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☆ 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

☆ 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

☆ 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

☆ Here are twelve of the world's youngest billionaires — and how they got their money
▼ + stars: | 2024-07-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

The youngest billionaires in 2024 owe their fortune to family inheritance, according to Forbes. This marks the first time in 15 years without self-made billionaires under 30. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But unlike previous entries on this list, which include disgraced FTX cofounder Sam Bankman-Fried and Meta CEO Mark Zuckerberg, all of the youngest billionaires in 2024 have family succession to thank for their fortunes. According to Forbes, it's the first time in 15 years that there aren't any self-made billionaires under 30.

Persons: —, Sam Bankman, Mark Zuckerberg, Forbes, it's Organizations: Forbes, Service, Business

☆ Sam Altman, under fire from Elon Musk, has now offered his own vision of open-source AI
▼ + stars: | 2024-07-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI CEO Sam Altman has a vision for open-source AI, and it's not far from what the company's former cofounder, Elon Musk, has been asking for. But what's notable in Altman's proposal was how he highlighted the role open-source AI models could have in strengthening America's hold on the field. AdvertisementTo be sure, Musk also has some reservations about how open AI models should be. Advertisement"I believe that open source is necessary for a positive AI future," Zuckerberg wrote in a blog post on the same day. "There is an ongoing debate about the safety of open source AI models, and my view is that open source AI will be safer than the alternatives.

Persons: —, Sam Altman, it's, Elon Musk, Altman, Altman's, Musk, pummeling Altman, OpenAI, OpenAI's, Ilya Sutskever, Sutskever, Musk didn't, Mark Zuckerberg, Meta, Zuckerberg Organizations: Service, The Washington, Business, Google, Microsoft, OpenAI, Business Insider

☆ How the AI revolution could cost you your job without replacing you
▼ + stars: | 2024-07-26 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

But as tech firms plan to invest billions of dollars in generative AI technologies, there's been another explanation for job cuts. While there's been a mountain of speculation about if and when AI technologies like ChatGPT could displace workers, their near-term impact on job losses could be less about job replacement and more about the cost of AI investments. The risks of AI job replacement remains to be seenIn the big picture, Netzer said he expects AI technologies to be an "enhancer rather than a replacer of jobs" in the years ahead. Advertisement"For many jobs, AI is likely to enhance our job, allowing us to spend more time on the things we enjoy doing and less time on the mundane," he said. AdvertisementBenedikt Frey pointed to translators as one profession that has seen fewer employment opportunities due to generative AI, per his research.

Persons: —, there's, Goldman Sachs, Mark Zuckerberg, Meta, Sundar Pichai, Daniel Rausch, Dan Ives, It's, Carl Benedikt Frey, Netzer, Benedikt Frey Organizations: Service, Apple, Microsoft, Industry, Business, Google, Amazon, Alexa, Fire, Wedbush Securities, Big Tech, FT, Columbia Business School, University of Oxford

☆ Elon Musk is still insisting he's down to fight Mark Zuckerberg: 'Any place, any time, any rules'
▼ + stars: | 2024-07-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk says his offer to fight Mark Zuckerberg still stands. "I'll fight Zuckerberg any place, any time, any rules," he said on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is impressed with Meta's latest AI model, but he's still raring for a bout in the ring with Mark Zuckerberg. "I'll fight Zuckerberg any place, any time, any rules," Musk told reporters in Washington on Wednesday.

Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Meta, —, Benjamin Netanyahu's Organizations: Service, Capitol, Business Locations: Washington

☆ Zuck says he used to be awkward but is getting 'more comfortable just being me' as he gets older
▼ + stars: | 2024-07-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg says he's becoming more comfortable with himself as he gets older. The Meta CEO reflected on his early-career awkwardness in a recent Threads reply. The Meta CEO, who turned 40 in May, recently replied to a Threads post commenting on his evolving public persona. In a response to the post, Zuckerberg said when he was 19 years old he "didn't know anything about running a company, communicating publicly, etc." This story is available exclusively to Business Insider subscribers.

Persons: Mark Zuckerberg, he's, Zuckerberg, — Organizations: Service, Facebook, Business

☆ Tech's splurge on AI chips has companies in 'arms race' that's forcing more spending
▼ + stars: | 2024-07-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 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 CEO Mark Zuckerberg has been assembling a large stockpile of Nvidia chips, spending billions of dollars so his company can develop and train advanced artificial intelligence models. But even he says the AI hype may be driving too much investment. Meta debuted its latest Llama AI model on Tuesday. The model, dubbed Llama 3.1, comes in three different versions, with one variant being the biggest and most capable AI model from Meta to date.

Persons: Mark Zuckerberg, Zuckerberg, Emily Chang, He's, Sundar Pichai, Pichai Organizations: Meta, Nvidia, Microsoft, Amazon, Oracle, Tesla Locations: Menlo Park , California

☆ Kamala Harris wants to be America’s first Silicon Valley president. She has tech’s support
▼ + stars: | 2024-07-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN —With Vice President Kamala Harris the front runner to receive the Democratic Party’s nomination for president, America’s most powerful industry is set to have a candidate on the ballot from its home turf. Harris’ failed 2020 presidential bid received support from various tech luminaries, including Salesforce CEO Marc Benioff and legendary venture capitalist Ron Conway. Despite her friendly relationships with the industry’s leaders, Harris has also pushed for tech accountability in key areas. As vice president, Harris has taken a key role in the White House around establishing safety measures for artificial intelligence, which is widely viewed as the most consequential new technology in decades. In an interview with CNN, Hoffman added: “In Silicon Valley, actually there’s many threads that are very excited about her.

Persons: Kamala Harris, Harris, Sheryl Sandberg, Reed Hastings, Melinda French Gates, Donald Trump’s, Elon Musk, “ There’s, Biden, ” Aaron Levie, “, ” Harris, Sean Parker, she’s, Steve Jobs ’, Laurene Powell Jobs, Harris ’, Marc Benioff, Ron Conway, Mark Zuckerberg, ” Jeffrey Sonnenfeld, Trump Harris, Trump, ” Sonnenfeld, I’ve, didn’t, ” Levie, “ Kamala Harris, Reid Hoffman, Hoffman, …, – CNN’s Matt Egan Organizations: New, New York CNN —, Democratic, Bay Area, Netflix, White, CNN, Cambridge, OpenAI, Google, Microsoft, Yale School of Management, Trump Locations: New York, Oakland , California, California, White, Silicon Valley, Silicon

☆ Mark Zuckerberg agrees with Elon Musk that OpenAI's name is misleading but says Sam Altman deserves credit for how he runs the ChatGPT maker
▼ + stars: | 2024-07-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Elon Musk has long criticized OpenAI for building closed-source AI models despite its name. Now, Mark Zuckerberg is dishing out the same criticism, calling the name "somewhat ironic" in a new interview. But, Zuck added, Sam Altman "deserves a lot of credit" for how he runs OpenAI and handles scrutiny. AdvertisementMonths after nearly duking it out in a cage fight, it looks like Mark Zuckerberg and Elon Musk have found common ground: They both think OpenAI is a misnomer. Zuckerberg suggested the AI organization headed by Sam Altman is ill-named in a Bloomberg Originals interview released Tuesday.

Persons: Elon Musk, Mark Zuckerberg, Zuck, Sam Altman, —, Zuckerberg, that's, it's Organizations: Service, Bloomberg, Business

☆ Mark Zuckerberg is asking the audience to help rate his AI-generated drip
▼ + stars: | 2024-07-24 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg put together AI-generated photos of him in various outfits. The images, created by Meta AI, included one of him buried in ridiculously large gold chains. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMark Zuckerberg may be looking for his next style era after asking the internet on Tuesday to choose between four AI-generated photos of him in outfits.

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

☆ Mark Zuckerberg is tired of playing by Apple's rules
▼ + stars: | 2024-07-24 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Read previewMark Zuckerberg sounds tired of having to navigate Apple's restrictions. "One of my formative experiences has been building our services constrained by what Apple will let us build on their platforms," Zuckerberg wrote. Zuckerberg expanded on his critique of Apple in an interview with AI news YouTuber Rowan Cheung, also published Tuesday. "Compared to the Apple approach of coupling your operating system with the device, the Windows approach was a more open ecosystem," he said. AdvertisementAnd Zuckerberg hopes Meta will also be on the winning side.

Persons: —, Zuckerberg, OpenAI, Rowan Cheung, doesn't, David Wehner, Zuck, Meta, I've Organizations: Service, Apple, Business, Meta, Apple Intelligence

☆ Europe's AI-powered Google Translate rival DeepL launches traditional Chinese language in Asia push
▼ + stars: | 2024-07-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Traditional Chinese is a written form of Chinese used in Taiwan and Hong Kong. Both locations are key business hubs for technology and finance — a factor that attracted DeepL to launch its latest language in those markets. DeepL, one of Europe's high-profile AI companies valued at $2 billion , sells translation software aimed at businesses rather than everyday consumers. German artificial intelligence translation startup DeepL on Wednesday launched traditional Chinese as a language option as it looks to expand its presence in Asia. With the launch of traditional Chinese, the firm is looking to help some of its international customers more effectively communicate with clients or employees in Taiwan or Hong Kong.

Persons: DeepL, Kutylowski, Mark Zuckerberg's Organizations: Wednesday, CNBC, Google, Microsoft, Ventures Locations: Taiwan, Hong Kong, Asia, The Cologne, Germany, Japan, Korea

☆ Mark Zuckerberg explains his hiring philosophy
▼ + stars: | 2024-07-24 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

But Meta CEO Mark Zuckerberg said in an interview with Bloomberg's Emily Chang published Tuesday that the most important thing is "learning how to think critically and learning values when you're young." Zuckerberg said in the interview that his "hiring philosophy" follows this line of thought. It's not the first time the CEO has talked about considering a candidate's values when hiring. While Zuckerberg may have a strict standard for hiring candidates, the tech giant has slowed its hiring compared to the pandemic-era growth. Zuckerberg said earlier this year the company would continue to limit its head count and hiring plans would remain "relatively minimal."

Persons: —, Mark Zuckerberg, Emily Chang, Zuckerberg, they've, It's, Reid, Sheryl Sandberg, Sandberg Organizations: Service, Business, Meta, Facebook, CNN

☆ Everybody seems to love Zuck right now
▼ + stars: | 2024-07-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg won praise from CEOs for open-sourcing Meta's AI model, Llama 3.1. Shopify's CEO called the model an "incredible gift," and even Elon Musk said he "does deserve credit." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf there were a Big Tech CEO popularity contest, Zuck might well be taking the crown right now. Even Elon Musk gave Zuck a rare nod of approval.

Persons: Mark Zuckerberg, Elon Musk, —, Zuck Organizations: Service, Big Tech, Business

☆ Mark Zuckerberg says his weird tan is just a tan — not a hint about a new product.
▼ + stars: | 2024-07-24 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

What's up with Mark Zuckerberg's face? Maybe he's trying to tell us something? download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen is a tan line just a tan line? But it was one I had Tuesday, when I saw a new video interview with Mark Zuckerberg.

Persons: Mark Zuckerberg's, —, Mark Zuckerberg Organizations: Service

☆ Elon Musk has finally found something that he can agree with Mark Zuckerberg on
▼ + stars: | 2024-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk and Mark Zuckerberg nearly got into a cage fight after Meta tried to dethrone X with Threads. Musk paid Zuckerberg a rare compliment after Meta released its latest AI model on Tuesday. AdvertisementElon Musk has long been at loggerheads with Mark Zuckerberg. But there is at least one subject on which Musk can see eye to eye with Zuckerberg. On Tuesday, Musk offered a rare compliment to Zuckerberg after Meta released its latest AI model, Llama 3.1.

Persons: Elon Musk, Mark Zuckerberg, Meta, Musk, Zuckerberg, — Organizations: Meta, Service, Zuckerberg, OpenAI's, Business

☆ Meet peak summertime Zuck
▼ + stars: | 2024-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

On Tuesday, Mark Zuckerberg hit the interview circuit to promote Meta's latest AI model, Llama 3.1. The Meta CEO had a very visible sunglasses tan in one of his interviews. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Zuckerberg gave an interview to AI newsletter writer Rowan Cheung on Tuesday, after Meta released its latest AI model, Llama 3.1, on Tuesday. While the Meta CEO was there to hype his company's latest AI offering, the interview was just as notable for Zuckerberg's visible sunglasses tan.

Persons: Mark Zuckerberg, Zuckerberg, —, Rowan Cheung Organizations: Service, Meta

☆ How Mark Zuckerberg's old teaching assistant at Harvard rose to become Meta's CTO and a key lieutenant
▼ + stars: | 2024-07-23 | by ( Isobel Asher Hamilton | Sarah Jackson | ) www.businessinsider.com time to read: +1 min

As Meta continues pursuing AR and VR, Boz has also been vocal on one of its biggest rivals in the space: Apple. Boz and Zuck have both been critical of the Apple Vision Pro headset. Justin Sullivan/Getty ImagesBoz said Apple's mixed-reality headset, a rival to Meta's Quest VR headsets, was "very uncomfortable to use." And it's distributed poorly," he said shortly after the Vision Pro launched in the US in February. He's also shot down speculation that Meta rushed to announce its Quest 3 headset ahead of Apple's Vision Pro debut.

Persons: Meta, Boz, Zuck, Justin Sullivan, Apple's, He's Organizations: Apple, Meta's, Vision Pro, Apple's, Meta Locations: WWDC

Meta on Tuesday announced the latest version of its Llama artificial intelligence model. Nvidia is a key Meta partner and provides the social networking giant with the computing chips called GPUs to help train its AI models, including the latest version of Llama. For example, Meta said that Llama model announced on Tuesday was trained on 16,000 of Nvidia's H100 graphics processors. But open-source models can cost hundreds of millions or billions of dollars to create. There aren't many companies that are financially able to develop and release open-source models with similar amounts of investment.

Persons: Mark Zuckerberg, Meta, Zuckerberg, Jensen Huang, Ash Jhaveri, We're, Jhaveri, WhatsApp Organizations: Meta, Google, Nvidia, Amazon Web Services, Microsoft, CNBC Locations: Tokyo, Dell, U.S

☆ Mark Zuckerberg Stumps for ‘Open Source’ A.I.
▼ + stars: | 2024-07-23 | by ( Mike Isaac | ) www.nytimes.com time to read: +1 min

That debate — closed versus open source — has become inflamed by the rapid development of artificial intelligence and worries that A.I. In an open letter on Tuesday, Mark Zuckerberg, the chief executive of Meta, reinforced what some said was a risky stance taken by his company: that open source development of artificial intelligence would allow technologists to learn how powerful A.I. models are created and use that knowledge to build their own A.I. Mr. Zuckerberg said it was unrealistic to think that a handful of companies could keep their A.I. technology secret, particularly when Silicon Valley has for years been a target for espionage by countries such as China.

Persons: Mark Zuckerberg, Zuckerberg Organizations: Meta Locations: China

☆ Mark Zuckerberg posted this pic in February. Someone just spotted an interesting object in the background.
▼ + stars: | 2024-07-22 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg posted a picture in February of him in Facebook's early days and this year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA photo Mark Zuckerberg shared in February may unintentionally offer some insight into Meta's roadmap for its AR hardware. It shows two images of Zuckerberg at a desk working on Facebook, one from the tech giant's early days and a more current pic. This story is available exclusively to Business Insider subscribers.

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

How did the Democrats lose Silicon Valley? The loudest donors in Silicon Valley are promoting Trump at a time when the tech world as a whole is ascending in Washington, with billionaires using their ballooning wealth and media foothold to exert influence. Their voices are made all the more prominent amid the conspicuous neutrality of Big Tech leaders like the Google C.E.O. Sundar Pichai and the Meta chief Mark Zuckerberg, who are possibly afraid of invoking Trump’s ire and employee backlash. Musk was brushed off by President Biden over his anti-union stance and excluded from an electric vehicle event at the White House in 2021.

Persons: Elon Musk, David Sacks, Marc Andreessen, Trump’s, Sundar Pichai, Mark Zuckerberg, Biden, Tesla Organizations: Elon, Trump, Big Tech, Google, White House Locations: Silicon Valley, Washington

☆ Mark Zuckerberg calls Donald Trump a 'badass' after the former president threatened him with prison
▼ + stars: | 2024-07-19 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

Read previewMeta CEO Mark Zuckerberg called former President Donald Trump's reaction to getting shot "badass," although he declined to endorse him in an interview with Bloomberg released Friday. Just a few days ago, in a different interview with Bloomberg, Trump reiterated his beef with Zuckerberg. If you don't have TikTok, you have Facebook and Instagram, and that's, you know, that's Zuckerberg. The more notable thing he said was reiterating Meta's stance on limiting political content in people's feeds on Facebook, Instagram, and Threads. Speaking of aesthetics, Zuckerberg also committed to his new look by wearing a gold chain during the Bloomberg interview.

Persons: —, Mark Zuckerberg, Donald Trump's, Bloomberg's Emily Chang, Zuckerberg, Meta, wouldn't, Donald Trump, Trump, that's Zuckerberg, It's, Elon, Musk, Anna Moneymaker Organizations: Service, Bloomberg, Meta, Business, Trump, Big Tech, Facebook

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