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☆ It will be a while before OpenAI turns a profit. In the meantime, Microsoft gets a cut of revenue.
▼ + stars: | 2024-10-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

OpenAI is projected to turn a profit in 2029, a new report from The Information says. Microsoft also appears to be on track to get a 20% cut of OpenAI's revenue, per the report. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The report said the company doesn't expect to become profitable until 2029 when revenue is projected to hit $100 billion. According to The Information, OpenAI is currently projecting that its compute costs for model training could hit as high as $9.5 billion a year in 2026.

Persons: —, OpenAI, it's, Kate Leaman, Leaman Organizations: Microsoft, Service, Business Locations: Silicon Valley

☆ OpenAI is accusing Elon Musk of harassing the startup. It's the latest escalation in a long-running feud.
▼ + stars: | 2024-10-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

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

☆ Google DeepMind CEO wins joint Nobel Prize in chemistry for work on AlphaFold
▼ + stars: | 2024-10-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

DeepMind researchers Demis Hassabis and John Jumper have won a share of the Nobel Prize in chemistry. AdvertisementDemis Hassabis, the cofounder and CEO of DeepMind, is one of three researchers to be awarded the Nobel Prize in chemistry. The pair were recognized for their use of AI to predict protein structures with the DeepMind tool AlphaFold. The other is about fulfilling a 50-year-old dream: predicting protein structures from their amino acid sequences. AdvertisementDeepMind has also released the AlphaFold Protein Structure Database, which includes free-to-access models of microscopic protein structures.

Persons: Demis Hassabis, John Jumper, DeepMind, —, Demis, David Baker, Hassabis, Heiner Linke, Shane Legg, Mustafa Suleyman Organizations: Service, Business, Chemistry, Google Locations: AlphaFold, London

☆ Google ordered to open up app store in Epic Games antitrust ruling
▼ + stars: | 2024-10-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

A judge has ordered Google to open up Android to rival third-party app stores. The ruling is part of Epic Games' blockbuster antitrust case against Google. AdvertisementThe judge also ruled that Google must allow competition app stores to access Google Play apps and that it cannot require app makers to use Google Play Billing. Related storiesThe remedies follow a jury's finding last year that Google had violated antitrust policies in its Play Store for Android systems. AdvertisementAnother antitrust blow for GoogleThe Epic Games ruling is Google's latest setback as it faces other antitrust cases affecting different parts of its sprawling business.

Persons: — Organizations: Google, Epic Games, Service, Business, Department of Justice

☆ I'm a computer science professor at UC Berkeley. Tech jobs are drying up and graduates are no longer guaranteed a role.
▼ + stars: | 2024-10-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

James O'Brien is a UC Berkeley professor who says tech graduates struggle to secure top jobs. O'Brien says we need to embrace universal basic income as AI shrinks the job market. AdvertisementThis as-told-to essay is based on a transcribed conversation with James O'Brien, a professor at the University of California, Berkeley. There's still demand for people, and some people are getting jobs, but not across the entire industry. AdvertisementThere are also people coming from other schools that don't have quite the strong reputation that Berkeley does, and they're not getting job offers at all.

Persons: James O'Brien, O'Brien, —, I've, It's, it's, they're, that's Organizations: UC Berkeley, Service, University of California Locations: Berkeley

☆ Amazon's RTO push is an outlier — the tech world remains all-in on hybrid work
▼ + stars: | 2024-10-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

Despite return-to-office mandates at Amazon and Dell, the tech world still appears to favor hybrid work. Experts say hybrid work boosts recruitment and retention and could be crucial amid tech talent wars. But while it may seem like workers are losing the battle for remote work, research suggests that hybrid work is still the norm in the tech industry. While some large companies, such as Nvidia, have remained holdouts, most Big Tech companies have had hybrid policies of various degrees. So as long as productivity stays up, I think hybrid work is here to stay in the tech world."

Persons: —, Peter Cappelli, Nicholas Bloom, Bloom, Noam Shazeer, Cevat Aksoy, Aksoy, John Rossman, — it's Organizations: Amazon, Dell, Flex, Service, Wharton Business School, Big Tech, Stanford, Google, King's College London, Nvidia, Microsoft Locations: mull

☆ Amazon's RTO mandate is a 'backdoor layoff' strategy, future of work expert says
▼ + stars: | 2024-10-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Amazon's return-to-office mandate is a move to cut head count, says Stanford economist Nicholas Bloom. AdvertisementAmazon's strict return-to-office push is an attempt to reduce head count, according to Stanford economist Nicholas Bloom. Amazon's strict stance on full-time office work is still somewhat of an anomaly within the tech industry. Cost-cutting moveIn the memo announcing the RTO policy, Amazon CEO Andy Jassy hinted at plans to reduce managers. "They clearly thought about this long and hard and presumably calculated it was more cost-effective to run a head count reduction via an RTO than active layoffs.

Persons: Amazon's, Nicholas Bloom, Bloom, —, Fortune, OpenAI, Andy Jassy, Jassy Organizations: Stanford, Google, Microsoft, Service, Amazon, Flex, Meta, Business Locations: Germany

☆ An author is facing backlash for using AI to write 120 books. He says he's misunderstood.
▼ + stars: | 2024-09-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Tim Boucher has written over 120 books using AI-generated text and images. "My books allow AI models to speak for themselves, almost like the idea of an unreliable narrator in literature," he told Business Insider. AdvertisementCreative differencesTensions between AI companies and the creative industries have been bubbling since the release of AI image generators such as Midjounrey and the rise of AI-powered chatbots such as ChatGPT. AI companies, including OpenAI, are facing several similar lawsuits from groups of authors and artists. He said he thought the lawsuits would put a lot of pressure on how AI companies use licensed data, which he described as a "good thing."

Persons: Tim Boucher, —, he's, chatbots, Claude, ChatGPT, Boucher, Michael Chabon, Elon Musk's, Chabon Organizations: Service, Meta, Wild West

Read previewThe new AI iPhone is officially available in Apple stores, hitting shelves in almost 60 countries around the world on Friday. The iPhone 16 is the first phone to launch in Apple's new era of artificial intelligence. Although the iPhone 16 won't come straight out of the box with Apple Intelligence, it's one of only two iPhone generations that's compatible with the software. They had pre-ordered the iPhone 16 for themselves and their friends. AdvertisementQueues outside Apple store in Singapore 1 hour into store opening.

Persons: —, there's, Shubhangi Goel, Apple Organizations: Service, Apple, Apple Intelligence, Business, Control, BI, Orchard, Samsung, Huawei, Apple Watch, Lines, Regent, Apple's Regent Locations: Orchard, Singapore, Vietnam, Sri Lanka, India, London, Apple's, Covent Garden, Covent, Europe, Mumbai, Hangzhou, China

☆ California Gov. Newsom says he's worried about 'chilling effect' of AI bill
▼ + stars: | 2024-09-18 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Gavin Newsom is concerned about the state's controversial AI bill. The governor told a conference he's concerned about a potential "chilling effect" on AI development. Go to newsletter preferences Thanks for signing up! Gavin Newsom is concerned about the state's controversial AI bill. During an appearance at Salesforce's Dreamforce event in San Francisco on Tuesday, the governor said he was concerned about a potential "chilling effect" on AI development the bill could cause.

Persons: Gavin Newsom, Newsom, —, didn't Organizations: Service, Bloomberg, Business Locations: California, San Francisco

☆ It's a tough time to be a manager in tech
▼ + stars: | 2024-09-18 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

It's not easy being a manager in the tech industry right now. Meta, Shopify, and other tech firms have also reduced management roles in a bid to boost efficiency. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! AdvertisementManagers may just have the toughest job in tech right now.

Persons: —, Andy Jassy Organizations: Meta, Service, Amazon, Business

☆ Meta is banning Russian outlets including RT just weeks ahead of the US election
▼ + stars: | 2024-09-17 | by ( Beatrice Nolan | Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewMeta is banning RT, Rossiya Segodnya, and other Russian state media networks from its platforms, claiming the outlets had used deceptive tactics to carry out interference activity. AdvertisementMeta's decision comes as Russian media faces increased scrutiny from the Biden administration. On Friday, the Biden administration hit Russian state media outlets with new sanctions, accusing RT of acting as an arm of Moscow's spy agencies by engaging in covert information warfare operations around the world. Representatives for RT and Rossiya Segodnya did not immediately respond to a request for comment from BI, sent outside normal working hours. AdvertisementMeta, along with YouTube and TikTok, has already banned some Russian state media, including RT, in the EU, following requests from national governments after Russia's full-scale invasion of Ukraine in February 2022.

Persons: —, Segodnya, Biden, James Rubin, Merrick Garland, Donald Trump, Meta Organizations: Service, Business, Meta, RT, State, Global, NBC, Department of Justice, Reuters, YouTube Locations: Ukraine, Tennessee, Russia, Russian

☆ Elon Musk says he's learned a lesson
▼ + stars: | 2024-09-16 | by ( Kwan Wei Kevin Tan | Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Donald Trump survived what appears to be a second assassination attempt on Sunday. Elon Musk then posted on X, asking why there have been no assassination attempts on Biden or Harris. Go to newsletter preferences Thanks for signing up! In a now-deleted post, Musk questioned why there have been no assassination attempts on President Joe Biden or Vice President Kamala Harris. The FBI is now probing what it says appears to be a second attempted assassination of Trump.

Persons: Donald Trump, Elon Musk, Harris, Musk, —, Elon, Joe Biden, Kamala Harris, Trump Organizations: Biden, Service, FBI Locations: Trump's, West Palm Beach , Florida

☆ Marc Benioff says AI and humans are now indistinguishable in customer service
▼ + stars: | 2024-09-16 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Salesforce CEO Marc Benioff says AI and human customer service agents are indistinguishable. Benioff said AI agents had reached "another level of capability." Customer service is seen as one of the sectors where AI could have the biggest impact. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMarc Benioff thinks AI has progressed to a point where humans and AI customer service agents are now indistinguishable.

Persons: Marc Benioff, Benioff, —, David Sacks Organizations: Service, Business

☆ Amazon drivers are poised to get a 7% pay rise after they started to think about unionizing
▼ + stars: | 2024-09-13 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Read previewAmazon is spending $2.1 billion on its delivery service network — including pay increases — following renewed unionization efforts among delivery workers. Out of the $2.1 billion investment, Amazon said it will allocate $660 million toward "rate card increases and bonuses." Related storiesAmazon's delivery drivers are hired by third-party courier companies known as Delivery Service Partners, or DSPs. Amazon has said it doesn't dictate pay and can only decide what the minimum pay for drivers is. Drivers had been in disagreement with the company over whether Amazon bears any legal responsibility to its delivery drivers.

Persons: — Organizations: Service, Business, Amazon, Partners, National Labor Relations, NLRB, Drivers, International Brotherhood of Teamsters

☆ Adam Neumann's climate startup is quietly refunding investors after failing to launch a crypto token, report says
▼ + stars: | 2024-09-12 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Adam Neumann's climate tech startup is quietly refunding investors, Forbes reported. Flowcarbon has reportedly been refunding its Goddess Nature Token after failing to launch it. Flowcarbon, which aimed to enable companies to purchase carbon credits with cryptocurrency, has reportedly been issuing refunds for its Goddess Nature Token after failing to launch for years. Founded in 2021, Flowcarbon claimed that tokenizing carbon credits would make them easier to trade and help projects access funding more easily. The company said its Goddess Nature Token would shed light on the "opaque and fractured market infrastructure" for carbon credits — but the tokens have yet to emerge.

Persons: Adam, Forbes, Flowcarbon, cryptocurrency Organizations: Service, Business

☆ Saudi Arabia is throwing money at Neom, pushing the value of its Vision 2030 over $1 trillion
▼ + stars: | 2024-09-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Saudi Arabia is still spending big on Neom, its megacity in the desert. The country's Vision 2030 projects have now reached $1.3 trillion in value, per Bloomberg. The cost of the project has reportedly been a cause for concern within the Saudi government. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The heavy investment has pushed the value of the kingdom's wider Vision 2030 project past the $1 trillion mark, Bloomberg reported.

Persons: —, Knight Frank Organizations: Bloomberg, Service, Saudi, Business Locations: Saudi Arabia, Saudi

☆ Taylor Swift addresses a fake image of her shared by Trump: 'It really conjured up my fears around AI'
▼ + stars: | 2024-09-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. "It really conjured up my fears around AI, and the dangers of spreading misinformation. AdvertisementThe images also included an Uncle Sam-inspired depiction of Swift with the words, "Taylor wants you to vote for Donald Trump." However, two of the images Trump shared appeared to be real, showing actual Trump supporter Jenna Piwowarczyk . Representatives for Trump did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Taylor Swift, Kamala Harris, Donald Trump, Harris, Swift, Donald Trump's, Trump, Sam, Taylor, Jenna Piwowarczyk, Kamala, Walz Organizations: Service, Business, Trump, Fox Business, Swift, Biden, Democratic

☆ Google must pay €2.4 billion antitrust fine, says Europe's top court
▼ + stars: | 2024-09-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Europe's top court has upheld a €2.4 billion antitrust fine against Google. The 2017 decision found Google used its search-engine dominance to favor its own services. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEurope's top court has upheld a €2.4 billion ($2.67 billion) antitrust fine against Google. The commission said Google had presented search results from its own shopping services in boxes with attractive images and text information.

Persons: — Organizations: Google, Service, Justice, European Union, Business

☆ Musk could be the world's first trillionaire in 3 years — if Tesla's fluctuating stock plays ball
▼ + stars: | 2024-09-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Elon Musk is projected to become a trillionaire by 2027, per Informa Connect Academy. The report's predictions are based on an individual's annual wealth growth rate. AdvertisementElon Musk is on track to become the world's first trillionaire, according to a new report from Informa Connect Academy. According to Bloomberg's Billionaires Index, the Tesla CEO is currently the world's richest person, with a net worth of $237 billion. The report's predictions are based on an individual's average annual wealth growth rate.

Persons: Elon, Tesla, — Organizations: Informa Connect Academy, Service, Informa Connect, Business

☆ Elon Musk is helping fuel the flames of far-right rioting on X. An expert says his own platform is radicalizing him.
▼ + stars: | 2024-08-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

"A lot of these individuals had been deplatformed, so they wouldn't have had an opportunity to amplify," Van der Linden said. Musk has also claimed that the UK police's response "does seem onesided" — a viewpoint commonly promoted by far-right activists. Van der Linden said Musk might be being radicalized by his own platform. Musk's echo chamber on X is increasingly conspiratorial, Van der Linden added. Representatives for X did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Axel Muganwa Rudakubana, Elon Musk's, Ali Al, Shakati —, Taylor Swift, Andrew Tate, Sander van der, Tommy Robinson, Stephen Yaxley, Lennon, Tate, Musk, Van der Linden, Downing, Kier Starmer, he's, he's radicalizing Organizations: Service, Business, Facebook, The, University of Cambridge, Twitter, Prime Locations: Britain, South Yorkshire, Cardiff , Wales, Southport, Liverpool, London, Sander van der Linden, Soviet Union

☆ Elon Musk's Neuralink implanted another brain chip. Here's how it works.
▼ + stars: | 2024-08-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Read previewElon Musk says Neuralink has successfully implanted another brain chip in a human patient. Its first patient, Noland Arbaugh, received the brain chip in January. AdvertisementMusk's brain chip company has lofty goals — here's how the chips work. For example, Musk said on the podcast that someone with a Neuralink chip could beat a professional gamer in a few years. AdvertisementRepresentatives for Neuralink did not immediately respond to a request for comment from Business Insider.

Persons: —, Elon Musk, Neuralink, Lex Fridman, Musk, Noland Arbaugh Organizations: Service, Business

☆ JD Vance holds Silicon Valley fundraiser as tech leaders rally around Kamala Harris
▼ + stars: | 2024-08-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Ohio Sen. JD Vance held a fundraising event in Palo Alto hosted by BitGo CEO Mike Belshe. Vance, a former VC, has the backing of influential tech execs, including Elon Musk. But many Silicon Valley figures are throwing their support behind Kamala Harris. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOhio Sen. JD Vance has been fundraising in Silicon Valley.

Persons: Ohio Sen, JD Vance, Mike Belshe, Vance, Elon Musk, Kamala Harris, —, Donald Trump's, Mike Belshe's Palo, Couples Organizations: Service, Ohio Locations: Ohio, Palo Alto, Silicon Valley, Vance

☆ Saudi says The Line will be the world's first 'eco-city.' Construction and design specialists aren't so sure.
▼ + stars: | 2024-08-02 | by ( Beatrice Nolan | Polly Thompson | ) www.businessinsider.com time to read: +7 min

Neom's flagship city, known as The Line, has grand plans to be a futuristic "eco-city." Experts told BI that these plans offered exciting solutions for issues like urban sprawl, excessive carbon emissions, and inefficient energy use. AdvertisementLovgreen pointed to issues "such as disrupting natural habitats, carbon emissions from building materials, and the transferring of these materials to areas remote from where they are produced." "Transportation accounts for less than a quarter of global carbon emissions, while the construction and operation of buildings represent nearly 40% of emissions," Baum said. She added that it can be particularly difficult to maintain sustainable construction in hot and dry regions of the world.

Persons: Mohammed bin Salman's, Giles Pendleton, Neom, Andreas Krieg, Philip Oldfield, Mona Lovgreen, Mara Baum, Baum, Krieg, Ben Bauer Organizations: Service, Saudi, Business, Wall Street Journal, The Journal, Lawrence Technological University, Institute of Middle Eastern, King's College London, UNSW Built Environment, Dialog Locations: Neom's, Saudi, Gulf, Sydney

☆ Meta scraps celebrity AI chatbots after less than a year, despite reportedly paying top creators as much as $5 million
▼ + stars: | 2024-08-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

Meta has scrapped its celebrity AI assistants after less than a year. The company is shifting focus to its new AI Studio, which lets users create their own AI bots. AdvertisementMeta has scrapped its celebrity AI assistants after less than a year. The company is pivoting to focus on its new AI Studio, in a move first reported by The Information. This story is available exclusively to Business Insider subscribers.

Persons: Meta, —, Mark Zuckerberg Organizations: Tech, Service, Meta, The, AIs, Business

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