with Musk’s SpaceX.
At The New York Times’ DealBook Summit on Dec. 4, Bezos said he expects a more friendly regulatory environment in the upcoming administration.
“I’m actually very optimistic this time around,” Bezos said on stage. “He seems to have a lot of energy around reducing regulation. If I can help do that, I’m going to help him.”
Trump has called Bezos “Jeff Bozo.” His preferred nickname for the Meta CEO is “Zuckerschmuck.”
Following Trump’s loss in the 2020 election, he sued Facebook, Twitter and Google, as well as their respective CEOs in class-action lawsuits. All three companies booted Trump’s accounts from platforms after the Jan. 6, 2021, riots at the Capitol.
Trump has long accused Facebook of silencing conservative voices. In March, he called the platform “the enemy of the people along with a lot of the media,” in an interview on CNBC’s “Squawk Box.”
Microsoft declined to comment on whether it’s contributing to the inauguration. Representatives from Apple and Google didn’t immediately respond to CNBC’s requests for comment.
For OpenAI and Altman, the concerns are a bit different. Altman and Musk were co-founders of OpenAI, which initially was a nonprofit. The two have since publicly split, with Altman remaining as CEO of OpenAI and Musk starting a rival artificial intelligence company called xAI.
In March, Musk sued OpenAI — and co-founders Altman and Greg Brockman — alleging breach of contract and fiduciary duty. He claimed the project had been transformed into a for-profit entity that’s largely controlled by principal shareholder Microsoft, and is suing to thwart the change in structure.
OpenAI clapped back on Friday, claiming in a blog post titled “Elon Musk wanted an OpenAI for-profit,” that in 2017 Musk “not only wanted, but actually created, a for-profit” to serve as the company’s proposed new structure.
Altman’s coming concern is that Musk spent more than $250 million to help boost Trump’s campaign, and is now poised to help lead the “Department of Government Efficiency.” In that role, Musk could influence how AI is regulated in ways that favor his businesses.
On Dec. 5, Trump announced that venture investor and podcaster David Sacks, a friend of Musk’s, will join the Trump administration as the “White House A.I. & Crypto Czar.”
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. Stocks were higher Friday, led by a rebound in Big Tech as the AI trade attempted to regain momentum. Nvidia stock jumped nearly 3% after Bernstein noted it is trading at 25 times forward earnings, landing it in the eleventh percentile of valuation over the past decade. That’s cheap for the AI chip leader. Market strength carried across the semiconductor group, with Broadcom , AMD , and Micron all charging higher. A stock that did not participate in the rally was Nike . Shares of the sneaker and sportswear maker are down 9.5% a day after it reported solid earnings results but disappointing guidance. 2. Jim also highlighted the standout year for Wells Fargo under CEO Charlie Scharf. “Don’t bet against Charlie,” he said after The Wall Street Journal reported late Thursday that the bank climbed to No. 7 in the U.S. M & A league table, compared to No. 14 last year. The bank advised on high-profile deals, including Netflix ‘s bid for Warner Brothers and Union Pacific ‘s bid for Norfolk Southern . Financial stocks have been on a tear this year, prompting us on Friday to trim our position in Capital One and lock in significant gains. On Thursday, we increased the price target for Capital One to $270 from $250 and downgraded our rating to a 2. In addition, we increased Goldman Sachs ‘ price target to $925 from $850 and Wells Fargo’s price target to $96 from $90. 3. Boeing shares climbed 2.6% on Friday after JPMorgan reiterated the stock as a top pick while increasing its price target to $245 from $240, implying a 15% upside from its current price of $213 per share. Analysts argue the aerospace manufacturer’s path to growth is simple: build more planes and deliver them. While cash flow expectations have come down, JPMorgan believes there’s visibility to at least $10 billion by the end of the decade. Jim said he likes Friday’s stock price for a buy. He called Boeing a “long-term idea” given the strength in travel. 4. Stocks covered in Friday’s rapid fire at the end of the video were: FedEx , Conagra Brands , KB Home , Oracle , and CoreWeave . (Jim Cramer’s Charitable Trust is long NVDA, AVGO, WFC, GS, COF, BA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Sundar Pichai, chief executive officer of Alphabet Inc., during the Bloomberg Tech conference in San Francisco, California, US, on Wednesday, June 4, 2025.
David Paul Morris | Bloomberg | Getty Images
With the AI talent wars heating up between companies like OpenAI, Meta and Anthropic, one way Google has been competing is by aggressively rehiring former employees.
Some 20% of software engineers working on artificial intelligence that Google hired in 2025 were so-called boomerang employees, an increase from prior years, CNBC has learned. A Google spokesperson confirmed the statistic remains accurate as of December, and said the company saw a jump in the number of AI researchers coming from major competitors compared to 2024.
“We’re energized by our momentum, compute, and talent — engineers want to work here to keep building groundbreaking products,” the spokesperson said in a statement.
John Casey, Google’s head of compensation, recently told employees in a meeting about the rehiring. Casey said AI-focused software engineers are drawn to Google’s deep pockets and hefty computational infrastructure that’s needed to perform advanced AI work, according to audio reviewed by CNBC.
Google has a large pool of ex-employees to mine, particularly after its largest ever round of layoffs in early 2023, when parent company Alphabet cut 12,000 jobs, reducing headcount by 6%. That followed a market downturn driven by soaring inflation and rising interest rates. Google has since continued with rolling layoffs and buyouts.
Across the industry, employee boomerangs are up, according to data published earlier this year by ADP Research, with the sector it classifies as information showing the starkest numbers.
Google has been racing to catch up in generative AI after a slow start that followed OpenAI’s release of ChatGPT in late 2022. After fumbling a number of product rollouts, the company has bounced back this year, thanks to hefty investments in AI infrastructure and the success of its Gemini app. Google announced its latest model, Gemini 3, last month.
Alphabet’s stock price is up more than 60% this year, outperforming all of its megacap peers.
As a historical hotbed of engineering and innovation, Google has long been a place where competitors have turned to try and poach talent. That’s still the case.
Earlier this year, Microsoft hired around two dozen employees from Google’s DeepMind AI research lab, CNBC reported in July. OpenAI, meanwhile, has opened its wallets wide, along with Meta. OpenAI CEO Sam Altman told employees in June that Meta had been offering $100 million signing bonuses, and that he was aggressively trying to retain staffers.
Late last year, Google brought back a major figure in AI: Noam Shazeer.
Shazeer and Daniel De Freitas left Google in 2021 to start AI platform Character.AI, reportedly departing after Google rebuffed their attempts to try and get the company to push its internal chatbot forward.
Along with other members of the Character.AI research team, Shazeer and De Freitas rejoined DeepMind in August 2024 under a licensing deal for the startup’s technology.
Over the last year, Google has taken more risks, shipping products more quickly, even if they aren’t viewed as completely ready. Google has also made a companywide effort to remove bureaucracy, enacting widespread employee buyouts and eliminating more than one-third of its managers overseeing small teams, CNBC reported in August.
Google co-founder Sergey Brin, who came out of retirement in 2023, has at times personally reached out to prospective candidates to recruit them, according to people familiar with the matter who asked not to be named because they weren’t authorized to speak to the media. Meta CEO Mark Zuckerberg has also reportedly reached out to researchers on behalf of his company.
The companies said the deal is an expansion of their existing strategic partnership and will deepen their engineering collaboration.
Palo Alto Networks is now using Google’s Gemini artificial intelligence models to power its copilots, and it is also using Google Cloud’s Vertex AI platform, according to a release.
“Every board is asking how to harness AI’s power without exposing the business to new threats,” BJ Jenkins, president of Palo Alto Networks, said in a statement. “This partnership answers that question.”
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Palo Alto Networks, which offers a range of cybersecurity products, already has more than 75 joint integrations with Google Cloud and has completed $2 billion in sales through the Google Cloud Marketplace.
As part of the new phase of the partnership, Palo Alto Networks customers will be able to protect live AI workloads and data on Google Cloud, maintain security policies, accelerate Google Cloud adoption and simplify and unify their security solutions, the companies said.
Shares of Palo Alto Networks were up 1% on Friday. Google shares were mostly flat.
“This latest expansion of our partnership will ensure that our joint customers have access to the right solutions to secure their most critical AI infrastructure and develop new AI agents with security built in from the start,” Google Cloud President Matt Renner said in a statement.