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☆ Pat Gelsinger inherited major problems at Intel. Its next CEO may have to navigate worse.
▼ + stars: | 2024-12-03 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

The mission assigned to Pat Gelsinger when he took over Intel as CEO in 2021 was to restore the then 52-year-old company to relevancy. Its business of designing and manufacturing chips — once industry-leading — was struggling. "By the time Intel began to work on AI chips, it was too late, and the company had basically no market share." Its line of AI chips, known as Gaudi, has paled compared to offerings from competitors like Nvidia. Doing so will require strengthening its fab manufacturing business, which The Futurum Group's Newman notes is no easy feat.

Persons: Pat Gelsinger's, TSMC, Pat Gelsinger, Donald Trump's, —, David Zinsner, Michelle Johnston —, Intel's, Paul Ottelini, Steve Jobs, Peter Cohan, Hamish Low, Justin Sullivan, Gaudi, Gelsinger, Low, Daniel Newman, Newman, Group's Newman, Donald Trump, chipmakers, Anna Moneymaker, Trump, Babson College's Cohan Organizations: Intel, Big Tech, Nvidia, Bloomberg, —, Babson College, Enders Analysis, Getty, Gaudi, Companies, Microsoft, Google Locations: TSMC's

☆ Nvidia's Blackwell era will test the world's most valuable company in a highwire act
▼ + stars: | 2024-11-21 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

To deliver with Blackwell, Nvidia must juggle performance expectations and complex supply chains. How next year plays out will significantly depend on the performance of Blackwell, its next-generation AI chip. The Santa Clara-based chip giant reminded everyone why it has grown more than 200% this year to become the world's most valuable company. AdvertisementNvidia must navigate complex supply chainsFirst, Blackwell is what Nvidia CFO Colette Kress called a "full-stack" system. There had been some recent suggestions that cooling issues were plaguing Blackwell, but Huang seemed to suggest they had been addressed.

Persons: Blackwell, Dan Ives, Jensen Huang, Colette Kress, Kress, Goldman Sachs, Toshiya Hari, Huang, I've, Hopper, Hamish Low, Low Organizations: Nvidia, Blackwell, Revenue, Hopper, SK Hynix, Blackwell's, AMD, Enders Analysis Locations: Santa Clara, Silicon Valley, Connecticut

☆ Citi names 'underappreciated' AI stock as a top pick — giving it 25% upside
▼ + stars: | 2024-10-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Citi has named Pegasystems one of its new top picks, citing an "underappreciated" artificial intelligence story and attractive valuation. The Wall Street bank has set a target price of $92 for Pegasystems, representing a potential 25% upside from its current trading price of around $73.50. Pegasystems, an enterprise software firm, has seen its stock price surge by over 50% year-to-date, outperforming the broader iShares Expanded Tech-Software Sector ETF , which is up nearly 14% this year. Citi analysts view this development as a catalyst for the stock to rise. On a fundamental level, Citi's analysts also believe that Pegasystems' unique approach to artificial intelligence, particularly its "blueprint" strategy, sets it apart from competitors, calling it an "underappreciated gen AI story."

Persons: PEGA, Pegasystems, Appian, Steven Enders, George Kurosawa, JMP, — CNBC's Michael Bloom Organizations: Citi, Software, Appian Corporation, Virginia, Wall, Revenue Locations: Massachusetts

☆ Apple's China rival Huawei just upstaged the iPhone 16 launch
▼ + stars: | 2024-09-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

This year, however, one of its top rivals in China has tried to rewrite the script. To make its challenge even clearer, Huawei is putting the Mate XT on sale in stores on September 20 — the same day the iPhone 16 will be available in China. Huawei's Mate XT will go on sale the same day as the iPhone 16 in China. AdvertisementFor some time now, Apple has anxiously been watching iPhone sales tumble in China. AdvertisementBut in the meantime, iPhones without AI could prove to be a tougher sell in China in the face of stiff competition.

Persons: —, Jamie MacEwan, MacEwan, raring, Gene Munster, Richard Windsor —, Apple Organizations: Service, Huawei, Business, Apple, Enders Analysis, Apple Intelligence, Deepwater Asset Management, Radio Free Mobile, Windsor Locations: China

☆ How the Psychedelics Medicine Bubble Burst - The New York Times
▼ + stars: | 2024-08-23 | by ( Caty Enders | ) www.nytimes.com time to read: +2 min

The drug company Lykos Therapeutics had spent much of this year expecting to vault to meteoric heights. It had sent an application to the Food and Drug Administration seeking approval to use MDMA to treat post-traumatic stress disorder. It was the capstone to months of increasingly loud concerns being voiced over the quality of Lykos’s clinical trials. Lykos has spent years conducting clinical trials testing whether MDMA-assisted psychotherapy could alleviate the symptoms of PTSD. Its most recent drug trial showed that more than 86 percent of people treated had a measurable reduction in symptom severity.

Persons: ”, Lykos Organizations: Lykos Therapeutics, Food and Drug Administration, Lykos, Merck

☆ OpenAI's GPT-5 is coming out soon. Here's what to expect, according to OpenAI customers and developers.
▼ + stars: | 2024-07-30 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

Read previewThe AI arms race continues apace, with OpenAI competing against Anthropic, Meta, and a reinvigorated Google to create the biggest, baddest, model. OpenAI set the tone with the release of GPT-4 and competitors have scrambled to catch up, with some coming pretty close. But will it be enough to set OpenAI — which is apparently hemorrhaging billions of dollars — apart from the increasingly impressive array of other AI models on offer? He expects GPT-5 to be more like going from undergrad to a PhD program, better for sure but not necessarily Earth-shattering. Already many user are opting for smaller, cheaper models and AI companies are increasingly competing on price rather than performance.

Persons: —, that's, OpenAI, Hamish Low, Jake Heller, Heller, Read, He's, Will GPT, Hooman Radfar, he's, Radfar Organizations: Service, Anthropic, Meta, Google, Business, Enders Analysis, GPT, Thomson Reuters Locations: GPT, undergrad

☆ Joe Biden's bombshell revives Elon Musk's ambitions to make X the world's digital town square
▼ + stars: | 2024-07-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

That's right: Biden used X to tell the world he was pulling out of the presidential race. Related storiesThis has all helped build X's case as the internet's digital town square. Spam and abuseThat said, there have been several signs in the months prior suggesting that it is hardly fit to be a digital town square. Pavliuc also notes that X's leaders have struggled to present the app as a "digital town square" that's fair for all. "It's important to think about comparing it to a physical town square where if you scream misogynistic or racist slurs at someone, would that be OK?

Persons: —, Elon, Donald Trump, Joe Biden, That's, Biden, Alex Brandon, Mike Stewart, Linda Yaccarino, Yaccarino, Joseph Teasdale, Alexa Pavliuc, Teasdale, Pavliuc, Onur Dogman, Kamala Harris, Musk, who's Organizations: Service, White, Business, Trump, Twitter, Analysis, Oxford Internet Institute, Democrats Locations: Israel, Gaza

CNN —Josef Newgarden used a scintillating last-lap pass to win the Indianapolis 500 on Sunday for the second consecutive year in a race that started four hours late due to extreme weather. We worked our tails off,” Newgarden told race broadcaster NBC. “Absolutely, they can say whatever they want after this point, I don’t care any more,” Newgarden said after the Indy 500. The Indy 500 regularly shares a date with the famous Monaco Grand Prix, known as the “crown jewel” of the Formula One calendar. Michael Conroy/AP“(Racing at 50) was always my goal, but I don’t want to just ‘do it’,” he told Indy Star.

Persons: CNN — Josef Newgarden, I’m, …, ” Newgarden, Pato O’Ward, Arrow McLaren, Hélio Castroneves, Roger Penske, ” Josef Newgarden, AJ Mast, Tom Blomqvist, Mark J, Newgarden, O’Ward, “, ”, “ It’s, ” O’Ward, Scott Dixon, ” Dixon, Charles Leclerc, Kyle Larson, Larson, ” Larson, Justin Allgaier, Christopher Leduc, Allgaier, John Andretti, Robby Gordon, Tony Stewart, Kurt Busch, Castroneves, Michael Conroy Organizations: CNN, Indianapolis, NBC, Indycar, USA, Sports, Reuters, Team Penske, IndyCar, Indy, Monaco, Larson NASCAR, NASCAR, Indy Star Locations: Indianapolis, St . Petersburg , Florida, Monte Carlo, Indiana, North Carolina, Larson’s

☆ A woman gave herself poop transplants using her brother's feces to treat debilitating IBS. Then she started getting acne just like him.
▼ + stars: | 2024-05-14 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +7 min

A man in his mid-30s with Crohn's disease did DIY poop transplants using his mom as a donor for years. They appeared to ease his gut symptoms, but he experienced menopause symptoms such as sweating, hot flashes, and mood swings, similar to his menopausal mom. Experts in the documentary warned against trying poop transplants at home because there is a risk of transferring bad microbes and susceptibility to all kinds of diseases. After she made the switch, her acne went away, but this time, she experienced depression symptoms. AdvertisementWhen Koepke once again switched back to her brother's poop transplants, the depression went away within a week, she said.

Persons: —, Daniell Koepke, Koepke, Thomas Borody, Guilia Enders, who's, Enders, Jack Gilbert, Gilbert, FMTs Organizations: Service, Netflix, Business, US Food and Drug Administration, Digestive Diseases, UC San Diego Locations: Sydney, Australia

☆ GOP senator asks TikTok's CEO over and over if he's Chinese. He's Singaporean.
▼ + stars: | 2024-01-31 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

During Wednesday's tense congressional testimony over online safety for children, Sen. Tom Cotton repeatedly asked Singaporean TikTok CEO Shou Zi Chew if he's ever been a part of the Chinese Communist Party. An increasingly agitated Chew, who's no stranger to US politicians' prodding, tried repeatedly to shut down the line of questioning by telling the conservative senator that he's Singaporean. "Senator, I'm Singaporean, no," Chew responded. Chew was joined by four other social media companies' CEOs Wednesday for a combative hearing on protecting children online in the Senate Judiciary Committee. Zaveri put it this way:The rhetoric at times seemed to paint the Chinese people with a broad brush and conflated people of Chinese ancestry with the will of the CCP.

Persons: Sen, Tom Cotton, Shou Zi Chew, he's, Chew, Cotton, Jamie MacEwan, MacEwan, Paayal Zaveri, Zaveri, bungled Organizations: Chinese Communist Party, Business, Enders Analysis, Committee, Energy, Commerce, CCP Locations: China, Beijing

☆ Airbus picks sales chief Scherer to run jetmaking arm -sources
▼ + stars: | 2023-09-25 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Airbus Chief Commercial Officer Christian Scherer is interviewed by Reuters at the International Air Transport Association's Annual General Meeting in Boston, Massachusetts, U.S., October 4, 2021. Reuters revealed the plans to reorganise in July and this month Scherer, an Airbus veteran currently serving as chief commercial officer, emerged as one of the main candidates to run the jetmaking arm, which accounts for 70% of revenue. Airbus reorganisations are more sensitive than most because of a history of friction between founders France and Germany. Born in Germany and raised in Toulouse, 61-year-old Scherer has spent his career in the Airbus commercial arm, apart from stints in Defence and as CEO of turboprop affiliate ATR. Insiders say the immediate challenges Scherer faces will be less familiar industrial ones, such as meeting production and delivery targets and managing roughly 80,000 Airbus employees.

Persons: Christian Scherer, Brian Snyder, Guillaume Faury, Scherer, Faury, Fabrice Bregier, Tom Enders, Rob Stallard, Bruno, Frenchman Faury, Olaf Scholz, Tim Hepher, David Goodman, Sharon Singleton Organizations: Airbus, Reuters, International Air, REUTERS, Boeing, Partners, Airbus Helicopters, Defence, Monday Germany, Thomson Locations: Boston , Massachusetts, U.S, PARIS, France, Germany, Toulouse, Europe, China

But the executive transition does not settle another potential power play that could occur upon Rupert Murdoch’s death, as framed by a document called the Murdoch Family Trust. It is the vehicle through which the elder Murdoch controls News Corp and Fox Corp, through a roughly 40% stake in voting shares of each company. The Murdoch Family Trust has eight votes: four of which are controlled by Murdoch, and the remaining four controlled by the four children from his first two marriages. Upon succession, the four older children will equally inherit Murdoch’s voting shares in the trust, according to Alice Enders, Head of Research at Enders Analysis. The shares in Fox and News Corp owned by Murdoch’s children through the trust are a combination of both classes of shares.

Persons: Rupert Murdoch, Lachlan, Mike Blake, Lachlan Murdoch, Rupert Murdoch’s, Murdoch, Prudence, Elisabeth, James –, Murdoch’s, Chloe, Grace, Wendi Deng, Alice Enders ,, “ It’s, ”, Enders, “, Helen Coster, Stephen Coates Organizations: Fox Executive, Allen, REUTERS, News Corp, Corp, Fox Corp, Trust, The, Alice Enders , Head, Research, Enders Analysis, Fox, Thomson Locations: Sun Valley , Idaho, Murdoch, The Reno , Nevada, Melbourne, New York

☆ Taylor Swift helped lift the US economy this summer with her Eras Tour — she can't get back to the states soon enough
▼ + stars: | 2023-09-17 | by ( Cork Gaines | ) www.businessinsider.com time to read: +7 min

After five months and 53 shows, the economic impact of Swift's "The Eras Tour" was monumental and non-stop. Consider the following:"Taylor Swift's 'Eras' tour is rewriting the playbook of entertainment economics," Chris Leyden, director of growth marketing at SeatGeek told CNN. "It's no surprise that people are flocking to this Eras Tour experience in what is increasingly an otherwise digital environment we live in." AdvertisementAdvertisementOne Swiftie who spoke with Insider called their "Eras Tour" trip "a little bit concert, a little bit vacation." — Taylor Swift, who is releasing a film version of "The Eras Tour."

Persons: Taylor Swift, Swift, Taylor, Chris Leyden, SeatGeek, She's, —, Omar Vega, Alice Enders, Grace Smith, Andrew Heilmann, Robert Douglas, Cork, Oppenheimer, Klaus Vedfelt Piper, Nancy Lazar, Lazar, Barbie, — Taylor Swift, Charlie Harding Organizations: Service, CNN, Bloomberg News, Enders Analysis, World Trade Organization, MediaNews, Denver, Getty, Moody's, Cork Gaines, Bloomberg, Global, Fox News Digital, WGA Locations: Wall, Silicon, Arlington , Texas, LA, —, Hollywood

☆ Pooran powers West Indies to 2-0 lead over India in T20 series
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

Aug 6 (Reuters) - Nicholas Pooran's 67 off 40 balls helped the West Indies clinch a two-wicket victory over India in the second Twenty20 international in Providence on Sunday to take a 2-0 lead in the five-match series. India, who opted to bat, had Tilak Varma's 51 to thank for taking them past the 150 mark, with captain Hardik Pandya (24) and opener Ishan Kishan (27) also contributing to the total. Three bowlers were instrumental in restricting India to an inadequate 152-7, with Akeal Hosein, Alzarri Joseph and Romario Shepherd taking two wickets apiece. West Indies fumbled early in their innings, but Pooran anchored their chase with a big-hitting knock before being dismissed by Mukesh Kumar. I felt like it was a decent wicket and we are accustomed to get such wickets here.

Persons: Nicholas Pooran's, Tilak, Hardik Pandya, Ishan Kishan, Akeal Hosein, Alzarri Joseph, Romario Shepherd, Pandya, Pooran, Mukesh Kumar, I'm, enders Hosein, Joseph, Aadi Nair, Pritha Sarkar Organizations: West Indies, Thomson Locations: India, Providence, West Indies, Bengaluru

☆ Exclusive: Airbus weighs separate boss for planemaking arm - sources
▼ + stars: | 2023-07-24 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

[1/2] Airbus CEO Guillaume Faury takes part in a panel discussion at the International Air Transport Association's (IATA) Annual General Meeting in Boston, Massachusetts, U.S., October 4, 2021. That mirrors a structure under which the planemaking business technically owns the two smaller divisions, Helicopters and Defence & Space, following an internal merger. Airbus says it is no longer politically driven following an agreement to limit government interference a decade ago. But such a structure would draw inevitable comparisons with the era of former planemaking chief Fabrice Bregier, who left Airbus in 2018 after a power battle with then CEO Tom Enders. INTERNAL BALANCEHaving a visible planemaking leader would more closely echo rival Boeing (BA.N), each of whose divisions has its own boss.

Persons: Guillaume Faury, Brian Snyder, Faury, apppointed, Fabrice Bregier, Tom Enders, Bruno, Alberto Gutierrez, Tim Hepher, Mark Potter Organizations: International Air Transport, REUTERS, Airbus, Helicopters, Defence, Space, Airbus Helicopters, Boeing, Thomson Locations: Boston , Massachusetts, U.S, France, Germany, Spain, Ukraine

☆ Carlos Alcaraz beats Novak Djokovic in 5 sets to win Wimbledon for his second major trophy
▼ + stars: | 2023-07-16 | by ( ) www.cnbc.com time to read: +11 min

The age gap between the two was the widest in any men's Slam final since 1974. Still, this is all relatively new to him: Djokovic's record 35th Grand Slam final was Alcaraz's second. Yet it was Alcaraz who won a 32-pointCarlos Alcaraz said he wanted another shot at Novak Djokovic. The age gap between the two was the widest in any men's Slam final since 1974. He's used these sorts of intermissions to gather himself and shift momentum and, sure enough, he pushed this terrific match to a fifth set.

Persons: Spain's Carlos Alcaraz, Serbia's Novak Djokovic, Glyn KIRK, GLYN KIRK, Carlos Alcaraz, Novak Djokovic, Said, Alcaraz, Djokovic, He's, pointCarlos Alcaraz, Novak, Fergus Murphy, —, That's, Rafael Nadal, Roger Federer, enders, I've, Spain's King Felipe VI Organizations: England Tennis Club, Getty, Wimbledon, All England Club, Court, Australian, Spaniard Locations: Wimbledon, London, AFP, Serbia, Spain

Within weeks, Della Valle gave them a stark assessment of the problems Vodafone faces. Complicating matters is an investor base with conflicting demands, concerns about Vodafone's dividend outlook and a workforce reeling from the deep job cuts. While many observers in and outside the company had expected a fresh face, Della Valle won over the board. Vodafone's shares are trading at lows last seen in 2002, largely due to a cut to free cash flow forecasts. That may not sit well with Vodafone's other key investors - French telecoms billionaire Xavier Niel, who competes with it in Italy, and Liberty Global, its partner in the Netherlands.

☆ 40 years ago, a US Navy aircraft carrier ran aground as thousands of sailors' families watched
▼ + stars: | 2023-04-28 | by ( Miguel Ortiz | We Are The Mighty | ) www.businessinsider.com time to read: +5 min

On April 28, 1983, USS Enterprise arrived in San Francisco after an eight-month deployment. Imagine, then, the frustration felt by sailors and family members alike when a ship ran aground right before it docked. USS Enterprise sails under the Golden Gate Bridge as it returns from a deployment in April 1983. 4,500 sailors and 3,000 family members could now just see each other, but were still far from being reunited. "Our vessel is the Starship Enterprise and this is the USS Enterprise," he later said, "We've got a new drink—Enterprise on the Rocks."

☆ Tech employees should expect more debloating even after 330,000 jobs got wiped
▼ + stars: | 2023-04-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Amazon, Google, Meta, Microsoft, and Twitter have collectively chopped around 70,000 staff — but ongoing concerns about profitability and over-hiring means they could slim down more. Google and Amazon should cut more jobs: analystsAnalysts note that Google, for example, added around 71,000 employees in the past three years. They say Meta has seen "limited impact on its growth" after laying off around 25% of its workforce since November. The bank's analysts say that profitability per employee at Amazon excluding its warehouse workers — a measure of its efficiency — is "significantly below peers." With less cash available, cuts will likely persist and workers in tech should brace for more instability this year.

☆ Apple Pay Later is more about making Apple Pay more convenient than trying to dominate the 'buy now, pay later' arena, analysts say
▼ + stars: | 2023-04-09 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Apple Pay Later could help increase demand for iPhones, one analyst said. Jennifer Bailey, Apple's vice-president of Apple Pay and Apple Wallet, said the move was a response to consumer demand for flexible payment options. Enhancing the Apple ecosystemSelect users are being invited to use a prerelease version of Apple Pay Later, with plans to widen access later this year. Analysts say Apple Pay Later is more about increasing the convenience of Apple Pay and enhancing its ecosystem than an attempt to dominate the BNPL arena. Holubowskyj believes Apple has an opportunity to benefit from Apple Pay Later by increasing uptake of Apple Pay down the line as it expands into other markets.

☆ It's wild that Western governments have decided that TikTok might spy for China. The app hasn't helped itself.
▼ + stars: | 2023-03-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

TikTok denies it feeds user data to China, but the drip-drip of revelations hasn't helped. The suspicion is that TikTok's owner ByteDance is in cahoots with the Chinese Communist Party and shares data about Western users with China. TikTok has maintained the app doesn't spy on individuals, and has pointed to the steps it's taking to hive off user information. FCC commissioner Brendan Carr responded to Bertram asking if "any member of the CCP accessed non-public US or EU user data from inside China." US social-media services normalized the aggressive harvesting of user data, and routinely hand over information to international governments.

☆ Microsoft and Google will duke it out over Silicon Valley's true financial driver: ads
▼ + stars: | 2023-02-09 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Google search dominated, but Microsoft's AI-powered Bing is emerging as a credible challenger. Google has dominated search and the search ad market for the almost 25 years since its inception. The company has around 90% of the search market, according to data firm Stat Counter. Microsoft's share of the search ad market is small: it made nearly $18 billion in ad revenue last year, far smaller than the $224 billion Google made in gross ad revenue last year, the analysts wrote. Declining ads market will spark fiercer competitionThe fight coincides with a slump in ad sales, upping the pressure on Google is the dominant player.

☆ From the digital ad crash to Elon Musk buying Twitter — these were the ad industry's 5 biggest shocks of 2022, and what it means for 2023
▼ + stars: | 2022-12-29 | by ( Ryan Joe | Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

The ad industry is crossing its fingers that Twitter is a safe place to advertise. 2022 was a volatile year for the advertising industry. DeGroote believes the 2023 ad market growth forecasts from major ad buyers like GroupM (5.9% growth), and Magna (5% growth to $822 billion) are too optimistic. Meta, has also seen its ad revenue decline, and has dumped $4 billion so far into building a so-called Metaverse, which hasn't driven any revenue yet. Elon Musk acquires TwitterMusk's acquisition of Twitter — and subsequent decimation of its employee ranks, including its revenue-driving advertising operations — shook the ad industry.

A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said it is not for sale. "A Bloomberg acquisition of the (Post) is not necessarily just a business decision. According to Axios, Bloomberg sees Dow Jones, also the publisher of Barron's and MarketWatch, as the ideal fit but would buy the Post if Bezos was interested in selling. Dow Jones did not immediately respond to Reuters' request for comment. Reuters competes with Dow Jones and Bloomberg News, a unit of Bloomberg L.P., a provider of financial news.

New York Attorney General Letitia James' office sued Trump, his children, and his business. "Trump falsely inflated his net worth by billions of dollars to further enrich himself and cheat the system," James' office said. James on Wednesday accused the Trump Organization of issuing financial statements that were in "clear violation" of accepted accounting principles. Many of the lawsuit's fraud allegations center on 10 years of Trump's statements of financial condition. Mazars walked away from the statements after James' office found that they repeatedly "misstated objective facts."

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