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☆ Amazon CEO Andy Jassy says he's committed to cost cutting while investing in AI in shareholder letter
▼ + stars: | 2024-04-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +41 min

This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Being intentional about building primitives requires patience. Customers building their own FM must tackle several challenges in getting a model into production. Customers' AI models contain some of their most sensitive data.

Persons: Andy Jassy, Jassy, Jeff Bezos, he's, we've, Martha Stewart, Clinique, we're, We've, bode, We're, I've, iterating, We'd, we'd, Fox, affordably, you've, They're, Anthropic, that's, Claude, Dana, debugs, Slack Organizations: Amazon, Services, AWS, Deal, Prime, MGM, Savings, Regions, Citadel, Target, Storage Service, Netflix, Disney, Max, Paramount, CIA, . Intelligence, Amazon Freight, Carrier, Amazon Shipping, Foods, Drones, Amazon Pharmacy, Amazon Clinic, Robotics, Nvidia, Ricoh, NatWest, FMs, Meta, Bridgewater Associates, Farber Cancer Institute, Delta Air Lines, Intuit, KT, Lonely, LexisNexis, Netsmart, Pfizer, PGA, Rocket Companies, Siemens, Media, Inc Locations: North America, U.S, Europe, India, Brazil, Australia, Mexico, Middle East, Africa, Malaysia, New Zealand, Kingdom of Saudi Arabia, Thailand, Berlin, Hulu, Amdocs, Genomics England, GoDaddy, GenAI

☆ 9 passenger airliners that have landed on Antarctica's rugged runways made out of blue ice
▼ + stars: | 2023-11-22 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

These planes land on rugged, unpaved runways mostly made of blue ice and compacted snow. PrivatAir's Boeing 737 and Smartwings' Boeing 737 MAXA Smartwings 737 MAX on Antarctica in January 2022. It was the first time the jet type landed on one of the continent's blue ice runways. Another Loftleider 757 is set to ferry Antarctic Ice Marathon runners to Union Glacier this December. Loftleider Icelandic Airlines' and Titan Airways Boeing 767Titan Airways' Boeing 767 on Antarctica.

Persons: —, George Hubert Wilkins, Glenn Jacobson, PrivatAir, NPI, Tim Hewette, Troll, Fang, Patrick Woodhead Organizations: Atlantic Airways, Boeing, Service, Lockheed Vega, Airbus, Australian Antarctic, Australian, Skytraders, Australian Antarctic Program, McMurdo, AAP, Norwegian Polar Institute, Swiss, NPI, Boeing's, Airlines, Titan Airways, Antarctic Logistics, Expeditions, Antarctic Logistics & Expeditions, Antarctic Ice, Russian Antarctic, Titan Airways Boeing, Norse Atlantic Airways, Emirates, White Desert Locations: Antarctica, Skytraders, Christchurch , New Zealand, Hobart, Australia's, Tasmania, Cape Town , South Africa, Czech, Chile, Russian, NPI, Norway, Cape Town, Russia's

REUTERS/Yusuf Ahmad/File Photo - RC2DGT9XQ73M Acquire Licensing RightsLONDON, Oct 5 (Reuters) - Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG). The cumulative forecast surplus of 566,000 metric tons over the three years is huge relative to the size of the nickel market. Global consumption this year is expected to come in at 3.2 million metric tons. The mining rush fed an 85% jump in production of intermediate products such as nickel pig iron (NPI) and nickel matte and a 20% rise in primary nickel products such as sulphate. But rising global production is also increasingly about China, which lifted its primary nickel production by 18% year-on-year in January-July.

Persons: Yusuf Ahmad, it's, Sharon Singleton Organizations: REUTERS, Study, Global, London Metal Exchange, Shanghai Futures Exchange, Investor, EV, Macquarie Bank, Traders, London, Reuters, Thomson Locations: Lisbon, London, Indonesia, China, Shanghai

☆ After Salesforce hiked its product prices by an average of 9%, some unhappy customers are considering switching to Microsoft or HubSpot
▼ + stars: | 2023-08-30 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +7 min

Already, consultants see Salesforce customers scrambling to address these price hikes. Jon Winsett, CEO and managing partner at Atlanta-based IT spending advisory NPI Financial, said his firm immediately alerted all its clients to the price increase news. "We were working with one of our accounts right as the price increase was announced, and they were gobsmacked," Winsett said. Customer relationship management software company HubSpot uses customer self-service to sell its software — a stark contrast from Salesforce's sales-driven culture. You don't need a full-time Salesforce admin when you're a HubSpot customer.

Persons: Salesforce, Marc Benioff, Adam Mansfield, — they're, HubSpot, Bernstein, Mark Moerdler, Moerdler, Jon Winsett, Winsett, Microsoft Mansfield, Mansfield, Satya Nadella Justin Sullivan, OpenAI, I've, we're, you've, that's, Yamini Rangan, HubSpot Matt Winkelmeyer, Rishi Jaluria, he'd, Jaluria Organizations: Wall Street, Microsoft, Cloud, Industries, Management, RBC Capital, Salesforce Locations: Salesforce, Atlanta, ChatGPT

Copper prices have been range-bound in recent months after a January slide from their highest in more than seven months and a May rebound from a slump below $8,000 a metric ton. Analysts forecast a copper surplus this year of 111,000 metric tons, with oversupply rising to 188,000 tons next year. Analysts expect a market deficit this year of 191,750 metric tons, dropping to 66,000 tons in 2024. Analysts expect LME cash nickel prices to average $20,000 a metric ton in the fourth quarter, down 11% from the previous poll. They expect the global nickel market to show a surplus of 199,000 metric tons this year and 150,000 tons in 2024.

Persons: Dan Smith, Goran Djukanovic, Nguyen, Eric Onstad, Ananya, David Goodman Organizations: Amalgamated Metal Trading, Study, London Metal Exchange, Reuters, Indonesia, Thomson Locations: BENGALURU, China, YUNNAN, Yunnan, Yunnan province, Indonesia, Commerzbank, London, Bengaluru

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "Downstreaming must at least reach 60% to 70% nickel content in Indonesia and not only for intermediate products," Bahlil said in an interview with Reuters. The International Nickel Study Group (INSG) is forecasting a surplus of 239,000 tonnes, the largest in at least a decade. Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

JAKARTA, May 3 (Reuters) - Indonesia has cut tax incentives to limit investment in lower quality nickel products as it aims to extract as much value as possible from its rich nickel reserves and push for further downstream investment, a cabinet minister said on Wednesday. Since banning nickel ore exports in 2020, Indonesia has seen a surge in investment into smelters but most output is ferronickel or nickel pig iron (NPI), used in stainless steel, that typically only contains 30% to 40% of nickel. Investment Minister Bahlil Lahadalia said the government will no longer provide tax holidays for investment into NPI. "NPI investment can reach break even in four to five years, why would we give 10-year tax holidays? Merdeka currently has capacity of 38,000 tonnes of NPI and a third smelter with 50,000 tonnes capacity is expected to start operations in the second half of the year.

☆ Energy stocks push TSX higher, Dollarama climbs
▼ + stars: | 2023-03-29 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies Enbridge gains on rating upgradeDollarama climbs on quarterly sales beatTSX up 0.8%March 29 (Reuters) - Canada's main stock index extended gains on Wednesday, helped by energy stocks, while discount store chain Dollarama advanced after posting quarterly revenue above estimates. Dollarama Inc (DOL.TO) rose 1.2% and hit a two-month high after the discount store chain also reported a surge in same-store sales. The consumer discretionary sector index (.GSPTTCD), housing the stock, added 0.9%. Archibald added that renewable names like Northland Power (NPI.TO) and Ballard Power Systems (BLDP.TO) would stand to benefit from the credits provided to encourage more investment in green technology. Northland Power (NPI.TO) was down 0.2%, while Ballard Power Systems (BLDP.TO) surged 2.6%.

LONDON, Feb 24 (Reuters) - The global nickel market flipped from deficit to surplus over the course of 2022, according to the International Nickel Study Group (INSG). Indonesia's mined nickel production expanded by 48% to 1.58 million tonnes in 2022, according to the INSG. However, as Indonesian production of Class II nickel rises, the Class I market shrinks. Around 70% of the physical nickel supply chain is now priced at a discount to the LME benchmark. LME nickel volumes slumped by 28% last year and January's activity was 60% lower than that of January 2022.

☆ Mexico economy minister meets with Canadian energy firms
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Jan 23 (Reuters) - Mexican Economy Minister Raquel Buenrosto met with Canadian energy firms to follow up on agreements made at a meeting with President Andres Manuel Lopez Obrador, the ministry said Monday. Buenrostro will meet with the firms again next month to discuss progress made on the agreements, the ministry said on Twitter. A Mexican official told Reuters last week a "framework" for each of the companies' problems with Mexico's energy sector had been agreed upon. A spokesperson for Mexico's economy ministry could not immediately confirm whether the four companies were those present at the meeting with Buenrostro. The United States and Canada last year initiated dispute settlement proceedings against Mexico's push to prioritize state-run energy companies under a regional trade pact.

☆ ChatGPT got all the buzz, but beneath it is a $1B developer framework that's quietly fueling the new era of lifelike AI at OpenAI and beyond
▼ + stars: | 2022-12-16 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +7 min

Beneath the buzz, the next-generation developer framework Ray was key in the viral model's training. "ChatGPT combined a lot of the previous work on large language models with reinforcement as well. Before deploying Ray, OpenAI used a hodgepodge set of custom tools built on top of "neural programmer-interpreter" model. All these tools, Ray and JAX included, are in service to a new generation of combustion engines for the internet called large language models. Multiple companies, both startups and giants, are building their own large language models including Meta, Hugging Face, OpenAI, and Google.

Indonesian nickel production by mine and productPOWERING UPIndonesia's nickel boom reflects both the country's rich mineral resources and the government's drive to push miners down the value-add processing chain. China's imports of nickel by product 2020-2022PRICING DOWNThis Indonesian supply surge was widely expected, but its exact timing was fuzzy given the number of new processing routes being used to convert ore to battery nickel. The combination of European demand shock, Indonesian production burst and the closing of the processing gap between stainless and battery nickel means there "is close to 30% downside for the nickel price into year-end". This mismatch of market-place and market is one of the reasons the LME nickel contract melted down in March. Macquarie Bank now provides three different nickel price forecasts for LME refined metal, Chinese nickel pig iron and Chinese nickel sulphate.

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