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While short-term rallies are in place for AAPL and TSLA, they are both challenged longer term from a technical perspective. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.
Persons: Tesla, Elon Musk, TSLA, AAPL, Katie Stockton Organizations: Apple Inc, Tesla Inc, Fairlead, CNBC Pro, Securities
Tim Cook, chief executive officer of Apple Inc., center, arrives at Apple Developer Academy at Binus University in Tangerang, Banten, Indonesia, on Wednesday, April 17, 2024. Apple's Tim Cook is in Singapore for the latest leg of his whirlwind tour around Southeast Asia as the CEO pivots toward the region for expansion and sales growth amid struggles in China. Cook's arrival in the city follows Apple's announcement of plans to invest over $250 million into its operations in Singapore. While the tech giant already employs 3,600 people in the country, Apple said the expansion will provide space for new roles, including in artificial intelligence. Apple did not immediately respond to a CNBC request for comment about Cook's itinerary.
Persons: Tim Cook, Apple's Tim Cook, Cook, Cook's, Lawrence Wong, Lee Hsien Loong, Lee, Wong, Apple, Joko Widodo Organizations: Apple Inc, Apple Developer Academy, Binus University, Bloomberg, Apple, CNBC Locations: Tangerang, Banten, Indonesia, Singapore, Southeast Asia, China, state's, Cupertino , California, Vietnam
How India is challenging China as Asia's tech powerhouse
  + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +30 min
New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?
Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany
SHANGHAI, CHINA - MARCH 21: Tim Cook, chief executive officer of Apple Inc., arrives for opening ceremony of the new Apple Jing'an store on March 21, 2024 in Shanghai, China. The new Apple store opens on March 21 in Shanghai's Jing'an district. (Photo by VCG/VCG via Getty Images)Apple could double down on the China smartphone market amid declining iPhone sales and stiff competition in the country, Wedbush Securities said on Monday. Apple needs to overcome its China challenges including a tough macro environment and competition from Huawei before the iPhone 16 release and "it all starts with reaffirming Apple's presence in China," Wedbush said. Cook's latest trip to China, which Wedbush said is "a sign Apple could double down" on China, comes amid reports of iPhone sales in China plunging 24% in the first six weeks of 2024.
Persons: Tim Cook, Wedbush, Commerce Wang Wentao, Cook Organizations: Apple Inc, Apple, Getty, Securities, Huawei, China's, Commerce, China Development Forum Locations: SHANGHAI, CHINA, Shanghai, China, Shanghai's Jing'an, Beijing
Tim Cook, chief executive officer of Apple Inc., speaks during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 6, 2022. Apple has reached a $490 million settlement to resolve a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the U.S. District Court in Oakland, California, and requires approval by U.S. District Judge Yvonne Gonzalez Rogers. Apple posted $97 billion of net income in its latest fiscal year, and its payout equals a little under two days of profit. The case is In re Apple Inc Securities Litigation, U.S. District Court, Northern District of California, No.
Persons: Tim Cook, Yvonne Gonzalez Rogers, Cook, Shawn Williams, Rogers, Apple Organizations: Apple Inc, Apple Worldwide, Apple, U.S, Norfolk Pension Fund, Apple Inc Securities Litigation, Court, Northern District of Locations: Cupertino , California, China, Oakland , California, Brazil, India, Russia, Turkey, Norfolk, Norwich, England, Northern District, Northern District of California
IPhone users in the European Union will be able to download apps from websites, instead of through the App Store or a competing app store app, Apple said, in the the latest change forced by the European Commission's Digital Markets Act. Tuesday's announcement is the latest example of the Digital Markets Act forcing Apple to make long-resisted changes to its App Store business processes. Under the DMA, Apple has been forced to allow third-party app stores in Europe, has reinstated antitrust adversary Epic Games' developer account amid a legal dispute, and has backtracked on banning web app shortcuts on the main iPhone screen. Apple still plans to charge a fee of fifty Euro cents for app downloads outside of its App Store, including web app downloads. The company has said Europe represents about 7% of Apple's App Store revenue.
Persons: Tim Cook, Apple, Margrethe Vestager, Vestager Organizations: Apple Inc, Apple Worldwide Developers, European Union, Commission's, Apple, Digital, Epic Games, Commission, European Commission, Spotify, EU, CNBC Locations: San Jose , California, U.S, European, Europe, iPhones
Scott Mlyn | CNBCDETROIT — General Motors is reducing the price of its new Chevrolet Blazer EV by thousands of dollars as it restarts sales of the vehicle Friday following an 11-week stoppage to address software issues. Current 2024 Blazer EV models will start at $50,195, or $6,520 less than when it first went on sale in August. "There is not this singular, predominant root cause that causes all of these issues," Cetinok told CNBC during an interview. Still no Apple CarPlayIn addition to fixing the software issues, GM added or changed some features following early customer feedback. More expensive "RS" models of the Blazer EV will be reduced by $5,620 to starting prices of $54,595 for all-wheel drive, or $56,170 for rear-wheel drive.
Persons: Scott Mlyn, Baris, Cetinok, Price Organizations: Electric, CNBC DETROIT —, Motors, Chevrolet, GM, CNBC, Apple, Blazer SS EV, Android Auto, Blazer, Apple Inc
Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data. 8The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The early amycretin data marks a fresh milestone for Novo Nordisk, potentially offering a more effective and less intrusive alternative to its already widely successful injection-based Wegovy and Ozempic drugs. Wegovy showed weight loss of 6% in a 12-week trial, while Ozempic is a diabetes treatment.
Persons: Liselotte Sabroe, Eli Lilly, amycretin, Martin Holst Lange, Lange Organizations: AFP, Getty, Novo Nordisk, Tesla, Microsoft Corp MSFT, Apple Inc, AAPL, NVIDIA Corp NVDA Technology, Saudi Aramco, SA Energy, Inc, AMZN Consumer, GOOGL, Berkshire Hathaway BRK.B, Company LLY Healthcare, Broadcom Inc, AVGO Technology, Taiwan Semiconductor TSM, Novo Nordisk NVO, Finance, JPMorgan Chase JPM, Reuters Locations: Bagsvaerd, Copenhagen, Denmark, Danish, London, Saudi, Mar, Europe
The cup-and-handle (also known as a cup-with-handle) pattern occurs when you have a rounded basing pattern after a rally phase. Then, in December 2023, both stocks retested their July peak, which formed the cup of this pattern. If this level would fail to hold, then we'll have one more Magnificent 7 stock in a confirmed bearish phase. What concerns me most about these patterns popping up is not just that it suggests caution for these two technology stocks, which I believe it does. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: MCHP, David Keller Organizations: Nvidia Corp, Tesla Inc, Apple Inc, Apple, Technology Inc, Technology, David Keller https
BANGKOK (AP) — A Nasdaq-listed Chinese technology company that makes parts for self-driving vehicles is threatening to sue the U.S. government after it was included in a list of companies the Pentagon says have links to the Chinese military. It was among 17 companies the U.S. Department of Defense recently added to its list of companies it considers “Chinese military companies.”The revised list also includes Megvii, a Beijing-based artificial intelligence company and IDG Capital, a major private equity investment company with holdings in many Chinese technology companies, and major Chinese energy, telecoms and aviation companies. In a statement issued last week, the company said its LiDARs were not designed to conform to military specifications. Under Biden, the U.S. has further limited China’s access to advanced U.S. technology, limited U.S. investments in strategically sensitive Chinese industries and expanded sanctions on leading Chinese companies like Huawei Technologies. The Defense Department periodically updates its list of now nearly four dozen Chinese military companies to counter links between Chinese military and companies and other entities that it says appear to be civilian.
Persons: Yifan “ David ” Li, Li, Joe Biden’s, Donald Trump, Biden, China’s Organizations: Pentagon, U.S . Department of Defense, IDG Capital, U.S . Department of Commerce, Beijing, Huawei Technologies, The Defense Department, Xiaomi Corp, Apple Inc, U.S ., China’s People’s Liberation Army Locations: BANGKOK, Beijing, U.S
BENGALURU, India (AP) — Microsoft CEO Satya Nadella urged in a speech to more than a thousand Indian computer code developers on Thursday that they use the company's artificial intelligence tools being deployed across its products. Nadella said Microsoft Corp. expects that use of AI can help achieve 10%, or $500 billion, of India’s GDP target for 2025. Microsoft is building its fourth data center in India near the city of Hyderabad, where Nadella grew up. Nadella boasted in a speech in Mumbai on Wednesday that his company is still ahead on most benchmarks. Indian Prime Minister Narendra Modi met with Nadella during a visit to the U.S. last June.
Persons: Satya Nadella, ” Nadella, Nadella, , “ We’re, It’ll, Narendra Modi, ___ O'Brien Organizations: Microsoft Corp, Microsoft, Hyderabad, OpenAI, Google, Nadella, Apple Inc, Microsoft's, Indian, U.S Locations: BENGALURU, India, Bengaluru, Silicon, United States, Hyderabad, Mumbai, Pune, Chennai, Nadella, Microsoft's India, Providence , Rhode Island
5 huge challenges facing Apple this year
  + stars: | 2024-01-25 | by ( Samantha Murphy Kelly | ) edition.cnn.com   time to read: +9 min
Behind in generative AI. A recent Reuters report noted iPhone sales in China dropped 30% in the first week of the year amid pressure from rival Huawei. Still, Barclays downgraded Apple stock earlier this month citing disappointing iPhone 15 sales in China and softening demand for the latest iPhone. Apple also faces challenges around the upcoming rollout of the Vision Pro headset, which will be its riskiest product launch in years. Tim Cook, chief executive officer of Apple Inc., speaks during a launch event for the new Apple iPhone 15 at Apple Park in Cupertino, California, on September 12, 2023.
Persons: , David McQueen, ALY, Dan Ives, Apple, Justin Sullivan, Jitesh, IDC –, that’s, It’s, Siri, McQueen, , Ming Yeung, Tim Cook, Nic Coury, hasn’t, Brian Fung, Clare Duffy Organizations: CNN, Microsoft, Apple, ABI Research, Huawei, Reuters, Apple Watch, International Trade Commission, IDC, Meta, Google, Samsung, Mac, Barclays, Apple Inc, Getty, EU, Markets, Epic Locations: China, Shanghai, Cupertino , California, Milan, Italy, AFP
Here are Tuesday's biggest calls on Wall Street: Cantor Fitzgerald initiates Nvidia as buy Cantor said in its initiation of Nvidia that the stock is a top pick at the firm. Bank of America adds Apple to the US1 list Bank of America added the stock to its top picks list. TD Cowen upgrades Exxon to outperform from market perform TD says shares of Exxon are "compelling." Oppenheimer initiates Flywire as outperform Oppenheimer initiated the payments company with an outperform rating and said Flywire is a growth stock. Guggenheim reiterates Tesla as sell Guggenheim says it's sticking with its sell rating on Tesla heading into earnings on Wednesday.
Persons: Cantor Fitzgerald, Cantor, it's, TD Cowen, Wells, Jefferies, Enphase, Goldman Sachs, Goldman, JMP, SIRI, Oppenheimer, Flywire, JPM, Philip Morris, Morgan Stanley, Evercore, Guggenheim, Tesla, Roth, Boston Beer, Stephens Organizations: Nvidia, Citi, Meta, Bank of America, Apple, Apple Inc, Chevron, Exxon, ENPH, JPMorgan, NRG Energy, Liberty, Liberty Media, Brands, UBS, Duke Energy, AEP, Guggenheim, Boston Beer, Boston Locations: North Carolina, underperform, OW
Preorders for Apple 's $3,499 Vision Pro headset began Thursday morning ahead of its U.S. release on Feb. 2. The Vision Pro is Apple's first new product category since it released the Apple Watch in 2015. Wall Street doesn't expect Apple to sell it in the same quantities as it does its other products, like the iPhone, Apple Watch and Mac, at least not at first. UBS' David Vogt estimates Apple could generate about $1.4 billion in revenue from the Vision Pro in 2024, assuming Apple ships about 400,000 handsets. The entry-level Vision Pro comes with 256GB of storage and the same M2 chip that Apple includes in some of its Macs.
Persons: Morgan Stanley, Erik Woodring, David Vogt, Apple's Organizations: Apple, Apple Watch, UBS, Vision, Worldwide Developers
Apple will remove the blood oxygen feature from its latest Apple Watches, a move that will allow the company to continue importing and selling the devices in the U.S. as it battles with Masimo in court. Modified versions of the Apple Watch Series 9 and Ultra 2 will go on sale Thursday, Apple said in a statement. "These steps include introducing a version of Apple Watch Series 9 and Apple Watch Ultra 2 in the United States without the Blood Oxygen feature. There is no impact to Apple Watch units previously purchased that include the Blood Oxygen feature." WATCH: Apple again banned from selling watches in U.S. with blood oxygen sensor
Persons: Masimo, Apple Organizations: Apple Inc, Apple, Steve Jobs, International Trade Commission, ITC, Apple Watch, CNBC Locations: Cupertino , California, U.S, United States
Apple changed the rules of its U.S. App Store on Tuesday in what appears to be the final result from the long-running Epic Games antitrust challenge against Apple. The shift is the most tangible result from Epic Games' legal challenge to the App Store. However, it doesn't go far enough for Epic Games CEO Tim Sweeney, he said in a statement on Tuesday. "The court battle to open iOS to competing stores and payments is lost in the United States," Epic Games CEO Tim Sweeney said. You will be responsible for addressing such issues with customers," Apple said in the email.
Persons: Tim Cook, Apple, Tim Sweeney, Sweeney Organizations: Apple Inc, Apple Worldwide Developers, Apple, U.S, Supreme, Epic Games, Epic Locations: San Jose , California, U.S, United States, Netherlands, South Korea
Apple and Nvidia are "own, don't trade" stocks, so should they be kept as they are, or shrink down? First, let's address our idea of "own, don't trade" stocks. To main a diversified portfolio, we don't want any of our positions, even Apple, to get much bigger than 5-6%. That doesn't mean we don't love the name or no longer view it as an "own, don't trade," it simply means that while it is an "own, don't trade" we also still abide by the view that discipline trumps conviction (diversification and not don't be greedy being the two disciplines of focus in this case) and that overrides the own, don't trade mantra. When we say "don't trade" these two names, we stay invested in both and don't try to catch the next 10% move up or down.
Persons: Jim Cramer, Eli Lilly, Jennie, Nvidia —, Nvidia wasn't, Jim Cramer's, Jim, SeongJoon Cho Organizations: Nvidia, Broadcom, Costco, Apple, Federal Reserve, Jim Cramer's Charitable, CNBC, Apple Inc, Bloomberg, Getty Locations: Hanam, South Korea
However, the reason Apple is designated an "own it, don't trade" stock is because near-term catalysts are less important than the longer-term trajectory. If 2023 taught us anything it's that the stock market will always surprise you. We think the best approach is to not worry too much about quarterly dynamics, and focus on the longer-term drivers of Apple stock. 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.
Persons: Jim Cramer, Dave You, that's, Siri, it's, you've, Jim Cramer's, Jim, SeongJoon Cho Organizations: Club, Apple, EU, Nvidia, Apple Watch, Services, Apple Care, Jim Cramer's Charitable, CNBC, Apple Inc, Bloomberg, Getty Locations: spurts, India, Hanam, South Korea
Tech giants lead surge in global mega-caps as inflation eases
  + stars: | 2023-12-01 | by ( ) www.reuters.com   time to read: +2 min
Apple Inc's (AAPL.O) market value jumped 11.2% to $2.95 trillion over the past month, while Microsoft Corp (MSFT.O) saw a 12.1% increase in its market cap, reaching $2.8 trillion. Reuters Graphics Reuters GraphicsNvidia Corp's (NVDA.O) market cap soared 14.7% to $1.15 trillion, following its announcement of a 206% year-over-year revenue increase to $18.1 billion in the third quarter. JPMorgan Chase & Co (JPM.N) saw its market cap increase by 12.2% to $451 billion by the end of November. In other sectors, Tesla Inc's (TSLA.O) market value rose nearly 20% to $763.2 billion last month, following a price hike for its Model 3 and Y vehicles in China. Saudi Arabian Oil Co (2222.SE) and Exxon Mobil Corp (XOM.N) saw market caps fall by 0.3% and 2.9%, respectively.
Persons: Mike Segar, Tesla, Patturaja Murugaboopathy, Gaurav Dogra, Kim Coghill Organizations: Apple Inc, Apple, REUTERS, Microsoft Corp, Reuters Graphics Reuters, Nvidia, JPMorgan Chase &, Rho, Saudi Arabian Oil Co, Exxon Mobil Corp, Thomson Locations: Manhattan , New York, U.S, China, Saudi, Bengaluru
UK antitrust regulator wins appeal over Apple probe
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +2 min
The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Nov 30 (Reuters) - Britain's antitrust regulator can investigate Apple's (AAPL.O) mobile browser and cloud gaming services, London's Court of Appeal ruled on Thursday, overturning a lower court decision the watchdog said could undermine its power to launch probes. The Competition and Markets Authority (CMA) opened a full investigation last year into the dominance of Apple and Alphabet Inc's Google (GOOGL.O) in mobile browsers. The Competition Appeal Tribunal (CAT) ruled in Apple's favour in March, but the Court of Appeal upheld the CMA's appeal on Thursday. The CMA said its investigation is on hold pending any application for permission to appeal to the Supreme Court.
Persons: Mike Segar, Judge Nicholas Green, Green, Sarah Cardell, Sam Tobin, Michael Holden, Jane Merriman Organizations: Apple Inc, Apple, REUTERS, London's, Markets Authority, CMA, Google, CAT, Supreme, Thomson Locations: Manhattan , New York, U.S, Apple's
Apple has released a list of the 10 most popular podcasts of 2023. Apple shared a roundup on Tuesday of the most popular podcasts of 2023. But today, we will be focusing on the top 10 podcasts overall, according to Apple. Denise Truscello"Stuff You Should Know" will, according to Apple Podcasts, teach you everything you need to know about science, history, religion, crime, and more. It is the top health and fitness-related podcast on Apple Podcasts and Spotify, according to the podcast's website.
Persons: Apple, , Josh Clark, Chuck Bryant, Denise Truscello, Clark, Byrant, Shankar Vedantam, Chance Yeh, Andrew Huberman, Mark Zuckerberg, Priscilla Chan, Drew Angerer, Alaina Urquhart, Ash Kelley, Urquhart, Kelley, Glass, Astrid Stawiarz, Ira Glass, Chicago that's, Jason Bateman, Will Arnett, Sean Hayes, Frazer Harrison, Manny Carabel, Amy Sussman, Getty, Ryan Reynolds, Jennifer Aniston, Will Ferrell, Adam Sandler, Gary Hershorn, It's, Michael Barbaro, Sabrina Tavernise, Ashley Flowers, Audiochuck, Brit Prawat Organizations: Apple, Service, SYSK, NPR, The Washington Post, National Public, Public Radio Exchange, Getty, NBC NBC Dateline, NBC, Nielsen Media Research, The New York Times Locations: Stanford, Boston
REUTERS/Mike Segar/File Photo Acquire Licensing RightsBEIJING, Nov 23 (Reuters) - Apple (AAPL.O) saw a decline in the number of smartphones sold during China's recent Singles Day shopping festival, data from Counterpoint Research showed, lagging domestic rivals Huawei and Xiaomi which recorded robust increases. The number of Apple smartphones sold declined 4% year-on-year during the two-week sales from Oct. 30 to Nov. 12, the research consultancy said on Thursday. In comparison, the number of units sold by Huawei (HWT.UL) and Xiaomi (1810.HK) grew 66% and 28% respectively year-on-year over the same period. The increases for Huawei and Xiaomi helped fuel a 5% year-over-year rise in the overall number of Chinese smartphones sold during the promotion period, it said. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Yelin Mo and Brenda Goh; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Mike Segar, China's, JD.com, Xiaomi, Lei Jun, Ivan Lam, Yelin Mo, Brenda Goh, Miral Organizations: Apple Inc, Apple, REUTERS, Rights, Counterpoint Research, Huawei, HK, IDC, Thomson Locations: Manhattan , New York, U.S, Rights BEIJING, China, United States
AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. "As European digital industry representatives, we see a huge opportunity in foundation models, and new innovative players emerging in this space, many of them born here in Europe. The signatories, who said just 3% of the world's AI unicorns come from the European Union, backed a joint proposal by France, Germany and Italy to limit the scope of AI rules for foundation models to transparency requirements. They also said the current broad scope of the draft AI rules could clash with existing legislation in certain sectors such as healthcare. The companies also rebuffed calls from creative industries for the AI rules to tackle copyright issues.
Persons: Dado Ruvic, DigitalEurope, Georgina Prodhan, Foo Yun Chee, Sharon Singleton Organizations: REUTERS, Rights, Airbus, European Union, Apple, Ericsson, Google, LSE, SAP, Siemens, Thomson Locations: BRUSSELS, Europe, France, Germany, Italy
OpenAI and Altman did not reply to requests for comment. Kholsa Ventures, an early backer of OpenAI, wants Altman back at OpenAI but "will back him in whatever he does next," the fund's founder Vinod Khosla posted on X on Saturday. Others expressed support for joining Altman in starting a company, a third person familiar with the matter said. Tech website The Verge earlier reported the OpenAI board's discussions with Altman to return as CEO. Forbes reported on Saturday investors were plotting to restore Altman as CEO.
Persons: Sam Altman, Altman, Vinod Khosla, Altman's, Elon Musk, Greg Brockman, OpenAI, Brockman, Szymon Sidor, Sidor, Jony, SoftBank, Masayoshi Son, Brad Lightcap, Forbes, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li, William Mallard Organizations: Microsoft, Kholsa Ventures, Union, U.S, Altman, Reuters . Tech, Thomson Locations: OpenAI, New York, San Francisco, Gursimran Kaur, Bengaluru
Companies Openai LLC FollowApple Inc FollowMicrosoft Corp Follow Show more companiesNov 18 (Reuters) - Sam Altman, the recently ousted CEO of OpenAI, has been working on a new artificial intelligence venture he is planning to launch, sources briefed on the plan said on Saturday. Altman could not be reached for comment and Brockman did not immediately respond to a Reuters request for comment. Some researchers at OpenAI, including Szymon Sidor, have quit the company over the CEO change but it was unclear if Sidor and others will join Altman's new venture. The board of OpenAI, the company behind hit product ChatGPT, on Friday pushed out its high-profile CEO Altman. Co-founder Brockman quit shortly after Altman was fired.
Persons: Sam Altman, Greg Brockman, OpenAI, Altman, Brockman, Szymon Sidor, Sidor, Jony, Masayoshi Son, Altman's, Brad Lightcap, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li Organizations: Microsoft, Reuters, Thomson Locations: New York, San Francisco, Gursimran Kaur, Bengaluru
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