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Amazon on Friday announced it would invest an additional $4 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI research executives. Anthropic is the company behind Claude — one of the chatbots that, like OpenAI’s ChatGPT and Google’s Gemini, has exploded in popularity. In March, Amazon’s $2.75 billion investment in Anthropic was the company’s largest outside investment in its three-decade history. The companies announced an initial $1.25 billion investment in September 2023. In September, Anthropic rolled out Claude Enterprise, its biggest new product since its chatbot’s debut, designed for businesses looking to integrate Anthropic’s AI.
Persons: Claude chatbot, Claude —, Claude, It’s, Anthropic, Jared Kaplan, Kaplan, Claude Enterprise Organizations: Microsoft, Meta, AWS, Amazon’s, CNBC, Google Locations: Anthropic, Amazon, San Francisco
The deal includes an agreement for Anthropic to use Amazon's AI chips more. The goal of all this money is mainly to get Amazon's AI chips to be used more often to train and run large language models. It's also going to help Amazon design future Trainium chips and contribute to building out an Amazon AI model development platform called AWS Neuron. The Information reported recently that Anthropic prefers to use Nvidia GPUs, rather than Amazon AI chips. In May, Bernstein analyst Stacy Rasgon told Business Insider he wasn't aware of any companies using Amazon chips at scale.
Persons: Anthropic, It's, Dario Amodei, we've, Andy Jassy, Bernstein, Stacy Rasgon, Jassy, Amodei Organizations: Amazon, Nvidia, Business, Google, Locations: Anthropic, San Francisco
Amazon on Friday announced it would invest an additional $4 billion in Anthropic, the artificial intelligence startup founded by ex-OpenAI research executives. Anthropic is the company behind Claude — one of the chatbots that, like OpenAI's ChatGPT and Google's Gemini, has exploded in popularity. In March, Amazon's $2.75 billion investment in Anthropic was the company's largest outside investment in its three-decade history. The companies announced an initial $1.25 billion investment in September 2023. In September, Anthropic rolled out Claude Enterprise, its biggest new product since its chatbot's debut, designed for businesses looking to integrate Anthropic's AI.
Persons: Claude chatbot, Claude —, Claude, It's, Anthropic, Jared Kaplan, Kaplan, Claude Enterprise Organizations: Microsoft, Meta, AWS, Amazon's, CNBC, Google Locations: Anthropic, Amazon, San Francisco
While Anthropic and OpenAI continue to raise significant sums, some smaller companies have essentially been folded into Google and Microsoft. U.S. regulators are also scrutinizing the multibillion-dollar investments that Microsoft, Amazon and Google are putting into A.I. But the deals are seen as allowing the big companies to form deep ties with their smaller rivals while avoiding most government scrutiny. Like OpenAI, Anthropic is a developer of so-called generative A.I., the technology capable of learning from vast amounts of data to create humanlike text and images. Anthropic has tried to position itself as one of the more responsible actors in the field of A.I.
Persons: OpenAI, Anthropic’s Claude, Anthropic Organizations: Google, Microsoft, The New York Times, The Times Locations: U.S
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The market is also taking its cue from Club name Nvidia , but not in the way you would think. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, We'll, Kent Walker, Walker, we've, Justice Department —, Baird, haven't, Amit Mehta, Mehta, Jim Cramer's, Jim Organizations: CNBC, ., Nvidia, Google, Department of Justice, DOJ, Bloomberg, Justice Department, ISI, Ross Stores, Intuit, Jim Cramer's Charitable Locations: Eaton, Dover
The sharp move higher puts the cloud-based data stock on pace for its best day ever. SNOW YTD mountain Snowflake stock headed for its best day ever on Thursday. Goldman analyst Kash Rangan reiterated a buy rating on Snowflake following its third-quarter results, and maintained his price target of $220 per share. JPMorgan, others bullish too JPMorgan Chase analyst Mark Murphy maintained an overweight rating on Snowflake stock, but increased his price target to $185 per share. The analyst reiterated his neutral rating on Snowflake stock but increased his price target to $185 per share from $160, equating to more than 43% upside moving forward.
Persons: Sridhar Ramaswamy, Goldman, Kash Rangan, Rangan, Mark Murphy, Murphy, Brad Sills, he's, Sills, Wells Fargo's Michael Turrin, Turrin Organizations: JPMorgan, Bank of America Locations: Snowflake
AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. Related Video How Elon Musk makes and spends his billionsThe chart below helps put that meteoric rise into perspective. How does that $50 billion valuation compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook.
Persons: OpenAI, Elon Musk, Organizations: Elon, SpaceX Locations: xAI
AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion, 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. So how does that $50 billion compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook. Musk said the process took 122 days — and the startup plans to double the amount of AI chips inside it in the coming months.
Persons: OpenAI, Elon Musk, , It's, Grok, Musk Organizations: Elon, Perplexity, SpaceX, Twitter, Nvidia
Business spending on generative AI surged 500% this year, from $2.3 billion in 2023 to $13.8 billion, according to data released by Menlo Ventures on Wednesday. The report also found that OpenAI ceded market share in enterprise AI, declining from 50% to 34%. Anthropic doubled its market share from 12% to 24%. Although OpenAI and Anthropic dominated companies' AI model use, he said, people are "juggling models" and that habit is "not a well-understood piece of data." Meta 's market share stayed at 16% and Cohere's share remained at 3%.
Persons: Anthropic, OpenAI, Tim Tully, Claude, Tully, that's, Mistral's, Google's, Anthropic's Claude, , chatbots Organizations: Menlo Ventures, Menlo, CNBC, Google, Microsoft Locations: Anthropic
The New York Stock Exchange welcomes Snowflake to usher in the first day of winter on Dec. 21, 2021. Snowflake shares on Wednesday spiked 19% in extended trading after the data analytics software maker reported fiscal third-quarter earnings that beat estimates. Product revenue, at $900.3 million, represented around 96% of total revenue. Snowflake called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. Snowflake had 10,618 customers at the end of October, having added 369 in the fiscal third quarter.
Persons: Snowflake, StreetAccount, Snowflake's, we've, Jefferies Brent Thill Organizations: New York Stock Exchange, Anthropic
AdvertisementIn an email to subscribers, Ark Invest highlighted its exposure to Elon Musk's private companies. Its venture fund includes stakes in SpaceX, X, and xAI, totaling nearly 15% of net assets. Ark Invest hyped Musk's influence with Donald Trump, saying his companies could also benefit. SpaceX was Ark Venture Fund's largest holding, with about 13% of assets, worth an estimated $8.7 million. In a recent interview, Winton illuminated the factors that drove Ark's investments in Musk's companies.
Persons: Elon, Donald Trump, Elon Musk, Brett Winton, Elon Musk's, Ark, xAI, Trump, Musk, He's, Winton Organizations: Ark Invest, SpaceX, Ark, Elon, Invest, ARK Venture Fund, Ark Venture, Trump megadonor, Trump's, Winton Locations: Elon, United States
AdvertisementCustomer-friction concerns, partnership hiccups, compatibility questions, latency problems, and accuracy issues have snarled progress, according to internal Amazon documents and multiple people involved in the project. AdvertisementA product of this scale is "unprecedented, and takes time," an Amazon spokesperson told Business Insider. Related storiesFor example, without more clearly defined responsibilities with third-party partners, Amazon expected further delays in the launch. AdvertisementLatency has been a particularly tough problem for the AI Alexa service. Related storiesNew risksIn late August, Amazon discovered several new risk factors for the AI Alexa service.
Persons: Alexa, that's, Amazon, Taylor Swift, they're, ChatGPT, Andy Jassy, Andy Jassy Mike Blake, Claude Haiku, Rohit Prasad, Claude, AGI NurPhoto, , Fortune, Amazon's Organizations: Uber, Ticketmaster, Alexa, Echo, Amazon, Business, Bloomberg, TV, Reuters, General Intelligence, AGI, Companies
The generative AI boom has inspired bold AGI predictions ranging from this happening in 2025, 2026, or maybe 2027. AdvertisementThat's the main reason for huge gains in recent years in the performance of AI models. AdvertisementHorowitz noted several factors that are holding back AI model improvements, including a lack of new high-quality human data and problems sourcing the extra energy needed to power AI data centers. AGI questionsIf the main tried-and-true method for improving AI models is no longer working, we are unlikely to get AGI anytime soon. Altman's bold AGI predictions may also be an effective rallying cry for hard-working OpenAI employees.
Persons: Sam Altman, there's, that's, Oren Etzioni, Etzioni, Ilya Sutskever, Noam Brown, Google hasn't, Marc, Ben, Marc Andreessen, Ben Horowitz, Andreessen, Horowitz, we're, OpenAI, Altman, we've, AGI, Elon Musk, It's Organizations: YouTube, Allen Institute, Tech, Reuters, Orion, Bloomberg, Google, AGI, Microsoft, Intel, Computer, Artificial Intelligence Locations: Seattle
Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, and Sam McCandlish, cofounders of AnthropicAnthropic's Dario Amodei, Jack Clark, and Daniela Amodei. Since then, the company has received billions in funding from both Google and Amazon in what some have termed an "AI arms race." CEO Dario Amodei, a former Google Brain researcher with a Ph.D. in computational neuroscience, has been writing about the cataclysmic potential of AI since 2016. Constitutional AI is partly the brainchild of two other OpenAI alums and Anthropic cofounders, Tom Brown and Jared Kaplan. Both Kaplan and Brown have worked on Anthropic's efforts to "red team" the company's flagship language model, Claude, probing for misuse possibilities.
Persons: Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, Anthropic Anthropic's Dario Amodei, Menlo Ventures Anthropic, Amodei's, Anthropic, , Anthropic cofounders, Brown, Kaplan, Johns Hopkins, Claude, AGI, I'm Organizations: Google, Menlo Ventures, Bloomberg, Johns, OpenAI Locations: OpenAI, GPT
Major tech companies have cracked down on fully remote work, including Amazon, Google, and Meta. Get into the office and soak up the knowledge within its walls, Google's former CEO says. Studies have also suggested that being fully remote decreases workers' productivity. Companies, including Amazon, JPMorgan, and Goldman Sachs, have ditched their remote work policies for full return-to-office mandates, with some even threatening to track performance or terminate those who don't comply. However, Google assured workers in October that it would not follow Amazon's expectations for staff to come into the office five days a week.
Persons: Eric Schmidt, Schmidt, , unravels ChatGPT, Goldman Sachs, Mark Zuckerberg, Sam Altman, Eric misspoke Organizations: Amazon, Google, Service, Technologies, Street, Stanford's Institute for Economic Policy Research, Companies, JPMorgan, Meta, Fortune, Stanford University
Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. Elon Musk's artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation, according to CNBC's David Faber. The money will be used to acquire 100,000 Nvidia chips, per sources familiar with the situation. Musk's AI startup, which he announced in July 2023, seeks to "understand the true nature of the universe," according to its website. Last November, X.AI released a chatbot called Grok, which the company said was modeled after "The Hitchhiker's Guide to the Galaxy."
Persons: Elon Musk, Donald Trump, CNBC's David Faber, Faber, Tesla, X.AI, OpenAI, Musk, Sam Altman, Google's Bard, Claude chatbot, Trump, Biden's Organizations: Republicans, Hyatt, Elon, Memphis, Google's Locations: Washington , DC
Ex-Google CEO Eric Schmidt says there's "no evidence" of an AI slowdown. AdvertisementEric Schmidt says there's "no evidence" artificial intelligence scaling laws are stopping as some in Silicon Valley worry about an AI slowdown. He said there will be "two or three more turns of the crank of these large models" over the next five years, referring to improvements in large language models. Related Video Why "deployment of AI is top of mind for everybody," according to IBM's Jonathan Adashek"There's no evidence that the scaling laws, as they're called, have begun to stop. AI scaling laws are the theoretical rules that broadly state models will continue to improve with more training data and greater computing power.
Persons: Eric Schmidt, Schmidt, LLMs, , IBM's Jonathan Adashek, we're, OpenAI's, OpenAI, Claude, Gary Marcus, Sam Altman, Anthropic Organizations: Google, Service, Bloomberg, New York University, OpenAI, Business Locations: Silicon
Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention. And in the VC world, it's really all about liquidity stupid," Edith Yeung, general partner at Race Capital, an early-stage VC firm based in Silicon Valley, said in a CNBC-moderated panel earlier this week. When a VC makes an equity investment and the value of their stake increases, it's only a gain on paper. Yeung said the lack of IPOs over the last couple of years had created a "really tough" environment for venture capital.
Persons: Edith Yeung, Larry Aschebrook, G, Portugal —, Groq —, Yeung, there's, Big Techs Organizations: Race Capital, CNBC, Summit, Microsoft Locations: Lisbon, Portugal, LISBON, U.S, Silicon Valley
Sovereign AI is "more driven by the industry naming it that, than it is from the policymakers' side," Gow said. On Wednesday, Denmark laid out a landmark white paper outlining how companies can use AI in compliance with the incoming EU AI Act — the world's first major AI law. How regulation fueled a mindset shiftThat's not to say regulations haven't proven an important factor in getting tech giants to think more about building localized AI infrastructure within Europe. The concept of AI sovereignty is also getting buy-in from local European tech firms. Orange hasn't yet selected a partner for these sovereign AI model ambitions.
Persons: Dado Ruvic, Chris Gow, Anthropic's Claude, Filippo Sanesi, Sanesi, hasn't, , Cisco's Gow, Rather, " Gow, Gow, It's, David Hogan, Hogan, OVHCloud's Sanesi, Qwant, Bruno Zerbib, Zerbib Organizations: Reuters, Portugal — Tech, CNBC, Data, of Justice, EU, General Data Protection, U.S, Sovereign, Nvidia, Orange Locations: Reuters LISBON, Portugal, Brussels, U.S, Europe, OVHCloud, Italy, Italia, Denmark, Berlin, Paris, French
Greg Brockman speaks onstage at "OpenAI Co-founder on ChatGPT, DALL·E, and the Impact of Generative AI" during 2023 SXSW Conference and Festivals at Austin Convention Center on March 10, 2023 in Austin, Texas. OpenAI co-founder Greg Brockman has returned to the company as president, three months after announcing he would take a sabbatical "through end of year." In late September, OpenAI Chief Technology Officer Mira Murati announced she would depart the company after six and a half years. The same day, research chief Bob McGrew and Barret Zoph, a research vice president, said they were leaving. OpenAI co-founder Ilya Sutskever and former safety leader Jan Leike announced their departures in May, with Leike joining rival Anthropic.
Persons: Greg Brockman, OpenAI, Mira Murati, Bob McGrew, Barret Zoph, Ilya Sutskever, Jan Leike, Anthropic ., John Schulman, Lilian Weng, Brockman, Sam Altman, Altman, Altman's Organizations: Austin Convention Center, OpenAI, Leike, Anthropic, Google Locations: Austin , Texas
It reignites a debate about the feasibility of developing increasingly advanced models and AI scaling laws — the theoretical rules about how the models improve. It remains to be seen how smart an AI model can get when it has that much capital thrown at it. There could also be strategies to make AI models smarter by enhancing the inference portion of development. The model OpenAI released in September — called OpenAI o1 — focused more on inference improvements. Still, it's clear that, like Altman, much of the industry remains firm in its conviction that scaling laws are the driver of AI performance.
Persons: OpenAI's, It's, , Sam Altman, Fabrice Beaulieu, Altman, OpenAI, Andrew Caballero, Reynolds, Ion Stoica, Gary Marcus, Anthropic, Marcus, Claude, Ilya Sutskever, Dario Amodei, Kevin Scott, we're, Scott, they've Organizations: Service, OpenAI's, Orion, Business, Getty, Companies, New York University, Reuters, Sequoia, o1 Locations: GPT, Silicon Valley, AFP
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 . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.
Persons: , Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London
Pompeii is limiting its daily visitor numbers
  + stars: | 2024-11-11 | by ( Jack Guy | ) edition.cnn.com   time to read: +2 min
CNN —Authorities at Pompeii in southern Italy are introducing a daily limit of 20,000 visitors as part of efforts to protect the ancient site. The measure, which will come into force from November 15, will see the introduction of personalized tickets bearing the name of each visitor, according to a statement from the Pompeii archaeological park published Friday. Pompeii has received an increasing number of visitors in recent years. The site has long been a popular tourist attraction, but the sheer weight of numbers has caused increasing problems at the site as visitor numbers rose from under 2.7 million in 2014 to more than 3.9 million by 2019. “Grande Pompei,” as the project is called, is a “parco diffuso” or scattered archaeological park, incorporating the archaeological area of Pompeii itself, as well as villas at nearby Boscoreale, Oplontis (in the modern town of Torre Annunziata) and Stabiae, at modern Castellammare di Stabia.
Persons: Andreas Solaro, , Gabriel Zuchtriegel, Torre Annunziata Organizations: CNN, Getty Locations: Italy, AFP, Naples, Boscoreale, Torre
Anthropic has been gaining on arch rival OpenAI in recent months, according to data from a popular developer tool offered by startup Vercel. In the week of August 18, the OpenAI code library was downloaded almost 229,000 times by developers. Data from Vercel's AI SDK toolkit VercelA top executive at Vercel attributed the recent adoption trends partly to a new AI model that Anthropic released in the summer. That's because many AI model providers have adopted OpenAI's API specification as a de facto standard. AdvertisementAn OpenAI spokesperson said usage of the startup's API has doubled since it released its GPT-4o mini AI model in July.
Persons: Anthropic, OpenAI, Sweta Patel, Claude, Jared Palmer, Sonnet, There's, Dianne Penn, Penn, DoorDash Organizations: Vercel
But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men. And recent data from the UK shows that only about 4% of AI startups in the country have women founders. Developing relationships with other women working in the AI space has become a vital lifeline, she said. There were plenty of women interested in building AI companies, she said. AdvertisementThis observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups.
Persons: Saumya Bhatnagar, Bhatnagar isn't, Fei Fei Li, Daniela Amodei, Mira Murati, it's, Bhatnagar, she's, I'm, Vivien Ho, Ho, they're, Forbes, Rejpal, Rajpal, Stephanie Guo, Guo Organizations: Deloitte, Bay Area, FFC, Pear, Zetta Venture Partners, Bloomberg Beta, GitHub, Sapphire Ventures Locations: Bay, San Francisco
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