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☆ Opinion | The Mystery of JD Vance Is Unraveling
▼ + stars: | 2024-07-31 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +2 min

JD Vance embodies the pros and cons of political competition in a divided America. Vance’s reputation as defender of the globalization-battered working class can help Trump in the electorally crucial Midwest industrial belt states of Pennsylvania, Wisconsin, and Michigan. But Vance is also an absolutist on restricting abortion, the Republican’s biggest current weakness, according to polls. He has adopted Trump’s line that abortion rules should be left to the states, but his voting record is striking. In an interview with the Youngstown Ohio Vindicator, Vance contended that there was extensive fraud in 2020 including a “big-tech” conspiracy directed by Mark Zuckerberg, the chief executive of Facebook.

Persons: Vance, minuses, Donald Trump’s ‘, —, Sean O’Brien, ” That’s, Trump, Tony Fabrizio, ”, ” Vance, Mark Zuckerberg Organizations: GZERO Media, Republican National Convention, Republican, Teamsters, Ohio Republican Senate, Trump, Youngstown Ohio Vindicator, Facebook Locations: America, Pennsylvania , Wisconsin, Michigan

☆ Meta’s Reality Labs posts $4.5 billion loss in second quarter
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

A visitor wears a virtual reality headset Meta Quest as he takes part in an immersive experience stand during the Viva Technology show at Parc des Expositions Porte de Versailles on May 24, 2024 in Paris, France. As part of the company's second-quarter earnings report on Wednesday, Meta's Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. In September, Meta debuted the Quest 3 VR headset, which has a starting price of $499. Zuckerberg has pointed to advances in artificial intelligence and related large language models as improving the capabilities of smart glasses. Meta's second generation of smart glasses went on sale in October with a starting price of $299.

Persons: Porte de Versailles, StreetAccount, Mark, Meta, Ray, Ban, Zuckerberg, Francesco Milleri Organizations: Viva Technology, Parc, Labs, Reality Labs, Apple, CNBC, Meta Locations: Paris, France, China

☆ Meta shows aggressive spending on AI is already paying off in big earnings beat
▼ + stars: | 2024-07-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

While there are still concerns about the company's aggressive AI spending, we believe these investments will pay off in the long run. Both trends were cited as the main drivers behind Meta's revenue outperformance in the quarter. Zuckerberg added that AI is opening the door to new experiences and opportunities, especially with Meta AI, which is powered by the company's large language model that is often referred to as Llama. Zuckerberg said he believes Meta AI will be the most used AI assistant in the world by year end. Management now sees capex in the range of $37 billion to $40 billion, up from its prior range of $35 billion to $40 billion.

Persons: China's ByteDance, — Zuckerberg, Zuckerberg, we'll, Ray, Jim Cramer's, Jim Cramer, Jim, Mark Zuckerberg Organizations: Revenue, LSEG, China's, Meta, Investment, Facebook, Realty Labs, VR, Management, CNBC, Press, AFP, Getty Locations: United States, U.S, Tokyo

☆ OpenAI's releasing a new AI model soon, and there's a lot at stake
▼ + stars: | 2024-07-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, what to expect from OpenAI's newest AI model that's in the works. GPT-5, the newest model upgrade for OpenAI's chatbot, is coming soon . AdvertisementOpenAI has a lot riding on its newest model, including its ability to get customers to cough up more cash. That's not ideal for a company that's preparing to take on one of the biggest juggernauts in tech: Google's Search.

Persons: —, Z's, Let's, Nordin Catic, OpenAI, Darius Rafieyan, Darius, ChatGPT, Justin Sullivan, Chelsea Jia Feng, it's, Sam Altman, Ned Davis, David Solomon, Goldman Sachs, David Zalubowski, Chiang Ying, Mark Zuckerberg, Jensen Huang, Alexa von Tobel, Tyler Le, Mark Zuckerberg's, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Getty, OpenAI, Ned Davis Research, Blackstone, Harvard, Microsoft, Starbucks, Apple, Apple Intelligence, Fed, Meta, Boeing, Kraft Locations: undergrad, New York, China, London

☆ Meta set to report second-quarter earnings after the bell
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023. Meta is slated to report second-quarter earnings on Wednesday after the close of regular trading. Meta's ad revenue is projected to show an increase of 19% to $37.6 billion, according to StreetAccount. Heading into Meta's report on Wednesday, the digital ad market has shown some signs of weakness. Alphabet reported lower-than-expected ad revenue out of YouTube last week, and on Tuesday, Pinterest issued disappointing third-quarter guidance, leading to a 15% plunge in the stock after hours.

Persons: Mark Zuckerberg, LSEG, Meta, Zuckerberg, Emily Chang, Sundar Pichai, Pichai, Pinterest, Julia Brau Donnelly Organizations: Meta, Google, YouTube, Labs, Revenue, Quest VR, Microsoft Locations: Menlo Park , California

☆ Meta's advertising growth is proof that hefty AI spending is already paying off
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta reported revenue growth of 22% from a year earlier to $39.07 billion, with 98% of its sales coming from advertising, primarily on Facebook and Instagram. Its growth rate was double that of Google's ad business, which saw sales increase 11% to $64.6 billion, Alphabet said in its earnings report last week. Meanwhile, Pinterest and Spotify , which are both significantly smaller than Meta, reported revenue growth of 21% and 20%, respectively, in their latest reports. As in previous quarters, Li said Meta's advertising business benefited from online commerce, gaming and the media and entertainment sectors, and that ad growth continued to be strongest in the Asia-Pacific region. She said the company's "improved ad performance" helped lift overall ad prices despite slowing growth in that region.

Persons: Mark Zuckerberg, Emily Chang, Zuckerberg, Susan Li, Li Organizations: Meta, Inc, Facebook, Spotify, Apple Locations: Menlo Park , California, Asia, Pacific

☆ Want to work for Blackstone straight out of college? Here's the best route.
▼ + stars: | 2024-07-31 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

This year, Blackstone hosted more than 150 summer interns, including summer associates who tend to come from business or law school, as well as the undergrads who make up its summer analyst program. AdvertisementCheck out our exclusive deep dive into Blackstone's 10-week-long summer analyst program below. How competitive is Blackstone's summer analyst internship program? AdvertisementA group photo of Blackstone's summer analyst class during orientation. Gray recently addressed what leads to success at Blackstone in a speech to the 2024 summer analyst class, which was posted on Linkedin.

Persons: —, Blackstone, Jon Gray, Paige Ross, Blackstone's, Blackstone Blackstone, Taylor Kanfer, Kanfer, Mr Stone, Steve Schwarzman, they're, Ross, Goldman Sachs, There's, decamp, they'll, Gray, Kleiner Perkins, Chan Zuckerberg Organizations: Service, Harvard, Business, BI, University of Pennsylvania, Diverse, Blackstone, Investment, Linkedin, LinkedIn, Goldman, Barclays Locations: York, New York, Wayne , Pennsylvania, Miami, Asia, Africa

☆ Trump tells followers to 'GO AFTER' Meta and Google, citing censorship allegations shared by Elon Musk
▼ + stars: | 2024-07-30 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Read previewDonald Trump is again railing against Big Tech, accusing both Meta and Google of censoring content about him in "another attempt at RIGGING THE ELECTION!!!" In a post Tuesday on Truth Social, Trump referenced a photo taken after his assassination attempt that a Facebook communications exec previously acknowledged had been mistakenly fact-checked across the social network. The New York Post also reported Monday that after asking about the assassination attempt, Meta's AI assistant had responded that the event had never happened. Still, Trump urged his followers on Truth Social Tuesday to "GO AFTER META AND GOOGLE. Zuckerberg had called Trump a "badass" for surviving his assassination attempt, but that didn't stop Trump from threatening to send the Facebook cofounder to prison if he's elected.

Persons: —, Donald Trump, Trump, Dani Lever, Lever, Mark Zuckerberg, Zuckerberg, he's, Elon Musk, Elon Musk —, Harris • Donald Trump, Donald Trump Jr, Ted Cruz — Organizations: Service, Big Tech, Social, Facebook, Business, New York Post, Trump, Google

☆ Gold chains and leather jackets: The business deals behind the tech industry's most powerful bromance
▼ + stars: | 2024-07-30 | by ( Emma Cosgrove | ) 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 previewMeta CEO Mark Zuckerberg didn't let the tomatoes touch after he cut them into perfectly uniform slices. "In our company, I want every engineer and every software developer to have an AI or many AIs," Huang said to Zuckerberg. Huang and Zuckerberg have big stakes in that vision coming true, according to Paul Baier, CEO and principal analyst at GAI Insights. Huang needs to ensure LLMs keep building with Nvidia chips and Zuckerberg needs Huang's credibility to bolster his semi-open-source strategy.

Persons: —, Mark Zuckerberg didn't, Huang, Zuckerberg, Google's, Meta's, Meta, Paul Baier, Baier Organizations: Service, Business, Nvidia, Meta, Microsoft, AIs Locations: Hawaii

☆ Ever wanted to clone yourself? Meta can help with that.
▼ + stars: | 2024-07-30 | by ( Jaures Yip | ) www.businessinsider.com time to read: +1 min

Meta announced AI Studio in the US for creating custom AI characters. Users can personalize AI profiles to interact on Instagram, Messenger, WhatsApp, and the web. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The company announced Monday that it is rolling out AI Studio in the US, a tool for users to create their own custom AI character. Creators can use these AI profiles as extensions of themselves to talk to followers and friends on Instagram, Messenger, WhatsApp, and the web.

Persons: Meta, Mark Zuckerberg, — Organizations: Service, Business

☆ The tech industry wants to create an AI utopia. Its leaders think Universal Basic Income is the answer.
▼ + stars: | 2024-07-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

Read previewThe tech industry has grand plans for an AI utopia — and as models become ever more advanced, some tech leaders are calling for a form of universal basic income. But as AI companies race toward artificial general intelligence, the conversion is getting more urgent. Making AI work for everyoneMany of the people developing AI think a basic income system could help mitigate the tech's negative impact on workers. Recently, the OpenAI CEO also floated the idea of what he calls "universal basic compute." AdvertisementAnna Yelizarova, a project lead at the Future of Life Institute, said tech companies have discussed sharing access to the AI models themselves.

Persons: —, UBI, Jack Dorsey, Mark Zuckerberg, Elon Musk, Matthew Johnson, Geoffrey Hinton, Sam Altman, Jason Redmond, Johnson, they're, Scott Santens, Santens, computerization, there's, It's, Altman, Axel Springer, LLMs Altman, Anna Yelizarova Organizations: Service, Tesla, Business, Northumbria University, BBC Newsnight, Getty, Politico, Life Institute Locations: Paris, AFP

☆ AI risks destroying jobs. Tech leaders think they have the answer.
▼ + stars: | 2024-07-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

Read previewThe tech industry has grand plans for an AI utopia — and as models become ever more advanced, some tech leaders are calling for a form of universal basic income. But as AI companies race toward artificial general intelligence, the conversion is getting more urgent. Making AI work for everyoneMany of the people developing AI think a basic income system could help mitigate the tech's negative impact on workers. AdvertisementFor prominent tech figures, there's also a PR dimension to supporting the basic income concept, he said. AdvertisementAnna Yelizarova, a project lead at the Future of Life Institute, said tech companies have discussed sharing access to the AI models themselves.

☆ Mark Zuckerberg really wants you to know he's a chain guy now
▼ + stars: | 2024-07-30 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg has attracted attention for his style shift from awkward tech CEO to a more laid-back streetwear look. Now, the Meta CEO is embracing memes and using his new image to promote Meta's AI tools. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMark Zuckerberg can't get enough of his chains — and he's leaning into the memes about it to promote Meta's new AI tools. The internet was taken by his new aesthetic and the endearing story behind his chain, designed with his daughters in mind.

Persons: Mark Zuckerberg, — Organizations: Service

☆ Mark Zuckerberg predicts a future where nearly everyone is wearing AI-powered smart glasses
▼ + stars: | 2024-07-30 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg sees a future where we're all wearing AI-powered technology. Speaking with Nvidia CEO Jensen Huang at the SIGGRAPH conference on Monday, the Meta CEO said he foresees the rise of smart glasses in particular. AdvertisementMeta launched its smart glasses, a collaboration with the eyewear brand Ray-Bans, in 2021. Earlier this year, the company announced an update to Meta AI that enabled the tech to work for wearers. While the original Google Glass was a commercial flop, the recent advancements in AI technology have resulted in renewed interest in bringing the next generation of smart glasses to market.

Persons: Mark Zuckerberg, Jensen Huang, Zuckerberg, Huang, Ray, Ban Metas, let's, Ban, Oakley Organizations: Service, Nvidia, SIGGRAPH, Business, Meta, Inc, Google Locations: WhatsApp

☆ Nvidia's Jensen Huang and Mark Zuckerberg traded jackets and compliments while talking about AI
▼ + stars: | 2024-07-30 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNvidia's Jensen Huang and Meta's Mark Zuckerberg swapped jackets once again. This time, Zuckerberg gifted Huang another black leather jacket, though this one was bulkier and had a hood similar to Zuckerberg's brown coat. In return, Huang gave Zuckerberg the black leather jacket off his back. Following his talks with Huang, Zuckerberg posted a video of him trying on a large gold chain gifted to him by rapper and singer T-Pain.

Persons: —, Nvidia's Jensen Huang, Mark Zuckerberg, Zuck's, Huang, Zuckerberg, it's, Zuckerberg —, Meta, Ban, we're Organizations: Service, Business, Meta, Ray, Nvidia Locations: tech's, Asia

☆ Zuck got so excited talking open platforms and AI with Jensen Huang that he dropped a big old F-bomb
▼ + stars: | 2024-07-30 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg dropped an F-bomb while discussing closed vs. open-source AI during a Monday conversation. The Meta CEO let out the expletive while in conversation with Nvidia CEO Jensen Huang. Zuckerberg's comments come days after Meta announced its new, open-source AI model, Llama 3.1. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeta CEO Mark Zuckerberg dropped an impassioned expletive while discussing open-source AI with Nvidia CEO Jensen Huang during a live conversation on Monday.

Persons: Mark Zuckerberg, Jensen Huang, —, Zuckerberg, Huang Organizations: Nvidia, Meta, Service, Business

☆ Meta agrees to $1.4 billion settlement in Texas biometric data lawsuit over Facebook images
▼ + stars: | 2024-07-30 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Meta has agreed to pay $1.4 billion to settle a lawsuit by the state of Texas over the Facebook owner's unauthorized use of biometric data by users, Texas Attorney General Ken Paxton said Tuesday. The suit, filed by Paxton in February 2022, accused Meta of capturing and using the biometric data of millions of Texas residents — which was contained in uploaded photos and videos on Facebook — without legally required permissions. Meta will pay out the $1.4 billion to Texas over five years, the office said. "Any abuse of Texans' sensitive data will be met with the full force of the law," Paxton said. Paxton's office is continuing to press a lawsuit against Alphabet , which accuses the Google owner of illegally collecting biometric data from millions of Texans.

Persons: Mark Zuckerberg, Meta, Ken Paxton, Paxton, McKool Smith, Keller Postman Organizations: U.S, Capitol, Facebook, Texans, Meta, CNBC Locations: Washington , U.S, Texas, Meta, Harrison County

How the election is dividing techThe tech world has long been divided by rivalries: Macs versus PCs, open source versus closed source. It’s a reminder, as DealBook has noted, that Silicon Valley’s libertarian wing is feeling more emboldened to flex its money and influence to buck what has become a traditionally Democratic consensus. Who’s who: Some of the most vocal Democratic donors among the tech elite are Hoffman; Vinod Khosla, the venture capitalist; Aaron Levie, the C.E.O. On the Republican side are a camp of libertarians that includes Musk and the investors Peter Thiel, David Sacks, Marc Andreessen and Ben Horowitz. Then there are those staying neutral, including Mark Zuckerberg of Meta, who are ostensibly trying to avoid antagonizing whoever wins in November.

Persons: Elon Musk, Reid Hoffman, Ryan Mac, Erin Griffith, Mike Isaac, DealBook, Who’s, Hoffman, Vinod Khosla, Aaron Levie, Roger McNamee, Peter Thiel, David Sacks, Marc Andreessen, Ben Horowitz, Mark Zuckerberg, Meta Organizations: Republican

☆ Why Silicon Valley Is Going to War Against the Media, Journalists
▼ + stars: | 2024-07-30 | by ( ) www.businessinsider.com time to read: +21 min

Just 20 years ago journalists covered the tech industry "like it didn't matter, like it was this hobbyist, interesting, plucky thing." The pro-tech media gives tech's main characters the chance to write their way back to the original storyline. Trae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Related storiesTrae Stephens, a partner at Founders Fund, described Pirate Wires as a kind of daily affirmation for Silicon Valley. Of the members of the news media I talked to about pro-tech media, some were backhandedly laudatory.

Persons: Mike Solana, Solana, Peter Thiel, —, David Sacks, Jason Calacanis, Chamath Palihapitiya, David Friedberg, Elon Musk, Sam Altman, Tucker Carlson, Donald Trump, There's, Coogan, John Coogan, Andreessen Horowitz, Marc Andreessen, they're, Balaji Srinivasan, Mark Zuckerberg, Donald Trump's, Tyler Le, Sam Bankman, Warren Buffett, Trae Stephens, Andreessen, Palmer Luckey, It's, Dick Lucas, Lucas, Joe Rogan, Kamala, Stephens, Packy McCormick, Taylor Lorenz, Ryan Mac, Kevin Roose, Jesse Singal —, Casey Newton, Casey isn't, Casey, Newton, Erik Torenberg, Anthony Fauci, Ellen Pao, Katherine Maher, George Soros, Joe Biden, Chesa Boudin, Boudin, Gavin Newsom, Palihapitiya, Sacks, Trump, JD Vance, Brian Merchant, Ben Smith, Eric Newcomer, he's, Lulu Cheng Meservey, Balaji Srinivasan's, Zoë Bernard Organizations: Fund, Tech, Founders Fund, Apple, Elon, Elite, Sequoia Capital, Pirate, Penguin Group, Big Tech, Card Industry, Washington Post, TechCrunch, Media, NPR, Google, Disney, Twitter, Republican National Convention, Bloomberg, monetization, San, Business Locations: San Francisco, Substack, Silicon Valley, New York, Silicon, Solana, Miami, Francisco, California, Los Angeles

☆ Apple says its AI models were trained on Google's custom chips
▼ + stars: | 2024-07-29 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple said on Monday that the artificial intelligence models underpinning Apple Intelligence, its AI system, were pretrained on processors designed by Google, a sign that Big Tech companies are looking for alternatives to Nvidia when it comes to the training of cutting-edge AI. Apple's choice of Google's homegrown Tensor Processing Unit (TPU) for training was detailed in a technical paper just published by the company. Separately, Apple released a preview version of Apple Intelligence for some devices on Monday. Apple doesn't name Google or Nvidia in its 47-page paper, but did note its Apple Foundation Model (AFM) and AFM server are trained on "Cloud TPU clusters." "This system allows us to train the AFM models efficiently and scalably, including AFM-on-device, AFM-server, and larger models," Apple said in the paper.

Persons: Apple, they've, Mark Zuckerberg, Sundar Pichai, Zuckerberg, Emily Chang Organizations: Apple Intelligence, Google, Big Tech, Nvidia, Microsoft, Meta, Oracle, Apple Foundation, Apple

The busiest week of earnings season has arrived, with about 160 of the S & P 500 companies set to report, and some stocks could see major moves on the back of those releases. The S & P 500 and Nasdaq Composite fell last week as investors rotated out of technology sector winners in favor of beaten-down small-cap names. With this in mind, CNBC Pro screened FactSet data to find stocks that could see big moves on the back of their earnings reports. To be exact, 55 of the 63 analysts covering it have a buy or strong buy rating. While Meta is down more than 6% over the past month, shares are up more than 33% in 2024.

Persons: Donald Trump's, Trump, that's Zuckerberg, Carvana, Rajat Gupta, Wolfe, Shweta Khajuria Organizations: Wall, Nasdaq, CNBC Pro, Bloomberg, Hertz, Meta, Wolfe Research

☆ Lady Gaga's fiancé is a tech CEO who went to Harvard with Mark Zuckerberg
▼ + stars: | 2024-07-29 | by ( Avery Hartmans | Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Polansky appears to have been involved in several of Parker's other ventures since 2010. Polansky and Parker's working relationship goes back many years. Theo Wargo/Getty Images for Global CitizenAccording to his LinkedIn page, he's the executive director of the Parker's charity, the Parker Foundation; he's a board member at the Parker Institute for Cancer Immunotherapy; he's managing partner at Parker Ventures; and he's CEO of the Parker Group, which serves as the umbrella organization for all of Parker's other endeavors. According to Pitchbook, Polansky is also cofounder of VC firm Hawktail; executive advisor at private equity firm Cove Hill Partners; senior advisor at boutique VC growth investor 7 Global Capital; and partner at investment firm Unless Management. Gaga also founded the nonprofit Born This Way Foundation, which focuses on mental health and youth empowerment, in 2012.

Persons: Polansky, Theo Wargo, Pitchbook, Gaga, Coco Chanel Organizations: Global Citizen, Parker Foundation, Parker Institute for Cancer, Parker Ventures, Parker Group, Partners, Global, Management, Haus Labs

☆ Big Tech is preparing to report its earnings. The results could make or break the AI rally.
▼ + stars: | 2024-07-29 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewFor a while now, AI stocks have seemingly had the ability to defy gravity. This week, tech companies central to the generative AI boom, including Amazon, Apple, Microsoft, and Meta, report earnings at a time when the market rally they've helped drive teeters on the brink of a correction. If its Big Tech peers also struggle to tell investors that AI isn't just sucking up cash, we might see the AI rally lose some steam. AI hype faces a major testThe rationale behind why AI stocks have been able to defy gravity is pretty simple. Since March, gains in the S&P 500 have been driven by chip firms like Nvidia and the so-called "Fab Five" AI Big Tech stocks, including Alphabet, Amazon, Apple, Microsoft, and Meta.

Persons: —, they've, robotaxis, Sundar Pichai, Jensen Huang, Tim Cook, Meta's Mark Zuckerberg, Satya Nadella, OpenAI, Dan Ives Organizations: Service, Apple, Microsoft, Meta, Nasdaq, Tesla, Google, Business, Big Tech, Apple Intelligence, Nvidia Locations: Silicon

☆ The 'great rotation' faces its biggest test yet: earnings from Microsoft, Meta, Apple and Amazon
▼ + stars: | 2024-07-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +15 min

That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.

Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, —, Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri

☆ Donald Trump threatened to imprison Mark Zuckerberg if re-elected. Here's a look at his long feud with the Meta CEO.
▼ + stars: | 2024-07-28 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Trump has seemingly changed his mind on a TikTok ban, seemingly because of how it would likely benefit Meta. Trump backed a TikTok ban while in office but now says he is "for TikTok" because the alternatives are Zuckerberg's Facebook and Instagram. NurPhoto/Getty ImagesWhile in office, Trump signed an executive order to ban TikTok, which President Biden revoked upon taking office after Trump. Trump now views a TikTok ban differently. "If you don't have TikTok, you have Facebook and Instagram, and that's, you know, that's Zuckerberg."

Persons: Trump, Biden, that's Zuckerberg Organizations: Facebook, Trump, Bloomberg Businessweek

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