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☆ Generative AI needs tools to avoid copyright infringement, Databricks' Naveen Rao says — or more companies could meet Napster's fate
▼ + stars: | 2023-10-10 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Naveen Rao is VP of Generative AI at Databricks and co-founder of LLM-training platform MosaicML. Rao says copyright infringement could prevent companies from successfully monetizing AI. Rao, who oversees generative AI strategy for Databricks after it bought his startup MosaicML for $1.3 billion, likens it to the issue that crushed Napster, the 2000s-era music-sharing platform. "We build tools that enable companies to differentiate their AI from everyone else's and leverage their data uniquely," Rao told Insider. The more people building generative AI technology the better, Rao says.

Persons: Naveen Rao, Rao, —, ChatGPT, Jodi Picoult, George R.R, Martin, OpenAI, he's Organizations: Service, Napster, Apple, iTunes, Thrones, Metallica, Qualcomm, Intel

Analysts said the probe could slow capacity expansion and the capital spending cycle of China's battery suppliers, although the move should not pose a big downside risk for Chinese EVs. Hong Kong shares of market leader BYD fell more than 3%. Nio and Geely declined to comment on the EU probe, while BYD, Xpeng and SAIC did not respond to requests for comment. GROWING MARKET SHAREEU officials believe Chinese EVs are undercutting the prices of local models by about 20% in the European market, piling pressure on European automakers to produce lower-cost electric vehicles. It accounted for 40.25% of EV exports from China between January and April 2023, up from 36.5% in 2022.

Persons: Angelika Warmuth, Ursula von der Leyen, BYD, CATL, der Leyen, Li Qiang, Cui Dongshu, EVs, Donny Kwok, Brenda Goh, Ryan Woo, Anne Marie Roantree, Tom Hogue, Jamie Freed Organizations: BYD Company, REUTERS, China, EV, European Commission, EU . European, Analysts, HK, Geely, SAIC, EU, Chamber of Commerce, China Passenger Car Association, Center, Strategic, Internal Studies, Volvo, Thomson Locations: Munich, Germany, Europe, HONG KONG, SHANGHAI, Hong Kong, Beijing, Shanghai, Xpeng, Shenzhen, SZ, China, Moscow, Russian, Ukraine, New Delhi, Brussels, U.S

Here are the big questions about the move, which led to a slide in shares of Chinese EV makers on Thursday:WHY EXPORT TO EUROPE AND HOW MUCH HAS IT GROWN? That is mainly due to Beijing's decade-old industry promotion policy of incentives and subsidies that enabled China to become the world's biggest EV market and control the global EV supply chain, including raw materials. The single largest exporter is Tesla, accounting for 40% of China's EV exports between January and April, U.S. thinktank the Center for Strategic and International Studies says. Chinese state subsidies for electric and hybrid vehicles totalled $57 billion between 2016 and 2022, consultants AlixPartners have estimated. It paid out nearly $15 billion to encourage EV purchases through 2021, China Merchants Bank International has estimated.

Persons: Annegret, Bill Russo, EVs, BYD, AlixPartners, Brenda Goh, Ellen Zhang, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Rights, European Commission, EV, EU, Volkswagen, Renault, BMW, WHO, Center for Strategic, International Studies, Volvo, SAIC's, MG, HK, China Merchants Bank International, Thomson Locations: Berlin, Germany, China, Shanghai, Europe, United States, CHINA, Netherlands, Denmark

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

Western automakers are rattled, with Carlos Tavares, the CEO of Peugeot-to-Fiat carmaker Stellantis (STLAM.MI), warning last month of an "invasion" of cheap Chinese EVs in Europe. But Chinese brands are likely to struggle to sell cars in Europe as cheaply as at home. CONSUMER TRUSTWhile some Chinese brands, such as MG, are well known in Europe, others like XPeng (9868.HK) and Nio need to build trust. Surveys indicate most potential EV buyers in Europe do not recognise Chinese brands. But among those aware of Chinese brands, 1% or fewer would consider buying one.

Persons: Annegret, Carlos Tavares, Chen Shihua, ” Shihua, Spiros Fotinos, Alexander Klose, BYD, Geely’s Lynk, Tesla, Aiways, Zeekr's Fotinos, ” Fotinos, Klose, Victoria Waldersee, Zhang Yan, Gilles Gillaume, Giulio Piovaccari, Mark Potter Organizations: REUTERS, HK, Allianz . Western, Peugeot, Fiat, EV, New Energy Vehicle, Jato Dynamics, Logistics, Geely, South Korean, YouGov, GAC, Victoria, Thomson Locations: Berlin, Germany, Europe, BERLIN, China, Beijing, Munich, Milan

Delivering affordable electric vehicles (EVs) has become a priority for car makers worldwide as the shift to cleaner driving has come with high prices, due largely to battery costs. In 2022, Chinese car makers had a 9% share of Europe's EV market, nearly double the previous year's figure, according to forecasts by consultancy Inovev. Tavares said Western car makers needed to use "the same weapons" as their Chinese rivals, sourcing parts in lower cost countries and striking partnerships with battery suppliers that offer the best combination of energy, cost and weight. Once-dominant Western automakers are also striving to regain ground in China itself, the world's largest car market, after losing share to local manufacturers. Mercedes-Benz (MBGn.DE) said on Thursday it was sticking to its strategy and would not engage in a price war to "buy" market share in China.

Persons: France's, Thierry Pieton, Luca de Meo, Tesla, Carlos Tavares, Tavares, Mercedes, Ola Kaellenius, Kaellenius, Victoria Waldersee, Silvia Aloisi, Mark Potter Organizations: Western, France's Renault, Finance, Renault, SAIC, Inovev, Jato, Tesla, Peugeot, Fiat, Benz, Mercedes, Thomson Locations: Europe, U.S, Western, China, Berlin

☆ Cramer's Lightning Round: Stay away from Gilead Sciences
▼ + stars: | 2023-05-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon RB Global's year-to-date stock performance. Stock Chart Icon Stock chart icon Cloudflare's year-to-date stock performance. Stock Chart Icon Stock chart icon Mosaic's year-to-date stock performance. Stock Chart Icon Stock chart icon Gilead Sciences' year-to-date stock performance. Stock Chart Icon Stock chart icon Lendingtree's year-to-date stock performance.

Persons: Ritchie, Matthew Organizations: Global, of Hawaii's, Gilead Sciences

☆ China's Zeekr launches electric SUV, targets Europe
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Zoey ZhangCHENGDU, China, April 12 (Reuters) - Chinese electric vehicle maker Zeekr on Wednesday launched a compact, all-electric sport utility vehicle, as it targeted a premium market in China that has been dominated by German automakers. The Geely-owned [RIC:RIC:GEELY.UL] brand said it also planned to offer the SUV-styled Zeekr X and its Zeekr 001 EV sedan in Western Europe without saying when that would be. The company will start delivering the Zeekr X in China from June with a target of delivering 40,000 this year, An said. After Europe, Zeekr will target Asian markets outside China, An said without providing details. It sold 15,234 of its two existing models - the 001 sedan and the 009 multi-purpose vehicle - in the first quarter, accounting for just 2% of China's battery electric vehicle sales.

☆ Stocks making the biggest moves midday: Domino's Pizza, Lucid, Nvidia, Nikola and more
▼ + stars: | 2023-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Lucid Group — The electric vehicle maker tumbled more than 18% after posting fourth-quarter revenue that fell short of analysts' expectations. Mosaic Company — Shares of the fertilizer mineral company added 1.4% on Thursday after Mosaic's quarterly revenue came in higher than expected. The company generated $4.48 billion in revenue, while analysts surveyed by StreetAccount were expecting $4.17 billion revenue. Domino's Pizza , Papa John's International — The pizza chains fell 11% and 7.6%, respectively, after they reported mixed earnings. Nikola — Shares fell more than 7% after Nikola reported quarterly revenue that disappointed analyst expectations.

☆ Uber to introduce EVs in India in push to clean cars
▼ + stars: | 2023-02-20 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 20 (Reuters) - Uber Technologies (UBER.N) said on Monday it will introduce electric vehicles (EVs) in India for ride-sharing, its first move to adopt clean cars amid an Indian government push for greater electrification of public transport and shared mobility. Uber's fleet partners will buy the EVs from Tata Motors (TAMO.NS), India's biggest electric carmaker, Prabhjeet Singh, president, Uber India and South Asia, said during a phone interview on Monday. Even with 25,000 EVs, electric cars will still be a fraction of Uber's current overall active fleet of 300,000 vehicles in India, according to Singh. Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India. Tata rival Mahindra & Mahindra (MAHM.NS) is the only other Indian automaker to build electric cars locally.

☆ VW's China JV with SAIC names Jia Jianxu as its new head
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] People visit the Volkswagen booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly SongSHANGHAI, Feb 20 (Reuters) - Volkswagen's joint venture with China's SAIC Motor (600104.SS) said on Monday it had appointed Jia Jianxu, a veteran executive at the state-owned Chinese automaker, as its new general manager. Since 2018, Jia has been the general manager at Yanfeng Automotive Interiors, a SAIC-owned vehicle seat maker, and helped develop its intelligent cockpit products. Jia's appointment comes as Volkswagen is ramping up its efforts in electric vehicles (EVs) in China, with its I.D. Reporting by Zhang Yan and Brenda Goh Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

[1/2] The rear light of a Dacia Spring electric car is pictured during the Brand Manifesto Dacia event at Le Bourget near Paris, France, September 13, 2022. It also points to the shifting perception of the auto market in India, which posted the fastest growth of any major market in 2022. Renault is studying launching a made-in-India electric version of its Kwid hatchback, the people told Reuters. To qualify for incentives in India, Renault would have to build the car at its alliance plant in southern India and source components locally, the first person said. As a part of the India reboot, Renault also plans to invest in refurbishing and upgrading some of its major dealerships in big cities, the person said.

☆ Mosaic misses profit estimates on lower fertilizer prices, Hurricane Ian damage
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Mosaic Co (MOS.N) on Monday became the latest fertilizer maker to miss third-quarter profit estimates, hurt by damage from Hurricane Ian and cooling prices of crop nutrients. Prices of nutrients such as phosphates and potash have cooled from the near record highs they touched earlier this year as farmers cut back on fertilizer use to rein in costs. Reuters GraphicsRivals Nutrien Ltd (NTR.TO), CF Industries Holdings Inc (CF.N) and Intrepid Potash Inc (IPI.N) missed quarterly profit estimates last week, with top fertilizer maker Nutrien also cutting its full-year earnings forecast. Adjusted earnings in its potash segment more than tripled to $871 million, but earnings in its phosphate segment were flat. Excluding items, however, the company earned $3.22 a share, missing Wall Street consensus of $3.40 as per Refinitiv data.

☆ From copper to cybersecurity, Goldman Sachs picks less obvious stocks to play the clean energy trend
▼ + stars: | 2022-10-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Goldman Sachs has identified four "critical" sectors in the clean energy market, beyond the usual suspects. They are: copper or aluminum, electricity transmission, semiconductors and cybersecurity. The bank's picks include: Copper and aluminum: Major U.S. copper producer Freeport-McMoRan , aluminum manufacturer Constellium . Electricity transmission: U.S. energy infrastructure firm Sempra Energy , Public Service Enterprise Group . In electricity transmission, the permitting stage alone can take up to a decade or longer, said Goldman.

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