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☆ Saudi Arabia is desperately trying to convince everyone that Neom megaproject is going just fine
▼ + stars: | 2024-04-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia insists its Neom megacity project is on track. The Saudi economy minister told CNBC there was "no change in scale" for the project. The kingdom's been battling reports that its ambitious desert city has suffered setbacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia says its Neom megacity project is going ahead as planned.

Persons: — Organizations: CNBC, Service, Bloomberg, Business Locations: Saudi Arabia, Saudi

☆ Saudi Arabia will 'downscale' some Vision 2030 projects amid 'challenges,' minister says
▼ + stars: | 2024-04-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia's Neom project secured a $2.7 billion credit line from local lenders. The Saudi finance minister said the kingdom was "very pleased" with progress on Vision 203 goals. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia is trying to counter reports that its Neom project is struggling.

Persons: —, Mohammed Al Jadaan Organizations: Saudi, Service, Business Locations: Saudi, Saudi Arabia, Riyadh, Sunday

☆ Meta's Oversight Board is reportedly planning to cut staff
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewMeta's Oversight Board is preparing to make some job cuts, The Washington Post reported. Mark Zuckerberg announced the Oversight Board, which operates independently from Meta, in late 2018, and it began operating in October 2020. AdvertisementIn a statement sent to Business Insider, Stephen Neal, the Oversight Board Trust's chair, confirmed it was making "targeted cuts." AdvertisementA Meta representative told BI that the company "remains committed to the Oversight Board, which operates independently from the company, and continues to strongly support its work." Meta recently announced it would begin labeling a wider variety of content with its "Made with AI" label after an Oversight Board recommendation.

Persons: —, Mark Zuckerberg, Stephen Neal, Neal, Meta Organizations: Service, Washington Post, Facebook, Business, Meta, Financial Times, Big Tech

☆ Elon Musk comes out fighting as China throws Tesla a lifeline
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Elon Musk made a surprise visit to China, meeting officials and striking a deal with Baidu. The deal brings Tesla a step closer to introducing its self-driving features in cars sold in China. AdvertisementElon Musk's surprise visit to China appears to have paid off. Elon Musk was taken by minibus to his private jet at Beijing airport on Monday after a surprise visit to China. Musk's battle planMusk's China visit came amid tough times for Tesla.

Persons: Elon Musk, Tesla, —, Elon Musk's, Narendra Modi, Musk, Li Qiang, Greg Baker, Dan Ives, Wall, Telsa, Musk's, he's Organizations: Baidu, Service, Tesla, Bloomberg, EVs, Getty, Bloomberg TV, Business Locations: China, Beijing, India, AFP

☆ Saudi Arabia wants big spenders for the first part of its Neom megaproject
▼ + stars: | 2024-04-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Saudi Arabia plans to open the first part of its Neom megaproject this year. Saudi Arabia is pushing to distinguish itself in the high-end luxury market to compete with Dubai. AdvertisementSaudi Arabia plans to open the first region of its Neom megacity by the end of the year. Neom recently ended investor roadshows in China by confirming the luxury island resort would open this year, Arab News reported. A rendering of The Line, part of the Neom project planned by Saudi Arabia.

Persons: —, Neom, roadshows, It's, Marriott Bonvoy, Chadi, MDLBEAST, Kristian Coates Ulrichsen, Saudi Arabia hasn't, Ulrichsen, Saudi Crown Prince Mohammed bin Salman's Organizations: Dubai, Service, Arab News, Marriott, United, Rice, Baker Institute for Public Policy, Emirates, Saudi, Bloomberg, Business Locations: Saudi Arabia, Sindalah, China, Saudi, Vives, Dubai, United Arab Emirates, Saudi Crown, Gulf Kingdom

☆ Sundar Pichai just showed the doubters he's the right general for Google's AI battle
▼ + stars: | 2024-04-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Read previewThere's an AI battle raging, and Sundar Pichai appears to be Google's wartime general. With Pichai at the helm, Alphabet just reported blockbuster first-quarter earnings that surpassed analysts' estimates and sent the stock soaring. The CEO told analysts that Google was well "positioned for the next wave of AI innovation and the opportunity ahead," reminding them the company had been "AI-first" since 2016. This story is available exclusively to Business Insider subscribers. Google did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Sundar Pichai, Pichai, Googlers, He's Organizations: Service, Google, Business, Microsoft

☆ Mark Zuckerberg thinks AI is Meta's future. Not everyone is convinced.
▼ + stars: | 2024-04-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

AdvertisementNot everyone is on board with Mark Zuckerberg's AI enthusiasm. Related storiesThat slide shows that investors' tolerance for huge AI spending without clear revenue gains might be beginning to wane. Zuckerberg's also been praised for some of his strategies around Meta's AI development, including the decision to open-source models and stockpile GPUs. While Meta's AI products, including Llama 3, have been generally well received, the company is not selling any version of its newest AI model, which is largely open source. Zuckerberg's newest AI model even received a nod of approval from old rival Elon Musk.

Persons: Mark Zuckerberg, —, Mark, Zuckerberg, he'd, Zuckerberg's, we've, Meta, OpenAI, Elon Musk, It's, he's Organizations: Service, Big Tech, Google, Microsoft, Meta, Facebook, Business

☆ Sundar Pichai admits the generative AI boom took Google by surprise
▼ + stars: | 2024-04-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Google's CEO Sundar Pichai says the sudden public interest in AI surprised the company. During an event at Stanford University, Pichai said he had a "different sense of the trajectory." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle CEO Sundar Pichai has admitted that the generative AI boom caught Google by surprise. During an event at Stanford University earlier this month, the tech boss said his company was "surprised" by the sudden public interest in AI.

Persons: Sundar Pichai, Pichai, — Organizations: Stanford University, Google, Service, Business

☆ Elon Musk is waging war on multiple fronts — and now Australia is in the firing line
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Musk has been in public spats with Brazil's Supreme Court and the Australian government this year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Musk said on Friday: "The Australian censorship commissar is demanding global content bans." Musk said on X the content had been "censored" for Australia, "pending legal appeal, and it is stored only on servers in the USA." Representatives for Musk did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: Elon, Musk, —, That's, he's, Mar Mari Emmanuel, Australia's, Tanya Plibersek, Alexandre de Moraes, de Moraes, Brazil's, De Moraes, Volodymyr Zelenskyy, Zelenskyy's, Donald Trump Jr Organizations: Twitter, Brazil's, Service, Reuters, Australia's eSafety, BBC News, SpaceX, Getty, Business Locations: Sydney, Australian, Australia's, Australia, USA, Brazil, Russia, Ukraine, Crimea, Ireland, Dublin

☆ Apple sinks to 3rd place in China as iPhone sales slide
▼ + stars: | 2024-04-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A slide in iPhone sales has left Apple in third place in China, per Counterpoint Research estimates. Chinese-based rivals Vivo and Honor outpaced Apple's sales in the first quarter of the year, per Counterpoint data. AdvertisementIn stark contrast with Apple's slide, Huawei sales soared by almost 70% compared with the first three months of 2023. Counterpoint research analyst Ivan Lam said in a note that Huawei's surge had directly affected iPhone sales in China. NurPhoto/Getty ImagesDespite the stiff competition, Lam said iPhone sales could still reverse their downward slide.

Persons: —, Apple's, Ivan Lam, Apple, Tim Cook, Cook, Lam Organizations: Apple, Service, Counterpoint Research, Vivo, Huawei, China, Forum, Publishing, Getty, European Commission, Department of Justice, Business Locations: China, Huawei's, Shanghai, Beijing, Europe

☆ Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
▼ + stars: | 2024-04-22 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia just took its Neom roadshow to China. Neom officials visited Beijing, Shanghai, and Hong Kong in an attempt to court Chinese investors. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia took its Neom roadshow to China amid ongoing speculation about the scope of the project and its finances. Neom officials visited Beijing, Shanghai, and Hong Kong last week in an attempt to court Chinese investors and shed more light on the mysterious megacity.

Persons: — Organizations: Service, AFP, Business Locations: Saudi Arabia, China, Beijing, Shanghai, Hong Kong

☆ Someone added a beard to a photo of Zuck. People liked it so much that they want him to grow one for real.
▼ + stars: | 2024-04-22 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

An edited image showing Mark Zuckerberg with a beard has raised a lot of eyebrows. The picture has been shared widely, with some users failing to notice Zuck's new beard was fake. An edited image of Zuckerberg with a fake beard has been going viral on social media. AdvertisementMe: Bearded Zuck you have to stop. Some users even took the opportunity to encourage the Meta CEO to grow some real facial hair.

Persons: Mark Zuckerberg, Priscilla Chan, —, Zuckerberg, Mike Rundle, Kate Middleton's, Varun Mayya Organizations: Service Locations: @flyosity, Kensington

☆ The Tesla strikes in Sweden are dragging on and unions have doubled down, but Elon Musk thinks the 'storm has passed'
▼ + stars: | 2024-04-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Swedish Tesla workers say they are still on strike, contradicting Elon Musk's statements. The strike, led by the IF Metall union, has attracted solidarity from unions across Scandinavia. AdvertisementSwedish Tesla workers say they're still very much on strike — despite Elon Musk's claims to the contrary. The Swedish workers want to force a collective agreement on Tesla, which would allow workers to negotiate things like compensation. AdvertisementAfter the IF Metall union walked out last year, several other unions, including labor groups in nearby countries like Denmark, Norway, and Finland, joined in solidarity.

Persons: Elon, Musk, —, Elon Musk's, Jesper Pettersson, Tesla, Pettersson, Danish dockworkers Organizations: IF Metall, Service, Reuters, Tesla, Danish, Business Locations: Scandinavia, Swedish, Sweden, Denmark, Norway, Finland

☆ Take a closer look at the main regions of Neom, Saudi's epic megacity project
▼ + stars: | 2024-04-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Saudi Arabia is plowing on with its ambitious Neom project, despite reported setbacks. Here's a closer look at the main regions that officials plan to build as part of the project. AdvertisementSaudi Arabia's futuristic Neom project is one of the most ambitious in the world. According to Neom, the city will have no roads, cars, or emissions and run on 100% renewable energy. SindalahThe island of Sindalah, a yachting resort and part of the Neom project, will be open in 2024, say planners.

Persons: Here's, —, Neom, Denis Hickey, " Hickey, Saudi Arabia's Crown Prince Mohammed bin Salman, NEOM Organizations: Service, Street Journal, Bloomberg, Saudi Arabia's Crown Locations: Saudi Arabia, Saudi, Tabuk, Kingdom, Neom, Sindalah, Aqaba, Tabak Province

☆ OpenAI and Meta are on the verge of releasing AI models capable of reasoning like humans, report says
▼ + stars: | 2024-04-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

OpenAI and Meta are close to unveiling AI models that can reason and plan, the FT reported. AdvertisementOpenAI and Meta are reportedly preparing to release more advanced AI models that would be able to help problem-solve and take on more complex tasks. Representatives for Meta and OpenAI did not immediately respond to a request for comment from Business Insider, made outside normal working hours. Getting AI models to reason and plan is an important step toward achieving artificial general intelligence (AGI), which both Meta and OpenAI have claimed to be aiming for. Elon Musk, a longtime AI skeptic, recently estimated that AI would outsmart humans within two years.

Persons: —, Brad Lightcap, Joelle Pineau, OpenAI, John Carmack, Bengio, Geoffrey Hinton, Elon Musk, Musk Organizations: Meta, Service, Financial Times, Business

☆ The reality of spending $500 billion to build a city in the desert is starting to hit home for Saudi officials
▼ + stars: | 2024-04-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Amid alarm about costs, the kingdom's sovereign wealth fund has yet to approve Neom's 2024 budget. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSaudi Arabia's plan for its $500 billion futuristic city, Neom, is as ambitious as it gets. It seems the project's finances may prove to be a sticking point, however, since the kingdom's sovereign wealth fund has yet to approve Neom's budget for 2024, Bloomberg reported. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Bloomberg, Service, Business Locations: Saudi, Neom, Gulf Kingdom

☆ Meta's AI image generator can't seem to grasp the idea that interracial couples exist
▼ + stars: | 2024-04-05 | by ( Beatrice Nolan | Jordan Hart | ) www.businessinsider.com time to read: +1 min

Meta's AI image-generation tool is struggling to create images of interracial couples. Meta launched the standalone image tool, Imagine with Meta, late last year. The tool failed to correctly generate a Black man with a white wife when prompted by Business Insider. The same happened when BI asked it to produce an image of an Asian man with a white wife — only pictures of Asian couples were shown. However, the generator was able to successfully depict an interracial couple with a Black woman and a white husband.

Persons: Meta, — Organizations: Meta, Service, Business, BI

☆ Some Tesla engineers are reportedly jumping ship to Elon Musk's AI startup
▼ + stars: | 2024-04-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Tesla engineers are jumping ship to Elon Musk's AI startup, The Information reported. The report follows Musk's drive to gain more control over Tesla's AI strategy. Musk accused OpenAI of "aggressively recruiting Tesla engineers with massive compensation offers." He added he had been raising salaries for those on Tesla's AI engineering team in response. At the time, Dan Ives of Wedbush Securities said Musk's comments sparked a "firestorm."

Persons: —, Elon Musk's xAI, Ethan Knight, Knight, Musk, gunning, Dan Ives, Ross Gerber Organizations: Elon, xAI, Service, Tesla, Business, Big Tech, Wedbush Securities Locations: xAI

☆ Jon Stewart takes aim at Sam, Satya and Sundar for 'false promises' on AI and jobs
▼ + stars: | 2024-04-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Jon Stewart is taking aim at tech bros over their "false promises" about AI and work. "The Daily Show" host blasted AI as labor-replacing, calling it a threat to jobs. Stewart also mocked the suggestion AI was creating new jobs like prompt engineers. AdvertisementJon Stewart is taking aim at tech bros over their "false promises" about AI and work. "The Daily Show" host mocked some of Silicon Valley's most influential AI leaders on Monday's episode, sharing clips of OpenAI's Sam Altman, Microsoft's Satya Nadella, and Google CEO Sundar Pichai among others.

Persons: Jon Stewart, Stewart, —, OpenAI's Sam Altman, Microsoft's Satya Nadella, Sundar Pichai, he'd, Lina Khan, Apple Organizations: bros, Service, Apple, Federal Trade, CBS, Business

☆ Jon Stewart says Apple asked him not to let FTC chair Lina Khan appear on his Apple podcast
▼ + stars: | 2024-04-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Jon Stewart says Apple once asked him not to have FTC Chair Lina Khan on an Apple podcast. He said he wanted to talk to Khan about AI on a podcast linked to "The Problem with Jon Stewart." AdvertisementJon Stewart says Apple once asked him not to have Federal Trade Commission Chair Lina Khan appear on a podcast linked to his Apple TV+ show. Stewart told Khan he had previously tried to have her appear on the podcast linked to "The Problem with Jon Stewart" to discuss AI, but Apple essentially blocked the move. FTC chair Lina Khan.

Persons: Jon Stewart, Apple, Lina Khan, —, Stewart, Khan, Graeme Jennings Organizations: Apple, Department of Justice, Service, Federal Trade, Amazon, CBS, DoJ, Business

☆ Wall Street is getting nervous about Tesla
▼ + stars: | 2024-04-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why Wall Street is getting nervous about Tesla . South China Morning PostEarnings season is approaching, and Wall Street's already ringing the alarm on a high-profile company. AdvertisementTesla won't report its full earnings until later this month, but Wall Street is preparing for trouble. One analyst called it a "nightmare" quarter for the company, while another firm labeled Tesla "a growth company with no growth." One strategy is getting more Tesla drivers subscribed to its Full Self-Driving software, which can run $199 monthly.

Persons: —, Wall, Insider's Beatrice Nolan, Tesla, It's, that's, Elon Musk, ANDERSEN, Alyssa Powell, Donald Trump's, Ken Griffin's, Claire Merchlinsky, MoviePass, Ted Farnsworth, Manoj Bhargava, Putin, Elvira Nabiullina's, Forbes, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Tesla, China, Bloomberg, Nvidia, Meta, Microsoft, Apple, Getty, BI Trump Media, SEC, Citadel, BI, Street Journal, Authentic Brands, Energy, Bank of Russia, The Locations: China, Russia's, Connecticut , Delaware , New York, Rhode Island, Wisconsin, New York, London

☆ I spent a day as a 'Truthsayer' on Truth Social — it was a bizarre mix of conspiracy theories and Biden-hate
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Read previewThe company behind Donald Trump's alt-right social media platform, Truth Social, made its stock market debut last week. Its parent company, Trump Media & Technology Group, merged with Digital World Acquisition Corp. and began trading under the ticker DJT on Tuesday. I decided to take a day-long visit its core platform, Truth Social, to see what goes on. Most of the content on Truth Social is highly political, and my feed was littered with fellow "Truthsayers" spouting conspiracy theories. AdvertisementUnless you have a burning desire to fill your days with overly political content, Truth Social might not be the social media platform for you.

Persons: —, Donald Trump's, Trump, MAGA, Elon Musk's, Joe Biden, Biden, it's Organizations: Service, Trump Media & Technology Group, Business, NBC, Washington Examiner, CBS News Locations: America

☆ Wall Street is worried about Tesla's Q1 deliveries as analysts slash estimates
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Wall Street is worried about Tesla's Q1 deliveries. Wedbush Securities analysts have called it "a nightmare quarter for Tesla." AdvertisementWall Street is getting nervous about Tesla's Q1 deliveries. Analysts' consensus puts the number of deliveries at 477,000 for Q1, according to UBS, which itself has cut its estimate to 432,000. Wedbush analysts called the company's Q1 deliveries "a nightmare quarter for Tesla."

Persons: —, Morgan Stanley, Deutsche Bank's Emmanuel Rosner, Tesla, Daniel Ives, Elon Musk Organizations: Wedbush Securities, Tesla, Service, Deutsche Bank, EV maker's, UBS, Bloomberg, Deutsche, Wall, CNBC, Business Locations: Berlin, China

☆ Police caught up with a stolen Tesla after it ran out of battery during a car chase
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Police caught up with a stolen Tesla after it ran out of battery during a chase, Fox 11 Los Angeles reported. The car belonged to Fox 11 anchor Susan Hirasuna and was stolen from downtown Los Angeles. Hirasuna's Tesla app estimated the car's battery was down to 15 miles of range when it was taken. AdvertisementPolice caught up with a stolen Tesla after it ran out of battery during a car chase, Fox 11 Los Angeles reported. The stolen car was fortunately low on charge when it was taken, with Hirasuna's Tesla app estimating that the EV's battery was down to just 15 miles of range, the report said.

Persons: Tesla, Susan Hirasuna, —, Hirasuna, wouldn't Organizations: Fox, Service, Police, United Theater, Los Angeles Police Department, LAPD, Business, Tesla, Fremont Police Department Locations: Angeles, Los Angeles, East Hollywood, California

☆ Smartphone maker Xiaomi warns of EV delays amid apparent demand, just over a month after Apple abandoned its EV dream
▼ + stars: | 2024-04-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Xiaomi is warning EV customers could face a wait time of four to seven months, Reuters reported. The delays could be a sign of strong demand for the smartphone maker's first-ever EV. Last week, Xiaomi launched the Speed Ultra 7 in a Beijing event. AdvertisementCustomers wishing to purchase one of Chinese smartphone maker Xiaomi's new electric vehicles could be kept waiting for up to seven months, Reuters reported. Last week, Xiaomi launched its first line of EVs, the Speed Ultra 7 (SU7), at a lavish event in Beijing.

Persons: Xiaomi, — Organizations: Reuters, Service, Business Locations: Beijing

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