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☆ 9 little-known growth stocks with exposure to AI or other transformative trends, according to a top-5% fund manager in the last 10 years
▼ + stars: | 2024-05-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Industry analysts think the AI revolution is still in its early stages, and longtime fund manager Chris Retzler agrees. But the market veteran believes small, under-the-radar growth stocks—not the well-known companies that have already surged — are the best way to play the AI boom. AdvertisementHow to invest in small caps — and where to find themSince 2008, Retzler has single-handedly managed the Needham Small Cap Growth Fund (NESGX). Plus, investors are overlooking small-cap stocks' exposure to key growth opportunities like AI, data center buildouts, military modernization, and telecommunication improvements, in Retzler's view. "Money doesn't go immediately to small caps — it goes to the next market cap, generally," Retzler said.

Persons: —, Chris Retzler, Retzler, he's, Morningstar, doesn't, Rogers, Lumentum, that's, Generac Organizations: Service, Nvidia, Business, Industry, Growth, MKS, Aspen Locations: ROG

☆ Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.

Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon

☆ Nvidia’s incredibly pricey shares are about to get much cheaper
▼ + stars: | 2024-05-22 | by ( Samantha Delouya | Clare Duffy | ) edition.cnn.com time to read: +3 min

CNN —Nvidia announced a 10-for-1 stock split on Wednesday, making buying shares in the red-hot semiconductor company more accessible for individual investors. Five years ago, an investor could have purchased Nvidia stock for less than $50 a share. Nvidia’s (NVDA) announcement, which came in its quarterly earnings report, means that each common share will be split into 10 smaller shares, effectively cutting the price of investing in the company. Nvidia shares rose as much as 4% in after-hours trading following the report. Still, some investors had raised questions ahead of Wednesday’s report about just how long Nvidia could keep the rally going.

Persons: Nvidia’s, ”, Thomas Monteiro Organizations: CNN, Nvidia, Microsoft Locations: China

☆ Blackstone is set to give workers a stake in the companies it buys
▼ + stars: | 2024-05-22 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Blackstone is set to grant shares to workers at the businesses it buys, The Wall Street Journal reported. It's set to award stock to employees at Copeland, which it bought last year for $14 billion. Other private equity giants including KKR and Apollo also offer equity to portfolio companies' staff. AdvertisementBlackstone is set to start granting stock to its portfolio companies' employees, The Wall Street Journal reported. The private equity giant's plans to give equity to workers at most of the large US-based businesses it buys are expected to be announced at a conference this week.

Persons: Blackstone, It's, — Organizations: Street Journal, KKR, Apollo, Service, Emerson Electric, Business Locations: Copeland

☆ Embattled AI firm Appen loses more executives, months after Alphabet cut ties
▼ + stars: | 2024-05-22 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Appen, the embattled artificial intelligence firm that once helped train AI models for tech giants including Microsoft , Nvidia and Google , has lost its executives in charge of revenue and marketing. The departures follow Alphabet 's announcement in January that it was cutting all contractual ties with Appen, which once helped train Google's chatbot and other AI products. Two weeks after that decision, Appen CEO Armughan Ahmad left after just 12 months on the job. After a "strategic review process," Alphabet notified Appen in January of the termination, which went into effect March 19, according to a filing from Appen. Companies are spending far more on processors from Nvidia and less on external AI training from companies like Appen.

Persons: Andrew Ettinger, Alicia Hale, Ryan Kolln, Google's, Armughan Ahmad, Appen's, Kolln, OpenAI's ChatGPT, Appen didn't Organizations: Microsoft, Nvidia, Google, CNBC, Apple, Amazon, Appen, Australian Securities Exchange Locations: Australian

☆ Wall Street advisors are flocking to this small law firm to claw back pay from wealth giants like Morgan Stanley and Merrill Lynch
▼ + stars: | 2024-05-21 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

For Ajamie LLP, a Houston law firm with 11 attorneys, taking on banks with billion-dollar war chests is becoming a booming business. This ruling was used by a lawyer on another case, Ohio-based Alan Rosca, to secure a $3 million judgment against Morgan Stanley on March 25. He said he has been contacted by advisors hailing from "really any financial firm that offers deferred compensation to financial advisors." During that suit, Ajamie was contacted by Matt Shafer, the lead plaintiff in the Morgan Stanley case. The Morgan Stanley suit inspired Kelly Milligan, now the named plaintiff in the Merrill Lynch class action, to reach out.

Persons: —, Jack Edwards, Edwards, Morgan Stanley, Morgan Stanley's, Alan Rosca, Merrill Lynch, Sen, Ted Cruz, Wells Fargo, Wells, Ajamie, Matt Shafer, Kelly Milligan, It's Organizations: Service, Ajamie LLP, Business, University of Virginia School of Law, Big Law, RBC Capital Markets, Financial Industry Regulatory Authority Locations: Houston, Ohio, Ajamie, Texas, Carolina

☆ Tech giants pledge AI safety commitments — including a ‘kill switch’ if they can’t mitigate risks
▼ + stars: | 2024-05-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

A slew of major tech companies including Microsoft , Amazon , and OpenAI, on Tuesday agreed to a landmark international agreement on artificial intelligence safety at the Seoul AI Safety Summit. The agreement will see companies from countries including the U.S., China, Canada, the U.K., France, South Korea, and the United Arab Emirates, make voluntary commitments to ensure the safe development of their most advanced AI models. In those sorts of extreme circumstances, companies say they will implement a "kill switch" that would see them cease development of their AI models if they can't guarantee mitigation of these risks. "It's a world first to have so many leading AI companies from so many different parts of the globe all agreeing to the same commitments on AI safety," Rishi Sunak, the U.K.'s prime minister, said in a statement Tuesday. "These commitments ensure the world's leading AI companies will provide transparency and accountability on their plans to develop safe AI," he added.

Persons: Rishi Sunak Organizations: Microsoft, Seoul AI Safety, United Arab Locations: Seoul, U.S, China, Canada, France, South Korea, United Arab Emirates

☆ Former Google employee says company's AI work is driven by 'a stone cold panic that they are getting left behind'
▼ + stars: | 2024-05-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewGoogle might be one of the biggest players in the AI space, but an employee says the tech giant's work in the field has been motivated by "stone cold panic." But Google, Jenson said, wasn't the only tech giant guilty of making this mistake. AdvertisementJenson's scathing assessment comes as tech giants like Google and Apple have been struggling to play catch-up with AI upstarts like OpenAI. AdvertisementWhen Google unveiled its new AI model Gemini 1.5 on February 15, OpenAI dropped its text-to-video model Sora just a few hours later. Last week, OpenAI debuted its new flagship AI model, GPT-4o, a day before Google announced various updates for their models.

Persons: —, Scott Jenson, Jenson, Tony Stark, who'd, Apple didn't, Siri, OpenAI, Sam Altman Organizations: Service, Google, Business, LinkedIn, Stanford, Android, Facebook, Apple, BI, New York Times, OpenAI, iOS, Bloomberg Locations: Siri, Cupertino

☆ Many drivers for Uber, Lyft, and DoorDash are earning well below minimum wage, even with tips, a new paper finds
▼ + stars: | 2024-05-21 | by ( Noah Sheidlower | Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Advertisement"Pay for gig drivers rarely exceeds the employee-equivalent local minimum wage," the authors wrote. While two-thirds of DoorDash drivers and just under half of Uber Eats drivers had their incomes adjusted, just 5% of Uber drivers did. The average Lyft, Uber Eats, and DoorDash driver had hourly earnings of $24, $18, and $14, respectively. Over the past year, several gig drivers have told BI that their gigs are less profitable than they used to be. For example, Uber and Lyft drivers have said the ride-hailing giants are taking a larger cut of rider fares.

Persons: —, Lyft, Uber, aren't, Gridwise Organizations: Service, Seattle metros, UC Berkeley Labor Center, Center for Wage, Dynamics, Business, metros —, UC Berkeley, Big Lake Data, Bank of America, Bank of America Institute Locations: Boston, Chicago, Los Angeles, San Francisco Bay, California, San Francisco, Seattle, New York City, Minnesota, Twin Cities, Massachusetts

Grayscale Investments announced that CEO Michael Sonnenshein stepped down on Monday, ending a 10-year run as the leader of the largest crypto asset manager. Under Sonnenshein, Grayscale played a key role in pushing the U.S. Securities and Exchange Commission to allow bitcoin ETFs. "The crypto asset class is at an important inflection point and this is the right moment for a smooth transition. In 2022, Grayscale launched a lawsuit against the SEC, after regulators turned down its bid to convert the investment vehicle into an exchange-traded fund. Michael Sonnenshein at the 2022 Forbes Iconoclast Summit at New York Historical Society on Nov. 3, 2022.

Persons: Michael Sonnenshein, Peter Mintzberg, Goldman Sachs, Edward McGee, Sonnenshein, Arturo Holmes Organizations: Investments, BlackRock, U.S . Securities, Exchange Commission, SEC, Fidelity, Forbes, Summit, New York Historical Society, Getty Locations: OppenheimerFunds

☆ Trump sought $1 billion from oil execs for his 2024 campaign in a deal worth $110 billion to energy giants, reports say
▼ + stars: | 2024-05-19 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Trump is alleged to have sought $1 billion from oil executives at Mar-a-Lago for his 2024 campaign. Oil companies risk losing $110 billion in tax breaks if Biden's budget is enacted, said The Guardian. 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 . This story is available exclusively to Business Insider subscribers.

Persons: Trump, —, Donald Trump Organizations: Mar, Guardian, Service, Washington Post, Democratic, Business

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEtsy boomed during the Pandemic. But now it's at a crossroads. E-commerce giant Etsy boomed during the pandemic, but less than four years later, its sales are declining, its stock has lost more than 70% of its value and missed earnings in 2023 and 2024 revealed other disappointing results. As the company looks to recapture growth, while competing with giants like Amazon and Ebay, it's unclear if there's a path to success. Unless as some sellers are demanding which is to double down on its original values.

Organizations: Ebay

☆ Media giants lean on sports as Hollywood strikes still loom over content slates
▼ + stars: | 2024-05-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Media giants relied on sports last year when they had to woo advertisers during the Upfronts meeting week at a time when a Hollywood strike and cost cutting bit into their content and star power. This year, while stars once again graced the stages following the end of the strikes, the presentations still leaned more on sports than scripted shows. The hangover from last year's work pause meant some media companies had fewer series and movies to highlight during their presentations. He noted two key issues for the traditional media companies: the decline of traditional TV and the increasing fees companies have to pay to air live sports. "If you're going to maintain a reduced level of content spending, by definition, that means your entertainment programming has to be reduced," Rogers said.

Persons: Brock Purdy, Tom Rogers, Rogers Organizations: San Francisco 49ers, Kansas City Chiefs0, Las Vegas , Nevada . Media, Hollywood, Disney, Warner Bros, Oorbit Gaming, Entertainment, NBC Cable Locations: Las Vegas , Nevada

☆ Khon in Bangkok: Inside Sala Chalermkrung Royal Theatre, passionate performers keep a masked art form alive
▼ + stars: | 2024-05-17 | by ( Karla Cripps | Kocha Olarn | ) edition.cnn.com time to read: +8 min

But one of the best places to experience an authentic Khon performance is Bangkok’s Sala Chalermkrung Royal Theatre. Among the performers tasked with playing that role at Sala Chalermkrung is 34-year-old Thanet Pakwisath, who has been practicing Khon for more than 20 years. “And I believe that other performers here at Sala Chalermkrung would have the same belief.”But like many of his colleagues, he fears for its fate. I want everyone to help – both Thai people and foreigners.”Sala Chalermkrung: A living museumBangkok’s Sala Chalermkrung Royal Theater has its own fascinating back story. But from the late 1970s, visitors to Sala Chalermkrung began to decline.

Persons: Ling ”, Khon, Sala, Apassara, khon, Karla Cripps, Hanuman, “, ”, “ Khon, Hanuman Thanet, Sala Charlermkrung, Mark Phillips, ” Sala, King Prajadhipok, Sala Chalermkrung Organizations: CNN, Bangkok CNN, Suvarnabhumi International, Heritage, Chalermkrung, Khon, Royal, Sala Chalermkrung, Sala Locations: Bangkok, Thailand, Khon, Thai, Sala, –, Sala Chalermkrung, Thanet, “, Charoenkrung, Phra Nakhon District

☆ BofA names 'Asia's most important stocks' — and analysts give one over 40% upside
▼ + stars: | 2024-05-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

BofA Securities has screened for 20 of Asia's "most important stocks," selected from the constituents of the MSCI Asia Pacific Index. Here are 10 stocks from the investment bank's list, which stand out for having substantial upside potential, according to FactSet's consensus price targets. This gives the stock upside potential of 42.0%. Analysts' target price on the stock is 103,211 Korean won ($76.61), or 32.0% potential upside, according to FactSet data. Their average target price is 233,378 Korean won, implying nearly 20.9% upside potential, FactSet data shows.

Persons: — CNBC's Michael Bloom Organizations: BofA Securities, MSCI, AIA Group, Hong, Samsung Electronics, SK Hynix, Korean Locations: Hong Kong, Korean

☆ Microsoft's Mistral partnership avoids merger probe by British regulators
▼ + stars: | 2024-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The U.K.'s Competition and Markets Authority cleared Microsoft's AI partnership with Mistral of regulatory concerns after previously inviting views on whether the arrangement qualified as a merger. Now, the regulator says it's no longer looking into Microsoft's investment in Mistral. It has given no update on its inquiries into the Amazon-Inflection deal and into Microsoft's hiring of employees from Inflection. Microsoft previously denied its deals with OpenAI and Mistral and hiring of employees from Inflection constituted mergers. Amazon has also said that its partnership with Anthropic represents a limited corporate investment, not a merger.

Persons: OpenAI Organizations: Markets, Mistral, CMA, Enterprise, CNBC, Microsoft, U.S, Anthropic Locations: French, U.S, Mistral

1s ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT ‘We Are Never Ever Getting Back Together’ (2012) 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT ‘We Are Never Ever Getting Back Together’ (2012) 5 ’24 ’06 10 THE BEATLES 5 ’63 ’70 10 TAYLOR SWIFT 5 ’24 ’06 Two bar charts: one for the Beatles, one for Taylor Swift. 30 15 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 ‘Thriller’ 15 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 ‘Thriller’ 15 ‘Fearless’ ‘1989’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 15 5 Not yet certified MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 15 5 Not yet certified MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT PLATINUM CERTIFICATIONS 30 30 million 15 15 million 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million ‘1989’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES 30 30 million 15 15 million ‘1989’ ‘1989 (Taylor’s Version)’ 5 MICHAEL JACKSON PLATINUM CERTIFICATIONS TAYLOR SWIFT ALBUM SALES A grid of 10 Michael Jackson albums covers transitions into charts depicting Michael Jackson’s and Taylor Swift’s album sales. 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES ‘... Baby One More Time’ 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES ‘1989’ 15 million 10 5 BRITNEY SPEARS ALBUM SALES TAYLOR SWIFT ALBUM SALES Two side-by-side charts depict album sales for Britney Spears and Taylor Swift. 1s ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 ‘Vogue’ (1990) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 ‘This Used To Be My Playground’(1992) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 10 5 ’06 ’24 10 ‘Music’ (2000) 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 10 5 ’82 ’12 TAYLOR SWIFT 10 5 ’06 ’24 Two charts show Billboard top hits for Madonna and Swift, over the course of their respective careers. 15 million 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million ‘I Am ... Sasha Fierce’ 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million 10 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES 15 million ‘The Tortured Poets Department’ 10 ‘Cowboy Carter’ 5 BEYONCE ALBUM SALES TAYLOR SWIFT ALBUM SALES Two side-by-side charts depict album sales for Beyoncé and Taylor Swift, respectively.

Persons: Taylor Swift, Michael Jackson, ”, Swift, Frank Sinatra, Stevie Wonder, Paul Simon, Drake, Billy Joel, Britney Spears, Bruce Springsteen, Elton John, Kareem, Brady, Marino, Harry Potter, TAYLOR, TAYLOR SWIFT, Swift’s, didn’t, Max Martin, John Lennon, Paul McCartney, McCartney, George Harrison, “, Taylor, Jackson, MICHAEL JACKSON, ’, Michael Jackson’s, …, “ Ben ”, —, Jackson’s, Micheal Jackson, It’s, she’s, Department ”, Spears, BRITNEY SPEARS, Spears’s, Madonna, Dick Tracy ”, Evita, I’m, David O, “ Ray, Bob Dylan, John, Springsteen, Elton John Farewell, Bruce Springsteen Springsteen, Elton John’s, Bruce Springsteen’s Springsteen, Madonna’s, it’s, Beyoncé, Georg Solti, Quincy Jones, It's, Madonna didn’t, Judy Garland, Barbra Streisand, Sinatra, — Beyoncé, Sasha Fierce, Carter ’, Carter ”, Cowboy Carter, DRAKE, Kendrick Lamar, they’re, gunning, she’ll Organizations: Poets Department, MetLife, Beatles, “, Marvel, Billboard, TAYLOR SWIFT, U.S, Swift, MTV, Recording Industry Association of America, Department, Vogue, Veterans Touring, Drake, Beyoncé, Beyoncé’s Locations: New Jersey, U.S, Kobe, ”, “, pigtails, Amsterdam, Texas

☆ TikTok is testing 60-minute videos, which could be a big threat to YouTube
▼ + stars: | 2024-05-17 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

TikTok is testing 60-minute video uploads, challenging YouTube's long-form content domain. TikTok has gradually increased its video length limits to 10 minutes for all users. Longer video uploads may shift viewership from streaming services like YouTube. AdvertisementTikTok is giving some users the option to upload 60-minute videos to the platform. The company told TechCrunch it does not immediately plan to roll out the 60-minute upload function widely.

Persons: TikTok, —, Matt Navarra Organizations: YouTube, Service, TechCrunch, Business

☆ 3 tricks legacy media companies can learn from social-video platforms, per a new Accenture report
▼ + stars: | 2024-05-16 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Read previewTraditional media and entertainment companies must undergo "radical levels of reinvention," John Peters, Accenture's lead for media and entertainment clients, told Business Insider. Traditional media companies, like live broadcasting or linear channels, are "seeing viewership migrate away from their platforms," Peters said. Advertisement"They're increasingly moving to social media and social video platforms and video games," Peters said. Here are three things that traditional media companies can learn from social media giants, per the Accenture report. AdvertisementPeters also pointed to events like the annual Academy Awards or live sports as opportunities for media companies to use UGC.

Persons: —, John Peters, Accenture's, Peters, Goldman Sachs, Nikki Mendonca, Mendonca, Elon Organizations: Service, Accenture, Business, Media Industry, Netflix, Hulu, WARC Media, Meta, Media, UGC, Apple, Google, Spotify, Disney Locations: North America, Europe, Asia, America

☆ Royal Caribbean and Norwegian have serious sustainable-food-supply-chain goals — here's how they compare
▼ + stars: | 2024-05-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Royal Caribbean Group and Norwegian Cruise Line Holdings aim to source their foods more sustainably. In 2023, the cruise giants Royal Caribbean Group and Norwegian Cruise Line Holdings accommodated more than 10.3 million travelers. Both companies have been increasingly shopping localBoth Norwegian and Royal Caribbean want to be net zero emissions by 2050. Royal Caribbean did not respond to an inquiry about its beef initiatives or plans to expand its plant-based offerings. That's not to mention all the heat that cruise companies already take for operating ships that are bad for the environment.

Persons: —, Brittany Chang, Linken D'Souza, Royal Caribbean's, Bambi Semroc, it's, Ravi Anupindi, Anupindi, Royal, Semroc Organizations: Royal Caribbean Group, Cruise Line Holdings, Chain Management, Service, Norwegian, Royal, Business, Royal Caribbean's, Conservation, University of Michigan's Ross School of Business, Marine Stewardship Council, Aquaculture, Council, Global Animal Partnership, Regent Seven Locations: buffets, Royal Caribbean, Europe, Seattle, Vancouver, Florida, California, New York City, Norwegian, Oceania

☆ AI chatbots spew out nonsense too often. But there's a solution: retrieval-augmented generation.
▼ + stars: | 2024-05-16 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +9 min

RAG was the first," said Bob van Luijt, the CEO and cofounder of the AI data infrastructure company Weaviate. WeaviateThe innovation that's sweeping AI"Every industry that has a lot of unstructured data can benefit from RAG," van Luijt said. Courtesy of Kyle DeSanaHe said that a successful RAG chatbot could carry its own pitfalls. AI engineers are eager to find more proactive solutions that don't require constant meddling with the data RAG provides to the AI. Put simply, an AI chatbot would have an effectively infinite memory, letting it "remember" any data presented to it in the past.

Persons: —, OpenAI's ChatGPT, RAG, Bob van Luijt, Bob, van Luijt, Nadaa, Taiyab, van Lujit, Van Lujit, that's, Kyle DeSana, DeSana, Weaviate, it's Organizations: Service, Nvidia, Companies, Google

☆ Giant oddball planet has the density of fluffy cotton candy, study finds
▼ + stars: | 2024-05-16 | by ( Leah Asmelash | ) edition.cnn.com time to read: +4 min

An international coalition of astronomers has newly discovered an unusual planet, dubbed WASP-193b, that’s about 50% bigger than Jupiter and somehow still the second lightest planet ever found. Because of how small the mass signal was, it took the team four years to gather data and calculate WASP-193b’s mass, Barkaoui explained. Eventually the team discovered the planet’s mass is a measly 14% that of Jupiter, despite being so much bigger. But a bigger size means a bigger “extended atmosphere,” said study coauthor Julien de Wit, an associate professor of planetary science at MIT. “WASP-193b is an outlier of all planets discovered to date,” he said.

Persons: puffy, Kepler, Jupiters, Khalid Barkaoui, James Webb, ”, Barkaoui, Francisco Pozuelos, Julien de Wit, Wit, Stone, puffy Jupiters, it’s Organizations: CNN, James Webb Space Telescope, Massachusetts Institute of Technology, WASP, Spain’s Institute of Astrophysics, MIT Locations: Andalucia

☆ Interest-rate cuts could be coming this fall, adding another wrinkle to an election set to focus on the economy
▼ + stars: | 2024-05-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, inflation is cooling just in time for a US presidential election that will likely focus heavily on the economy . This story is available exclusively to Business Insider subscribers. The big storyThe economy and the electionAnna Moneymaker/Getty, Anna Moneymaker/Getty, Tyler Le/BISometimes, the biggest surprise is when there isn't one at all. AdvertisementOn Wednesday, Biden and Trump agreed to face off in two debates, the first coming in June . Now he has 18 direct reports, according to an internal org chart seen by Business Insider.

Persons: —, Anna Moneymaker, Tyler Le, haven't, Insider's Madison Hoff, they're, Jennifer Sor, Ed Yardeni, Jerome Powell hasn't, Powell, Donald Trump, Joe Biden, Trump, Biden, Trump's, Alyssa Powell, Keith Gill's, Jim Simons, Shaw, Goldman Sachs, David Kostin, Sameer Samat, Sundar Pichai, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Biden, White, Democratic, Renaissance Technologies, Sigma, Bloomberg, Android, Google, Microsoft, Apple, Walmart Locations: New York, London

☆ Here's how big-name quants like Renaissance Technologies and D.E. Shaw performed in April despite choppy markets
▼ + stars: | 2024-05-15 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Funds like Renaissance Technologies, Two Sigma, and D.E. RenTech founder Jim Simons died last week; the billionaire stepped down as chairman in 2021. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe last full month of returns Renaissance Technologies delivered during its founder's life were strong. The quant giant's two largest funds for outside investors, Renaissance Institutional Equities Fund and Renaissance Institutional Diversified Alpha, did well in April, before the firm lost its founder, 86-year-old billionaire Jim Simons, on Friday.

Persons: Shaw, Jim Simons, —, Simons — Organizations: Renaissance Technologies, Sigma, Service, Renaissance Institutional, Fund, Alpha, Business

☆ News publishers sound alarm on Google’s new AI-infused search, warn of ‘catastrophic’ impacts
▼ + stars: | 2024-05-15 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

In other words, users will soon no longer have to click on the links displayed in search results to find the information they are seeking. Why spend time clicking on a link when Google has already scoured the internet and harvested the relevant information with its A.I.? Coffey, whose organization represents more than 2,000 news publishers and has taken an aggressive posture toward A.I. This time with a product that directly competes with our content, using our content to fuel it. Most recently, it drew scorn after temporarily blocking some California news outlets from search results in response to a bill that would force it to pay publishers.

Persons: —, ” Danielle Coffey, Coffey, newsrooms, OpenAI, ChatGPT, Mark Zuckerberg, “, we’ll, ” Marc McCollum Organizations: New York CNN, Google, News / Media Alliance, Big Tech, The New York Times Locations: New York, California

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