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☆ OpenAI gave Jensen Huang a shout-out at the GPT-4o launch in a nod to Nivdia's huge influence on AI
  + stars: | 2024-05-14 | by ( Tom Carter | ) www.businessinsider.com   time to read: +1 min
OpenAI CTO Mira Murati thanked Nvidia boss Jensen Huang as the company revealed its latest AI model. It's a sign of just how important Nvidia is to the AI arms race. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOpenAI unveiled its latest model Monday — and the company gave a shoutout to AI's kingmaker. OpenAI CTO Mira Murati thanked Jensen Huang, the CEO of Nvidia, for providing the microchips that allowed the AI startup to demo its brand-new GPT-4o model.
Persons: Mira Murati, Jensen Huang, —, OpenAI, Jensen Organizations: Nvidia, Tech, Service, Business
☆ 4 reasons why the S&P 500 has another 5% upside this year, UBS says
  + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
The ongoing S&P 500 rally could extend to 5,500 this year, UBS said. Tech earnings have remained strong, with ex-Mag 7 tech firm profits revised 7% higher since March. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWith last month's equity jitters already quashed, the ongoing rebound is the start of an extensive summer rally, UBS said. According to a note published Tuesday, the S&P 500 could reach the firm's upside scenario of 5,500 by this year's end.
Persons: Disinflation, —, Marcelli, That's Organizations: UBS, Tech, Service, Global Wealth Management, Microsoft, Nvidia, Apple
☆ CEO of software firm WSO2 discusses how it's positioning itself for generative AI
  + stars: | 2024-05-14 | 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 EmailCEO of software firm WSO2 discusses how it's positioning itself for generative AISanjiva Weerawarana, founder and CEO of WSO2, discusses the company's growth strategy and the business environment for tech companies in Sri Lanka.
Persons: WSO2, Weerawarana Locations: Sri Lanka
☆ China is asking its tech giants to ditch Nvidia chips and buy local instead: report
  + stars: | 2024-05-14 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com   time to read: +4 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChinese officials are asking domestic tech giants to buy locally-made AI chips instead of Nvidia's, The Information reported on Monday. Chinese tech giants, The Information's sources said, are now expected to purchase equal numbers of locally and foreign-made AI chips for their new data centers. China is a very important market for the technology industry," Nvidia CEO Jensen Huang told the Financial Times in May 2023. Cupertino-based tech giant Apple, for instance, has been working to diversify its supply chains away from China.
Persons: —, Tencent, pare, hasn't, Colette Kress, Jensen Huang, Huang, walling, Jay Pelosky, BI's Yuheng Zhan, Tencent didn't Organizations: Service, Baidu, Business, China's National, Ministry of Industry, Information Technology, Nvidia, downer, Reuters, Financial Times, BI, Apple, Bloomberg, China's Ministry of Industry, Alibaba Locations: China, United States, Cupertino, India
☆ Jellysmack raised a 9-figure war chest as the creator economy soared. Insiders say it bit off more than it could chew.
  + stars: | 2024-05-14 | by ( Sydney Bradley | Amanda Perelli | Dan Whateley | ) www.businessinsider.com   time to read: +20 min
But while the company's profile in the industry has stayed constant and swaggering, behind the curtain, its business has been increasingly troubled, 10 insiders told Business Insider. Creator economy professionals mingled beneath glowing jellyfish and coral light fixtures inside Jellysmack's creator lounge during VidCon 2023. "As a startup in the ever-evolving creator economy, we are constantly testing and adapting our business model," the Jellysmack spokesperson told BI in a statement. Advertisement"The world was falling apart with the pandemic, but early Jellysmack felt like a dream," the second former staffer told BI. BI viewed two Jellysmack contracts and an email exchange between Jellysmack and one of its creator clients to verify the practice.
Persons: —, SoftBank, lanyards, Jellymack, Jellysmack, YouTubers, Brad Mondo, Meta, Michael Philippe, Jellysmack cofounders Swann Maizil, Robin Sabban, Nathan Guetta, Condé Nast, Youri Hazanov, Sean Atkins, hasn't, Snapchat —, Amanda Perelli, JellyFi, deprioritize, that's, it's, Ollie Forsyth, They've Organizations: Service, Business, Facebook, influencers, BI, YouTube, Disney, Comcast, Keli, Big Tech, cryptocurrency, MTV, HBO, Copyright Capital, SoftBank, Productions, OKA Media, Network Media LLC, Crime, Star, Spotify, Crime Network Locations: VidCon, SoftBank
☆ Grasp, a Swedish startup using AI for financial advisory, just raised $1.9 million in funding using this 11-slide pitch deck
  + stars: | 2024-05-14 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +1 min
Swedish startup Grasp has raised $1.9 million to automate financial advisory workflows with AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGrasp, a Swedish startup that makes AI assistants to help consultants and investment bankers reduce their workload, has raised $1.9 million. Founded in 2020 by former McKinsey consultants, Grasp aims to help users automate manual research functions. This story is available exclusively to Business Insider subscribers.
Persons: Karl, Johan Persson, — Organizations: ex, McKinsey, Yanno, M, Service, Business Locations: Swedish
☆ Brex: 2024 CNBC Disruptor 50
  + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +2 min
Since SVB, Brex has continued to invest in differentiated services, including AI-powered tools to help streamline expense reporting, booking and management capabilities, accounts payable and procurement management. Within 36 hours, Brex signed up nearly 4,000 companies, taking in close to $2 billion in deposits. It has since backtracked on that position, and has doubled down on its roots serving tech startups. The spend management space has become more crowded, with fellow Disruptors Ramp and Navan, as well as Expensify, Mesh Payments, Airbase and Center competing for market share. Tech companies laid off more than 191,000 workers in 2023 — a trend that has continued into 2024.
Persons: Brex, Henrique Dubugras, Pedro Francheschi, Francheschi, Ben Gammell, PitchBook Organizations: Ribbit, DST, San, Airbase, Center, Tech Locations: Salt Lake City, San Francisco, Navan
☆ Dedrone: 2024 CNBC Disruptor 50
  + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +1 min
Enter Dedrone, a Sterling, Va.-based defense tech company and inventor of technology with advancements to protect against escalating drone warfare. Recognized for innovations in smart airspace security, Dedrone technology is used by the military, government, and commercial customers including airports, stadiums and high-profile events such as Formula One Grand Prix to detect, track and reduce threats. Additionally, Dedrone systems are at work in Ukraine. Flying high this past year, Dedrone technology was singled out for an award as the only counter-drone approved for use in anti-terrorism by the Department of Homeland Security. Dedrone also expanded its partnership with the FAA for more testing of its technology at airports.
Persons: Richard D, Clarke, Dedrone Organizations: Department of Homeland Security, U.S ., Washington, D.C, US Army, FAA Locations: Russia, Ukraine, Israel, Asia, Sterling, Va
☆ Apple desperately needs its Next Big Thing
  + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com   time to read: +10 min
But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.
Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia
☆ Google announces AI agent 'Project Astra'
  + stars: | 2024-05-14 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle announces AI agent 'Project Astra'CNBC’s Deirdre Bosa joins 'Power Lunch' to discuss Google's latest announcement at its tech event.
Persons: Deirdre Bosa Organizations: Google, Astra
☆ No, ChatGPT-4o isn't coming for your job. Yet.
  + stars: | 2024-05-14 | by ( Matthew Loh | Shubhangi Goel | ) www.businessinsider.com   time to read: +6 min
Read previewOpenAI unveiled its latest ChatGPT tech on Monday, presenting a new voice mode that can show and detect emotion in a sophisticated, conversational style. They also cautioned that most people have been reacting to a tech demo, which can often be highly tailored and might not necessarily reflect the product's true capability. pic.twitter.com/ZncytI234K — Allen T (@Mr_AllenT) May 13, 2024OpenAI also showed potential adopters new use cases, such as translation and teaching services. AdvertisementThe new video camera and voice features do wonders for ChatGPT's potential in roles like customer support, van Rossum added. But it's going to be much more difficult for ChatGPT to take over customer support, teaching, or negotiation, Leong said.
Persons: —, Scarlett Johansson, OpenAI, — Allen, Mira Murati, ChatGPT, wpB6sGjA7E, Alex Kantrowitz, Siri, Alexa, Daan van Rossum, van Rossum, Leslie Teo, Teo, Ben Leong, it's, Leong, Simon Lucey, Lucey, We've Organizations: Service, Big, Business, AIs, Companies, Singapore, National University of Singapore, University of Adelaide's Australian Institute for Machine, Microsoft Locations: Big Tech, Singapore
☆ Looks like Google tried to one-up OpenAI by teasing its new AI tools minutes before the GPT-4o reveal
  + stars: | 2024-05-14 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +1 min
Google released a teaser for its AI tools shortly before OpenAI revealed GPT-4o. OpenAI scheduled its livestream the day before Google's I/O conference. The timing highlights the intense AI race between Big Tech firms launching rival tools. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle appeared to try to outplay OpenAI by dropping a teaser for its AI tools just minutes before the big reveal of GPT-4o.
Persons: OpenAI, Google's, —, OpenAI's Organizations: Google, Big Tech, Service, Business
☆ OpenAI's latest model, GPT-4o, sounds a lot like a digital girlfriend. Some sex workers are rolling with it.
  + stars: | 2024-05-14 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. AdvertisementLinda, a phone sex operator, told Business Insider that artificial intelligence is being adopted by some in the sex work community, and she now regularly sees AI-generated images on profiles of fellow phone sex workers. "It's not for everyone, but, honestly, I think it's great — like you want a sex robot, guys — here ya go! " Representatives for OpenAI did not immediately respond to a request for comment from Business Insider.
Persons: —, Scarlett Johannson, Joaquin Pheonix —, OpenAI, Scott Woods, Sam Altman, Linda, Kaitlyn, Amouranth, Siragusa Organizations: Service, Business, Mars, BI, Polygon, The New York Post Locations: Berlin
☆ OpenAI may have finally cracked the code on voice interactions with AI
  + stars: | 2024-05-14 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +6 min
In today's big story, everyone's talking — literally — about the big update for OpenAI's ChatGPT that could make your job a lot easier . AdvertisementOpenAI may have finally cracked the code on voice interactions with AI, though. OpenAI says GPT-4o's average response to audio inputs is 320 milliseconds, which is on par with a typical human-to-human conversation. "They've essentially made text input almost be the barbaric form of communicating with ChatGPT (or any AI) now," the developer said. ChatGPT, Tyler Le/BIOpenAI's big reveal shows the shockwaves the startup keeps sending through the tech world.
Persons: —, Here's, ChatGPT Holger Scheibe, Tyler Le, OpenAI, Alex Bitter, They've, ChatGPT, Katie Notopoulos, Siri, it's, Apple that's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook's, Tesla, Mark Zuckerberg, he's, Nathan Congleton, Melinda, Gates, French Gates, she'd, Melinda Gates, Bill Gates, Doug McMillon, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Teen, Business, HAL, Hollywood, Apple, Apple's Worldwide, Conference, GPT, Google, Microsoft, Washington, Getty, Tesla, Melinda Gates Foundation, University of Arkansas, Depot, Sony, Disney, Cannes Locations: NBCU, New York, London
☆ 6 of the best looks at the 'Bridgerton' premiere and 4 that missed the mark
  + stars: | 2024-05-14 | by ( Samantha Grindell | ) www.businessinsider.com   time to read: +1 min
The "Bridgerton" season three world premiere took place in New York on Monday. Nicola Coughlan and Jonathan Bailey wore eye-catching looks on the red carpet. AdvertisementPart one of "Bridgerton" season three will be released on Netflix on Thursday after months of anticipation. To celebrate, Netflix hosted a world premiere for the season in New York on Monday, bringing the stars of the series together for the red-carpet event. Several celebrities wore standout looks to the premiere, while others didn't have their best style moments.
Persons: Nicola Coughlan, Jonathan Bailey, Simone Ashley, Luke Newton didn't, — Organizations: Service, Netflix, Business Locations: New York
☆ How China Rose to Lead the World in Cars and Solar Panels
  + stars: | 2024-05-14 | by ( Keith Bradsher | ) www.nytimes.com   time to read: 1 min
For decades, China has moved methodically to dominate ever more industries, from toys and clothing in the 1980s to semiconductors and renewable energy today. China now produces a third of the world’s manufactured goods — more than the United States, Germany, Japan, South Korea and Britain combined. Its trade surplus in these goods is equal to a tenth of the entire Chinese economy. Top leaders in the United States and Europe have begun calling on China to dial back how much it sells to the world, and to increase its imports. On Tuesday, President Biden is expected to raise U.S. tariffs sharply on imports from China of electric cars, solar panels and other high-tech manufactured goods.
Persons: Biden Locations: China, United States, Germany, Japan, South Korea, Britain, Europe
☆ Tencent posts fastest profit growth in 3 years as online ads, business services offset slower gaming
  + stars: | 2024-05-14 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: 1 min
Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Tencent beat analyst estimates for revenue and profit in the first quarter, thanks to slightly better sales in the Chinese tech giants core gaming business and improved profitability at its advertising and business services division. Here's how Tencent did in the March quarter versus LSEG consensus estimates:Revenue: 159.5 billion Chinese yuan ($22 billion) versus 158.4 billion yuan expected. Profit attributable to equity holders of the company: 41.9 billion yuan versus 36.64 billion yuan anticipated. Tencent's adjusted net profit was up 62% year-on-year, marking the fastest growth since the March quarter of 2021, according to LSEG data.
Persons: Tencent Organizations: Revenue
☆ 5 defensive trades to make if stagflation and hard-landing fears cause a stock sell-off, BofA says
  + stars: | 2024-05-14 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +2 min
Stocks are vulnerable to a stagflation or hard landing rebound, says Bank of America's Michael Hartnett. AdvertisementStock markets face downturn risk if stagflation or recession anxiety re-materializes, Bank of America's top global strategist Michael Hartnett wrote on Tuesday. "Sentiment not at 'close-eyes-and-sell' levels but risk assets vulnerable to more evidence of stagflation," he noted in the bank's latest Global Fund Manager Survey. Although outlooks have since calmed, stagflation seemed like a growing possibility last month, when estimate-beating inflation data eclipsed shallow first-quarter GDP. Stagflation may have some part to play, as inflation remains the leading tail risk, while fears of an "economic hard landing" grew stronger.
Persons: America's Michael Hartnett, Hartnett, —, Michael Hartnett, stagflation Organizations: America's, Service, materializes, Bank of America's, Global Fund, Survey, Japan Utilities, Federal Reserve Locations: China, Europe, Japan
☆ Why OpenAI is the first company to be No. 1 on the CNBC Disruptor 50 list two years in a row
  + stars: | 2024-05-14 | by ( Julia Boorstin | ) www.cnbc.com   time to read: +1 min
Persephone KavallinesIt's a first for the annual CNBC Disruptor 50 list: a company landing at No. Perhaps no surprise, that company is OpenAI. More than any other startup in the 12-year history of the Disruptor 50 list, OpenAI's disruptive impact and potential is unparalleled. In fact, 34 of this year's Disruptor 50 companies describe AI as critically important to more than half of their revenue. Thirteen say that it is generative AI, specifically, that is critically important to the majority of sales.
Persons: It's Organizations: CNBC
☆ Tuesday, May, 14, 2024: Jim Cramer says this surging meme stock has no 'game plan'
  + stars: | 2024-05-14 | by ( ) www.cnbc.com   time to read: 1 min
Tuesday, May, 14, 2024: Jim Cramer says this surging meme stock has no 'game plan'Jim and Jeff discuss the latest moves for this bio tech stock. They also talk about the meme stock trend. Finally, they weigh in on Chinese stocks.
Persons: Jim Cramer, Jim, Jeff
☆ I flew economy on Copa, Panama's flagship airline. My only regret was not booking it for a long-haul flight home.
  + stars: | 2024-05-14 | by ( Monica Humphries | ) www.businessinsider.com   time to read: +1 min
I took a domestic flight with Copa and regretted not booking it for my longer, round-trip flight home. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In Panama City, visitors can explore historic neighborhoods, try new cuisines, tour the impressive Panama Canal, and dance nights away on rooftop bars. This story is available exclusively to Business Insider subscribers.
Persons: — Organizations: Copa Airlines, Copa, Service, Business Locations: Panama, Panama City, It's
☆ Google Takes the Next Step in Its A.I. Evolution
  + stars: | 2024-05-14 | by ( Nico Grant | ) www.nytimes.com   time to read: +1 min
Last May, Sundar Pichai, Google’s chief executive, said that the company would use artificial intelligence to reimagine all of its products. On Tuesday, at Google’s annual conference in Mountain View, Calif., Mr. Pichai showed how the company’s aggressive work on A.I. Overviews, that generates information summaries above traditional search results. Overviews is likely to heighten concerns that web publishers will see less traffic from Google Search, putting more pressure on an industry that has reeled from rifts with other tech platforms. On Google, users will see longer summaries about a topic, which could reduce the need to go to another website — though Google downplayed those concerns.
Persons: Sundar Pichai, Pichai Organizations: Google Locations: Mountain View, Calif, U.S
☆ CNBC TechCheck Evening Edition: May 14, 2024
  + stars: | 2024-05-14 | 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 EmailCNBC TechCheck Evening Edition: May 14, 2024CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.
Persons: TechCheck Organizations: CNBC Locations: San Francisco
☆ A sports betting VC has raised a new $25 million fund to invest in sports, gambling, and entertainment startups
  + stars: | 2024-05-14 | by ( Tiara White | ) www.businessinsider.com   time to read: +3 min
Read previewVenture-capital firm Sharp Alpha Advisors has closed a new $25 million fund to invest in early-stage sports, gambling, and entertainment startups. "And we think that at the intersection of sports, gaming, and entertainment is where this type of engagement is most reliably found." AdvertisementSharp Alpha's new fund intends to invest $1 to $2 million in target ventures — an increase from the average $250,000 offered by its initial fund, Danzig said. Danzig said C15 is a great example of the type of companies Sharp Alpha is looking to invest in. Though the process was difficult, Danzig said he is "very fortunate to have our investors from fund one excitedly and enthusiastically re-upping into fund two."
Persons: —, Lloyd Danzig, Danzig, Freevee, Sharp Organizations: Service, Sharp Alpha Advisors, Media, Business, Pluto, Sharp Alpha
☆ Google IO live updates: Get ready for AI news at the tech giant's big summer event
  + stars: | 2024-05-14 | by ( Steven Tweedie | Jordan Hart | Sarah Jackson | ) www.businessinsider.com   time to read: +1 min
Google's big summer conference, Google IO, kicks off today at 1 p.m. Business Insider will be in attendance and covering the biggest announcements — follow along below. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ET to kick off Google IO, the company's annual developer conference. This story is available exclusively to Business Insider subscribers.
Persons: —, it's, Sundar Pichai Organizations: Google, Service, Business
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