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The growth of artificial intelligence is creating a multitrillion dollar opportunity poised to benefit these software and technology stocks, according to Morgan Stanley. Nvidia shares have more than tripled this year as investors bet on the promise of its graphics processing units fueling many AI models. For Alphabet, Morgan Stanley forecasts that every 2% of AI spending could drive 5% upside to the company's cloud platform, and account for $3 billion in incremental revenue by 2026. Within the software space, the Morgan Stanley also highlighted Adobe as a long term beneficiary, noting that generative AI could accelerate EPS growth back toward the mid-high teens. "Generative AI functionality into existing workflows of a broad base of subscribers, enabling stickier customer engagement and opportunity to monetize incremental productivity provided to users," the firm said.
Persons: Morgan Stanley, Keith Weiss, Morgan Stanley's, Joe Moore, — CNBC's Michael Bloom Organizations: Microsoft, Nvidia, NVDA
Sam Bankman-Fried's criminal fraud trial begins in federal court on Tuesday. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."
Persons: Sam Bankman, SBF, , FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda
Here's how firms use "bossware" to keep tabs on employees, from tracking keystrokes to breaks. AdvertisementAdvertisementJPMorgan's dashboard "provides the percentage of days employees were in the office out of the possible eligible days," a description on the company intranet says. AdvertisementAdvertisement"We help companies get peace of mind with productivity analytics," he previously told Insider. Sensors tracking employees' whereabouts in the officeSome employers may even keep tabs on where employees spend the most time in the office. CEO Alex Birch previously told Insider the devices don't identify individuals but render them as dots on a screen.
Persons: , Insider's Eugene Kim, Rob Munoz, Goldman Sachs, it's, Carlo Borja, Insider's Reed Alexander, Alex Birch, Big, It's, Sean Grundy Organizations: Service, JPMorgan, Bevi
Apple is blaming a software bug and other issues tied to popular apps such as Instagram and Uber for causing its recently released iPhone 15 models to heat up and spark complaints about becoming too hot to handle. It didn't specify a timeline for when its own software fix would be issued but said no safety issues should prevent iPhone 15 owners from using their devices while awaiting the update. In its acknowledgement, Apple stressed that the trouble isn't related to the sleek titanium casing that houses the high-end iPhone 15 Pro and iPhone 15 Pro Max instead of the stainless steel used on older smartphones. The downturn has affected iPhone sales, which fell by a combined 4% in the nine months covered by Apple's past three fiscal quarters compared with a year earlier. Apple is trying to pump up its sales in part by raising the starting price for its top-of-the-line iPhone 15 Pro Max to $1,200, an increase of $100, or 9%, from last year's comparable model.
Persons: Uber, Apple, Max Organizations: Apple, Meta, Associated Press Locations: Cupertino , California
High interest rates that caused financing costs for panel installations to surge and enduring supply chain disruptions have stifled residential and corporate solar system orders through much of 2023, hammering sector sentiment. SunPower Corporation (SPWR.O), which for nearly 40 years has been one of the largest U.S. residential solar system installers, has been the downside leader in terms of key solar share prices, dropping by nearly two-thirds year-to-date. The company also expects its leasing business - where it leases instead of sells solar panels to households, and charges homeowners a monthly fee - to show continued growth following a 108% expansion in the second quarter. HOME GROWN PRODUCTIONFirms that specialize in the manufacture of key solar components have also seen steep stock price declines this year. Wall Street trackers are also upbeat on the outlook for First Solar (FSLR.O), which is one the few solar sector companies to have had share prices gain year-to-date.
Persons: Roth, Gavin Maguire, Jamie Freed Organizations: SunPower Corporation, Enphase Energy Inc, Reuters, Thomson Locations: LITTLETON , Colorado, California, U.S, United States, Ohio, Alabama
Circuit Judge Stephanos Bibas sets the stage for what could be one of the first trials related to the unauthorized use of data to train AI systems. "This case continues to be about Ross’ theft of Thomson Reuters proprietary commentary, analysis, and organizational system," the spokesperson said. Thomson Reuters' 2020 lawsuit accused legal research company Ross Intelligence of copying Westlaw's "headnotes," which summarize points of law in court opinions. Thomson Reuters accused Ross of misusing thousands of the headnotes to train its AI-based legal search engine. Bibas also said he could not decide whether a ruling for Ross or Thomson Reuters would best serve the public interest.
Persons: Andrew Kelly, Stephanos Bibas, Ross ’, Ross, Thomson, Bibas, Blake Brittain, David Bario, Lisa Shumaker Organizations: Thomson Reuters, REUTERS, Ross Intelligence, U.S, Circuit, Tech, Meta, Microsoft, Reuters, Thomson Locations: Square , New York, U.S, Delaware, Washington
The new iPhone 15 might appeal to anyone who is upgrading from a model that dates from 2020 or earlier, such as the iPhone 12. Unless you're a hardcore iPhone fan, it's probably fine to go for the cheaper iPhone 14 if you're upgrading. AdvertisementAdvertisementThe iPhone 14 will feel like a big upgrade anywayApple's iPhone 14 Pro model. As the iPhone 15 hits shelves around the world, prices for last year's iPhone 14 — which Insider reviewed strongly — start at $699, $100 cheaper than the basic version of the latest model. AdvertisementAdvertisement"Ultimately the differences between the iPhone 14 and iPhone 15 aren't enormous.
Persons: , Ben Woods, Antonio Villas, Max, Mario Tama, Pro Max, Tim Cook, Justin Sullivan, Woods Organizations: Service, Apple, CCS Insight, Boas, European Union, Getty, Pro Locations: European
AstraZeneca's tozorakimab drug for chronic obstructive pulmonary disease also seems underappreciated, with a potential to reach $4.5 billion in peak sales, according to Jefferies. The firm also suggests up to $3.5 billion in sales for AstraZeneca's eplontersen , a drug aimed at treating hereditary transthyretin-mediated amyloid polyneuropathy. The pharmaceutical giant is also poised to be the frontrunner in breast cancer treatments. Another one of AstraZeneca's breast cancer therapies, also being developed with Daiichi Sankyo, came out with positive news Friday. Its experimental precision drug datopotamab deruxtecan demonstrated an improvement in slowing the progression of a common type of breast cancer in a late-stage trial.
Persons: Peter Welford, Welford, AstraZeneca's, Jefferies, AstraZeneca's eplontersen, transthyretin, deruxtecan, Pascal Soriot's, — CNBC's Michael Bloom Organizations: AstraZeneca, Jefferies, AstraZeneca's, Japan's, pharma Locations: Japan's Daiichi
As part of the deal, AWS will become the “primary” cloud provider for Anthropic, with the AI company using Amazon’s cloud platform to do “the majority” of its AI model development and research into AI safety, the companies said. That will include using Amazon’s suite of in-house AI chips. Anthropic also made a “long-term commitment” to offer its AI models to AWS customers, Amazon said, and promised to give AWS users early access to features such as the ability to adapt Anthropic models for specific use cases. Anthropic already offers its models to AWS users through Amazon Bedrock, Amazon’s one-stop shop for AI products. In a release, Anthropic said that Amazon’s minority stake would not change its corporate governance structure nor its commitments to developing AI responsibly.
Persons: Anthropic, ” Anthropic, Biden, OpenAI, Bing Organizations: CNN, Amazon Web Services, AWS, Amazon, AI21 Labs, Microsoft Locations: Anthropic, OpenAI
Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."
Persons: Anthropic, OpenAI, Adam Selipsky, Dario Amodei, Selipsky, Claude, Amodei, Jeffrey Dastin, Kenneth Li Organizations: FRANCISCO, Amazon, Microsoft, Google, Amazon's, GOOGLE, LexisNexis, Bridgewater Associates, Thomson Locations: Anthropic, San Francisco
They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."
Persons: Anthropic, OpenAI, Adam Selipsky, Dario Amodei, Pascal, Selipsky, Claude, Amodei, Jeffrey Dastin, Kenneth Li Organizations: FRANCISCO, Amazon, Microsoft, Google, Amazon's, REUTERS, LexisNexis, Bridgewater Associates, Thomson Locations: Anthropic, San Francisco
“There needs to be transparency on the part of the co-op board and the managing agent as to why there was spotty service throughout the summer,” said Debra J. Guzov, a real estate lawyer in Manhattan. “If there is a problem, the board has a duty to the shareholders to address that problem.”The managing agent is hired by the co-op’s board of directors and typically assigns an account representative to carry out the co-op’s business at the direction of the board. Your managing agent should bring in an engineer or reputable heating-and-cooling company to inspect the air-conditioning equipment and identify the problem. If the board is dissatisfied with the managing agent, it can request a different account representative for the building or even terminate the managing agent’s contract and hire another company. “Finding the right managing agent and assigned property manager is always a challenge,” said Ronald H. Gitter, a real estate lawyer who focuses on co-ops and condominiums.
Persons: , Debra J, Ronald H Locations: Manhattan
The criticality of trust is even clearer today as generative AI is changing the landscape of what's possible with AI. For example, generative AI models can produce highly believable, well-structured responses so it can be hard to identify an incorrect response without the right subject matter expertise. Generative AI does not have test-retest reliability, meaning you can ask the same question many times to an LLM and get different answers each time. Many business leaders are feeling pressure from investors, clients, employees, and others to accelerate their adoption of AI, including generative AI, but they're weighing the urgency to act against the potential risks. AI governance is how you define policies and establish accountability throughout the AI lifecycle.
Persons: That's Organizations: IBM Institute for Business, IBM, Trust, Transparency, IBM Consulting
How companies are embracing generative AI...or not
  + stars: | 2023-09-22 | by ( Jennifer Korn | ) edition.cnn.com   time to read: +9 min
New York CNN —Companies are struggling to deal with the rapid rise of generative AI, with some rushing to embrace the technology as workflow tools for employees while others shun it – at least for now. Some companies are enacting internal bans on generative AI tools as they work to better understand the technology, and others have already begun to introduce the trendy tech to employees in their own ways. Among media companies that produce news, Insider editor-in-chief Nicholas Carlson has encouraged reporters to find ways to use AI in the newsroom. Of the companies currently banning ChatGPT, some are discussing future usage once security concerns are addressed. “I don’t think it’s that companies are against AI and against machine learning, per se.
Persons: JPMorgan Chase, Northrup, it’s, Mark McCreary, Fox Rothschild, McCreary, , ” Jonathan Gillham, Nicholas Carlson, , ChatGPT, Larry Feinsmith, ” Northrop Grumman, “ They’re, they’re, ” Vern Glaser, Cheryl Ainoa, Donna Morris, PwC, “ Lilli ”, Lilli, Jacky Wright, EY.ai, OpenAI, ” Glaser Organizations: New, New York CNN — Companies, JPMorgan, Northrup Grumman, Apple, Verizon, Spotify, Accenture, Fox, Fox Rothschild LLP, CNN, “ Companies, Gannett, The Columbus Dispatch, UBS, JPMorgan Chase, Wall Street Journal, Entrepreneurship, Enterprise, University of Alberta, Walmart, Emerging Technologies, Consulting, McKinsey, PwC, ChatGPT, Fortune, ChatGPT Enterprise, Microsoft, Bing Locations: New York, ChatGPT, America
The Man Who Trapped Us in Databases
  + stars: | 2023-09-22 | by ( Mckenzie Funk | ) www.nytimes.com   time to read: +3 min
Matrix, as Asher’s new counterterrorism system soon came to be known, arguably marked the beginning of our era of analytics. But Asher, enamored with the power of his magical machines, kept talking about the five names they got right. Many critiques of our increasingly algorithmic world focus on where algorithms fail. A third boils down to checks and balances: Algorithms are often proprietary black boxes, closed to outside scrutiny. He was burning through millions more buying up vast data sets that contained ever more granular information on Americans’ lives.
Persons: Isaac, , Asher, Hank Asher, you’re, Organizations: Facebook Locations: It’s
People look at the new iPhone 15 as Apple's new iPhone 15 officially goes on sale across China, at an Apple store in Shanghai, China September 22, 2023. The iPhone 15 Pro starts at $1,099, and the iPhone 15 Pro Max starts at $1,199. To start, the iPhone 15 Pro and iPhone 15 Pro Max now feature a titanium casing, allowing the design to be slimmer and thinner than before. The iPhone 15 comes in 5 colors (white, black, pink, green and yellow) and in two sizes: A 6.1-inch screen for the iPhone 15 and 6.7 inches for iPhone 15 Pro. After Apple's announcement of the iPhone 15 series on September 12, including the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, the highly anticipated lineup is now available for in-store pickup starting today.
Persons: Aly Song, Max, Here’s, Mohamad Dabbous, Apple, Leon Neal, pare Organizations: CNN, Wedbush Securities, Pro Max, Apple, Citizens, Anadolu Agency, Getty, European Union Locations: China, Europe, Shanghai, Doha, Qatar, London, England
Move over, millennials: one startup founder is betting big that baby boomers are a largely untapped goldmine for discreet undergarments and supplements. With the seed funding, Jude plans to expand into the U.S., selling at the intersection of bladder care, senior healthcare, and women's health. The combination of healthcare, eldercare, and women's health proved to be crucial when Jude tried to line up investors. Take a look at the 17-slide presentation Jude used to raise $4.24 million in seed funding. Jude - healthcare brand for a new age JudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJudeJude
Persons: Jude, Eka, Fiono Pathiraja, Christa Galli, Peony Li, Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Jude Organizations: Christa Galli Ventures Locations: Samos, London, U.S
Learn moreThe newest AirPods Pro 2 — the version with USB-C charging — aren't even out yet, and you can already save $50 on a pair. Apple releases the newest AirPods Pro 2 revision tomorrow. Buy the newest AirPods Pro 2 with USB-C with $50 offDeal icon An icon in the shape of a lightning bolt. Beyond that, all other changes coming to the AirPods Pro 2 are strictly software-based, and they're applicable to both the Lightning and USB-C model. You can read our AirPods Pro 2 review to see whether these are right for you.
Persons: — aren't, There's, You'll Organizations: Apple, Apple AirPods, Amazon, European Union, Apple Vision
The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. We don't think Constellation Brands stock will suffer the same fate as shares of leading snack food companies like J.M. Key points The increasing popularity of new diabetes/weight loss drugs could curtail consumer appetite for junk food and alcohol. Constellation Brands (STZ), the Club name behind the Mexican beers Corona and Modelo, should be able to weather any such headwind.
Persons: Eli Lilly, it's, Mills, Lilly, Jim Cramer, Mounjaro, Morgan, Morgan Stanley, AOMs, Jefferies, Jim Cramer's, Jim, Gabby Jones Organizations: Constellation Brands, Corona, Modelo, Pacifico, Nordisk, Ozempic, Club, Novo Nordisk, Brands, Conagra Brands, Constellation, Bud Light, Jefferies, JPMorgan, CNBC, Bloomberg, Getty Locations: U.S, Oro, Brooklyn Borough, New York
An artificial womb for humans would be a scientific advance that could help solve a major health problem. An artificial womb is not designed to replace a pregnant person; it could not be used from conception until birth. The artificial womb could be able to help the baby develop further through those vital final stages when the lung and brain are developing. In each study, the artificial womb is constructed a little bit differently. If an artificial womb was ultimately approved for use with humans, doctors will have to have conversations with parents about how successful such an intervention could be.
Persons: Prematurity, there’s, Dr, Sanjay Gupta Organizations: CNN, Food and Drug Administration, World Health, US Centers for Disease Control, Pediatric, Children’s Hospital of Philadelphia, Newborn, University of Michigan, University of Toronto, CNN Health, FDA Locations: White, Japan, Australia
Simply put, America's patchwork of CCS chargers offers spotty coverage, hard-to-use devices, and, too often, chargers that are broken. Not to mention, there are fewer than 12,000 CCS fast chargers across the U.S. today. Opening up the Tesla charging network to our customers, that's about them and it scales very quickly for them. watch nowThe broad uptake of Tesla's charging tech is generally good news. What's more, Tesla's chargers all work the same way, whereas CCS chargers from rival companies may have very different procedures.
Persons: Mark Blinch, Reuters There's, General Motors, it's, Joe Biden, Tesla, Justin Sullivan, JD Power, Brent Gruber, Ford, John Lawler, Lawler, We're, Elon Musk, EVgo Organizations: Benz, Canadian, Reuters, Ford Motor, General, Volkswagen, Cox Automotive, Consumer, Energy, Institute, University of Chicago, Associated Press, NORC, for Public Affairs Research, United Auto Workers, EV, Public, U.S . Department of Energy, , Detroit, CCS, University of California, JD, Ford EV, Ford, GM, Volvo, Mercedes, SAE International, ABB Locations: Toronto , Ontario, Canada, U.S, San Rafael , California, Berkeley, Bay, Swiss
Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.
Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County
In an uncertain market environment, Morgan Stanley thinks investors can regain confidence with some large-cap defensive stocks. All are members of the top 1000 by market cap universe, have outperformed on a year-to-date basis, and are classified as a growth stock based on Morgan Stanley's proprietary factor classification model. "In our view, the best way to express that in a portfolio is to hold a barbell of defensive growth (select growth stories and more traditional defensive sectors like Healthcare and Consumer Staples) with late-cycle cyclicals (Industrials and Energy)." Here are some names from Morgan Stanley's playbook: McDonald's is a sure defensive play, according to the firm. Still, Morgan Stanley analysts view the burger chain as a growth stock that is set to outperform in the coming months.
Persons: Morgan Stanley, Morgan, Michelle Weaver, Consumer Staples, Morgan Stanley's, FactSet Organizations: Healthcare, Consumer, Energy, Costco, Apple, Analysts, Accenture, Ross Stores, Marriott Locations: California
In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTKif Leswing/CNBCAlongside new iPhones and Apple Watches, Apple is releasing a new version of its AirPods Pro this month. The 2nd Generation AirPods Pro with USB-C — a mouthful of a model name — don't have any radical hardware changes. Apple's headphones are going far beyond the simple on-or-off noise-canceling features on competing devices. Apple calls the AirPods a "wearable," and reports it in the same revenue category as its Apple Watch. Apple frames Adaptive Audio as a safety feature, so users don't miss honks or disturbances when walking around cities.
Organizations: CNBC, Apple, AirPods Pro, Vision, Apple Watch, AirPods, Control
Instead, gasoline prices are getting more expensive and are just pennies away from their highest level so far this year. Are rising oil prices another item to add to the list? How high do you think oil prices will go? When you adjust for inflation, oil isn’t that high right now. I think that we are going to see continued high prices for a lot of stuff, including gasoline, but I don’t think we’re gonna see an acceleration in prices.
Persons: David Kelly, Bell, Kelly, it’s, we’re, We’ve, — aren’t, Eva Rothenberg, Sen, Bernie Sanders, CNN’s Jake Tapper, , , Jared, Kay Jewelers, Parija Kavilanz, Virginia Drosos Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Asset Management, Strategic Petroleum Reserve, Federal, UAW, United Auto Workers, General Motors, Ford, Vermont Independent, Signet Jewelers, Signet, Diamonds, Goldman, Global Retailing Conference Locations: New York, Saudi Arabia, Russia, Libya, Ukraine, Gulf of Mexico, United States, Nile
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