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☆ The world's top chipmakers can flip a 'kill switch' should China invade Taiwan, Bloomberg reports
▼ + stars: | 2024-05-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewTwo of the world's most important chip companies can flip a "kill switch" remotely on their most advanced chipmaking machines should China invade Taiwan, Bloomberg reported on Tuesday, citing people familiar with the matter. The Netherlands's ASML — Europe's top tech company by market value — supplies advanced machines to chip-making companies. The US has also pressured the Netherlands to block some ASML exports to China to limit the country's ability to manufacture advanced chips. The Dutch company has also said it will stop servicing some equipment previously exported to China. Rising concerns over Taiwan Strait developmentsThere are concerns about China's intensifying drills around Taiwan after Taiwan inaugurated its new President, William Lai — whom Beijing has branded as a separatist — on Monday.

Persons: —, Taiwan's, ASML, William Lai —, Li Xi, Jensen Huang, TSMC Organizations: Service, Bloomberg, Business, East, Dutch, China's People's Liberation Army, Nvidia Locations: China, Taiwan, Washington, Beijing, Netherlands, Arizona, Japan, Germany, ASML

☆ Meta names four men to a new tech advisory council, months after disbanding its Responsible AI division
▼ + stars: | 2024-05-23 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Meta formed a product advisory council six months after disbanding its Responsible AI division. Four white male tech execs sit on the new council, called Meta Advisory Group. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMeta announced the formation of a product advisory council on Wednesday, six months after it disbanded its Responsible AI division. The Meta Advisory Group consists of four executives: payment platform Stripe CEO Patrick Collison, former GitHub CEO Nat Friedman, Shopify CEO Tobi Lütke, and former Microsoft executive Charlie Songhurst.

Persons: Meta, —, Patrick Collison, Nat Friedman, Shopify, Tobi Lütke, Charlie Songhurst Organizations: Meta, Service, Microsoft, Business

☆ CNBC Daily Open: Nvidia shares top $1,000 on AI boom
▼ + stars: | 2024-05-23 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia to split stock, sales to soarShares of Nvidia rose more than 7%, topping $1,000 for the first time, in after-hours trading after its first-quarter earnings and sales beat analysts' expectations. The company plans to split its stock 10 for 1. The media outlet went public in 2021 and has seen its shares fall 94% since then.

Persons: OpenAI, Vivek, Vivek Ramaswamy, Ramaswamy, Goldman Sachs Organizations: CNBC, Nvidia, Dow Jones, Nasdaq, Dow, Google, GOP, Securities and Exchange Commission

☆ The Washington Post publisher disclosed the paper lost $77 million last year. Here’s his plan to turn it around
▼ + stars: | 2024-05-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Lewis’ plan, however, included more than just revamping The Post’s subscription offerings. While The Post clearly plans to bet big on infusing its products with A.I., it wants to emphasize the human element of its journalism. Whether the multi-pronged initiative is enough to turn The Post around, of course, remains to be seen. But the new publisher voiced confidence that these measures will put The Post on track for success. “I really hope at some point in the future, when you look back on this day,” he told staffers, “it’s actually quite a significant day in the history of our company.”

Persons: Will Lewis, strode, Lewis, “, ” Lewis, I’m, Axios, we’ve, ” Karl Wells, Lewis ’, Vineet Khosla, ”, Sally Buzbee, Kathy Baird, “ it’s Organizations: New York CNN, The Washington Post, Brit, Apple, POLITICO, Silicon Locations: New York

☆ Big Tech goes on AI charm offensive in Europe as regulators circle
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.

Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S

Another group recently compared messages translated by humans and A.I. A Democratic firm tested four versions of a voice-over ad — two spoken by humans, two by A.I. The era of artificial intelligence has officially arrived on the campaign trail. With less than six months until the 2024 election, the political uses of A.I. The Biden campaign said it has strictly limited its use of generative A.I.

Persons: Biden, Trump Organizations: Democratic Locations: Mississippi

☆ How family offices are planning to invest now and in the next 5 years, according to UBS
▼ + stars: | 2024-05-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Here's how family offices are investing this year and how they plan to change their allocations in the next five years, according to UBS' Global Family Office Report 2024. Family offices plan to maintain the same allocation for 2024 – at 16%. Real estate Apart from fixed income, real estate was the other big change in how family offices invested last year, according to UBS. But family offices plan to increase the real estate part of their portfolios — to 12% in 2024, according to the report. Elsewhere, family offices are investing in Western Europe – in sectors such as luxury goods and automation, and in Asia Pacific (35%).

Persons: That's Organizations: UBS, Global, –, Globally, Koh Locations: North America, U.S, Western Europe, Asia, Greater China

☆ The world's top chipmakers can push a 'kill switch' should China invade Taiwan, Bloomberg reports
▼ + stars: | 2024-05-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewTwo of the world's most important chip companies can push a "kill switch" remotely on their most advanced chipmaking machines should China invade Taiwan, Bloomberg reported on Tuesday, citing people familiar with the matter. The Netherlands's ASML — Europe's top tech company by market value — supplies advanced machines to chip-making companies. The US has also pressured the Netherlands to block some ASML exports to China to limit the country's ability to manufacture advanced chips. Rising concerns over Taiwan Strait developmentsThere are concerns about China's intensifying drills around Taiwan after Taiwan inaugurated its new President, William Lai — whom Beijing has branded as a separatist — on Monday. But Nvidia CEO Jensen Huang told Bloomberg TV on Tuesday that that the world's tech sector is likely to continue depending on Taiwanese manufacturing for "some time."

Persons: —, Taiwan's, ASML, William Lai —, Li Xi, Jensen Huang Organizations: Service, Bloomberg, Business, East, Dutch, China's People's Liberation Army, Nvidia Locations: China, Taiwan, Washington, Beijing, Netherlands, Arizona, Japan, Germany

☆ AI will change jobs, but the growth is more important, France's digital affairs minister says
▼ + stars: | 2024-05-23 | 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 EmailAI will change jobs, but the growth is more important, France's digital affairs minister saysMarina Ferrari, France's secretary of state for digital affairs, discusses the potential risks and benefits of artificial intelligence on a panel with CNBC's Karen Tso at VivaTech in Paris.

Persons: Marina Ferrari, Karen Tso Locations: VivaTech, Paris

All eyes on NvidiaDespite concerns about stubbornly high inflation, elevated interest rates and ballooning U.S. debt, the S&P 500 is trading at a record on Wednesday, having soared 27 percent over the past year. Among the factors driving the rally, few are bigger than the boom in stocks tied to artificial intelligence — and the biggest of all of those is Nvidia. Investors have high hopes for Nvidia’s earnings on Wednesday. Expect a torrent of trading when the chip maker reports results for its fiscal first quarter after market close. A year ago, Nvidia’s stock jumped more than 24 percent after it posted knockout earnings.

Organizations: Nvidia, Investors

☆ AI is 'undoubtedly killing some jobs,' Publicis chairman says
▼ + stars: | 2024-05-22 | 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 EmailAI is 'undoubtedly killing some jobs,' Publicis chairman Maurice Lévy saysMaurice Lévy, chairman of Publicis, weighs in on the rise of artificial intelligence, which he says will "undoubtedly" kill some jobs but will ultimately be a net positive.

Persons: Maurice Lévy

☆ Amazon plans to give Alexa an AI overhaul — and a monthly subscription price
▼ + stars: | 2024-05-22 | by ( Kate Rooney | ) www.cnbc.com time to read: +4 min

Amazon is upgrading its decade-old Alexa voice assistant with generative artificial intelligence and plans to charge a monthly subscription fee to offset the cost of the technology, according to people with knowledge of Amazon's plans. Amazon's subscription for Alexa will not be included in the $139 per year Prime offering, and Amazon has not yet nailed down the price point, one source said. The Alexa team worried they had invented an expensive alarm clock, weather machine and way to play Spotify music, one source said. When reached for comment, Amazon pointed to the company's annual shareholder letter released last month. It has undergone a massive reorganization, with much of the team shifting to the artificial general intelligence, or AGI, team, according to three sources.

Persons: OpenAI, Siri, Apple's, Scott Galloway, Alexa, Jeff Bezos, Andy Jassy, Jassy, Alexa didn't Organizations: Alexa, Google, Amazon, Gemini, iPhones, NYU, Spotify Locations: Seattle

☆ Humane AI is reportedly looking for a buyer, just weeks after its disastrous wearables launch
▼ + stars: | 2024-05-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Humane is exploring a sale, seeking $750 million to $1 billion, Bloomberg reported. The AI startup, valued at $850 million in 2023, hired a financial adviser for the process. AdvertisementOn the heels of its widely-panned wearables launch, artificial intelligence startup Humane is looking for a buyer, Bloomberg reported Tuesday. The company, which The Information reported was valued last year at $850 million, is seeking a price of $750 million to $1 billion, Bloomberg reported. The outlet said Humane hired an unnamed financial adviser for the process and that it may not result in a deal.

Persons: — Organizations: Bloomberg, Service, Business

☆ AI will power the stock market for the next decade, former Cisco CEO says
▼ + stars: | 2024-05-22 | by ( April Roach | ) www.cnbc.com time to read: +2 min

John Chambers, CEO of Cisco, at the 2015 CGI Annual Meeting in New York. Adam Jeffery | CNBCArtificial intelligence will power the stock market for the next decade, former Cisco CEO John Chambers told CNBC on Wednesday. "AI will power the stock market for the next decade," Chambers told CNBC's Karen Tso on the sidelines of the VivaTech conference in Paris. watch nowChambers said 38% of venture capital in the U.S. in the first quarter went into AI stocks. Chambers compared Nvidia's place in the AI market to Cisco's position in the internet market.

Persons: John Chambers, Adam Jeffery, Chambers, CNBC's Karen Tso, Maurice Lévy, Lévy Organizations: Cisco, CNBC, JC2 Ventures, Nvidia Locations: New York, Paris, U.S, Europe

☆ Another OpenAI employee announced she quit over safety concerns hours before two exec resigned
▼ + stars: | 2024-05-22 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

OpenAI faces more turmoil as another employee announces she quit over safety concerns. It comes after the resignations of high-profile executives Ilya Sutskever and Jan Leike, who ran its now-dissolved safety research team Superalignment. Krueger wrote, "I resigned a few hours before hearing the news about @ilyasut and @janleike, and I made my decision independently. I resigned a few hours before hearing the news about @ilyasut and @janleike, and I made my decision independently. Kokotajlo said he left after "losing confidence that it [OpenAI] would behave responsibly around the time of AGI."

Persons: Ilya Sutskever, Jan Leike, Gretchen Krueger, Krueger, — Gretchen Krueger, Leike, OpenAI, Daniel Kokotajlo, William Saunders, Kokotajlo, OpenAI didn't Organizations: Business

☆ BuzzFeed stock soars after Vivek Ramaswamy acquires activist stake
▼ + stars: | 2024-05-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

New York CNN —BuzzFeed’s stock is soaring after former Republican presidential candidate Vivek Ramasamy revealed that he’s taken an activist stake in the beleaguered media company in a bid to adjust the firm’s strategy. Shares of BuzzFeed gained about 20% on Wednesday after a securities filing revealed that Ramaswamy has acquired a 7.7% stake in the company. Ramaswamy “believes the securities of the Issuer are undervalued and represent an attractive investment opportunity,” the filing. BuzzFeed’s portfolio of brands includes HuffPost, Tasty and the First We Feast brand that houses its “Hot Ones” YouTube series. Last year, BuzzFeed shuttered its Pulitzer Prize-winning digital news site as part of a broader move to slash the company’s headcount by 15%.

Persons: Vivek Ramasamy, he’s, Ramaswamy, ” Ramaswamy, Tricia McLaughlin, BuzzFeed, Ramaswamy “ Organizations: New, New York CNN, Republican, BuzzFeed, CNN, Networks Locations: New York

☆ DocuSign chief says company wants to stay public after reports of private equity takeover interest
▼ + stars: | 2024-05-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. Contract management platform DocuSign is committed to remaining a public company and is working to convince investors of its artificial intelligence potential, CEO Allan Thygesen told CNBC, after reports suggested the firm had been the target of takeover interest from private equity suitors. "We're focused on building a great, independent public company," Thygesen told CNBC in an interview earlier this week at a partner event the company held in London. "I joined DocuSign as a public company, it's a very exciting time right now, so that's our plan." Bain Capital and Hellman & Friedman were unavailable for comment when contacted by CNBC.

Persons: Allan Thygesen, We're, Thygesen, DocuSign, Bain, Friedman Organizations: CNBC, Bain Capital, Hellman, Reuters, Bloomberg Locations: Dobbs Ferry , New York, London, DocuSign

☆ Ex-Google CEO Eric Schmidt has an easy solution to the terrifying idea of AI with free will
▼ + stars: | 2024-05-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

At VivaTech in Paris, Eric Schmidt shared some unsettling predictions about the dangers of AI. The former Google CEO said if computers developed free will, "we're going to unplug them." AdvertisementEric Schmidt made some unsettling predictions Wednesday about AI while speaking at the annual VivaTech conference in Paris. Schmidt acknowledged that the development of AI posed dangers but said the biggest threats hadn't arrived yet. If and when those threats do materialize, Schmidt seems to think the world will have a way to deal with it.

Persons: Eric Schmidt, —, he's, Schmidt, hadn't Organizations: Google, Service, Business Locations: VivaTech, Paris

☆ News Corp. and OpenAI strike 'multi-year global partnership' deal to use journalistic content to improve ChatGPT
▼ + stars: | 2024-05-22 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

on Wednesday announced a "multi-year global partnership" that will allow OpenAI to access current and archived articles from News Corp.'s outlets, including The Wall Street Journal, MarketWatch, Barron's, The New York Post and more. As part of the deal, OpenAI will be able to display content from News Corp.-owned outlets within its ChatGPT chatbot, in response to user questions. The news follows Reddit's announcement on Thursday that it will partner with OpenAI, allowing the ChatGPT maker to train its AI models on Reddit content. As part of that deal, OpenAI will gain access to Reddit's Data application programming interface, or API, "which provides real-time, structured, and unique content from Reddit," according to a release. Google announced a similar partnership with Reddit in February, allowing the company to train its AI models, such as Gemini, on Reddit content via access to the platform's API.

Persons: Sam Altman, Robert Thomson, OpenAI, Reddit, Mira Murati, Murati Organizations: Economic, News Corp, Wednesday, Street, The New York Post, News, Google, Reddit Locations: Davos, Switzerland, OpenAI, The, OpenAI's

☆ China's Honor will have Google AI features, including Gemini, on its upcoming smartphones
▼ + stars: | 2024-05-22 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Honor will integrate generative AI experiences into its forthcoming hardware, which will be powered by Google Cloud, the company said. A spokesperson for the Chinese firm told CNBC that this would include Google's AI assistant Gemini, as well as Imagen 2, a text-to-image generation tool. Smartphone makers are attempting to bring AI features to their phones, in a bid to get users to upgrade to their latest flagship devices. The integration with Google's AI features builds on Honor already running the U.S. firm's operating system Android on its smartphones. Designing advanced generative AI features can be difficult for individual smartphone makers, so partnering with Google gives them a shortcut to the latest generative AI apps that employ the tech.

Persons: George Zhao, Gemini Organizations: CNBC, Mobile, Congress, Google, Samsung, Gemini

☆ OpenAI Strikes a Deal to License News Corp Content
▼ + stars: | 2024-05-22 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: +1 min

News Corp, the Murdoch-owned empire of publications like The Wall Street Journal and The New York Post, announced on Wednesday that it had agreed to a deal with OpenAI to share its content to train and service artificial intelligence chatbots. News Corp said the multiyear agreement would allow OpenAI to use current and archived news content from News Corp’s major news outlets, including brands in the United States, United Kingdom and Australia as well as MarketWatch and Barron’s. The agreement does not include content from News Corp’s other businesses, such as its digital real estate services or HarperCollins. The Wall Street Journal reported the agreement could be worth as much as $250 million over five years, citing unnamed sources. A News Corp spokesman declined to comment on the reporting.

Persons: Murdoch, OpenAI, “, ” Robert Thomson, Sam Altman, ”, ” Mr, Altman Organizations: Corp, Street, The New, The New York Post, . News Corp, HarperCollins, News Corp, Street Journal Locations: The New York, United States, United Kingdom, Australia

☆ FCC is considering AI rules for political ads
▼ + stars: | 2024-05-22 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

Washington CNN —The Federal Communications Commission is taking initial steps toward new rules that could require political ads on TV and radio to include disclaimers about the use of artificial intelligence. Under the proposed rules, political advertisers on those mediums would have to make on-air disclosures if their ads contain AI-generated content. The FCC move seeks to fill a yawning gap in the regulation of artificial intelligence in political advertising. In March, a bipartisan proposal by Minnesota Democratic Sen. Amy Klobuchar and Alaska Republican Sen. Lisa Murkowski unveiled the AI Transparency in Elections Act, which could require AI disclaimers on political ads. Online platforms such as Meta have taken their own steps to address AI in political ads, requiring campaigns to disclose the use of deepfakes and banning the use of its in-house generative AI tools for political advertising.

Persons: Jessica Rosenworcel, ” Rosenworcel, I’ve, ”, “, Minnesota Democratic Sen, Amy Klobuchar, Alaska Republican Sen, Lisa Murkowski, Chuck Schumer Organizations: Washington CNN, Federal Communications Commission, “, FCC, Federal, FEC, Minnesota Democratic, Alaska Republican, Meta Locations: Alaska, New York

☆ AI will power the stock market for the next decade, former Cisco CEO John Chambers says
▼ + stars: | 2024-05-22 | 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 EmailAI will power the stock market for the next decade, former Cisco CEO John Chambers saysJohn Chambers, the former CEO of Cisco, says that artificial intelligence will "power the stock market over the next decade," adding that the technology is the reason why the stock market has moved so dramatically over the past 12 months.

Persons: John Chambers Organizations: Cisco

☆ Nvidia’s incredibly pricey shares are about to get much cheaper
▼ + stars: | 2024-05-22 | by ( Samantha Delouya | Clare Duffy | ) edition.cnn.com time to read: +3 min

CNN —Nvidia announced a 10-for-1 stock split on Wednesday, making buying shares in the red-hot semiconductor company more accessible for individual investors. Five years ago, an investor could have purchased Nvidia stock for less than $50 a share. Nvidia’s (NVDA) announcement, which came in its quarterly earnings report, means that each common share will be split into 10 smaller shares, effectively cutting the price of investing in the company. Nvidia shares rose as much as 4% in after-hours trading following the report. Still, some investors had raised questions ahead of Wednesday’s report about just how long Nvidia could keep the rally going.

Persons: Nvidia’s, ”, Thomas Monteiro Organizations: CNN, Nvidia, Microsoft Locations: China

☆ Nvidia shares pass $1,000 for first time on AI-driven sales surge
▼ + stars: | 2024-05-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Earnings Per Share : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. Revenue: $26.04 billion vs. $24.65 billion expected by LSEG Nvidia said it expected sales of $28 billion in the current quarter. Wall Street was anticipating earnings per share of $5.95 on sales of $26.61 billion, according to LSEG. Nvidia said its data center category rose 427% from the year-ago quarter to $22.6 billion in revenue.

Persons: Jensen Huang, Blackwell, Nvidia, David Paul Morris, Colette Kress, Lama, Kress Organizations: Nvidia, Nvidia Corp, Technology Conference, Bloomberg, Getty, Google, Microsoft, Meta Locations: San Jose , California

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