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☆ Nvidia CEO says he wakes up every morning worried his company might fail
▼ + stars: | 2023-11-29 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Nvidia CEO Jensen Huang said he wakes up worried his company might fail. Huang said the feeling he got from Nvidia nearly going out of business years ago has stuck with him. The fear of his chip empire tanking, Huang admitted, is a feeling he grapples with every morning when he wakes up. "I think during adversity you're more focused," Huang said. "I like going home and telling my wife I saved the company today," Huang said during the DealBook summit.

Persons: Jensen Huang, Huang, —, Andrew Sorkin, Sorkin Organizations: Nvidia, Service, New York Times DealBook, Yorker Locations: Nvidia's, Taiwan

REUTERS/Kacper Pempel/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - A cyber extortion gang suspected of being an offshoot of the notorious Russian Conti group of hackers has raked in more than $100 million since it emerged last year, researchers said in a report published on Wednesday. An attempt to reach Black Basta via its darkweb site was not immediately successful. Elliptic cofounder Tom Robinson said the massive haul made Black Basta "one of the most profitable ransomware strains of all time." "Conti was perhaps the most successful ransomware gang we've seen," Robinson said. The latest findings suggest "some of the individuals responsible are replicating its success with the Black Basta ransomware."

Persons: Kacper, Russian Conti, Tom Robinson, Robinson, Conti, Black Basta, we've, Basta, Raphael Satter, James Pearson, Gerry Doyle Organizations: REUTERS, Rights, Insurance, U.S . Treasury, Thomson Locations: Russian, bitcoin, Black, Russia, Ukraine, London

☆ Elon Musk’s quest in foreign affairs plagued by his own online behavior
▼ + stars: | 2023-11-28 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

Washington CNN —Elon Musk is an increasingly important player in global affairs and has been touring the world to meet with political leaders in recent months. “We can observe Elon Musk’s Twitter/X activity that he regularly consumes right-wing content and this increased during COVID-19,” Facciani said in an email. More recently, however, Musk’s ambitions have come a bit closer to earth and become far more concrete. There are many world leaders who hold extreme or far-right views, of course. Musk’s outbursts that contradict widely held international norms and values are meant for a specific internet audience that Musk mistakes for being representative of the wider world.

Persons: Washington CNN — Elon Musk, White supremacists, Musk, Benjamin Netanyahu, It’s, George Soros, Netanyahu, Matthew Facciani, “, Elon, ” Facciani, Vladimir Putin, Rishi Sunak, Recep Tayyip Erdogan, he’s, Ron DeSantis ’, Robert Kennedy Jr, ’, ” Musk, ”, reactionism Organizations: Washington CNN, Defamation League, Whites, White, The University of Notre Dame, Twitter, UK, Florida Republican Gov, United States Locations: Israel, Gaza, COVID, Ukraine, Crimea, Washington, United, Russia

☆ Italy Searches for Museum Leaders, With Nationalism in the Air
▼ + stars: | 2023-11-28 | by ( Elisabetta Povoledo | More About Elisabetta Povoledo | ) www.nytimes.com time to read: +1 min

Ten candidates are up for each job. The final selection will be made sometime next month by Gennaro Sangiuliano, Italy’s culture minister, and Massimo Osanna, the ministry’s director overseeing museums. It has been eight years since a reform granted some Italian arts institutions greater autonomy and opened up the position of museum director to people from outside the culture ministry’s ranks. The then-culture minister, Dario Franceschini, sought applications from foreigners to shake up the museum sector, even publishing the job advertisement in The Economist magazine. At the first 20 museums affected by the reform, Franceschini appointed seven foreigners and several Italians with experience abroad, who were hired for a four-year contract, that could be renewed once.

Persons: whittle, Gennaro Sangiuliano, Massimo Osanna, Dario Franceschini, Franceschini Organizations: Culture Ministry, Brera, Economist Locations: Florence, Naples, Milan

☆ Rolls-Royce's overhaul is deceptively ambitious
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 28 (Reuters Breakingviews) - Rolls-Royce (RR.L) boss Tufan Erginbilgic wants to push Britain's biggest aerospace company to its limit. On the face of it, Erginbilgic's targets are not overly ambitious. Analysts were already forecasting a group operating margin of 11% in 2025 on the back of an air traffic recovery, according to LSEG data, not far below Erginbilgic's goal of 13%-15%. Yet this is the same margin range of Rolls-Royce's rivals Safran (SAF.PA) and General Electric (GE.N) which make engines for short-haul flights. Rolls-Royce's engines are instead used to power so-called widebody aircraft like Airbus's A330neo, used for transatlantic flights.

Persons: Tufan Erginbilgic, Safran, Pamela Barbaglia, Julius Baer’s, Warren Buffett, Neil Unmack, Streisand Neto Organizations: Reuters, Royce, Investors, General Electric, X, Thomson

Cheney writes most members knew “it was a farce” and “another public display of fealty to Donald Trump.”“Among them was Republican Congressman Mark Green of Tennessee,” Cheney writes. “Leader McConnell, who had made a career out of savvy political calculation and behind-the-scenes maneuvering, got this one wrong,” Cheney writes. In the book, Cheney also condemns right-wing media for amplifying the disinformation coming from Trump and his allies. “Several months later, I heard the show had been in the final stages of production when it was shut down,” Cheney writes. Cheney writes that Pelosi’s team “pulled together a list of the 10 worst things I had ever said about her.

Persons: Washington CNN —, Liz Cheney, “ enablers, ”, Donald Trump, Cheney, ” Cheney, Kevin McCarthy, Trump, he’d, Mike Johnson, “, Liz Cheney's, Brown, hypocrites –, Steven Cheung, ‘, Jesus, McCarthy, ” McCarthy, “ McCarthy, Jim Jordan, ” Jordan, Jordan, Russell Dye, Johnson, “ Johnson, ’ ”, Mark Green of, Green, sheepishly, ’, ’ Cheney, craven, fundraise, Kevin, “ They’re, Jerry Maguire, Tom Cruise, Renée Zellweger, it’s, Mike Pence, Pence, Paul Ryan, Ryan, Cheney’s, Dick Cheney, Liz Cheneys, cautioning, ’ ” Cheney, Roberto Schmidt, Hakeem Jeffries, George W . Bush, “ Liz, Courage, I’m, Nancy Pelosi, Liz ’, ruefully, Trump –, Mike Kelly, “ She’s, Mike Turner, Liz, Drew Angerer, Ronald Reagan, Reagan, George W, Bush, McConnell, Mitch McConnell, ” McConnell, Fox, Tucker Carlson, Pelosi, “ Trump, Jan, CNN’s Kristen Holmes, Annie Grayer, Oliver Darcy Organizations: Washington CNN, Republican Party, CNN, Wyoming Republican, Trump, White, GOP, Republican, California Republican, Fox News, “, Capitol, ”, Orange Jesus, Mar, Save America PAC, AFP, Getty, Democratic, Republicans, House Republican Conference, Caucus, U.S . Capitol, Jan, Senate Republicans, Fox Corp, Fox, Democrat, Independent Locations: Wyoming, California, Mark Green of Tennessee, Mar, Trump, Washington , DC, Ohio, WASHINGTON, DC, Washington ,, Trump’s, Congress, America

☆ CHART OF THE DAY: Fear of missing out may heat up market rally even more after $240 billion fled stocks and $1 trillion flowed to safer bets
▼ + stars: | 2023-11-27 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Despite a strong stock market rally since October 2022, investors have pulled money out of equity funds. Fund flow data reveals investors are still seeking out safer assets like bonds and money market funds. Investors have taken $240 billion out of stock market funds, suggesting to Fundstrat's Tom Lee that a FOMO rally is imminent. Over the same time period, they purchased $107 billion worth of bond funds and $1.1 trillion worth of money market funds. According to data from the Fed, retail investors are holding a record $1.6 trillion in money market funds, taking advantage of 5% interest rates.

Persons: Tom Lee, —, Lee, Cash Organizations: Investors, Service, Nasdaq, Federal Reserve Locations: Fundstrat

☆ A viral $16 McDonald’s meal won’t go away, and that’s a problem for Democrats
▼ + stars: | 2023-11-27 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Take the $16 McDonald’s meal that struck a nerve on TikTok late last year. Of course, fast food prices have gone up along with everything else in the past few years, but not by as much as the TikTok video suggests. Because the vast majority of McDonald’s restaurants in the United States are independently owned, prices vary from region to region. The social media megaphoneIn an era before TikTok or YouTube, a $16 burger moment would have lasted a few seconds. The real beefPerhaps the more significant economic takeaway from the viral McDonald’s meal is not that the meal actually cost $16 but that the man paid for it.

Persons: CNN Business ’, ”, …, there’d, Joe Biden’s, , —, Biden, Topher Olive, Olive, pollsters Organizations: CNN Business, New York CNN, New York Post, Democratic, Mac, CBS News, CNN, White, Office, Digital Strategy, Washington Post, Consumer Locations: New York, Idaho, America, United States, Darien , Connecticut

☆ Australia Says AUKUS a Response to Arms Race, Not Fuel for It
▼ + stars: | 2023-11-27 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

SYDNEY (Reuters) - The Indo Pacific region is in the midst of a substantial arms race that Australia is responding to, not fuelling, with its planned acquisition of nuclear-powered submarines, Minister for Defence Industry Pat Conroy said on Tuesday. The $245 billion AUKUS project with Britain and the United States to build a new class of nuclear-powered and conventionally armed submarine has been criticised by China as having the potential to spark an arms race. "The arms race is the greatest its been since 1945, and that is why I reject assertions... that Australia is somehow fuelling that arms race. "Conflict is far from inevitable," he said, adding that Australia cannot afford to under-invest in defence. Australia's nuclear-powered submarine fleet will be used for intelligence gathering in peacetime and to strike enemy targets during a war, Conroy said.

Persons: Defence Industry Pat Conroy, Conroy, AUKUS, Kirsty Needham, Gerry Doyle Organizations: SYDNEY, Defence Industry, National Press Club Locations: Australia, Britain, United States, China, Canberra, Southeast Asia, Philippines, South, Darwin

[1/3] Chinese Premier Li Qiang (R) and French Foreign Minister Catherine Colonna shake hands at the Great Hall of the People in Beijing, China on November 24, 2023. Jade Gao/Pool via REUTERS Acquire Licensing RightsBEIJING/PARIS, Nov 24 (Reuters) - French Foreign Minister Catherine Colonna is set to meet the Chinese leadership in Beijing on Friday as she seeks to soothe ties after the launch of a European Union anti-subsidy probe backed by Paris into Chinese-made electric vehicles. France is also concerned about Chinese attempts to force French cosmetics companies to share manufacturing secrets with Chinese parties. Xi insisted that China welcomes investment from French firms in a telephone call on Monday with Macron, who urged fair treatment for foreign companies in China. Macron visited China in April with great fanfare, in an attempt to demonstrate France's strategic autonomy from the United States.

Persons: Li Qiang, Catherine Colonna, Jade Gao, Wang Yi, Ursula von der Leyen, Charles Michel, Xi Jinping, Emmanuel Macron, Xi, Macron, Colonna, Laurie Chen, John Irish, Raju Gopalakrishnan Organizations: French, of, People, REUTERS Acquire, Rights, European, European Commission, EU, Thomson Locations: Beijing, China, Rights BEIJING, PARIS, European Union, Paris, France, Ukraine, Iran, Gaza, North Korea, United States

☆ Britain's Lloyds shake-up puts around 2,500 jobs at risk - source
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Lloyds Bank logo and rising stock graph are seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 24 (Reuters) - Britain's biggest high street bank Lloyds (LLOY.L) is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed push by lenders to slash costs. Staff are expected to be informed of the process as early as next week, the source said, adding it would also involve the creation of 120 roles. The news comes after Reuters reported on Thursday that Lloyds' rival Barclays (BARC.L) is working on plans to save up to 1 billion pounds ($1.25 billion), which could involve cutting as many as 2,000 jobs. But investor concerns about tougher competition for savers' cash and potential loan defaults amid a cost-of-living crisis are weighing on the sector.

Persons: Dado Ruvic, Iain Withers, Lawrence White, Gursimran Kaur, Devika Syamnath, Hugh Lawson Organizations: Lloyds Bank, REUTERS, Lloyds, Staff, Guardian, Reuters, Barclays, savers, Thomson Locations: London, Bengaluru

☆ Healthcare, AI and more: How one pro is investing for a 'Goldilocks' economy
▼ + stars: | 2023-11-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

A so-called Goldilocks economy is one which doesn't grow too quickly, or shrink too much — in other words, it's just right. "The reason they've such a high dividend yield is because there's something wrong with the company. And so, the value of the stock has gone down, which means the dividend yield is high," he said. And so, when, when I think about dividend stocks, I'm thinking about companies that pay a moderate dividend." Buy-rated stocks CNBC Pro screened for the top dividend stocks in each of the four themes Budden is looking at.

Persons: Andy Budden, it's, Budden, Eli Lilly, He's, Bard Organizations: Capital Group, U.S . Federal Reserve, CNBC Pro, Bank of America, Pharmaceutical, Novo Nordisk, Microsoft, Google

☆ How to avoid clashing with your family over politics this Thanksgiving. No, really.
▼ + stars: | 2023-11-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Thanksgiving dinner is ripe for family fights about politics, relationships, social issues, and more. Here's what they say are the best ways to avoid clashing with your family at holiday gatherings this year. "And if you think that there's going to be a difficult conversation, I would say try to do that before the holidays. Set firm boundaries about what type of conversation you're willing to engage in, then stick to them, Saunders-Waldron told Business Insider. "I think grace is a big deal in this whole topic because you don't want to alienate from your family," Grant said.

Persons: —, Karen, Risha Grant, Grant, you'd, Aunt Karen, you've, Keisha Saunders, Waldron, Saunders, Justin Hale, people's, Hale, hadn't, it's, I'm, we'll Organizations: Service, Business

☆ I answer the Butterball turkey hotline. I get lots of funny questions on Thanksgiving Day.
▼ + stars: | 2023-11-23 | by ( Jenny Powers | ) www.businessinsider.com time to read: +8 min

Phyllis Kramer is a Butterball Turkey Talk-Line expert based in Aurora, Illinois. AdvertisementI've been talking turkey on the Butterball Talk-Line for 22 years now. AdvertisementSome people assume my job must be easy, but they couldn't be more wrongKramer answers calls to the Butterball Turkey Talk-Line. AdvertisementOur average call lasts 3 minutes, and the most common question is how to thaw a frozen turkeyA herb- and citrus butter-roasted Butterball turkey. I always thaw turkey in the refrigerator.

Persons: Phyllis Kramer, She's, —, I've, Kramer, I'm, we're, we've, parsnip, it's, We'll Organizations: Service, Canadian, Foods, Butterball University Locations: Turkey, Aurora , Illinois, Butterball Turkey, Naperville , Illinois

☆ Opinion: Taking a trip to the firing range was something I’d never do before October 7
▼ + stars: | 2023-11-22 | by ( Opinion Amy Klein | ) edition.cnn.com time to read: +9 min

I put my clear plastic goggles back on and reenter the smoky range to learn how to shoot a gun. That’s how I found myself at Gun for Hire, a gun range and club in New Jersey, to learn how to shoot. (“I want you to get the feel for both guns,” Kedem said.) Kedem had told me I’d get used to the noise, and I did. If I came to the range a few more times, I know I could get the hang of shooting — and even excel at it.

Persons: Amy Klein, Amy Klein Mira Zaki I’ve, Maga, ”, “, Woody Allen, we’d, Hillel Norry, Beth David, ” Norry, he’s, —, Klein, Amy Klein Be, Kedem, Walther, ” Kedem, he’d, Yosi, I’ve, Ben Shapiro, Norry Organizations: CNN, US Centers for Disease Control, FBI, Hire, ”, Factory, Glock, Columbia University Locations: Israel, New York City, New Jersey, Long, Snellville , Georgia, Manhattan, Israeli American, America, Chile

For much of the past year, OpenAI’s board of directors has been criticized as too small and too divided to effectively govern one of the fastest-growing start-ups in Silicon Valley history. On Friday, the board’s dysfunction spilled into public view when four of its members fired Sam Altman, OpenAI’s popular and powerful chief executive. Mr. Altman, 38, returned to the company on Tuesday night, after days of haggling over his job and over the makeup of the board. The board and Mr. Altman’s allies discussed more than a half dozen options for its future. The departing board wanted to be sure the replacements would be independent thinkers and experienced enough to stand up to Mr. Altman.

Persons: Sam Altman, OpenAI’s, Altman, Altman’s, Laurene Powell Jobs, Steve Jobs, Brian Chesky Organizations: Emerson Locations: Silicon Valley

☆ Britain's Hunt broadens push to unlock pension pots for growth
▼ + stars: | 2023-11-22 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

By 2030, the majority of workplace DC savers will have their pension pots managed in schemes of over 30 billion pounds, and by 2040, all local government pension funds will be invested in pools of 200 billion pounds or more," Hunt told parliament. Hunt said such changes could help unlock an extra 75 billion pounds ($93.46 billion) of financing for high growth companies by 2030, and improve returns for pensioners. The British Business Bank will set up a new growth fund for schemes to invest in growth companies, and there will be a consultation on giving the Pension Protection Fund a new role to help consolidate direct benefit schemes, he said. The government also wants to allow certain portions of shares - fractional shares - within ISAs. ($1 = 0.8025 pounds)Reporting by Huw Jones Editing by Frances Kerry and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Jeremy Hunt, Hannah McKay, Hunt, PIMFA, William Wright, Huw Jones, Frances Kerry, Bernadette Baum Organizations: REUTERS, British, London Stock Exchange's, Aquis Exchange, DC, British Business Bank, Local, ISA, Labour Party, Labour, New, Thomson Locations: London, Britain, New York, ISAs

☆ Finland hope to continue Davis Cup fairytale and inspire new generation
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Finland boasts famous figures in Formula One, ice hockey, athletics and winter sports but not many noted tennis players and former world number 13 Nieminen said his team's best-ever Davis Cup run could inspire a new generation. "Now tennis is getting bigger and bigger. Even before our success, tennis was getting a little bit bigger. The Davis Cup team is getting more attention. Finland will play the winner of Wednesday's quarter-final between 2022 runners-up Australia and the Czech Republic in Friday's semi-final.

Persons: deportes Martin, Finland's Harri Heliovaara, Otto Virtanen, Canada's Alexis Galarneau, Vasek Pospisil, Jon Nazca, Jarkko Nieminen, Harri Heliovaara, Nieminen, It's, Shrivathsa Sridhar, Muralikumar Organizations: Palacio, deportes, deportes Martin Carpena, Vasek Pospisil REUTERS, Rights, Davis, Canada, Thomson Locations: Finland, Malaga, Spain, Sweden, Fuengirola, Formula, Australia, Czech Republic, Friday's, Bengaluru

They spoke to The Associated Press in the months leading up to Rosalynn Carter's death Sunday at age 96. “I do not think there has ever been another sort of leader in the mental health field who has had as much of an impact on mental health care and access to care and how we think about mental health and mental illness as Mrs. Carter,” Cade said. Then, as president, he created a national commission on mental health, which led to the passage of the Mental Health Systems Act of 1980, a major revamping of federal policy that sought to treat people with mental illness in their communities. Those who worked with her over the decades say Carter’s accomplishments were rooted in her compassion and listening skills. What else could we be doing?”____Associated Press reporter Holly Ramer received a 2017-18 Rosalynn Carter Fellowship for Mental Health Journalism.

Persons: Rosalynn Carter, ”, “ feebleminded, Hugh Gallen, Dayton Duncan, “, ” Duncan, Jimmy, Kathy Cade, Rosalynn, Carter, ” Cade, ” Rosalynn Carter, Jimmy Carter, Reagan, Cynthia Wainscott, you’re, Wainscott, Bill Lichtenstein, ” Lichtenstein, Lichtenstein, Marion Scher, ” Scher, Cade, Holly Ramer Organizations: CONCORD, U.S . Justice Department, Gov, Laconia State School, White, Carter, Associated Press, Mental Health Systems, Carter Center, Mental Health America, National Mental Health Association of Georgia, ABC News, The Carter Center, Mental Health Journalism Locations: N.H, Laconia , New Hampshire, Laconia, Atlanta, Georgia, Boston, U.S, South Africa

ROME, Nov 21 (Reuters) - Italy is considering candidates to take the helm of state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters, as part of a wider shake-up of state-controlled companies. State-backed investor CDP, founded 173 years ago, plays a key role in keeping strategic assets in national hands. Asked to comment on a change of CEO at CDP, Meloni's office said any rumours of a replacement for Scannapieco were unfounded. Rome is expected to decide on the top management of CDP in March at the latest, immediately after the approval of this year's CDP financial accounts, the sources said. The state lender invests savings made by Italians through the national post office network Poste Italiane.

Persons: Dario Scannapieco, Fincantieri, Giorgia, Scannapieco, Antonino Turicchi, Stefano Donnarumma, Mario Draghi, Elvira Pollina, Susan Fenton Organizations: Eni, ITA Airways, European Investment Bank, Telecom Italia's, Thomson Locations: Italy, State, Rome, EU, Milan

☆ Rosalynn Carter saw a need for mental health reform decades before the loneliness epidemic
▼ + stars: | 2023-11-20 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

Following the pandemic, the state of mental health in America saw such a great decline that the U.S. Yet, former first lady Rosalynn Carter, who passed away on Sunday at her home in Plains, Georgia at the age of 96, advocated for mental health long before 2020. Early on, Carter recognized the disconnect between individuals with mental health conditions and people without them. She made sure to hold her husband, former President Jimmy Carter, who is now 99 years old, to the same standard. "Twenty-five years ago, we did not dream that people might someday be able actually to recover from mental illnesses," Rosalynn Carter said at a mental health symposium back in 2003.

Persons: Vivek Murthy, Rosalynn Carter, Carter, Jimmy Carter, Mr, John F, Rosalynn, Rosalynn wasn't, wasn't, Eleanor Roosevelt, Jimmy Carter's, Warren Buffett Organizations: U.S, CNN, Kennedy Presidential Library and Museum, Services, Mental Health, Department of Justice, JFK Presidential Library and Museum, Carter Locations: America, Plains , Georgia, Georgia, U.S, PCMH

Microsoft announced Monday that it has hired Sam Altman and another architect of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world. Microsoft Chairman and CEO Satya Nadella tweeted that the U.S. tech giant is committed to its partnership with OpenAI, whose chatbot kicked off the generative AI craze by producing human-like text, images, video and music. Microsoft invested billions of dollars in the startup and helped provide the computing power to run its AI systems. “We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team,” Nadella said. The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives.

Persons: Sam Altman, OpenAI, Satya Nadella, Nadella, Emmett Shear, OpenAI's, Greg Brockman, ” Nadella, Altman, Brockman, Mira Murati, It's, Shear, didn't, “, Valley’s, ” OpenAI Organizations: Microsoft, OpenAI, Associated Press Locations: U.S

☆ Nvidia earnings will give Wall Street a peek into AI demand heading into 2024
▼ + stars: | 2023-11-20 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Jensen Huang, president of Nvidia, holding the Grace hopper superchip CPU used for generative AI at the Supermicro keynote presentation during Computex 2023. When Nvidia reports fiscal third-quarter results Tuesday, analysts are expecting to see revenue growth of over 170%. Heading into the Thanksgiving holiday, Wall Street will be closely scrutinizing the company that's been at the heart of this year's artificial intelligence boom. In particular, the emergence of AMD in the generative AI market presents a new dynamic for Nvidia, which has mostly had the AI graphics processing unit (GPU) market to itself. "NVDA needs to forcefully counter the narrative its products are too expensive for generative AI inference," the Bank of America analysts wrote.

Persons: Jensen Huang, that's, Lisa Su, Raymond James, OpenAI's, Sam Altman, OpenAI, Emmett Shear, Satya Nadella, Altman, Greg Brockman, Jensen, Eric Jackson Organizations: Nvidia, " Bank of America, AMD, Bank of America, FactSet, LSEG, Microsoft, Cailian Press Locations: China, OpenAI

☆ Fact Check: Altered image of Biden turning his back on Xi in California
▼ + stars: | 2023-11-20 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Footage from Reuters and other news outlets of U.S. President Joe Biden welcoming Chinese leader Xi Jinping in California does not show Biden turning his back on Xi, despite an image circulating online. A post (archived) on social media said: “President Xi is patiently waiting for President Biden to turn around his body” and “To respect old people is a virtue in China.” The accompanying image shows Biden facing toward his right, with his hand out, while Xi is on Biden’s left. Reuters footage of the same scene does not show Biden turning his back on Xi at any point during the exchange, however. Biden’s posture, facial expressions and hand placement in the altered image also match the 19-second timestamp where he reaches out to shake Xi’s hand, but with the image flopped so that Biden is facing away from Xi. Biden did not turn his back on Xi while welcoming him at the Filoli estate in California, according to footage of the scene from multiple news outlets.

Persons: Joe Biden, Xi Jinping, Biden, Xi, Biden’s, Xi’s, Read Organizations: Reuters, Economic Cooperation, Facebook, MSNBC, ABC, Thomson Locations: U.S, California, Woodside , California, San Francisco, Asia, China

☆ OpenAI's new CEO revealed plans for his first 30 days in an X post at 1 a.m.
▼ + stars: | 2023-11-20 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Emmett Shear laid out a three-point plan for his first 30 days as CEO in an X post at 1 a.m. The interim CEO revealed plans for his 30 days in in a X post at 1 a.m. PT – including hiring an investigator and restructuring the leadership team. The Twitch cofounder's three-point plan came just hours after Shear became OpenAI's second temporary chief in the space of three days. OpenAI's former CTO, Mira Murati, briefly became interim CEO Friday after the board removed Sam Altman . Shear included hiring an independent investigator in his first tasks in the post, which also criticized OpenAI's board for its handling of Altman's departure.

Persons: Emmett Shear, Sam Altman's, Shear, —, Mira Murati, Sam Altman, Altman, Jakub Pachocki, Aleksander Madry, Szymon Sidor, Satya Nadella Organizations: Service, Business

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