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☆ At the Time 100 Gala, Glamour Meets Influence
▼ + stars: | 2024-04-26 | by ( Jacob Bernstein | Krista Schlueter | ) www.nytimes.com time to read: 1 min

“This line is crazy,” said the broadcast journalist Don Lemon, as he walked toward the red carpet crush at just after 7 p.m. on Thursday night. He was bound for the Time 100 Gala, the annual black tie schmoozefest in Manhattan where a 100-person smorgasbord of luminaries — tech titans, activists, Oscar winners, pop stars, athletes and artists — was celebrated by the magazine as the most important people of the year. And the celebrities who were feted at the event included Colman Domingo, Taraji P. Henson, Dev Patel, Patrick Mahomes and Dua Lipa. Lemon, who arrived with his husband, the real estate broker Tim Malone, was not among the honorees. Still, he took questions from the journalists at the barricades who wanted details from his recent wedding, including which designer had made the suit he had worn for the occasion.

Persons: ”, Don Lemon, Oscar, —, Colman Domingo, Taraji P, Henson, Dev Patel, Patrick Mahomes, Lemon, Tim Malone Organizations: titans Locations: Manhattan, Dua Lipa

☆ Stock market today: Indexes gain as investors assess new inflation data and latest earnings
▼ + stars: | 2024-04-26 | by ( Max Adams | Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

US stocks rose on Friday as markets assessed new inflation data in the form of March PCE. The Fed's preferred gauge showed inflation rose 2.8% year-over-year, slightly higher than estimates. AdvertisementUS stocks climbed on Friday, with investors digesting new inflation data and cheering earnings from mega-cap tech titans Microsoft and Alphabet. Personal consumption expenditures data showed prices rose more than expected last month. The Federal Reserve's preferred measure of inflation showed an uptick of 2.8% versus estimates of 2.7%.

Persons: —, Clark Bellin Organizations: PCE, Microsoft, Google, Service, Federal, Bellwether

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City

☆ Billionaires like Mark Zuckerberg and Bill Gates have transitioned to their spring looks
▼ + stars: | 2024-04-20 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Tech billionaires are stepping it up from the basic t-shirt and jeans they're known for donning. AdvertisementLook no further than Meta CEO Mark Zuckerberg as a real example of this fashion upgrade to his techy street style. Here's what Zuckerberg and his fellow wealthy tech titans are wearing this spring, according to style experts. Clive Brunskill/Getty ImagesIn March, Bill Gates was spotted in a navy top while sitting in the crowd of a tennis match. Victoria Hitchcock; Oscar HeymanAs for her female clients, Hitchcock said they're going for understated shoe options and eye-catching jewelry.

Persons: —, They're, Victoria Hitchcock, Mark Zuckerberg, he's, Hitchcock, Zuckerberg, Bill Gates, Clive Brunskill, it's, Gates, Paul Altieri, Sergey Brin, George Esquivel, Nicole Pollard Bayme, Gen, It's, Phil Knight, they're, Manolo Blahnik, Oscar Heyman, Manolo Blahnik — Organizations: Service, Tech, Business, Microsoft, LA, Nike, Getty Locations: San Francisco Bay, Silicon, San Francisco, Silicon Valley

☆ Mark Zuckerberg is bringing out the chains and leaning hard into his version of mob chic
▼ + stars: | 2024-04-19 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Zuckerberg wore a navy blue t-shirt and chain necklace while announcing his company's latest AI products on Thursday. At the UFC event, Chan leaned into the "mob wife" aesthetic, pairing her all-black outfit with a gold necklace. Apart from getting super fit, Bezos also makes plenty of bold fashion choices with his fiancé, Lauren Sánchez. The couple turned heads when they sported the "mob chic" look at the Dolce & Gabbana Party at the Milan Fashion Week in January.

Persons: Mark Zuckerberg, —, Zuckerberg, swag, 3BU0z0n9dr, Armand Domalewski, Priscilla Chan, Chan, Jeff Bezos, Bezos, Lauren Sánchez, Jensen Huang Organizations: UFC, Service, Dolce, Gabbana Party, Milan, titans, Meta, Business Insider Locations: Jersey

☆ In AI rivalry with the U.S., China is behind on a key asset: Its own OpenAI
▼ + stars: | 2024-03-31 | by ( Rebecca Fannin | ) www.cnbc.com time to read: +4 min

In China, which is angling to produce its own chips or get more from Nvidia, no dominant gen AI contender to OpenAI has emerged yet among dozens of Chinese tech titans and startups. Last year, funding of gen AI upstarts accounted for nearly half of $42.5 billion invested globally in artificial intelligence companies, according to CB Insights. "China is at a big disadvantage in building the foundation models for Gen AI," said Rui Ma, an AI investor and co-founder of investment syndicate and podcast TechBuzz China. China does have the tech talent to make a difference in the AI rivalry in the years ahead. Additionally, among top-tier AI researchers working at U.S. institutions, 38% have China as their country of origin, compared with 37% from the U.S.New Chinese gen AI market entries can also reach mass adoption quickly.

Persons: Ernie Bot, OpenAI, Paul Triolo, Jenny Xiao, Rui Ma, Triolo, Sora, Ma, Marco Polo, Baidu's, Ernie, Leong Organizations: Global, Trade, Hangzhou International, Nvidia, tech titans, titans Microsoft, Google, Amazon, U.S, Dentons Global Advisors, Leonis Capital, OpenAI, Paulson Institute, U.S ., Samsung, Apple, Baidu Locations: Hangzhou, Zhejiang Province, China, Washington ,, Silicon, San Francisco, The U.S, U.S, OpenAI

☆ Sam Altman's mission to increase human lifespan with a $180 million shipping container experiment at Retro Biosciences
▼ + stars: | 2024-03-23 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +11 min

Called Retro Biosciences, the startup's goal is simple yet supremely ambitious: Add 10 healthy, enjoyable years onto the back end of our lifetimes. But Retro Biosciences actually fits quite neatly into Altman's futuristic worldview. Retro BiosciencesRetro Biosciences sits about 30 miles south of OpenAI's San Francisco headquarters, where ChatGPT was hatched. Joe Betts-LaCroix is the CEO of Retro Biosciences. There are things we already know work super well to improve human longevity, like exercise, diet, faith, and social support.

Persons: Sam Altman, he's, Elon Musk, Mark Zuckerberg, Altman, Instacart —, Joe Betts, LaCroix, isn't, Betts, Retro's, spry, Yamanaka, Shinya Yamanaka, it's, they've, Sora, Thiel, Jeff Bezos, Bezos, Yuri Milner, Billionaire Peter Thiel, He's, Aubrey de Grey, Christian Angermayer, biogerontologist Daniel Promislow, Altman's, Matt Buckley Organizations: Business, OpenAI, Biosciences, Harvard, MIT, Caltech, Extension, Apple, Stanford University, Retro, Bezos, Labs, Billionaire, Cambrian, Retro Biosciences, Bloomberg Locations: geroscience, Silicon Valley, OpenAI's San Francisco, Meta, Golden City, Retro.bio, Redwood City , California, San Diego

☆ Forget the Magnificent 7 — Top tech analyst Mahaney recommends the ‘Electric Eleven’
▼ + stars: | 2024-03-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

A new cohort of stocks may be emerging to steal the crown from the "Magnificent Seven," according to Evercore ISI. This basket of stocks includes several names from the Magnificent Seven — and could grow to bring in additional stocks, Mahaney said. Mahaney included Magnificent Seven members Amazon , Alphabet and Meta in his new Electric 11 lineup. On Monday , Morgan Stanley reiterated Meta at an overweight rating, while Goldman Sachs stood by its buy rating for Amazon. In February , Bank of America reiterated its buy rating on the name and lifted its price target to $91 from $78.

Persons: Mark Mahaney, Mahaney, Morgan Stanley, Meta, Goldman Sachs, Aaron Kessler, Uber Organizations: ISI, Seven, Research, Tesla, Meta, Amazon . Bank of America, Booking Holdings, Seaport Research, Bank of America Locations: China, Monday's

☆ The hollowing out of Vice and BuzzFeed marks the end of the digital media revolution
▼ + stars: | 2024-02-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The digital media revolution is over. Its two leaders, Vice Media and BuzzFeed , are in a frenetic retreat, surrendering much of their online empires as they try to protect what remains of their core assets. The demise of Vice Media as we know it is a particularly hard pill to swallow. Ahead of the announcement, the mood inside Vice Media was grim. Dixon said in his note that Vice Media had determined it was “no longer cost-effective” for the company to distribute its digital content on its own.

Persons: “, ”, they’re, I’m, Bruce Dixon, Benjamin Mullin, Dixon, Shane Smith Organizations: New York CNN, Vice Media, Media, Big Tech titans, Fortress Investment, Sports Locations: New York

☆ Why Monster Beverage is the best-performing stock of the last 30 years
▼ + stars: | 2024-02-17 | by ( Natalie Rice | ) www.cnbc.com time to read: +3 min

It's actually an energy drink company: Monster Beverage . Monster's stock has climbed for decades, along with sales, which have grown consistently for 31 years straight. Between Feb. 14, 1994, and Wednesday, Monster's stock appreciated by about 200,000%. Monster Beverage is a holding company composed of subsidiaries that produce and manufacture drinks including energy, alcohol, teas and coffees. The company attracted the attention of beverage giant Coca-Cola , which entered into a strategic partnership with the company now called Monster Beverage in 2015.

Persons: It's, Rodney Sacks, Hilton Schlosberg, Mark Astrachan, Sacks, Schlosberg, Monster, Nik Modi, Modi, Coke, Monster's, they've Organizations: Monster Beverage, South, Beverage, Energy, Natural Corporation, Capital Markets, Analysts, Nascar

☆ 23andMe is low on cash and its stock is worth pennies. The CEO wants another chance
▼ + stars: | 2024-02-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Just three years ago, DNA testing company 23andMe was the golden child of Wall Street and Silicon Valley. In 2018, 23andMe agreed to a five-year exclusive drug development partnership with GSK (formerly GlaxoSmithKline). Genetic testing company 23andMe, once valued at $6 billion, is facing the possibility of delisting from NASDAQ. Justin Sullivan/Getty ImagesSo far, the partnership between GSK and 23andMe has produced more than 50 new drug targets. But drug discovery is a very long process and it can be anywhere from 10 to 15 years on average from target discovery to an FDA-approved drug.

Persons: New York CNN —, 23andMe, Anne Wojcicki, ” Wojcicki, “, Susan Wojcicki, Sergey Brin, Kyle Grillot, Wojcicki, they’ve, ”, we’re, “ We’ve, Steven Mah, TD Cowen, Mah, they’re, Justin Sullivan Organizations: New, New York CNN, Nasdaq, CNN, Stanford, Palo Alto High School, YouTube, Google, 23andMe Inc, Bloomberg, Time Magazine, P Biotech ETF, GSK, GlaxoSmithKline, NASDAQ, Big Pharma, it’s Locations: New York, Silicon Valley, Los Angeles , California, U.S, London, Sunnyvale , California, United States

☆ S&P 500 futures gain after Meta, Amazon results as jobs report looms: Live updates
▼ + stars: | 2024-02-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

On the other hand, Dow Jones Industrial Average futures hovered near the flatline. The Dow Jones Industrial Average added 0.97%, while the S&P 500 and Nasdaq Composite respectively gained 1.25% and 1.3%. The action follows a Wednesday sell-off that started after Federal Reserve chair Jerome Powell indicated that a rate cut at the March meeting was unlikely. Economists polled by Dow Jones are calling for payrolls to have grown by 185,000 positions, and for the unemployment rate to inch higher to 3.8%. That compares to December's blowout of 216,000 positions added and an unemployment rate of 3.7%.

Persons: Jerome Powell, Art Hogan, It's, it's, Hogan, Dow Jones Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Meta, Facebook, Amazon, Apple, Dow Jones, Federal, Riley Wealth Management, CNBC, Chevron, Exxon Mobil, Myers Squibb Locations: China, mull, Bristol, Cigna

The credible data that exists on crimes motivated by conspiracy theories shows a disturbing increase. Many of those charged said they had bought into Trump’s conspiracy theories about a stolen election. “Lies, lies lies: They're lying to you over and over and over again,” said Steve Girard, a Pennsylvania man who has protested the incarceration of Jan. 6 defendants. While they may have taken on a bigger role in our politics, surveys show that belief in conspiracy theories hasn't changed much over the years, according to Joe Uscinski, a University of Miami professor and an expert on the history of conspiracy theories. Russia has amplified numerous anti-U.S. conspiracy theories, including ones claiming the U.S. runs secret germ warfare labs and created HIV as a bioweapon, as well as conspiracy theories accusing Ukraine of being a Nazi state.

Persons: ”, Nash, Melissa Sell, Sell, Elon Musk, There's, Evan Hansen, Wired.com, Musk, It’s, ” Hansen, Donald Trump, Trump, Mark Milley, Milley, Laws, Vince Lynch, Lynch, Danielle Citron, Sandy, —, Alex Jones, Sandy Hook, Hillary Clinton, chemtrails, “, hospitalizations, Robert Palmer, they're, Steve Girard, Jan, hasn't, Joe Uscinski, ” Uscinski, “ Jan, Tom Fishman Organizations: WASHINGTON, U.S ., United, Big Tech, Meta, Facebook, titans, Army, University of Maryland’s National Consortium, University of Virginia School of Law, Sandy Hook Elementary, CNN, FBI, Capitol, The Associated Press, Trump, University of Miami, Twitter, United States, U.S, . Locations: Maui, Chile, America, United States, Pennsylvania, U.S, Israel, Newtown , Connecticut, Florida, California, Wisconsin, Washington, Russia, China, Iran, Ukraine, Nazi

☆ These smaller stocks could see big gains in 2024, Bank of America says
▼ + stars: | 2024-01-30 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .

Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago

☆ Tech titans' AI funding frenzy: Here's what you need to know
▼ + stars: | 2024-01-26 | 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 EmailTech titans' AI funding frenzy: Here's what you need to knowCNBC's Deirdre Bosa joins 'The Exchange' to report on industry leaders raising funds for AI, sentiment around AI development, and more.

Persons: Deirdre Bosa Organizations: Email Tech titans

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe headset wars: Why it's Apple's to loseTwo tech titans are now duking it out in the headset wars. Apple's Vision Pro and Meta's Quests offer different price points, different specs, and most importantly, different visions of the future of virtual reality. And both have big hurdles to clear. This week on TechCheck, why the headset battle is Apple's to lose.

Persons: Apple's

☆ Tech titans turn to AI startups
▼ + stars: | 2024-01-26 | 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 EmailTech titans turn to AI startupsCNBC's Deirdre Bosa reports on the layoffs affecting the biggest tech companies and the investments they're making.

Persons: Deirdre Bosa Organizations: Email Tech titans

☆ Older tech titans outshining the Mag 7 with 'cash flow', says Douglas C. Lane's Sarat Sethi
▼ + stars: | 2024-01-25 | 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 EmailOlder tech titans outshining the Mag 7 with 'cash flow', says Douglas C. Lane's Sarat SethiHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Douglas C, Lane's Sarat Sethi, Brian Sullivan, “ Organizations: CNBC

☆ The S&P 500 just hit an all-time high – but many other US stocks are still in a bear market
▼ + stars: | 2024-01-22 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Read previewBlue-chip US stocks are trading at record levels – but small caps are still feeling the pain. That means the widely-followed gauge is technically still in a bear market, with high interest rates hammering lower-market-cap stocks even as AI powers the "Magnificent Seven" Big Tech titans to massive gains. "40% of Russell 2000 companies lose money, so these are companies that rely on credit to stay afloat." But the Russell 2000 is still in a bear market," he added. Economic bellwetherThe Russell 2000 isn't just a gauge of smaller-cap stock prices – it's also an economic bellwether.

Persons: —, Russell, they've, Ronald Temple, Lazard, Charles, Henry Monchau, That's, isn't, it's, JPMorgan Chase, Jamie Dimon, Steve Hanke, David Rosenberg, Hanke, Rosenberg, it'd Organizations: Service, Business, Big Tech titans, Federal Reserve, Facebook, Big Tech, Microsoft, Nvidia, Syz, LinkedIn, JPMorgan Locations: Swiss

☆ Don't worry — the machines won't be as smart as humans for a long time, because they've still got a lot to learn
▼ + stars: | 2024-01-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Much of today's most popular AI models, such as OpenAI's GPT-4, are trained on what's publicly available on the internet. It's worth noting that AI models exist today that are pretty effective at generating images, but these are text-to-image models, like Midjourney and Stable Diffusion. Koller also sees issues with today's LLMs. This isn't the first time doubts have been raised about the capacity of today's AI models. Steve Jennings/Getty Images for TechCrunchThis is not to say today's LLMs are useless.

Persons: —, OpenAI's ChatGPT, Bill Gates, Daphne Koller, MacArthur, Koller, Neilson Barnard, chatbots, Yann LeCun, –, today's LLMs, LLMs, that's, Kai, Fu Lee, Steve Jennings Organizations: Economic, Service, Big Tech titans, Google, Microsoft, Getty, Meta Locations: Davos, Switzerland, today's, silico

(PRO subscribers can view the official 2024 strategist survey here . ) "Lifting our 12-month S & P 500 target to 5100 as inflation falls, the Fed turns dovish, and real yields plunge," Kostin wrote. Other Wall Street firms with similarly bullish forecasts include Citigroup and BMO Capital Markets, which each have S & P 500 price targets of 5,100. Barclays' Venu Krishna was even more bearish, anticipating the S & P 500 would fall to 3,725. Entering the penultimate trading week of the year, the S & P 500 is almost 23% higher in 2023, while the Nasdaq Composite has advanced almost 42%.

Persons: —, Stocks, Sam Stovall, Monday, Stovall, Goldman Sachs, David Kostin, Kostin, John Stoltzfus, Stoltzfus, America's Savita Subramanian, JPMorgan's, Bujas, Morgan Stanley, BofA's Subramanian —, Venu Krishna, Oppenheimer's John Stoltzfus, Dow Industrials Organizations: CNBC, Federal Reserve, Dow Jones, CFRA Research, Goldman, Oppenheimer Asset Management, Citigroup, BMO Capital Markets, Bank, America's, Nvidia, Microsoft, Barclays, Nasdaq Locations: Friday's

☆ Here are the stocks — led by Microsoft — that matter most to hedge fund managers
▼ + stars: | 2023-11-22 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Many hedge funds have been skillfully navigating this year's market volatility. For investors seeking to follow the smart money, here are the stocks that mattered the most to these managers. VerityData analyzed 565 "fundamental" hedge funds that own between 10 and 300 positions each. The research firm then created a list of stocks that most frequently appear among the 10 largest holdings of those hedge funds. Other than Microsoft, the majority of the so-called " Magnificent Seven " mega-cap tech stocks — Amazon, Meta, Apple, Nvidia and Google's Alphabet — also made the list, VerityData said.

Persons: VerityData, Philippe Laffont's Coatue, Chase, Meta, Berkshire Hathaway Organizations: Microsoft, Philippe Laffont's Coatue Management, Tiger Global, Apple, Nvidia, JPMorgan, Berkshire

☆ Opinion | The OpenAI Coup Is Great for Microsoft. What Does It Mean for Us?
▼ + stars: | 2023-11-21 | by ( Julia Angwin | ) www.nytimes.com time to read: +1 min

There was the coup that hit the headlines: the OpenAI board’s abrupt ousting of its co-founder and chief executive, Sam Altman. Monday, it was announced that Microsoft was hiring Mr. Altman and another OpenAI co-founder, Greg Brockman. Microsoft had already invested more than $13 billion in OpenAI; its absorption of OpenAI leadership — and the likely hiring of hundreds of OpenAI staff members who signed a letter saying they would leave to join Microsoft unless the board resigned — effectively completes its takeover. OpenAI was founded in 2015 with the explicit mission of building an alternative to the for-profit A.I. It was established as a nonprofit, and its stated mission is to “ensure that artificial general intelligence benefits all of humanity.”

Persons: Sam Altman, Altman, Greg Brockman, —, OpenAI, ” Organizations: Microsoft Locations: OpenAI

☆ Goldman's hedge fund VIP portfolio is up 31% this year. These are the stocks on the list
▼ + stars: | 2023-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds' favorite stocks have crushed the broader market in 2023, returning 31%, thanks to mega-cap technology companies, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's "Hedge Fund VIP basket," consisting of 50 stocks that most frequently appear among hedge funds' 10 largest holdings. "From an implementation standpoint, the Hedge Fund VIP list represents a tool for investors seeking to 'follow the smart money' based on 13-F filings," Goldman said. "Mirroring the increasing concentration in the equity market, concentration in hedge fund portfolios has risen; the typical hedge fund holds 70% of its long portfolio in its top 10 positions," Goldman said. Goldman also noted that the overweight in mega-cap names lifted hedge fund exposure to "momentum stocks" to a near record.

Persons: Goldman Sachs, Goldman, — CNBC's Michael Bloom Organizations: Microsoft, Devices

☆ In ousting CEO Sam Altman, ChatGPT loses its best fundraiser
▼ + stars: | 2023-11-18 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +4 min

OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I. But on Friday it was the earnest Altman who was upended after OpenAI’s board, in a surprise move, stripped him of his CEO title and directorship. Directors of the company, now worth about $80 billion, cited a failure to be "consistently candid in his communications." Further details of what finally led to the ouster of Altman were not immediately clear Friday. “You and a small group of rebels get the space to solve an important problem that might otherwise not get solved."

Persons: Sam Altman, Elizabeth Frantz, Sam Altman’s, Altman, Elon Musk’s, “, what’s, ” Altman, Satya Nadella, OpenAI, ”, Greg Bensinger, Diane Craft Organizations: Privacy, Technology, Intelligence, REUTERS, Microsoft, Wednesday, Google, Stanford, Thomson Locations: Washington , U.S, OpenAI, San Francisco, St, Louis , Missouri

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