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☆ Tesla could have a tough time living up to the hype around its robotaxi event
▼ + stars: | 2024-09-28 | by ( Pia Singh | In | ) www.cnbc.com time to read: +8 min

The recent hype lifted Tesla's stock into positive territory for the year, and it's now up nearly 5% in 2024. A high-risk, high-reward venture Analysts polled by LSEG have a consensus price target of $210.71 on Tesla shares, implying a decline of 19% from Friday's close. "We believe widescale Tesla robotaxi deployment is unlikely in the coming years," Spak added. Still, the bull case around Tesla's robotaxi ambitions highlights the company's potential to provide cost-effective technology. Morgan Stanley analyst Adam Jonas is a Tesla bull with an overweight rating and a $310 price target — reflecting 19% upside.

Persons: it's, It's, Tesla, CFRA's Garrett Nelson, I've, Nelson, Bernstein, Nikhil Devnani, Joseph Spak, Spak, Tesla's, Elon, Bernstein's Devnani, Goldman Sachs, Mark Delaney, Morgan Stanley, Adam Jonas, Jonas, hasn't, CFRA's Nelson, Nelson's, Morgan Stanley's Jonas Organizations: Investors, Tesla, CNBC, LSEG, UBS, Guggenheim, Vehicle Passenger Service Locations: Los Angeles, U.S, Europe, China, Friday's, United States

☆ Nvidians, Metamates, Amazonians: These are the nicknames that tech workers call themselves
▼ + stars: | 2024-09-28 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Tech workers have some interesting nicknames. Go to newsletter preferences Thanks for signing up! AdvertisementThe tech industry is no stranger to corporate jargon and word salad. Fortunately some terms in the industry, specifically what its companies call their workers, are much more straightforward. AdvertisementFrom Metamates to Amazonians, here are popular nicknames for employees at various tech companies:

Persons: —, John Mulaney Organizations: . Tech, Service Locations: San Francisco, Amazonians

☆ 3 questions Elon Musk will need to answer at Tesla's highly anticipated robotaxi event
▼ + stars: | 2024-09-26 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

The event, originally scheduled for August, is where CEO Elon Musk has promised to release a final design and more detailed plans for Tesla's Uber-like self-driving car service. AdvertisementIn typical form, Musk's promise that the robotaxi business was taking shape offset a major earnings miss and juiced Tesla's languishing stock price. Spak wrote. In the same note, Spak raises questions about Tesla Full Self Driving (FSD)'s rate of improvement compared to competitors like Waymo. Advertisement"Tesla's future valuation is highly dependent on its ability to develop, manufacture, and commercialize autonomous technologies," Jonas wrote.

Persons: —, Elon Musk, Tesla's Uber, Musk, juiced, Joseph Spak, Spak, Tesla, Morgan Stanley, Adam Jonas's, Jonas, Tesla's FSD Organizations: Service, Business, Tesla, UBS, Hertz, California Locations: Tesla's, robotaxi, Los Angeles

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

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

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

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

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

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

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Walmart, Salesforce, Starbucks, Amazon & more
▼ + stars: | 2024-09-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Piper Sandler initiates Colgate-Palmolive and Church & Dwight as overweight Piper said both consumer products company offer an attractive risk/reward. Piper Sandler upgrades Salesforce to overweight from neutral Piper said it sees an attractive risk/reward for the stock. Bernstein reiterates Amazon as outperform Bernstein said advertising is "key to the bull case once again" for Amazon. Wedbush upgrades Comerica to outperform from neutral The firm added the regional bank to its best ideas list. " CFRA reiterates Nvidia as buy The firm says it sees Nvidia with "sustained compute demand" over the coming years.

Persons: Piper Sandler, Dwight, Piper, Baird, Jefferies, it's bullish, Raymond James reinstates Uber, Raymond James, Goldman Sachs, Goldman, KeyBanc, Morgan Stanley, immuno, Oppenheimer, Lowe's, Redburn, it's, Truist, Baird downgrades McKesson, Needham, Apple, Pinterest, Leerink, Guggenheim, Tesla, TSLA, Bernstein, CFRA Organizations: Colgate, Palmolive, Church, Jefferies, Starbucks, Avidity Biosciences, BP, Exxon, Costco, Walmart, Apple, GE Vernova, UBS, Citi, Mastercard, Visa, U.S, DOJ, Comerica, CMA, Nvidia

☆ Even millennials are getting too old to land a tech job
▼ + stars: | 2024-09-23 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +8 min

Newly released federal data shows the US tech workforce is younger than the workforce at large and getting younger still. Tech workers under 25 are becoming more common, while the proportion of workers older than 40 shrinks. There's an age-old perception that tech workers should be young so they can move fast and break things. One of the top qualifications to land a tech job, it seems, is to possess a birth certificate dated after 1990. Women make up just 22% of tech workers — the same proportion of jobs they held in 2005.

Persons: Z, Mark Zuckerberg, Maureen Clough, antiaging serums, Joanna Lahey, Lahey, ageism, John Zeman, Elon Musk, Zeman, John Rizzo, Rizzo, X, Daniel Jolles, Jolles, they're, Amanda Hoover Organizations: Tech, Commission, Texas, M University, Twitter, IBM, The London School of Economics, Business Locations: Silicon Valley, China

☆ Intel jumps after WSJ reports Qualcomm approached the struggling chipmaker about a deal
▼ + stars: | 2024-09-20 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

Qualcomm could sell parts of Intel to other buyers to get any deal done, the newspaper added. Intel mostly sells chips for PCs and data center servers, although Nvidia's GPUs have made serious inroads into this lucrative data center business. An "odd" fitSemianalysis chief analyst Dylan Patel said Qualcomm and Intel would be an "odd" fit. "Furthermore, Qualcomm has no ability to turn around the data center business, which is the most important one," he continued. The company's revenue has declined in recent years while rivals like Nvidia, TSMC, and Broadcom are riding the artificial intelligence wave to new heights.

Persons: —, Apple iPhones, Dylan Patel, Patel, Pat Gelsinger, Gelsinger Organizations: Service, Qualcomm, Intel, Wall Street, Business, Nvidia, Apple, Intel's Foundry, TSMC, Broadcom, Amazon Web Services, Gaudi, AMD, UXL, Google

☆ Nuclear fusion: The US led in this clean energy race for decades. Now China is in position to win
▼ + stars: | 2024-09-19 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +10 min

It’s also here, on an unassuming downtown street, a small start-up called Energy Singularity is working on something extraordinary: nuclear fusion energy. Nuclear fusion, the process that powers the sun and other stars, is painstakingly finicky to replicate on Earth. The Chinese government is pouring money into the venture, putting an estimated $1 billion to $1.5 billion annually into fusion, according to Jean Paul Allain, who leads the US Energy Department’s Office of Fusion Energy Sciences. The US was among the world’s first to move on the futuristic gambit, working on fusion research in earnest since the early 1950s. CNNThe US has been a fusion leader for decades; it was the first nation to apply fusion energy in the real world — in a hydrogen bomb.

Persons: It’s, Lam Yik Fei, Jean Paul Allain, Biden, “, it’s, ” Allain, Andrew Holland, Holland, ”, ” Holland, Damien Jemison, Lawrence, Melanie Windridge, Mikhail Maslov, Allain Organizations: CNN, 6G, Beijing outspends DC, New York Times, US Energy Department’s, Fusion Energy Sciences, Private, Nikkei . Energy, MIT, Fusion Industry Association, Princeton, Physics, American, America, Commonwealth Fusion Systems, ” CNN, China’s National Energy Administration, Lawrence Livermore National Laboratory, Fusion Energy, EAST, UK Atomic Energy Authority Locations: Shanghai, America, China, Beijing, Washington, DC, Japan, Europe, United States, Hefei, Xinhua, Massachusetts, Hiroshima, California, Lawrence Livermore

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ Meet the ex-Googler joining Goldman Sachs to build tech and optimize its investment banking and trading business
▼ + stars: | 2024-09-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

As the incoming global head of technology engineering for Goldman Sachs' global banking and markets division, the ex-Googler will run the engineering team for Goldman's investment banking and sales and trading units. And lots of different challenges in the space given how much is being invested in this particular business," Goldman told Business Insider, referring to efforts to build systems that can handle the firm's anticipated growth in a compliant and resilient way. Goldman Sachs' core business of advising companies through mergers, acquisitions, and raising capital, has come under the spotlight recently as investment-banking activity continues to be slow. AdvertisementWith an anticipated decline in trading volumes across Wall Street, Goldman's sales and trading business will continue to lean on technology to win market share among institutional investors. During her first stint at Goldman, she managed various tech teams and was named managing director in 2008.

Persons: Melissa Goldman, Goldman Sachs, Goldman, she's, couldn't, You've, I'm, I've Organizations: Service, Goldman, Google, JPMorgan, Wall, Big, Bank of America Locations: Wall, Bermuda, Big Tech

☆ FBI says it has disrupted major Chinese hacking operation that threatened US critical infrastructure
▼ + stars: | 2024-09-18 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

As of June, the botnet included over 260,000 hacked devices from all over the world, from North and South America to Australia, according to US officials. Those hacked devices ranged from webcams to DVRs to routers, and about half of them were located in the US, according to Wray. That Chinese hacking unit is preparing to “wreak havoc and cause real-world harm” to the US, Wray told Congress in January. Lumen researchers are watching for signs that the Chinese hackers will resurrect the botnet. A Chinese company named Integrity Technology Group managed the botnet for the last three years, according to US officials.

Persons: Christopher Wray, ” Wray, Wray, ”, “, Lumen, ” Danny Adamitis, Dakota Cary Organizations: CNN, FBI, Aspen Cyber, US, Embassy, Lumen Technologies, Lotus Labs, Integrity Technology Group Locations: Washington ,, Australia, Canada, New Zealand, United Kingdom, North, South America, Washington, China, Taiwan, California, United States, Dakota

☆ Meet the ex-Googler joining Goldman Sachs to build tech and cut costs for its investment banking and trading business
▼ + stars: | 2024-09-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

☆ US spy plane flies through the Taiwan Strait days after German warships angered China by sailing through
▼ + stars: | 2024-09-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewA US spy plane flew above the Taiwan Strait in international airspace, prompting a response from China. China's military reported that the American P-8A Poseidon maritime patrol aircraft's activity over the Taiwan Strait on Tuesday. Advertisement"The aircraft's transit of the Taiwan Strait demonstrates the United States' commitment to a free and open Indo-Pacific. China previously documented P-8A activity in the Taiwan Strait in April of this year, as well as December and October of last year. TED ALJIBE/AFP via Getty ImagesThe event comes on the heels of German Navy vessels transiting the Taiwan Strait last week for the first time in over 20 years.

Persons: — Organizations: Service, Command, Business, US, 7th Fleet, United, Eastern Theater Command, Navy, TED, Getty, Foreign Ministry, US Navy, Royal Australian Air Force Locations: Taiwan Strait, China, Taiwan, United States, Philippines, AFP, Hawaii

☆ ChatGPT maker says its new AI model can reason and think ‘much like a person’
▼ + stars: | 2024-09-13 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —OpenAI has unveiled a new artificial intelligence model that it says can “reason” and solve harder problems in science, coding and math than its predecessors. The model, the first in a series called OpenAI o1, was released Thursday as a preview, with the firm saying it expects regular updates and improvements. “We trained these models to spend more time thinking through problems before they respond, much like a person would,” the maker of ChatGPT said on its website. The new OpenAI model doesn’t yet have many of the features “that make ChatGPT useful,” the firm said, like browsing the web for information, and uploading files and images. In tests, OpenAI o1 performs similarly to PhD students on difficult benchmark tasks in physics, chemistry and biology, according to the company.

Persons: London CNN — OpenAI, “, ChatGPT, OpenAI, Noam Brown, ”, Sam Altman, Ruth Porat, Dario Amodei Organizations: London CNN, White House, OpenAI, Google, CNN, OpenAI o1, International

☆ The US is dismantling nuclear warheads to power next-gen reactors
▼ + stars: | 2024-09-09 | by ( Ella Nilsen | ) edition.cnn.com time to read: +8 min

This fuel is set to power the next generation of America’s nuclear reactors — small, modular power stations that are easier and cheaper to build. They require far less upkeep and physical space than the aging fleet of large nuclear power plants. “In order to meet our energy security needs and our climate goals, we do need significantly more nuclear energy deployed.”The nuclear power industry is increasingly looking to smaller reactors, which run on HALEU. The uranium for conventional reactors is enriched up to 5% and HALEU is uranium enriched between 5-20%. Highly enriched uranium is anything more than 20% and is used in weapons or naval submarines.

Persons: —, Michael Goff, Bill Gates, ”, Jeff Navin, “, hasn’t, Benjamin Rasmussen, Jeff Chamberlin, Goff, Dan Leistikow, Josh Jarrell, Leistikow, Centrus, TerraPower’s Navin, ” Navin Organizations: CNN, Manhattan Project, National Nuclear Security, US, Energy, of Nuclear Energy, Idaho National Laboratory, Department of Energy, New York Times, United, US Energy Department, Miller, Centrus Energy, Idaho National Laboratories, Idaho National Labs, Energy Department, DOE Locations: Oak Ridge , Tennessee, Oak Ridge, Tenneseee, United States, Russia, Ukraine, Idaho, Wyoming, Kemmerer , Wyoming, Congress

☆ Iranian hackers target WhatsApp accounts of Biden and Trump administration associates, Meta says
▼ + stars: | 2024-08-24 | by ( Jalen Beckford | ) edition.cnn.com time to read: +2 min

CNN —An Iranian hacker group targeted the WhatsApp accounts of individuals associated with the administrations of President Joe Biden and former President Donald Trump, Meta announced Friday. President Joe Biden and former President Donald Trump. Meta said its investigation linked the efforts to a group called “APT42,” known for using phishing tactics to steal credentials to people’s online accounts. Meta’s security team blocked a cluster of accounts posing as support agents for various tech companies, an activity it linked to APT42. CNN has reached out to both the White House and the Trump campaign for comment.

Persons: Joe Biden, Donald Trump, Biden, Trump, Kamala Harris, Roger Stone’s, Meta Organizations: CNN, Meta, Google, Biden, Democratic, Republican, Trump, Getty, FBI, White Locations: Iranian, Iran, Israel, Palestine, United States

☆ Gold is outperforming tech stocks this year, and investors should keep buying, BofA says
▼ + stars: | 2024-08-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bank of America strategist Michael Hartnett advises buying gold amid record-high prices. Gold's year-to-date rally of about 20% is outperforming US tech stocks. AdvertisementInvestors should buy gold even as the metal hovers around record-high prices, according to Bank of America investment strategist Michael Hartnett. AdvertisementHartnett noted that gold is the only asset that's outperforming US tech shares. AdvertisementThe juxtaposition of record-high gold prices and negative outflows is "explained only by unprecedented central bank buying," Hartnett said, adding China's central bank was the largest buyer of gold in 2023.

Persons: Michael Hartnett, Hartnett, —, haven't Organizations: of America, stoke, Service, Bank of America, Federal Reserve, 2nd

☆ Leaked Microsoft salary data shows the pay gap between Microsoft AI and the rest of the company
▼ + stars: | 2024-08-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The doc includes more than 500 submissions from people who identified themselves as Microsoft employees in the US. The move came in response to a growing number of its workers feeling underpaid compared to Microsoft's tech peers like Amazon . AdvertisementAs a reminder, this pay data is based on Microsoft employees' self-reporting, so it's not a complete picture. However, the pay gap between Microsoft AI and the rest of the company is undeniable. These are the 100 most-used AI apps, according to a top VC.

Persons: —, Chelsea Jia Feng, Insider's Ashley Stewart, Ashley, Satya Nadella, Drew Angerer, Mustafa Suleyman, it's, they're, Tyler Le, Jerome, Jerome Powell's, Goldman Sachs, Jamie Dimon's, Dimon, Ned Davis, Justin Sullivan, Andreessen Horowitz, Jenny Chang, Rodriguez, Jack, Jerome Powell, Sabrina Carpenter, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Microsoft, Business, Microsoft Microsoft, Getty, Bloomberg Creative, JPMorgan, Treasury, Ned Davis Research, Big Tech, RBC Capital Markets, Consumer, Engineers, BI Locations: Washington, New York, London

☆ Real Estate Status Symbol: New Home From Your Favorite Luxury Brand
▼ + stars: | 2024-08-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

This spring, the company unveiled plans for Pagani Residences, a 70-unit condo development in Miami's North Bay Village. Beyond automakers, there's a growing list of luxury brands hoping to use real estate to turn their cultural cachet into cold, hard cash. New York's five-star Sherry-Netherland Hotel began welcoming long-term residents almost a century ago, and since then roughly 700 branded residences have graced skylines around the world. But when it comes to branded residences, there are real selling points for buyers. The Elle project may seem out of left field, but Itani told me he's talking with another publication interested in making similar inroads.

Persons: carmaker Pagani, Pagani, Carlo Dipasquale, Aston Martin, Carbone, Gabbana, Elle, Sherry, we've, that's, Itani, Drake, Giorgio Armani, aren't, Brand, They're, they're, Laura Steinbruckner, Ferrari, Rob Sykes, WATG, hadn't, Cipriani, they've Organizations: Pagani Residences, Mercedes, Benz, Porsche, Bentley, Global, Condo, Brands, Carlton, Nobu, Peruvian, Armani Casa, South Florida —, Villa Miami, Major Food Group, Gabbana, Hilton, Fiat, Apple Locations: Bay, South Florida, Miami, Miami Beach, Dubai, London, New York, Netherland, Spain, Toronto, homebuilding, Plenty, Villa

☆ An M&A expert says creator-economy companies need to look beyond influencers to grow
▼ + stars: | 2024-08-12 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Instead, look at companies that sell tools for content creation that service a wider swath of users, Lambros told Business Insider. BI spoke to Lambros about the state of the creator economy and the firm's recent report on the industry. The creator economy needs to crack B2BCompanies should not rely on influencers to make it big. Publicly traded companies within the creator economy include Shopify, Eventbrite, Roblox, and Reddit. Private-equity firms, an increasingly common buyer in the startup space, still have some learning to do about the creator economy, he said.

Persons: —, John Lambros, Houlihan Lokey, They're, Lambros, upstarts, it's, Permira, That's Organizations: Service, Business, Fortune, Avid, Networks, Publicly, YouTube Locations: Lambros

☆ Disney showcases sequels at D23 as Jamie Lee Curtis and Lindsay Lohan present ‘Freakier Friday’
▼ + stars: | 2024-08-10 | by ( Megan Thomas | Dan Heching | ) edition.cnn.com time to read: +6 min

That was the obvious crowd sentiment at the D23 Disney Entertainment Showcase on Friday, where the company previewed its upcoming lineup of film and streaming comfort content. D23, for those unfamiliar with the biennial pilgrimage of Disney fans to Anaheim, California, is part cosplay convention, part promotional pep fest. It was as if Disney, borrowing a line from Russell Crowe in “Gladiator,” asked, “Are you not entertained?”Hard not to be. Walt Disney Studios and AnimationAuli'i Cravalho and Dwayne Johnson appear at the Disney Entertainment Showcase on August 9. He previewed “Dream Productions,” an “Inside Out” spinoff series, set in Riley’s mind in a time period between the two films, due to release on Disney+ next year.

Persons: ”, King ”, David Blaine, Lin Manuel Miranda, Russell Crowe, “, Dwayne Johnson, Jesse Grant, Disney Dwayne Jonnson, “ Maui’s, ” Johnson, Jamie Lee Curtis, Lindsay Lohan, ” Lohan, ” Curtis, Oscar, Barry Jenkins, Miranda, Lin, Manuel Miranda, Braelyn Rankins, Aaron Pierre, Kelvin Harrison Jr, Theo Somolu, Anika Noni Rose, Billy Eichner, Seth Rogen, Jim Cameron, ” Cameron, “ It’s, Zoe Saldana, Sam Worthington, Ginnifer Goodwin, ” Rachel Zegler, Gal Godot, Jeff Bridges, Jared Leto, Greta Lee, Ares, Disney Pixar Pete Docter, Docter, “ Elio, Marvel, America, Kevin Feige –, Ryan Reynolds, Marvel Jesus ”, –, Feige, Anthony Mackie, Harrison Ford’s Thaddeus ‘ Thunderbolt ’ Ross –, William Hurt –, Agatha All, Kathryn Hahn, Agatha Harkness, ” Hahn, Aubrey, Patti LuPone, Joe Locke, Okwui Okpokwasili, Ali Ahn, Agatha, Charlie Cox, Lucasfilm Grogu, Din Djarin, Pedro Pascal, Jude Law, Diego Luna, wunderkinds Jon Favreau, Dave Filoni, Yoda Organizations: CNN, Disney, Walt Disney Studios, Disney Entertainment, Pixar, Disney Pixar, Marvel Marvel, Marvel, “, Aubrey Plaza, Lucasfilm, Star Locations: Anaheim , California, “, Moana, New Zealand, “ WandaVision

☆ JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
▼ + stars: | 2024-08-09 | by ( Hugh Son | ) www.nbcnews.com time to read: +7 min

Rather than developing its own AI models, JPMorgan designed LLM Suite to be a portal that allows users to tap external large language models — the complex programs underpinning generative AI tools — and launched it with ChatGPT maker OpenAI’s LLM, said the people. ChatGPT banThe bank is giving employees what is essentially OpenAI’s ChatGPT in a JPMorgan-approved wrapper more than a year after it restricted employees from using ChatGPT. The number of uses for generative AI are “exponentially bigger” than previous technology because of how flexible LLMs are, Heitsenrether said. Ultimately, the generative AI field may develop into “five or six big foundational models” that dominate the market, she said. Heitsenrether charted out three stages for the evolution of generative AI at JPMorgan.

Persons: ” Teresa Heitsenrether, “, ChatGPT, Morgan Stanley, Jamie Dimon, Dimon, JPMorgan didn’t, Heitsenrether, ”, “ We’ve, ” Heitsenrether, it’s, — CNBC’s Leslie Picker Organizations: JPMorgan Chase, CNBC, JPMorgan, Apple, Accenture, Citigroup Locations: U.S

☆ Japanese yen carry trade: A very popular trading strategy just blew up in investors’ faces
▼ + stars: | 2024-08-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

When you hear commentators talking this week about the “yen carry trade” or the “great unwind,” they’re referring to a popular trading strategy that is, suddenly, blowing up in investors’ faces. The carry trade, explainedPut simply: A carry trade is when you borrow money in a place where interest rates are low and use it to invest elsewhere in assets that generate some kind of return. “That is bonkers.”The yen carry trade proved especially popular in the last four years, because Japan was the only major economy in the world offering essentially free money. The carry trade relies on borrowing, which means it’s a leveraged position. “The carry trade unwind… is somewhere between 50%-60% complete.”In other words: Buckle up, and don’t panic.

Persons: CNN Business ’, ”, John Authers, “, it’s, John Sedunov, Kit Juckes, ” Sedunov, Arindam Sandilya, JPMorgan Chase, Buckle Organizations: CNN Business, New York CNN, Wall, ” Bloomberg, Treasury, Villanova School of Business, Bank of Japan, Federal Reserve, Societe Generale, JPMorgan, Bloomberg Locations: New York, Japan, Europe

☆ The global 'carry trade' is unwinding. Here's why it's a brutal force crushing stocks worldwide.
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The unwind of the global yen "carry trade" is a force battering stocks. AdvertisementStocks plunged on Monday, and market pros say a lot of it has to do with the global unwind of the yen "carry trade." The carry trade refers to investors borrowing money at near-zero interest rates in Japan, and then redeploying that cash into higher-yielding assets around the world, such as stocks and bonds. "The selloff here is to a large extent attributable to the unwind of the so-called carry trade," Ed Yardeni told Yahoo Finance on Monday. AdvertisementThe unwind in the yen carry trade will go down as the biggest ever, according to a Monday note from Societe Generale.

Persons: —, Stocks, Ed Yardeni, that's, Yardeni, That's, Kit Juckes, Warren Buffett's, Juckes, It's Organizations: Service, Yahoo Finance, Bank of Japan, Federal, Bank of, Federal Reserve, Societe Generale Locations: Japan, Bank of Japan

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