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☆ Bret Taylor’s AI startup Sierra raises funding at $4.5 billion valuation
▼ + stars: | 2024-10-28 | by ( Kate Rooney | ) www.cnbc.com time to read: +2 min

Bret Taylor, co-CEO of Salesforce, speaks at the Viva Technology Conference in Paris on June 15, 2022. Artificial intelligence startup Sierra, co-founded by ex-Salesforce co-CEO Bret Taylor, is more than quadrupling its valuation to $4.5 billion in a fresh funding round. The San Francisco-based company, which was valued at $1 billion in January, raised $175 million in a funding round led by Greenoaks Capital. Sierra is focused on helping enterprises like home security company ADT , Sonos , Weight Watchers and Casper personalize and implement AI agents for customer service. Taylor describes Sierra as "conversational AI," and bristles at the word "chatbot," even banning the phrase in the company's downtown San Francisco office.

Persons: Bret Taylor, Sierra, Taylor, Marc Benioff, Elon Musk, Clay Bavor, Casper personalize, Bavor, ICONIQ, Josh Kushner’s Organizations: Salesforce, Viva Technology Conference, Greenoaks Capital, Twitter, Elon, Google, Sierra, Google Labs, CNBC Locations: Paris, San Francisco

☆ Elon Musk says voting by mail is ‘insane’ — but he has done it himself, records show
▼ + stars: | 2024-08-30 | by ( David Ingram | ) www.cnbc.com time to read: +7 min

Elon Musk has attacked voting by mail as an "insane" idea that encourages election fraud, but he voted by mail twice when he lived in California, according to records of his voting history obtained by NBC News. Musk voted by mail in November 2016, the year Donald Trump defeated Hillary Clinton, and in the November 2018 midterm election, the records show. The state records show that Musk had a sparse history of voting in California. This is the first time Musk's California voting records have been made public. Voting by mail was the choice of a majority of California voters both times Musk voted.

Persons: Elon Musk, Tesla, Porte, Musk, Donald Trump, Hillary Clinton, Barack Obama, John McCain, Mitt Romney, It's, Trump, Trump's, Kamala Harris, Clinton, Joe Biden Organizations: Viva Technology, Porte de, NBC News, NBC, Social, PAC, America PAC, Daily, SpaceX, Business, Tesla, White House Locations: Paris, France, California, Los Angeles, U.S, Texas, USA, North Carolina, Wisconsin, America, Brownsville , Texas, Austin, Florida

☆ Bitcoin rally helps create more than 84,000 new crypto millionaires in a year
▼ + stars: | 2024-08-27 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in Paris, France, on March 5, 2024. Chesnot | Getty Images News | Getty ImagesThe population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report. There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.

Persons: Robert Frank, bitcoin, Andrew Amoils, Zhao, Changpeng Zhao, Binance, Benoit Tessier Organizations: Chesnot, Getty, Wealth, Henley & Partners, Forbes, Viva Technology, Porte de Locations: Paris, France, Henley, U.S, Porte

☆ Meta’s Reality Labs posts $4.5 billion loss in second quarter
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

A visitor wears a virtual reality headset Meta Quest as he takes part in an immersive experience stand during the Viva Technology show at Parc des Expositions Porte de Versailles on May 24, 2024 in Paris, France. As part of the company's second-quarter earnings report on Wednesday, Meta's Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. In September, Meta debuted the Quest 3 VR headset, which has a starting price of $499. Zuckerberg has pointed to advances in artificial intelligence and related large language models as improving the capabilities of smart glasses. Meta's second generation of smart glasses went on sale in October with a starting price of $299.

Persons: Porte de Versailles, StreetAccount, Mark, Meta, Ray, Ban, Zuckerberg, Francesco Milleri Organizations: Viva Technology, Parc, Labs, Reality Labs, Apple, CNBC, Meta Locations: Paris, France, China

☆ Elon Musk’s transgender daughter, in first interview, says he berated her for being queer as a child
▼ + stars: | 2024-07-25 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Vivian Jenna Wilson, the transgender daughter of Elon Musk, said Thursday in her first public interview that he was an absent father who was cruel to her as a child for being queer and feminine. Wilson, 20, in an exclusive interview with NBC News, responded to comments that Musk made Monday about her and her transgender identity. She told NBC News that at the time, she was surprised by the media attention to the court filing, which she submitted when she was 18. Wilson told NBC News that those anecdotes are not true, though she said she did act stereotypically feminine in other ways as a child. Musk told Peterson that Wilson's gender transition has been the motivation for his push into conservative politics.

Persons: Elon Musk, Porte, Vivian Jenna Wilson, Wilson, Musk, I'm, Musk's, Justine Musk, He's, Donald Trump, Jordan Peterson, Peterson, Walter Isaacson —, Christiana Musk, she's, Jenna, Isaacson, Wilson —, Let's, they'll, — CNBC's Lora Kolodny Organizations: SpaceX, Tesla, Viva Technology, Porte de, NBC News, NBC Locations: Paris, Los Angeles, Tesla, California

☆ Inside Europe's tech hubs: France's AI push puts it on the rise
▼ + stars: | 2024-06-27 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +31 min

Brimming with entrepreneurs and around 1,000 startup companies, it embodies France's exciting tech industry. So if you could rank Europe's tech hubs, what would be your top three? But I'm really excited about Lisbon actually, I know the Mayor of Lisbon pretty well, have been hearing really positive things. I mean things like that could just be completely deprioritized, which is essentially what has been helping us move things forward in France. Under Macron what have been for you the big positives that have come out of his presidency and tech push more broadly.

Persons: Tom Chitty, Roxanne Varza, Bruno Le Maire, Tom Chitty The, you'll, Arjun, I've, Roxanne, Macron, we'd, we've, Tom Chitty Let's, Xavier Niel, he's, Roxanne Varza That's, we're, I'm, Roxanne Varza Paris, Tom Chitty Arjun, Arjun Kharpal, What's, There's, you've, haven't, They're, Roxanne Varza Big, Tom Chitty U.S, Arjun Kharpal It's, who's, that's, there's, they've, we'll, Tom, Tom Chitty We'll Organizations: Meta, Google, CNBC, Uber, Accel, Dealroom, Mistral, Viva Tech, Sequoia Capital, Big Tech, Microsoft, French Finance, London Stock Exchange, London . Locations: Paris, France, French, Europe, beyondthevalley@cnbc.com, London, Berlin, U.S, Silicon Valley, Palo Alto, Bay, Amsterdam, Lisbon, Old, Shoreditch, London . Tel Aviv

☆ Britain looks to upstage France with play for world's third major AI hub after U.S., China
▼ + stars: | 2024-06-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.

Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain

☆ The best-funded generative AI startups in Europe have something in common: Big Tech experience
▼ + stars: | 2024-06-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

That figure rose to more than a third (38%) for the top 40 European and Israeli generative AI companies in terms of venture funding raised, and 60% for the top 10 generative AI companies for funding levels. Google bought British AI lab DeepMind in 2014, and the firm's tech is now key to AI products including its Gemini generative AI tools. Many AI founders are professors, tooAccel noted universities play a major role in the creation of generative AI startups. British universities are the most popular study destination for generative AI founders, Accel's research found. France's Ecole Polytechnique is the second-highest academic founder factory in Europe, with 7% of generative AI founders having studied there.

Persons: Arthur Mensch, Porte de Versailles, Dealroom, Harry Nelis, Europe's, Nelis, Timothee Lacroix, Guillaume Lample, Laurent Sifre, Karl Tuyls, Charles Kantor, Mistral, Accel, —, Lourdes Agapito, Agapito, Matthias Niessner, Victor Riparbelli, Steffen Tjerrild Organizations: Viva Technology, Parc, Chesnot, Getty, Accel, Apple, Google, Microsoft, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Facebook, Research, Meta, Amazon, Stanford University, British, University College London, UCL, University of Cambridge, France's Ecole Polytechnique Locations: Paris, France, Europe, Israel, Israeli, Alpha Germany, United Kingdom, British, London, France's

☆ Inside Europe's tech hubs: Does London have what it takes to remain No. 1?
▼ + stars: | 2024-06-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +32 min

But it will remain a big, big trend. How has if at all, Brexit, affected the U.K. tech scene? Arjun KharpalAre there other challenges at the moment, as you see them to the U.K. tech landscape? I'm gonna go with the amount of VC funding in U.K. tech startups for 2025. Sanjot MalhiI would say that is the amount of funding in U.K. AI startups.

Persons: Tom Chitty, Arjun, we'll, Arjun Kharpal, I've, Sanjot, He's, It's, Tom Chitty I've, we've, it's, Arjun Kharpal Sanjot, fintech, we're, you've, let's, Tom Chitty We're, Franklin Templeton, they're, Masa, Softbank, that's, Arjun Kharpal Sanjay, Emmanuel, Macron, hasn't, who's, Emmanuel Macron, I'm, Sanjot Malhi, Arjun Kharpal That's, Kharpal, Tom Chitty Sanjot Organizations: HSBC Innovation Banking, CNBC, Northzone, Hague Cricket Club, European Union, Competition, Markets Authority, London Stock Exchange, London, Masa, Viva Tech, Mistral, Nvidia Locations: Europe, Dealroom, France, China, London, beyondthevalley@cnbc.com, Netherlands, India, The Hague, Germany, Sweden, North America, Asia, San Francisco, Beijing, Tel Aviv, Bangalore, U.S, British, doesn't, Ukraine, IPOs

☆ Microsoft-backed Mistral AI raises $645 million at a $6 billion valuation
▼ + stars: | 2024-06-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

French founder of artificial intelligence startup Mistral AI, Arthur Mensch, attends the Viva Technology show at Parc des Expositions Porte de Versailles in Paris, France, on May 22, 2024. Mistral AI did not give much detail about the round, but the Financial Times reported that venture capital firm General Catalyst led the round that also included existing investors. Mistral AI, a French tech startup, raised a funding round of 600 million euros, or $645 million, as huge amounts of money continues to pour into the artificial intelligence race. Mistral AI is building so-called large language models, which underpin applications such as chatbots popularized by ChatGPT. In February, Microsoft announced an investment in Mistral AI.

Persons: Arthur Mensch, Porte de Versailles, Catalyst, ChatGPT, Mensch Organizations: Viva Technology, Parc, Mistral, Financial Times, CNBC, Nvidia, Microsoft, Google Locations: Paris, France, European, U.S

☆ AI could power a health-care revolution, but there are some things we need to work out first
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +2 min

Artificial intelligence has the potential to power a health and wellness revolution, but there are some points that need to be ironed out first. "We could literally cure breast cancer with AI," Barrett said, referring to an algorithm that can predict a woman's five-year risk of breast cancer. "A radiologist looked at it and said, 'She doesn't have breast cancer. AI said, 'I think she's going to have breast cancer in the next two to three years.' That is a game changer because breast cancer is curable if you catch it in stage one."

Persons: Chris Tung, Brittany Barrett, Arjun Kharpal, Barrett, Tung Organizations: East Tech, Viva Technology, Alibaba Group, CNBC's Locations: Paris, China, Hangzhou province

☆ California pension fund opposes 'ridiculous' Elon Musk pay package at Tesla
▼ + stars: | 2024-06-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

This pay package is ridiculous," Ailman said on " Squawk on the Street ." The vote this week is to effectively reinstate a 2018 pay package that was struck down by a judge in January. California State Teachers' Retirement System Chief Investment Officer Chris Ailman said the fund opposed the pay package previously and will do so again. The head of a massive California pension fund told CNBC on Monday that he is voting against the revised pay package for Tesla CEO Elon Musk. The billionaire has indicated that he might focus more on his other projects if the Tesla pay package is rejected.

Persons: Elon Musk, Tesla, Porte, Ailman, Chris Ailman, CalSTRS, Musk Organizations: Viva Technology, Porte de, California State Teachers, CNBC, Tesla, SpaceX Locations: Paris, France, California, Tesla, Texas

☆ Bunq, the $1.8 billion European neobank, hopes to secure license for UK expansion this year
▼ + stars: | 2024-06-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a "large and underserved" market of some 2.8 million British "digital nomads." Bunq, known for its rainbow-colored cards and a focus on so-called "digital nomads" not bound by any one country or location, initially launched in the U.K. in 2019. The passage of Brexit into law meant that EU-based financial institutions couldn't rely on their own country authorizations to operate in the U.K. market. Currently, Bunq only holds a banking license with the Dutch central bank. Challenges of reentering UK market

Persons: Pavlo Gonchar, Ali Niknam, it's, Niknam Organizations: Getty, PARIS, CNBC, Viva Tech, reentering Locations: Europe, Paris, U.K

☆ France is aiming to become a global AI superpower — but not without help from U.S. Big Tech
▼ + stars: | 2024-05-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

AI everywhere at Viva TechAt Viva Tech, AI was everywhere. France boasts a strong AI research and development ecosystem, home to key facilities like the Facebook AI Research center from Meta and Google's AI research hub in Paris, as well as leading universities. He referred to H's mammoth funding round as an example of the momentum surrounding French AI right now. watch nowLevy said roughly 40% of the tech demos at Viva Tech were AI. He said that Google's recently introduced Gemma AI, a lightweight, open-source model, was developed heavily at the U.S. internet giant's Paris AI hub.

Persons: Emmanuel Macron, Yoan Valat, Eric Schmidt, Porte, Bruno Le Maire, CNBC's Arjun Kharpal, Le Maire, Etienne Grass, Capgemini, Imran Ghory, Ghory, CNBC's Andrew Ross Sorkin, Macron, Mistral, Yann LeCun, James Manyika, Google's, Maurice Levy, Karen Tso, Levy, Google's Manyika, Gemma AI Organizations: Afp, Getty, PARIS —, Viva Technology, Microsoft, Viva Tech, L'Oreal, Porte de, Facebook, CNBC, Blossom, Meta, Google, Paris, Groupe, U.S, Innovation Locations: Elysee, Paris, France, PARIS — France, China, Europe, Meta, French, U.S, Israel, Dealroom

☆ L’Oreal says it's working on a form of bioprinted skin that can actually ‘feel’
▼ + stars: | 2024-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

L'Oreal says it is working with start-ups and research institutions to bioprint skin that can actually "feel." PARIS, France — French beauty and cosmetics giant L'Oreal is working on a form of synthetically produced skin that it says will one day be able to "feel" like we do. At the Viva Technology conference in Paris last week, L'Oreal showed off demonstrations of "bioprinting," technology that can 3D print humanlike skin, in action. L'Oreal says it ceased testing its products on animals back in 1989, long before it was required by regulation. We're doing it internally but also working with external partners as well," Balooch told CNBC at the firm's booth at VivaTech.

Persons: Balooch Organizations: L'Oreal, Viva Technology, CNBC Locations: PARIS, France, Paris, VivaTech

☆ CEOs of AI startups backed by Microsoft and Amazon are the new tech rockstars
▼ + stars: | 2024-05-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

French founder of artificial intelligence start-up Mistral AI, Arthur Mensch attends the Viva Technology show at Parc des Expositions Porte de Versailles on May 22, 2024 in Paris, France. PARIS — It's not unusual for well-known technology CEOs to be mobbed by fans or start-up founders looking to make connections at industry conferences around the world. VivaTech, one of Europe's biggest tech shows, enjoyed the attendance of Arthur Mensch, the co-founder and CEO of Mistral AI and Anthropic CEO Dario Amodei. Just over a year old, Mistral AI is a French startup that has raised hundreds of millions of dollars and the backing of Microsoft . The astronomical rise of Mistral AI, which develops AI models much like OpenAI, has put the spotlight on its CEO Mensch.

Persons: Arthur Mensch, Porte de Versailles, PARIS —, Dario Amodei, Mensch Organizations: Viva Technology, Parc, PARIS, Mistral, Microsoft Locations: Paris, France, French

☆ 'The future of retail is retail everywhere,' Shopify president says
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'The future of retail is retail everywhere,' Shopify president saysShopify President Harley Finkelstein joins Karen Tso at the Viva Tech conference in Paris, sharing his outlook for the company and the wider retail sector.

Persons: Harley Finkelstein, Karen Tso Organizations: Viva Tech Locations: Paris

☆ Elon Musk predicts smarter-than-humans AI in 2 years. The CEO of China's Baidu says it's 10 years away
▼ + stars: | 2024-05-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Chesnot | Getty ImagesPARIS — Robin Li, CEO of one of China's biggest tech firms Baidu , said artificial intelligence that is smarter than humans is more than 10 years away, even as industry staple Elon Musk predicts it will emerge very soon. Artificial general intelligence, or AGI, broadly relates to AI that is as smart or smarter than humans. Li, whose company Baidu is one of China's leading AI players, signals this isn't realistic. I think [it] is more than 10 years away," Li said during a talk on Wednesday at the VivaTech conference in Paris. "[My] fear is that is that AI technology is not improving fast enough.

Persons: Robin Li, Porte de Versailles, Musk, AGI, Sam Altman, Li, it's, Everyone's Organizations: Baidu, Viva Technology, Parc, Getty, PARIS, Elon Locations: Paris, France, Europe

☆ Big Tech goes on AI charm offensive in Europe as regulators circle
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.

Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S

☆ Musk makes surprise visit to Beijing as Tesla's China-made cars pass data security rules
▼ + stars: | 2024-04-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Local Chinese authorities have removed restrictions on Tesla cars after the company's China-made vehicles passed the country's data security requirements, the automaker said Sunday. Although Tesla's electric cars are some of the most popular vehicles in China, they have reportedly been banned from some government-related properties due to concerns about what data the U.S.-based automaker can collect. Tesla's press release did not specify which local authorities had removed restrictions on the cars. The Biden administration earlier this year announced a probe into whether imported cars from China pose national security risks due to their ability to potentially collect data about the U.S. and send it back to China. Tesla's vehicles were not the only ones that passed the data security rules.

Persons: Elon Musk, Tesla, Porte, Premier Li Qiang, Biden, Li Auto, Nio Organizations: Twitter, Viva Technology, Porte de, BEIJING — Local, Premier, Tesla's, China Association of Automobile Manufacturers, National Computer Network, Coordination Center of China Locations: Paris, France, BEIJING, China, Beijing

☆ Supreme Court rejects Elon Musk over agreement with SEC to vet social media posts
▼ + stars: | 2024-04-29 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

He has long been an impulsive user of Twitter, now renamed X. Musk acquired the social media company in 2022. As part of that agreement, he signed off on the social media provision. His lawyers say in court papers that the SEC has waged an "ongoing campaign" against Musk. The provision "restricts Mr. Musk's speech even when truthful and accurate. The SEC responded in court papers that Musk had waived his right to bringing his argument when he signed off on the settlement.

Persons: Elon Musk, Tesla, Porte, WASHINGTON —, Elon Musk's, Musk Organizations: Twitter, Viva Technology, Porte de, WASHINGTON, Securities and Exchange Commission, New, Circuit, Appeals, SEC, Tesla Locations: Paris, France, New York

☆ U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022. U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday. The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to "reflect the gravity of his crimes." Under advisory guidelines, Zhao's sentencing would come in at a range of 12 to 18 months in prison. "A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing," U.S. prosecutors said.

Persons: Changpeng Zhao, Zhao, —, Binance Organizations: Viva Technology, Porte de, U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission Locations: Porte, Paris, Washington, U.S

☆ Don't bet against Zuckerberg: Meta's earnings-driven stock slide is an opportunity
▼ + stars: | 2024-04-24 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

META YTD mountain Meta Platforms YTD We obviously don't like what we are seeing after hours in the stock. While expecting a similar dynamic to play out now with AI investments, Zuckerberg fully expects the end result to be similar as the team scales its offerings and then begins to monetize the investments. Regarding shareholder returns, the company repurchased $14.6 billion worth of stock during the quarter while returning another $1.3 billion via dividends. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The logo of the U.S. company created by Mark Zuckerberg, Meta is displayed during the Viva Technology conference at Parc des Expositions Porte de Versailles on June 15, 2023 in Paris, France.

Persons: That's, Mark Zuckerberg, we'll, Zuckerberg, China's ByteDance, we've, we're, it's, ChatGPT, Jim Cramer, Joe Biden, Jim, Jim Cramer's, Porte de Versailles Organizations: Revenue, LSEG, Zuckerberg, China's, Meta, Microsoft, Electric, Realty Labs, Daily, People, CNBC, U.S ., Viva Technology, Parc, Chesnot, Getty Locations: U.S, Asia, Pacific, Paris, France

☆ Philippines orders removal of Binance from Google and Apple app stores
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Philippines' Securities and Exchange Commission (SEC) has ordered Google and Apple to remove cryptocurrency exchange Binance from their app stores. In a press release out on Tuesday, the regulator said it had sent letters to Google and Apple requesting the removal of applications controlled by Binance from the Google Play Store and Apple App Store, respectively. The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country's securities laws. Binance, Google, and Apple were not immediately available for comment when contacted by CNBC. Aquino said that blocking Binance from the Google and Apple app stores would help "prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy."

Persons: Zhao Changpeng, Binance, Emilio Aquino, Aquino Organizations: Viva Technology, Porte de, Securities and Exchange Commission, SEC, Google, Apple, Binance, CNBC Locations: Porte, Paris, France, Philippines, Philippine

☆ Elon Musk says in email that Tesla sent 'incorrectly low' severance packages to some laid-off employees
▼ + stars: | 2024-04-17 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla CEO Elon Musk sent an internal email on Wednesday, telling staffers that the company sent out some severance packages that were too low to a number of laid-off workers this week. "As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low," Musk wrote in the brief email. His earlier CEO pay plan, worth $56 billion, was voided in a ruling by Delaware chancery court judge Kathaleen McCormick, who decided that, as CEO, Musk controlled Tesla, and the board's compensation committee wasn't independent, among other factors. Tesla shares have dropped about 37% this year as of Wednesday, closing at $155.45. WATCH: This is a 'fork in the road' period for Musk and Tesla

Persons: Elon Musk, Porte, Musk, Tesla, Kathaleen McCormick Organizations: Twitter, Viva Technology, Porte de, Reuters Locations: Paris, France, Delaware

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