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Read previewMore people seem to be talking about canceling their Amazon Prime memberships. But new data suggests Prime membership growth may have bounced back in the US, after seeing a dip for the first time ever in 2022. The increase follows Prime's first-ever drop in membership growth in 2022, when CIRP said its survey data showed Prime "essentially stopped growing" in the US. "An increase in Prime members today means that more US consumers are finding Prime and therefore Amazon shopping is worth the investment in membership." Earlier this week, Amazon started showing ads on its Prime video streaming service for the first time.
Persons: , CIRP, Bradley Mattinger, Amazon's, Mattinger, Doug Herrington Organizations: Service, Amazon, Wall Street, Business, Consumer Intelligence Research Partners
Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is spending billions of dollars on Nvidia's popular computer chips, which are at the heart of artificial intelligence research and projects. In December, tech companies like Meta, OpenAI and Microsoft said they would use the new Instinct MI300X AI computer chips from AMD. Meta is currently training Llama 3 and is also making its Fundamental AI Research team (FAIR) and GenAI research team work more closely together, Zuckerberg said. Shortly after Zuckerberg's post, LeCun said in a post on X, that "To accelerate progress, FAIR is now a sister organization of GenAI, the AI product division."
Persons: Mark Zuckerberg, Zuckerberg, Raymond James, Meta, Yann LeCun, LeCun, Jensen Huang, Zuckerberg's, Kif Leswing Organizations: Meta, Nvidia, Zuckerberg, eBay, Microsoft, AMD, AI Research, FAIR, Apple Locations: Menlo Park , California, San Francisco
OpenAI's new board has drawn criticism for only consisting of white men. One name that's been floated to join it is ex-Google researcher and AI ethics expert Timnit Gebru. AdvertisementThe new OpenAI board has drawn criticism for its lack of diversity, as it's currently comprised of three white men. One name that's been floated to join the board is prominent AI researcher Timnit Gebru. The new board will consider candidates to fill an expanded board of nine members, according to The Verge.
Persons: Timnit, Gebru, , Timnit Gebru, Sam Altman's, Larry Summers, Bret Taylor, Adam D'Angelo Organizations: Wired, Service, Google, Intelligence Research
CNBC Daily Open: AI schadenfreude
  + stars: | 2023-11-29 | by ( Clement Tan | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury yields dipped on Tuesday, with the yield on the 10-year note last down nearly 6 basis points at 4.33%. Amazon's AI pushAmazon's AWS cloud unit has announced new chips for customers to build and run artificial intelligence applications on, as well as plans to offer access to Nvidia's latest chips. However, the favorable backdrop for Wall Street may have fueled unsustainable gains for a slate of stocks.
Persons: Munger, Charlie Munger, Warren Buffett's, Munger's, Berkshire Hathaway, Buffett, Bob Iger, Iger Organizations: CNBC, Federal Reserve, Treasury, Dow Jones, Nasdaq, Berkshire Hathaway, Berkshire, Disney, ESPN, Microsoft, Federal, CNBC Pro Locations: Frankfurt, Germany, U.S, California
CNBC Daily Open: AI schadenfreude is real
  + stars: | 2023-11-29 | by ( Clement Tan | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Munger's family said he died peacefully Tuesday morning at a California hospital, according to a press release from Berkshire Hathaway. Bob the builderDisney Chief Executive Officer Bob Iger told employees Tuesday during an internal town hall that he was looking forward to "building again" after spending 2023 mending parts of the business that "needed attention." [PRO] Defense winnersMany countries have beefed up their defense budgets as geopolitical threats mount in the Asia-Pacific region and elsewhere in the world.
Persons: China's CSI300, Korea's KOSPI, Munger, Charlie Munger, Warren Buffett's, Munger's, Berkshire Hathaway, Buffett, Bob, Bob Iger, Iger, Goldman, Apple, Goldman Sachs, CNBC's Leslie Picker, AllianceBernstein Organizations: CNBC, Hong, Nikkei, Federal Reserve, Berkshire Hathaway, Berkshire, Disney, ESPN, Apple Locations: Frankfurt, Germany, Hong Kong, Asia, Pacific, California
Most employees at OpenAI have demanded that former CEO Sam Altman be reinstated after the company’s board fired him on Friday. Microsoft said late Sunday that it hired Altman to lead a new advanced artificial-intelligence research team. Photo: Justin Sullivan/Getty ImagesLast Friday, Ilya Sutskever sent a text message to his boss and fellow board member, Sam Altman . On the call was the rest of OpenAI’s board, but it was Sutskever, the company’s chief scientist and co-founder, who delivered the news. Altman was fired, “and the news was going out very soon.”
Persons: Sam Altman, Altman, Justin Sullivan, Ilya Sutskever, Organizations: OpenAI, Microsoft
Most employees at OpenAI have demanded that former CEO Sam Altman be reinstated after the company’s board fired him on Friday. Microsoft said late Sunday that it hired Altman to lead a new advanced artificial-intelligence research team. Photo: Justin Sullivan/Getty ImagesTop investors and senior OpenAI leaders were still pushing to reinstate Sam Altman to his CEO role at OpenAI as the future of the artificial-intelligence company remained in jeopardy. The talks continued as much of OpenAI’s staff threatened Monday to quit if the board didn’t restore Altman to power, according to people familiar with the matter. Meanwhile, OpenAI’s rivals were making public overtures to any disgruntled employees at the startup company behind the viral chatbot ChatGPT.
Persons: Sam Altman, Altman, Justin Sullivan Organizations: OpenAI, Microsoft Locations: OpenAI
Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday. Altman, left, appears onstage with Microsoft CEO Satya Nadella at OpenAI’s first developer conference, on Nov. 6 in San Francisco. Photo: Barbara Ortutay/Associated PressSome chief information officers are questioning the viability of ChatGPT maker OpenAI following the unexpected ouster of chief executive Sam Altman on Friday, his subsequent hire by Microsoft and an unresolved threat by hundreds of OpenAI workers to quit and follow him there. “Long-term viability of any platform is important when making decisions,” said Todd Florence, chief information officer of Estes Express Lines, a Richmond, Va.-based trucker. “Friday certainly calls that into question in regards to OpenAI.”
Persons: Sam Altman, OpenAI, Altman, Satya Nadella, Barbara Ortutay, , , Todd Florence Organizations: Microsoft, OpenAI’s, Associated Press, OpenAI, Estes Express Locations: San Francisco, Richmond, Va
A pedestrian walks by a sign at a LinkedIn office on July 26, 2023 in San Francisco, California. The company has begun making preparations for hundreds of OpenAI employees at its LinkedIn offices in downtown San Francisco, about two miles from OpenAI's headquarters. This week, more than 90% of OpenAI employees signed a letter demanding that the OpenAI board resign or watch staffers leave and join their former boss, Sam Altman, at Microsoft. Early Monday morning, Microsoft CEO Satya Nadella said that Altman, Greg Brockman and their colleagues would join Microsoft as part of a new artificial intelligence research group. However, by Monday evening, it became less evident that Altman and Brockman would actually be joining Microsoft.
Persons: Axios, Sam Altman, Satya Nadella, Altman, Greg Brockman, Brockman Organizations: Microsoft, CNBC Locations: San Francisco , California, San Francisco, OpenAI's, OpenAI
Binance's Zhao says Richard Teng to become next CEO
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: 1 min
Boards category · November 21, 2023Following a surprise ouster, OpenAI co-founder and former CEO Sam Altman joined Microsoft as the head of artificial intelligence research along with the ChatGPT maker's former President Greg Brockman and other staff.
Persons: OpenAI, Sam Altman, Greg Brockman Organizations: Microsoft
OpenAI Employees Threaten to Quit After Sam Altman’s OusterMore than 500 OpenAI employees have demanded that former CEO Sam Altman be reinstated after the company’s board fired him on Friday. Microsoft said late Sunday that it hired Altman to lead a new advanced artificial-intelligence research team. Photo: Justin Sullivan/Getty Images
Persons: Sam Altman’s, Sam Altman, Altman, Justin Sullivan Organizations: Microsoft
Microsoft Hires Sam Altman After OpenAI Ouster
  + stars: | 2023-11-20 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
Microsoft Hires Sam Altman After OpenAI OusterMicrosoft said it is hiring Sam Altman to lead a new advanced artificial-intelligence research team after OpenAI’s board fired him as the company’s CEO on Friday. Emmett Shear, former CEO of Twitch, was named OpenAI's interim chief. Photo: Justin Sullivan/Getty Images
Persons: Sam Altman, Emmett Shear, Justin Sullivan Organizations: Microsoft
Companies Openai LLC FollowMicrosoft Corp FollowNov 20 (Reuters) - Following a surprise ouster, OpenAI co-founder and former CEO Sam Altman joined Microsoft (MSFT.O) as the head of artificial intelligence research along with the ChatGPT maker's former President Greg Brockman and other staff. Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsThe developments come less than a year after OpenAI kicked off the generative AI frenzy with the launch of viral chatbot ChatGPT and bagged Microsoft as an investor, among other big names. The shakeup is not the first at OpenAI, which was launched in 2015. Reporting by Akash Sriram in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: OpenAI, Sam Altman, Greg Brockman, Carlos Barria, Elon Musk, Akash Sriram, Shounak Dasgupta Organizations: Microsoft, Economic Cooperation, REUTERS, Thomson Locations: Asia, San Francisco , California, U.S, Bengaluru
Sam Altman’s bid to return to artificial intelligence company OpenAI faltered on Sunday, as the board that fired him didn’t agree to the proposed terms of his reinstatement. Photo: Patrick T. Fallon/Agence France-Presse/Getty ImagesSAN FRANCISCO—Microsoft said it is hiring Sam Altman to helm a new advanced artificial-intelligence research team, after his bid to return to OpenAI fell apart Sunday with the board that fired him declining to agree to the proposed terms of his reinstatement. Microsoft Chief Executive Satya Nadella posted on X (formerly Twitter) late Sunday that Altman and Greg Brockman , OpenAI’s president and co-founder who resigned Friday in protest over Altman’s ouster, will lead its team alongside unspecified colleagues. Nadella said Microsoft was committed to its partnership with OpenAI and that it would move quickly to provide Altman and Brockman with “the resources needed for their success.”
Persons: Sam Altman’s, OpenAI, Patrick T, Sam Altman, Satya Nadella, Altman, Greg Brockman, Nadella, Brockman, Organizations: Fallon, Agence France, Microsoft, OpenAI
Sam Altman was forced out of his position as the CEO of OpenAI on Friday. The announcement kicked off a weekend of chaos involving Altman, Microsoft, and the firm behind ChatGPT. AdvertisementOn Friday afternoon, the tech world reverberated with news that Sam Altman was being pushed out as the CEO of OpenAI, the artificial intelligence firm behind ChatGPT. Why is it so important that OpenAI and Microsoft figure it all out? To back up: Since 2019, Microsoft and OpenAI, which was founded as a nonprofit dedicated to artificial intelligence research, have worked together.
Persons: Sam Altman, Altman, , Greg Brockman, Brockman, ChatGPT, Satya Nadella, openai, Claude, Bard Organizations: Microsoft, Service, OpenAI, microsoft, Canva, JetBlue Locations: ChatGPT
[1/2] Twitch CEO Emmett Shear speaks in a still image taken from a video interview with Reuters in San Francisco, U.S. which was broadcast in May 2018. Ex-Twitch boss Emmett Shear has been appointed to lead the company behind ChatGPT, replacing Altman following his shock sacking on Friday. Earlier on Monday, OpenAI backer Microsoft (MSFT.O) said Altman will join the company to lead a new advanced artificial intelligence research team. OpenAI Chief Operating Officer Brad Lightcap told staff on Saturday it was over a "breakdown of communications" not "malfeasance". I'm not crazy enough to take this job without board support for commercializing our awesome models," he said.
Persons: Emmett Shear, Sam Altman, Altman, Emmett, Brad Lightcap, I'm, Josephine Mason, Emelia Sithole Organizations: Reuters, REUTERS, Microsoft, Thomson Locations: San Francisco , U.S, U.S, OpenAI
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Microsoft, which owns a roughly 49% stake in OpenAI, is the big winner here, according to Jim Cramer. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, It's, OpenAI, Sam Altman, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Treasury, of, Petroleum, West Texas, Apple, Starbucks, Street Journal, Huawei, Club, Microsoft Locations: U.S, China, OpenAI
A timeline of Sam Altman's firing and dramatic return to OpenAI
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +1 min
Companies Openai LLC FollowMicrosoft Corp FollowNov 21 (Reuters) - OpenAI said late on Tuesday Sam Altman would return to the company as CEO, capping days of high drama and marathon discussions about the future of the startup at the center of the global artificial intelligence boom. [1/2]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Carlos Barria Acquire Licensing RightsFollowing his surprise dismissal on Friday, Altman had briefly joined Microsoft (MSFT.O) as the head of artificial intelligence research along with the ChatGPT maker's former President Greg Brockman and other staff. The developments come less than a year after OpenAI kicked off a generative AI frenzy with the launch of viral chatbot ChatGPT and bagged Microsoft as an investor, among other big names. Reporting by Akash Sriram in Bengaluru; Editing by Shounak Dasgupta and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: OpenAI, Sam Altman, Carlos Barria, Altman, Greg Brockman, Akash Sriram, Shounak Dasgupta, Nivedita Organizations: Microsoft, Economic Cooperation, REUTERS, Thomson Locations: Asia, San Francisco , California, U.S, Bengaluru
Stock Market Today: Stock Futures Edge Up to Start the Week
  + stars: | 2023-11-20 | by ( ) www.wsj.com   time to read: 1 min
Microsoft stock jumped premarket after the software giant said Sam Altman would join to lead a new advanced artificial-intelligence research team. The OpenAI board fired Altman as chief executive last Friday and named a former chief executive of Twitch as interim CEO. The chip maker’s stock rose premarket. U.S. stock futures inched up. Treasury yields inched higher.
Persons: Sam Altman, Altman, Twitch Organizations: Microsoft, Nvidia, greenback, Treasury Locations: Europe, Asia
New Delhi/New York CNN —Microsoft has hired Sam Altman to power up its artificial intelligence research efforts just days after the co-founder of OpenAI was ousted as CEO in a chaotic boardroom coup. Meanwhile, Emmett Shear, the former CEO of Amazon’s streaming service Twitch, will join OpenAI as interim CEO. “We look forward to getting to know Emmett Shear,” Microsoft CEO Satya Nadella said in a post on X, formerly known as Twitter. In a post on X early Monday, Shear described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. More recently, Altman announced that OpenAI would make its tools widely available so anyone could create their own version of ChatGPT.
Persons: Sam Altman, OpenAI, Greg Brockman, Brockmann, Altman, Emmett Shear, Satya Nadella, ” Nadella, Shear, , Brockman, Ilya Sutskever, Kara Swisher, Jony, Bing, Swisher, , OpenAI “, , “ I’m Organizations: New York CNN, Microsoft, OpenAI Locations: New Delhi, New York, Altman’s
Zoom Video Communications — The software stock added nearly 2% ahead of its third-quarter earnings due after market close. The Professional Fighters League announced on Monday that it completed its acquisition of mixed martial arts brand Bellator from Paramount. Penn Entertainment — The gambling stock jumped 7% on the heels of a Bank of America upgrade to buy from neutral. Boeing — The aerospace stock jumped 4% after Deutsche Bank upgraded the shares to a buy rating from hold. Chegg — Shares of the education technology company dropped 5% following a downgrade to underweight from equal weight by Morgan Stanley.
Persons: Wells, Sam Altman, Greg Brockman, Raymond James, Morgan Stanley, Krispy Kreme, Iovance, Goldman Sachs, Terri Kelly, Kelly, Peter Grom, , Alex Harring, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Communications, FactSet, Paramount, Professional Fighters League, Bellator, Penn Entertainment, Bank of America, ESPN Bet, Spectrum Brands, Microsoft —, Microsoft, Nvidia, Boeing, Deutsche Bank, JPMorgan, Caterpillar —, HSBC, United Rentals — United Rentals, Bristol Myers, Energizer Holdings, UBS, RBC Capital Markets Locations: FactSet
Check out the companies making the biggest moves in premarket trading: Boeing — The aerospace stock added 1.5% following an upgrade to buy from hold by Deutsche Bank. PENN Entertainment — The gambling stock popped 4.4% on the back of a Bank of America upgrade to buy from neutral. The Food and Drug Administration won't be able to meet to make a decision by the target date of Dec. 16. Krispy Kreme — Shares of the doughnut chain slipped 1.8% following a downgrade by JPMorgan to neutral from overweight. Vale — U.S.-listed shares of the Brazil-based metal and mining company added 2.6% following an upgrade by Bank of America to buy from neutral.
Persons: Sam Altman, Cantor Fitzgerald, Bristol Myers, Krispy, Krispy Kreme, Goldman Sachs, Iovance, Morgan Stanley, Terri Kelly, Kelly, , Sarah Min, Alex Harring, Michael Bloom Organizations: Boeing, Deutsche Bank, Microsoft, PENN Entertainment, Bank of America, ESPN Bet, Myers, Drug Administration, Bristol, JPMorgan, Bros, Rentals, United Rentals Locations: Bristol, Vale — U.S, Brazil
NEW YORK, Nov 20 (Reuters Breakingviews) - Microsoft (MSFT.O) boss Satya Nadella’s stressful weekend is probably only the beginning. A lack of corporate governance protections left Nadella with few options to salvage his company’s $13 billion investment in OpenAI. As a 49% owner of OpenAI, Microsoft could have hedged itself by getting more directly involved in oversight. Recruiting Altman is at least a better outcome for Microsoft than standing by and watching him go to Google, a rival startup or opening his own AI shop. Money and salesmanship are two essential elements of developing AI, but so are the proper controls, risk management and strategic clarity.
Persons: Satya Nadella’s, OpenAI, Sam Altman, Altman, Reid Hoffman, Elon Musk’s, Satya Nadella, Greg Brockman, OpenAI’s, Brockman, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Microsoft, Google, Altman, Thomson Locations: OpenAI
Microsoft CEO Satya Nadella told CNBC's Jon Fortt on Monday that the governance structure of OpenAI needs to change, three days after the sudden firing CEO Sam Altman. Early Monday morning Nadella said that Altman, Brockman and their colleagues would join Microsoft as part of a new AI research group. That post followed news that ex-Twitch CEO Emmett Shear had been named OpenAI interim head as Altman looked to depart. Nadella told Fortt that Microsoft respects OpenAI's nonprofit roots and shares its belief that AI needs to be developed and rolled out in a safe manner. WATCH: A timeline of the drama between Sam Altman, OpenAI and Microsoft
Persons: Satya Nadella, CNBC's Jon Fortt, Sam Altman, Nadella, Altman, OpenAI, Greg Brockman, Brockman, Emmett Shear, Fortt Organizations: Microsoft, Tiger, Sequoia Capital
Emmett Shear, former CEO of Twitch, in a Bloomberg Television interview in San Francisco, California, U.S., on Wednesday, Sept. 14, 2016. OpenAI is bringing in former Twitch CEO Emmett Shear to run the artificial intelligence company, two days after the sudden ouster of Sam Altman, CNBC has confirmed. Unlike most Silicon Valley startups, OpenAI wasn't structured like a typical corporation with large chunks of equity controlled by the founders. Shear stepped down as CEO of Twitch, the livestreaming service now owned by Amazon , in March. — CNBC's Ari Levy contributed to this reportWATCH: Madrona's Matt McIlwain talks Sam Altman's departure as OpenAI CEO
Persons: Emmett Shear, Twitch, OpenAI, Sam Altman, Shear, Altman, Mira Murati, didn't, Murati, — CNBC's Ari Levy, Matt McIlwain, Sam Altman's Organizations: Bloomberg Television, CNBC, Bloomberg, Microsoft, Tiger, Sequoia Capital, Amazon, OpenAI Locations: San Francisco , California, U.S
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