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☆ An OpenAI investor just published more than 10,300 words about the future of AI. We asked ChatGPT if it agreed.
▼ + stars: | 2024-09-23 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read preview69-year-old Vinod Khosla shared some bold predictions about the future of AI in a more than 10,300-word essay on Friday. The venture capitalist, whose firm Khosla Ventures invested $50 million into OpenAI in 2019, holds highly optimistic views about the future of AI. OpenAI's GPT O1 wasn't fully convincedInterestingly enough, OpenAI's most advanced AI yet didn't echo all of Khosla's predictions. It agreed with some, like AI's transformative potential in providing economic and societal benefits, democratizing access to healthcare and education, and enhancing creativity. AdvertisementBut it labeled some of Khosla's predictions about AI "overly optimistic," like AI performing 80% of tasks in 80% of jobs in the next 25 years.

Persons: —, Vinod Khosla, Khosla, OpenAI, ChatGPT, Vinod Khosla's Organizations: Service, Khosla Ventures, Business, O1 Locations: OpenAI

☆ Remote work could become a secret weapon in the battle for top talent
▼ + stars: | 2024-09-23 | by ( Nora Redmond | ) www.businessinsider.com time to read: +5 min

Read previewThe list of companies abandoning remote work is growing. But for some experts, remote work won't die either. "There's a big race for talent out there," she told Business Insider, adding that "attracting talent into a business is hard these days." For others, flexible work has become a game changer and one they can't see themselves looking back on. In contrast, other companies will continue to embrace the advantages of flexible work.

Persons: —, Andy Jassy, PwC, Goldman Sachs, Kate Palmer, Palmer, Daniel Wheatley, Wheatley, Jassy Organizations: Service, Amazon, Big, Business, Citigroup, HSBC, Barclays, JPMorgan, Peninsula, University of Birmingham

☆ Battery giant Northvolt to cut 25% of workforce in Sweden as part of a major cost-cutting drive
▼ + stars: | 2024-09-23 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Battery maker Northvolt on Monday announced plans to cut a total of 1,600 jobs in Sweden as part of a major cost-cutting drive. The strategic action requires Northvolt to reduce its global workforce by around 20% and a 25% reduction in Sweden, the firm said. Northvolt, which currently delivers batteries from its first gigafactory Northvolt Ett in Skellefteå, said in March that it had over 6,000 employees. The announced measures come as part of a broader strategic review and in response to what Northvolt described as "a challenging macroeconomic climate." Based in Stockholm, Sweden, Northvolt is one of Europe's most valuable privately-held tech firms that builds lithium-ion batteries for the electric vehicle industry.

Persons: Northvolt, Peter Carlsson, Carlsson, — CNBC's Ryan Browne Organizations: Office, Monday, Volkswagen, Volvo Locations: Northvolt, Sweden, Skellefteå, Stockholm

☆ U.S. billionaire Dan Friedkin agrees to buy EPL soccer club Everton
▼ + stars: | 2024-09-23 | by ( Matt Clinch | ) www.cnbc.com time to read: +2 min

Seamus Coleman of Everton gives the team instructions during the Premier League match between Everton FC and Burnley FC at Goodison Park on April 06, 2024 in Liverpool, England. LONDON — The investment group run by U.S. billionaire Dan Friedkin on Monday agreed to buy Everton F.C., potentially ending years of uncertainty for the struggling English Premier League soccer club. A spokesperson for The Friedkin Group, a privately held consortium of businesses with Chairman and CEO Dan Friedkin at the helm, said it was "pleased to have reached an agreement to become custodians of this iconic football club." Last season, it was docked points for breaching Premier League financial rules. Earlier this year, The Friedkin Group agreed a deal in principle to buy Everton but pulled out of talks when it failed to reach an agreement.

Persons: Seamus Coleman, Dan Friedkin, Friedkin, Farhad Moshiri ., Moshiri, —, John Textor Organizations: Everton, Premier League, Everton FC, Burnley FC, Goodison Park, Everton F.C, English Premier League soccer, Football Association, Authority, Bramley, Partners, Friedkin, Italian Serie, Roma, Forbes Locations: Liverpool, England, American, Italian

☆ Stocks making the biggest moves midday: Micron, Tesla, Ulta, Intel and more
▼ + stars: | 2024-09-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Micron Technology — Micron edged 2.7% higher after JPMorgan reiterated the stock as overweight ahead of the memory chipmaker's earnings, which are expected Wednesday after market close. Monday's gain put the stock on track for its biggest advance since Aug. 28, when it popped 9%. Ulta — The cosmetics stock lost more than 3% after a downgrade to hold from buy at TD Cowen. Biohaven — Shares surged 12% after the clinical-stage pharma company announced positive trial data for its drug treating spinocerebellar ataxia known as troriluzole. Intel — Shares of the struggling chipmaker climbed 2.4% after Bloomberg News reported on Sunday that Apollo Global Management proposed to make a multibillion-dollar investment in Intel.

Persons: Harlan Sur, General Motors, Bernstein, Cowen, troriluzole, Ciena, Jesse Pound, Alex Harring, Samantha Subin, Sean Conlon Organizations: Micron Technology, Micron, JPMorgan, Tesla, Barclays, U.S . Army, General, pharma, Intel —, Bloomberg, Apollo Global Management, Intel, CNBC, Qualcomm, Citi

☆ Janus Henderson’s Nick Cherney on tokenizing a fund instead of going the ETF route
▼ + stars: | 2024-09-23 | 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 EmailJanus Henderson’s Nick Cherney on tokenizing a fund instead of going the ETF routeNick Cherney, Head of Innovation at Janus Henderson Investors, joins CNBC’s Bob Pisani on ‘Halftime Report’ to discuss the firm’s new fund, how it could affect the ETF business and the advantages this could mean for the investor.

Persons: Janus, Nick Cherney, Janus Henderson, Bob Pisani Organizations: Janus, Janus Henderson Investors Locations: tokenizing

☆ Vinod Khosla says universal basic income may be needed as AI takes over jobs and drives wealth disparity
▼ + stars: | 2024-09-23 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

Read previewFamed Silicon Valley investor Vinod Khosla thinks artificial intelligence will be able to do 80% of the work of 80% of jobs. He understands concerns over the idea of handing out cash to people who are pushed out of jobs by AI. Khosla wrote that it might seem "impractical" because of economic constraints. Related storiesYet Khosla expects the breadth of gains from AI will gradually reduce the economic constraints that animate some criticisms of UBI. Yet interventions are needed to help those hurt by broadening income disparities, Khosla said.

Persons: —, Vinod Khosla, Khosla, Elon, Sam Altman, Pope Francis, haven't Organizations: Service, Sun Microsystems, Business Locations: OpenAI, Argentina, Venezuela

☆ CNBC Daily Open: Some aren’t convinced of a soft landing
▼ + stars: | 2024-09-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stephanie Keith | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In terms of financial markets, financial firm BTIG sees a possible pullback. Last week's burst of euphoria was mostly driven by anticipation and celebration of the Fed's rate cut. Markets this week will look at the hard data coming out, like GDP figures for the second quarter, consumer confidence and PCE report.

Persons: Stephanie Keith, It's, Piper Sandler, Nancy Lazar, Lazar, BTIG, Jonathan Krinsky, –, Alex Harring, Hakyung Kim, Brian Evans Organizations: New York Stock Exchange, CNBC, Friday, FedEx, Nasdaq, Dow Locations: New York City

☆ Microsoft downgraded on fear its AI lead over Amazon and Google is gone
▼ + stars: | 2024-09-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Analyst Gil Luria maintained his price target of $475, which is approximately 9% higher than where Microsoft stock closed on Friday. In particular, Amazon Web Services and Google Cloud Platform appear to pose the biggest threats to Microsoft's Azure cloud computing platform. But Amazon Web Services is now adding nearly as much cloud business, while Google Cloud Platform's current acceleration is comparable to that of Azure's last-quarter growth rates. "While Microsoft has discussed its Maia chips, it is years behind Amazon and Google and appears to be using them only to run Azure OpenAI Services workloads. We believe this means Microsoft has been escalating an arms race it may not be able to win."

Persons: D.A, Davidson, Gil Luria, Luria, Maia Organizations: Microsoft, Amazon Web Services, Google, Services, Amazon, OpenAI Locations: OpenAI

☆ Sam Altman is joining forces with design guru Jony Ive and Steve Jobs' widow to build a new AI device company
▼ + stars: | 2024-09-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI CEO Sam Altman is working on a new AI device startup with former Apple design chief Jony Ive and Laurene Powell Jobs, the widow of the late Apple founder Steve Jobs. Marc Newson, who cofounded LoveFrom with Ive, told The Times that they were still figuring out the product and its release date. Advertisement"I'm interested in this topic, I think it is possible," Altman told The Journal's tech columnist Joanna Stern at the event. Notably, Altman told Stern in October 2023 that he didn't think AI devices would eclipse smartphones. Related storiesFormer Apple employees Imran Chaudhri and Bethany Bongiorno cofounded their own AI startup, Humane in 2019 and launched their first product, the Ai Pin in November.

Persons: —, Sam Altman, Jony, Laurene Powell Jobs, Steve Jobs, Brian Chesky, Altman, Airbnb, Emerson, Powell Jobs, Marc Newson, Joanna Stern, Stern, Imran Chaudhri, Bethany Bongiorno, Zoz Organizations: Service, Apple, The, The New York Times, The Times, Business, Apple Watch, Times, Bloomberg, Humane, Emerson, Business Insider Locations: OpenAI

☆ Here's where to invest $1 million, according to the pros
▼ + stars: | 2024-09-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

If you had as much as a spare $1 million to invest right now, what should you buy? Balanced-to-medium risk profile With as much as $1 million to invest with, investors can buy individual securities instead of being restricted to funds, said David Dietze, managing principal and senior portfolio strategist at Peapack Private Wealth Management. "A much smaller amount leaves an investor forced to invest in funds to get adequate diversification. With one million, one could say invest $20K in fifty different stocks and be well diversified," he said. More aggressive risk profile Gambles says that taking on a more aggressive stance would mean an "all in commitment" on the themes he expects will perform, and removing any hedges against those trades.

Persons: Paul Gambles, David Dietze, Dietze, Bristol Myers, Gambles Organizations: U.S . Federal Reserve, CNBC Pro, Family, Yen, Wealth Management, Bristol, BHP Group, Hershey, BHP Locations: China, Australian

☆ A millennial left his job to start a consulting business and booked $400k in revenue in the first year. He shares his advice on launching a startup.
▼ + stars: | 2024-09-23 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

Read previewMario Vasquez Zuniga, 29, got a taste of entrepreneurship three years before he launched his own business. In 2023, Vasquez Zuniga quit his job and cofounded Collective, a consulting firm, with former colleague Thea Appling. Vasquez Zuniga is a first-generation college graduate who earned his degree from San Francisco State University in 2016. Vasquez Zuniga has another advantage: He's a native Spanish speaker, and he said nearly all of the people he works with are bilingual. Vasquez Zuniga added that setting milestones is also key for new entrepreneurs.

Persons: —, Mario Vasquez Zuniga, Vasquez Zuniga, Thea Appling, " Vasquez Zuniga, who's, undervalue, they've, hasn't Organizations: Service, Lucas Public Affairs, Business, Treasury Department, Bureau of Labor Statistics, San Francisco State University, Small Business Administration, CPA, Sacramento Valley Small Business Development Center, Immigrants Locations: Palmdale , California, Sacramento, El Salvador, Spanish

☆ This Wall St CEO is still trumpeting the benefits of WFH
▼ + stars: | 2024-09-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Read previewWork-from-home is working for one top Wall Street firm. AdvertisementThat's resulted in a host of benefits for the firm's workers, Orszag said, adding that he believed WFH allowed its bankers to retain a sense of "agency." Tracy Farr, a Lazard managing director, also praised the benefits of the firm's hybrid policy in a LinkedIn post. Advertisement"Our hybrid work policy has been a game changer. Many other big Wall Street firms have pushed back on the work-from-home movement.

Persons: —, Peter Orszag, Lazard, Orszag, WFH, Tracy Farr, Farr, I've, Goldman Sachs Organizations: Service, Wall, Business, Lazard's New, Bloomberg, JPMorgan Locations: Lazard's, Lazard's New York

☆ Elon Musk’s X to comply with Brazil court orders after U-turn
▼ + stars: | 2024-09-23 | by ( ) edition.cnn.com time to read: +2 min

The Brazilian Supreme Court asked the social media platform Saturday to present documents validating its new legal representative in the country. X was shut down in Brazil in late August after it did not comply with orders from the top court related to hate speech moderation on the platform. X lawyers said late Friday that the platform had named a legal representative in Brazil, addressing a key demand imposed by the court. X had a legal representative in Brazil until mid-August, when it decided to close its offices and fire its local staff. It was not immediately clear which were the accounts X has been ordered to block, as the probe is confidential.

Persons: Elon Musk’s, Alexandre de Moraes, Rachel de Oliveira Conceicao, Musk, Moraes, X Organizations: Brazilian, Court Locations: Brazil

☆ Republicans are defying Trump's demand to force a government shutdown before the election
▼ + stars: | 2024-09-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Yet Johnson, and any other Republican who votes for this bill, will be quietly defying Trump's wishes just weeks before the 2024 election. In essence, Trump asked Republicans to threaten a government shutdown over the provision. Yet when the continuing resolution with the SAVE Act came up for a vote last week, it failed, with 14 Republicans voting against it. Many Republicans simply don't want to have this fight right nowDespite Trump's push, Republicans on Capitol Hill understand that actually following his lead would be reckless. It's certainly possible that most Republicans will vote against Johnson's new government funding bill.

Persons: —, Mike Johnson, Donald Trump, Johnson, Trump's, Trump, Mitch McConnell, It's, isn't, Joe Biden's Organizations: Service, Business, Republican, Republicans, Capitol, Social, SAVE Locations: It's

☆ I love being a middle manager. Amazon's decision to cut middle managers saddens me — this role is misunderstood.
▼ + stars: | 2024-09-23 | by ( Elle Hardy | ) www.businessinsider.com time to read: +5 min

I landed my current role in PR middle management through a Facebook mentoring groupThe CEO, Tiffany Joy Murchison, led a session I joined and asked the class what we wanted to discuss. In middle management, there's an adjustment phase where you adapt to established procedures. AdvertisementI think many middle managers feel undervalued because it's not a lane many want to be in. Amazon's recent announcement that they're cutting down on middle managers saddens me. Middle managers are crucial in bridging communication between executives and staff, ensuring operations run smoothly.

Persons: —, Michelle Busch, I've, Tiffany Joy Murchison, We'll, we're, Lauryn Haas Organizations: Service, Business, TJM, Media, lhaas Locations: Washington ,, Brooklyn , New York, New York

☆ The Max-Hulu-Disney+ bundle seems to be off to a strong start
▼ + stars: | 2024-09-23 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Discovery teamed up with Disney to create an anticipated Max-Hulu-Disney+ bundle, which launched in late July for $17 per month. AdvertisementThere were less than 2 million net streaming subscribers additions in the US in Q2, according to Antenna. In August, Hulu's cancellation rate rose to its highest level since January, and Max's churn rate jumped to its highest mark since November. AdvertisementWhen taken in the context of Antenna's other data, it looks like some Hulu and Max customers are canceling their subscriptions so they can subscribe to the Max-Hulu-Disney+ bundle without paying twice. The Max-Hulu-Disney+ bundle is one of several streaming packages that media giants have conjured up.

Persons: —, Max each, Peacock, Max, it's Organizations: Service, Warner Bros, Discovery, Disney, Hulu, Business, Paramount, WBD, Comcast, Netflix, Apple, ESPN

☆ One stock being targeted by a value-investing legend in a market he says has gotten too top-heavy
▼ + stars: | 2024-09-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Value-investing legend Bill Nygren says the S&P 500 lacks the diversification it once had. Nygren mentioned Corebridge Financial as a top pick that checks all his boxes. AdvertisementThe S&P 500 isn't as risk-free as investors might think, says Oakmark Funds' Bill Nygren, who lamented the S&P 500's growing lack of diversification. "It's become so important to us that we invest with companies that are taking matters into their own hands and using excess capital to repurchase their own stock," Nygren told the outlet on Monday. One stock he pinpointed that fits the bill is Corebridge Financial.

Persons: Bill Nygren, Nygren, —, CNBC he's, It's Organizations: Service, CNBC

☆ Retail stocks typically beat the market after Fed cuts rates. Telsey gives top ways to play
▼ + stars: | 2024-09-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Fed rates not only set short-term borrowing costs for banks, but they also help determine mortgage, auto loan and credit card rates. According to the firm, shares of a few major discount retailers should outperform if middle-income consumers see higher levels of disposable income. Shares of Home Depot and Lowe's are up roughly 12.9% and 17.2% this year, respectively, as the prospect of lower interest rates boosts consumer sentiment. Tech products seller Best Buy could also get a boost from improved middle-income consumer sentiment, Telsey forecasts. If the rate-cutting cycle boosts sentiment among higher-end consumers, Telsey expects consumer retail names such as Williams-Sonoma and German sandal company Birkenstock to outperform.

Persons: Dana Telsey, Telsey Organizations: Federal Reserve, Fed, Walmart, Dollar, Holdings, Tech, Williams, LSEG Locations: U.S, Sonoma, German

☆ Australia's REA sweetens takeover offer for Britain's Rightmove to $8.1 billion
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: +1 min

Australian property listing firm REA Group has made a third pitch to buy British rival Rightmove with a new 6.1 billion pound ($8.12 billion) offer on Monday after its two previous offers were rejected. The latest offer consists of 341 pence in cash and 0.0422 new REA shares giving Rightmove an implied value of 770 pence per share. Rightmove did not immediately respond to a request for comment on the new non-binding bid outside normal U.K. business hours. The REA offer put forward on Monday is higher than the initial offer of 705 pence per share, or 5.6 billion pounds, and the second proposal of 749 pence per share. REA said it had not had any "substantive engagement" with Rightmove, except for the rejections, and that it remained ready to engage immediately with the Rightmove board.

Persons: REA, Rightmove Organizations: REA, Rupert Murdoch's News Corp

☆ Employees angry about RTO mandates have essentially no legal path to fight them
▼ + stars: | 2024-09-23 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

Your boss says the company does not plan to require employees to return to the office. Some workers have filed lawsuits against their companies or charges with the National Labor Relations Board over RTO mandates. AdvertisementBut remote employees who simply argue that returning to the office is an inconvenience to their lifestyle have "zero chance" to fight the RTO mandate with legal action, Zambrano said. AdvertisementHowever, said Camacho Moran, just because an employee has an illness or a disability "does not mean that remote work is the appropriate accommodation." Reasonable accommodations under the ADA can include modifying a work schedule or workplace setting, as well as moving to remote work.

Persons: —, Ron Zambrano, Zambrano, Domenique Camacho Moran, Farrell Fritz, Camacho Moran, " Zambrano, it's Organizations: Service, Business, Trial, Amazon, Walmart, National Labor Relations Board Locations: California, Seattle, New York

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Pinterest, Palantir, Microsoft, Nike, Meta & more
▼ + stars: | 2024-09-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are initiating coverage of enterprise planning and 'Office of the CFO' software provider OneStream (OS) with an Outperform rating and $38 target price." Deutsche Bank initiates Pinterest at buy Deutsche called Pinterest an "under-monetized, scaled, increasingly personalized 'digital catalog' that attracts an affluent, high purchase-intent user base." "We initiate coverage of Pinterest, Inc. with a Buy Rating and a $43 Price Target." "We initiate coverage on FLUT with a Buy Rating and $270 PT." JPMorgan adds Nike to negative catalyst watch list The bank is sticking with its neutral rating but is negative heading into earnings on October 1 for Nike.

Persons: Bernstein, it's bullish, Morgan Stanley, Piper Sandler, Piper, TD Cowen downgrades, Cowen, Goldman Sachs, Goldman, Raymond James downgrades Palantir, Raymond James, Dr Pepper, Wells, Tesla, it's, bullish, Coreweave, Davidson, Needham, Truist Organizations: Nvidia, Citi, Meta, Facebook, Apple, BMO, Bank of America, underperform Bank of America, Holding AG, Citigroup, Deutsche Bank, Deutsche, Barclays, Bank, New York Mellon, Bank of New York Mellon, Motors, Microsoft, Needham, JPMorgan, Nike, Technology Locations: North America

Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.

Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI

☆ CNBC Daily Open: Recession concerns still linger
▼ + stars: | 2024-09-23 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Brendan McDermid | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In terms of financial markets, financial firm BTIG sees a possible pullback. Last week's burst of euphoria was mostly driven by anticipation and celebration of the Fed's rate cut. Markets this week will look at the hard data coming out, like the preliminary measure of PMI, consumer confidence and PCE report.

Persons: QCOM, Brendan McDermid, It's, Piper Sandler, Nancy Lazar, Lazar, BTIG, Jonathan Krinsky, –, Alex Harring, Hakyung Kim, Brian Evans Organizations: New York Stock Exchange, Reuters, CNBC, Friday, FedEx, Nasdaq, Dow, PMI Locations: New York City, U.S

☆ Pa. health system agrees to $65 million settlement after hackers leaked nude photos of cancer patients
▼ + stars: | 2024-09-23 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

CNN —A Pennsylvania health care system this month agreed to pay $65 million to victims of a February 2023 ransomware attack after hackers posted nude photos of cancer patients online, according to the victims’ lawyers. Eighty percent of the $65-million settlement is set aside for victims whose nude photos were published online. The ransomware attack “was limited to the network supporting one physician practice located in Lackawanna County,” the Lehigh statement continued. A February ransomware attack on a major health insurance billing firm cut off health providers from billions of dollars and put some health clinics on the brink of bankruptcy. A full-scale ransomware attack on a health care provider has many costs aside from potential lawsuits, from rebuilding computer systems to retaining legal counsel, Henderson said.

Persons: Saltz Mongeluzzi, ”, Carter Groome, ” Groome, “, Max Henderson, Henderson Organizations: CNN, Health, Lehigh Valley Health Network, Lehigh, Biden Locations: Pennsylvania, Lehigh, Lackawanna County

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