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Nvidia, which makes microchips that power most artificial intelligence applications, began an extraordinary run a year ago. Fueled by an explosion of interest in A.I., the Silicon Valley company said last May that it expected its chip sales to go through the roof. They did — and the fervor didn’t stop, with Nvidia raising its revenue projections every few months. Its stock soared, driving the company to a more than $2 trillion market capitalization that makes it more valuable than Alphabet, the parent of Google. On Wednesday, Nvidia again reported soaring revenue and profits that underscored how it remains a dominant winner of the A.I.
Persons: sevenfold Organizations: Nvidia, Google, Revenue Locations: A.I
When members of the Kennedy family joined President Biden in Philadelphia to endorse his re-election — and denounce the presidential candidacy of the best-known Kennedy of this generation, Robert F. Kennedy Jr. — one person stepped forward to make the family’s case: his younger sister Kerry. “Nearly every single grandchild of Joe and Rose Kennedy supports Joe Biden,” Ms. Kennedy said as her siblings, and Mr. Biden, flanked her onstage. “That’s right: The Kennedy family endorses Joe Biden for president.”That was not the first time that Ms. Kennedy, the seventh child of Robert and Ethel Kennedy, had been the face of the family’s pushback against her brother. As Mr. Kennedy has emerged as a skeptic of Covid-19 vaccines and a purveyor of conspiratorial theories on the assassination of his father, it has fallen to Ms. Kennedy to distance her family from the brother she has long held close and to guard the legacy of a proud and private family as it fades from the political stage. It is political as well: She argues that her brother’s insurgent campaign threatens the re-election of Mr. Biden and is aware that her family could shoulder some of the blame should Donald J. Trump return to the White House next year.
Persons: Kennedy, Biden, , Robert F, Kennedy Jr, Kerry, , Joe, Rose Kennedy, Joe Biden, ” Ms, Robert, Ethel Kennedy, Kennedy’s, Mr, Donald J, Trump, White Locations: Philadelphia, Hickory Hill, Va,
Dabney Coleman, an award-winning television and movie actor best known for his over-the-top portrayals of garrulous, egomaniacal characters, died on Thursday at his home in Santa Monica, Calif. His daughter Quincy Coleman confirmed the death to The New York Times but did not cite the cause. At a time when antiheroic leads, with the outsize exception of Carroll O’Connor’s Archie Bunker, were a rarity on television comedies, Mr. Coleman’s distinctly unlikable Bill Bittinger on “Buffalo Bill” was an exception. A profile of Mr. Coleman in Rolling Stone called Bill “a rapscallion for our times, a playfully wicked combination of G. Gordon Liddy and Groucho Marx.” (“He has to do something terrible,” Bill’s station manager said of him in one episode. “It’s in his blood.”)
Persons: Dabney Coleman, Quincy Coleman, Coleman, antiheroic, Carroll O’Connor’s Archie Bunker, Coleman’s, Bill Bittinger, Buffalo Bill ”, Rolling Stone, Bill “, Gordon Liddy, Groucho Marx, , “ It’s Organizations: New York Times, NBC, Buffalo Locations: Santa Monica, Calif, Buffalo
The House passed the Transparency in Charges for Key Events Ticketing Act on Wednesday in an effort to increase price transparency for consumers. The TICKET Act would require sellers to list the total cost of a ticket to buyers, including fees. The bill would prohibit deceptive websites used by secondary sellers and require sellers to provide refunds if an event is canceled. There is a related bill in the Senate, also called the TICKET Act, that seeks to give consumers similar protections. The TICKET Act was first introduced by Rep. Gus Bilirakis, R-Fla., in June 2023.
Persons: Taylor, Gus Bilirakis, Bilirakis Organizations: Senate, Lawmakers, Ticketmaster, House Energy, Commerce
Typically, price increases are a slow-moving process, so it is rare to see core inflation accelerate this much this quickly. The Survey of Professional Forecasters has found longer-run expectations for inflation have leveled out at 2% — the Fed's target. These one-offs have had an outsize impact on the overall inflation picture. Ahead of 2024, the contribution from acyclical components to core inflation was essentially zero. The strong growth in private demand suggests that second-quarter GDP could be even more robust.
Persons: I've Organizations: America, Federal Reserve, PCE, Atlanta Fed Locations: Real
Frank Stella, whose laconic pinstripe “black paintings” of the late 1950s closed the door on Abstract Expressionism and pointed the way to an era of cool minimalism, died on Saturday at his home in the West Village of Manhattan. Mr. Stella was a dominant figure in postwar American art, a restless, relentless innovator whose explorations of color and form made him an outsize presence, endlessly discussed and constantly on exhibit. Few American artists of the 20th century arrived with quite his éclat. He was in his early 20s when his large-scale black paintings — precisely delineated black stripes separated by thin lines of blank canvas — took the art world by storm. Writing in Art International magazine in 1960, the art historian William Rubin declared himself “almost mesmerized” by the “eerie, magical presence” of the paintings.
Persons: Frank Stella, Harriet E, McGurk, Stella, William Rubin, Organizations: of, Art International Locations: West, of Manhattan
Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.
Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock
Within weeks, the two-year-old US Affordable Connectivity Program (ACP) is set to run out of funds, and Congress appears unlikely to authorize more. Even as many older and rural Americans may be thrust into financial hardship due to the ACP’s collapse, indigenous communities could fare even worse. Because tribal members can now work remotely, they are no longer forced to move away from their communities to seek opportunity, they told CNN. For example, Mitchell said, after decades of decline in Mohawk fluency, a growing number of tribal members are now involved in online language immersion. (AP Photo/Seth Wenig) Seth Wenig/AP/FileInstead, some say, the collapse of the ACP will become another stain on the US government’s centuries-long track record of breaking promises to tribal communities.
Persons: Kelly, , , “ That’s, ” Kelly, Mike Johnson, Pennsylvania Democratic Sen, John Fetterman, Fetterman’s, Jonathan Nez, “ I’ve, Loren King, Geoffrey Starks, ” Starks, Allyson Mitchell, Mitchell, Nez, ” Nez, Derrick VanSoolen’s, Choctaw, ” VanSoolen, they’re, Bois, Randy Long, Gary Johnson, Paul, Seth Wenig, I’ll Organizations: Washington CNN, Mohawk, CNN, Connectivity Program, FCC, Pennsylvania Democratic, Federal Communications Commission, Treasury, US Federal Communications Commission, Mohawk Networks, Navajo, ACP, Emergency, Program, Choctaw Nation, Bois Forte, Paul Bunyan Communications Locations: St, Lawrence, New York, Canadian, Mohawk, America, Navajo, Oklahoma, Oklahoma , Arizona, New Mexico, Alaska, South Dakota, Arizona, Minnesota, Regis
Elon Musk has gutted the part of Tesla responsible for building electric vehicle charging stations, sowing uncertainty about the future of the largest and most reliable U.S. charging network. Tesla’s agreements with other makers of electric cars assured buyers that they would be able to find fast chargers on road trips, addressing one of the main reasons that many people are hesitant to buy such cars. It was also seen as a coup for Mr. Musk, validating Tesla’s technology and giving the company outsize influence over the auto industry. Almost all major manufacturers announced plans to switch the hardware and software in their cars to make them compatible with Tesla’s chargers. Ford has been mailing adapters to owners of its older electric vehicles so they can connect to Tesla’s chargers.
Persons: Elon, Tesla Organizations: General Motors, Ford Motor, Ford
CNN —Dramatic campus protests are injecting an inflammatory new element into an election year that is already threatening to stretch national unity to a breaking point. Republicans smell an openingGOP Rep. Elise Stefanik is a driver of the deepening political backlash against campus protests. Republicans are also using the drama of student protests as a shield and to downplay their presumptive nominee’s own extremism. The unrest is so far not comparable since there’s no student mob trying to destroy American democracy. And they are not yet in the same league as the civil rights and Vietnam War protests in the 1960s and 1970s.
Persons: they’ve, Joe Biden, Biden, Israel –, Donald Trump, Trump, , , Fox, “ Biden, appeasing, who’ve, Will, Elise Stefanik, Stefanik, Mike Johnson’s, skewer Biden, ” Stefanik, Johnson, aren’t, ” Johnson, Ronald Reagan, Berkeley ”, Richard Nixon, antisemites, Trump’s, ” Trump, George Floyd, David Farber, Paula Newton, John Kennedy, Barack Obama Organizations: CNN, New York Police Department, Columbia University, , University of California, UCLA, Brown University, Israel, The New York Republican, Harvard, Ivy League, Columbia, National Guard, GOP, Republicans, California, Berkeley, Democratic Party, crackdowns, Capitol, University of Kansas, CNN International, Harvard University Locations: Gaza, America, Texas, Columbia’s, Palestine, Los Angeles, Israel, Rafah, United States, Vietnam, Charlottesville , Virginia
When Google sneezes, the entire online advertising industry catches a cold. Google's announcement Tuesday that it would again delay its planned timeline for killing off third-party tracking cookies had long been anticipated by the digital advertising industry. Google has a 28% share of the online ad market, according to market research firm Emarketer (a sister company to BI). Regulators could step in to resolve the cookie chaosSome industry experts are hoping regulators will step in to untangle the mess. Amid the four years of confusion, chaos, and harumphing, there has been one consistent theme: When it comes to the future of online advertising, Google calls the shots.
Persons: Ciaran O'Kane, WireCorp, hasn't, Sundar Pichai, Stephen Lam, Mathieu Roche, James Rosewell, Google's, haven't, Pierre Devoize, Devoize Organizations: Google, Business, Gmail, Antitrust, US Department of Justice, European Commission, UK's, Markets Authority, CMA, Industry, IAB Tech, EU Google, Chrome, Movement Locations: FirstPartyCapital
Taylor Swift is not known to bite the hand that feeds her. Taylor Swift built her brand as a friendly and relatable pop starA young fan exchanges friendship bracelets with Taylor Swift during The Eras Tour" in Sao Paulo, Brazil. But nearly two decades into her career, the business of Being Taylor Swift has become a billion-dollar industry whose parasocial peanut gallery has grown in size to match. With 'The Tortured Poets Department,' Swift is telling fans they don't actually know herTaylor Swift greeting fans at the 2019 VMAs. John Shearer/Getty Images"The Tortured Poets Department" allows a peek into the inner turmoil of Being Taylor Swift, with all the attention, venom, and possessiveness she attracts.
Persons: Taylor Swift, Swift, Taylor, Little, that's, fame's downsides, Kanye, John Shearer, Matty Healy, Joe Alwyn, Healy, who'd, Swifties, Healy didn't, she's, Swift — Organizations: Recording Academy, Poets Department, Marvel, Department, Spice Locations: Sao Paulo, Brazil
Shoppers in recent years have embraced “buy now, pay later” loans as an easy, interest-free way to purchase everything from sweaters to concert tickets. The loans typically are not reported on consumers’ credit reports, however, or reflected in their credit scores. So in February, when Apple announced it would start reporting loans made through its Apple Pay Later program to Experian, one of the three major U.S. credit bureaus, it looked like a watershed moment for the fast-growing “buy now, pay later” category. But none of the other major pay-later providers have followed Apple’s lead. And while credit bureaus and lenders say they are interested in finding a way to work together, the gulf between the two sides remains wide — so much so that some pay-later firms are exploring creating an alternative credit bureau to handle their loans.
Organizations: Apple
Read previewAustin Walters started SpringTide Ventures in 2018 to disrupt healthcare by democratizing access to health innovations. The firm just closed its second $65 million fund to make more of those bets. A tough fundraising environmentAfter closing on its first $20 million fund, which the firm began investing out of in 2019, SpringTide originally set a $100 million target in 2021 for its second fund, Walters said. SpringTide picks a different focus area each time — most recently, home health, where the firm has invested in companies like family primary care startup Nest Health. By solving significant problems with advanced technologies, these companies have natural competitive advantages that allow them to drive outsize returns for the firm, Walters said.
Persons: , Austin Walters, Walters, Henry Ford, We're, SpringTide, Justin Hackworth Photgraphy SpringTide, OpenLoop, outsize, SpringTidew hasn't, " Walters Organizations: Service, SpringTide Ventures, Tiger Global, Sonic Healthcare, Business, Health, Ally Bank, Troomi Wireless Locations: Boston, San Francisco, Salt Lake City, New York
When our Great Americans go, we know how to mourn them. But there’s a Great American subset — where the adventure rocks the infrastructure and the life leaves a gash. In some other realm, the football career and its showbiz afterlife, pitching rental cars and enlivening spoofery, would have warranted the plain-old Great American treatment. Are we still in Great American territory? In a place some call “La La Land,” no less.
Persons: Simpson, What’d, spoofery, O.J, Folks, LeVar Burton, Nicole Brown Simpson, Ronald Goldman, beckoning, Organizations: Great Locations: O.J, Africa, La
Nvidia is in a bubble, stocks will falter, and a recession will hit this year, Jesse Felder said. The markets guru said the microchip frenzy would fade, and stock-market returns would drop off. NEW LOOK 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 . AdvertisementNvidia hype is a bubble that will burst, stocks will disappoint for the next decade or longer, and a recession will strike this year, Jesse Felder said.
Persons: Jesse Felder, , outsize, Felder, Jeff Bezos, Meta's Mark Zuckerberg, Jamie Dimon Organizations: Nvidia, Service, Micron
Elon Musk said he would ignore the order and demanded that Brazil uphold free speech principles. Musk's voice isn't helping the country's debate on free speech, a civil liberties expert told BI. AdvertisementElon Musk is wading into a war with Brazil over orders from the country's Supreme Court to ban certain X accounts that helped spread election misinformation. However, the country's protection of free speech is not absolute, giving the federal government greater discretion to ban certain types of speech — like hate speech. And it's this type of speech that Musk is going to bat for in Brazil — speech that can have serious implications for the country.
Persons: Elon Musk, , Elon, isn't, Musk, Alexandre de Moraes, de Moraes, De Moraes, Jair Bolsonaro, Alimonti, Bolsonaro, Donald Trump, country's, brazenly, Jack Dorsey, Charles Breyer, Musk's, Breyer Organizations: Brazilian, Court, Service, Associated Press, Electronic Frontier Foundation, Nazi, Musk, Business, X Corp, Media Matters Locations: Brazil, China, India, Turkey
Disney fended off the activist investor Nelson Peltz for the second time in two years, as its shareholders rejected his effort to win two seats on its board. The House of Mouse claimed a “substantial” margin of victory, after a bitterly fought contest with Peltz and his major backer, the former Marvel chair Ike Perlmutter. Based on preliminary results from Wednesday’s annual investor meeting, Disney’s board candidates won the backing of 75 percent of individual shareholders, an outsize investor base. But like any good Disney tale, the board fight provided a series of lessons for the future — for companies and activists alike. That included cost-cutting efforts, an investment in the video game giant Epic Games and a shake-up in the struggling movie division.
Persons: Iger, Nelson Peltz, Mouse, Peltz, Ike Perlmutter, Bob Iger Organizations: Disney, Marvel, Wall Street
But Stephen Procter’s large stoneware garden vessels, some as tall as five feet and incorporating 250 pounds of clay, are nevertheless functional pottery — even without the soil and the plants. In the clay world, he said, there’s always talk about functional versus nonfunctional pottery, attempting to draw a line between the two. Mr. Procter, a Vermont-based ceramist, has seen his and other such outsize garden sculptures in action, though. “An object that invites contemplation, and inspires, and offers this kind of mysterious sustenance is functional in a deep and important way,” he said. “Not functional that you’re going to drink your coffee out of it, but the work has high purpose in the landscape and in the world.”
Persons: Stephen, there’s, Procter, Locations: Vermont
Americans used to think of China as a place to do business, and Latin America as a place to vacation. More recently, our neighbors to the south are seen as the source of desperate migrants. I saw evidence of that in Costa Rica, a stable democracy that is vying to become the Silicon Valley of Latin America — with active support from the United States. More than 40 percent of the chips the U.S. Department of Defense uses for weapons systems and infrastructure rely on Chinese suppliers. More than 90 percent of all advanced chips are produced in Taiwan, a self-governing island claimed by China.
Organizations: . Department of Defense Locations: China, America, American, Canada, Mexico, Costa Rica, United States, Taiwan
Radia, a Colorado-based startup, wants to build the world's largest cargo plane. Billed the WindRunner, the plane's sole purpose is to carry oversized wind turbine blades. Its sole purpose: to deliver giant wind turbine blades. A rendering visualizes one of the obstacles of transporting a large wind turbine blade by ground. WindRunner joins the lucrative oversized cargo marketRadia joins the niche network of aerospace companies manufacturing giant planes to carry over-sized cargo, like heavy machinery, military tanks, helicopters, and satellites.
Persons: , Mark Lundstrom —, Radia Radia, Antonov, GLEB GARANICH, Radia, Mark Lundstrom, WindRunner, Ruslan, Jens Schlueter, Robert Sorbo Organizations: Service, MIT, Office of Energy, Renewable Energy, Boeing, Business, Russian, Getty, Aircraft, Airbus, Airbus Beluga Transport Locations: Colorado, Russia, Soviet, Radia, Ukrainian
Airbus' independent cargo airline flew its first BelugaST mission to the US in March. The mammoth BelugaST is deployed to transport oversized items like satellites and helicopters. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The beluga-shaped aircraft carried parts for the manufacturer's family of A320, A330, and A350 planes on behalf of its in-house subsidiary known as Airbus Transport International. This history prompted the founding of Airbus Beluga Transport, or AiBT, in 2022 as a new home for the BelugaST fleet as the planemaker replaced the original jet with the next-generation BelugaXL.
Persons: Organizations: Airbus, Service, Airbus Transport International, ATI, Airbus Beluga Transport Locations: Toulouse, France, Florida
Hong Kong CNN —Picture Vladimir Putin, Angela Merkel and George W. Bush as 7-year-olds. Noemi Cassanelli/CNNAsia’s largest art fair, which concludes Saturday, has returned to “pre-pandemic scale,” as organizers put it. Hong Kong artist Mak2's installation in the fair's "Encounters" section. A colorful booth by Dvir Gallery, based in Paris, Tel Aviv and Brussels, which participated in the Hong Kong fair for the first time. So while Art Basel is a “very international platform,” Chan said, it still provides the chance to showcase homegrown talent.
Persons: Vladimir Putin, Angela Merkel, George W, Bush, , Noemi Cassanelli, Hong, Hong Kong’s, , William Leung, fairgoer, , Ivy Haldeman, François Ghebaly, It’s, it’s, “ It’s, Victoria Miro, Wirth, Mark Bradford, Philip Guston, Ed Clark, ” Keith Tsuji, Willem de Kooning’s, Kooning, Fuyuhiko Takata, Yoko Ono’s, Takata, Fuyuhiko, Louise Delmotte, I’m, ” Takata, fairgoers, Jaume Plensa, Mary Sabbatino, Sabbatino, Mak2, Teppei, Maho Kubota, Alexie, Kantor, Trevor Yeung, Stephen Wong, people’s, Hilda Chan, London’s, ” Chan Organizations: Hong Kong CNN, Art Basel, CNN, , Hauser, Hauser & Wirth, Galerie Lelong, The, Hong, Dvir, Hong Kong, CNN Hong, London’s Tate Locations: Hong Kong, Beijing, Hong Kong ., China, New York, Art Basel Hong Kong, Los Angeles, Asia, American, Spanish, York, Paris, Australian, Paris , Tel Aviv, Brussels, Hong
The bill is similar to Florida’s ban on diversity, equity and inclusion initiatives in public colleges, which was signed into law last May. This political theater lifts up a caricature of college, one on which coddled minds are seduced into liberal ideas. If states become hostile to students’ values, those students could choose to go elsewhere or to forgo college altogether. Part of a larger survey about students’ experiences of higher education, the report left me with one major takeaway: The national debate about so-called woke campuses does not reflect what most college students care about. They underscore how unhinged our national debate over higher education has become and how misaligned Republican-led public higher education systems are with the bulk of college students.
Persons: , haven’t Organizations: Higher Education, Republican, Bills, Public, Lumina Foundation, Gallup Locations: Florida, Alabama
On Tuesday, lawyers for Ms. Lake indicated she would not dispute the facts of a defamation lawsuit that Stephen Richer, the Maricopa County recorder, had filed against her. But they seem to be more durable and pervasive in Maricopa County, home to Phoenix, riling up residents long after campaigns have closed up shop. Credit... Rebecca Noble for The New York TimesThe numbers back up Arizona’s outsize role in election fraud claims. At a news conference on Monday, Gary M. Restaino, the U.S. attorney for Arizona, said seven of the nation’s roughly 18 federal cases regarding election threats involved people targeting Arizona election officials, though the suspects are not Arizonans. Image Bill Gates, a Maricopa County supervisor, during Arizona’s primary presidential election in Phoenix earlier in March.
Persons: Joseph R, Biden, Donald J, Kari Lake, Trump, baselessly, hasn’t, Lake, Stephen Richer, Richer, , , Joshua Garland, Rebecca Noble, Gary M, , Mr, Restaino, Lake’s, ” Mr, they’re, Katie Hobbs, Bill Gates, Gates, Lake —, , ’ ‘, ’ ”, “ It’s Organizations: Republican, Arizona State University, , The New York Times, Arizona, U.S, Supreme, Lake’s Democratic, Mr, Republicans Locations: Arizona, Maricopa, Maricopa County, Phoenix, Georgia, U.S, . Credit, Gitmo
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