DIRS.INFO The most relevant business & tech news

☆ Treasury yields climb as investors weigh comments from Fed speakers
▼ + stars: | 2024-06-26 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.7306% after rising by close to four basis points. U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve officials about monetary policy and awaited key economic data. Investors digested remarks from Federal Reserve officials about the U.S. economy and the outlook for interest rates. Bowman also did not take further interest rate hikes off the table. Meanwhile, Fed Governor Lisa Cook on Tuesday said she only expects little change to inflation rates this year, but sees inflation "slowing more sharply" next year.

Persons: Michelle Bowman, Bowman, Lisa Cook Organizations: Treasury, U.S, Federal Reserve, Investors, PCE Locations: U.S

☆ Abu Dhabi wants to be an AI leader. Aligning with the US is just the start
▼ + stars: | 2024-06-26 | by ( Amy Gunia | ) edition.cnn.com time to read: +7 min

CNN —The world’s first minister dedicated to developing artificial intelligence (AI) strategy is already becoming embroiled in a global power struggle for tech supremacy. The UAE is one of the world’s largest producers of fossil fuels, and Abu Dhabi sees its AI push as crucial for diversifying away from oil. Christopher Pike/Bloomberg/Getty ImagesWashington has also limited the sale of sophisticated US chips to ensure China doesn’t use Middle Eastern nations as a back door to access the newest AI technology, according to Reuters. By opening up the technology, Abu Dhabi is positioning itself as an ally to developing nations that don’t have the resources to build their own AI tools. In March, a report commissioned by the US State Department warned that the most advanced AI systems could, in a worst-case scenario, “pose an extinction-level threat to the human species.”Olama has some specific concerns.

Persons: Biden, Omar Al Olama, “, Zayed Al Nahyan, Abu Dhabi, ”, ” Olama, Al Olama, ’ ”, Christopher Pike, Olama, Abu Dhabi’s, ” James Lewis, Abu Dhabi’s Mohamed bin, Gifty Sahany, Lewis, ” He’s Organizations: CNN, Microsoft, United Arab Emirates, UAE, PwC, Commerce Department, Huawei, Etihad, United, Bloomberg, Getty, Washington, Reuters, Nvidia, Apple, Technology Innovation Institute, Google, Center for Strategic, International Studies, Washington DC, University of Artificial Intelligence, Systems, US State Department Locations: Abu Dhabi, UAE, China, United States, Dubai, Gulf, United Arab Emirates, Beijing, Washington, University, Valley

☆ Nvidia will hit a $6 trillion valuation by the end of the year as investors start to realize how cheap the stock is, hedge fund manager says
▼ + stars: | 2024-06-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Nvidia stock is still cheap based on a forward price-to-earnings multiple, according to a hedge fund manager. Eric Jackson expects Nvidia stock to hit $250 per share by the end of the year, doubling from current levels. Jackson expects Nvidia stock to hit $250 by the end of the year, representing potential upside of 101% from current levels. And it's all because Nvidia stock is still cheap on a valuation basis, according to Jackson. AdvertisementConstellation Research and Rosenblatt have a $200 price target for Nvidia stock, while Bank of America recently reiterated its $150 target.

Persons: Eric Jackson, —, EMJ Capital, Jackson, it's, Blackwell, Rubin, Jackson isn't, Rosenblatt Organizations: Nvidia, Service, EMJ, CNBC, Cisco, Wall, Constellation Research, Bank of America

Goldman Sachs initiated coverage of Disney with a buy rating and a price target that implies more than 20% upside. Elsewhere, Piper Sandler raised its price target on Uber, calling for nearly 25% upside. Analyst Jonna Kim simultaneously raised her price target to $30 from $28, citing a likelihood in earnings upside. As a catalyst, Kim cited "potential upside to FY24 Street estimates given solid topline momentum combined with margin expansion on continued inventory & expense management." — Lisa Kailai Han 5:41 a.m.: Goldman Sachs initiates Disney with a buy rating Disney has room for upside growth ahead, according to Goldman Sachs.

Persons: Goldman Sachs, Raymond James, Piper Sandler, TD Cowen, Jonna Kim, Kim, Lisa Kailai Han, Jeff Chung, Chung, — Lisa Kailai Han, Ranjan Sharma, Sharma, Uber, Thomas Champion's, AMZN, Michael Ng, Ng, Raymond James downgrades, RJ Milligan, Milligan, PENN, Fred Imbert Organizations: CNBC, Disney, Penn Entertainment, Navy, Citi, IHS, Volkswagen, JPMorgan, Google, Yahoo, Uber, ESPN, Netflix, Disneyland, Raymond James downgrades Penn Entertainment, NFL, Penn Locations: 2024E, 2025E, Singapore, TikTok, Indonesia, Philippines, Malaysia, Monday's

☆ European stocks set to open lower after sentiment sours on Wall Street
▼ + stars: | 2024-06-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

LONDON — European stocks are expected to open lower Tuesday, following souring U.S. market sentiment at the start of the week. The U.K.'s FTSE index is seen opening 16 points lower at 8,284, Germany's DAX 130 points lower at 18,207, France's CAC 40 down 32 points at 7,678 and Italy's FTSE MIB down 55 points at 33,982, according to data from IG. Global markets have turned lower after investors stateside sold off U.S. Big Tech stocks on Monday in favor of sectors such as banking and energy. Asia-Pacific markets mostly rose overnight, with traders assessing South Korea's consumer sentiment index for June, as well as Japan's service sector producer prices. Spanish gross domestic product data will be the main major economic release.

Persons: Germany's DAX Organizations: U.S, CAC, IG, Global, . Big Tech, Nvidia Locations: Asia, Pacific, Europe

☆ Gold drifts lower as traders await U.S. inflation data
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Gold prices eased on Tuesday, while investors looked toward key U.S. inflation data due later this week that could throw some light on the Federal Reserve's interest rate cut stance. Spot gold was down 0.2% at $2,327.52 per ounce as of 0339 GMT. "Technical factors in the short-term are not so positive for gold. Other Fed officials speaking this week include Fed Governors Lisa Cook and Michelle Bowman along with Richmond Fed President Tom Barkin.

Persons: Kelvin Wong, Bullion, Wong, Mary Daly, Lisa Cook, Michelle Bowman, Tom Barkin Organizations: Asia Pacific, U.S, San Francisco Fed Bank, Richmond Fed Locations: OANDA, U.S

A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong

☆ An overload of warning signals mark the 'last straw' that could send the S&P 500 plunging 70%, famed permabear says
▼ + stars: | 2024-06-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

A high concentration of warning signals suggest a major market correction ahead, John Hussman said. AdvertisementA growing tally of ringing market alarms suggest the S&P 500 has at last reached its speculative peak, permabear John Hussman wrote on Monday. He predicted in 2000 that the S&P 500 would likely see negative total returns over the following decade, which it did. He predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009. The S&P 500, by comparison, is up significantly over the period.

Persons: John Hussman, —, Hussman Organizations: Service, Hussman Investment, Dow

☆ 7 reasons Nvidia is poised to soar 67% as its rally continues for the next 2 years, according to a Wall Street research firm
▼ + stars: | 2024-06-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Constellation Research said Nvidia stock will soar 65% to $200 per share over the next year. The research firm said it expects Nvidia stock to continue soaring for the next 18 to 24 months as it benefits from its AI dominance. These are the seven reasons Wang expects Nvidia stock to soar 65% from current levels. You're going to be locked in for quite some time and they've got quite a lead in terms of doing that." Wang isn't the only analyst on Wall Street with a $200 price target for Nvidia stock.

Persons: —, Ray, Wang, Jensen Huang, It's, Larry Ellisons, scott Mcnealys, Mark Zuckerbergs, they've, Wang isn't, Rosenblatt Organizations: Constellation Research, Nvidia, Service, Constellation, CNBC, Microsoft, Intel, Cisco, Wall Locations: that's

☆ Jude Law and Alicia Vikander Talk Smells, Sex Scenes in 'Firebrand'
▼ + stars: | 2024-06-24 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +14 min

AdvertisementIn a joint interview, the two discuss what it was like making "Firebrand," from working with Law's decaying-body perfume to the movie's unexpectedly "hilarious" sex scenes. Jude Law and Alicia Vikander in "Firebrand." Jude: I use it quite a lot because, as Alicia said, it's a really good way of... You've got to step into these characters every day. There are a lot of frankly kind of gross sex scenes that really drive home just the unbalanced, fraught nature of Henry and Katherine's relationship. Jude Law and Alicia Vikander in "Firebrand."

Persons: Jude Law, Count Alexei Alexandrovich Karenin, Joe Wright's, Anna Karenina, Alicia Vikander, —, Oscar, Kitty, Karim Aïnouz's, King Henry VIII's, Katherine Parr, Parr, Anne Boleyn, she's, Karim, Law, Katherine, Larry Horricks Jude, Alicia, Jude, I'd, Joe Wright, it's, You've, Henry, that's, Larry Horricks, I've, would've, there's, Everyone's, Vikander, Ripley, Irma Vep, you'll, Raff, Monica Schipper, John Nacion, WireImage Jude, Glen Powell, It's Organizations: Business, Law, Netflix Locations: South Africa

☆ Clarence Thomas' originalist interpretations go too far, even for fellow conservatives
▼ + stars: | 2024-06-23 | by ( Katherine Tangalakis-Lippert | Lloyd Lee | ) www.businessinsider.com time to read: +5 min

This story is available exclusively to Business Insider subscribers. AdvertisementLegal experts who spoke to Business Insider said Thomas's latest decision highlighted how inconsistent and even ridiculous this method of interpretation can be. The Supreme Court of 1888 decided that the Constitution was broad enough to cover inventions the Founding Fathers never dreamed of. Gross noted that he expected the outcome the Supreme Court ultimately reached, though he was surprised Justice Samuel Alito, another strict originalist, didn't join Thomas' dissent. AdvertisementRepresentatives for the Supreme Court did not respond to a request for comment from Business Insider.

Persons: —, Clarence Thomas, Thomas, Antonin Scalia, John P, Gross, wouldn't, originalists, Carolyn Shapiro, Shapiro, Amy Coney Barrett, Barrett, SCOTUS, Samuel Alito, didn't, Scalia Organizations: Service, Business, University of Wisconsin Law School, Public, originalism, Chicago, Kent College of Law's Institute, AP, CNN Locations: United States

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ High valuations of Apple and Microsoft get a pass. Nvidia does not but should
▼ + stars: | 2024-06-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

Sure enough, the next day began a historic ascent of Apple stock, an in-your-face rally that many thought made no sense. There's a coalescence of two themes, high speed, accelerated computing and increasingly intelligent AI, and neither works without Nvidia chips. I know that it seems impossible to ponder Nvidia's stock going any higher or passing Apple and Microsoft and staying ahead of it. Ask yourself, does any company match Jensen and Nvidia right now? I say let others be baffled over the Apple versus Microsoft versus Nvidia conundrum.

Persons: WWDC, Tim Cook, Tim, Claude, hasn't, Moore, Elon Musk, Nvidia's, Jensen Huang, Jensen, Ben Franklin, Franklin, Da Vinci, — Jensen, Steve Jobs, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Developers, Microsoft, Club, Dell, HP Inc, PC, Micron, Nvidia, Computers, Intel, AMD, Pentium, Taiwan Semiconductor Manufacturing Co, Franklin Institute, Oracle, Google, GTC Conference, Cisco, Jim Cramer's Charitable, CNBC Locations: Philadelphia, Rome, Jensen

According to data from Zillow, 30-year mortgage rates are currently 6.55%, and 15-year mortgage rates are currently 5.96%. Mortgage rates could decrease more dramatically if the Fed decides to cut rates. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they've, you'll, Fannie Mae Organizations: Zillow, Mortgage, Association, Sky Locations: Zillow, Chevron

☆ Starboard loses initial legal fight against Autodesk, but the battle may just be beginning
▼ + stars: | 2024-06-22 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. With 90%+ gross margins and 35% operating margins, Autodesk is a leader in AEC software. Further, its operating margins are not much worse than those of its peers at first blush. However, Starboard correctly does not judge the company's operating margins on the mean of its peer set, but by the potential embodied in its gross margins and market position. He no longer serves on the board of Autodesk, but he could certainly be an informal advisor to Starboard – or a cautionary tale for Autodesk.

Persons: Max, Russell, Deborah Clifford, Clifford, bode, Sachem, Andrew Anagnost, designees, Rick Hill, Hill, designee, Ken Squire Organizations: Autodesk, Engineering, Manufacturing, Media, Entertainment, Manufacturing Solutions, Wonder, Delaware Chancery, —, U.S . Securities, Exchange Commission, Delaware Court, Marvell Technology, Symantec, 13D Locations: Delaware, Autodesk's

☆ Consumer spending, inflation, and housing are 3 things to watch in the market next week
▼ + stars: | 2024-06-22 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.

Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan

☆ Surging government red ink spurs economists' worries over a prolonged recession and market trouble
▼ + stars: | 2024-06-21 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Burgeoning debt and deficits are threatening to make the next recession deeper while tying the hands of policymakers, according to two leading economists. The Congressional Budget Office this week revised its estimates to paint an even bleaker version of the U.S. financial picture. Teetering on trouble In fact, Rosenberg thinks the economy already is nearing or in the early stages of recession. "With budget deficits historically high relative to an economy operating at full employment, the government could be facing double-digit budget deficits when the next downturn hits." While equity markets have largely shrugged off worries over the fiscal situation, LaVorgna and Rosenberg both insist that bond investors should pay attention.

Persons: David Rosenberg, Rosenberg, Teetering, Janet Yellen, Joseph LaVorgna, Donald Trump, LaVorgna Organizations: Congressional, Rosenberg Research, Federal, CBO, CNBC, White House, Nikko Securities, National Economic Council Locations: U.S

☆ Cost of debt should be higher for France, economist says
▼ + stars: | 2024-06-21 | 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 EmailCost of debt should be higher for France, economist saysDavide Oneglia, economist at TS Lombard, says total credit to gross domestic product for France is likely at the highest level in the developed world.

Persons: Davide Oneglia Organizations: TS Lombard Locations: France

☆ Here's our first-quarter earnings report card for 32 stocks in the portfolio
▼ + stars: | 2024-06-21 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Most of the earnings reports — 25 out of 32 portfolio names — were ranked as good or great by the Investing Club. Similar to prior quarters, we grouped company results into one of four categories. Meta Platforms : Sales, earnings and cash flow results all topped expectations . However, sales and earnings both outpaced expectations, as did return on tangible common equity, a key consideration when valuing banks. The company also raised its outlook for full-year earnings growth to 25% year-over-year from 20%.

Persons: we're, Dover, Eli Lilly, Blackwell, Abbott, —, Wall, We'll, Morgan Stanley, Nikesh, Stanley Black, Wells, Estee Lauder, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Hock Tan, Broadcom Lucas Jackson Organizations: Investing, Apple, Services, Broadcom, VMware, Coterra, DuPont, Microsoft, Nvidia, Wynn Resorts, Super, Abbott Labs, Web Services, Constellation Brands, Constellation, Ford, Ford Pro, Wall Street, Alto Networks, Procter & Gamble, TJX, GE Healthcare, Honeywell, Linde, Jim Cramer's Charitable, CNBC Locations: Dover, China, Eaton, Las Vegas, China's Macao, billings, Wells Fargo, —

☆ Oil Projects Must Consider Full Climate Impact, Top U.K. Court Rules
▼ + stars: | 2024-06-21 | by ( Jenny Gross | ) www.nytimes.com time to read: +1 min

Britain’s highest court has ruled that local councils and planning groups must consider the full environmental impact of new fossil fuel projects when deciding whether to approve them, a decision that could have far-reaching consequences and that climate activists hailed as a major victory. In particular, the ruling will make it harder for Britain to move ahead with plans to develop large offshore oil fields in North Sea, including Rosebank, one of the country’s largest undeveloped oil fields. Situated off the coast of Scotland, Rosebank contains an estimated 300 million barrels of recoverable oil. Now, they will also be required to estimate and disclose the emissions produced by their suppliers or consumers, such as from oil being refined or burned as fuel. Those emissions, produced along what’s known as a company’s “value chain,” make up the bulk of greenhouse gas emissions related to oil production.

Persons: Annalisa, “ It’s Organizations: University of Stirling, Court Locations: Britain, North, Scotland, Rosebank

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Jim Cramer has said he's tentative about the next steps and has the stock in the penalty box. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dow, WTI, Coterra, Uber, Jeff Marks, Marks, — CNBC's Matthew J, Belvedere, Kevin Stankiewicz, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Microsoft, Apple, Nasdaq, West Texas, Coterra Energy, Reuters, Amazon, Alexa, Starbucks, Wall Street Journal, Jim Cramer's Charitable Locations: U.S

☆ He tried to oust OpenAI’s CEO. Now, he’s starting a ‘safe’ rival
▼ + stars: | 2024-06-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —The OpenAI co-founder who left the high-flying artificial intelligence startup last month has announced his next venture: a company dedicated to building safe, powerful artificial intelligence that could become a rival to his old employer. Ilya Sutskever announced plans for the new company, aptly named Safe Superintelligence Inc., in a post on X Wednesday. Sutskever then worked on Google’s AI research team, before helping to found what would become the maker of ChatGPT. It’s also not clear exactly what the new company thinks of as “safety” in the context of highly powerful artificial intelligence technology. “By safe, we mean safe like nuclear safety as opposed to safe as in ‘trust and safety,’” Sutskever told Bloomberg in an interview published Tuesday.

Persons: Ilya Sutskever, Sutskever, Geoffrey Hinton, Sam Altman, Altman, Kara Swisher, ”, It’s, ” Sutskever, OpenAI, Jan Leike, Daniel Levy, Daniel Gross Organizations: New, New York CNN, Superintelligence Inc, SSI, Google, CNN, Bloomberg, Apple Locations: New York, OpenAI, “, Palo Alto , California, Tel Aviv, Israel

☆ The man who dared to revolt against Sam Altman at OpenAI just started a research lab promoting 'safe superintelligence'
▼ + stars: | 2024-06-20 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI cofounder and former chief scientist Ilya Sutskever announced his new venture on Wednesday — a research lab committed to developing "safe superintelligence." "I am starting a new company," Sutskever said of his new project, Safe Superintelligence Inc. (SSI) in an X post. I am starting a new company: https://t.co/BG3K3SI3A1 — Ilya Sutskever (@ilyasut) June 19, 2024According to SSI's website, the lab has "one goal and one product: a safe superintelligence." AdvertisementRepresentatives for Safe Superintelligence and OpenAI didn't immediately respond to requests for comment from BI sent outside regular business hours. Following Altman's return, Sutskever appeared to have been shut out of OpenAI, BI reported in December, citing people familiar with the situation.

Persons: —, Ilya Sutskever, Sutskever, BG3K3SI3A1 — Ilya Sutskever, Daniel Gross, Daniel Levy, Ashlee Vance, Bloomberg's Vance, OpenAI didn't, Elon Musk, Sam Altman's, Altman, Altman's, OpenAI, splintering, Dario, Daniela Amodei Organizations: Service, Superintelligence Inc, Business, SSI, Apple, BI, OpenAI, Amazon, Google Locations: OpenAI

☆ Donald Sutherland's huge 'Animal House' negotiation mistake cost him millions
▼ + stars: | 2024-06-20 | by ( Frank Pallotta | Caralynn Matassa | ) www.businessinsider.com time to read: +4 min

Read preview"National Lampoon's Animal House" is one of the greatest comedies ever. Despite the movie's now classic status, studio execs didn't have much faith in "Animal House" at the time. Sutherland wanted more cash upfront rather than a stake in the profitsSimmons said the studio wanted a star but "wouldn't pay for a star." Sutherland once said he'd rather not know how much his "Animal House" blunder actually cost him. 'Animal House' was an animal at the box office.

Persons: —, Donald Sutherland, Matty Simmons, Ned Tanen, I'd, Tanen, John Belushi wasn't, John Landis, Sutherland, Landis, Simmons, Sutherland's, he'd, Arnold Jerocki, Dave Jennings, Opie, Anthony, Sutherland smirked Organizations: Service, Business, Universal Studios, Universal Locations: Hollywood

☆ China’s 618 e-commerce festival sees a decline in sales for the first time in 8 years, data firm Syntun says
▼ + stars: | 2024-06-20 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

China's annual 618 mid-year e-commerce festival saw sales drop for the first time in 8 years, according to retail data provider Syntun, signaling consumption recovery in the world's second-biggest economy was still quite slow. It was also the first time sales clocked a decline since Sytun began monitoring the event in 2016, the company told CNBC. It is China's second-biggest annual sales event after "Singles Day" in November — both are seen as a barometer for household consumption. Weak sales this year came despite some companies extending their 618 sales period, according to Sytun's analysis, which covered over 20 platforms. Tmall, for instance, started offering its 618 deals as early as May 20 this year, as opposed to its typical May 31 start date.

Organizations: CNBC, PDD Holdings, Apple

Search resuls for: "" Gross"

25 mentions found