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☆ It's all unraveling at OpenAI (again)
▼ + stars: | 2024-06-04 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

In a statement to Business Insider, an OpenAI spokesperson reiterated the company's commitment to safety, highlighting an "anonymous integrity hotline" for employees to voice their concerns and the company's safety and security committee. Safety second (or third)A common theme of the complaints is that, at OpenAI, safety isn't first — growth and profits are. (In a responding op-ed, current OpenAI board members Bret Taylor and Larry Summers defended Altman and the company's safety standards.) "I have been disagreeing with OpenAI leadership about the company's core priorities for quite some time, until we finally reached a breaking point." (Altman and OpenAI said he recused himself from these deals.)

Persons: —, Sam Altman, Daniel Kokotajlo, OpenAI, Altman, Helen Toner, Tasha McCauley, Toner, McCauley, Bret Taylor, Larry Summers, Kokotajlo, Jan Leike, Ilya Sutskever, Leike, Stuart Russell, NDAs, Scarlett Johansson, lawyered, Johansson, " Johansson, I've, Sam Altman — Organizations: Service, New York Times, Business, Times, Twitter, Microsoft, The New York Times, BI, Street, OpenAI, OpenAI's, Apple Locations: OpenAI, Russian, Reddit

☆ Opinion | This D-Day, Europe Needs to Resolve to Get Its Act Together
▼ + stars: | 2024-06-04 | by ( Bret Stephens | ) www.nytimes.com time to read: +1 min

Thursday’s D-Day anniversary — the 80th — is occasioning somber and anxious reflections about the fate of the Atlantic alliance. Somber because the last of the Greatest Generation will soon no longer be with us. Anxious because Donald Trump, and his evident disdain for that alliance, may soon be with us again. Europe today faces four great challenges that typically determine the fate of great powers. 28 — the 27 countries currently in the European Union, plus Britain — accounted for 36.3 percent of global gross domestic product.

Persons: Thursday’s, Donald Trump, Vladimir Putin, Xi, Trump, Kennedy Organizations: European Union, Microsoft, Nvidia Locations: Europe, Britain, United States

☆ Re:cap, a German revenue-based financing startup, raised $14.6 million using this 13-slide pitch deck
▼ + stars: | 2024-06-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRe:cap, a German revenue-based financing startup, has raised $14.6 million in Series A funding. Borrowers can use financing on re:cap to borrow up to 5 million euros, or about $5.5 million, over terms of up to five years. This story is available exclusively to Business Insider subscribers. "Overall, the private debt market is growing tremendously, faster than most if not all alternative asset classes, so the opportunity generally is huge," Paul Becker, CEO and cofounder of Re:cap, told Business Insider. According to Atomico, funding for European startups dropped by 45% year-on-year to $45 billion in 2023, but investment in European fintech dropped well below the wider slump.

Persons: —, Paul Becker, Felix, Becker, European fintech Organizations: Service, HSBC Innovation Banking, Business, Felix Capital, Finch Capital, Channel Capital, Avellina Locations: Berlin, European

☆ Databricks acquires data optimization startup Tabular in fresh challenge to Snowflake
▼ + stars: | 2024-06-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Data analytics software maker Databricks said in a statement on Tuesday that it's acquiring Tabular, a startup that helps optimize data stored in the cloud. The gesture could help Databricks more quickly bring out products as it faces competition from Snowflake and other entities. Databricks is paying over $1 billion to buy Tabular, Databricks CEO Ali Ghodsi said in an interview. Snowflake was also bidding on Tabular, as was Confluent , a person familiar with the matter told CNBC. Focusing more on Iceberg tables might allow Databricks to take business from Snowflake clients that embrace the format.

Persons: Ali Ghodsi, Databricks, Snowflake, Ryan Blue, Dan Weeks, Okta, Mike Scarpelli, Morgan Stanley, Ghodsi, Andreessen Horowitz, Frank Slootman's, Jefferies, Brent Thill Organizations: Databricks, Summit, Street Journal, CNBC, Developers, Netflix, Salesforce, Amazon, Services, Monday, Zetta Venture Partners Locations: San Francisco, Snowflake, Delta

☆ UK general election: Why the economy is the key issue
▼ + stars: | 2024-06-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Sunak will likely point to falling inflation and a strengthening economy as proof that his plan to “restore economic stability” is working. Here’s what data shows has happened to wages, living standards, the value of the pound, house prices and waiting times for medical treatment on the NHS. “Poor income growth has been an unfortunate feature of economic life in the UK over the last 15 years. On average, households now spend more than 29% of their after-tax income on rent, up from 24% in 2010, according to Zoopla, a property company. NHS waiting lists have grown steadily since the onset of the Covid-19 pandemic, contributing to worker shortages in the UK.

Persons: Rishi Sunak, Keir Starmer, Tony Blair, Sunak, YouGov, Labour Party Keir Starmer, Jeff J Mitchell, Alastair Grant, Tom Waters, “, —, Nick Ridpath, Liz Truss, “ Brexit, Clare Lombardelli, Brexit Organizations: London CNN, Conservative Party of, European Union, Labour Party, Labour, National Health Service, Conservatives, Britain's, Institute for Fiscal Studies, Conservative, Bank of England, Office, National Statistics, NHS Locations: Ukraine, United Kingdom, “, United States, Germany, Britain, England

☆ Why this AI researcher thinks there's a 99.9% chance AI wipes us out
▼ + stars: | 2024-06-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

For example, a recent study conducted with 2,700 AI researchers indicated there's only a 5% chance that AI will lead to human extinction. The AI researcher teaches computer science at the University of Louisville and just came out with a book called "AI: Unexplainable, Unpredictable, Uncontrollable." Yampolskiy said he finds that unlikely since no AI model has been completely safe from people attempting to get the AI to do something it wasn't designed to do. AdvertisementGoogle AI Overviews, based on Google's Gemini AI model, is the latest product rollout that didn't stick the landing. The CEO of ChatGPT developer OpenAI, Sam Altman, has suggested a "regulatory sandbox" where people experiment with AI and regulate it based on what "went really wrong" and what went "really right."

Persons: —, Lex Fridman, Fridman, Roman Yampolskiy, Yampolskiy, they've, Biden, Sam Altman, Altman, there'll, ChatGPT, Elon Musk, Eric Schmidt, Schmidt Organizations: Service, Business, University of Louisville, Google Locations: Africa

☆ These restaurants are taking the lead on AI and robots. What it means for their stocks
▼ + stars: | 2024-06-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +11 min

Restaurants have traditionally lagged behind other sectors in their adoption of technology, but rising labor costs have changed the narrative. Major food industry players are making strides to invest in innovation, including AI and robotics. While it is still early days, analysts have already identified some companies that are taking the lead. YUM YTD mountain Yum Brands shares year to date Robots peeling avocados, mixing salads The use of robotics in restaurants is at its nascence. Chipotle, Sweetgreen and Cava partially have an advantage due to the nature of their products, which offer customers a bowl of mixed ingredients as an end order.

Persons: Bernstein, Danilo Gargiulo, Gargiulo, Morgan Stanley, Brian Harbour, Payne Capital Management Courtney Garcia, Rahul Krotthapalli, They've, Courtney Garcia, Garcia, Payne, Piper Sandler, Chipotle Organizations: Wall, CNBC, Google, Payne Capital Management, Starbucks, JPMorgan, Yum Brands, KFC, Taco Bell, Systems, Collider Lab Locations: Cava, Chipotle, Sweetgreen

☆ I accidentally bought a counterfeit backpack on Amazon. Now, I know how to avoid sneaky fake products.
▼ + stars: | 2024-06-04 | by ( Lisa Galek | ) www.businessinsider.com time to read: +4 min

Read previewWhile doing back-to-school shopping for my kids in August 2022, I purchased a black JanSport backpack on Amazon. Many Amazon sales come from third-party sellers, which can be hard to vetOver 60% of Amazon's sales come from independent third-party sellers. AdvertisementAn Amazon representative told Business Insider the company has "proactive measures in place to prevent counterfeit products from being listed and continuously monitor[s] our store." When I realized my JanSport was counterfeit, I contacted the seller through Amazon to request a refund. Lastly, buyers can also report counterfeit products to Amazon Customer Service.

Persons: —, I've, they've, Sellers Organizations: Service, Business, Amazon, Amazon Customer Service

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ I'm self-employed, and I've found 6 essential ways to invest in my business
▼ + stars: | 2024-06-04 | by ( Aleenah Ansari | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRunning a freelance writing business has brought many learning curves, and one of my biggest realizations is the importance of investing in myself. After three years of running my business, I have six tools that have been the most valuable. The Libby app for reading and learning on the goEqually important to being a good writer is reading good writing.

Persons: —, I've, it's, haven't, Libby, Rachel Rodgers, Elaine Welteroth, Amanda Montell Organizations: Service, Business, Quickbooks

☆ Looking for top alternatives to Nvidia? These stocks still look cheap, according to the pros
▼ + stars: | 2024-06-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

We asked the pros which are the best stock alternatives to Nvidia that are still cheap. Meta Meta remains a good investment at its current price, said Adam Coons, portfolio manager at Winthrop Capital Management. In 2025, that revenue growth is set for a 12% increase and earnings growth for 15%. That would put Meta's multiples at 26 times 2024's earnings and 23 times 2025's earnings, according to Coons. Meta is trading at a 19 times EV/EBIT multiple, versus Microsoft's 28 times, and Nvidia's 25 times.

Persons: Adam Coons, it's, Coons, Qualcomm Angelo Zino, Zino Organizations: Nvidia, Nasdaq, U.S . Federal, Winthrop Capital Management, CNBC Pro, Meta, Microsoft, Netflix, Big, Google, Gemini, Qualcomm, CFRA Research, Micron Micron, Micron Locations: Big Tech, China

☆ Biden's new immigration executive order could tighten labor markets, but ease supply chain bottlenecks
▼ + stars: | 2024-06-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +8 min

Mike Blake | ReutersSince 2019, immigration has added 2 million workers to the U.S. labor supply, according to an April analysis by Tedeschi. Without immigrants, Tedeschi estimated that the size of the U.S. labor supply would have shrunk by 1.2 million during that period. The short answer is that this executive order will probably not increase inflation. Some experts say the executive order could bring down costs by smoothing out the U.S.-Mexico supply chain. Biden's executive order could help clear some of these supply chain bottlenecks.

Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Andrés Manuel López Obrador, Jose Luis Gonzalez, Ernie Tedeschi, Tedeschi, Trucks, Daniel Becerril, Donald Trump, I'd, Mike Blake, Tara Watson, Guillermo Arias, Jerry Pacheco, It's, Pacheco, Watson, Trump, Saul Loeb Organizations: White, . Border Patrol, Department of Homeland Security, NBC, Texas National Guard, Reuters, United, Yale University's, White House Council, Economic Advisers, Customs, Brookings, Immigrants, AFP, Getty Images Shipping, Border Industrial Association, Getty Locations: U.S, Mexico, Washington , U.S, United States, Texas, Ciudad Juarez, Nuevo Laredo, Biden's, San Diego , California, Mesa Port, Tijuana , Mexico, New Mexico, Calexico , California

Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

India's Prime Minister Narendra Modi flashes victory sign at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Completed vote counts by the Election Commission of India showed that Modi's BJP won just 240 seats. India's Parliament has 543 seats, and the party or coalition that wins at least 272 forms the government. Modi's decade-long ruleUnder Modi, India, home to 1.4 billion people, has witnessed robust economic growth. While India has seen robust economic growth under Modi, observers and critics have warned about the country's "democratic decline."

Persons: Narendra Modi, Money Sharma, Modi, Aiyar, CNBC's, Shilan Shah, Shah, Kranthi, Sensex, Samir Kapadia, that's, Malcolm Dorson Organizations: India's, Bharatiya Janata Party, BJP, Afp, Getty, Indian, Modi's BJP, National Democratic Alliance, Developmental Inclusive Alliance, Indian National Congress, Policy Research, Centre, Monitoring, Capital Economics, BSE, WealthMills Securities, Adani, Adani Enterprises, State Bank of India, ICICI Bank, Monetary Fund, India Index, Vogel, Dem, Global, Vogel Group, IMF Locations: New Delhi, India, INDIA, China, Sweden

☆ Nvidia could be set for a 30% correction as it faces 3 major headwinds, including waning demand and competition, says a senior investment researcher
▼ + stars: | 2024-06-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

"The company made a massive switch in its consumer mix," said Sandeep Rao, a senior researcher at Leverage Shares, an investment management company. As for competition, even if Nvidia's contenders appear weak, more entrants will grab market share. Beth Kindig, the CEO and lead tech analyst for the I/O Fund, estimates that AMD's market share could reach 20%. Nvidia and AMD have similar production costs since neither makes their GPUs but uses the same supplier, Taiwan Semiconductor (TSMC). "So AMD is a little bit behind in terms of performance," Rao said.

Persons: Sandeep Rao, corporates, Rao, Nvidia's, Blackwell, Rubin, AMD'sRadeon, Beth Kindig, Nvidia's Blackwell Organizations: Service, Apple, Microsoft, Business, Nvidia, Semiconductor, Nvidia Investors, AMD, Taiwan Semiconductor, Intel, Baidu Locations: China, India

☆ 'Am I delusional?': How to get honest answers according to the former CEO of Pizza Hut, Taco Bell and KFC
▼ + stars: | 2024-06-04 | by ( David Novak | ) www.businessinsider.com time to read: +5 min

They recognize an essential truth: delusional people don't learn well. And how can you possibly know where or how to grow and learn if you don't know your starting point? (Surprise, surprise, it really likes information that proves the story right, a problem called confirmation bias.) If you want to see the world the way it really is, you've got to hunt for the truth. Excerpted from "How Leaders Learn: Master the Habits of the World's Most Successful People" by David Novak with Lari Bishop.

Persons: Wendy, I'd, Jeff, Rick, Anne, I'm, Tim Schurrer, David Novak, hemming, hawing, Tim, Andy Pearson, neuroscientists, Clarence Darrow, Darrow, Chase, you've, You've, Lari Bishop, David C Novak Organizations: Service, David Novak Leadership, Harvard Business Review Press Locations: Louisville

☆ Oil prices extend losses on worries of supply rising later in 2024
▼ + stars: | 2024-06-04 | by ( ) www.cnbc.com time to read: +1 min

Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent closed below $80 for the first time since Feb. 7, after falling more than 3% on Monday. Signs of weakening demand growth have also weighed on oil prices in recent months, with data on U.S. fuel consumption in focus. The U.S. government will release inventory and product supplied data on Wednesday. Product supplied, considered a proxy for demand, will show how much gasoline was consumed around the Memorial Day weekend, the start to the U.S. driving season.

Persons: Brent, Walt Chancellor Organizations: Brent, . West Texas, of, Petroleum, Sunday, Macquarie Locations: ., Russia, OPEC, United States, U.S

☆ How AI could supercharge the Vision Pro
▼ + stars: | 2024-06-04 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

It could also boost sales of the pricey Vision Pro, which has reportedly and unexpectedly received a production cut. During its most recent earnings call, CEO Tim Cook said more than half of the Fortune 100 companies have already bought an Apple Vision Pro. But while it’s unclear when generative AI will come to the Vision Pro, Nygugen said: “It’s only a matter of time.”That’s because the Vision Pro is merely just another interface – much like a tablet, laptop, or watch, that touches Apple’s ecosystem. The Vision Pro, the tech giant's $3,499 headset, is its first major release since the Apple Watch nine years ago. “Vision Pro just came out a few months ago and it needs to get its feet under it before it really starts to take off,” Llamas said.

Persons: it’s, Tim Cook, It’s, Siri, “, Tuong, ”, Nygugen, ” Nygugen, Angela Weiss, Ming Chi, Kuo, Jeremy Bailenson, Bailenson, Ramon Llamas, Apple, ChatGPT – Organizations: CNN, Developers, Google, Samsung, Vision, Fortune, Apple Vision, Gartner, Apple, Apple Watch, Getty, Vision Pro, Stanford, VR, IDC, Microsoft, “ Locations: Cupertino , California, New York City

☆ Lionel Messi is taking on Prime with a new sports drink
▼ + stars: | 2024-06-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Logan Paul’s Prime drink has some new competition in the form of the G.O.A.T. And the drink is also a new foray into non-alcoholic drinks for Mark Anthony Brands, as Americans consume less alcohol. Más+ by Messi is a low-sugar drink containing electrolytes and vitamins without artificial sweeteners, colors or caffeine. Hydration and energy drinks are projected to be a $60 billion market by 2032, growing roughly 6% annually, according to Precedence Research. “Gen Alpha is up for grabs, and that is who these new generation energy drinks are aiming to capture especially as they enter teenage years.”

Persons: New York CNN — Logan, Lionel Messi, White, Mark Anthony Brands, Messi, Miami Punch, Ballon, Seltzer, Andrea Hernández, ”, “, ” Hernández, Alpha Organizations: New, New York CNN, Soccer, Paul’s, Gatorade, Miami, Inter Miami, Orange, Major League Soccer, Messi, Beverage Co, Research, BodyArmor, CNN Locations: New York, Miami, America

☆ Amazon's Shopify killer got off to a slow start, according to sellers and internal emails
▼ + stars: | 2024-06-03 | by ( Madeline Stone | Eugene Kim | ) www.businessinsider.com time to read: +10 min

Rainier...)," Larsen wrote in the email, referring to a snowcapped peak near Seattle, where Amazon is headquartered. Months later, Amazon struck a deal with Shopify that put Buy with Prime on the Shopify merchant marketplace, extending the tool's reach with sellers. Advertisement"When merchants push that metric to >75%, it'll be a good indication that we've found product-market fit," Larsen wrote. To use Buy with Prime, Amazon charges merchants a 3% Prime service fee in addition to fulfillment fees and payment processing fees. However, Piiparinen said the 3% service fee is less than the referral fees merchants pay when selling on Amazon.com.

Persons: —, Craig Leslie, Leslie, It's, Peter Larsen, Andy Jassy, Larsen, Santos, Anders Piiparinen, who's, doesn't, Piiparinen, Amazon's, Smart, ZOA, GreatCircleUS.com, Madeline Stone Organizations: Service, Amazon, Business, Bean Coffee Company, Shoppers, Ekrin Athletics, BI, Prime Locations: . Rainier, ., Seattle, Piiparinen, mstone@businessinsider.com

☆ Check Point CEO on state of cyber security and protecting data through AI
▼ + stars: | 2024-06-03 | 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 EmailCheck Point CEO on state of cyber security and protecting data through AIGil Shwed, Founder and CEO of Check Point Software Technologies, discusses the cyber security market and the use of artificial intelligence in product development.

Persons: Gil Shwed Organizations: Software Technologies

☆ Nvidia's latest roadmap shows how it plans to keep the lead in the AI chip race
▼ + stars: | 2024-06-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

NVDA .SPX 1Y mountain Nvidia's stock performance over the past 12 months compared with the S & P 500. The fresh details Sunday underscore Nvidia's commitment to roll out a new version of its AI chip platform roughly every year, instead of the two-year cadence it used to follow. In a sign of the competition, Advanced Micro Devices , Nvidia's main rival in the booming AI chip market, also highlighted plans at Computex to release updated processors each year. The product announcements "continue to bolster" Nvidia's AI leadership position, Bank of America analysts wrote to clients Monday. The firm reiterated its price target of $1,500 per share and top-pick designation on Nvidia's stock.

Persons: Rubin, Blackwell, Jensen Huang, Taiwan —, Vera, Hopper, Grace, Vera Rubin —, what's, Goldman, Jim Cramer's, Jim Cramer, Jim, Sam Yeh Organizations: Nvidia, Devices, AMD, Microsoft, Blackwell, Smithsonian, Wall Street, Bank of America, CNBC, AFP, Getty Locations: Blackwell, Taiwan, Computex, Taipei

☆ Nvidia's 'Rubin' announcement is a clear commitment to the 1-year product cycle, says Apoorv Agrawal
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia's 'Rubin' announcement is a clear commitment to the 1-year product cycle, says Apoorv AgrawalApoorv Agrawal, Altimeter Capital partner, joins 'Squawk Box' to discuss Nvidia's new line of 'Rubin' AI processors, state of the AI technology race, and more.

Persons: Nvidia's, Rubin, Apoorv Agrawal Apoorv Agrawal

☆ Moderna, Merck say vaccine improved survival in patients with deadly skin cancer
▼ + stars: | 2024-06-03 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Moderna and Merck released more positive three-year data Monday on their experimental vaccine, given to patients with the most deadly form of skin cancer in combination with the therapy Keytruda. The vaccine together with Merck's Keytruda improved survival and showed long-lasting efficacy in a midstage study in patients with a deadly form of skin cancer. Melanoma is responsible for the large majority of skin cancer deaths, according to the American Cancer Society. Moderna is also conducting another phase three trial of the vaccine in patients with a type of lung cancer. This year, Merck and Moderna started a two-part mid- to late-stage trial on the vaccine and Keytruda in patients at an advanced stage of a common skin cancer.

Persons: Merck's, Kyle Holen, Keytruda, Stephane Bancel, Bancel Organizations: Moderna, Merck, American Society of Clinical Oncology, CNBC, U.S . Food, Drug Administration, FDA, American Cancer Society Locations: Chicago, U.S, Moderna

Citi double upgraded Best Buy to buy from sell, and its new price target indicates upside of 18%. MRVL YTD mountain MRVL year to date — Lisa Kailai Han 6:16 a.m.: Bank of America sticks to Nvidia as a top pick with 36% upside Nvidia remains a top pick for Bank of America. He also maintained his price target of $1,500 and named Nvidia a top pick following CEO Jensen Huang's keynote speech at the Computex expo this past weekend. Arya's price target implies that Nvidia stock could rise 36.8% from here, adding to its whopping 121% year-to-date rally. — Lisa Kailai Han 5:46 a.m.: Citi double upgrades Best Buy to buy rating from sell There's a rosy outlook for Best Buy ahead, according to Citi.

Persons: Kimberly, Clark, Goldman Sachs, Toshiya Hari, Hari, Marvell's, Lisa Kailai Han, Vivek Arya, Jensen, Arya, — Lisa Kailai Han, Piper Sandler, Masimo, Jason Bednar, Bednar, MASI, Steven Zaccone, Nik Modi, Modi, Fred Imbert Organizations: CNBC, Citi, RBC, Bank of America, Nvidia, Marvell Technology Marvell Technology, Enterprise Networking, Marvell, Sound, Kimberly, Clark Investors, RBC Capital Markets Locations: Friday's, Kimberly, KMB

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