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☆ The FTC is readying an investigation into Microsoft's cloud-computing business: report
▼ + stars: | 2024-11-14 | by ( Lakshmi Varanasi | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Cloud computing is a multibillion dollar industry that includes players like Amazon, Microsoft, and Google. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Federal Trade Commission is reportedly gearing up to launch an investigation into Microsoft's cloud computing platform, Azure, based on allegations that the company is using anti-competitive tactics to maintain its dominance in the cloud market. Last year, the FTC sought public feedback on cloud providers' business practices. AdvertisementThough he faces an uphill climb toward Senate approval, Gaetz has historically supported antitrust suits amid his accusations that big tech organizations censor conservative voices.

Persons: —, Lina Khan, Donald Trump's, — she's, Khan, Biden, Kahn, Mark Cuban, Kamala Harris, Alexandria Ocasio, Cortez, Harris, Trump, Matt Gaetz, Gaetz Organizations: Federal Trade Commission, Microsoft, Google, Service, FTC, Financial Times, Big, Fortune Business, Apple, Department of Justice Locations: Rep, Alexandria

☆ OpenAI's former head of 'AGI readiness' says that soon AI will be able to do anything on a computer that a human can
▼ + stars: | 2024-11-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Brundage was a key figure in AGI research at OpenAI. He was also responsible for some of OpenAI's biggest safety research innovations, including external red teaming, which involves bringing outside experts to look for potential problems in the company's products. AdvertisementBrundage said his departure, at least, was not motivated by specific safety concerns. "I'm pretty confident that there's no other lab that is totally on top of things," he told Hard Fork. He told Hard Fork that he still stands by the decision and elaborated on why he left.

Persons: Miles Brundage, OpenAI, Brundage, —, we're, John Schulman, AGI, Dario Amodei, Anthropic Organizations: Service, AGI

☆ Warren Buffett's Berkshire Hathaway has reduced its big stake in Apple by two-thirds in the last year
▼ + stars: | 2024-11-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Berkshire Hathaway reduced its Apple stake again in the third quarter of 2024. Warren Buffett's company has now cut its shares in Apple by two-thirds over the last year. AdvertisementWarren Buffett's Berkshire Hathaway has cut its stake in Apple — again. Berkshire Hathaway reduced its holdings in the iPhone maker to just under $70 billion, according to its third-quarter earnings report, which was published Saturday. Berkshire Hathaway has consistently sold shares and grown its stockpile of cash over the last year.

Persons: Berkshire Hathaway, Warren Buffett's, Buffett, —, Warren, Apple — Organizations: Apple, Service, Berkshire, Bank of America, CNBC Locations: Berkshire, Omaha

☆ Canada alleges Indian minister Amit Shah behind plot to target Sikh separatists
▼ + stars: | 2024-10-30 | by ( ) www.cnbc.com time to read: +2 min

The Canadian government alleged on Tuesday that Indian Minister of Home Affairs Amit Shah, a close ally of Hindu nationalist Prime Minister Narendra Modi, was behind the plots to target Sikh separatists on Canadian soil. The Washington Post newspaper first reported that Canadian officials alleged Shah was behind a campaign of violence and intimidation targeting Sikh separatists in Canada. India has called Sikh separatists "terrorists" and threats to its security. Sikh separatists demand an independent homeland known as Khalistan to be carved out of India. The Canadian case is not the only instance of India's alleged targeting of Sikh separatists on foreign soil.

Persons: Narendra Modi, Amit Shah, of Home Affairs Amit Shah, Canada's, Shah, David Morrison, Morrison, Indira Gandhi, Hardeep Singh Nijjar, Vikash Yadav, Gurpatwant Singh Pannun Organizations: Indian, India's, of Home Affairs, Washington Post, Foreign, Commission of, FBI, West Locations: Varanasi, Canada, U.S, Commission of India, Ottawa, India, Washington, Indian, New York City, China

☆ Google DeepMind CEO Demis Hassabis explains what needs to happen to move from chatbots to AGI
▼ + stars: | 2024-10-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Google DeepMind CEO Demis Hassabis says "AI agents" are the next phase of AI after chatbots. According to Demis Hassabis, the CEO of Google DeepMind and a recently minted Nobel laureate, there isn't any secret formula to get there. Hassabis pointed to AlphaGo, DeepMind's AI that first defeated humans in Go, demonstrating reasoning skills in the game's defined domain. Hassabis pointed to AlphaGo, DeepMind's AI that first defeated humans in Go, demonstrating reasoning skills in the game's defined domain. They can use hardware like robots in the physical world, software like a calculator, or even other AI systems.

Persons: Demis Hassabis, —, Hassabis, they've Organizations: Google, Service, The Times Tech

☆ This is OpenAI CEO Sam Altman's favorite question about AGI
▼ + stars: | 2024-10-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Earlier this year, Sam Altman discussed the future of artificial general intelligence at Harvard. Altman said he envisions AGI as a tool to enhance productivity and create shared intelligence. OpenAI's mission is to develop AGI, a form of intelligence that mimics human reasoning. AdvertisementSam Altman, the CEO of OpenAI, is always in the media spotlight, fielding many questions. It showed him one part of "what the post-AGI world can look like," Altman said on the Life in Seven Songs podcast.

Persons: Sam Altman, Altman, —, Patrick Chung, OpenAI, AGI, — Altman, we're, it'll, Rob Price Organizations: Harvard, Service, Harvard Business School

☆ Big Tech is spending big on nuclear to power its AI ambitions. Here's where they are placing their bets.
▼ + stars: | 2024-10-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Major tech companies are investing in nuclear power to support AI data centers. Nuclear energy provides clean, constant power for data centers. AdvertisementTech companies are turning to nuclear power to advance their AI ambitions. Aside from generating enormous amounts of power, nuclear power is also an attractive choice for companies hoping to meet global net zero goals. AdvertisementHere's a closer look at how tech companies are investing in nuclear energy.

Persons: —, Kathryn Huff Organizations: Service, Tech, Google, Companies, University of Illinois, Department of Energy Locations: University of Illinois Urbana, Champaign

☆ OpenAI will need to prove it's in the public's best interest as it becomes a for-profit company
▼ + stars: | 2024-10-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

But strategy advisors say it'll need to get more serious about defining its public benefit. Unlike traditional for-profit businesses, which are primarily focused on maximizing shareholder value, public benefit corporations must balance stakeholder interests with those of their employees and customers. Investors can also question why a company isn't progressing on its stated public benefit. It will also need to define its "public benefit" as part of its new corporate charter, he added. So as OpenAI restructures, the pressure is now on the company to clearly articulate its public mission and show that it's serious about it.

Persons: —, OpenAI, Axios, Travis Borden, Keene, OpenAI's, Borden, Altman, Ilya Sutskever, Jan Leike, Mira Murati, restructures, Jens Dammann Organizations: Service, Legal, Institute, Cornell Law School, Keene Advisors, University of Texas School of Law, Business Locations: Silicon, Delaware, —

☆ Goldman Sachs just refreshed its conviction lists of global stocks, giving 3 over 20% upside
▼ + stars: | 2024-10-14 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Goldman Sachs has refreshed its lists of top global stock picks, adding some and removing others. There have also been plenty of additions to the Directors' Cut, including the following three stocks which Goldman also gives more than 20% upside potential over the next 12 months. Goldman has a 12-month target price of £52 ($68) on the stock, implying nearly 33% potential upside. The bank's analyst Andrew Baker likes that the company is "well positioned for central bank policy rate easing." Goldman has a target price of 7.80 Singapore dollars on the stock, implying 20.4% potential upside.

Persons: Goldman Sachs, Goldman, Experian, Suhasini, Assicurazioni Generali, Andrew Baker, Baker, Keppel, Xuan, Tan, — CNBC's Michael Bloom Organizations: Companies, Qantas Airways, Shell, London Stock Exchange, U.S, Milan Stock Exchange, Keppel, Singapore Exchange Locations: Asia, Europe, Danish, Suhasini Varanasi, Italy, Goldman's Asia, Singapore, U.S

☆ Who is Demis Hassabis, the DeepMind founder who won the Nobel Prize in chemistry?
▼ + stars: | 2024-10-13 | by ( Sam Shead | Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Demis Hassabis won the 2024 Nobel Prize for Chemistry. Hassabis cofounded DeepMind, which Google acquired in 2014. Go to newsletter preferences Thanks for signing up! AdvertisementDemis Hassabis, the cofounder of the renowned artificial intelligence lab DeepMind, is recognized worldwide as one of the leading thinkers in his field. Hassabis and his fellow DeepMind coworker, John Jumper, were awarded the 2024 Nobel Prize for Chemistry for their work on protein structure prediction.

Persons: Demis Hassabis, Hassabis, DeepMind, —, Demis, John Jumper Organizations: Chemistry, Google, Service, Guardian, University of Cambridge, University College London

☆ Feeling the pinch, groceries become a 'splurge' for millennials and Gen Z
▼ + stars: | 2024-10-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Younger generations spend more on groceries than other categories, a McKinsey report says. The firm asked over 4,000 people, from baby boomers to Gen Zers, about the categories they intend to splurge on this year. Groceries ranked highest for millennials and Gen Zers, outpacing restaurants, bars, travel, beauty and personal care, apparel, and fitness. It's a notable shift from 2018 when older generations like baby boomers and Gen Xers still spent more on groceries than millennials. It surveyed baby boomers to Gen Zers, not baby boomers to Gen Xers.

Persons: Moodys, —, Splurging, what's, Gen Zers, It's, Gen Xers, Zer, Peter Pham, Pham, Moody's Organizations: McKinsey, Service, McKinsey & Company, millennials, Forbes

☆ If there's a body part that can wear AI, there's a 'good chance' Meta has tried to develop it, CTO says
▼ + stars: | 2024-10-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Meta's Reality Labs is exploring all kinds of wearable AI tech, CTO Andrew Bosworth says. Reality Labs, known for VR and AR, has also faced budget cuts and layoffs. AdvertisementThe rapid advancement of wearable technology is making it easier to accessorize with incorporate AI. Bosworth oversees Reality Labs, the division of Meta that produces virtual reality and augmented reality hardware and software. Behind the scenes, Reality Labs has many projects, from camera earbuds to mixed reality goggles.

Persons: Andrew Bosworth, —, there's, we've, Bosworth, it's, Meta Organizations: Labs, VR, Service, Meta, Command, Reality Labs, Orion, Business Locations: Meta

☆ Want to get into the AI industry? Head to Abu Dhabi.
▼ + stars: | 2024-10-08 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +5 min

The UAE's AI minister believes we'll have "centers and nodes of excellence across the world." Last year, the country's wealthiest emirate, Abu Dhabi, launched Falcon — its first open-source large language model. Abu Dhabi's ruling family also controls several of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority and Mubadala Investment Company, a founding partner of MGX. In 2010, New York University launched a branch in Abu Dhabi that has since developed a focus on AI. Its "true strengths lie in the leadership's strategic vision, substantial investments in AI research and compute capacity, and government-led initiatives in industry.

Persons: we'll, —, Omar Sultan Al Olama, Al Olama, Abu Dhabi's, PwC, It's, Mohamed bin, Abu Dhabi, Nancy Gleason, Mohamed Organizations: United, United Arab Emirates, Service, Stanford's Center, Atlantic Council, International Trade Administration, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Atlantic, New York University, University of Artificial Intelligence, Intelligence, NYU Abu Locations: United Arab, Silicon Valley, Malta, Paris, United Arab Emirates, UAE, Silicon, Abu Dhabi, United States, China, Dubai, University, Abu, NYU Abu Dhabi

☆ AI expert Gary Marcus thinks OpenAI will be the 'most Orwellian company of all time'
▼ + stars: | 2024-10-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

AI expert Gary Marcus says OpenAI may be forced to become a surveillance company to make money. AI expert Gary Marcus says the company shaping the global AI arms race is on the cusp of turning what Orwell imagined into reality. "What they're going to be pressed to do is become a surveillance company." But Marcus thinks the company won't be able to earn enough money to support its valuation that way because the technology isn't advanced enough. Marcus suspects that OpenAI will eventually tap into this potential income stream and become a powerful surveillance company.

Persons: Gary Marcus, OpenAI, —, George Orwell's, Orwell, Peter Norvig, Marcus, Paul Nakasone, Edward Snowden, Snowden, Sam Altman, Altman, he's Organizations: Service, Google, Stanford's, Capitol, Business Locations: that's

☆ Former Google CEO Eric Schmidt says we should go all in on building AI data centers because 'we are never going to meet our climate goals anyway'
▼ + stars: | 2024-10-06 | by ( Kenneth Niemeyer | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

AI models require enormous data centers that threaten goals to reduce carbon emissions. Schmidt said "we are never going to meet" the goals anyway, suggesting we let AI solve the problem. AdvertisementFormer Google CEO Eric Schmidt says it's time for us to fully invest in AI infrastructure because climate goals are too lofty to reach anyway. The AI boom has spurred a wave of spending on data centers, which provide the computational power needed to train and run AI models. But the surge in development comes at a price, as data centers consume huge amounts of natural resources.

Persons: Eric Schmidt, Schmidt, —, Biden, Schmidt's, Schmidt —, it's, we're Organizations: Service, McKinsey, Washington DC, National Security, Artificial Intelligence, Stanford University Locations: Washington, Ukraine

☆ Steve Jobs once said what he really thinks about consultants — to a group of consultants
▼ + stars: | 2024-10-05 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Steve Jobs was not the biggest fan of consulting. Jobs once criticized consulting in a 1992 talk at MIT, where some consultants were present. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe late Apple founder, Steve Jobs, once had some choice advice for consultants: "You should do something." The Apple founder certainly took his own advice.

Persons: Steve Jobs, Jobs, —, Gen, Apple's, Walter Isaacson, you've Organizations: MIT, Service, Apple, NeXT

☆ Here's what OpenAI employees are saying about the company's future
▼ + stars: | 2024-09-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

OpenAI plans to restructure into a for-profit company, moving away from nonprofit board oversight. Here's what some former and current employees are saying about the latest changes. AdvertisementAfter a whirlwind week for OpenAI, former and current employees are weighing in on the company's path forward. Gretchen Krueger, a former policy researcher at OpenAI, said the company's nonprofit governance structure and cap on profits were part of the reason she joined in 2019 — the year that OpenAI added a for-profit arm. "Those of us at @OpenAI working on o1 find it strange to hear outsiders claim that OpenAI has deprioritized research.

Persons: —, Mira Murati, Barret Zoph, Bob McGrew, Sam Altman, OpenAI, hasn't, Altman, OpenAI's, Jan Leike, Gretchen Krueger, Noam Brown, Brown, Mark Chen, I've, it's Organizations: Service, OpenAI, Italian Tech, Outsiders, o1, Business Locations: Murati

Consulting firms have faced increased employee turnover after layoffs and delayed start dates. For decades, business students and MBAs looked to consulting because the work was high in pay and prestige. AdvertisementThe lure of other industriesThe declining appeal of the consulting industry is most evident in the number of employees leaving. That's different from when he left in 2022, when there was a pandemic-fueled boom for consulting work. "When I was transitioning out of consulting, consulting was actually still all the rage.

Persons: —, MBAs, Jason Saltzman, Lightbank, Ezra Gershanok, Gershanok, Gorick Ng, Ng, Matt Sternberg, Sternberg, he's, who've, Consulting hasn't, Ernst, Young, Irmgard Naudin, Cate, Atli Thorkelsson, Thorkelsson Organizations: Service, Accenture, Technologies, McKinsey, Harvard University, Boston Consulting Group, BI, Big, Consulting, Redpoint Ventures, Business Locations: —, London

☆ OpenAI has 2 years to transition to a for-profit company. Here are 6 key things it will need to do in that time.
▼ + stars: | 2024-09-29 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

OpenAI is transitioning to a for-profit company so it can raise billions more in funding. The company has operated under a nonprofit board since its launch, adding a for-profit arm in 2019. Almost a year later, many of those who disagreed with Altman's approach are gone, and OpenAI is transitioning into a fully for-profit company. There are several complex steps the company will need to take to make this change in under two years. AdvertisementAltman's equityUnder the new structure, Altman is set to get equity in the company.

Persons: —, OpenAI, Sam Altman, Alexander Reid, Altman, It'll, Jill Horwitz, Greg Brockman Organizations: Service, Microsoft, Nvidia, Wall Street, UCLA, Elon Musk Locations: OpenAI, Delaware

☆ Anthropic's comms chief mocks OpenAI after cofounder's bizarre tweet about jacuzzis and the Middle Ages
▼ + stars: | 2024-09-27 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

An Anthropic executive jumped at the opportunity to mock OpenAI in response. AdvertisementTech rivalries are always a hot topic on X, and on Friday, an Anthropic executive couldn't help but take a jab at OpenAI. OpenAI cofounder Wojciech Zaremba took to X on Friday to wax poetic about the latest high-profile departures. He likened the exits of Murati, Zoph, and McGrew to children dying in the Middle Ages. Just hours later she wrote on X, "Happy to report that Anthropic's co-founders all still merrily work at the company.

Persons: OpenAI, Mira Murati, Bob McGrew, —, Sam Altman, Altman, Barret Zoph, Wojciech Zaremba, Zaremba, McGrew, Sasha de Marigny, Anthropic, Anthropic's, Anthropic’s, — Sasha de Marigny, John Schulman Organizations: Service, OpenAI Locations: Murati

☆ From passion to profit: OpenAI's latest shakeup shows the AI race is about who has the deepest pockets
▼ + stars: | 2024-09-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Altman could reportedly receive a 7% equity stake, which would be worth about $10.5 billion at OpenAI's new valuation. In March, The New York Times reported Murati raised concerns about Altman's leadership style to the board before the ouster. Barret Zoph, the company's vice president of research, and Bob McGrew, OpenAI's chief research officer, are also departing the startup, Altman announced on X . "I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," Altman wrote.

Persons: —, Sam Altman, Altman, Mira Murati, Slack, Murati, Barret Zoph, Bob McGrew, Joel Saget, Jenny Chang, Rodriguez, Meta —, it's, Elon Musk's, OpenAI Organizations: Service, Business, Employees, The New York Times, Lakshmi, OpenAI's, Meta, Reuters, Anthropic Locations: OpenAI, Lakshmi Varanasi

☆ It looks like Sam Altman will get richer off of OpenAI after all
▼ + stars: | 2024-09-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI is working to revamp its business structure so that it's no longer controlled by a nonprofit board, according to a new report. This story is available exclusively to Business Insider subscribers. The company has been controlled until now by the nonprofit board — a relic of its original launch as a nonprofit in 2015. The company is seeking to remove a cap on returns for investors, sources told Reuters. "Feels part of the necessary normalization of OpenAI into a regular corporate structure, which paves the way to an IPO."

Persons: —, Sam Altman, OpenAI, Altman, Altman hasn't, he's, OpenAI didn't, Ilya Sutskever, Jan Leike, Greg Brockman, Mira Murati, Matt Turck, who's, Ada Organizations: Service, —, Business, Reuters, Street, Senate, Busines Locations: OpenAI

☆ Caroline Ellison is a math whiz, trader, and shadow figure behind FTX's collapse. She's being sentenced for her role in the fraud case.
▼ + stars: | 2024-09-24 | by ( Lakshmi Varanasi | Grace Dean | Huileng Tan | ) www.businessinsider.com time to read: +1 min

Caroline Ellison was the CEO of Alameda Research, a trading firm launched by Sam Bankman-Fried. She oversaw bets Alameda took with customer funds. She will be sentenced for her role in the fraud case on Tuesday. In August 2022, Ellison became the head of Alameda Research, Bankman-Fried's trading firm that was closely intertwined with his fallen crypto exchange, FTX. By November, as FTX swiftly spiraled into bankruptcy, Ellison began to draw attention for her role in overseeing the risky bets Alameda took with customers' funds.

Persons: Caroline Ellison, Sam Bankman, —, Ellison, FTX Organizations: Alameda Research, Alameda, Service, Business

☆ Sam Altman's Worldcoin turns your iris into a code for universal basic income. Its privacy chief wants you to chill about your data.
▼ + stars: | 2024-09-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +9 min

The technology is similar to Apple's Face ID but mobile platform-agnostic, given that many Worldcoin users have Android devices. So I can take a photo of your face, and, through complicated AI, I could fool Face ID, for example. If it is the first time, the orb takes the iris code and cryptographically processes the iris code. Individually, neither of those new codes looks anything like the iris code, nor can they be brought back to the iris code on their own. To get an iris code, you have to recombine all of those pieces.

Persons: Sam Altman's, Worldcoin, It's, Damien Kieran, Elon Musk, Kieran, they're, it's, Alex, Sam Altman Organizations: Service, Business, Companies, Humanity, Twitter, Google Locations: Germany, France, Kenya

☆ Google CEO Sundar Pichai says AI will advance humanity in these 4 key ways
▼ + stars: | 2024-09-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Google CEO Sundar Pichai spoke about AI's potential at the UN's Summit of the Future. Pichai said AI will help sustainable development, scientific discovery, and climate action. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBig Tech companies like Google are betting that AI technology will help them earn billions in profits, and they're funneling tons of resources toward the technology.

Persons: Sundar Pichai, Pichai, — Organizations: UN's, Google, Service, Big Tech, Business

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