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☆ Buthidaung: Fires rage as Rohingya caught up on the front lines of Myanmar’s civil war
▼ + stars: | 2024-05-23 | by ( Helen Regan | Avery Schmitz | ) edition.cnn.com time to read: +11 min

This satellite image shows Buthidaung, Myanmar, on January 17, 2024. © 2024 Maxar Technologies This satellite image shows Buthidaung, Myanmar, on May 18, 2024. This satellite image shows a damaged bridge in Buthidaung, Myanmar, on May 18, 2024. Warnings of further atrocitiesAn immediate concern is a humanitarian crisis in Rakhine state, with newly displaced residents unable to access food or clean water. The Myanmar military has blocked all access,” said Nay San Lwin.

Persons: Farooq, ”, Young, Volker Türk, Kyaw, –, Buthidaung –, “, John Quinley, Khaing, Lwin, Rohingya, Pan, Matthew Miller Organizations: CNN, Arakan Army, AA, Resource Management, Free Rohingya Coalition, International Court of Justice, Council, Myanmar, UN Human Rights Council, National Unity Government, Free Rohingya Coalition –, Maxar Technologies, “, ” CNN, Bangladesh, Labs, Medecins, Rakhine . State Department, Unity Government Locations: Myanmar’s, Myanmar, Rakhine, Arakan, Bangladesh, Buthidaung, Lwin, Indonesia, San Lwin, Rakhine State

☆ Jack Dorsey doesn't think that Twitter is 'the closest form of global consciousness' anymore
▼ + stars: | 2024-05-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Jack Dorsey used to think that Twitter was "the closest form of global consciousness." "They have far more access to public and private thoughts and questions," he said. AdvertisementX, formerly Twitter, isn't the "closest form of global consciousness" anymore, says the platform's co-founder and ex-CEO Jack Dorsey. "I once thought Twitter was the closest form of global consciousness," Dorsey, 47, said in an X post on Wednesday. "They have far more access to public and private thoughts and questions."

Persons: Jack Dorsey, —, Twitter, Dorsey Organizations: Service

☆ A psychology expert’s No. 1 tip on how to use your fear of death to live your best life
▼ + stars: | 2024-05-23 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +1 min

The thought of no longer existing is too painful and grim for many to bear and is frequently avoided, but one psychology expert thinks people need to face their fear of death head-on to live more fulfilling lives. "Most people like to count their money and I like to say how about we also count our Mondays?" This serves as a reminder of the scarcity of time, pushing people to take action in their lives. When you remember how many days you have left, you're more likely to book that tennis lesson. "If you were going to die tonight what would you wish you had taken action on?

Persons: Jodi Wellman, Wellman Organizations: CNBC, University of Pennsylvania

☆ Discovery Dunes: Dubai’s ultra-luxury desert community is selling plots for up $50 million
▼ + stars: | 2024-05-22 | by ( Leah Collins | ) edition.cnn.com time to read: +4 min

CNN —Luxury real estate development company Discovery Land Company (DLC) has quietly launched a multi-million-dollar, ultra-luxury residential community in Dubai, where the most expensive plot of land will cost up to $50 million. Discovery Dunes will be DLC’s debut ultra-luxury residency in the Middle East. Discovery Land CompanyCustomizable comfortPerhaps the most coveted aspect of the exclusive community is its scope for customization. “The villas here at Discovery Dunes are extremely customized,” a representative of Discovery Land Company told CNN in an interview. Discovery Dunes is the latest of DLC’s ’s planned projects in the region and across the globe, including new sites in Europe, Portugal and Central America.

Persons: Tom Fazio, ”, Mike Meldman, Olson Kundig – Organizations: CNN, Discovery Land Company, Discovery, Edition, Discovery Land, “, San Locations: Dubai, ”, Discovery, Burj, Italy, Brazil, Argentina, San Diego, UAE, Burj Khalifa, Europe, Portugal, Central America

☆ DeepL, a European rival to Google Translate, rides AI hype to a $2 billion valuation
▼ + stars: | 2024-05-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Launched in 2017 by founder and CEO Jaroslaw "Jarek" Kutylowski, DeepL is a competitor to Google Translate. At $2 billion, DeepL is now worth double what it was in its previous round in January 2023, when it raised $100 million from investors at a $1 billion valuation. ICONIQ Growth and Teachers' Venture Growth came on board as new investors, while existing investors IVP, Atomico and WiL also participated. "We're really expanding our product toward being able to support these bigger enterprise customers," Kutylowski said. The company has ramped up its focus on selling into enterprise over the past few years and now counts customers including Zendesk, Nikkei, Coursera and Deutsche Bahn.

Persons: Kutylowski, Jaroslaw, WiL, PARIS —, I'm, DeepL Organizations: CNBC, Google, Venture, PARIS, Zendesk, Nikkei, Coursera, Deutsche Bahn Locations: Atomico, Swiss, U.S, Asia

☆ Emory students won a $10,000 prize for their AI tool. Then the university punished them.
▼ + stars: | 2024-05-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

Read previewEmory University students created an artificial intelligence-driven study tool last year. The business school highlighted them on social media. Emory said the duo violated the school's honor code, because students could use Eightball in ways that would breach it. But in October, Emory told the developer that he may have violated the honor code, per Craver's lawsuit. In November, Emory told Craver that it was weighing five honor code violations for him.

Persons: —, they'd, Emory, Benjamin Craver, haven't, cofounders, Craver, Ben Organizations: Service, Emory University, Business, Emory, Student Locations: Spanish

☆ Light Street's Glen Kacher: Nvidia looks really tasty
▼ + stars: | 2024-05-22 | 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 EmailLight Street's Glen Kacher: Nvidia looks really tastyGlen Kacher, Light Street Capital founder, joins 'Closing Bell' to discuss the sustainability of the AI rally and outlook for the technology.

Organizations: Nvidia, Capital

☆ 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

☆ 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

☆ ‘Silicon Valley Princess’: Inside the Life of Nicole Shanahan, R.F.K. Jr.’s Running Mate
▼ + stars: | 2024-05-22 | by ( Kirsten Grind | ) www.nytimes.com time to read: +1 min

Ms. Shanahan, 38, a onetime Silicon Valley lawyer, has never held public office and has scant name recognition. But she was selected after Mr. Rodgers and Mr. Ventura fell through as vice-presidential candidates and Mr. Kennedy’s campaign needed money to fund its efforts to get onto state ballots, three people familiar with the events said. And money was something that Ms. Shanahan could provide in abundance. During their five-year marriage, Ms. Shanahan partied with Silicon Valley’s elite and used recreational drugs including cocaine, ketamine and psychedelic mushrooms, according to eight people and documents reviewed by The New York Times. Ms. Shanahan and Mr. Brin separated after she had a sexual encounter with Elon Musk in 2021, three of the people said.

Persons: Robert F, Kennedy Jr, Aaron Rodgers, Jesse Ventura, Kennedy, Nicole Shanahan, Ms, Shanahan, Rodgers, Ventura, Sergey Brin, Brin, Elon Musk Organizations: Google, The New York Times Locations: Minnesota

☆ This millennial plans weddings for India's rich and famous — don't overlook these 3 financial rules, she says
▼ + stars: | 2024-05-22 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +2 min

Ahead of their big day, Ambani and Merchant threw a lavish three-day pre-nuptial bash in March. "The three biggest moments, culturally, for India are Bollywood, cricket and weddings," Mehak Sagar, co-founder of WedMeGood, told CNBC Make It. The Indian wedding industry is estimated to have brought in about 4.74 trillion rupees (about $56 billion) during the 2023 wedding season, thus making it a "trillion-dollar enterprise," according to the 2024 Wedding Industry Report by WedMeGood, a wedding planner platform. "Given that it is the fourth largest industry in India — the Indian wedding industry touches maybe 16 to 20 [other] industries," Sagar said. Lavish Indian weddings are no stranger to Tina Tharwani.

Persons: Anant Ambani, Mukesh Ambani, Radhika Merchant, Ambani, Merchant, Bill Gates, Rihanna, Ivanka Trump, Mehak Sagar, WedMeGood, Sagar, Tina Tharwani, Nick Jonas, Priyanka Chopra, Anushka Sharma, Virat, Shaadi Organizations: Microsoft, CNBC, Shaadi Locations: India, Silicon Valley, Mumbai

☆ New York Times: Another controversial flag spotted outside an Alito property
▼ + stars: | 2024-05-22 | by ( John Fritze | ) edition.cnn.com time to read: +3 min

Citing photographs and interviews with neighbors, the Times reports that the “Appeal to Heaven” flag was seen on display at his property last summer. It’s the second revelation in as many weeks about a controversial display outside Alito’s property. Like the inverted US flag, the Appeal to Heaven flag – also known as the Pine Tree flag – was seen during the attack on the Capitol. House Speaker Mike Johnson faced blowback for displaying the same flag outside his office last year before assuming the leadership post. An "Appeal to Heaven" flag is seen outside Speaker Mike Johnson's personal office in the Cannon House Office Buiding on Wednesday, May 22.

Persons: Samuel Alito’s, Donald Trump, ”, Alito, Shay Horse, –, Mike Johnson, Johnson, “, George Washington’s, I’ve, ” Johnson, Mike, Trump, Texas Sen, Ted Cruz, CNN’s Kaitlan Collins, Jim Jordan, Judge Thomas –, Judge Kavanaugh, ” Jordan, CNN’s Manu Raju, CNN’s Piper Hudspeth Blackburn, Morgan Rimmer, Manu Raju Organizations: CNN, Capitol, New York Times, Times, Trump, Capitol ., Cannon, Texas, ” Locations: New Jersey, Virginia, Washington , DC

☆ Sam Bankman-Fried Transferred From Brooklyn Jail
▼ + stars: | 2024-05-22 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of fraud and conspiracy, was transferred out of a Brooklyn detention center on Wednesday morning, his spokesman said. Before the transfer, Mr. Bankman-Fried, 32, told people close to him that he expected to be moved to a federal correctional facility in Mendota, Calif., a person with knowledge of the matter said. A representative for the Bureau of Prisons declined to comment on Mr. Bankman-Fried, citing “privacy, safety and security reasons.” A spokesman for the prosecutors who oversaw Mr. Bankman-Fried’s case did not immediately respond to a request for comment. In a court filing on Wednesday afternoon, Lewis A. Kaplan, the judge overseeing his case, said the court “recommends” that the Bureau of Prisons keep Mr. Bankman-Fried at the Metropolitan Detention Center in Brooklyn. Mr. Bankman-Fried had asked to remain there while he worked on an appeal challenging his conviction.

Persons: Sam Bankman, Bankman, Mark Botnick, ”, Lewis A, Kaplan, “, Fried Organizations: Bureau, Prisons, Metropolitan Detention Locations: Brooklyn, Mendota , Calif

☆ OpenAI is setting off ethical red flags, says Waye Founder Sinead Bovell
▼ + 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 EmailOpenAI is setting off ethical red flags, says Waye Founder Sinead BovellSinead Bovell, Waye founder, joins 'Power Lunch' to discuss AI risks for privacy and regulation.

Persons: Sinead Bovell Sinead Bovell

☆ Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.

Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon

☆ Recession is coming — and a raft of companies will fail, warns elite investor Jeffrey Gundlach
▼ + stars: | 2024-05-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Read previewPrepare for a recession to strike and companies to collapse as stubborn inflation and sticky interest rates take their toll, Jeffrey Gundlach warned. The economy will suffer a prolonged downturn this year or next, the billionaire investor told Fox Business on Tuesday. Persistently higher rates will drive some companies to ruin and tank the wider economy, he predicted. "I think that higher for longer is going to lead to a recession," Gundlach said. "You're not going to take out Tesla necessarily — they might have other problems, but it's not going to be because of interest rates.

Persons: —, Jeffrey Gundlach, Gundlach, Tesla, it's Organizations: Service, Fox Business, Business, DoubleLine

☆ Nory, an Irish AI-powered restaurant management startup, just raised $16 million with this 14-slide pitch deck
▼ + stars: | 2024-05-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Nory, an Irish startup, has raised $16 million in Series A funding led by Accel. Founded in 2020, Nory uses AI to help restaurants manage payroll, inventory, and more. AdvertisementNory, an Irish startup that provides an operating system for restaurants, has raised $16 million in funding. Its SaaS platform aims to bring various business functions, such as payroll, inventory, supply chains, and customer satisfaction in "one place," founder Conor Sheridan told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: —, Conor Sheridan, Jamie Oliver Organizations: Accel, Service, Jamie Oliver Group, Business Locations: Irish, Europe

☆ Compass CEO Robert Reffkin on housing market: We are now seeing 'more sellers than buyers'
▼ + 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 EmailCompass CEO Robert Reffkin on housing market: We are now seeing 'more sellers than buyers'Robert Reffkin, Compass co-founder and CEO, joins CNBC's 'Squawk on the Street' to discuss the latest on the existing home sales report, the health of the housing market, implementation of AI, and more.

Persons: Robert Reffkin

☆ 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

☆ Nvidia shows no signs of AI slowdown after over 400% increase in data center business
▼ + stars: | 2024-05-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Tuesday, March 19, 2024. Nvidia's most important clients for its graphics processing units are the big cloud providers — Amazon Web Services, Microsoft Azure, Google Cloud and Oracle Cloud. For example, CoreWeave, a GPU cloud, is currently quoting $4.25 per hour to rent an Nvidia H100. Huang said Meta has declared its intention to spend billions on 350,000 Nvidia chips, even though the company isn't a cloud provider. Meta's cluster of servers is an example of "essential infrastructure for AI production," Huang said, or, "what we refer to as AI factories."

Persons: Jensen Huang, There's, Nvidia's, Colette Kress, Kress, Huang, Meta, Blackwell, Elon Musk's xAI Organizations: Nvidia Corp, Nvidia, Technology Conference, Web Services, Microsoft, Google, Oracle, NVIDIA, Facebook, Meta, Tesla Locations: San Jose , California

☆ It's not your imagination. Pickleball courts are everywhere
▼ + stars: | 2024-05-22 | by ( Jessica Golden | ) www.cnbc.com time to read: +4 min

In 2017, fewer than half of the largest U.S. cities offered formalized pickleball courts. "We have found New York City parks to really understand the popularity of pickleball and also the need for more courts," said Cannon. We're excited to meet the increasing demand and bring Pickleball Kingdom's premier indoor pickleball to the masses," said Ace Rodrigues, founder and CEO of Pickleball Kingdom. Pickleball courts are also popping up at gyms throughout the country. Life Time, an "athletic country club," currently boasts almost 700 pickleball courts across its 170 U.S. locations.

Persons: Wang Fan, Will Klein, Klein, pickleball, Erica Desai, Mary Cannon, Pickle, Cannon, Desai, Pickleball, Rodrigues, Andre Agassi, Bahram Akradi, Ben Johns, Collin Johns, Anna Bright, Tyson McGuffin, Mike Stobe Organizations: Central Park, China News Service, Getty, Trust, Public, Pickle, Long, PENN, Garden Locations: Central, New York City, pickleball, Louisville , Kentucky, Madison , Wisconsin, Honolulu, Manhattan , Brooklyn, Long Island City, Kingdom, Pickleball, United States, Pickleball Kingdom, U.S, Annapolis , Maryland, Madison

☆ The key levels to watch on Nvidia's stock chart with its big earnings report almost here
▼ + stars: | 2024-05-22 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

That's not a lot of wiggle room if the stock reacts negatively to earnings: if the stock undercuts $915 (and stays below it), the breakout would be nullified. In other words, if an upside gap is filled this time instead, the market could be telling us that something has changed. In other words, NVDA has had many years of success both as a company and as a stock. It would take a lot more than a reaction to a single earnings report to change that. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: it's, we're, That's, NVDA, Frank Cappelleri Organizations: Nvidia

☆ House Democrats investigate if Big Oil colluded with OPEC to inflate gas prices
▼ + stars: | 2024-05-22 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned. The Federal Trade Commission earlier this month accused Sheffield, the founder of Pioneer Natural Resources, of conspiring with OPEC and its allies to boost prices. Pallone argued that public data suggests US oil producers did not ramp up drilling during the period that Sheffield was trying to influence his rivals. Pallone sent Exxon additional document demands, including communications between Pioneer employees who were involved in developing production plans and representatives of OPEC and OPEC+. Sheffield was among the oil CEOs who testified before Pallone’s committee during an April 2022 hearing on Big Oil and gas prices.

Persons: Frank Pallone Jr, ”, Scott Sheffield, “, ” Pallone, Sheffield, Hess, Pallone Organizations: New, New York CNN, Congressional, OPEC, CNN, Committee, Energy, Commerce, ExxonMobil, BP, New Jersey Democrat, Federal Trade Commission, Sheffield, Pioneer Natural Resources, FTC, Oil, Exxon, Chevron, Shell USA, Devon Energy, Big, ” Locations: New York, Chevron, Hess, BP America, New Jersey, Texas, OPEC, Russia, colluding, United States, ”, Occidental

☆ Nvidia announces 10-for-1 stock split after AI-driven boom in share price
▼ + stars: | 2024-05-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday. Stock splits do nothing to change the financial fundamentals of a company but they so make each share cheaper, which can have a positive psychological effect on retail investors. Nvidia said the stock split will make ownership "more accessible to employees and investors," the release said. Nvidia shares closed on Wednesday at $949.50. Alphabet , Amazon and Tesla all orchestrated stock splits in 2022.

Persons: Jensen Huang Organizations: Nvidia Corp, Nvidia, Technology Conference Locations: San Jose , California

☆ Netflix founder says he almost dropped out of Stanford for a different business: 'I was equally as committed to that terrible idea'
▼ + stars: | 2024-05-22 | by ( Megan Sauer | ) www.cnbc.com time to read: +1 min

Before co-founding Netflix, Reed Hastings thought another of his business ideas would become a household name. Specifically, it was a "foot mouse" — where users could control a computer cursor with their feet, Hastings said at a recent Stanford Graduate School of Business event. "It was a terrible idea, but I was equally committed to that terrible idea as I was to Netflix," he said. In the case of the foot mouse, Hastings was a Stanford graduate student at the time, working toward his master's in computer science. He even hired a mechanical engineering graduate student to mockup a prototype.

Persons: Reed Hastings, Hastings, he's Organizations: Netflix, Stanford Graduate School of, Wired, Stanford

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