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☆ FDA approves Bristol Myers Squibb's schizophrenia drug, the first new type of treatment in decades
▼ + stars: | 2024-09-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Food and Drug Administration on Thursday approved Bristol Myers Squibb 's highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades. Bristol Myers Squibb expects the twice-daily pill, which will be sold under the brand name Cobenfy, to be available in late October, executives told CNBC. Cobenfy could also be a huge long-term sales opportunity for Bristol Myers Squibb, which faces pressure to offset the potential loss of revenue from top-selling treatments that will see their patents expire. But they said the drug will likely have a slow launch, so it may not meaningfully contribute to Bristol Myers Squibb's top line in 2024 and 2025. "We've helped people, we've improved outcomes, we've provided caregivers and physicians with another tool that they can use."

Persons: Bristol Myers, Cobenfy, Guggenheim, doesn't, Andrew Miller, We've, we've Organizations: Drug Administration, Bristol, Bristol Myers Squibb, CNBC, Karuna Therapeutics Locations: U.S

☆ Australia's inflation rate has come within its target range, but rate cuts likely won't come anytime soon
▼ + stars: | 2024-09-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Australia's inflation rate has come within the RBA's target range in the month of August, easing from 3.5% in July to 2.7%., according to a Wednesday release from the country's Bureau of Statistics. The drop puts the rate below the Reserve Bank of Australia's target range of 2%-3% for the first time since August 2021. He said that while the relief programs will bring headline inflation to the top of the RBA's target range, the RBA will be "looking through" these subsidies and focusing on core inflation. He writes, "the path of core inflation back to the target range has stalled somewhat, and it is hard to see a major improvement in the near term. We think the bank will need to see three more inflation prints before they are comfortable embarking on an easing cycle."

Persons: Australia's, Michelle Bullock, Bullock, Sean Langcake, Langcake Organizations: Statistics, Reserve Bank, U.S . Federal Reserve, Fed, ., Australia's Locations: SYDNEY, AUSTRALIA, Sydney, Australia, country's, Oxford

☆ Weight-loss drugs are life-changing — and expensive. Here's one woman's solution.
▼ + stars: | 2024-09-26 | by ( ) www.businessinsider.com time to read: +7 min

A woman who had life-changing results on a popular weight loss drug struggled to afford it for years. AdvertisementTara Rothenhoefer, a 49-year-old Florida resident, says her life changed when she joined a clinical trial for a promising new weight-loss medication. While regulated, these compounded drugs aren't FDA-approved, raising concerns from doctors about variations in quality. The grey market of weight-loss drugs is vast and complicated. In August, Eli Lilly halved the price of its weight-loss drug Zepbound through single-dose vials — a bid to lure customers back to brand-name drugs, analysts said.

Persons: —, Tara Rothenhoefer, Rothenhoefer, Eli Lilly, She's Organizations: Service, Novo Nordisk's, Research, FDA, Pharmaceutical Locations: Florida

☆ Stocks making the biggest moves midday: Micron Technology, Super Micro Computer, Southwest Airlines and more
▼ + stars: | 2024-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Southwest Airlines — The airline jumped 11% after it raised its third-quarter revenue forecast and authorized $2.5 billion in share buybacks. Starbucks — The coffee chain rose nearly 2% after Bernstein upgraded shares to outperform , citing confidence in the company's new CEO . CarMax — The used car retailer jumped nearly 6% after topping sales estimates for the fiscal second quarter. New York Community Bank — Shares of the regional lender jumped nearly 8% after Barclays upgraded the stock to overweight from equal weight. Accenture — The professional services stock rose nearly 5% on better-than-expected fiscal fourth quarter results.

Persons: Bernstein, Jabil, Goldman Sachs, Goldman, Morgan Stanley, Erik Woodring, —, Jesse Pound, Yun Li, Alex Harring, Pia Singh, Hakyung Kim Organizations: Micron Technology, Applied Materials, ASML, Lam Research, Wall Street Journal, Justice Department, Southwest Airlines —, Elliott Investment Management, Starbucks, NRG Energy, GE Healthcare —, UBS, Jefferies, New York Community Bank, Barclays, Bilibili, Accenture Locations: China, Bilibili —

☆ Alex Jones' empire is getting stripped for parts. It won't be the last of him.
▼ + stars: | 2024-09-26 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

Read previewAlex Jones' conspiracy theory empire Infowars will be sold off for parts to pay off a fraction of his massive court judgments — but it likely won't be the end of the far-right commentator. In a court hearing on Tuesday, a Texas bankruptcy judge announced that he will approve the auctioning off of Infowars' parent company, Free Speech Systems, which Jones fully owns, according to The Associated Press. The auction is a result of Jones agreeing in June to liquidate his assets after both he and Free Speech Systems filed separately for bankruptcy in 2022. Advertisement"It's very cut and dry that the assets of Free Speech Systems, the website, the equipment, the shopping cart, all that, can be sold," Jones said. The bankruptcy trustee overseeing Jones' assets said in court this week that some potential buyers have already expressed interest in getting a piece of Free Speech Systems, NPR reported.

Persons: —, Alex Jones, Jones, Sandy Hook, CNN —, he'd, it's, Infowars Organizations: Service, Free Speech Systems, Associated Press, Business, ThreeSixty, Speech Systems, CNN, NPR Locations: Texas, Sandy

☆ OpenAI has 4 big challenges it needs to conquer in its quest for AI dominance
▼ + stars: | 2024-09-26 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +9 min

OpenAI bleeds C-suite executivesAs OpenAI chases a massive fundraising round, the startup continues to deal with a staff exodus. The nonprofit side of OpenAI will still exist and have a minority stake in the for-profit company, the sources told Reuters. "Given the ambitions of OpenAI, a non-profit structure has been too constraining. AdvertisementThe debate over whether OpenAI should be a for-profit company has been a bone of contention for one very vocal tech industry bigwig — Elon Musk. Park, the corporate law expert, told BI that the for-profit governance structure could also leave OpenAI vulnerable to greater government scrutiny.

Persons: —, OpenAI, Mira Murati, Sam Altman's, Murati, Barret Zoph, Bob McGrew, Altman, Greg Brockman, Wojciech Zaremba, Brockman, Ilya Sutskever, John Schulman, Peter Deng, Sutskever, James, I'd, Slack, Gene Munster, She's, Mira, — Elon, Musk, Gary Marcus, Marcus, Musk's, Mark Zuckerberg, xAI, Sam Altman, Munster Organizations: Service, Technology, Business, Microsoft, Nvidia, Wired, University of California, OpenAI, Bloomberg, Deepwater Asset Management, Reuters, Intelligence, Guardian, Meta Locations: It's, OpenAI, Los Angeles

☆ 10 things to watch in the stock market Thursday, including the Micron-fueled chip rally
▼ + stars: | 2024-09-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

10 things to watch Thursday, Sept. 26 — Today's newsletter was written by the Investing Club's director of portfolio analysis, Jeff Marks. China stocks rallied again — this time on signs the Chinese government is prepared to add fiscal stimulus to this week's central bank monetary stimulus. Nvidia and Advanced Micro Devices are Club stocks. China stocks rallied again — this time on signs the Chinese government is prepared to add fiscal stimulus to this week's central bank monetary stimulus. Nvidia and Advanced Micro Devices are Club stocks.

Persons: Jeff Marks, Jim Cramer, Bernstein, Brian Niccol, that's, Mark Zuckerberg, Jensen Huang, Elliott, Truist, Eaton, Morgan Stanley, Jefferies, Hershey, Jim Cramer's, Jim Organizations: Micron, AMD, Nvidia, Devices, Starbucks, Club, GE Healthcare, UBS, Bank of America, JPMorgan, Meta, Southwest Airlines, Elliott Management, GE, Jefferies, Wells, Jim Cramer's Charitable, CNBC Locations: China

OpenAI is said to be closing a funding round that could value the company at as much as $150 billion. "Kushner is betting the ranch on OpenAI and Sam Altman just as Masa Son pledged 40% of his Vision Fund on Yahoo and Jerry Yang. "Second, Sam Altman has proven himself to be one of the greatest tech founders of this generation. Sam Altman has said that AI superintelligence could be a reality within "a few thousand days ." "Everybody wants Sam Altman at the helm, and they're willing to do anything to keep him as the CEO.

Persons: OpenAI, —, Sam Altman, ChatGPT, Mira Murati, Bob McGrew, Barret Zoph, Murati's, John Schulman's, Joe Aaron, Aaron, Capital's Josh Kushner, Kushner, Masa Son, Jerry Yang, Jerry Yang wasn't, Jai Das, Goldman Sachs, who's, Altman, they've, Ben Narasin, They're Organizations: Service, Research, Post, Reuters, Nvidia, Apple, Fund, Yahoo, Sapphire Ventures, Venture Locations: Silicon, UAE, OpenAI

☆ NY appeals court on Thursday to hear arguments on Trump’s $454 million civil fraud judgment
▼ + stars: | 2024-09-26 | by ( Kara Scannell | Jeremy Herb | ) edition.cnn.com time to read: +4 min

CNN —A New York appeals court is set to hear arguments Thursday in former President Donald Trump’s bid to have the $454 million civil fraud judgment against him dismissed. The appellate hearing is yet another legal development for Trump playing out the same time as his presidential campaign hits the homestretch. In addition to the civil fraud appeal, Trump’s lawyers have argued to dismiss the guilty verdict in the New York criminal case, the federal election interference case in Washington, DC, and the E. Jean Carroll defamation verdict – all in the past month. The judgment against Trump was for $354 million, with an additional $100 million in interest that had accrued when the judge’s ruling was issued in February. “The award of $464 million in a case with no victims, no proven injuries, and no losses is not remotely defensible,” Trump’s lawyers wrote.

Persons: Donald Trump’s, Jean Carroll, Arthur Engoron, Trump, Donald Trump Jr, Eric Trump, Engoron, ’, ”, “ Organizations: CNN, Trump, New Locations: York, New York, Washington ,

☆ UK finance chiefs are banging the drum for one major reform to boost economic growth
▼ + stars: | 2024-09-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country. William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to economic growth, alongside skills and education, and regulation. "If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. "For me, pension reform is the way to unlock growth in the U.K.," Lee told "Squawk Box Europe." UK pensions reviewU.K. Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.

Persons: Ian Forsyth, —, William Vereker, Vereker, Muirinn O'Neill, we're, Tiina Lee, Lee, it's, Rachel Reeves, Tulip Siddiq Organizations: Labour Party Conference, ACC Liverpool, Getty, Labour, Santander U.K, Citi U.K, CNBC, Finance, Treasury Locations: Liverpool, England, ENGLAND, City, London

☆ NFL Week 4 preview: 5 things to watch out for as teams look to kick-start their offense
▼ + stars: | 2024-09-26 | by ( Andy Scholes | Ben Morse | ) edition.cnn.com time to read: +17 min

John Amis/AP Minnesota Vikings running back Aaron Jones lands in the end zone for a touchdown in Minneapolis on September 22. Brad Penner/USA Today Sports/Reuters Atlanta Falcons wide receiver Darnell Mooney scores a touchdown during the team's 22-21 win over the Philadelphia Eagles in Philadelphia on Monday, September 16. Ken Blaze/USA Today Sports/Reuters Washington Commanders running back Brian Robinson Jr. breaks a tackle from Tampa Bay Buccaneers linebacker K.J. David Banks/USA Today Sports/Reuters Rhamondre Stevenson of the New England Patriots runs the ball against Cincinnati Bengals defenders in Cincinnati on September 8. Vincent Carchietta/USA Today Sports/Reuters Miami Dolphins and Jacksonville Jaguars players pray together at the end of the game in Miami Gardens, Florida, on September 8.

Persons: It’s, Damar Hamlin, Bryan M, Bennett, Sam Darnold, Johnny Mundt, Stephen Maturen, Calvin Austin III, Brandon Sloter, John Amis, Aaron Jones, Stacy Bengs, Dak Prescotts, Cooper Neill, Allen Lazard, Alex Austin, Brad Penner, Darnell Mooney, Matt Slocum, Patrick Mahomes, Dax Hill, Jay Biggerstaff, Deebo Samuel Sr, Camryn Bynum, Ivan Pace Jr, Abbie Parr, Alvin Kamara, Kamara, Tim Heitman, Tua Tagovailoa, Tagovailoa, Jasen, Aaron Rodgers, Rodgers, Caroline Brehman, Shutterstock, Dak Prescott, Prescott, Ken Blaze, Brian Robinson Jr, K.J, Britt, Nathan Ray Seebeck, Jaylen Waddle, Hill, Stephanie V, Daniels, Al Diaz, Justin Fields, Danny Karnik, Okonkwo, Tyrique Stevenson, David Banks, Reuters Rhamondre Stevenson, Jason Mowry, Andrew Van Ginkel, Vincent Carchietta, Rebecca Blackwell, Khalil Shakir, Justin Jones, Jordan Love, Brooke Sutton, São Paulo, South America Kirby Lee, Taylor Swift, Travis Kelce, Reed Hoffmann, Isaiah, Ed Zurga, Patrick Mahomes scrambles, Charlie Riedel, he’s, Darnold, ” Darnold, Brian Flores, Kevin O’Connell, Joe Burrow, Burrow, Andy Dalton, Dalton, Denny Medley, Reuters Burrow, “, haven’t, Josh Allen, He’s, Allen, Lamar Jackson’s, Derrick Henry –, Jackson, skillset Jackson, ” Allen, …, “ He’s, ”, Jayden Daniels, Katie Stratman, Reuters “, ” Daniels, “ I’m, Mike Macdonald, Tua, Skylar Thompson, Tim Boyle, Tyler Huntley Organizations: CNN, NFL, Saints, Philadelphia Eagles, New England Patriots, Houston Texans, Cleveland Browns, Chicago Bears, Tampa Bay Buccaneers, Las Vegas Raiders, Miami Dolphins, Dallas Cowboys, Buffalo Bills, Jacksonville Jaguars, Getty Images Minnesota Vikings, Vikings, Getty Images Pittsburgh Steelers, Steelers, Los Angeles Chargers, Green Bay Packers, Packers, Tennessee Titans, AP Minnesota Vikings, AP Dallas Cowboys, Baltimore Ravens, New York Jets, The Jets, USA, Sports, Reuters Atlanta Falcons, AP Kansas City Chiefs, Cincinnati Bengals, Chiefs, Super Bowl, Reuters San Francisco 49ers, Minnesota Vikings, AP New Orleans Saints, Reuters Miami Dolphins, Reuters New York Jets, San Francisco 49ers, AP Los Angeles Chargers, Shutterstock Dallas Cowboys, Cowboys, Reuters Washington, Buccaneers, Dade Police, Miami Herald, Tribune, Service, Atlanta Falcons, Falcons, AP Tennessee Titans, Titans, Bears, Reuters, Patriots, Bengals, New York Giants, AP Buffalo Bills, Arizona Cardinals, Bills, São Paulo, The Eagles, Getty, Neo, Kansas City Chiefs, AP Baltimore Ravens, Arrowhead, 49ers, Texans, Cincinnati, Carolina, Browns, Ravens, Buffalo, Sunday, Monday’s, Cardinals, Detroit Lions, Disney, Lions, Seattle Seahawks, Seahawks, Seattle, Dolphins, Jaguars, New Orleans Saints, Carolina Panthers, Los Angeles Rams, Pittsburgh Steelers, Indianapolis Colts, Denver Broncos, Washington Locations: Orchard Park , New York, Minneapolis, Pittsburgh, Nashville, Arlington , Texas, East Rutherford , New Jersey, Philadelphia, Kansas City , Missouri, Miami Gardens , Florida, Santa Clara , California, Inglewood , California, Cleveland, Tampa , Florida, Miami, Atlanta, Chicago, Cincinnati, São, South America, Minnesota, Carolina, San Francisco, Charlotte, Baltimore, Washington, Arizona, Detroit

☆ Gold lingers near record highs, Powell's speech eyed for rate cues
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Bullion has risen nearly 29% so far in 2024 and hit record highs several times this year, largely fueled by monetary policy easing by major global banks and geopolitical concerns. Last Wednesday, the Fed delivered a 50-basis-point rate cut, with traders seeing a 62% chance of an additional half-percentage-point reduction in November, according to the CME FedWatch Tool. Additionally, U.S. jobless claims data on Thursday and the core personal consumption expenditure index — the Fed's preferred inflation — on Friday, will be eyed for further rate cues.

Persons: Tim Waterer, Bullion, Jerome Powell, John Williams, Michael Barr, Nicholas Frappell Organizations: U.S ., KCM, Fed, New York Fed, ABC Refinery Locations: .

☆ It could soon get a lot harder for Russia to deal in Chinese yuan
▼ + stars: | 2024-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A key US license allowing Russian yuan transactions is set to expire mid-October. That could make Chinese banks more hesitant to deal in Russia, worsening Moscow's yuan shortage. AdvertisementIt may about to be way harder for Russia to get its hands on Chinese yuan. Dollar and euro trading on the Moscow Exchange have already been shut down with the latest round of Western sanctions. Chinese banks have also held up billions of dollars worth of yuan payments intended for Russia, Reuters reported last month, which has also contributed to the yuan shortage.

Persons: — Organizations: Reuters, Service, US Treasury, Moscow Exchange, National Clearing Center, Treasury, Bank of Locations: Russia, Moscow, Bank of Russia

☆ Zelensky to make urgent in-person plea to Biden and Harris as Ukraine braces for possibility of a Trump presidency
▼ + stars: | 2024-09-26 | by ( Kevin Liptak | Mj Lee | ) edition.cnn.com time to read: +8 min

CNN —Ukrainian President Volodymyr Zelensky’s visit to the White House on Thursday could be his final chance to convince a receptive American president of his country’s war aims. Even if Biden decides to allow the long-range fires, it’s unclear whether the change in policy would be announced publicly. The ongoing war between Ukraine and Russia is no exception, they say, insisting that Ukraine would continue to have the US’s unwavering support against Russian aggression under a Harris presidency. “Five days before Russia attacked Ukraine, I met with President Zelensky to warn him about Russia’s plan to invade. There is quiet recognition even inside the Biden administration that any reassurances Zelensky may receive from Biden and Harris this week on the US’s commitment to supporting Ukraine could all be for naught under a different American president.

Persons: Volodymyr Zelensky’s, ”, Joe Biden, Kamala Harris, Harris, Donald Trump, Biden, he’s, Trump, —, they’re, ” Trump, it’s, Zelensky, won’t, Mike Johnson, Jake Sullivan, it’s Putin, Harris Zelensky’s, JD Vance “, ” Zelensky, “ Organizations: CNN, White, Thursday’s, US, United Nations General Assembly, Republican Congressional, Capitol, Republican, MSNBC, Biden, Munich Security Conference, Democratic, Convention, NATO, Yorker Locations: Ukraine, Russian, Mint Hill, North Carolina, Washington, Russia, Italy

☆ 6 things you should never do to your nails after a manicure, according to nail artists
▼ + stars: | 2024-09-26 | by ( Gia Yetikyel | ) www.businessinsider.com time to read: +1 min

Business Insider spoke to three nail artists about things to avoid after getting a manicure. If your nail extensions start to lift, seek out a nail professional ASAP. Go to newsletter preferences Thanks for signing up! Business Insider asked three nail artists about things people shouldn't do after getting a manicure if they want to make the polish last and protect their nail health. This story is available exclusively to Business Insider subscribers.

Persons: mani, — Organizations: Service, Business

☆ These real estate stocks top Bank of America’s buy list
▼ + stars: | 2024-09-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Investors looking to get in on the recent rise in real estate stocks should focus on quality, according to Bank of America. The real estate sector of the S & P 500 has been moving higher over the past month or so and is now up 10% year to date, after being in the red earlier this year. Real estate investment trusts are also an income play, often paying out attractive dividends. .SPLRCR YTD mountain S & P 500 Real Estate Sector The Federal Reserve started its rate-cutting cycle last week, slashing the federal funds rate by 50 basis points. Health-care real estate is a play on the aging of America , which will see more people seeking medical services and senior housing, Hall said.

Persons: Jill Carey Hall, REITs, Hall, Jeffrey Spector, Welltower, Spector Organizations: Bank of America, Real, Federal Reserve, Communities, American, Federal Realty Investment Trust Locations: America, U.S

☆ It's refinancing time: Americans are already capitalizing on lower rates
▼ + stars: | 2024-09-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Mortgage Bankers Association's refinancing index jumped 20.3% last week to its highest in two years. That comes as the 30-year fixed mortgage rate dipped 2 basis points to 6.13% last week. Mortgage rates have fallen recently amid Federal Reserve easing and expectations for further rate cuts. Go to newsletter preferences Thanks for signing up! The surge in refinancing activity comes as mortgage rates fall as the market prices in expected easing from the Federal Reserve.

Persons: — Organizations: Mortgage, Reserve, Service, Fed, Federal Reserve, Business

☆ Newsmax and Smartmatic settle 2020 election defamation case on eve of trial
▼ + stars: | 2024-09-26 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

The pro-Trump cable outlet Newsmax and voting technology company Smartmatic settled a major 2020 election defamation lawsuit Thursday in a last-minute agreement to avoid a high-stakes trial. But in the run-up to the trial, Smartmatic’s hand weakened significantly, further raising the possibility of a settlement. Smartmatic has claimed that the lies promoted by Newsmax, Fox News, and other Trump allies destroyed its reputation and cost the company billions of dollars. However, as the Newsmax trial approached, Smartmatic’s lawyers reduced the company’s damages claim to approximately $370 million, according to statements in court. It often makes sense to settle rather than pay the expenses of a trial and possible appeals.”The settlement is the latest in a string of 2020 election defamation cases to reach an out-of-court agreement before trial.

Persons: Smartmatic, Newsmax, Erik Connolly, ” Connolly, “ Smartmatic, Donald Trump, ” Howard Cooper, Trump, Eric Davis, ”, Eric Robinson Organizations: Trump, Smartmatic, Newsmax, Fox News, University of South, Dominion, Systems, News, Fox Corporation, Fox Locations: Wilmington , Delaware, . Delaware, ”, University of South Carolina

☆ Trump hawks $100,000 watches as he leverages his candidacy for profit
▼ + stars: | 2024-09-26 | by ( Steve Contorno | Alejandra Jaramillo | ) edition.cnn.com time to read: +2 min

The GOP nominee announced his latest branded merchandise, Trump Watches, on social media Thursday – 40 days before the election and on a day when he did not appear on the campaign trail. A disclaimer on the website discloses that neither Trump nor his company designed, manufactured, distributed or sold the watches. Rather, a company named “TheBestWatchesOnEarth LLC” licensed the Trump name to sell the line of wrist watches. This week, he also launched “Trump Coins” – a 1oz .999% silver medallion with the former president’s face on one side and his signature on the White House on the back. Like the watches, the Trump Coins are the result of another licensing deal.

Persons: Donald Trump, hawking, ” Trump, Trump, Donald Trump Jr, “, Kamala Harris, Steve Witkoff Organizations: CNN, GOP, Trump, Truth, “ Trump, White, Trump Coins, Mar

☆ Nvidia's days of absolute dominance in AI could be numbered because of this key performance benchmark
▼ + stars: | 2024-09-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Liang told Business Insider he expects 90% of AI computing workloads will be in inference in the not-too-distant future. AdvertisementThat's why several startups are charging aggressively into the inference market — emphasizing where they might outperform the goliath in the space. Speed is an important factor when multiple AI models talk to each other and waiting for an answer can dampen the magic of generative AI. The number of tokens per second that can be consumed (when a prompt goes in) and generated (when a response comes out) is a common metric for AI computing speed. AdvertisementCerebras's AI chip is roughly size of a dinner plate.

Persons: —, Rodrigo Liang, Colleen Kress, workloads, Liang, Andrew Feldman, Bernstein, Colette Kress, Kress, Nvidia's, SambaNova, Anthropic's Claude, Nvidia isn't, Jensen, Dylan Patel, Patel Organizations: Service, Business, SambaNova Systems, Nvidia, ARM, AMD, o1, BI Locations: Artificialanalysis.ai, TCO

☆ Why Micron is the latest AI darling — for today at least
▼ + stars: | 2024-09-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Micron has seized the limelight in the AI space after its latest earnings report. AdvertisementMicron is stealing the show in the AI space — at least for now — as investors bask in its latest earnings results. Though its year-to-date gains have badly lagged other AI behemoths like Nvidia, Micron shares rose as much as 20%. Trading volume jumped to 42.5 million mid-day Thursday, outpacing interest in other firms in the AI space, like Intel, Tesla, and Palantir. Bank of America raised its price target for Micron to $125 a share, implying over 30% upside.

Persons: —, Rosenblatt, William Kerwin, David Morrison Organizations: Micron, Wall Street, Service, Nvidia, Intel, Micro Computer, Tesla, Bank of America, MU, Morningstar, Bloomberg, Nasdaq, Micron Technology, Trade Nation Locations: New York

Donald Trump narrowly captured each on his way to collapsing the Democrats’ vaunted “blue wall” in 2016. Wages going up. Wages going up. I talk to my friends, ‘Your wages going up?’ No. The pandemic-era stimulus checks, which Trump made a point of putting his name on, also come up regularly.

Persons: Hurley Coleman III, ’ ”, Phil Kerner’s, us, ” Kerner, ”, Barack Obama, Donald Trump, Joe Biden, ” Coleman, Kamala Harris, Hurley Coleman, Coleman, “, ” Hurley Coleman Jr, –, Phil Kerner, hasn’t, Edward, he’s, Kerner, George W, Bush, Guy, “ I’m, CNN –, CNN ‘, Trump ’ Kerner, I’m, “ It’s, Hurley Coleman Jr, Harris, HJ, He’s, Trump, Biden, that’s Organizations: CNN, Trump, General Motors, GM, of God, atrophied, Phil Kerner CNN, Republican, Democratic National Convention Locations: Saginaw , Michigan, Pennsylvania, Erie, Central Michigan, Erie , Pennsylvania, Saginaw

☆ Israel's air war may put Hezbollah in a bind over its most threatening missiles
▼ + stars: | 2024-09-26 | by ( Paul Iddon | ) www.businessinsider.com time to read: +8 min

Read previewThe Israeli Air Force is pounding the enormous missile arsenal Hezbollah built up over the past 18 years since its last full-fledged war with Israel. The air war is attempting to destroy Hezbollah's long-range missile arsenal, their most threatening weapons for Israelis which Iran provided as a last-resort threat to safeguard its nuclear program. That is one reason it proved reluctant to risk an all-out war between Hezbollah and Israel. Still, it's possible that the destruction of its Hezbollah missile deterrent will convince Iranian officials to build nuclear weapons faster as the ultimate deterrent. Advertisement"Many in Iran and the Iranian establishment now believe that Iran has no choice but to pursue nuclear weapons," Azizi said.

Persons: —, Freddy Khoueiry, RANE, Khoueiry, Israel, Kyle Orton, Hassan Nasrallah, MAHMOUD ZAYYAT, Orton, Arash Azizi, Ismail Haniyeh, Azizi Organizations: Service, Israeli Air Force, Business, Operation Northern Arrows, Hezbollah, Islamic Revolutionary Guard Corps, Israel, Getty, Fajr, Clemson University, Iran's, United Nations Locations: Israel, Iran, Lebanon, East, North Africa, South Lebanon, Lebanese, Beirut, Tel Aviv, Israel's, South, AFP, Syria, Tehran

☆ Trump’s promises would spike inflation and wipe out jobs, study finds
▼ + stars: | 2024-09-26 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

The paper represents the most comprehensive analysis to date on the combined impact of Trump’s trade, immigration and Fed proposals. In that scenario, employment would be 9% lower than baseline by 2028 and inflation would surge to 9.3% by 2026. “So-called economists and experts doubted President Trump’s economic plans in his first term. That means the same factory workers Trump says he is trying to help would be hurt the most. Fed Chair Jerome Powell, who was nominated by Trump in 2017, cautioned against any effort to interfere with Fed independence.

Persons: Donald Trump, Trump, “, Warwick McKibbin, Megan Hogan, Marcus Noland, they’ll, ” Karoline Leavitt, Trump’s, Kamala Harris, Harris, ” Trump, McKibbin, Mark Zandi, ”, Jerome Powell, ” Powell, We’re Organizations: CNN, Republican, Federal Reserve, Peterson Institute for International Economics, Peterson Institute, Trump, Security, ”, Peterson, Moody’s, Bloomberg Locations: United States, China, America, Georgia, Michigan, outflows

☆ Elon Musk talks a lot about free speech. But account suspensions on X have skyrocketed.
▼ + stars: | 2024-09-26 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Elon Musk purchased Twitter with a pledge to make it a bastion for free speech. AdvertisementA new "transparency report" from X might surprise anyone who has heard its owner, Elon Musk, talk about the importance of free speech. Three years after Musk took control of the company and rebranded it X, it has finally released a new transparency report. According to its transparency reports at the time, Twitter suspended almost 873,000 accounts in the last half of 2019. That number grew to about 1.3 million account suspensions in the latter half of 2021.

Persons: Elon Musk, Musk, Alex Jones, Donald Trump, —, X, Donald Trump's, Infowars, Ken Klippenstein's, JD Vance, Trump's, Trump Organizations: Elon, Service, Twitter, CNN, Social, Trump, takedowns Locations: Brazil, Turkey, India

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