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In a blog post titled "Elon Musk wanted an OpenAI for-profit," the startup alleged that in 2017, Musk "not only wanted, but actually created, a for-profit" to serve as the company's proposed new structure. "When he didn't get majority equity and full control, he walked away and told us we would fail," OpenAI wrote in the blog post. OpenAI's "structure doesn't seem optimal," Musk wrote in a November 2015 email to OpenAI CEO Sam Altman, according to screenshots shared in the blog post. "In particular, the YC stock along with a salary from the nonprofit muddies the alignment of incentives," Musk wrote, according to the screenshots. Musk wrote that China "will do whatever it takes to obtain what we develop.
Persons: Elon Musk, Sam Altman, OpenAI, didn't, xAI, Musk, Shivon Zilis, Greg Brockman, Brockman, Ilya Sutskever, Altman, Musk's, Tesla, Tesla Al Organizations: Elon, CNBC, YC, Intelligence Technologies, Inc, Google Locations: Ankara, Turkey, China, OpenAI
Palantir jumps 11% to a record after announcing move to Nasdaq
  + stars: | 2024-11-15 | by ( Ari Levy | ) www.cnbc.com   time to read: +3 min
Alex Karp, CEO of Palantir Technologies speaks during the Digital X event on September 07, 2021 in Cologne, Germany. Palantir shares continued their torrid run on Friday, soaring 11% to a record, after the developer of software for the military announced plans to transfer its listing to the Nasdaq from the New York Stock Exchange. The shares are now up more than 45% since Palantir's better-than-expected earnings report last week and have almost quadrupled in value this year. Palantir said late Thursday that it expects to begin trading on the Nasdaq on Nov. 26, under its existing ticker symbol "PLTR." Thiel's Palantir holdings have increased in value by about $3 billion since the earnings report and $2 billion since the election.
Persons: Alex Karp, Palantir, Alexander Moore, 8VC, " Moore, Moore, didn't, Maven, Trump, Peter Thiel, Donald Trump's, Thiel Organizations: Palantir Technologies, Nasdaq, New York Stock Exchange, Maven, ., Department of Defense, Trump, P Global, Argus Research Locations: Cologne, Germany
Palantir shares surge on rosy revenue outlook
  + stars: | 2024-11-04 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Palantir shares jumped 13% in extended trading on Monday after the data analytics software maker reported robust third-quarter results and revenue guidance. With respect to guidance, Palantir called for fourth-quarter revenue of $767 million to $771 million. It now sees $2.805 billion to $2.809 billion, compared with $2.742 billion to $2.750 billion in August. The company is targeting over $687 million in U.S. commercial revenue for the year, implying about 24% of the total. As of Monday's close, Palantir shares were up 141% in 2024, while the tech-heavy Nasdaq had gained 21%.
Persons: Alex Karp, Palantir, Karp, LSEG, StreetAccount, Joe Lonsdale Organizations: Palantir, Bloomberg, P Global, Nasdaq, Musk Locations: Palo Alto , California, U.S, United States, Europe
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft 's better-than-expected earnings report wasn't enough to prevent the stock's steepest selloff in two years, as investors instead focused on the company's forecast for the current period. Microsoft shares fell more than 5% on Thursday and headed for their worst day since Oct. 26, 2022, when they dropped 7.7%. Amazon , which leads the cloud infrastructure market, is scheduled to report results after the close on Thursday. Net income rose 11% to $24.67 billion from $22.29 billion in the year-ago quarter.
Persons: Satya Nadella, Amy Hood Organizations: Microsoft, Revenue, Google, BofA Global Research Locations: Jakarta, Indonesia
Announced in August , and reported this way for the first time this week, Microsoft decided to change which revenue streams fall under its three main reporting segments. In Microsoft's upcoming report, search and news advertising revenue will move from the More Personal Computing (PCP) segment into the Intelligent Cloud (IC) segment. Another change includes Microsoft removing revenue from Power Business Intelligence data analytics and the Enterprise Mobility and Security group of products from the IC segment. MSFT YTD mountain Microsoft (MSFT) year-to-date performance Some Wall Street analysts are upbeat on the new reporting structure. He also touted Microsoft's AI prospects ahead of quarterly earnings — citing the company's first-mover advantage in integrating AI.
Persons: Piper Sandler's Brent Bracelin, Bracelin, Morgan Stanley, there's, Jim Cramer, I'm, Jim, Amy Hood's, Jim Cramer's, Satya Nadella, Dimas Ardian Organizations: Microsoft, Web Services, Power Business Intelligence, Enterprise Mobility, Security, Piper, CNBC, BI, Guggenheim, Big Tech, Bloomberg, Getty Locations: OpenAI, Jakarta, Indonesia
Starting next month, they'll move into public preview, meaning more organizations can start building AI agents of their own. AI agents can act as virtual workers that can carry out a series of tasks without supervision. Microsoft demonstrated how its autonomous AI agents work. Competition is fierceMicrosoft is doubling down on AI agents at a time when competition is intensifying up in the red-hot artificial intelligence space. Microsoft 365 Copilot is a service offered by the tech giant that embeds generative AI into its suite of productivity apps.
Persons: Satya Nadella, Dimas Ardian, they'll, Jared Spataro, Salesforce, Zahra Bahrololoumi, , Bahrololoumi, I'm, Marc Benioff Organizations: Bloomberg, Getty, Microsoft, Copilot, Dynamics, McKinsey, CNBC, Crown Commercial Service Locations: Jakarta, Indonesia, Salesforce, London, U.S, San Francisco, Ireland, Copilot
Costfoto | Nurphoto | Getty ImagesNvidia , Google , Microsoft and dozens of other tech companies are descending on Las Vegas next week to showcase artificial intelligence tools they say will save doctors and nurses valuable time. Based on the speaking agenda and announcements leading up to the conference, AI tools to conquer administrative burdens will be the star of this year's show. Tech companies, eager to carve out a piece of a market that could top $6.8 trillion in spending by the decade's end, argue that their generative AI tools can help. Josh Edelson | AFP | Getty ImagesGoogle, for instance, said it's working to expand its health-care customer base by tackling administrative burden with AI. Vertex AI Search for Healthcare allows developers to build tools to help doctors quickly search for information across disparate medical records, Google said.
Persons: Alex Schiffhauer, Josh Edelson, Satya Nadella, Dimas Ardian, DAX Copilot, that's, Shiv Rao, Abridge Organizations: Nurphoto, Getty, Nvidia, Google, Microsoft, Las, CNBC, Mercer, Tech, AFP, Healthcare, Google's, Bloomberg Locations: Hangzhou, China, Las Vegas, Mountain View , California, Jakarta, Indonesia
EVgo — Shares soared 55% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. Hims & Her Health had previously developed compound versions of the drugs to take advantage of the shortage. Joby Aviation – Shares dropped more than 7%, paring back gains made in the previous session. Palantir recently announced that it's partnering with Edgescale AI to deliver Live Edge, a platform that will utilize artificial intelligence for manufacturing, utilities and other areas. Investors see both Vistra and Constellation as becoming key supporters of data center growth for developing tech companies' artificial intelligence technologies.
Persons: Bill Peterson, Eli Lilly, paring, Joby, Levi Strauss, Levi, Jensen Huang, CNBC's, Blackwell, Henning Cosman, Palantir, Sundar Pichai, Yun Li, Lisa Kailai Han, Hakyung Kim Organizations: Department of Energy, JPMorgan, U.S . Food, Drug Administration, Toyota, Dockers, Wolfspeed, Mizuho, Nvidia, Barclays, Constellation Energy, Nikkei, Investors Locations: U.S, China
As Microsoft investors get ready for quarterly earnings this month, there's one particular metric that's become increasingly important: finance leases. Overall, Microsoft made $19 billion in capital expenditures in the latest quarter. "It's an insane ramp," said Charles Fitzgerald, a former Microsoft manager who writes about capital expenditures on his blog Platformonomics. Investors will get further clarity on Microsoft's lease finances when the company reports fiscal first-quarter results in late October. Executives at Microsoft and other top tech companies have approved higher capital expenditures in the past two years, often to boost their performance in generative AI.
Persons: Satya Nadella, Charles Fitzgerald Organizations: Microsoft, Investors Locations: Jakarta, Indonesia, U.S, Pennsylvania
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: +1 min
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia's biggest economy to spur growth. Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. "We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City. Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said.
Persons: Satya Nadella, Marcelo Ebrard Organizations: Microsoft, Tech, Viasat Locations: Jakarta, Indonesia, Mexico, Mexico City
There are key stock market catalysts on the horizon before November. In a Monday note, Bank of America highlighted the most important days for the stock market between now and the November Presidential election. AdvertisementBank of AmericaNovember 6Technically the day after the election, the most important day for the stock market is November 6, when markets can react to the results. The stock market experienced a similar-sized move on the day after the prior Presidential election, with the S&P 500 jumping 2.2% on November 4, 2020. But now that the Fed has started its cutting cycle, we think labor market data (e.g.
Persons: Organizations: Service, Federal, Bank of America, Investors, Fed Locations: United States
London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn. Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers. Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition. Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet. Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.
Persons: , Margrethe Vestager, , ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t Organizations: London CNN, Russia, Getty, , International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA Locations: United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego
The US, UK, and Australia let AI detect and target enemies in a real-time simulated battle environment. The ground-breaking exercise is the first time AI was tested in this way, per the British military. The autonomous systems reduced the time it took to identify enemies. AdvertisementThe US and its allies employed artificial intelligence systems to target enemies in a real-time, simulated battle environment for the first time. The exercise marks a major moment in the AI race that's pushing the US, its allies, and adversaries to develop and deploy autonomous capabilities at a breakneck pace.
Persons: Organizations: British, Service, Artificial Intelligence, US Army, Business Locations: Australia
Wall Street is even more bullish on Apple after its second-quarter earnings beat analyst expectations. Analysts are focused on a rebound in Chinese iPhone sales and the new iPhone 16. Ives raised his Apple price target to $285 from $275, representing an upside of 30% from Thursday's close. Apple offered guidance for the third quarter, with revenue expected to jump 5% year over year, ahead of Wall Street expectations for revenue growth of 4.3%. Ng raised his Apple price target to $275 from $265, arguing that the iPhone maker was "on the cusp of a multi-year replacement cycle for iPhone."
Persons: Wedbush, , Dan Ives, Ives, Goldman Sachs, Michael Ng, Ng Organizations: Apple, Service, Cook, iPhone, Apple Intelligence, Products Locations: China, Thursday's, Cupertino
Taipei, Taiwan CNN —When Nvidia surpassed Apple this week to become America’s second most valuable company, its CEO Jensen Huang was being feted like a rockstar in his birthplace Taiwan. Taiwan media has dubbed the phenomenon “Jensanity.”He’s not the only celebrity CEO in town. The United States has imposed a number of restrictions on the export of AI chips to China. Late last year, Chinese tech giants like Tencent were rushing to stockpile AI chips before those curbs took hold. “Taiwan in particular is very important to the semiconductor ecosystem.”People attend Computex 2024 in Taipei, Taiwan, on June 4, 2024.
Persons: Jensen Huang, Huang, , gesturing, ” He’s, Lisa Su, Pat Gelsinger, Cristiano Amon, , isn’t, Hwa Cheng, OpenAI, ” Christopher Miller, China’s, , CNN Huang, Computex, Lai Ching, AMD’s Su, We’ve, Joe Biden Organizations: Taiwan CNN, Nvidia, Apple, AMD, Intel, Qualcomm, Getty, “ Tech, Technology, CNN, Media, Communist Party, United, , Chips Locations: Taipei, Taiwan, Computex, AFP, Beijing, United States, China, “ Taiwan, America, Asia
OpenAI said on Thursday that it had identified and disrupted five online campaigns that used its generative artificial intelligence technologies to deceptively manipulate public opinion around the world and influence geopolitics. The efforts were run by state actors and private companies in Russia, China, Iran and Israel, OpenAI said in a report about covert influence campaigns. The recent rise of generative A.I. Ben Nimmo, a principal investigator for OpenAI, said that after all the speculation on the use of generative A.I. in such campaigns, the company aimed to show the realities of how the technology was changing online deception.
Persons: OpenAI, Ben Nimmo Locations: Russia, China, Iran, Israel
In April, a New York start-up called Runway AI unveiled technology that let people generate videos, like a cow at a birthday party or a dog chatting on a smartphone, simply by typing a sentence into a box on a computer screen. The four-second videos were blurry, choppy, distorted and disturbing. But they were a clear sign that artificial intelligence technologies would generate increasingly convincing videos in the months and years to come. Just 10 months later, the San Francisco start-up OpenAI has unveiled a similar system that creates videos that look as if they were lifted from a Hollywood movie. A demonstration included short videos — created in minutes — of woolly mammoths trotting through a snowy meadow, a monster gazing at a melting candle and a Tokyo street scene seemingly shot by a camera swooping across the city.
Persons: OpenAI, Locations: New York, San Francisco, Tokyo
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But what could be new this time around is a solution to the problem, according to Grayscale CEO Michael Sonnenshein. It's yet another issue that could ultimately be solved by the blockchain, according to Sonnenshein. It only makes sense for the blockchain to be integrated in generative AI technologies going forward, according to Sonnenshein. That symbiotic relationship should ultimately benefit creators and open the door to transparent compensation, according to Sonnenshein.
Persons: , OpenAI, Michael Sonnenshein, Sonnenshein, Nicholas Carlson, it's, It's, Midjourney — Organizations: Service, Business, New York Times, OpenAI, Microsoft, Parliament's House, Lords Communications, Getty Locations: blockchain
The tool uses data on the climate, water and soil of a particular location to measure how viable the landscape will be for growing in the coming years. “The way we think about AI is it’s a time and effectiveness multiplier to the solutions for climate change,” Gupta told CNN. But for all of AI’s promise, the infrastructure that supports the technology — data centers filled with rows of powerful, energy-sucking computers — could itself be a strain on the environment. For now, the amount of energy used to power AI is relatively small compared to what’s consumed by transportation or buildings. Data center operators like Google are already thinking about how to reduce the resources needed to power the computing behind their AI models.
Persons: David Rind, ClimateAi, Himanshu Gupta, ” Gupta, , Fengqi, , Kara Lamb, Aditya, Dan Keeler, ” Keeler, Anna Liljedahl, ” Liljedahl, Keeler, Daniel Leal, ClimateAi’s Gupta, Anna Robertson, ” Robertson, Alex de Vries, Alex Kraus, Adam Selipsky, , Gupta Organizations: David Rind . New York CNN, Farmers, CNN, Cornell, Getty, Technology, Climate Research, Google, Bloomberg, Web Services, , “ Regulators, ” Tech Locations: David Rind . New York, India, Maharashtra, Columbia, American, Ireland, Oregon, United States
Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. "Sam and OpenAI were the catalyst that showed the world what AI tech is capable of," Jannsen said. Silicon Valley's high-profile startup CEO firings typically involve wrongdoing, rather than just philosophical differences about where the company is headed. "Sam Altman is a hero of mine," former Google CEO and investor Eric Schmidt said in an X post. — CNBC's Lora Kolodny contributed to this report WATCH: OpenAI says Sam Altman exiting as CEO because 'board no longer has confidence.'
Persons: Sam Altman, Carlos Barria, OpenAI, Steve Jobs, Altman, , Jobs, U.S . Altman, Mark Zuckerberg, Jeff Bezos, Elon Musk, Greg Brockman, Brockman, Ron Conway, Greg, Brian Chesky, Matt Schlicht, Schlicht, Sam, Ryan Jannsen, Jannsen, Patrick Moorhead, They're, Moorhead, Josh Wolfe, Wolfe, he'd, Eric Schmidt, Tom Williams, Airbnb's Chesky, what's, Chesky, Satya Nadella, Zachary Lipton, Carnegie Mellon's Lipton, Lipton, — CNBC's Lora Kolodny Organizations: Economic Cooperation, Reuters, ChatGPT, Apple, U.S ., Amazon, Tesla, Microsoft, Tiger, Sequoia Capital, CNBC, Google, Lux Capital, Cq, Inc, Getty, Carnegie Mellon University, Industry Locations: Asia, San Francisco , California, U.S, Silicon Valley, OpenAI, what's,
Nov 16 (Reuters) - The North American Electric Reliability Corp (NERC) said on Thursday it has concluded a two-day simulation with power sector entities to stress-test their emergency response and recovery plans for physical and cyber security attacks. We must continue to be vigilant," said NERC senior vice president Manny Cancel, who leads its Electricity Information Sharing and Analysis Center (E-ISAC). The E-ISAC's GridEx, the biggest grid security exercise in North America, took place on Nov. 14-15 with more than 250 participants, including electric and natural gas companies government agencies. NERC warned of evolving cyber threats to the electric grid, "guided by geopolitical events, new vulnerabilities, changes in technologies, and increasingly bold cyber criminals and hackers." In an August report, NERC pushed to develop standards for the power sector on mitigating risk from cloud adoption and artificial intelligence technologies, along with cyber security training for the workforce.
Persons: NERC, Manny Cancel, GridEx, David Gregorio Our Organizations: North American Electric Reliability Corp, Federal Energy Regulatory Commission, U.S . Department of Energy, Thomson Locations: Maryland, North Carolina, Washington, South Carolina, North America, Bengaluru
Biden and Xi arrived in San Francisco on Tuesday, where they were set to hold their meeting on the sidelines the Asia-Pacific Economic Cooperation (APEC) summit. Xi and Biden are expected to meet far from the conference location at a vast estate miles outside of San Francisco carefully chosen for its security, serenity and remoteness. [1/2]U.S. President Joe Biden disembarks from Air Force One at San Francisco International Airport, as he arrives to attend the APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S., November 14, 2023. Xi, a decade Biden's junior, has tightened control over policy, state leaders, the media and military and changing the constitution. Biden is expected to tell Xi that U.S. commitments in the Indo-Pacific are unchanged.
Persons: Joe Biden, Xi Jinping, Xi, Biden, China's, Mao, San Francisco, John Kirby, Joe Biden disembarks, Brittany Hosea, Trevor Hunnicutt, Steve Holland, Michael Martina, Jeff Mason, Heather Timmons, Stephen Coates Organizations: FRANCISCO, Biden, Economic Cooperation, Communist Party, Air Force, San Francisco International Airport, APEC, REUTERS, Rights, Washington, Thomson Locations: Taiwan, South China, Israel, Ukraine, North Korea, San Francisco, Asia, United States, Northern California, San, San Francisco , California, U.S, Rights IRAN, Iran, Washington, China . U.S, China, Europe, Russia, Beijing, Taiwan Strait, East China, Philippines
The US Navy said its drone boats fired lethal weaponry for the first time in the Middle East. Footage of one of the engagements shows Navy personnel operating the drone boat in the open waters. The USV then fires one of the munitions, which includes a first-person view of its trajectory into the simulated target, causing it to detonate on impact. Navy officials said the exercise was designed to advance the lethality and combat potential of drone boats, and future events could broaden the arsenal of these unmanned systems. Beyond drone boats, the Pentagon has taken other measures in recent months to boost deterrence in the region like dispatching an assortment of fighter jets and warships to the area.
Persons: , Ray USV, Devil Ray, NAVCENT, Brad Cooper, Cmdr, Dre Johnson, Jonathan Nye, Justin Stumberg Organizations: US Navy, Navy, Service, US Naval Forces Central Command, . Naval Forces Central Command’s, Digital, Missile System, U.S . Naval Forces Central Command’s, Mass, Islamic Revolutionary Guard Corps Navy, Pentagon Locations: Arabian, U.S, Hormuz, Gulf of Oman, Persian, Iran, American
SEOUL, South Korea (AP) — Samsung Electronics on Tuesday reported its highest quarterly profit for the year as losses from its computer chip business narrowed amid a slow recovery in global demand. Samsung said it expects its business to further improve in coming months, considering the replacement cycles of personal computers and smartphones and the expansion of artificial intelligence-based devices and services, which has been increasing the demand for its DRAM chips. The South Korean technology giant’s 2.43 trillion won ($1.8 billion) operating profit for the three months to September still marked a 77.6% decline from the same period last year as the company in past months has grappled with weak memory chip prices and the global economic shock of Russia’s war on Ukraine. The company’s 67.4 trillion won ($50 billion) revenue for the last quarter was a 12.2% drop from a year earlier. Samsung said the losses from its memory chip business fell from 4.36 trillion won ($3.2 billion) in the second quarter to 3.75 trillion won ($2.78 billion) for the July-September period.
Persons: Samsung Organizations: Samsung Electronics, Samsung Locations: SEOUL, South Korea, Ukraine
ChatGPT-owner OpenAI is exploring making its own AI chips
  + stars: | 2023-10-06 | by ( ) www.cnbc.com   time to read: +4 min
However, since at least last year it discussed various options to solve the shortage of expensive AI chips that OpenAI relies on, according to people familiar with the matter. Meta 's custom chip effort has been beset with issues, leading the company to scrap some of its AI chips, according to a Reuters report. OpenAI's main backer, Microsoft, is also developing a custom AI chip that OpenAI is testing, The Information has reported. Demand for specialized AI chips has soared since the launch of ChatGPT last year. Nvidia is one of the few chipmakers that produces useful AI chips and dominates the market.
Persons: Sam Altman, Altman, OpenAI, Bernstein, Stacy Rasgon, Meta Organizations: Reuters, Nvidia, OpenAI, Microsoft, Amazon.com, Annapurna Labs, Devices
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