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☆ Google Unveils A.I. for Predicting Behavior of Human Molecules
▼ + stars: | 2024-05-08 | by ( Cade Metz | More About Cade Metz | ) www.nytimes.com time to read: +1 min

Artificial intelligence is giving machines the power to generate videos, write computer code and even carry on a conversation. It is also accelerating efforts to understand the human body and fight disease. An early version of AlphaFold, released in 2020, solved a puzzle that had bedeviled scientists for more than 50 years. It was called “the protein folding problem.”Proteins are the microscopic molecules that drive the behavior of all living things. These molecules begin as strings of chemical compounds before twisting and folding into three-dimensional shapes that define how they interact with other microscopic mechanisms in the body.

Organizations: Google

☆ Definely, a London legal tech startup founded by a blind lawyer, just raised $7 million with this 10-slide pitch deck
▼ + stars: | 2024-05-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDefinely, a London-based legal tech startup, has raised $7 million in Series A funding, the company said Wednesday. Founded in 2020 by former colleagues at a Magic Circle law firm, Definely is a subscription product that helps lawyers read, edit, and draft legal documents through a plug-in. Currently available through Microsoft Word, Definely uses artificial intelligence, including natural language processing, to make cross-referencing documents easier for legal professionals. Reading legal documents can be a lengthy and complex task with phrases and terminology often scattered between different sections of contracts.

Persons: —, Nnamdi Emelifeonwu, MacDaeid, Emelifeonwu, Definely Organizations: Service, Microsoft, Business, Octopus Ventures, Cornerstone VC, Zrosk Investment, Google, Atlantic Locations: London

☆ AI needs to keep cool—literally. That's driving demand for these infrastructure companies
▼ + stars: | 2024-05-08 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The advent of artificial intelligence has sent demand for data centers skyrocketing, along with industrial components to keep all the AI chips from overheating. "The key for chipmakers with AI ambitions is keeping data centers cool," Melius Research analyst Jake Levinson told CNBC. Levinson said cooling technologies manufacturers Carrier Global , Trane Technologies and Johnson Controls are all seeing higher demand for HVACs. Then there are the companies that create the infrastructure used to regulate temperature – from Parker-Hannafin's fluid connectors to Dover's industrial-style pumps used in liquid cooling. "We're having to challenge ourselves and how we support that capacity growth," CEO Scott Strazik told CNBC after the company posted first-quarter earnings last month.

Persons: Jake Levinson, Levinson, DOV, Stephen Volkmann, Volkmann, Scott Strazik, He's, I've, we've Organizations: CNBC, Carrier Global, Trane Technologies, Johnson, Jefferies, Caterpillar, Cummins, GE Vernova, GE Locations: Parker

☆ Microsoft made an AI model for spies that's not connected to the internet
▼ + stars: | 2024-05-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Microsoft has developed a secret AI model exclusively for US spy agencies, Bloomberg reported. It's part of a broader effort by intelligence agencies to use AI for more efficient data handling. AdvertisementMicrosoft created a secret AI model for US spy agencies that is not connected to the internet. It is yet to be tested and accredited by the intelligence agencies. Intelligence agencies have long wanted to use AI to handle data more efficiently.

Persons: —, William Chappell, Chappell, Dennis J, Gleeson, Jr, Sheetal Patel, CIA didn't Organizations: Microsoft, Bloomberg, Service, CIA, Transnational, Technology Mission Center, Intelligence, of National Intelligence, AIM Initiative, Business

☆ U.S. eyes curbs on China's access to AI software behind apps like ChatGPT
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +3 min

The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said. The Commerce Department is considering a new regulatory push to restrict the export of proprietary or closed source AI models, whose software and the data it is trained on are kept under wraps, three people familiar with the matter said. Currently, nothing is stopping U.S. AI giants like Microsoft -backed OpenAI, Alphabet's Google DeepMind and rival Anthropic, which have developed some of the most powerful closed source AI models, from selling them to almost anyone in the world without government oversight. When that level is reached, a developer must report its AI model development plans and provide test results to the Commerce Department. That computing power threshold could become the basis for determining what AI models would be subject to export restrictions, according to two U.S. officials and another source briefed on the discussions.

Persons: Biden, Peter Harrell Organizations: 14th China, Public Safety, China International Exhibition Center, The Commerce Department, Commerce Department, Embassy, Microsoft, Google, Government, National Security Council Locations: Beijing, China, Washington, U.S

☆ Top minds at Milken unveil what they're seeing under the surface of the US economy as the national debt burden rises to nauseating levels
▼ + stars: | 2024-05-08 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

For the 27th straight year, some of the brightest minds from across the business world descended on Beverly Hills in early May to attend the Milken Institute Global Conference. But while speculation stole headlines, Milken speakers spent much of their time fixated on the state of the US economy. But despite continued concerns about stagflation, Milken speakers overwhelmingly expressed confidence about economic growth at a May 6 session called "Global Markets at Inflection." "The economy is still extremely strong, consumers are still doing really well, businesses are still doing really well," Scharf said. Though far from perfect, the US is still the best place to investDespite the $34.7 trillion anvil hanging over the economy, Milken speakers widely agreed that the US is still the best place to invest and operate a company.

Persons: Elon Musk, he's, Milken, Wells, Franklin Templeton, Gerard Baker, Andre Esteves, Jenny Johnson, Charlie Scharf, Scharf, we've, it's, you've, hasn't, Sam, Joshua Friedman, Anne Walsh, Friedman, Esteves, they've, Johnson, " Scharf, Wells Fargo Organizations: Milken Institute Global, SpaceX, Business, Milken, The, Consumers, Starbucks, Canyon Partners, Investors, Guggenheim Investments, Milken Institute Global Conference, US Locations: Beverly Hills, Wells Fargo, Brazil, McDonald's, Washington

☆ FTX says most customers of the bankrupt crypto exchange will get all their money back
▼ + stars: | 2024-05-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. Almost all customers of collapsed cryptocurrency exchange FTX will get their money back — and more, according to a court filing. FTX's high-profile founder Sam Bankman-Fried was convicted of seven criminal counts in early November, including charges related to stealing billions of dollars from FTX's customers. FTX had to find other ways to raise money because it has large sum of cryptocurrency missing from the exchange. Instead, the Debtors have had to look to other sources of recoverable value to repay creditors," FTX said in a press release on Wednesday.

Persons: Sam Bankman, FTX, Fried, Bitcoin, John Ray III, Ray, — CNBC's MacKenzie Sigalos Organizations: Amazon, FTX Locations: New York, Alameda, Bankman, Anthropic

CNN —The world has passed a clean energy milestone, as a boom in wind and solar meant a record-breaking 30% of the world’s electricity was produced by renewables last year, new data shows. The planet is reaching “a crucial turning point” toward clean energy, according to the Global Electricity Review published Wednesday by climate think tank Ember. Record-breaking renewablesIn 2000, renewables made up less than 19% of the global energy mix. It made up nearly twice as much new electricity generation as coal last year. Electricity demand is set to soar from 2024 onward, Ember’s analysis found.

Persons: It’s, Dave Jones, Ember, ” Jones, “ We’re, Jones, “, ”, Niklas Höhne, Nancy Haegel Organizations: CNN, Global, NewClimate Institute, European Union, EU, National Renewable Energy Laboratory Locations: China, India, Chile, Australia, Netherlands, California, United States

☆ EU seeks information from X on content moderation amid first major probe under new tech rules
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The European Union is seeking information from social media platform X about cuts to its content moderation resources as part of its first major investigation into the company under its tough new laws governing online content. X reduced linguistic coverage within the EU from 11 languages to seven, the Commission said, again citing X's transparency report. X, which was formerly known as Twitter, was not immediately available for comment when contacted by CNBC. X must provide information requested by the EU on its content moderation resources and generative AI requested by May 17, the Commission said. Remaining answers to questions from the Commission must be provided no later than May 27, the agency said.

Persons: it's Organizations: European, European Commission, Digital Services, Twitter, CNBC, EU Locations: EU

☆ Young workers say working 4 days a week would actually make them better employees
▼ + stars: | 2024-05-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

AdvertisementYoung professionals said they don't need 40 hours a week to get their work done. In fact, 81% of respondents said working one less day a week would improve their company's productivity. This story is available exclusively to Business Insider subscribers. AdvertisementA police department in Colorado moved workers from 40 to 32 hours a week in July 2023 and reported "fantastic" initial results months later. One alternative: a four-and-a-half day week.

Persons: —, They're, Bill Gates, that's, Gates, Trevor Noah's, Binny Gill Organizations: Service, CNBC, Generation, Business, CNN, Billionaire Microsoft, Technologies Locations: Dominican Republic, Colorado

☆ Eric Schmidt shares 4 reasons why China is behind the US in AI
▼ + stars: | 2024-05-08 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Former Google CEO Eric Schmidt said the US is "way ahead of China" in AI development. Schmidt cited chip shortages and more English language material to train AI models. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer Google CEO Eric Schmidt thinks the US is "way ahead of China" when it comes to AI. Following his departure, Schmidt has invested in various AI companies, including Anthropic.

Persons: Eric Schmidt, Schmidt, — Organizations: Google, Service, Bloomberg, Department of Defense's Innovation, National Security, Artificial Intelligence, Business Locations: China

☆ Google employees question execs over 'decline in morale' after blowout earnings
▼ + stars: | 2024-05-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +8 min

"How does leadership plan to address these concerns and regain the trust, morale and cohesion that have been foundational to our company's success?" "Despite the company's stellar performance and record earnings, many Googlers have not received meaningful compensation increases" a top-rated employee question read. Google's use of cashThere were a lot of employee questions ahead of last week's meeting directed at the company's buyback, Porat said. With respect to the decline in morale brought up by employees, Pichai said "leadership has a lot of responsibility here, adding that "it's an iterative process." CNBC reported last week that Google is laying off at least 200 employees from its "Core" organization, which includes key teams and engineering talent.

Persons: Sundar Pichai, Loren Elliott, Ruth Porat, We've, Alphabet's, Hollie Adams, Porat, Prabhakar Raghavan, dory, Pichai, Ted, Larry Page, Jim Cramer Organizations: Inc, Government, Society, Bloomberg, Getty, Google, Economic, Finance, CNBC Locations: Stanford , California, Davos, Switzerland, U.S

☆ We're exiting a troubled drugmaker and putting the cash into 2 health-care stocks with brighter outlooks
▼ + stars: | 2024-05-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

We are exiting our position in Bausch Health , selling 2,930 shares at roughly $7.13. In addition, are buying 95 shares of Abbott Laboratories at roughly $104.53 and 125 shares of GE Healthcare at roughly $81. And we are still buying into weakness because shares of Abbott and GE Healthcare are down over the past month. Shares of Abbott have been in the doghouse since March due to litigation concerns for its baby formula business. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Bausch, It's, Jim Cramer, Amneal, Abbott, Johnson, it's, GE Healthcare's, Jim Organizations: Bausch Health, Abbott Laboratories, GE Healthcare, ABT, GEHC, Amneal Pharmaceuticals, Abbott, Johnson, GE, Electric, Disney, Wynn Resorts, WYNN, CNBC Locations: BHC, Bausch's, China, U.S, Bausch

☆ 3 reasons why Wall Street is playing Roblox again
▼ + stars: | 2024-05-08 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —Many adults heard the phrase “Robux” for the first time last holiday season when the virtual currency of gaming platform Roblox landed on the top of most wish lists. And it will have to prove to Wall Street there’s more growth up ahead. In its fourth quarter of 2023, Roblox revenue was $750 million, up 30% year-over-year – but had a net loss of $323.7 million. Like Fortnite, Roblox is also moving ahead with a“payout to creators” business model. “It’s clear that [Roblox] intends to go after younger gamers in 2024 and 2025,” Ward said.

Persons: ”, Roblox, Matilda Beinat, Lindsey Nicholson, UCG, David Baszucki, Ralph Lauren, Mike Proulx, Forrester, “, ” Proulx, Michael Nagle, ” Beinat, Lewis Ward, ” Ward, Ward Organizations: CNN, Investors, ABI Research, “, Gaming Center, Costco, Brookhaven RP, Nike, Walmart, New York Stock Exchange, Bloomberg, Getty, Apple’s, IDC, Disney, Pixar, Marvel, Star Wars Locations: Asia, Roblox, New York, Fortnite

☆ Generative AI is speeding up human-like robot development. What that means for jobs
▼ + stars: | 2024-05-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — ChatGPT-like artificial intelligence is speeding up research and bringing humanoid robots closer to reality in China, home to many of the world's factories. What's changed with the emergence of OpenAI's ChatGPT chatbot is the ability of AI to better understand and generate content in a human-like way. While the U.S.-based tech is not officially available in China, local companies such as Baidu have released similar chatbots and AI models. In robotics, the development of generative AI can help machines with understanding and perceiving their environment, said Li Zhang, chief operating officer of Shenzhen-based LimX Dynamics. "It has accelerated our entire research and development cycle," he said.

Persons: What's, Li Zhang, Li Organizations: BEIJING, Baidu, Dynamics, CNBC Locations: China, U.S, Shenzhen

☆ Microsoft to build AI hub on previously-owned Foxconn land in Wisconsin
▼ + stars: | 2024-05-08 | by ( Samantha Murphy Kelly | Samantha Waldenberg | ) edition.cnn.com time to read: +3 min

CNN —Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence. The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft. In his remarks Wednesday, Biden plans to directly point his finger at Trump for the failed project, according to a White House official. The White House also introduced an order in 2023 to require AI system developers to share results of their safety tests with the federal government before they are released to the public. Beyond AI, Wisconsin is seeing a spate of funding toward futuristic industries.

Persons: Joe Biden, Trump, Satya Nadella, Biden, Microsoft’s Organizations: CNN, Microsoft, University of Wisconsin, University of Wisconsin -, Trump, White, Infrastructure Law, Badger Locations: Wisconsin, Mount Pleasant , Wisconsin, America, Milwaukee, University of Wisconsin - Milwaukee, United States, Racine –

☆ Big Tech is eating as much data as it can to win in AI — but it's not 'winner takes all,' CEO says
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.

Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, —, Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe

☆ These global tech stocks have beaten the S&P 500 this year — and analysts give them over 20% upside
▼ + stars: | 2024-05-08 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts. Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta , Alphabet and Amazon in particular having a strong showing over the past couple of weeks. Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector. Kevin Liu, managing director and strategist at CICC Research, said his conviction call would be a structural barbell allocation with themes including tech names "with high-end upgrading opportunities," among others. Stock screen Against this backdrop, CNBC Pro screened FactSet for stocks from four exchange-traded funds (KraneShares CSI China Internet ETF, Vanguard Information Technology ETF, Invesco China Technology ETF and the iShares MSCI China Multisector Tech ETF) to find stocks that: have beaten the S & P 500's around 9% year-to-date performance.

Persons: Bernstein, Kevin Liu Organizations: Dow Jones, Tech, UBS, CICC Research, CNBC Pro, CSI China Internet, Vanguard Information Technology, China Technology ETF, China Multisector Tech Locations: China

☆ Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds
▼ + stars: | 2024-05-08 | by ( Madeleine Ngo | ) www.nytimes.com time to read: +1 min

Billions in federal subsidies for semiconductor manufacturers are expected to help reverse a decades-long decline in America’s share of global chip manufacturing. As a result, America’s share of world chip manufacturing is expected to rise for the first time in decades, to 14 percent by 2032, up from about 10 percent today. The report found that much of the industry’s growth would be fueled by the bipartisan CHIPS Act, which gave the Commerce Department $39 billion to encourage semiconductor manufacturing in the United States. Absent that legislation, America’s share of global chip manufacturing would have fallen to 8 percent by 2032, according to the report. The United States is also expected to see a substantial boost in the domestic production of advanced logic chips, which are used in artificial intelligence, smartphones and autonomous vehicles.

Persons: Biden Organizations: Semiconductor Industry Association, Boston Consulting Group, Commerce Department Locations: United States

☆ Apple is reportedly developing chips to run artificial intelligence software in data centers
▼ + stars: | 2024-05-07 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Apple has been developing chips to run artificial intelligence software in data centers, the Wall Street Journal reported Tuesday. Project ACDC (Apple Chips in Data Center), which has been in the works for several years, has no clear timeline, WSJ reported, citing people familiar with the matter. WSJ said Apple's server chip will likely be focused on AI inference, rather than on training AI models — an area which experts have said will continue to be dominated by American chip giant Nvidia. In AI, inference is the process that trained machine learning models use to draw conclusions from brand-new data. Other large tech companies, such as Google, have invested in the development of their own AI inference server chips as part of efforts to untether themselves from chip designers.

Organizations: Apple, Wall Street, Data, Taiwan Semiconductor Manufacturing, Nvidia, Google Locations: American

☆ Eric Schmidt says China trails behind the US in AI for these 4 reasons
▼ + stars: | 2024-05-07 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Persons: Eric Schmidt, Schmidt, — Organizations: Google, Service, Bloomberg, Department of Defense's Innovation, National Security, Artificial Intelligence, Business Locations: China

☆ Apple investors get 2 new signs that the tech behemoth is taking AI more seriously
▼ + stars: | 2024-05-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

There's mounting evidence of how serious Apple is about artificial intelligence, Jim Cramer said Tuesday, pointing to a Wall Street Journal report about the tech giant developing AI data center chips. "This is the beginning of what I regard as the Apple offense on AI." He also reiterated his Apple stock mantra: "Own it, don't trade it." Following a 48% gain last year and an all-time just under $200 per share back in December, Apple shares fell on hard times. Jim suggested Tuesday that Apple investors will be rewarded for their patience once management fully unveils their forthcoming AI strategy.

Persons: Jim Cramer, Jim, Tim Cook Organizations: Wall, Apple, Data Centers, Taiwan Semiconductor Manufacturing, Big Tech, Developers Conference

☆ Billionaire investor Stanley Druckenmiller trimmed his Nvidia bet after huge gains, said AI is a 'little overhyped' at this point
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stanley Druckenmiller told CNBC he pared some of his Nvidia exposure in late March. The investor is confident in the stock's worth, but sees market enthusiasm in AI as overhyped for now. But AI will be a long-term play to pursue over the years, with a big payoff down the road. Nvidia, a semiconductor company, has become central to emerging AI technology,with most of the software run by the firm's chips. Over the past year Druckenmiller has also held exposure to AI large-caps such as Microsoft and Alphabet.

Persons: Stanley Druckenmiller, —, he's, ChatGPT, Druckenmiller, We've Organizations: CNBC, Nvidia, Service, Duquesne Family Office, Microsoft

☆ Katy Perry’s mom was fooled by AI images of the singer at the Met Gala
▼ + stars: | 2024-05-07 | by ( Marianne Garvey | ) edition.cnn.com time to read: 1 min

CNN —Katy Perry did not attend the Met Gala on Monday, but some of the singer’s fans – and even her mom – thought she did. Pictures of the singer seemingly taken at the event circulated on X, but they were created through artificial intelligence (AI). The fake photos included Perry dressed in looks that fit the Met Gala’s garden theme this year. Perry also included a text from her mom, who complimented her on her gown. Her mom wrote, “Ha Feather!

Persons: Katy Perry, Perry, “, ”, ” Perry Organizations: CNN

☆ Food startup Hungryroot uses AI to reduce waste, a major climate offender
▼ + stars: | 2024-05-07 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Food waste is so prolific in the U.S. that roughly one-third of the amount produced ends up in landfills rather than stomachs. A recent study published in the journal Science found food production accounts for 26% of global greenhouse gas emissions. Food delivery services like HelloFresh, Blue Apron and EveryPlate reduce that somewhat by sending consumers what they need for specific recipes. The company says its processes help lead to 80% less food waste at its facilities compared with a traditional supermarket. In addition to Lightspeed, Hungryroot is backed by L Catterton, Crosslink Capital, Karp Reilly and Lerer Hippeau.

Persons: Ben McKean, Hungryroot, Jeremy Liew, They've, L, Karp Reilly, Lerer, Lisa Rizzolo Organizations: CNBC, Investors, Lightspeed Venture Partners, Crosslink Locations: U.S, York, Brussels

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