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☆ John Oliver recreates Red Lobster restaurant using auctioned-off furniture because 'any random idiot could run a Red Lobster better than these companies have'
▼ + stars: | 2024-06-05 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

John Oliver recreated a defunct Red Lobster restaurant on his show. Oliver criticized private equity firms behind Red Lobster, which filed for bankruptcy in May. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJohn Oliver cooked Red Lobster by purchasing the entire contents of one defunct restaurant and recreating his own version of the struggling seafood chain. Oliver, who did a segment on Red Lobster during an episode of his show "Last Week Tonight" that aired Sunday, criticized the private equity firms behind the chain, which filed for Chapter 11 bankruptcy in May.

Persons: John Oliver, Oliver, — Organizations: Service, Business

☆ A Texas HIFI couple made $200,000 last year. Their budget for vacations and restaurants keeps shrinking despite 'making more money than ever.'
▼ + stars: | 2024-06-05 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

But with the rising cost of living, Joe is apprehensive about the future. His experience echoes that of many HIFIs, a group of Americans who are defined as high income, financially insecure. Joe doesn't feel wealthy, despite a six-figure incomeRight before the pandemic, Joe estimates he and his wife made about $150,000 together. And, despite his household income, Joe doesn't feel wealthy. He doesn't feel like he's saved enough in his 401(k), and he worries his current spending will hurt his future.

Persons: —, Joe doesn't, Joe, we're, Zers, Gen Zers, Debra Kaplan, Kaplan, they're, We're Organizations: Service, Business, BI Locations: Austin

☆ These are the states where it may be hardest to buy an EV
▼ + stars: | 2024-06-05 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

Buying an EV may be more difficult in some states than others. Dealers in some rural states have limited supplies of electric cars, data from CarGurus has shown. The data included EVs in dealerships, but not those sold directly to customers, like Teslas. AdvertisementBuying an EV is more difficult in some states than others, new data has suggested. Data from car-listing platform CarGurus shows that over one-third of new electric vehicles are going to California, Texas, and Florida.

Persons: — Organizations: Dealers, Service Locations: CarGurus, California , Texas, Florida

☆ The Great Concert Ticket Bust
▼ + stars: | 2024-06-05 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

There are a combination of factors that are dragging down some artists' ticket sales. Just having the big song doesn't necessarily always translate into ticket sales. But there are no guarantees that any of that will translate to hard ticket sales. "Just having the big song doesn't necessarily always translate into ticket sales." Hiccups are not all about ticket sales, either.

Persons: It's, Jennifer Lopez, Ben Affleck, she's, Lopez, JLo, Troye Sivan, Charli XCX, Bad Bunny, Justin Timberlake, Taylor Swift, Luke Combs, Zach Bryan, Olivia Rodrigo, they're, Jarred Arfa, Billy Joel, You'd, Gary Witt, COVID, who's, Nicki Minaj, David, Alicia Keys, that's, you've, Arfa, he's, Sivan, Charli, Kid Cudi, aren't, Def Leppard, Mötley, There's, SeatGeek, Witt, they'd, doesn't, Emily Stewart Organizations: Company, Ticketmaster, Independent Artist Group, Metallica, The Pabst Theater Group, Prince, Green, Live, Department of Justice, The Pabst Theater, Business Locations: Bronx, Minneapolis, Milwaukee

☆ Putin has started wearing 'concealed body armor' at public events: report
▼ + stars: | 2024-06-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Russian President Vladimir Putin has started wearing body armor when out at outdoor public events. Officials told The Moscow Times that Putin's security team had recommended the measure. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussian leader Vladimir Putin has started wearing body armor at outdoor public events, The Moscow Times reported on Tuesday, citing officials who had seen Putin at these events. "This year on May 9, the chief was clearly wearing concealed body armor during the parade," an official said of Putin's appearance at this year's Moscow Victory Day parade.

Persons: Vladimir Putin, —, Putin Organizations: Moscow Times, Service, Business

☆ How Electric Car Batteries Might Aid the Grid (and Win Over Drivers)
▼ + stars: | 2024-06-05 | by ( Jack Ewing | ) www.nytimes.com time to read: +1 min

Electric cars are more expensive than gasoline models largely because batteries cost so much. But new technology could turn those pricey devices into an asset, giving owners benefits like reduced utility bills, lower lease payments or free parking. Automakers would make money by serving as intermediaries between car owners and power suppliers. Millions of cars could be thought of as a huge energy system that, for the first time, will be connected to another enormous energy system, the electrical grid, said Matthias Preindl, an associate professor of power electronic systems at Columbia University. “They will interact more in the future, and they can potentially support one another — or stress one another.”

Persons: Matthias Preindl, “ We’re, Preindl, “, ” Organizations: Ford Motor, General Motors, BMW, Columbia University

☆ The best banks in the Asia-Pacific region, according to customers
▼ + stars: | 2024-06-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment. After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. The report below — the first of its kind — is designed to highlight the banks that best meet consumer needs in their respective markets. They also rated each based on five criteria: trust, terms and conditions (such as fees and rates), customer service, digital services and quality of financial advice. The ranking only included banks that qualified according to the criteria described in the report.

Persons: They're Organizations: Customers, CNBC Locations: SINGAPORE, Asia, Pacific

☆ A lack of representation, careless comments and ‘racial banter’ – how British rugby is facing up to its diversity issues
▼ + stars: | 2024-06-05 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +11 min

Just ask Black rugby player and England international Sadia Kabeya, who says a lack of cultural and ethnic diversity in her sport took a toll on her identity. Representation mattersA 2020 report by Sport England showed that the participation share of White British adults in rugby union was more than 90%, 8.2% higher than the national population share. A lack of diversity in the sport in England is also reflected in the demographics of rugby audiences. Kabeya is particularly passionate about the topic of Black rugby players’ hair. Its significance runs deep, given the historical links between Black hair and identity and also resistance.

Persons: Kabeya, ”, “, ” Kabeya, Maud Muir, Lucy Packer, David Rogers, you’re, White, ” “, ” Jatin Patel, weren’t, Luther Burrell, Burrell, ” Patel, Ashton Hewitt –, –, ” Hewitt, Hewitt, Tyler Miller, Liam Scott, Scott, Mike Hewitt, Patel, George Floyd Organizations: CNN — Elite, England, CNN Sport, Rugby Football Union, RFU, Rugby, Rugby Players Association, Nations, Richmond Women, CNN, Six Nations, Getty, Loughborough Lightning, Sport England, Diversity, Daily Mail, Newcastle Falcons, Dragons, United Rugby, Leinster, rugby, Ireland, Twickenham, Pictures Locations: ”, England, London, Richmond, Wales, Dublin, Black

☆ Jensen Huang signed a woman's chest. Yes, you read that right.
▼ + stars: | 2024-06-05 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Nvidia CEO Jensen Huang signed autographs, including a woman's top, at a Taiwanese tech event. 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 . In a crowded booth at a Taiwanese tech conference on Tuesday, the Nvidia CEO wore the same glasses and Tom Ford jacket he sported for Sunday night's keynote address. He signed Macbooks, chips, and even a woman's top, just above her cleavage.

Persons: Jensen Huang, —, Tom Ford Organizations: Nvidia, Service, rockstar, Business Locations: Taiwan

☆ OpenAI is facing controversy. Again.
▼ + stars: | 2024-06-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the latest controversy to embroil OpenAI amid a difficult few months for the startup . Their takeaway was simple: OpenAI wants to have it both ways regarding how it's perceived about safety and commercialization. It's structured as a "capped-profit" company governed by a nonprofit, and Altman doesn't hold equity directly in OpenAI. The result, the VC told me, is people feel OpenAI is talking out of both sides of its mouth. It doesn't help that some OpenAI employees joined when that split was closer to 80/20 and favored safety over business, they added.

Persons: —, we've, OpenAI Justin Sullivan, Chelsea Jia Feng, Anthropic signees, Scarlett Johansson, Elon, Madeline Berg, Sam Altman, Altman, Justin Sullivan, OpenAI, It's, Patrick McMullan, Jenny Chang, Rodriguez, Izzy Englander's, Griffin's, Marko Kolanovic, ANDREW CABALLERO, REYNOLDS, youngs, Mark Zuckerberg, Elon Musk, Keith Enright, Alyssa Powell, They've, Shopify, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, Business, Google, Millennium Management, Getty Images, Facebook, CNBC, BI, SpaceX Locations: OpenAI, Patrick, It's, Tesla, New York, London

☆ Male birth control gel: A long-awaited hormonal contraceptive option for men may be closer to reality
▼ + stars: | 2024-06-05 | by ( Brenda Goodman | ) edition.cnn.com time to read: +8 min

CNN —After decades of false starts, researchers say they are finally making progress on a long-acting and reversible birth control option for men. The gel was developed by the National Institutes of Health and the nonprofit Population Council, and it takes much the same approach as birth control pills for women. “I would say our expectation was that it would be similar to hormonal birth control pills. The gel also seems to have other advantages over female birth control. To him, it doesn’t feel fair that his partner has to shoulder the burden of birth control.

Persons: “ We’ve, ”, Diana Blithe, Blithe, “, that’s, Matthew Treviño, it’s, he’s, “ I’ve, Emily Fletcher, –, Roe, Wade, ’ “ Fletcher, Treviño, ” Treviño, That’s, Christina Wang, Dr, Sanjay Gupta, Wang, they’ll, Brian Nguyen Organizations: CNN, National Institutes of Health, Population Council, NIH’s National Institute of Child Health, Human, Endocrine Society, World Health Organization, University of California, UC Davis, US Food and Drug Administration, Lundquist, Medical, Get CNN, CNN Health, University of Southern Locations: Boston, Sacramento , California, Davis, University of Southern California

☆ Biden aims to deepen transatlantic ties with trip to France for D-Day, state visit amid Ukraine crisis
▼ + stars: | 2024-06-05 | by ( Kayla Tausche | ) edition.cnn.com time to read: +7 min

Paris CNN —US President Joe Biden touched down in Paris on Wednesday for a trip marking the 80th anniversary of D-Day and engaging in a state visit hosted by French President Emmanuel Macron. Biden “really believes we’re at an inflection point in history,” John Kirby, spokesman for the National Security Council, said. The visit to France aims to bring Biden closer to one of his key allies on the world stage. Biden quietly gave Ukraine permission to use those weapons; Macron was less subtle in his support for the measure. By contrast, European Union member states together have sent Ukraine $53 billion in direct financial assistance and $35 billion in military aid.

Persons: Joe Biden, Emmanuel Macron, Biden, Biden “, ” John Kirby, “ It’s, ” Kirby, ”, Andrew Bates, “, Republican –, Macron, ” Macron, Volodymyr Zelensky, Jake Sullivan, ” Marcon, Zelensky, ” CNN’s Jessie Gretener, Mariya Knight, Joseph Ataman Organizations: Paris CNN, French, National Security Council, Army Rangers, Biden, Wall, Air Force, Congressional, Republicans, Republican, White House, United, Union, Bank, European Union Locations: Paris, Europe, Russia, Ukraine, China, Normandy, Nazi Germany, Pointe, Omaha and Utah, France, Washington, Italy, Los Angeles, Moscow, Kharkiv, Meseberg, Brandenburg, Germany, United States

☆ Erdogan turns up the heat on Israel as his party’s popularity wanes
▼ + stars: | 2024-06-05 | by ( Scott Mclean | ) edition.cnn.com time to read: +10 min

Beyond the sputtering Turkish economy – many pundits blamed the electoral setback on his stance on Israel and its war in Gaza. There are no sanctions, no concrete steps taken, trade with Israel still continues,” said New Welfare’s leader Fatih Erbakan in March. For Erdogan, ‘Hamas is Palestine’Experts say the comment made by Erdogan in the presence of the Greek leader may have in fact been intended for an audience closer to home. Chris McGrath/Getty Images“For Erdogan, Hamas is Palestine. Turkish President Recep Tayyip Erdogan (C) and state officials in Ankara, Turkey on October 29.

Persons: Recep Tayyip Erdogan, –, Hitler, Erdogan, Erdogan’s, ”, Fatih Erbakan, Israel, Seda, “ Erdogan, Ismail Haniyeh, Handout, Murat Cetinmuhurdar, ” Erdogan, Kyriakos Mitsotakis, ” Mitsotakis, misspoke, Gazans, ‘, Evren Balta, Chris McGrath, ” Balta, Ozgur Ozel, Mustafa Kemal Ataturk, “, Ekrem Imamoglu, they’ve, Fabrice Pothier, Jens Stoltenberg, Akif Cagatay Kilic, Haniyeh “, hasn’t, Benjamin, Netanyahu –, isn’t, Hakan Fidan, Fidan, Antony Blinken, Adem Altan, Balta, Turkey isn’t, Pothier, it’s Organizations: Turkey CNN, Palestinian, NATO, New Welfare, New, Isik University, CNN, Welfare, Israel, International Court of Justice, of Independence, Anadolu, Getty, TRT, Greek, “, Turkish Ministry of Health, Ozyegin University, West Bank, CHP, Rasmussen Global, German Press Agency, Hamas, Turkish, Qatar, Turkish Foreign Ministry Locations: Istanbul, Turkey, Gaza, Israel, Turkish, of, Ankara, “, ”, Palestine, NATO, Palestinian, Washington, Tehran, AFP, Iran, Qatar

☆ Jack Smith moved to gag Trump from claiming the FBI plotted his assassination. The motion could strategically reveal Judge Aileen Cannon's alleged bias.
▼ + stars: | 2024-06-05 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSpecial counsel Jack Smith and lawyers for Donald Trump are fighting over a proposed gag order that would prevent the former president from claiming the FBI plotted to assassinate him during their August 2022 raid on Mar-A-Lago. This story is available exclusively to Business Insider subscribers. "Judge Cannon has issued — or not issued — some very bizarre orders, but given that Judge Cannon has seemingly sided with Trump at every possible turn, I wouldn't be surprised if she did not issue this order." Representatives for Smith's office and lawyers for Trump did not respond to requests for comment from Business Insider.

Persons: —, Jack Smith, Donald Trump, Smith, Aileen Cannon, Cannon, Trump, George Conway, Kellyanne Conway, Ty Cobb, Tracy Pearson, Kevin McMunigal, McMunigal, Neama, Rahmani, Judge Cannon, Pearson, that's Organizations: Service, Trump, Business, Circuit, Washington Post, Trump White House, CNN, New York Times Locations: Mar

☆ Sam Altman's OpenAI is paying publishers big money for content. That could be a lifeline — or blow up in their faces.
▼ + stars: | 2024-06-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +8 min

You've heard this one before: A big tech company is offering a lifeline to distressed media companies. That's the argument against a slew of deals publishers have been making with Sam Altman's OpenAI over the past few months. But the OpenAI deals, the publishers emphasize, are straightforward licensing deals for stuff they're already making. AdvertisementWhich means — they say — at the end of these deals, publishers won't have to regret investing in another defunct Big Tech project. But the thing I'm most worried about as someone who makes words for a living isn't a replay of the old Facebook/Apple/Google deals publishers now regret.

Persons: You've, It's, Sam Altman's OpenAI, Axel Springer, Rupert, Barry Diller's Dotdash Meredith, Laurene Powell, haven't, OpenAI, it's, Jessica Lessin, Lucy, Charlie Brown, —, Let's, Bob Iger, ChatGPT, that's Organizations: Service, Vox Media, Rupert Murdoch's News Corp, Laurene Powell Jobs, Atlantic Media, Apple, Google, Facebook, The New York Times, Big Tech, New York Times, Microsoft, Netflix, ABC, Disney

☆ The tattoo industry is facing a reckoning, with customers fed up with bad artists, overpricing, and sexism
▼ + stars: | 2024-06-05 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Jason John Miles, a tattoo artist and content creator, said the industry is in a "bad state." According to data from Fortune Business Insights, the tattoo industry is expected to reach $3.92 billion by 2030. "Consumers are less likely to put up with bullshit from tattoo artists and tattoo shops," Dominique said. There are tons of good male tattoo artists, she said, and there is still a market for them. Despite the current challenges, artists who spoke with BI said they were hopeful about the tattoo industry.

Persons: —, Jason John Miles, Jason Barry Hua, Hua, Allan Buhl, we've, Buhl, they've, Dominique, They're, Statista, Gen Zers, There's, Courtney Monteith, overcharged, they're, Elaine, Kee Kee James, Mikhaila Friel Organizations: Service, Business, Pew Research Center, Fortune Business, birmingham, BI Locations: New York, United States, Florida

☆ Photos show how being LGBTQ+ in the US military has changed
▼ + stars: | 2024-06-05 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

The fight for LGBTQ+ equality in the military has spanned decades. "Don't ask, don't tell" forced LGBTQ+ service members to remain closeted. Trump banned transgender individuals from serving in the military in 2017, but Biden overturned it. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Even though the "blue discharges" of World War II and the "don't ask, don't tell" policy of the 1990s are things of the past, LGBTQ+ service members still face hurdles despite the progress of the last few decades.

Persons: Trump, Biden, — Organizations: Service, Business

☆ Goldman: May see a healthy equity pullback, but we're all in on fixed income
▼ + stars: | 2024-06-05 | 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 EmailGoldman: May see a healthy equity pullback, but we're all in on fixed incomeGene Goldman, Chief Investment Officer at Cetera, discusses the markets, the Fed, and the economy.

Persons: Goldman, Gene Goldman

☆ There are 8 warning signs of a stock market bubble and 6 of them have already flashed, UBS says
▼ + stars: | 2024-06-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

UBS strategists say six out of eight signs of a stock market bubble are already flashing. In a recent note from UBS, strategist Andrew Garthwaite outlined the eight warning signs of a stock market bubble — and according to Garthwaite, six of them are already flashing. These are the eight stock market bubble warning signs, according to Garthwaite. "We can see this if we look at the TMT period when the NIPA profits fell while stock market profits rose. Extended period of limited declines - Hasn't flashedPrevious stock market bubbles saw a multi-year period of limited sell-offs of less than 20%.

Persons: —, There's, Andrew Garthwaite, Garthwaite, we're, Bubbles Organizations: UBS, Service, Federal Reserve Locations: Garthwaite, Japan

☆ The historic rise of Facebook in photos — from a Harvard dorm room to one of the world's biggest companies
▼ + stars: | 2024-06-05 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

This is a big year for Meta: Facebook turned 20 in February. The company's meteoric rise is one of Silicon Valley's biggest success stories. Here's how Facebook grew from a website built in a Harvard dorm to one of the world's biggest companies. AdvertisementFacebook is a classic Silicon Valley success story: It's gone from an idea hatched in a Harvard dorm to one of the most powerful and influential companies in the world. These days, Meta has more than 2 billion people using its social network monthly and is one of the world's biggest companies.

Persons: Facebook, —, It's, Mark Zuckerberg Organizations: Meta, Facebook, Harvard, Service, Business

☆ Tesla's ex-AI chief says it makes perfect sense for Elon Musk to divert Nvidia chips from Tesla to X
▼ + stars: | 2024-06-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk has been criticized for his decision to redirect Tesla's Nvidia chips to X. But Tesla's former head of AI infrastructure, Tim Zaman has come forward to defend Musk's decision. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDiverting Tesla's AI chips to X made sense given the logistics that come with assembling a supercomputer, the automaker's former head of AI infrastructure said on Tuesday. "The practicalities of building a supercomputer are insane once you get down to it," Tim Zaman wrote in an X post.

Persons: Elon Musk, Tim Zaman, Zaman, — Organizations: Service

Read previewAmericans are on their way to work — and they probably still have a long way to go. New research first reported by The Wall Street Journal shows that more workers are supercommuting, meaning they're traveling more than 75 miles each way for work. Some trips, they found, are as long as five hours each way, with some starting their commutes at 3 a.m. New York City experienced an 89% surge in supercommuting, from 1.9% to 3.6% of all trips. Phoenix, Arizona — a city that's seen a surge of new residents in recent years and, as a result, soaring housing costs — has also seen supercommuting increase by 57%.

Persons: —, Nick Bloom, Alex Finan, Bloom, Finan, Kyle Rice Organizations: Service, Wall Street Journal, Business, metros, Stanford University, WFH Research, Economic Locations: New York City, Los Angeles, Washington, supercommuters . Phoenix , Arizona, Bloom, Willmington , Delaware, Delaware, York

☆ Live Updates: NASA and Boeing Prepare to Launch Astronauts on Starliner Spacecraft
▼ + stars: | 2024-06-05 | by ( Kenneth Chang | The New York Times | ) www.nytimes.com time to read: +3 min

The astronauts Butch Wilmore and Suni Williams on their way to the Starliner spacecraft on May 6, before the launch was called off. “It almost feels unreal,” Ms. Williams replied. She was a test pilot in the U.S. Navy and has more than 3,000 hours flying 30 different aircraft. After a glitch-filled test flight in December 2019 with no crew aboard, delays shuffled the astronaut assignments. Indeed, none of the astronauts that NASA named in 2018 to fly on the test flight ended up being on it.

Persons: Butch Wilmore, Suni Williams, Wilmore, Williams, Neil Armstrong, Buzz Aldrin, Michael Collins, Ms, “, ” Steve Stich, They’ve, ” Mr, Stich Organizations: Boeing, Kennedy Space Center, Johnson Space Center, U.S . Navy, NASA, Navy, Station Locations: Florida, Houston, Ohio, Massachusetts, Tennessee, Iraq, Bosnia

☆ Opinion | I Spent Three Years Talking to Boys. Here’s What I Found.
▼ + stars: | 2024-06-05 | by ( Ruth Whippman | ) www.nytimes.com time to read: +2 min

During the pandemic, he was a moderator for a Discord community, at first mainly sorting out technical problems and weeding out trolls. But one night, an adolescent boy called him over voice chat, and started sharing how lonely and depressed he was. But it was the boys who seemed the most desperately lonely and isolated. On the site, he said, he found “a lot more unhealthy men than unhealthy women.” He added: “With men, there is a huge thing about mental health and shame because you’re not supposed to be weak. You’re not supposed to be broken.” A male mental-health crisis was flying under the radar.

Persons: he’d, you’re, You’re Locations: Cedar City , Utah, America

☆ Will the AI spending boom pay off? One tech fund manager says it looks 'compelling' for some firms
▼ + stars: | 2024-06-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Many companies are in the AI infrastructure buildout phase right now. That's because, in order to enable AI applications, companies have to make the switch from "general purpose computing to accelerated computing," she said. "You can't run AI on traditional compute, it would be prohibitively expensive, and far too energy intensive," said Pleydell-Bouverie. That's a 35% increase from last year, she said, and all this incremental investment is being directed to AI initiatives. And the world is "only in the first five minutes of this AI infrastructure buildout," she added.

Persons: Clare Pleydell, Bouverie, Meta Organizations: Nvidia, Microsoft, Meta, Liontrust Asset Management, CNBC Pro, Google, Apple, JPMorgan, Liontrust Global Technology Fund, Technology

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