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☆ Inside the AI talent-hiring frenzy
▼ + stars: | 2024-03-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe fight to hire the best AI talent is heating up as companies large and small compete in the race to create the best products in the booming sector. Last week, Mustafa Suleyman, the cofounder of Google's DeepMind, left his startup Inflection AI to lead tech giant Microsoft's consumer AI division as CEO. "AI talents are some of the most highly compensated in today's job market," Alex Libre, the cofounder and principal recruiter of Einstellen Talent, a service that matches job candidates with generative AI startups, told BI. Related stories"There is undoubtedly a shortage in AI talent," Libre says.

Persons: —, Mustafa Suleyman, Google's DeepMind, Aravind Srinivas, pricey, Sam Altman's, OpenAI, Salesforce, J.T, O'Donnell, Alex Libre, He's, They're, Ray, Flavien, Coronini Organizations: Service, Meta, Business, Big Tech, Companies, Tech, Libre, Big, . Workers, Microsoft

☆ Companies Are Luring Investors by Exaggerating What Their AI Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The Securities and Exchange Commission's chair, Gary Gensler, recently warned about "AI washing," or companies giving off a false impression that they're using AI so they can amp up investors. And while some companies are simply exaggerating the tech they do legitimately use, others have taken it a step further. Most companies aren't being accused of breaking the law with their AI chatter, but they're definitely posturing around it. An analysis from Goldman Sachs found that 36% of S&P 500 companies mentioned AI in their fourth-quarter earnings calls, a record high. Even the Big Tech companies that are really moving and shaking in AI are on shifty ground at times.

Persons: Gary Gensler, Delphia, Goldman Sachs, Scott Kessler, Elon Musk, Adolf Hitler, it's, ChatGPT, Daron Acemoglu, Sam Altman, Ed Zitron, he's, It's, overselling, Angelo Zino, Microsoft's, Zino, Acemoglu, Emily Stewart Organizations: Securities, Exchange, SEC, Woodstock, Third, MIT, Prosperity, Nvidia, AMD, Broadcom, CFRA Research, Big Tech, Tech, Microsoft, Business Locations: San Jose , California

☆ The Age of AI BS: Companies Are Exaggerating What Their Tech Can Do
▼ + stars: | 2024-03-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

☆ Big changes could be coming to the way we pay for things
▼ + stars: | 2024-03-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're examining how a change in credit cards' behind-the-scenes fees impacts you… and your points . Under the settlement, merchants could charge customers more for using different cards despite being part of the same Visa or Mastercard network. AdvertisementTim Boyle/Getty Images; Jenny Chang-Rodriguez/BIThe agreement could ultimately reshape how consumers pay for things. AdvertisementPerhaps that's why one analyst told Business Insider's Alex Bitter he doesn't expect major retailers to pass swipe fees along to customers. But maybe, not unlike the fees the agreement targets, what seems small could eventually add up to something big.

Persons: —, Jenny Chang, Rodriguez, Insider's Grace Eliza Goodwin, Tim Boyle, David Morris, Alex Bitter, LUDOVIC MARIN, BlackRock's Larry Fink, Jeremy Grantham, Ian Shepherdson, That'll, We've, Meta, Mark Zuckerberg, Facebook execs, Francis Key Scott, Hunter Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Nickelodeon, Business, Mastercard, Visa, Getty, Fed, Amazon, BI Locations: Europe, LUDOVIC, Baltimore, Port, New York, London

The companies announced an initial $1.25 billion investment in September, and said at the time that Amazon would invest up to $4 billion. The deal was struck at the AI startup's last valuation, which was $18.4 billion, according to a source. Over the past year, Anthropic closed five different funding deals worth about $7.3 billion — and with the new Amazon investment, the total exceeds $10 billion. News of the Amazon investment comes weeks after Anthropic debuted Claude 3, its newest suite of AI models that it says are its fastest and most powerful yet. But multimodality, and increasingly complex AI models, also lead to more potential risks.

Persons: Claude, Anthropic, OpenAI's, what's, Swami Sivasubramanian, OpenAI's ChatGPT, OpenAI, Microsoft's OpenAI, Anthropic's Claude, Daniela Amodei, We've, Tesla, Brendan Burke, Bill Gurley, Gurley, Microsoft's, Lina Khan Organizations: Amazon, Google, CNBC, Fortune, Nvidia, Microsoft, Apple, U.S . Federal Trade Commission Locations: San Francisco, Anthropic, OpenAI

A settlement that could scramble the credit card businessA long-running fight between the credit card giants Visa and Mastercard and retailers in the United States is nearing an end, with the promise of lower fees for merchants. But the proposed class-action settlement could have wider consequences, including for the lucrative business of high-end credit cards — and for retailers. What’s in the settlement: Visa and Mastercard said on Tuesday that they had agreed to reduce swipe fees, costs associated with the use of a credit card, for about five years. Perhaps more important, merchants will be able to raise their prices based on the kind of card. For example, buying groceries with a higher-fee card — typically a premium card like the Chase Sapphire Reserve — could become more expensive than paying with a lower-end one.

Organizations: Visa, Mastercard, Chase Locations: United States

☆ Can Xerox’s PARC, a Silicon Valley Icon, Find New Life with SRI?
▼ + stars: | 2024-03-26 | by ( John Markoff | ) www.nytimes.com time to read: +12 min

Can Xerox’s PARC, a Silicon Valley Icon, Find New Life with SRI? 1974 A key part of PARC office of the future vision is a network to tie office systems together. The PARC laboratory, set in the foothills just south of Stanford, is now largely empty, hosting less than 100 researchers, far from a peak of almost 400. Mr. Parekh said that the stage was now set for a second leap forward in the way humans interacted with computers. “This is our annuity for the future for investing in research,” Mr. Parekh said.

Persons: Steve Jobs, Jobs, Apple’s Lisa, IBM’s Thomas J, “, ”, Eric Schmidt, Google’s, Bernardo Huberman, Mr, Huberman, Douglas Engelbart, Siri, Bill Duvall, Charley Kline, CALO, David Parekh, Parekh, SIRI, Curtis Carlson, Charles Simonyi, Jan Vandenbrande, Research Jan Vandenbrande, Johan De Kleer, San Organizations: Xerox’s PARC, SRI, Palo, Palo Alto Research, PARC, Mr, Xerox, SRI International, Stanford Research Institute, Xerox Dover, Xerox Corporation, T’s Bell Laboratories, Watson Research Center, Bay, “ PARC, of America, Machine, UCLA, Pentagon, Apple, Macintosh, Research Projects Agency, Microsoft, Windows, Defense Advanced Research Projects Agency, Research Locations: Palo Alto, Stanford’sy, Stanford, Silicon, Menlo Park, Los Angeles, Calif, San Francisco, San Jose

☆ My Apple Vision Pro nightmare
▼ + stars: | 2024-03-26 | by ( Albert Fox Cahn | ) www.businessinsider.com time to read: +12 min

So when the Apple Vision Pro arrived, I was giddy with excitement to dive into the type of toy I'd dreamt of since childhood. The Vision Pro tries to answer the question of how you can use a computer without a mouse or keyboard. Apple Vision Pro marks the foundation of a new architecture of total digital isolation. Apple touted your ability to use the Apple Vision Pro to connect to your laptop, simulating a screen for your device. In the end, I followed the path of so many other Vision Pro early adopters and became an early returner.

Persons: Apple's, it's, peck, Apple, audibly, hadn't, Newton, keystroke, I've, I'd Organizations: Sony, Apple Vision Pro, Vision, Apple, Department of Justice, Disney, Cupertino colossus Locations: New York

☆ Creators are growing increasingly concerned about AI as OpenAI's Sora looms and issues of inclusivity and crediting persist
▼ + stars: | 2024-03-26 | by ( Shriya Bhattacharya | Marta Biino | ) www.businessinsider.com time to read: +8 min

"I'm worried about AI stunting creativity, replacing the need to use our brains," said travel creator Jessica Morrobel, who has about 168,000 followers on TikTok and Instagram. Lifestyle creator Joseph Arujo said he primarily uses ChatGPT to format his emails, since he gets a lot of brand partnership requests. AdvertisementCherie Luo, who publishes educational content, said she uses AI to transcribe and summarize her podcast episodes. And UGC creator Salha Aziz said she uses AI for a variety of tasks, including writing scripts for her videos. "It is concerning how good it's getting," said Tales, who has 2.7 million followers on TikTok and Instagram.

Persons: —, Snapchat, I'm, Jessica Morrobel, Noah Jennings, Marina Mogilko, YouTuber who's, Cassey Ho, Joseph Arujo, Cherie Luo, Salha Aziz, Sora, Tyler Perry, he'd, Martin Haerlin, Tristan, Alex Piper, Haerlin, Kahlil Greene, we'll, Nneya Richards, she'd, Richards Organizations: Service, SXSW, Business, Adobe, YouTube, Ferrari, Night Studios, it's Locations: Texas, TikTok

☆ Ericsson will cut 1,200 jobs in Sweden
▼ + stars: | 2024-03-25 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting measures. Ericsson announced on Monday that it will lay off around 1,200 employees in Sweden as the telecom company faces slowed demand for its 5G equipment. Last year, the company laid off 8,500 staffers, or about 8% of its workforce, to cut costs. Ericsson had 99,950 employees, including 10,744 workers in North America, at the end of last year, according to an SEC filing. In 2023, more than 260,000 workers were let go from almost 1,200 tech companies.

Persons: Ericsson Organizations: Ericsson, SEC, Industry, Meta, Microsoft, Cisco Locations: Sweden, North America

Alphabet, Apple and Meta were told by European Union regulators on Monday that they were under investigation for a range of potential violations of the region’s new competition law. The law requires Alphabet, Apple, Meta and other tech giants to open up their platforms so smaller rivals can have more access to their users. The investigations center on whether Apple and Alphabet, the parent company of Google, are unfairly favoring their own app stores to box out rivals. Meta will be questioned about a new ad-free subscription service and the use of data for selling advertising. The European Commission, the European Union’s executive arm, can fine the companies up to 10 percent of their global revenue, which for each runs into the hundreds of billions of dollars each year.

Organizations: Meta, European Union, Apple, Google, European Commission

☆ The NFL's annual meeting is happening now. Here are 6 firms that stand to win if the league opens its doors to new investors.
▼ + stars: | 2024-03-25 | by ( Tiara White | Alex Nicoll | ) www.businessinsider.com time to read: +4 min

This year's meeting is being closely watched by Wall Street because of a planned discussion about whether to start letting team owners sell stakes to private-equity firms and other institutional investors. So who stands to benefit if the NFL owners agree to a rule change? AdvertisementThe sports investing experts who spoke to BI pointed to private-equity firms with established histories in sports investing, like Dyal HomeCourt, Arctos Partners, and RedBird Capital. Lutsky also thinks a rule change could prompt more financial industry newcomers to try to break into the world of sports investing. See BI's list of private-equity firms that could benefit from an NFL rule change, according to 6 finance experts and industry insiders, from bankers to investment advisors:

Persons: —, Arun Muralidhar, Muralidhar, Tim Schlittner, Jonathan Lutsky, Lutsky Organizations: Service, NFL, Tennessee Titans, Forbes, Business, NBA, NHL, MLB, Mcube Investment Technologies, Drake Star Partners, BI, Arctos Partners, RedBird, Partners, Sports Locations: Orlando , Florida

☆ An engineer who landed a $300,000 job at Google shares the résumé that got him in the door — and 3 things he'd change on it today
▼ + stars: | 2024-03-25 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Here's the résumé that got him in the door at Google — and what he'd change on it today. AdvertisementHe finally landed a software engineering role at a small fintech company in Chicago, but felt he wasn't learning the most up-to-date software skills with them. "I had that itch of working in big tech," Gaba said. Sahil GabaWhat he would change on his résumé todayThe résumé above landed Gaba job offers with three tech giants. Lead with experience, not skills: Gaba said he created this résumé before landing his first big tech job at Amazon.

Persons: Sahil Gaba, —, Gaba, they're, you've, I've Organizations: Meta, Google, Service, Amazon, Hobbies Locations: India, Chicago, Google's Seattle

☆ Digital Markets Act: Apple, Google and Meta at risk of ‘heavy’ fines as Europe launches new probes
▼ + stars: | 2024-03-25 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —The European Union has launched investigations into Apple, Google and Facebook parent Meta on suspicion that they are failing to comply with a new landmark European law designed to promote competition in digital services. The European Commission said it “suspects” that various practices by all three companies “fall short of effective compliance” with the Digital Markets Act (DMA), which went into effect earlier this month. If the probes find a “lack of full compliance,” they could face “heavy fines,” said European Commissioner Thierry Breton. The practices the European Commission is investigating include what it calls Meta’s “pay or consent” approach. Last October, Meta (META) launched a subscription service, called “Subscription for no ads,” allowing European users of Facebook and Instagram to pay up to €12.99 ($14) a month for ad-free versions.

Persons: “, ”, Thierry Breton, Elon Musk’s, Meta’s, Meta’s ‘ Organizations: London CNN, European Union, Apple, Google, European Commission, Digital Markets, Microsoft, Commission, Meta, Facebook, CNN

☆ Why this is a wild week for Trump even by his standards
▼ + stars: | 2024-03-24 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But exemplifying the roller-coaster nature of his public career, Trump is also soon poised for a massive financial windfall. The case, related to payment to an adult film star ahead of the 2016 election, could lead to Trump being a convicted felon by November’s election. His legal team said last week the bond amount was a “practical impossibility” for Trump, whose wealth is tied up in skyscrapers and golf resorts. Trump’s legal team has also said he shouldn’t be required to sell assets to meet the deadline since doing so would create a fire sale devastating to his business. The White House has done its best not to comment on the case, to avoid giving Trump more political ammunition.

Persons: Donald Trump’s, impeachments, Trump, he’s, Joe Biden, It’s, Letitia James, Jean Carroll, James, subpoenaing Trump, –, litigator Mitchell Epner, ” Epner, Fredricka Whitfield, Biden, Arthur Engoron, ” Trump, Alexandria Ocasio, Cortez, Donald Trump, Juan Merchan, Michael Cohen, Trump’s, there’s Organizations: CNN, Trump, Republican Party, Trump Organization, New York, New, Biden White, , New York, Republican, ”, The New, The New York Democrat, Trump Media, Technology Group, Southern, of, White Locations: New York, Manhattan, Westchester County , New York, ,, Alexandria, “ State, The New York, of New York, Lago, America

☆ Digital firm Kevel raised $23 million to help brands stand up advertising businesses. Here's the pitch deck it used to take on giants like Criteo and Epsilon.
▼ + stars: | 2024-03-21 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +2 min

Earlier this month, the adtech firm Kevel announced that it had raised $23 million in a Series C round of funding to help retailers set up and run advertising businesses. Fourteen-year-old Kevel, formerly known as Adzerk, sells software that brands, including Klarna and Delivery Hero, pay a monthly fee for to manage advertising businesses on e-commerce websites. Kevel's products help retailers sell search ads on e-commerce websites, provide an ad server to manage and place ads, and give access to an audience tool that collects retailers' first-party data. Kevel competes with a growing number of adtech firms that help retailers stand up ad businesses, like Criteo, Epsilon, and Microsoft. Kevel doesn't sell ads, which Avery said the firm benefits from as more retailers like Target's Roundel take their ad businesses in-house.

Persons: Kevel, James Avery, Puja Rios, —, Avery, Morgan Stanley Organizations: Business, Walmart, Epsilon, Microsoft, Interactive, Fulcrum, Partners, Godwin Capital Group, Iberis, Dunnhumby Ventures, Commerce Ventures

☆ A California McDonald's franchisee says fast food would be 'unaffordable' if she raised prices enough to cover the new $20 minimum wage
▼ + stars: | 2024-03-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

"You can't raise prices enough," the Los Angeles franchisee told KTLA 5 News. From April, California's minimum wage for fast-food workers will be 25% higher than the general one. AdvertisementA McDonald's franchisee in Los Angeles says that if she wanted to raise her prices to fully offset California's incoming $20 minimum wage for fast-food workers, her burgers and fries would be unaffordable. AdvertisementThe minimum wage for fast-food workers in California is going up to $20 an hour starting April 1 — 25% more than the state's general minimum wage. Correction: March 21, 2024 — An earlier version of this story incorrectly described two places in Los Angeles County.

Persons: —, Kerri Harper, Howie, Harper, who'll Organizations: Los Angeles, KTLA, Service, Food, Harper Locations: Los Angeles, California, Inglewood , California, Los Angeles County, Inglewood, Compton

☆ The potential $2 billion sale of Selena Gomez's Rare Beauty could make her the next celebrity billionaire
▼ + stars: | 2024-03-20 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

Here's how Rare Beauty outdid other celebrity brands — and how it could make Gomez a billionaire. AdvertisementThere are currently at least 40 celebrity beauty brands on the market — all experiencing varying degrees of success. AdvertisementNow, Selena Gomez may be poised to join their ranks and become the next celebrity beauty billionaire. Rare Beauty is exclusively sold at Sephora — meaning a potential buyer would see plenty of room for growth. It's among the most-followed celebrity beauty brands on both Instagram and TikTok, with 7.1 million and 3.6 million followers, respectively.

Persons: Selena Gomez, Gomez, —, Hailey Beiber's Rhode, Addison, Brad Pitt's Le Domaine, Rihanna, Kim Kardashian, Kim, Anncy Rowe, Jeffrey Ten, Scott Friedman, Nikki Eslami, Pascal Le Segretain, it's, Friedman, Mehdi Mehdi, Joyce Kim, Estée Lauder, Elizabeth Taylor's, Rowe, she's, Alex Rawitz Organizations: Service, Coty, Bloomberg, Fashion, Business, Fast Company, Brand, New Theory Ventures, Nyx, L'Oréal Locations: SKKN, L'Oréal, Sephora

☆ HongShan split from Sequoia last year as US-China relations worsened. Now, it's eyeing up Europe.
▼ + stars: | 2024-03-19 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +4 min

Last June, storied investor Sequoia Capital announced it was to split itself into three separate entities. Sequoia Capital would look after the US and Europe; Peak XV Partners would manage its investments in India; and HongShan Capital would be based in China. The emergence of HongShan as an active investor in Europe would result in the firm "competing with former family," one source said. The expansion could be aimed at attracting businesses that target the Chinese market or companies set up by Chinese entrepreneurs away from home, the FT said, citing sources who had spoken with Shen. HongShan Capital's most recent fund includes LPs such as CalPERS, the University of Texas Investment Management Company, and the University of Washington endowment.

Persons: HongShan, Neil Shen, Shen Organizations: Sequoia Capital, YouTube, Sequoia, Partners, HongShan, Business, United, Strategic, University of Texas Investment Management Company, University of Washington Locations: China, Europe, India, London, Singapore, Asia

☆ China keeps on finding ways to hurt USA Inc
▼ + stars: | 2024-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Beijing has asked domestic EV companies to ramp up spending with local chip makers, per Bloomberg. It has bruised Tesla too, as it battles for market share with domestic EV makers competing on price. AdvertisementApple, for instance, generated almost 20% of its revenue from sales in China last year. Nvidia reported $10.3 billion in revenue from China for its last fiscal year, up from $5.8 billion the year prior. Chinese EV makers like BYD are being asked to buy chips locally instead of from US firms.

Persons: —, Tesla, BYD, Orin, Fabrice Coffrini Organizations: Bloomberg, Service, China's Ministry of Industry, Information Technology, Huawei, Publishing, Getty, Nvidia Locations: China, Beijing, BYD, Hangzhou, chipmakers, Chinese, AFP

☆ Pop art: Explaining it’s enduring appeal
▼ + stars: | 2024-03-18 | by ( Christian House | ) edition.cnn.com time to read: +6 min

CNN —As accidental adverts for art shows go, a giant pooch made of flowers is a crowd pleaser. Outside the Guggenheim Bilbao in northern Spain, Jeff Koons’ much-loved flower 1992 sculpture “Puppy,” shows how Pop art — that high kick of counter-intuitive artistic expression so often equated with the 1960s — never really went away. The Pop baton has been handed over numerous times in art history. The Guggenheim Museum was pivotal to the development of the movement, both in terms of its fame and its art historical importance. The show features works by many American Pop art A-listers like Roy Lichtenstein (above).

Persons: Jeff Koons ’, —, Koons, Andy Warhol, Roy Lichtenstein, Robert Rauschenberg —, Lauren Hinkson, ” Erika Ede, ”, Claes Oldenburg, Maurizio Cattelan, Pinocchio, Lucia Hierro, Warhol, Lichtenstein, Rauschenberg, Jasper Johns, James Rosenquist, Jim Dine, Coosje van Bruggen, Frank Lloyd Wright, Erika Ede, Joan Young, “ Andy Warhol, “, Lucía Hierro, Hierro, Lucía Guzmán, –, “ I’ve, begonias, Pop Organizations: CNN, Guggenheim, Highland, Guggenheim Museum Locations: Spain, York, Manhattan, Bilbao, Dominican American, New York, Hierro

☆ Apple is getting serious about AI
▼ + stars: | 2024-03-18 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +4 min

It comes as Apple is expected to unveil several new AI features at its developer conference in June. According to a Bloomberg report, Apple is interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features. A partnership with Google would catapult Apple into the growing AI arms race. Apple, Google and OpenAI did not respond to a request for comment. Behind the scenes, Apple reportedly has been working its on-device generative AI capabilities and acquiring companies, such as Canadian startup DarwinAI.

Persons: they’ve, —, Siri, OpenAI, Tim Cook, we’re, Apple, Angelo Zino, Beata Zawrzel, Wedbush Organizations: CNN, Apple, Google, Bloomberg, Learning Research, CFRA Research, Wedbush Securities, Gemini, Microsoft Locations: Cupertino

☆ The cocoa market is so hot that the commodity has crushed bitcoin's 150% gain in the last year
▼ + stars: | 2024-03-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Cocoa prices are hovering near historic highs around $8,000 per metric ton. The chocolate commodity has outperformed bitcoin in the last year, gaining more than 200%. A bad harvest and lack of investment have sent cocoa prices higher over recent months. Related storiesRoughly three-fourths of the world's cocoa, per Bloomberg, comes from four countries in West Africa: Ivory Coast, Ghana, Cameroon, and Nigeria. Last month, chocolate giants Hershey and Cadbury both warned of potential price hikes for consumers in light of the cocoa supply shortage.

Persons: —, that's Organizations: Service, Bloomberg, Processors, Reuters, International Cocoa Organization, Hershey, Cadbury Locations: West Africa, Ivory Coast, Ghana, Cameroon, Nigeria

☆ Apple is reportedly in talks to license Google's Gemini for generative AI on iPhones
▼ + stars: | 2024-03-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

(Photo by Lionel BONAVENTURE / AFP) (Photo credit should read LIONEL BONAVENTURE/AFP via Getty Images)Apple is reportedly in talks with Google to let the iPhone maker license and build its Gemini artificial intelligence engine into the iPhone, according to a Bloomberg report. Gemini is Google's suite of generative AI tools, which ranges from chatbots to coding assistants. Apple could launch the iOS 18 — its latest operating system for the iPhone — at its Worldwide Developer's Conference in June. Apple also recently held discussions with OpenAI and has considered using its model, according to the people cited by Bloomberg. However, the report said "the two parties haven't decided the terms or branding of an AI agreement or finalized how it would be implemented."

Persons: Lionel BONAVENTURE, LIONEL BONAVENTURE, OpenAI, haven't Organizations: Google, Facebook, Apple, Getty, Bloomberg, Worldwide Developer's Conference Locations: Paris, AFP

☆ Goldman lays out the next phases of AI trade and stocks to play them
▼ + stars: | 2024-03-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

"In addition to NVDA, investors have been focused on a broadening of the AI trade. We expect there will likely be three broad, subsequent stages of the AI trade," Hammond wrote. Goldman foresees a second phase that focuses on companies that build and maintain the infrastructure around AI. "Based on performance and valuation, investors have already started to price subsequent phases of the AI trade. An equal-weighted basket of Phase 2 stocks is up 14% during the past 6 months, largely driven by valuation expansion.

Persons: Goldman Sachs, Ryan Hammond, Hammond, Goldman foresees, Goldman, — CNBC's Michael Bloom Organizations: Nvidia, Broadcom, Foundry, Keysight Technologies, Palo Alto Networks, Intuit, Adobe, Nvidia —, Pinterest, Tenet Healthcare

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