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☆ Saudi Arabia's $100 billion AI and semi-chip fund says it will divest from China if the US asks
▼ + stars: | 2024-05-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Saudi AI firm Alat would divest from China if the US requests it, CEO Amit Midha told Bloomberg. Saudi Arabia has been pouring billions into AI and semiconductor initiatives in an attempt to become a major hub. AdvertisementA new state-backed Saudi Arabian fund centered on semiconductor and AI technology has guaranteed that it would divest from China if Washington requests it. Officials have long portrayed China's access to AI and semiconductor technology as a national security threat. US officials have already had to mandate AI firms to divest from China, such as G42.

Persons: Amit Midha, —, Midha, that's Organizations: Bloomberg, Service, Milken Institute Global Conference, Saudi Arabia's Public Investment Fund, Officials, Silicon, New York Times, United Arab Emirates, Microsoft Locations: Saudi, China, Saudi Arabia, Washington, Beijing, Alat

☆ 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

☆ Elon Musk says AI has no 'use' at SpaceX — at least for now
▼ + stars: | 2024-05-07 | by ( Hannah Getahun | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Elon Musk revealed that SpaceX "basically uses no AI." "I mean, oddly enough, one of the areas where there's almost no AI used is space exploration," Musk replied. "So SpaceX uses basically no AI, Starlink does not use AI. At X, Musk integrated his AI chatbot Grok — similar to ChatGPT — into the social media platform. Musk also considered using AI to help summarize news on the site.

Persons: Elon Musk, hasn't, —, Elon, Musk, Michael Milken, I'm, he's, electrochemistry, Geoff Hinton Organizations: SpaceX, Service, Milken Institute Global, Musk, Milken Institute, Business

☆ Watch CNBC's full interview with OpenAI COO Brad Lightcap
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with OpenAI COO Brad LightcapCNBC's David Faber sits down exclusively with OpenAI's COO Brad Lightcap from the Milken Institute Global Conference to discuss its latest content tools, competition in the AI space, company structure and more.

Persons: Brad Lightcap CNBC's David Faber, Brad Lightcap Organizations: Milken Institute Global Conference

☆ Watch CNBC's full interview with David Zervos and Anne Walsh at Milken Conference
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with David Zervos and Anne Walsh at Milken ConferenceHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: David Zervos, Anne Walsh, Brian Sullivan, “ Organizations: CNBC

☆ Sen. Joe Manchin: The U.S. needs supply chain it can rely on with 'our allies not our adversaries'
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Joe Manchin: The U.S. needs supply chain it can rely on with 'our allies not our adversaries'Sen. Joe Manchin joins 'Last Call' at the Milken Conference to talk U.S. energy policy.

Persons: Email Sen, Joe Manchin, Sen Organizations: Email, Milken Conference Locations: U.S

☆ Exxon CEO says dispute with Chevron over Hess Guyana oil assets could drag into 2025
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp, speaks during the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024. Exxon CEO Darren Woods said Monday that the dispute with Chevron over Hess Corporation 's oil assets in Guyana likely will not be resolved until 2025. "This is an important arbitration obviously not only for Exxon Mobil but for Chevron and Hess," Woods said. Exxon is claiming a right of first refusal on Hess' assets in Guyana under a joint operating agreement that governs a consortium that is developing the South American nation's prolific oil resources. The CEO has repeatedly expressed confidence that Exxon will prevail in the dispute, saying the company wrote the agreement that governs the consortium.

Persons: Darren Woods, Woods, CNBC's David Faber, Hess Organizations: Exxon Mobil Corp, P Global, Exxon, Chevron, Hess Corporation, Milken Institute's Global Conference, Exxon Mobil, Hess, International Chamber of Commerce Locations: Houston , Texas, Guyana, Los Angeles, Paris

☆ Chevron CEO says natural gas demand will outpace expectations on data center electricity needs
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Natural gas demand will likely outpace expectations as electricity consumption surges from artificial intelligence and data centers, Chevron CEO Mike Wirth told CNBC on Monday. "It's a little hard to quantify right now because this is evolving so quickly on the AI side," Wirth told CNBC's Sara Eisen at the Milken Institute's Global Conference in Los Angeles. "But I think demand for natural gas is likely to be higher than what people have been estimating up until now." Wirth said the move to electrify the nation's vehicle fleet, heating and manufacturing as well as the increase in demand from data centers will require reliable and affordable backup power generation. Wind and solar offer affordable power in some regions, but they still face challenges in generating enough electricity to meet peak demand because they rely on variable weather conditions, the Chevron CEO said.

Persons: Mike Wirth, Wirth, CNBC's Sara Eisen Organizations: Chevron, CNBC, Milken Institute's Global Conference Locations: Los Angeles

☆ OpenAI exec says today's ChatGPT will be 'laughably bad' in 12 months
▼ + stars: | 2024-05-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

OpenAI COO Brad Lightcap says generative AI as it is today will be "laughably bad" within a year. The exec predicts ChatGPT could soon take on more "complex work" and be a "great teammate." The tech giant is set to release its latest language model, GPT-5, as early as this summer. One OpenAI executive predicts generative AI tools like its own at the moment will be nothing compared to what's to come. "That's going to be a different way of using software," the OpenAI exec said on the panel regarding AI's foreseeable capabilities.

Persons: Brad Lightcap, —, Lightcap, didn't Organizations: Service, Milken Institute Global, Business, Milken Institute Locations: OpenAI

☆ Zeta Global CEO David Steinberg talks AI in focus at Milken Conference
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZeta Global CEO David Steinberg talks AI in focus at Milken ConferenceHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: David Steinberg, Brian Sullivan, “ Organizations: Zeta Global, Milken, CNBC

☆ Elon Musk and 'anti-Biden brain trust' bonded at exclusive Hollywood Hills dinner, report says
▼ + stars: | 2024-05-01 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Read previewElon Musk, at an exclusive April dinner, commiserated with a group of billionaires about their distrust in Democratic politicians like Joe Biden, according to a new report by Puck. The outlet reported that Musk and venture capitalist David Sacks hosted the private event at Sacks' $23 million estate in the Hollywood Hills. This story is available exclusively to Business Insider subscribers. Related storiesRepresentatives for Musk, Sacks, and other dinner attendees identified by Puck did not immediately respond to requests for comment from Business Insider. "In the past I voted Democrat, because they were (mostly) the kindness party," Musk wrote in a tweet in May 2022.

Persons: —, Elon, Joe Biden, Puck, David Sacks, Sacks, Peter Thiel, Travis Kalanick, Steven Mnuchin, Donald Trump, Biden, Musk, Michael Milken, Milken's, Milken, Trump, OpenSecrets, Don Lemon, Lemon Organizations: Service, Hollywood, Business, Democratic, Biden, Houston Chronicle, SpaceX hasn't, Trump, National Republican Congressional Committee, Democratic Party, Republican, The New York Times, CNN Locations: Palm Beach , Florida

☆ Doubt we'll see more than two 25bps rate cuts this year, says Bill Lee
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoubt we'll see more than two 25bps rate cuts this year, says Bill LeeWilliam Lee, Chief Economist at the Milken Institute, gives his expectations for the upcoming Federal Reserve meeting.

Persons: Bill Lee William Lee Organizations: Milken Institute, Reserve

☆ Citigroup tops estimates for first-quarter revenue on better-than-expected Wall Street results
▼ + stars: | 2024-04-12 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Citigroup on Friday posted first-quarter revenue that topped analysts' estimates, helped by better-than-expected results in the bank's investment banking and trading operations. Revenue slipped 2% to $21.10 billion, mostly driven by the impact of selling an overseas business in the year-earlier period. Investment banking revenue jumped 35% to $903 million in the quarter, driven by rising debt and equity issuance, topping the $805 million StreetAccount estimate. Fixed income trading revenue fell 10% to $4.2 billion, edging out the $4.14 billion estimate, and equities revenue rose 5% to $1.2 billion, topping the $1.12 billion estimate. Now, analysts want to know if Citigroup can maintain its previous guidance for full-year revenue and expense targets.

Persons: Jane Fraser, Fraser, JPMorgan Chase, Goldman Sachs Organizations: Citi, Milken Institute Global Conference, Citigroup, LSEG Revenue, Revenue, Investment, Services, U.S, JPMorgan Locations: Beverly Hills , California

☆ Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024
▼ + stars: | 2024-04-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Mike Blake | ReutersThe CEO of blockchain startup Ripple sees the combined market capitalization of the cryptocurrency market topping $5 trillion this year. If the market were to double, that would imply a new total crypto market cap of $5.2 trillion. Bitcoin accounts for about 49% of the entire crypto market, with a market capitalization of $1.3 trillion as of April 1. This year being an election year, crypto hopefuls are optimistic that the next administration will be more accommodating to the crypto industry with its policy focus. Garlinghouse isnt the only crypto bull predicting outsized gains for the crypto market this year.

Persons: Brad Garlinghouse, Mike Blake, Ripple's Brad Garlinghouse, I've, Garlinghouse, Gary Gensler, Ripple, Marshall Beard, there's, Beard, Anthony Pompliano Organizations: Milken, Global Conference, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Beverly Hills , California, U.S, United States, London

☆ Certain work shifts may harm your health later in life, study finds
▼ + stars: | 2024-04-03 | by ( Kristen Rogers | ) edition.cnn.com time to read: +8 min

More dire long-term consequences may also be at play, according to new research on the associations between work patterns in young adulthood and health outcomes later in life. Multiple studies have shown how irregular work hours can harm overall health and social life, but the new paper views the relationship through a “life-course” approach, observing how work patterns affect health throughout adulthood instead of one point in time. Despite the challenges of today’s work schedules, health experts say there are strategies people can use to mitigate the negative impacts. Additionally, still having some kind of routine or schedule around that shift can make it easier to fit in those health-promoting activities — especially sleep, Yao added. And past research has found that refraining from eating late at night counteracts the negative effects of shift work on health, he added.

Persons: ”, Wen, Han, ” Han, White, Xiaoxi Yao, wasn’t, Yao, ” Yao, “, Leana Wen, Wen wasn’t, Azizi Seixas, Christian Benedict, Han’s, ” Benedict, Benedict, ” Seixas Organizations: CNN, Silver School of Social, New York University, Longitudinal Survey, Mayo Clinic, “, George Washington University Milken Institute School of Public Health, Center, University of Miami Miller School of Medicine, Uppsala University Locations: midlife, Minnesota, Sweden

☆ China is facing its most challenging economic problems in about 40 years: Milken Asia chair
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina is facing its most challenging economic problems in about 40 years: Milken Asia chairRobin Hu, Asia chair of the Milken Institute, says "stability and predictability will show themselves to be necessary ingredients for success."

Persons: Milken, Robin Hu Organizations: China, Milken Institute Locations: Milken Asia, Asia

☆ Foundation cancels RBG award ceremony that would have honored Musk, Murdoch after family’s outcry
▼ + stars: | 2024-03-18 | by ( Tierney Sneed | ) edition.cnn.com time to read: +2 min

CNN —The foundation that selected SpaceX CEO Elon Musk, conservative media mogul Rupert Murdoch and other honorees as recipients of an award named after Ruth Bader Ginsburg announced Monday it is canceling its award ceremony after receiving pushback from the late justice’s family. The slate of this year’s honorees for the foundation’s “RBG Leadership” award, formerly the “Ruth Bader Ginsburg Women in Leadership” award, was announced last week and also included lifestyle icon Martha Stewart, actor Sylvester Stallone and financier Michael Milken. Ruth Bader Ginsburg, a longtime liberal member of the high court who died at age 87 in 2020, consistently delivered progressive votes on major social issues, including abortion rights, same-sex marriage and immigration. It is not interested in generating a debate about whether particular honorees are worthy or not,” she said. Indeed, Justice Ginsburg was known for her civility.”

Persons: Elon Musk, Rupert Murdoch, Ruth Bader Ginsburg, Julie Opperman, RBG, ”, ” Opperman, Martha Stewart, Sylvester Stallone, Michael Milken, Ginsburg, Jim Ginsburg, CNN’s Paula Reid, Murdoch, ” “, Ginsburg’s Organizations: CNN, SpaceX, Opperman Foundation, Foundation, Leadership

☆ Four of investors' top 5 favorite investment destinations are in Europe, Milken Institute report shows
▼ + stars: | 2024-03-18 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +3 min

Four of investors' top five favorite destinations are in Europe, according to the Milken Institute's Global Opportunity Index (GOI) report. The country ranked fifth in the financial services category, which evaluates the overall financial system in a nation as well as the accessibility to finance. Among Asian E&D economies, Malaysia emerged as investors' favorite and ranked 27th globally. Overall, E&D regions "offer attractive opportunities to investors interested in emerging markets with favorable growth potential," the report said. Rising tensions between the U.S. and China, however, have hit inflows to Asian E&D economies, down 75.4% in 2022, the report added.

Persons: Maggie Switek, Switek Organizations: New York Stock Exchange, Milken, Denmark, Denmark Sweden Finland United States United, The Milken Institute, The New York Times, U.S Locations: New York, Europe, Denmark, Denmark Sweden Finland United States United Kingdom, U.S, Finland, Asia, Malaysia, China

☆ Award in Ruth Bader Ginsburg’s name given to Elon Musk and Rupert Murdoch is a ‘desecration’ of her memory, son says
▼ + stars: | 2024-03-17 | by ( Jack Forrest | ) edition.cnn.com time to read: +3 min

The Ginsburg award “celebrates leaders who have demonstrated extraordinary accomplishments in their chosen fields,” according to the foundation. The award “has previously recognized women of distinction” but was expanded this year to include men and women. In addition to Musk and Murdoch, lifestyle icon Martha Stewart, actor Sylvester Stallone and financier Michael Milken are also 2024 recipients of the award. The Opperman Foundation did not respond to an inquiry Friday from CNN. CNN also reached out Sunday night for comment on Jim Ginsburg’s interview.

Persons: Ruth Bader Ginsburg, Elon Musk, Rupert Murdoch, ”, ” Jim Ginsburg, Paula Reid, Ginsburg, “, Murdoch, Martha Stewart, Sylvester Stallone, Michael Milken, Barbra Streisand, Jim Ginsburg, Reid, Jim Ginsburg’s, Stewart, Ruth Bader Ginsburg’s “, CNN’s Tierney Sneed Organizations: CNN, SpaceX, Opperman Foundation, Opperman, Foundation, ”

☆ Ruth Bader Ginsburg’s family dissents after award in her name is given to Elon Musk and Rupert Murdoch
▼ + stars: | 2024-03-15 | by ( Tierney Sneed | ) edition.cnn.com time to read: +3 min

CNN —The family of the late liberal Justice Ruth Bader Ginsburg wants her name pulled off an award after the foundation in charge of doling it out named SpaceX CEO Elon Musk and conservative media mogul Rupert Murdoch among this year’s recipients. In addition to Musk and Murdoch, lifestyle icon Martha Stewart, actor Sylvester Stallone and financier Michael Milken are also recipients of the award. The Ginsburg award “celebrates leaders who have demonstrated extraordinary accomplishments in their chosen fields,” according to an announcement by the foundation on Wednesday. “Justice Ginsburg fought not only for women but for everyone,” said Julie Opperman, chair of the foundation, in a statement accompanying the announcement this week. Barbra Streisand receives The Justice Ruth Bader Ginsburg Woman of Leadership Award on July 1, 2023 in Malibu, California.

Persons: Ruth Bader Ginsburg, Elon Musk, Rupert Murdoch, Ginsburg’s, Ginsburg, ”, Trevor Morrison, Murdoch, Martha Stewart, Sylvester Stallone, Michael Milken, “, Barbra Streisand, “ Justice Ginsburg, Julie Opperman, Stewart, ” Murdoch, Kevin Mazur, Dwight D, Morrison, CNN’s Devan Cole Organizations: CNN, SpaceX, Opperman, ”, New York University School of Law Locations: Malibu , California

☆ Denmark, Sweden, Finland top list for Milken's 2024 Global Opportunity Index
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDenmark, Sweden and Finland top the list for Milken's 2024 Global Opportunity IndexThe Milken Institute, an economic think tank based in California, released its annual Global Opportunity Index report which tracks investor interest in global economies. The U.S. ranked 4 while China ranked 39 — which is pretty high for an emerging economy, Senior Director Maggie Switek said.

Persons: Maggie Switek Organizations: Email, Milken Institute, U.S, China Locations: Email Denmark, Sweden, Finland, California

☆ 'Do I regret it? No’: AirAsia’s Tony Fernandes discusses viral topless LinkedIn post
▼ + stars: | 2024-03-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Tony Fernandes, chief executive officer of Capital A Bhd., during the Milken Institute Asia Summit in Singapore, on Thursday, Sept. 14, 2023. AirAsia founder and CEO Tony Fernandes says he does not regret the viral LinkedIn post that showed him receiving a massage during a meeting — and that transparency is worth potential controversy. The Malaysian businessman is known for an unfiltered approach to posting on social media. It has a disadvantage, that people will misrepresent and misunderstand Tony Fernandes the persona," he said. But by far the strongest reaction to a social media post by Fernandes came in October, when the businessman shared a photograph of himself shirtless in the office.

Persons: Tony Fernandes, Fernandes Organizations: Milken Institute Asia Summit, AirAsia, CNBC, Singapore Airlines Locations: Singapore, Malaysian, Indonesia

But a big problem persists as long as the coronavirus continues to spread: long COVID. Long COVID is a condition involving new, returning or ongoing health problems four or more weeks after initial coronavirus infection. “The long COVID community and the COVID cautious community are pretty furious about it,” Hennessy says. And of the people who were aware of long COVID, more than 20% said they at least somewhat agreed with the statements “those with Long COVID may just be depressed” and “Long COVID symptoms are often just the normal aches and pains of life.”“They’re told that their brain fog or other symptoms are not real, and that’s demoralizing,” Rylance said. Young adults and children can also have long COVID, with more than 1% of kids ever having long COVID as of 2022, according to a national survey.

Persons: Long, Long COVID, –, Paul Hennessy, ” Hennessy, Mandy Cohen, didn’t, Hennessy, “, ” Jamie Rylance, hadn’t, ” “ They’re, that’s, ” Rylance, they’re, ”, it’s, Lynn Goldman Organizations: World Health Organization, Washington , D.C, Survey, Centers for Disease Control, CDC, PBS, COVID, CDC’s National Center for Health Statistics, U.S . Research, New England, of Medicine, Milken Institute School of Public Health, George Washington University Locations: U.S, Washington, Washington ,

☆ How sleep can affect diabetes risk, according to new study
▼ + stars: | 2024-03-05 | by ( Kristen Rogers | ) edition.cnn.com time to read: +5 min

Sleep is an important lifestyle factor in reducing risk for type 2 diabetes, a new study has found. In terms of risk for type 2 diabetes, there wasn’t a significant difference between those with normal sleep and those who slept six hours. And even for those who ate the healthiest, their diet didn’t offset the effects of insufficient sleep on diabetes risk. The findings are also based on participants’ recollections of their food and sleep habits, according to the study. Confirming a causal relationship “would require randomized trials intervening on sleeping habits to increase sleep time and see if this reduces risk of diabetes in those at risk, e.g.

Persons: CNN —, Dr, Diana Nôga, ” Nôga, ”, Leana Wen, Wen wasn’t, ” Wen, Naveed Sattar, ” Sattar, Wen Organizations: CNN, JAMA, biosciences, Uppsala University, Lighthouse Films, George Washington University Milken Institute School of Public Health, University of Glasgow Locations: Sweden, United Kingdom, Scotland, “

☆ Two market experts debate the push and pull between stocks and the economy
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo market experts debate the push and pull between stocks and the economyJames Cakmak, Partner at Clockwise Capital, and William Lee, Chief Economist at the Milken Institute, discuss the staying power of the markets' rally.

Persons: James Cakmak, William Lee Organizations: Milken Institute

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