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A separate robotics startup, Starship Technologies, filed a US trademark application for "Robovan" in 2017. On its website, WeRide said it had received "over 10,000 indication orders from a leading express delivery company" for the car. AdvertisementIn July 2017, a company called Starship Technologies filed a trademark for "Robovan," per the United States Patent and Trademark Office. Starship, which specializes in autonomous delivery robots, was founded by Skype cofounders Ahti Heinla and Janus Friis. Unlike Tesla and WeRide, Starship Technologies' offering isn't a self-driving vehicle.
Persons: WeRide, , Elon Musk's, Tony Han, Han, Janus Friis, Musk, Tesla's, 4DDqJtGATU — Elon, Tesla Organizations: Starship Technologies, Service, CNBC, JMC, Ford Motors, Jiangling Motors Corp, Ford, United States Patent, Office, Skype, Mercedes, Benz, Tesla, Technologies, YouTube, Business Insider Locations: Guangzhou, China
The PIF became the first sovereign wealth fund to issue a green bond back in October 2022. The mammoth sovereign wealth fund, which oversees $925 billion in assets, has a capital expenditure requirement of $19.4 billion for what it deems "eligible green projects," according to the PIF's annual report. Saudi Arabia has a stated goal of reaching net-zero greenhouse gas emissions by 2060 and has poured billions of dollars into what it says are sustainable development projects. It describes a water sustainability project planned for Neom that will develop "a fully-circular system to achieve water positivity" enabling "100% wastewater recapture and energy-neutral recycling." Neom Green Hydrogen — a joint venture between Neom and Saudi firms ACWA Power, Air Products — will be the world's largest green hydrogen plant and will operate "entirely on renewable energy," according to the report.
Persons: Prince Mohammed bin Salman's, Philip Oldfield Organizations: Saudi, Public Investment Fund, Renewable Energy, Green, Sustainable Water Management, United Nations Sustainable, University of New, ACWA Power, Air Products Locations: Saudi Arabia, Saudi, University of New South Wales, Neom
Is it OK for an AI company to exclude the cost of training its AI models when it reports earnings? Related storiesFor an AI company like OpenAI, training models will be an ongoing process. The world is constantly evolving, and new data is being generated, which will have to be incorporated into AI models' understanding. Let's call it "AI adjusted earnings" for an AI company. They are a private company," McKenna said.
Persons: we've, Francine McKenna, McKenna, OpenAI, It's, Groupon, WeWork Organizations: Google, Facebook, MarketWatch, Revenue, Big Tech, KPMG Consulting, SAP, Oracle, Securities, Exchange Commission, SEC Locations: It's
Microsoft's CEO likes to schedule daily calls with CEOs to expand his network, The Information reported. Satya Nadella's networking reportedly includes leaders from AI but also non-tech industries. AdvertisementSatya Nadella's daily routine consists of waking up at 7 a.m., practicing mindfulness exercises, and, in a new twist, apparently making multiple phone calls to different CEOs. The Microsoft CEO reportedly asks staff to set up two calls a day with other executives of various companies, according to a new report from The Information detailing Nadella's networking strategies. Nadella, who reportedly remained in close contact with Suleyman for several years, eventually hired him to head up Microsoft AI.
Persons: Satya Nadella's, , Satya, Aravind Srinivas, Pete Carroll, Sam Altman, Rebecca Arnold, Root, Arnold, Nadella, Mustafa Suleyman, Suleyman, There's Organizations: Service, Microsoft, Seattle Seahawks, Consulting, UAE Locations: Nadella
Davis Jones looks out the door of the hotel where he is riding out Hurricane Milton, in Tampa, Florida on October 9, 2024. Julio Cortez/APThough authorities and meteorologists had feared Tampa would bear the heaviest brunt of Hurricane Milton, it appears the city has avoided the kind of devastating 15-foot storm surge that had been forecast, said CNN Correspondent Brian Todd. “I’ve never really seen sheets and walls of water coming down from a hurricane,” he said, speaking from Tampa. Now, several hours after Milton first made landfall, the eye of the storm has moved east through central Florida. Earlier in the night, the storm pushed the water out of Tampa Bay, leaving it looking almost like “a dry riverbed,” he added.
Persons: Davis Jones, Hurricane Milton, Julio Cortez, Brian Todd, “ I’ve, , Milton, Todd Organizations: Hurricane, CNN Locations: Tampa , Florida, Tampa, Hurricane Milton, Florida, Tampa Bay
Stellantis is struggling. Here's why
  + stars: | 2024-10-10 | by ( Robert Ferris | In | ) www.cnbc.com   time to read: +3 min
American car brands Jeep, Ram, Dodge and Chrysler are struggling under their new owner. The European-American giant Stellantis is the world's fifth-largest automaker by volume, according to S&P Global Mobility. But Stellantis did better than that. 2023 was a banner year: record sales, record profits, record free cash flow. Out of all brands in the U.S., Stellantis vehicles have some of the highest inventories of vehicles on dealer lots, according to Cox Automotive.
Persons: Daniel Roeska, Bernstein, Stellantis, Stephanie Brinley, Carlos Taveres, Roeska Organizations: Dodge, Chrysler, P Global Mobility, Groupe PSA, Italian Fiat Chrysler, Products, Jeep, RBC Capital, Cox Automotive, United Auto Workers Locations: Italian, North America, U.S, America, China
Suki just raised $70 million in Series D funding led by Hedosophia for its medical AI assistant. It's competing with hot startups like Abridge as VCs scramble to place their bets in healthcare AI. The startup just landed a $70 million Series D round led by Hedosophia, a secretive UK-based VC firm led by Ian Osborne. Suki's biggest competitor is healthcare AI startup Abridge, which raised a $150 million Series C at a $850 million valuation in February and is backed by big names like Lightspeed Venture Partners and CVS Health Ventures. Here's the pitch deck Suki used to raise $70 million from Hedosophia.
Persons: Suki, Hedosophia, , Punit Singh Soni, It's, Ian Osborne, transcribes, Kleiner Perkins, Abridge, Soni, EHR, he's Organizations: Service, Flare, Breyer Capital, InHealth Ventures, Fund, Suki's, Lightspeed Venture Partners, CVS Health Ventures, Veterans Health Administration Locations: Abridge, Hedosophia
My homeowner nightmare
  + stars: | 2024-10-10 | by ( Vishal Persaud | ) www.businessinsider.com   time to read: +11 min
The moment I saw I had an email from my solar company, I knew my nightmare was about to take another unsettling turn. But he didn't know any more than I did about how much longer my solar panels would remain useless. Meanwhile, my solar panels have been sitting on my roof for four months, entirely unused, taunting me from above. AdvertisementI also reached out to California's Contractors State License Board, which regulates solar companies, asking what recourse SunPower's customers had. But it seems ludicrous to buy a solar system that I had no intention of buying in the first place.
Persons: I'd, SunPower, it's, , Severin Borenstein, Ernst & Young, Gordon Johnson, Johnson, Forbes, David F, Larcker, Brian Tayan, Pavel Molchanov, Raymond James, There's, haven't, I'm, Vishal Persaud Organizations: Pacific Gas and, Berkeley's Haas School of Business, Nasdaq, GLJ Research, Stock, Industry, Sun Solar, California's Contractors, Board, Business Locations: Fresno , California, New York City, California, America, Fresno,
Neal Mintz beat over 500 applicants to get his dream job at Wischoff Ventures. AdvertisementThis as-told-to essay is based on a conversation with Neal Mintz, 26, a senior associate at Wischoff Ventures. It was difficult to break into venture capital straight out of college. That's how I ended up at my current job at Wischoff Ventures, a firm started by a woman whose work I admired — Nichole Wischoff. People think I'm a try-hard, but that's just what it takesSome people have criticized my approach to securing the job at Wischoff Ventures.
Persons: Neal Mintz, Mintz, , Ernst & Young, EY, — Nichole, Neal, Nichole Wischoff's, Nichole, I'd, I'm, you'll Organizations: Wischoff Ventures, Service, Washington University's Olin Business School, Ernst, Fortune, Up Ventures Locations: Tel Aviv
Furthermore, it's the only credit card that allows me to gift airport lounge access to four people for free by adding them as authorized users on my credit card. I Earn 2% Back on Therapy with my Capital One Venture X Rewards Credit CardI primarily use my Capital One Venture X Rewards Credit Card on transactions that don't earn bonus points on another card. Capital One Venture X Annual Fee and Other CostsThe Capital One Venture X Rewards Credit Card charges a $395 annual fee (rates and fees). Capital One Venture X Frequently Asked QuestionsIs the Capital One Venture X worth it? Yes, it's possible to get approved for the Capital One Venture X Rewards Credit Card if you already have the Capital One Venture Rewards Credit Card open.
Persons: I've, cardholder, Miles, Chase, LifeMiles, Smiles, Red, Wyndham, cardholders, Cardholders, I'm, You've, Jasmin Baron, Read, Angela Fung Organizations: Business, Venture, Capital, One, Chase, Five, U.S, American, American Express, Chase Sapphire Reserve, Aeromexico Club, Air Canada, Air France, KLM, Blue, British Airways Executive Club, Cathay, Emirates, Etihad, Qantas Frequent, TAP Air Portugal Miles, Turkish Airlines Miles, Wyndham Rewards, Collection Hotels, Premier, Resorts, Chase Travel, Marriott, TSA, Hertz, Cell, Travel Insurance, One Venture, Mastercard, Chevron, Finance Locations: Taiwan, Cathay Pacific Asia, Singapore, Canada
With less than four weeks until Election Day, Trump is scheduled to hold rallies in staunchly Democratic states he has virtually no chance of winning. President Joe Biden won those states by an average of 20 points in 2020, with his 13-point Colorado win the closest margin. “Choosing high-impact settings makes it so the media can’t look away and refuse to cover the issues and the solutions President Trump is offering,” said a senior Trump campaign adviser of the strategy behind late-election cycle events in Democratic states. He called Trump the “most unorthodox candidate in modern history,” which means the off-script strategy could have some value. “Aurora, Colorado has become a 'war zone' due to the influx of violent Venezuelan prison gang members,” Trump’s campaign said in a statement announcing the event.
Persons: Donald Trump’s, Trump, It’s, Joe Biden, George W, Bush, , Harris, Biden’s, Kamala Harris, Matthew Bartlett, ” Bartlett, Republican Young Kim, Republican Ken Calvert, Mike D’Esposito, Trump’s, Ed McMullen, Bartlett, Steven Hernandez, , ” Hernandez, Sen, Bernie Sanders, Mike Coffman, Ohio Sen, JD Vance, it’s, Tricia McLaughlin, Vivek Ramaswamy's Organizations: Democratic, Republican, Trump, House, Los, Nassau County’s, Coachella, Bloomberg, Economic, of Chicago, Madison, GOP, New Locations: Colorado , California , Illinois, New York, Colorado, Madison Square, Georgia, Pennsylvania, Nevada , North Carolina , Wisconsin, Michigan, California, Los Angeles, Coachella, Switzerland, Aurora, “ Aurora , Colorado, Chicago, Democratic, Manhattan, Yorker, New Jersey
Aside from EVs, GM touted its lowering capital costs and the company’s flexibility to produce both traditional vehicles with internal combustion engines and EVs. Shares of GM were roughly level aside from a roughly 3% increase during the beginning of the event. The change to Ultium comes after GM spent billions of dollars to develop in-house “Ultium” batteries and technologies that the automaker previously touted as “revolutionary” and the ultimate technologies to be able to build a profitable EV business. The company said the batteries and the technologies will remain, but the name “Ultium” will not, other than production operations such as its “Ultium Cells” joint venture plants with LG Energy Solution. GM has been rethinking its EV battery strategy amid changing market conditions and an influx of new, outside executives, including Tesla veterans JP Clausen, who now leads GM manufacturing, and Kurt Kelty, GM’s vice president of battery.
Persons: GM, EVs, Ultium, , JP Clausen, Kurt Kelty, Mary Barra, ” Kelty, Rory Harvey, , Orion Organizations: DETROIT, Detroit automaker, GM, LG Energy, Tesla, LG, South Korea’s Samsung SDI, CNBC, Orion Locations: North America, Orion Township , Michigan, U.S, Detroit
OpenAI has fired back at Elon Musk's latest lawsuit. Musk's lawyers have argued that OpenAI executives "deceived" him into cofounding the company. AdvertisementIn response to Musk's lawsuit, OpenAI called it the latest move in Musk's "increasingly blusterous campaign to harass OpenAI for his own competitive advantage." "OpenAI is dedicated to the safe and beneficial development of artificial general intelligence ("AGI")," OpenAI's lawyers said in a court filing on Tuesday. A long-running feudIn March, Musk first sued OpenAI on similar grounds but later dropped the suit in June.
Persons: OpenAI, , Musk, Tesla, Sam Altman, He's, xAI, Ilya Sutskever's, Mira Muta, Ilya Sutskever Organizations: Elon, Service, Musk, Business, Microsoft Locations: Musk's
Insider is putting together a list of the best up-and-coming venture capitalists of 2024. Go to newsletter preferences Thanks for signing up! AdvertisementWe are seeking nominations for Insider's yearly list of rising stars of venture capital, and we want to hear from you. We're looking for US-based venture capitalists who are working hard to find and fund the next big startups. In the past, we've had people with various roles and experiences from VC funds like Founders Fund, Greylock Partners, Lightspeed Venture Partners, Tiger Global, and Spark Capital.
Persons: , we've Organizations: Service, Founders, Greylock Partners, Lightspeed Venture Partners, Tiger Global, Spark
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVanEck announces venture fund targeting crypto and AI startups: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Wyatt Lonergan of VanEck Ventures explains why a new fund is targeting early-stage crypto and AI startups.
Persons: explainers, Wyatt Lonergan Organizations: VanEck, CNBC Crypto, CNBC, VanEck Ventures
Grabango, a venture-backed startup that was vying to take on Amazon in cashierless checkout technology, is shutting down after it was unable to raise enough money to stay afloat. Based in Berkeley, California, Grabango was seen as one of the primary rivals to Amazon's cashierless checkout offering, called Just Walk Out. Amazon in April pulled its cashierless checkout technology from its U.S. Fresh stores and Whole Foods supermarkets. Glaser said Grabango eschewed shelf sensors in favor of computer vision which put it on a path for "widespread adoption." WATCH: Amazon is making a big bet on selling its cashierless tech to outsiders
Persons: Grabango, Will Glaser, Grabango's, Peter Thiel's, Glaser, Axios, CNBC's Ari Levy Organizations: CNBC, longtime, LinkedIn, Commerce Ventures, Fund, Unilever, Honeywell, Aldi, Amazon, Foods Locations: U.S, Berkeley , California
Jaap Arriens | NurPhoto via Getty ImagesLONDON — Increasingly many financial services firms are touting the benefits of artificial intelligence when it comes to boosting productivity and overall operational efficiency. Despite bold statements, a lot of companies are failing to produce tangible results, according to Edward J Achtner, the head of generative AI for U.K. banking giant HSBC . One example he gave was a partnership that HSBC has in place with internet search titan Google on the use of AI technology anti-money laundering and fraud mitigation. Boteju stressed that Lloyds is "proceeding with caution" when it comes to exposing the bank's customers to generative AI tools. Generative AI, on the other hand, is a more nascent technology, according to the Lloyds exec.
Persons: Jaap Arriens, Edward J Achtner, Achtner, Ranil Boteju —, Nathalie Oestmann, ChatGPT, Klarna, headcount, Sebastian Siemiatkowski, Siemiatkowski, Oestmann, Boteju, Banks, we've, Bahadir Yilmaz, Yilmaz, It's, Johan Tjarnberg Organizations: NurPhoto, Getty, HSBC, Leadership, Lloyds Banking Group, NV Ltd, Royal Albert Hall, Microsoft, Google, BBC, NV, CNBC, Lloyds, ING Locations: London
Where are Gen Z's tech founders?
  + stars: | 2024-10-09 | by ( Amanda Hoover | ) www.businessinsider.com   time to read: +10 min
So where are Gen Z's tech founders? Gen Z founders and would-be founders are stepping into a vastly different tech world from that of their predecessors — a world where launching a unicorn is far more difficult, and publicly scrutinized, than it was for the garage-band generation of Jobs and Gates. Gen Z is coming of age in an era when the same Big Tech companies are diffuse and dominant. In other words, millennial founders ran so that Gen Z founders could walk. Perhaps we won't see Gen Z founders standing before a crowd and unveiling their latest shiny products anytime soon.
Persons: Bill Gates, Steve Jobs, Jeff Bezos, Gen X, Sergey Brin, Elon Musk, Travis Kalanick, Peter Thiel, Millennials, I'm, Zuckerberg, Whitney Wolfe Herd, Brian Chesky, Elizabeth Holmes, Sam Bankman, Gen, aren't, Zers, Jerry Neumann, millennials, Uber, Z, There's, Neumann, Kimberly Eddleston, they've, Adam Neumann, Holmes, Alexandra Debow, that's, Alexandr Wang, Wang, They've, Ibrahim Rashid, Rashid didn't, COVID, Rashid, Martin Shkreli, Forbes, Alexis Barreyat, Barreyat, Julian Kage, Kage, they'd, Debow, It's, Eddleston, Emma Chamberlain's Organizations: Boomers, Columbia University, Big Tech, Northeastern University, Facebook, New York University, MIT, Wired, Forbes, University of Chicago, Deloitte, Harvard, Harvard Business Locations: swaggering, Silicon Valley
AOC tweeted in response to Mark Cuban saying Harris shouldn't keep Khan on as chair of the FTC. AdvertisementRep. Alexandria Ocasio-Cortez made it clear that when it comes to economic regulation, Vice President Kamala Harris can't please everyone. AOC took to X, formerly known as Twitter, to respond to comments from billionaire and Harris surrogate Mark Cuban. AdvertisementThroughout the election, Harris has leaned on her California roots to woo business and tech leaders, including Cuban, Reid Hoffman, and Laurene Powell Jobs. Should Harris win the election in less than a month, it remains unclear how she'll handle the looming Khan question.
Persons: Mark Cuban, Harris shouldn't, Harris, hasn't, , Alexandria Ocasio, Cortez, Kamala Harris, Lina Khan, wouldn't, Semafor, Harris hasn't, Khan —, Gary Gensler, Reid Hoffman, Laurene Powell Jobs Organizations: Service, Federal Trade Commission, Securities and Exchange Commission, Cuban, Wall Locations: Alexandria, California
GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.
Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China
Dave Clark, Amazon 's former CEO of global consumer, who briefly helmed logistics company Flexport, is returning to the startup world. Prior to Flexport, Clark developed a storied reputation during his 23 years at Amazon as the architect of its mammoth logistics network. In 2020, Amazon tapped Clark to head its core retail business after longtime executive Jeff Wilke left the company. Clark joined Flexport to bring what he had built at Amazon to "small businesses and other businesses around the world." He left the startup feeling there was still a gap in the market for supply chain tools, and began to develop the idea behind Auger.
Persons: Dave Clark, Clark, Franken, Ryan Petersen, Petersen, Clark overspent, Flexport, Jeff Wilke, Auger Organizations: Excel, CNBC, Amazon, Amazon's, Flexport
TensorWave has raised $43 million for its AI cloud service platform. BI got an exclusive look at the 9-slide pitch deck used to secure the funding. AdvertisementTensorWave, a startup providing a cloud platform for AI applications that runs on chips designed by an Nvidia rival, has raised $43 million in funding. AdvertisementThe startup's pitch deck, shared exclusively with BI, states that "buyers desperately need an alternative for AI compute infrastructure." Check out the 9-slide pitch deck TensorWave used to secure the fresh funding.
Persons: TensorWave, , Darrick Horton, Piotr Tomasik, Tomasik Organizations: AMD, BI, Service, Nvidia, Maverick Capital, Translink Capital, Venture Partners, AMD Ventures Locations: Vegas
Ballroom dancing has given her a social life and improved her physical and mental health. AdvertisementThis as-told-to essay is based on a conversation with Charlotte Page, a 24-year-old venture capitalist based primarily in Florida. It seemed really fun and a great way to develop a friend group, so I decided to try ballroom dancing. Ballroom dancing has made such a difference in my life and helped me find friends outside work. Being able to move after a long day of sitting at work and really let loose is just so nice.
Persons: Charlotte, , Charlotte Page, who's, We've, Starpoint, It's Organizations: Charlotte Page, Service, Harvard Locations: Florida, New York City, New York
Khosla Ventures was the first investor in OpenAI when it switched to a "capped-profit" model in 2018. When OpenAI switched from a non-profit to a "capped-profit" company in 2018, he put his money where his mouth was when Khosla Ventures stepped forward with the first check. While some notable earlier investors sat out this round, such as Sequoia Capital, sat out this round, Khosla Ventures doubled down. "There's plenty of companies in the public markets that have higher revenue multiples with much lower growth than OpenAI," Khosla said during an interview this week. Advertisement"I think a number of people who left recently really want to start something of their own, but the organization is also being rationalized for agility and speed," Khosla said.
Persons: Khosla, , Vinod Khosla, OpenAI, Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Sam, Altman, Sutskever, X, 4chan Khosla, Donald Trump, Elon Musk, Musk Organizations: Khosla Ventures, Service, Sequoia Capital, 4chan, 4Chan Locations: OpenAI, Silicon Valley, It's
Two former executives of Humane, the embattled AI hardware startup, are reemerging with a new artificial intelligence software venture that has raised $4 million at a $25 million valuation. He and Hartley Moy are marketing the startup toward enterprise customers in industries like finance, insurance, SaaS, healthcare services and media. "It really came down to the opportunity that we saw in the enterprise side of the house," Hartley Moy, Infactory's CEO, told CNBC. But the two's departure had to do with the business opportunities they saw when working at Humane, Hartley Moy said. WATCH: Former Apple designers launch $700 Humane AI Pin as smartphone replacement
Persons: Brooke Hartley Moy, Ken Kocienda, Kocienda, Hartley Moy, Sam Altman, Marc Benioff, Slack, Andreessen Horowitz, Infactory, Ohtani Organizations: Humane, CNBC, HP, Microsoft, Tiger Global, Google, Apple, Bee Partners, SPV Locations: Salesforce
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