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☆ Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared
▼ + stars: | 2024-10-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

On Monday, British tech lobby group Startup Coalition warned in a blog post that there was a risk Reeves' tax plans could result in a tech "brain drain.". (Photo by Oli Scarff/Getty Images)LONDON — Britain's Labour government on Wednesday announced plans to raise the rate of capital gains tax on share sales, news that offered some relief for technology entrepreneurs who feared a more intense tax raid on the wealthy. Finance Minister Rachel Reeves on Wednesday hiked capital gains tax (CGT) — a levy on the profit investors make from the sale of an investment — as part of her far-reaching budget announcement. The lower capital gains tax rate will be increased to 18% from 10%, while the higher rate will climb to 24% from 20%, Reeves said. She stressed that this still represented a "significant gap compared to the higher rate of capital gains tax."

Persons: Reeves, Oli Scarff, Rachel Reeves, quashing Organizations: Startup Coalition, Labour, Wednesday, Finance, National Insurance Locations: British, BADR

☆ Saudi sovereign wealth fund announces $2 billion deal for new Brookfield Middle East platform
▼ + stars: | 2024-10-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Saudi Arabia's Public Investment Fund on Wednesday signed a memorandum of understanding with Brookfield Asset Management, under which the wealth fund will serve as a strategic anchor investor for the asset manager's newly announced private equity vehicle for the region, Brookfield Middle East Partners. Signed at the eighth edition of Future Investment Initiative, Saudi Arabia's flagship annual economic conference in Riyadh, the non-binding agreement marks the kingdom's latest push for financial partnerships that boost private equity investment and economic development within its borders. The move is in line with Saudi Arabia's recently-updated Investment Law, which seeks to attract more foreign direct investment — it's set itself a lofty target of $100 billion in annual FDI by 2030. Currently, that figure has averaged around $12 billion per year since Vision 2030 was announced in 2017, according to data from the kingdom's investment ministry — still a long way from that goal. The PIF, the kingdom's $925 billion sovereign wealth fund, has deployed billions in capital around the world as it aims to diversify Saudi Arabia's revenue streams away from oil, materializing the central goal of Crown Prince Mohammed bin Salman's Vision 2030 campaign.

Persons: —, Prince Mohammed bin Salman's, Yasir al Rumayyan, Bruce Flatt Organizations: Saudi, Public Investment Fund, Wednesday, Brookfield Asset Management, Brookfield Middle East Partners, Future Investment Initiative, Saudi Arabia's, Brookfield, Brookfield Academy Locations: Riyadh, Saudi Arabia, Saudi

☆ RBC's Brad Erickson on Alphabet earnings, what to expect from Meta and Amazon
▼ + stars: | 2024-10-30 | 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 EmailRBC's Brad Erickson on Alphabet earnings, what to expect from Meta and AmazonBrad Erickson, RBC Capital Markets senior analyst for internet services, joins 'Squawk Box' to discuss Alphabet's quarterly earnings results, state of the AI technology race, what to expect from Amazon and Meta's earnings, and more.

Persons: Brad Erickson Organizations: Meta, RBC Capital Markets

☆ AI for Cybersecurity
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: 1 min

With the dawn of the AI Age comes a new era in cybersecurity. How is the new technology poised to revolutionize cybersecurity as we know it, and how are companies using AI in their cyber defense practices right now? Guests: Shailaja Shankar, Cisco SVP Engineering, Security Business Group & Sanjay Macwan, Vonage CIO & CISO

Persons: Shailaja Shankar, Sanjay Macwan Organizations: Cisco SVP Engineering, Security Business Group, Vonage Locations: cybersecurity

☆ Saudi Arabia is pulling back on a global spending spree to focus on its own projects
▼ + stars: | 2024-10-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Now the Kingdom plans to cut its foreign investment to prioritize domestic spending. AI is the new focus of investment as Saudi Arabia looks to position itself as a global technology hub. AdvertisementSaudi Arabia is pulling back on its global spending spree to focus on domestic investments. In September, Saudi Arabia held the third Global AI Summit, attracting a host of high-profile leaders and dealmakers. The new focus on domestic investment comes as Saudi Arabia's spending on Neom, its futuristic megacity in the desert, hit $1 trillion.

Persons: —, Yasir Al Rumayyan, we've, Al Rumayyan, Yasir Al, Rumayyan, Hamad I Mohammed, Uber, Andreessen Horowitz Organizations: Service, Public Investment Fund, Future Investment, Economic, REUTERS, Investors, Saudi Press Agency, Financial Times, Saudi, AI, Bloomberg, Sindalah Locations: Saudi, Saudi Arabia, Riyadh, Davos, Switzerland, Neom

I found what I was looking for in the Coway Airmega AP-1512HH Mighty, an air purifier designed for medium-to-large rooms. Coway Airmega AP-1512HH Mighty Air Purifier If you need a powerful, energy-efficient air purifier for medium to large rooms, the Airmega AP-1521HH Mighty is your best option. AdvertisementOur review of the Coway Airmega AP-1521HH MightyThe Coway Airmega AP-1512HH Mighty prefilter captures large particles like pet fur. Air quality sensor: Open the air quality sensor cover every two months (or sooner in dusty environments) and clean it with a soft brush or vacuum cleaner. Heidi Borst/Business InsiderConsider the Coway Airmega AP-1512HH Mighty if you're seeking an effective and user-friendly air purifier for a medium-to-large environment.

Persons: unpackaging, Heidi Borst, it's, Max Organizations: Business, Amazon, Walmart, Energy, Environmental Protection Agency, PM, Honeywell Locations: Eco

☆ Arizona is the epicenter of the debate over how Trump's mass deportation plan would hit the economy
▼ + stars: | 2024-10-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

Donald Trump proposed mass deportation to lower housing costs and boost job opportunities. AdvertisementThe mass deportation of people living in the US illegally has been one of the cornerstones of the Republican presidential ticket leading up to the November election. Many Democrats say mass deportations would hurt businesses and employment opportunities for all Americans, in addition to separating families and displacing millions of people. She told BI that a mass deportation would devastate the agriculture, construction, and hospitality industries. AdvertisementHow much a mass deportation would cost the governmentThe Trump campaign has talked little about how mass deportations could be implemented and on what scale.

Persons: Donald Trump, —, Trump, Kamala Harris, Biden, Harris, Douglas Nicholls, Nicholls, Regina Romero, Romero, " Romero, Duncan Braid, Braid, Davis, Chloe East, Taylor Rogers, Trump's, Rogers, hasn't, Marcus Noland Organizations: Service, Republican, Pew Research Center, Business, Pew Research, Trump, Immigration, Customs, American Compass, University of California, Brookings Institution, ICE, New York Times, American Immigration, Taxation, Economic, Manhattan Institute, FEMA, RNC, Peterson Institute for International Economics, American Immigration Council, Peterson Institute Locations: Los Angeles, Springfield, Aurora, Ohio, Colorado, Arizona, Yuma , Arizona, Mexico, Yuma, Tucson, Reading , Pennsylvania, US, Aurora , Colorado

Right now, you can vote to help decide who will be the next CNN Hero of the Year and receive an additional $100,000 to continue their inspiring work. At 10, he joined El Sistema, a globally acclaimed program providing free classical music training to children from under-resourced communities. After moving to Gothenburg the following year, he created a music group for refugees and started with 13 students. He knew playing music together would help them make friends, express themselves, and rebuild their self-esteem. “They can be one of the most cost-effective ways to keep girls in school.”Ultimately, McGriff founded Style Her Empowered, known as SHE.

Persons: “, ”, Anderson Cooper, Laura Coates, Ron Davis Alvarez, ” Alvarez, Alvarez, Stephen Knight, they’ll, Knight, Knight’s, Jayde, Payton McGriff, McGriff, ” McGriff, Rachel Rutter, CNN “ They’ve, Rutter, ” Rutter, Yamilée Toussaint, CNN “, Toussaint, ” Toussaint Organizations: CNN, Summit, CNN Heroes, “ CNN, El Sistema, Orchestra, CNN “, University of Idaho, Libertad, Children’s, MIT Locations: Sweden, Togo, Miami, CNNHeroes.com, Caracas, Venezuela, “, Stockholm, Syria, Iraq, Afghanistan, Gothenburg, Pennsylvania

WASHINGTON — House Speaker Mike Johnson took a dig at Obamacare during an event in Pennsylvania on Monday, telling a crowd there will be “massive” health care changes in America if Donald Trump wins the election. “No Obamacare,” Johnson responded, rolling his eyes. And so health care is one of the sectors and we need this across the board,” Johnson said. Johnson, who has crisscrossed the country to campaign for GOP House candidates, spoke only in broad terms at his Monday event. “If you take government bureaucrats out of the health care equation and you have doctor-patient relationships, it’s better for everybody.

Persons: Mike Johnson, Donald Trump, ” Johnson, Ryan Mackenzie, Johnson, Kamala Harris, ” Harris, he’s, Harris, ” Sen, Tom Cotton, Sen, Mitch McConnell, It’s, ”, “ Organizations: WASHINGTON, GOP, NBC News, Affordable, Trump, Republican, ACA, GOP House Locations: Pennsylvania, America, Bethlehem, U.S, Obamacare, Ky

☆ Vast ancient Mayan city is found in a Mexican jungle — by accident
▼ + stars: | 2024-10-29 | by ( Hannah Peart | Hannah Peart Is An Intern In The Nbc News London Bureau. | ) www.nbcnews.com time to read: +1 min

A graduate student analyzing publicly available drone data in Mexico unexpectedly stumbled across a huge ancient Mayan city buried beneath dense jungle. For centuries, the city lay hidden amid jungle canopy in the state of Campeche, on the Gulf of Mexico. New research published Tuesday in the journal Antiquity reveals sites that in total cover area about one-and-a-half times the size of Washington, D.C. The data, gathered by a research group studying land-use patterns, came to light using modern drone mapping technology known as LiDAR — light detection and ranging equipment. LiDAR maps are used by a wide range of researchers to collect data for archeological and nonarchaeological purposes, but Auld-Thomas took the data and analyzed the maps with methods used by archaeologists.

Persons: Luke Auld, Thomas, Marcello Canuto, Auld Organizations: Tulane University Locations: Mexico, Campeche, of Mexico, Washington ,, Mexican, Yucatan, Tikal, Guatemala, New Orleans , Louisiana

☆ Citi calls these smaller stocks buys that are expected to rally from here
▼ + stars: | 2024-10-29 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Citi forecasts an expected total return of 33% for the name. Earlier this month, JPMorgan raised its price target on the name to $195, which corresponds to a potential upside of 41% from Monday's close. Citi also highlighted Ally Financial as a stock to buy, and the firm sees an expected total return of 48% for the name. Shane's $40 price target is nearly 14% higher than where shares of Ally closed on Monday. Wlodarczak's $170 price target implies a potential upside of 46% for the stock.

Persons: Russell, Scott Chronert, Said, Matthew Boss, Hollister, Richard Shane, Shane's, Jeffrey Wlodarczak Organizations: Citi, megacap, Federal Reserve, Citi U.S, Abercrombie, Fitch, JPMorgan, Entertainment, Research Locations: Monday's

☆ ByteDance founder tops China's rich list for the first time, beating Tencent and Nongfu heads
▼ + stars: | 2024-10-29 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

ByteDance founder Zhang Yiming for the first time has emerged as China's richest person, according to a list compiled by Hurun Research Institute, leaving behind Nongfu Spring Chairperson Zhong Shanshan who has topped the rankings for three years. Midea founder He Xiangjian and CATL's CEO Zeng Yuqun took fifth and sixth places on the list. "The Hurun China Rich List has shrunk for an unprecedented third year running, as China's economy and stock markets had a difficult year," said Rupert Hoogewerf, Hurun report chairman and chief researcher. The current rich list predominantly comprises entrepreneurs from the technology, consumer electronics and new energy space, from what used to be dominated by real estate developers, Hoogewerf noted. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," he said.

Persons: Zhang Yiming, Zhong Shanshan, Zhang, Zhong, ByteDance, Hurun, Ma Huateng, Colin Huang, Xiangjian, Zeng Yuqun, Rupert Hoogewerf, Hoogewerf, ByteDance's Zhang, Huang Organizations: Hurun Research Institute, Nongfu, Research Locations: Shanghai, China

☆ Asia-Pacific markets are set to open higher with Nikkei poised to extend gains
▼ + stars: | 2024-10-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

Asia-Pacific markets are set to open higher, tracking gains on Wall Street as investors looked toward a slate of megacap technology earnings to keep propelling the Nasdaq Composite to new heights this week. Japan's Nikkei 225 futures pointed to a slightly stronger open for the market, with the futures contract in Chicago at 38,715 and its counterpart in Osaka at 38,630 compared to the previous close of 38,605.53. This comes after the ruling Liberal Democratic Party lost its parliamentary majority after voters cast their ballots on Sunday to determine the control of the lower house, marking the first time since 2009 that Japan's ruling coalition lost its majority. Australia's S&P/ASX 200 was 0.44% higher in its first hour of trade. Hong Kong's Hang Seng index futures were at 20,733, higher than the HSI's last close of 20,599.36.

Persons: Australia's Organizations: Nasdaq, Nikkei, Liberal Democratic Party Locations: Asia, Pacific, Chicago, Osaka

☆ CNBC Daily Open: Stocks are approaching the hottest period of the year
▼ + stars: | 2024-10-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Oil slump boosts marketsAll major U.S. indexes rose Monday on soft oil prices while investors awaited Big Tech earnings. Japan's Nikkei 225 extended gains to a second day, up 0.7% as the country's jobless rate for September dropped to 2.4% from 2.5% the previous month. [PRO] How to trade Japan's electionAfter Japan voted on Monday, the Nikkei 225 rose on the results.

Persons: Irene, Shigeru Ishiba Organizations: CNBC, Big Tech, Japan's Nikkei, Liberal Democratic Party, Nasdaq, CR Beverage, HSBC, Japan, Nikkei Locations: Lower Manhattan , New York, Asia, Pacific, Japan, U.S, Hong Kong, IPOs

☆ At least $28 billion of deals expected to be announced at the FII, CEO says
▼ + stars: | 2024-10-29 | 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 EmailAt least $28 billion of deals expected to be announced at the FII, CEO saysRichard Attias, Future Investment Initiative Institute CEO, says the conference will focus on renewable energy, technology and food security.

Persons: Richard Attias Organizations: Future Investment Initiative Institute

☆ Google delivers a big earnings beat fueled by AI growth
▼ + stars: | 2024-10-29 | by ( Ana Altchek | Geoff Weiss | ) www.businessinsider.com time to read: +5 min

The company beat on revenue, EPS, its ads business, and Google Cloud revenue, which grew 35% year over year. Revenue from Google Cloud grew 35% year over year to $11.4 billion, bolstered by "accelerated growth" in the company's AI products, the company said. Here are the key numbers for the third quarter compared to analysts' estimates:AdvertisementEarnings per share : $2.12 vs. $1.83 expected: $2.12 vs. $1.83 expected Revenue : $88.27 billion vs. $86.44 billion expected: $88.27 billion vs. $86.44 billion expected Google Advertising : $65.9 billion vs. $65.5 billion: $65.9 billion vs. $65.5 billion YouTube advertising revenue : $8.92 billion vs. $8.89 billion expected: $8.92 billion vs. $8.89 billion expected Google Cloud revenue: $11.35 billion vs. $10.79 billion expectedSource for analyst expectations: BloombergAlphabet and Google CEO Sundar Pichai said the company's AI investments were "paying off." The AI results will now reach over 1 billion users on a monthly basis, he said, and ads in AI Overview are "performing well." Related stories"Today, more than a quarter of all new code at Google is generated by AI then reviewed and accepted by engineers," Pichai said.

Persons: Sundar Pichai, —, Pichai, Demis Hassabis, Evelyn Mitchell, Wolf, Mitchell Organizations: Google, Service, Google Cloud, Bloomberg, Apple, DOJ, Business

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Netflix, Tesla, Meta, Uber, Amazon, Walmart, First Solar & more
▼ + stars: | 2024-10-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Evercore ISI reiterates Amazon as overweight Evercore says it's sticking with the stock ahead of earnings later this week. Evercore ISI reiterates Uber as overweight Evercore says it's bullish on Uber heading into earnings on Thursday. Janney upgrades First Solar to buy from neutral Janney says the solar company is attractive ahead of earnings on Tuesday afternoon. " Evercore ISI reiterates Meta as overweight Evercore says it's sticking with Meta ahead of earnings on Wednesday. Barclays reiterates Tesla as equal weight Barclays raised its price target on the stock to $235 per share from $220.

Persons: Evercore, Uber, it's bullish, Janney, Goldman Sachs, Ford, Goldman, Wells, Tesla, Morgan Stanley, Bernstein, TD Cowen, Cowen, it's, Mizuho, Stephens, ROA, Guggenheim, HOOD, we've Organizations: Ford, CTV, APP, Citi, Apple, Apple Intelligence, Barclays, Walmart, Mizuho, Netflix, Guggenheim, Six Flags Entertainment Locations: Mexican, Brazil, Mexico, China, U.S

☆ AI boom thrusts Europe between power-hungry data centers and environmental goals
▼ + stars: | 2024-10-29 | by ( April Roach | ) www.cnbc.com time to read: +6 min

Major equipment suppliers in Europe say that U.S. chip designers are calling on them to lower their water temperatures to accommodate the hotter AI chips, according to Herbert Radlinger, managing director at NDC-GARBE. Energy efficiency is high on the European Commission's agenda, as it seeks to reach its goal of reducing energy consumption by 11.7% by 2030. The EU predicted in 2018 that energy consumption of data centers could rise 28% by 2030, but the advent of AI is expected to boost that number two or threefold in some countries. Many of the recent discussions have focused on different ways to source "prime power" for AI data centers and for the potential for more collaboration with utilities, said Steven Carlini, chief advocate of AI and data centers and vice president at Schneider Electric. Liquid cooling will require a "reconfiguration," Gunen explained, adding that new data centers are already coming ready with this technology.

Persons: Goldman Sachs, Andrey Korolenko, Nvidia's Blackwell, we've, Winterson, CNBC Michael Winterson, Michael Winterson, Herbert Radlinger, Steven Carlini, Carlini, Schneider, Meta, Gunen, Equinix Organizations: Luza, CNBC, European Data Center Association, NDC, EU, Energy, Directive, Schneider, Schneider Electric, European, Nvidia, Blackwell Locations: Europe, Brussels, Equinix

☆ Scandals in China and Australia hit Big 4 giant PwC, but global revenues reached a record high
▼ + stars: | 2024-10-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

After two scandals this year, PwC's business in the Asia-Pacific region has fallen. While PwC faced these regional setbacks, it hit record-high revenues and hired 10,000 new employees. AdvertisementAfter scandals in Australia and China this year, PwC has lost business in the Asia-pacific region. AdvertisementDespite the regional impact on the business, PwC posted an overall growth of 3.7% to reach record-high gross revenues of $55.4 billion. Like other leading consultancies, PwC has been hit by falling demand for consulting services, and its growth rate has slowed.

Persons: PwC, —, Mohamed Kande, Uber, we've Organizations: Service, Big, PwC, Google, Australian Financial, EY, Deloitte Locations: Asia, China, Australia, India

☆ Oracle announces new AI-powered electronic health record
▼ + stars: | 2024-10-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

Oracle's new offering could help boost its position within the fiercely competitive EHR market, where it has struggled to maintain its footing in recent years. It's almost like having your own resident," Seema Verma, executive vice president and general manager of Oracle Health and Life Sciences, told CNBC in an interview. Ideally, this will allow doctors to spend less time searching through records and more time caring for patients, Oracle said. An electronic health record, or an EHR, is a digital version of a patient's medical history that's updated by doctors and nurses over time. The new EHR has been in the works since Oracle acquired Cerner, but it was not built on top of Cerner's existing infrastructure, Verma said.

Persons: It's, Seema Verma, Oracle's, Oracle, it's, Verma, Uliyar Organizations: Oracle, Epic Systems, KLAS Research, Oracle Health, Life Sciences, CNBC

☆ Google CEO says more than a quarter of the company's new code is created by AI
▼ + stars: | 2024-10-29 | by ( Hugh Langley | ) www.businessinsider.com time to read: +2 min

More than a quarter of new code at Google is made by AI and then checked by employees. Google is doubling down on AI internally to make its business more efficient. Business Insider previously reported that Google launched an internal AI model named "Goose." More than a quarter of new code created at Google is generated by AI, said CEO Sundar Pichai on Tuesday during the company's Q3 earnings call. AdvertisementBusiness Insider reported in February that the company had launched a new internal AI model named "Goose" to help employees code and build products.

Persons: —, Sundar Pichai, Pichai, Goose Organizations: Google, Business, Service, BI, Company

☆ Relax with the extracurricular activities — downtime is equally important for kids
▼ + stars: | 2024-10-29 | by ( Cailey Griffin | ) www.businessinsider.com time to read: +6 min

AdvertisementWhile your child may naturally excel at their structured activities, parents need to remove the pressure around achieving a certain level of success in their activities. Related storiesIt's also important to check in with your child on how they're feeling about the structured activities they're already involved in. "It's funny that we even call it downtime," Gray told Business Insider. For some kids, downtime may mean catching up on a book alone; for others, it may mean playing a new video game they've wanted to try. AdvertisementFener Sitkoff recommended parents center the idea of balance when considering their involvement with their kids' downtime.

Persons: —, Erica Fener Sitkoff, Peter Gray, Fener Stikoff, they're, Gray, Fener Sitkoff, Sitkoff, They're, they've, hasn't, you've, It's Organizations: Service, Boston College, Business

☆ Robert Downey Jr. says he would 'sue all future executives' if Marvel replicated his likeness. He's the second 'Avengers' star to speak out against AI.
▼ + stars: | 2024-10-29 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Robert Downey Jr. says he would sue "future executives" if Marvel uses AI to replicate his likeness. Downey Jr. is the second "Avengers" star after Scarlett Johansson to criticize AI. AdvertisementRobert Downey Jr. told tech journalist Kara Swisher he would sue Marvel if the studio replicated his likeness with AI after his death. But Downey Jr. will return to the MCU to play a villain, Doctor Doom, in 2026's "Avengers: Doomsday." He added that he's not concerned about Marvel using AI for the moment.

Persons: Robert Downey Jr, Kara Swisher, Downey, Scarlett Johansson, —, Downey Jr, Tony Stark, Josh Brolin, Doctor Doom, he's, Swisher, he'd, Tony Stark's, I'm, gals, Christopher Reeve, OpenAI, Johansson, Sam Altman, Altman, cybercrime Organizations: Marvel, Service, Marvel Studios, Warner Bros

☆ Microsoft Copilot AI use extends deep into corporate America, but companies aren’t 100% sold
▼ + stars: | 2024-10-29 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

When asked whether it's been worth the cost ( $30 monthly per user in the case of Copilot), tech leaders say they aren't sure. According to recent Deloitte research, two-thirds of organizations are increasing gen AI investments based on "strong early value to date." There are multiple reasons why companies will still be short on confidence when it comes to enterprise AI adoption, according to Deloitte. The Azure cloud offering from its biggest AI partner and AI investment, OpenAI, is in use at nearly two-thirds of companies. Forty-six percent of CNBC survey respondents said that within their organizations at least half of employees are now using AI.

Persons: it's, Jim Rowan, Anthropic, Mistral, Eric Schmidt —, Morgan Stanley, Copilot, Rowan Organizations: CNBC, Microsoft, CNBC Technology, Council, Deloitte, Microsoft Microsoft, Fortune, Capital Group, Disney, Dow, Kyndryl, Novartis, Deloitte Consulting, Meta, Silicon, OpenAI, AIs Locations: Europe

☆ U.S. finalizes rules to curb AI investments in China, impose other restrictions
▼ + stars: | 2024-10-29 | by ( ) www.cnbc.com time to read: +1 min

A Chinese flag is displayed next to a "Made in China" sign seen on a printed circuit board with semiconductor chips, in this illustration picture taken February 17, 2023. The Biden administration said on Monday it is finalizing rules that will limit U.S. investments in artificial intelligence and other technology sectors in China that could threaten U.S. national security. The new rules are effective Jan. 2 and will be overseen by Treasury's newly created Office of Global Transactions. Treasury said the "narrow set of technologies is core to the next generation of military, cybersecurity, surveillance, and intelligence applications." The rule covers technologies like "cutting-edge code-breaking computer systems or next-generation fighter jets," added Paul Rosen, a senior Treasury official.

Persons: Biden, Joe Biden, Treasury's, Paul Rosen Organizations: U.S . Treasury, Global Transactions, Treasury Locations: China, U.S

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