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☆ It may be time to take some profits in Nvidia, chart analysts say
▼ + stars: | 2024-05-29 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Nvidia is now a $2.8 trillion company, an eyewatering figure that places the graphics processing unit maker just behind Apple ($2.9 trillion) and Microsoft ($3.2 trillion) in the S & P 500. At the same time, however, more investors wonder if Nvidia is overvalued and they should start taking profits, especially as the broader market comes under pressure from higher Treasury yields. Nvidia has surged above its 50-day and 200-day moving averages, and it now boasts a price-to-earnings (P/E) ratio of 66. A move toward the upper band could mean the stock is overbought. Correction: A previous version of this article misstated the values of Nvidia, Apple and Microsoft.

Persons: Josh Brown, BTIG's Jonathan Krinsky, Krinsky, Wolfe, Rob Ginsberg, Ginsberg Organizations: Nvidia, Apple, Microsoft, Walmart, Netflix, Wealth, Bollinger

☆ Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue
▼ + stars: | 2024-05-29 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Signage is seen outside of a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Walgreens announced Wednesday it would continue to cut prices on some 1,300 items — the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue. "Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials," said Tracey D. Brown, EVP, President, Walgreens Retail & Chief Customer Officer. Lower-income consumers have been cutting back more substantially. Meanwhile, other areas of the economy more closely tied to wealthier consumers continue to outperform, especially travel.

Persons: Tracey D, Brown, we've, Ramon Laguarta, Jamie Baker Organizations: Walgreens, Walgreens Boots Alliance, Inc, Walgreens Retail, Target, Walmart, Conference Board, PepsiCo, American Airlines, JPMorgan Locations: Manhattan , New York City, U.S

☆ The South Park jinx could be coming for high-flying weight-loss stocks
▼ + stars: | 2024-05-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

"One year after appearing on South Park, the median stock underperforms the S&P 500 by 7%," Spectra Markets said. South Park: The End of Obesity special released last week tackled the growing popularity of Ozempic and Mounjaro as Eric Cartman tries to get his hands on the hugely popular weight-loss drugs. Advertisement"One year after appearing on South Park, the median stock underperforms the S&P 500 by 7%," Spectra Markets President Brent Donnelly said. "South Park has a 20+ year history of capturing the cultural zeitgeist and it's impossible to argue that anything that is lampooned on South Park is not priced in," Donnelly said. But not all those featured on South Park saw their stock prices peak shortly thereafter, with Microsoft, Yelp, and Netflix bucking the trend.

Persons: —, Eric Cartman, Brent Donnelly, Donnelly, Eli Lilly, shouldn't Organizations: Service, Spectra Markets, Novo Nordisk, Twitter, Starbucks, Walmart, Microsoft, Netflix

☆ Walgreens is cutting prices on 1,500 items, joining Target, Walmart and Amazon
▼ + stars: | 2024-05-29 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens is joining other retailers in cutting prices across the board, from snacks to toiletries and even Squishmallows, in an effort to lure back inflation-weary shoppers turned off by high prices. Prices are dropping immediately on more than 1,500 items online and at its stores, which include both name and store brands, Walgreens announced Wednesday. In the past few weeks, competitors including Target, Walmart and Amazon slashed prices on thousands of household goods to rev up consumer spending. “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” said Tracey D. Brown, Walgreens’ retail president and chief customer officer, in a release. Meanwhile, a host of other retailers report earnings Thursday, including Dollar General and Costco.

Persons: ”, Tracey D, Brown, “, we’ve, Alliance’s, isn’t, Sarah Wyeth, “ There’s, ” Wyeth, Parija Kavilanz Organizations: New, New York CNN, Walgreens, Target, Walmart, Dollar, Costco, Shoppers Locations: New York

☆ Jim Cramer explains why stock splits can bring gains
▼ + stars: | 2024-05-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Using Nvidia 's announcement last week of its 10-for-1 stock split as an example, CNBC's Jim Cramer explained why such moves can give companies a boost. "In theory, stock splits, they shouldn't matter at all," he said. "But if you just look at the stock splits that've been announced … they clearly don't hurt." Cramer explained that companies usually split stock to make shares with "terrifying price tags" more available to regular investors. While Cramer stressed that stock spits don't guarantee gains, he said a company's shares often do rise after such an announcement.

Persons: CNBC's Jim Cramer, …, Cramer Organizations: Nvidia, Walmart, Lam Research Locations: Chipotle

☆ Amazon is winning the biggest dollar share of new retail spending — and by a lot
▼ + stars: | 2024-05-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Amazon is winning the biggest dollar share of new retail spending — both online and brick-and-mortar — and it's not even close. AMZN YTD mountain AMZN stock performance year-to-date. Morgan Stanley said Walmart 's performance this year is "not too shabby" but a distant second to Amazon. Amazon has been benefitting from the consumer's continued shift to buying stuff online, a trend that should benefit AMZN stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: it's, Morgan Stanley, Zev Fima, Amazon's, We've, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Walmart, Management, Deal, CNBC, Getty Locations: America

☆ Why Walmart, Walgreens, CVS retail health clinic experiment is struggling
▼ + stars: | 2024-05-28 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

But the business experience in the retail health clinic space has largely disappointed. Walmart and the problem of volume vs. priceIn 2019, Walmart announced a bold initiative to open 4,000 in-store health clinics by 2029. "Primary health care is a low margin business," said Arielle Trzcinski, a principal analyst covering health care at research firm. "Compared to what they see in traditional retail, health care is a fundamentally different business," Trzcinski said, citing the challenges of navigating insurance companies and administrative burdens that health care brings. In-store health clinics can be profitable and viable, and retailers are experimenting with piecemeal approaches tailored to the local market.

Persons: Bobbi Radford, Radford, haven't, CVS's MinuteClinic, Karla Lemon, CVS's, I've, That's, Timothy Hoff, Hoff, didn't, Colleen Sanders, Sanders, Arielle Trzcinski, Forrester, Trzcinski, America Sanders, Virgil Brantz, Brantz Organizations: CVS, Walmart, Walgreens, Northeastern University, Insurance, Washington , D.C, Aetna, Retailers, Washington, Hartford HealthCare, Health Clinic, Arizona State University, Little Clinics, Kroger Locations: Batavia , Ohio, VillageMD, Southern California, New England, Conway , South Carolina, Washington ,, MinuteClinic, USA, America, Connecticut, Hartford, Phoenix, Atlanta, Little

☆ Amazon Fresh is the latest retailer to cut prices to win over inflation-weary shoppers
▼ + stars: | 2024-05-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

Amazon Fresh is cutting prices on about 4,000 products through weekly sales. Walmart and Target have also cut prices as customers deal with the long-term effects of inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon is the latest major retailer to cut grocery prices. The retail giant will drop prices on about 4,000 items — some by up to 30% — at its Amazon Fresh chain, the company told CNN.

Persons: — Organizations: Walmart, Target, Service, CNN, Business

☆ Here is what’s open and closed on Memorial Day 2024
▼ + stars: | 2024-05-27 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

CNN —Memorial Day is the unofficial start of summer, with many students out of school and office workers enjoying the day off. This year, Memorial Day is on Monday, May 27. Here’s what will be open and closed on Memorial Day 2024. Walmart and Target will be open on Memorial Day. Postal servicesThe United States Postal Service will not be delivering mail on Memorial Day.

Organizations: CNN, Retail, Walmart, Target, Kroger, Aldi, Costco, New York Stock Exchange, Nasdaq, Federal Reserve, United States Postal Service, UPS, FedEx

☆ Stocks splits are usually bullish. Here are 8 expensive stocks that could get a boost by following Nvidia's 10-for-1 move.
▼ + stars: | 2024-05-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Stock splits have no impact on the market value of a company, but they are historically bullish, according to Bank of America. These are eight high-priced S&P 500 stocks that could be the next to enact a split. AdvertisementBank of AmericaForward stock splits are ultimately a sign of strength, as the company's rising stock price often reflects the growing profits of the underlying business. "Splits do not affect company fundamentals but can increase liquidity by making shares more accessible," Bank of America said. Booking HoldingsMarkets InsiderTicker: BKNGStock price: $3,795.04Market value: $128.7 billion1.

Persons: — Organizations: Nvidia, Bank of America, Service, Walmart, Bank of America Forward, Isaac Markets, Broadcom, Booking Holdings Locations: Chipotle, Mettler

☆ Living on $25,000: ALICEs who live paycheck to paycheck explain how they scrape together enough food to get by
▼ + stars: | 2024-05-26 | by ( Allie Kelly | ) www.businessinsider.com time to read: +7 min

However, this criteria leaves low-income households who don't qualify relying on thinly stretched grocery budgets, food pantries, or employer meal discounts. Many ALICEs worry their family will go hungry, but they're running out of options to put food on the table. AdvertisementKelley also said she doesn't live near many food pantries and has to drive long distances to reach a grocery store or Walmart. AdvertisementDo you live paycheck to paycheck? Are you open to sharing how you afford food, housing, and other expenses?

Persons: —, Cherie Tobias, Tobias, She's, ALICE —, she's, ALICE, Melinda Binkley, Binkley, Lisa Kelley, Kelley, Melissa Hedden, Hedden, it's, isn't Organizations: Service, Business, SNAP, Cincinnati, Walmart, BI Locations: Applebee's, Hastings , Michigan, Stillwater , Minnesota, Wilmington , North Carolina

☆ Off-price retailers like TJX and Ross won't be slowing down any time soon — here's why
▼ + stars: | 2024-05-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. TJX and Ross both reported fiscal first quarter earnings last week that came in better than Wall Street expected, even as both companies lapped outsize growth from the prior-year period. Ross, which runs Ross Dress for Less and dd's Discounts, posted an 8% jump in sales, bringing revenue to $4.86 billion, compared to estimates of $4.83 billion, according to LSEG. "That's because they're providing consistent value to the consumer – and that's branded consistent value to the consumer at a discount price," said Roach. The dynamic is a bit different at Ross, which has more exposure to the lower- and middle-income consumer than TJX does and competes more on price, said Siegel.

Persons: Mario Anzuoni, Ross, it's, TJ Maxx, they've, Jessica Ramirez, Jane Hali, TJX, they'd, They've, Goldman Sachs, Brooke Roach, John Klinger, Michael Hartshorn, Roach, Simeon Siegel, Siegel, Ernie Herrman Organizations: Maxx, Reuters, TJX, Associates, Wall, Marshalls, CNBC, Walmart, BMO Capital Markets, Brands Locations: Pasadena , California, Homegoods, Ross

☆ Target is lowering prices and boosting its budget brands as it battles Walmart for shoppers on the hunt for deals
▼ + stars: | 2024-05-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walmart has augmented its reputation for low prices with a number of Target-coded improvements such as refreshed stores, upscale product assortment, and smoother e-commerce options to see strong gains among higher-income shoppers. AdvertisementThe numbers indicate Walmart (among others) may be picking Target's pocket in terms of market share as inflation-weary consumers hunt for the best value for their dollar. Earlier this year, Target went after budget-minded buyers with a new line of essentials under the Dealworthy brand. Then late last month, Walmart took a shot at Target's Good & Gather-owned brand with an all-new upscale private label called Bettergoods.

Persons: —, Brian Cornell, Cornell, Christina Hennington, Target, Bettergoods, Hennington, We've Organizations: Service, Walmart, Business, Target Locations: Dealworthy

Shop at Walmart What we like Check mark icon A check mark. Local dimming for excellent contrast controlCheck mark icon A check mark. Shop at Mattress FirmFor a full breakdown of mattress deals, check out our guide to the best Memorial Day mattress sales. Shop at Amazon What we like Check mark icon A check mark. Shop at Amazon Shop at Kohl's What we like Check mark icon A check mark.

Persons: we've, you'll, you've, fryer, Braun, Fryer, Ninja's, Ninja, Crisp, Pick, It’s, Max, Casper, Pillow, Topper, Allbirds Organizations: Business, Apple, Day, Samsung, Walmart, Samsung TV, Amazon Sony, Amazon Samsung, Amazon, DreamCloud Sealy, Amazon ., Shop, Ninja, Sony, JBL Bluetooth, Amazon Beats, Amazon Apple, JBL, Haven, Elm, Flyers Locations: Brooklyn, France, Chewy

☆ What’s open and closed on Memorial Day 2024
▼ + stars: | 2024-05-26 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Memorial Day is the unofficial start of summer, with many students out of school and office workers enjoying the day off. This year, Memorial Day is on Monday, May 27. Here’s what will be open and closed on Memorial Day 2024. Walmart and Target will be open on Memorial Day. Postal servicesThe United States Postal Service will not be delivering mail on Memorial Day.

Organizations: New, New York CNN, Retail, Walmart, Target, Kroger, Aldi, Costco, New York Stock Exchange, Nasdaq, Federal Reserve, United States Postal Service, UPS, FedEx Locations: New York

☆ The 'Oracle of Wall Street' shares a secret sign of economic strength 'hiding in plain sight': Young Americans are outspending cash-poor baby boomers
▼ + stars: | 2024-05-25 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Younger Americans are finally outspending baby boomers, former Wall Street bank analyst Meredith Whitney recently noted. That's an encouraging sign for the US economy, which most economists believe is healthy, though some bearish prognosticators have serious doubts. There are several possible explanations for these findings and numerous takeaways from them, the "Oracle of Wall Street" said. However, young Americans' spending power shouldn't be discounted, as Whitney suggested that they command relatively high salaries since they attend college at higher rates. A continued economic expansion would be especially crucial for Gen Zers and millennials, who are entering the workforce or establishing their careers.

Persons: —, Meredith Whitney, That's, Whitney, Zers, relaunching, boomers, it's, Gen Zers Organizations: Service, Business, Meredith Whitney Advisory Group, Target, Starbucks, BI, Walmart, American, American Express Locations: Street

☆ Three gig workers explain how they got deactivated on apps from Doordash to Walmart's Spark
▼ + stars: | 2024-05-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

That's because apps like DoorDash, Instacart, Uber Eats, and Walmart's Spark frequently deactivate the accounts of their drivers over minor issues — or no obvious issue at all, according to delivery workers who have spoken to Business Insider. Deactivated without doing a single orderOne Ohio delivery worker told BI she signed up for Walmart's Spark delivery service last fall. Advertisement"I was forced to rely on my DoorDash account, which only has bike mode," the second driver said. Then in January, the second driver said, his girlfriend's DoorDash account was reactivated after she tried contacting DoorDash multiple times. But that same month, DoorDash deactivated his own account, citing "suspicious activity."

Persons: —, Uber, DoorDash, hasn't, Instacart Organizations: Service, Business, Walmart Locations: Ohio, California

☆ Here’s why we eat popcorn at the movies
▼ + stars: | 2024-05-25 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

But the perfect (and very profitable) pairing of today wasn’t always the case: For many years, movie theaters wanted nothing to do with the snack. People watch movies in a newly reopened AMC River East theater on Aug. 20, 2020, in Chicago. Popular movies often bring collectible cups and popcorn buckets, or, in industry-speak, Collectible Concession Vehicles (CCVs). The cinema business will continue to evolve, but one thing will remain constant, said Gil of Queen’s University. “Theaters will stop playing movies before they will actually stop selling popcorn.”

Persons: “, Fred Astaire, Ginger Rogers, ” Paul Dergarabedian, Andrew F, ” Smith, Cracker Jack, ”, Smith, ’ ” Smith, hawkers, Peter Stackpole, John Aitkin, John Sr, Aitkin, Alicia Wallace, CNN It’s, Loren Williams, Alicia Reese, Ricard Gil, Jason Wambsgans, Gil, Wedbush’s Reese, Red Robin, ” Nels Storm, Garfield ”, Cory Ryan, Heather Morgan, Alamo’s, ” Andrew Sherburne, Christian Meoli, Camilla Meoli, ” Gil Organizations: Minneapolis CNN, CNN, AMC, Exposition, Bettmann, Riverview, “, Riverview Theater, Wedbush, Queen’s University, Chicago Tribune, Tribune, Service, Waffle, AMC Theatres ’, Walmart, Kroger, Alamo, University of Iowa’s, Cinemas Locations: Minneapolis, America, New England, South America, Philadelphia, Texas, South Minneapolis, Riverview, “ Kingdom, Canada, Chicago, Brooklyn , New York, Iowa City , Iowa, Seattle, Emerald, California

☆ We're millennial brothers and business partners who left San Francisco's tech bubble for the Midwest manufacturing scene. We never would have been able to afford to launch our startup in California.
▼ + stars: | 2024-05-25 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +7 min

We lived in San Diego for a few years after college, and then we moved to San Francisco in 2018. Matine: San Francisco is amazing. But San Francisco was apocalyptic. We had a three-story, four-bedroom place for half the price of our condo in San Francisco. The facility we're currently in is only a little more expensive than my rent in San Francisco, and this is 20,000 square feet.

Persons: —, John Yuksel, Matine Yuksel, I've, He's, Matine, Francisco, COVID, Beltways, John, Matine Yuksel John, There's, It's Organizations: Service, Business, Walmart, Apple Locations: San Francisco, Dubuque , Iowa, Cincinnati, Northern Kentucky, Arizona, San Diego, Francisco, Istanbul, Midwest, Iowa, Dubuque, Mississippi, Mount Adams, It's, California, Tucson

The information for the following product(s) has been collected independently by Business Insider: Wyndham Rewards® Earner Plus Card, Wyndham Rewards® Earner Card, Wyndham Rewards® Earner Business Card, Capital One Spark Miles for Business†, Capital One Spark Miles Select for Business†. Introduction to Wyndham RewardsWhile it's often overshadowed by bigger and flashier hotel loyalty programs, Wyndham Rewards deserves some attention, too. How to join Wyndham Rewards and start earning points and elite statusTravelers can enroll in Wyndham Rewards for free, and automatically receive free Wi-Fi during stays. Earning Wyndham pointsThere are myriad ways to accumulate Wyndham points, beginning with the most obvious option: Hotel stays through Wyndham. Wyndham Rewards frequently asked questionsHow can I earn Wyndham Rewards points without staying at a hotel?

Persons: Wyndham, Howard Johnson, gofree Wyndham, Cardholders, cardholders, Wyndham Timeshare, you'll, it's, Wyndham Rewards, redemptions, Maui Oceanfront, Redemptions, Eric Rosen Eric Rosen, Condé Organizations: Business, Wyndham Rewards, Wyndham, Business †, Vacasa, Read, Wyndham Grand, Ramada, Marriott Bonvoy, Hilton, Diamond, Base, Caesars Entertainment, Walmart, Target, Avis, Caesars, Staples, Lowes, Apple, Marathon Gas, Wyndham Hotels, Club Wyndham, Caesars Rewards, Costco, National Parks Conservation Association, National Geographic, Bloomberg Locations: AmericInn, La, Travelodge, North America, Belize, Costa Rica, Wyndham, Paris, Las Vegas, Macy's, Grubhub, Waikiki, Oahu, Kona, Hai Villas, Kauai, Chevron, Los Angeles, Australia, Kenya, Laos

☆ Amazon is slashing prices on 4,000 grocery items, joining Target and Walmart
▼ + stars: | 2024-05-24 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Amazon Fresh has joined the growing ranks of retailers that are cutting prices. It is discounting thousands of grocery items in a bid to entice price-conscious shoppers to add a little bit more to their shopping carts. In the game of chicken between stores and shoppers, it’s the stores that finally appear to be yielding. For Prime members, Amazon Fresh is stacking more savings by offering a 10% discount on hundreds of online grocery items. Last week, Walmart (WMT) said it has rolled back prices on nearly 7,000 items in its stores, saying it was seeing deflation on some key grocery items.

Persons: Sarah Wyeth, “ There’s, ” Wyeth, ” Claire Peters Organizations: New, New York CNN, Target, Walmart, Shoppers, CNN, Savings, Amazon, Aldi Locations: New York, United States

☆ Robinhood CEO explains how he got employees back to the office after initially saying the company was 'remote-first'
▼ + stars: | 2024-05-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

The past few years have seen some companies declare themselves remote-first, only to backtrack and mandate workers return to the office. One such company is Robinhood. Vlad Tenev, a cofounder and the CEO of the financial-services firm, explained in a new interview how he brought employees back to the office after initially telling them they were working at a remote-first company. AdvertisementTenev said "explaining the why of things" was important in getting employees on board with the policy reversal. In 2022 , Robinhood declared itself a remote-first company and said it would be "staying primarily remote."

Persons: Vlad Tenev, Tenev, Logan Bartlett, we've, They've, Robinhood Organizations: Service, Apple, Google, Walmart Locations: Robinhood

☆ Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks
▼ + stars: | 2024-05-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Global retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer. Retail media is expected to represent a larger percentage of digital advertising spending, which has begun to eclipse traditional media spending, growing from 18.9% of that segment in 2023 to 25.7% in 2027, according to eMarketer. "What we hear from brands most directly is they no longer wake up with a recipe to buy X amount of TV, X amount of social, X amount of digital. GSTV screens reach 115 million viewers per month across 49 states. "It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners.

Persons: Sean McCaffrey, McCaffrey, Mark Boidman Organizations: Television, Facebook, Walmart, Kroger, WPP, Global, Brands, Solomon Partners Locations: eMarketer, It's

☆ CIO shares Nvidia alternatives to cash in on the AI theme: 'There's another way to play this'
▼ + stars: | 2024-05-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Its shares jumped in extended trading but given the "blowout earnings," Nancy Tengler of Laffer Tengler Investments said she expected to see a higher move. "We think there's another way to play this," she said, adding these are namely buying into "old economy companies," as well as data center names. One such "old economy" name is Walmart , according to her. They've embraced not only digital solutions, but robotics, generative AI and their ad business in cloud computing, obviously in their e-commerce business," she said. Quanta Services , which builds infrastructure for electric power and renewables, as well as provides utility performance services, was another pick from Tengler.

Persons: Nancy Tengler, CNBC's, They've, Tengler, Kif Leswing Organizations: Nvidia, Google, Microsoft, Meta, Investments, Walmart, Carrier, Oracle, Broadcom

☆ Google Search’s AI falsely said Obama is a Muslim. Now it’s turning off some results
▼ + stars: | 2024-05-24 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

Google earlier this month introduced an AI-generated search results overview tool, which summarizes search results so that users don’t have to click through multiple links to get quick answers to their questions. Another user posted that a Google AI summary said that “none of Africa’s 54 recognized countries start with the letter ‘K’” — clearly forgetting Kenya. Google confirmed to CNN on Friday that the AI overviews for both queries had been removed for violating the company’s policies. CNN also searched: “data used for google ai training.” In its response, the AI overview acknowledged that “it’s unclear if Google prevents copyrighted materials from being included” in the online data scraped to train its AI models, referencing a major concern about how AI firms operate. Google’s Search Labs webpage lets users in areas where AI search overviews have rolled out toggle the feature on and off.

Persons: Barack Obama, Obama, Colette Garcia, we’ve Organizations: New, New York CNN, Google, CNN, Gemini, Walmart, ” Locations: New York, Kenya, White

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