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☆ Stocks making the biggest moves midday: Micron Technology, Super Micro Computer, Southwest Airlines and more
▼ + stars: | 2024-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Southwest Airlines — The airline jumped 11% after it raised its third-quarter revenue forecast and authorized $2.5 billion in share buybacks. Starbucks — The coffee chain rose nearly 2% after Bernstein upgraded shares to outperform , citing confidence in the company's new CEO . CarMax — The used car retailer jumped nearly 6% after topping sales estimates for the fiscal second quarter. New York Community Bank — Shares of the regional lender jumped nearly 8% after Barclays upgraded the stock to overweight from equal weight. Accenture — The professional services stock rose nearly 5% on better-than-expected fiscal fourth quarter results.

Persons: Bernstein, Jabil, Goldman Sachs, Goldman, Morgan Stanley, Erik Woodring, —, Jesse Pound, Yun Li, Alex Harring, Pia Singh, Hakyung Kim Organizations: Micron Technology, Applied Materials, ASML, Lam Research, Wall Street Journal, Justice Department, Southwest Airlines —, Elliott Investment Management, Starbucks, NRG Energy, GE Healthcare —, UBS, Jefferies, New York Community Bank, Barclays, Bilibili, Accenture Locations: China, Bilibili —

☆ I've built a career in ethical hacking. Online scams are getting much, much worse — and AI isn't helping.
▼ + stars: | 2024-09-26 | by ( Emma Magnus | ) www.businessinsider.com time to read: +6 min

I liked the idea of doing the same thing, but without the criminal intent: finding those problems and fixing them. This flashy example was made for entertainment, but it still showcased how real criminals use fake profiles, phishing websites, and malware to compromise a person or company. New scams are being developed every dayI see multiple new scams or cyber security problems every day. It's creating better-looking scams, while deepfakes, voice clones, and video filters make it easier to fool people into believing things on the internet. AdvertisementWe're seeing romance scams where scammers are using deepfake video filter tools to pretend to be celebrities, for instance.

Persons: —, Laura Kankaala, I've, cybercriminals Organizations: Service, Business, LinkedIn Locations: Finnish, Finland

☆ Breaking down Micron's giant rally. Why JPMorgan thinks shares can jump nearly 90%
▼ + stars: | 2024-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The good times should continue to roll for shares of Micron Technology , according to Wall Street analysts. The move put the company on pace for its best day since 2011 and put shares up more than 31% year to date. MU YTD mountain Shares performance this year The analyst reiterated his overweight rating and $180 price target, reflecting 88% upside from Wednesday's close. Goldman Sachs' Toshiya Hari reiterated his buy rating and adjusted his price target to $145 from $158, still pointing to a 51% gain. The analyst has a price target of $146 on Micron, signaling a 46% increase.

Persons: Harlan, Goldman Sachs, Toshiya Hari, Mark Li, Tim O'Malley, O'Malley Organizations: Micron Technology, Wall Street, Wall, MU, Micron, Barclays Locations: Harlan Sur

☆ 3 market experts share the 8 companies that will profit the most from AI's insatiable energy appetite
▼ + stars: | 2024-09-26 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Moody's estimates that between 2023 and 2028, the electricity usage in data centers will grow 43% yearly. That's not including the energy-intensive process of constructing even more data centers, which Big Tech is scrambling to do. Business Insider spoke with three market experts to get their thoughts on what companies are best positioned to succeed as AI's appetite for energy strains existing infrastructure. Baker is betting on the utilities and cooling solutions providers that service the energy needs of data centers. New infrastructure needs to be built out, and the existing infrastructure needs to be bolstered, according to Wilhelmus.

Persons: —, Mark Zuckerberg, Jennifer Foster, Foster, Graeme Baker, Baker, Schneider, Jakob Wilhelmus, Wilhelmus, Eaton Organizations: Service, Business, Big Tech, Chilton Investment Company, Broadcom, Marvell Technology, IBM, Schneider, Trane Technologies Locations: Virginia, Freeport, McMoRan

☆ Newsmax faces ‘bet-your-company’ defamation trial over 2020 election lies
▼ + stars: | 2024-09-26 | by ( Marshall Cohen | ) edition.cnn.com time to read: +8 min

Washington CNN —Jury selection is set to begin Thursday in a closely watched defamation trial pitting voting technology company Smartmatic against the right-wing cable network Newsmax, in a high-stakes case over the airing of false 2020 election claims. The Newsmax case revolves around the same false claims, championed by former President Donald Trump and his Republican allies, that the 2020 election was rigged by Smartmatic software and others. The Florida-based company sued Newsmax and other right-wing outlets and figures in 2021, alleging that its reputation was destroyed by the lies. The Newsmax case will test the legal limits of publishing lies about the 2020 election, and the trial will play out during the final stretch of the 2024 campaign. ‘Dozens’ of defamatory reportsAfter mainstream news outlets – and even Fox News – projected that Democratic nominee Joe Biden would win the 2020 election, Trump and his surrogates falsely claimed that he won.

Persons: Donald Trump, Newsmax, “, ”, ” Howard Cooper, Eric Davis, Davis, it’s, Katie Townsend, Smartmatic, Joe Biden, Trump, Chris Ruddy, Biden, wasn’t, Sidney Powell, ” Sidney Powell, Rudy Giuliani, Sarah Silbiger, Greg Kelly, Powell, Chris Salcedo, Smartmatic “, John Bachman, Smartmatic’s, Bachman, Liz Harrington, Ruddy, Kelly, Salcedo, Eric Robinson, ” Newsmax, Bill Daddi, ” Smartmatic’s, Erik Connolly, “ …, Bob Sellers, Emerald Robinson Organizations: Washington CNN, Delaware Superior Court, Fox News, Voting Systems, Republican, Trump, Freedom, Press, Fox, Democratic, The Washington Post, Republican National Committee, ”, Newsmax, University of South, Electoral College ” Locations: Delaware Superior, The Florida, Wilmington , Delaware, New York, Los Angeles County, University of South Carolina, Philippines, Venezuela

Analyst Jared Shaw raised his rating on the regional bank to overweight from equal weight and upped his price target by $4 to $14. Analyst Rob Dickerson downgraded the chocolate maker to underperform from hold and slashed his price target by $21 to $163. Analyst Lincoln Kong upgraded U.S.-listed shares to buy from neutral and raised his price target to $22.60 from $16.50. — Alex Harring 5:51 a.m.: BofA hikes Meta price target following Connect event Bank of America sees more room for Meta Platforms to run due to its artificial intelligence possibilities. Starbucks shares are flat year to date, but they have popped more than 20% over the past three months.

Persons: Bernstein, Jared Shaw, NYCB, Shaw, — Alex Harring, Sell Hershey, Jefferies, Rob Dickerson, Dickerson, flatlining, Hershey, Alex Harring, BofA, Ralph Lauren, Christopher Nardone, Justin Picicci, Corey Van der, Nardone, Picicci, Goldman, Bilibili Goldman Sachs, Lincoln, Kong, Bilibili, Justin Post, Post, Metaverse, Meta, Brian Niccol, Danilo Gargiulo, Gargiulo, Niccol, — Fred Imbert Organizations: CNBC, . Bank of America, Barclays, Bancorp New, Bancorp New York Community, Wall, Hershey, America's, Lincoln Kong, Bank of America, Facebook, Meta, Orion, Taco Bell Locations: Bancorp New York, Wednesday's, Thursday's premarket, Bilibili, U.S

☆ Stocks making the biggest moves premarket: Micron Technology, Starbucks, CarMax and more
▼ + stars: | 2024-09-26 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Starbucks — The coffee chain rose more than 2% after Bernstein upgraded the stock to outperform from market perform. New York Community Bancorp — Shares of the regional lender gained more than 4% after Barclays upgraded shares to overweight as it repositions itself following a rocky patch. Micron Technology , chip stocks — Micron shares surged nearly 17% after offering a stronger-than-expected revenue forecast for the fiscal first quarter. Nvidia rose 2%, while U.S.-traded shares of ASML Holding added nearly 5%. Southwest Airlines — The travel stock rose about 5% after Southwest hiked its third-quarter revenue forecast.

Persons: Bernstein, Brian Niccol, Graham Doyle, Bilibili, Goldman Sachs, Jefferies, Elliott, Sonos, Morgan Stanley, Erik Woodring, —, Alex Harring, Samantha Subin, Jesse Pound, Sarah Min Organizations: New York Community Bancorp, Barclays, Micron Technology, Micron, Nvidia, ASML, Bank of America, NRG Energy, GE Healthcare Technologies, UBS, Jefferies, Southwest Airlines, Southwest, Elliott Management Locations: U.S, China, Bilibili —, dealmaking

☆ Surging AI demand could cause the world's next chip shortage, research says
▼ + stars: | 2024-09-25 | by ( Arjun Kharpal | Arjun Kharpal Is A Senior Correspondent For Cnbc In London. | ) www.nbcnews.com time to read: +3 min

The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home. These GPUs which are housed in data centers are critical for the training of huge AI models which underpin applications like OpenAI’s ChatGPT. Bain said demand for GPUs and AI consumer electronics could be the cause of a chip shortage. The semiconductor supply chain is spread across multiple companies. “Geopolitical tensions, trade restrictions, and multinational tech companies’ decoupling of their supply chains from China continue to pose serious risks to semiconductor supply.

Persons: Bain, Anne Hoecker, TSMC, ” Bain Organizations: Bain & Co, Technology, Nvidia, Qualcomm, Samsung, Microsoft, Bain, CNBC, Taiwan Semiconductor Manufacturing Co, Samsung Electronics, Washington Locations: Americas, Taiwan, Netherlands, U.S, China

Li-Chen Miller, the vice president of product in charge of Ray-Ban Meta glasses, told CNBC that when she travels, she uses the glasses to take photos of her hotel room door, and later, she asks Meta AI to recall the number. AI that speaksZuckerberg also introduced improvements to its Meta AI chatbot that will allow people to interact with it using their voice instead of written text. Users will now be able to have natural voice conversations with Meta AI, which is accessed through Meta apps like Messenger and Instagram. Users will be able to perform actions using their voice, such as telling Meta AI to take a photo by talking to their smartphone. The new Siri-like Meta AI voice feature will be available over the next month for U.S., Canadian, Australian and New Zealand users of WhatsApp, Instagram, Facebook and Messenger.

Persons: Meta, “ I’ve, ” Zuckerberg, Mark Zuckerberg, Apple hasn’t, Zuckerberg, won’t, EssilorLuxottica, Ban, Ray, Chen Miller, Judi Dench, John Cena, Keegan, Michael Key, Kristen Bell, Siri, OpenAI, ChatGPT Organizations: Labs, Meta, Apple, VR, Amazon Music, Amazon, Quest Pro, Orion, Facebook, CNBC, IDC Locations: Menlo Park , California, Oculus, New Zealand

WASHINGTON — The House on Wednesday is poised to pass a funding bill to avert a government shutdown next week after it removed a proposal demanded by Donald Trump that would require Americans nationwide to show proof of citizenship to register to vote. House Republican leaders, facing defections within their ranks, plan to rely heavily on Democratic votes to approve the measure. He blamed Senate Majority Leader Chuck Schumer, D-N.Y., for failing to take up the SAVE Act as a stand-alone measure in the Senate. “We passed the SAVE Act in the summer, and it’s been sitting on Chuck Schumer’s desk collecting dust; that is maddening to us,” Johnson said. “As both parties work to avoid a shutdown, we encourage House Republican leadership to get this bill to the floor and pass it quickly.

Persons: WASHINGTON, Donald Trump, Mike Johnson, Trump, it’s, Johnson, ” Johnson, he’s, “ I’m, Chuck Schumer, “, Chuck Schumer’s, ”, Sen, John Boozman, Dan Bishop, Scott Perry, ” Perry, “ You’re, ” Schumer Organizations: Republican, Democratic, Senate, Secret, Trump, Republicans, SAVE, GOP, “, Democrats

☆ Nigerian company Autogirl wants to be the Airbnb of car rentals
▼ + stars: | 2024-09-25 | by ( Victoria Barauna | ) edition.cnn.com time to read: +6 min

In 2023, it announced it would be expanding to Kenya, with a rollout of 1.2 million electric vehicles. Around the world, transport startups are embracing electric vehicles, and those in Africa are no different. In 2023, it announced it would be expanding to Kenya, with a rollout of 1.2 million electric vehicles. Uncover , a Kenyan skincare brand, says it wants to fill this gap by providing healthy cosmetics that put African women first. ‘‘We want to be the Airbnb of vehicle rentals in Africa and ultimately the world,” Arinze says.

Persons: Chinazom Arinze, ” Arinze, “, Spiro, Clement Di Roma, Simon Maina, Prince William’s, James Oatway, there's, Edwin Maina, Arinze, …, Autogirl, hasn’t, she’s, ’, ‘, Airbnb, ” Organizations: CNN, Babcock University, Getty, Reeddi Technologies, The Royal Academy of Engineering, Kenyan, Hertz, Hyundai, Lexus Locations: Nigeria, Benin, Kenya, Africa, AFP, China, Cameroon, Rwanda, Ghana

☆ Artificial intelligence is detecting new archaeological sites in the desert
▼ + stars: | 2024-09-25 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

Researchers at Khalifa University in Abu Dhabi have developed a high-tech solution to searching huge, arid areas for potential archaeological sites. Traditionally, archaeologists use ground surveys to detect potential sites of interest, but that can be time-consuming and difficult in harsh terrains like the desert. “Once it was trained, it gave us an indication of other potential areas (nearby) that are still not excavated,” says Francis. Khalifa University isn’t alone in using artificial intelligence to detect potential sites. If archaeologists find the structures the algorithm has predicted, Dubai Culture plans to use the technology to unearth more sites.

Persons: ”, Diana Francis, Francis, Ben Romdhane, Saruq Al, Hadid, Expediting, Amy Hatton, Max Planck, Hatton, isn’t, Amina Jambajanstsan, Hugh Thomas, — Thomas, Thomas, Unearthing, Al Hadid Organizations: CNN, Khalifa University, Dubai Culture, Max, Max Planck Institute, Geoanthropology, Khalifa, University of Sydney Locations: Abu Dhabi, Dubai, Saudi Arabia, Mongolia —, Alaska, Southern Mongolia, Egypt, Africa

☆ Surging AI demand could cause the world's next chip shortage, report says
▼ + stars: | 2024-09-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The last major semiconductor shortage happened during the Covid-19 pandemic amid supply chain disruption and a rise in demand for consumer electronics as people were forced to stay and work at home. These are often referred to as AI-enabled devices and companies from Samsung to Microsoft have released such products. Bain said demand for GPUs and AI consumer electronics could be the cause of a chip shortage. Bain & Company noted that the semiconductor supply chain is "incredibly complex, and a demand increase of about 20% or more has a high likelihood of upsetting the equilibrium and causing a chip shortage." "The AI explosion across the confluence of the large end markets could easily surpass that threshold, creating vulnerable chokepoints throughout the supply chain," the report added.

Persons: Bain, Anne Hoecker Organizations: Bain & Company, Technology, Nvidia, Qualcomm, Samsung, Microsoft, CNBC Locations: Americas

☆ UBS sees AI trade still in the 'early innings' and these stocks as the best way to play it
▼ + stars: | 2024-09-25 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

UBS named "Magnificent Seven" member Apple as an AI stock to watch out for. In all, 75% of analysts covering the stock rate it buy or strong buy, according to LSEG, with consensus price targets suggesting nearly 6% upside. Nearly 9 out of 10 analysts covering the stock rate it a buy or strong buy. Raymond James recently resumed coverage of Uber as a "strong buy," citing its "Robo Rides" thesis. Other names on the list include AI darling Nvidia, alongside fellow Magnificent Seven stocks Microsoft , Alphabet , Amazon and Meta Platforms .

Persons: Sundeep Gantori, Gantori, Needham, Goldman Sachs, Goldman, Michael Ng, Raymond James, Josh Beck, Uber Organizations: UBS, Apple, Uber, Microsoft

☆ Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.
▼ + stars: | 2024-09-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.

Persons: —, Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside

☆ How your tech stock holdings will be impacted by the election
▼ + stars: | 2024-09-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

The outcome of November's presidential election could have major implications for some popular technology stocks. Meanwhile, a victory by Vice President Kamala Harris may lead to tighter AI regulations focused on safety, ethics and protecting consumers. AI chip giant Nvidia is another likely winner in both split scenarios and a Republican sweep. Heightened antitrust controls over Google and its local search monopoly in a Democrat sweep and split Harris government should also benefit shares of Yelp down 27% this year. Republican sweep Raymond James views Salesforce as a potential big winner in a Republican sweep, noting that "more favorable" corporate tax rates should benefit cyclical software names.

Persons: Raymond James, Donald Trump, Trump, Ed Mills, Kamala Harris, Mills, Harris, Melissa Fairbanks, John Davis, Andrew Marok, bode, Salesforce, Davis, Datadog, Adam Tindle, Josh Beck Organizations: Democrat, Veeva Systems, Flex, Visa, Democratic, Republican, Trump, Republican Senate, Microsoft, Nvidia, Verizon, U.S, Google, Apple, Texas, Intel, Qualcomm, Apollo Global Management, Arista Networks Locations: China, Washington, outperformance, Saudi Arabia, Yelp

☆ An F-35 was caught on camera for the first time carrying the stealthy long-range anti-ship missiles it could need in a fight with China
▼ + stars: | 2024-09-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewThe US military has published photos for the first time that show a fifth-generation F-35 fighter armed with a stealthy long-range anti-ship missile. The photo, released on Monday, shows an F-35C Lightning II carrying two AGM-158C Long-Range Anti-Ship Missiles (LRASMs) during a flight test conducted earlier this month. Efforts to integrate the missile with the carrier-based variant of the advanced F-35 stealth fighter underscore the military's push to expand its anti-ship capabilities across new platforms. The military has acknowledged an increasing need for these capabilities, particularly as rivals like China strengthen their navies. The F-35 doesn't have a dedicated anti-ship missile, making the LRASM a valuable addition.

Persons: —, Lockheed Martin Organizations: Service, Ship, Naval Air, Business, US Air Force, US Navy, Air Force, Navy, Hornets, Force, ITF, Pax ITF, Lockheed, Warfare Locations: Maryland, China, Washington, Beijing

☆ Investors are underweight Nvidia compared to the S&P 500, and it's costing them
▼ + stars: | 2024-09-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Institutional portfolios will continue to underperform due to a lack of adequate exposure to Nvidia and other winning technology names, UBS warned. Strategist Patrick Palfrey told clients that large-cap managers have 4.4% exposure to Nvidia, despite the artificial intelligence darling accounting for 6.6% of the S & P 500 . That is the biggest underweight position ever in Nvidia, according to Palfrey. As a result, "a continued TECH+ underweight is likely to remain a headwind for many portfolios," Palfrey wrote to clients. The latest evidence came Tuesday as the S & P 500 hit a record high , boosted by a 4% rally in Nvidia as CEO Huang finished selling shares for the time being under a preset trading plan.

Persons: Patrick Palfrey, Jensen, Palfrey, bode, Huang Organizations: Nvidia, UBS, Microsoft, Apple, Google

☆ Many 988 callers will now get help based on where they are, not their phone’s area code
▼ + stars: | 2024-09-25 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +4 min

Before this change, 988 callers were routed to a call center based on their area code rather than physical location. Next month, the Federal Communications Commission will vote on a rule that would require all wireless carriers in the US to implement georouting for 988 calls. “In times of crisis, every minute matters – especially when seeking help for yourself or a loved one in need of mental health support. The line operates 24 hours a day, seven days a week, and comprises over 200 local crisis centers across the country. “No more 988 calls and messages will be needlessly sent to crisis centers hundreds of miles away,” Rosenworcel said.

Persons: “, ” Miriam E, Jessica Rosenworcel, SAMHSA, Dr, Sanjay Gupta, Rosenworcel, ” Rosenworcel, “ I’m, ” CNN’s Jacqueline Howard, Mira Cheng Organizations: CNN, US Department of Health, Human Services, Federal, Mental Health Services Administration, Verizon, Mobile, Federal Communications Commission, Lifeline, Prevention, CNN Health, National Alliance, Mental, FCC, HHS Locations: Los Angeles, New York

☆ DNA from 3,600-year-old cheese sequenced by scientists
▼ + stars: | 2024-09-25 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

A decade after the dairy discovery on strikingly intact remains mummified by the Taklamakan Desert’s arid conditions, scientists have extracted and sequenced DNA from the 3,600-year-old cheese, the oldest in the archaeological record. Fu is director of the ancient DNA laboratory at the Institute of Vertebrate Paleontology and Paleoanthropology in Beijing. The researchers recovered animal and microbe DNA from the kefir cheese discovered on the Tarim Basin mummies. Fu and her colleagues also sequenced the bacterial genes in the ancient kefir cheese, revealing insights into how probiotic bacteria evolved over the past 3,600 years. “Ancient DNA analysis, especially on microbes, is fraught with technical problems, mostly stemming from contamination by modern bacteria,” he added.

Persons: ”, Christina Warinner, John L, Loeb, Warinner wasn’t, Qiaomei Fu, Fu, Yang, it’s, Taylor Hermes, ” Hermes, Pichia kudriavzevii, kefir, we’ve, ” Fu, Hermes, Warinner, William Taylor, Taylor, wasn’t Organizations: CNN, Cell, Social Sciences, Harvard University, Vertebrate Paleontology, University of Arkansas, University of Colorado, school’s Locations: what’s, China, ”, Beijing, Tarim, China’s Xinjiang, Asia, Russia, Tibet, United States, Japan, Caucasus, Anatolia, University of Colorado Boulder

In addition to the Quest 3S, Meta on Wednesday also showcased its latest prototype of augmented-reality smart glasses and announced a flurry of new features for its Meta AI chatbot. What it doesMetaA Meta representative said the "S" in Quest 3S stands for "start" — as in getting started with VR. Orion is Meta's first "fully-functioning" prototype AR glasses, Zuckerberg said, and the device is tethered wirelessly to a small "puck." The Orion glasses are an improvement on Project Nazare, prototype smart glasses that Zuckerberg announced in 2021, when the company changed its name from Facebook. As part of Wednesday's event, Meta announced new Meta AI features for its Ray-Ban smart glasses.

Persons: Mark Zuckerberg, David Paul Morris, Meta, Apple hasn't, Zuckerberg, Meta's, Cristiano Amon, Nurphoto, EssilorLuxottica, Ban, Ray, Chen Miller, Judi Dench, John Cena, Keegan, Michael Key, Kristen Bell, Siri, OpenAI, ChatGPT Organizations: Meta, Inc, Chase Center, Bloomberg, Getty, Labs, Apple, VR, Amazon Music, Amazon, Quest Pro, Orion, Facebook, Qualcomm, Samsung, Google, Nurphoto, CNBC, IDC, Wednesday Locations: San Francisco , California, Menlo Park , California, Oculus, New Zealand

☆ UAE eyes ‘different architecture’ for a Middle East embroiled in conflict as it strengthens ties with the US
▼ + stars: | 2024-09-25 | by ( Mostafa Salem | ) edition.cnn.com time to read: +5 min

The UAE president’s visit to the US “was mostly and almost exclusively about the future,” Gargash said. One of the US’ closest allies in the Middle East and a major recipient of US arms, it hosts 5,000 US military personnel. Wary of being deprived of US technology, the UAE has since abandoned closer cooperation with China in the field of AI and semiconductors in favor of the US. Earlier this year, Abu Dhabi’s state-backed technology firm G42 announced it had agreed not to engage with Chinese companies for advanced technology. He said the two pillars of the UAE’s policy are stability and prosperity.

Persons: Biden, Kamala Harris, Jake Sullivan, Sheikh Mohammed bin Zayed, –, ” Biden, ” Sheikh Mohammed, ” Anwar Gargash, CNN’s Becky Anderson, ” Gargash, Abu, Donald Trump, Abu Dhabi’s, ”, Sheikh Mohamed, Gargash, Abu Dhabi Organizations: Abu Dhabi CNN, United, White, National, USA, UAE, Abu Dhabi, US Air Force, CNN, Biden, Huawei Technologies, Financial Times, NVIDIA, Blackrock, Microsoft, MGX Locations: Abu Dhabi, United Arab Emirates, Gaza, Lebanon, UAE, trailblazers, United States, Israel, China, Washington, Abu

☆ Mira Murati, OpenAI’s technology chief, becomes the latest exec to leave the company
▼ + stars: | 2024-09-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —OpenAI Chief Technology Officer Mira Murati — who has been instrumental in the development of ChatGPT and the artificial intelligence image generator Dall-E — said Wednesday she is leaving the company. “My six-and-a-half years with the OpenAI team have been an extraordinary privilege,” Murati said in a note to the OpenAI team, which she posted to X. Fellow OpenAI co-founder John Schulman exited in August to join rival Anthropic. Murati joined OpenAI’s leadership team in 2018 after working at augmented reality company Ultraleap (then called Leap Motion) and Tesla. During the debacle, Murati joined more than 500 fellow OpenAI employees in threatening to quit if Altman was not brought back to the company.

Persons: Mira Murati —, —, “, ” Murati, “ There’s, shakeup, OpenAI, Ilya Sutskever, John Schulman, Greg Brockman, Murati, Sam Altman, Altman, Mira, ”, ” Altman Organizations: New, New York CNN, OpenAI, Bloomberg, OpenAI’s, Tesla, o1 Locations: New York, Silicon Valley

☆ I had $1 million in the bank at 36. When I turned 40, I vowed to pursue my passions instead of running a billion-dollar company.
▼ + stars: | 2024-09-25 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. After graduation I was hired by McKinsey & Company, a management consulting firm, where I was a business analyst. I traveled the globe as an exec, but returned home for the Renaissance fair every yearI first went to a Renaissance faire on a middle school field trip. Courtesy of George ApplingFrom 2015 to 2018 I had a foot in both worlds: running the faire while also launching a tech company. But the most important thing to me is the joy that the faire and its summer camp bring to people.

Persons: —, George Appling, I'd, Sherwood, I've Organizations: Service, Texas, Business, McKinsey & Company, Harvard, Texas Renaissance, Mobile World Locations: Texas, Australia, England, Russia, Sherwood, Austin, Barcelona

☆ Micron shares surge after upbeat first-quarter forecast due to AI demand for memory chips
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Micron Technology shares surged roughly 14% in after-hours trading after the memory maker forecast higher-than-expected first-quarter revenue due to the thirst for its memory chips used in artificial intelligence computing. HBM is a space-saving, power-efficient type of dynamic random access memory chip, or DRAM, crucial for AI-focused graphics processing units, that aid in processing vast amounts of data. "Demand from data center customers continues to be strong and customer inventory levels are healthy," Micron CEO Sanjay Mehrotra said on a conference call with analysts. The AI boom has also helped Micron cushion the hit from a memory chip inventory glut in PC and smartphone markets. Personal computers infused with AI technologies are expected to have more memory chips, helping firms such as Micron.

Persons: Sanjay Mehrotra, Wall, Kinngai Chan, Sumit Sadana Organizations: Micron Technology, Micron, South Korea's SK Hynix, Samsung, Nvidia Locations: U.S

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