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Elon Musk filed a lawsuit against Sam Altman and OpenAI last week. AdvertisementSam Altman seemed keen to attract Elon Musk's attention by resurfacing an old conversation with the owner of X. Altman wrote "anytime" next to a salute emoji in the conversation thread, in which he had previously praised Musk and Tesla. Be the person on the side of the climate and innovation, not the person hoping to make money on puts," Altman wrote in 2019. OpenAI was founded by Altman, Musk, CTO Greg Brockman, and several other engineers and scientists as a nonprofit, its website said.
Persons: Elon Musk, Sam Altman, OpenAI, Altman, Musk, , Elon, Sam, Greg Brockman, Musk's, Jason Kwon, Axios, Kwon, ChatGPT, OpenAI didn't Organizations: Service, Twitter, Tesla, Elon, Microsoft, Bloomberg, Enterprise
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech giant said the new offering can perform a handful of common role-specific actions in Excel and Outlook. Market unlikely to burstBob Parker, senior advisor at trade body International Capital Markets Association, told CNBC there are signs of a bubble in company valuations and investor concentration in the technology sector. [PRO] Europe's 'Super 7'Citi picked "Super 7" European stocks that it said are similar to the "Magnificent 7" U.S. technology stocks but have cheaper valuations leaving more room for them to rise.
Persons: Bitcoin, Bob Parker, Dell, Yvonne McGill Organizations: CNBC, Nasdaq, Dow Jones, Microsoft, Excel, Capital Markets Association, Dell, Citi
Microsoft on Thursday announced that it will release a Copilot chatbot that can perform key tasks for people working in finance. The software company will first offer the tool in public preview. The Copilot for finance will initially run a variance analysis, reconcile data in Excel and speed up the collections process in Outlook. Additional features will come to the finance Copilot later this year, Lamanna said. The Japanese advertising agency Dentsu will use the Copilot for finance tasks, Lamanna said.
Persons: Charles Lamanna, Lamanna, it's, Cory Hrncirik, Hrncirik Organizations: Microsoft, CNBC, Wednesday, SAP, Microsoft Dynamics Locations: San Francisco
COST 5Y mountain Costco's stock performance over the past five years. DHR 5Y mountain Danaher's stock performance over the past five years. ETN 5Y mountain Eaton Corp.'s stock performance over the past five years. "The megatrends are real serious, and [Eaton] is a real serious company," Jim said. TJX 5Y mountain TJX Companies' stock performance over the past five years.
Persons: Jim Cramer, Jeff Marks, Morgan Stanley, Wall, Beijing's, Jim, Eaton, Linde, Lilly's, Eli Lilly, We've, Zepbound, Mark Zuckerberg's, Mark Zuckerberg, OpenAI, Copilot, management's, Nvidia, TJ Maxx, TikTok, Gen Zers, TJX, Jim Cramer's, Satya Narayana Nadella, Lucas Jackson Organizations: GE Healthcare, Meta, Microsoft, Johnson, Natural Resources, Starbucks, Apple, Apple Music, Services, Amazon, Amazon Web Services, Prime, Costco, Danaher, Eaton Corp, Investors, GE, LIN, Novo Nordisk's Wegovy, Novo Nordisk, Management, Nvidia, TJX Companies, Marshalls, CNBC Locations: Eaton, China, Manhattan, New York City
Salesforce CEO Marc Benioff told CNBC's Jim Cramer on Wednesday that his company's Einstein Copilot product is different from other artificial intelligence programs because of the way it uses customer data to make decisions. "We already have tremendous user interfaces at Salesforce," Benioff said. "Our Sales Cloud, our Service Cloud, our Marketing Cloud, even Tableau, even Slack, these are amazing ways to talk to that data. He elaborated, saying Salesforce is built "on a rich fabric of data and metadata," and it serves companies including Amazon , IHG and Schneider Electric . Salesforce reported earnings Wednesday, and while earnings surpassed Wall Street's expectations, revenue guidance came in weak.
Persons: Marc Benioff, CNBC's Jim Cramer, Einstein, Benioff, Slack Organizations: Amazon, Schneider
Adjusted operating margin expanded to 31.4% in the quarter, missing estimates of 31.55%, according to FactSet. No, but it was an overall solid quarter for Salesforce, with the company beating on most key metrics. In its fiscal 2024, Salesforce repurchased $7.7 billion worth of stock, lowering its diluted share count by about 1 million to 983 million. For the first quarter, Salesforce guided for revenues between $9.12 and $9.17 billion, in line with estimates of $9.15 billion. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Salesforce, We're, it's, Wednesday's, Marc Benioff, we'd, Amy Weaver, Benioff, Einstein, Cash, Salesforce's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Revenue, LSEG, Club, CNBC Locations: Americas, Africa, Asia, Latin America, India, Canada, San Francisco , California
Arvind Jain, co-founder and CEO of Glean, makes a selfie with employees of the startup, which is based in Palo Alto, Calif. Artificial intelligence startup Glean attracted tech companies Databricks and Workday into its latest investment round. Glean, whose software sifts through corporate repositories to provide quick answers to workers' questions, said Tuesday that it's raised $200 million at a $2.2 billion valuation. Glean's annualized revenue at the end of January was $39 million, up from $10 million a year earlier. While Glean initially targeted the tech industry, it's now looking to expand in financial services, retail, manufacturing and other sectors, Jain said.
Persons: Arvind Jain, it's, Kleiner Perkins, Arvind Purushotham, OpenAI, Jain, Glean, Purushotham, Citi hasn't, Cathy Gao Organizations: Wall, Banking, Citigroup, Lightspeed, Sequoia, Citi Ventures, CNBC, Microsoft, Google, Sony Electronics, Citigroup's, Citi, Nvidia, Sapphire Locations: Palo Alto, Calif, LLMs, OpenAI, Glean
Google just can't seem to catch a break
  + stars: | 2024-02-23 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +4 min
The search giant announced a major upgrade to its AI model Gemini. Google under fireGoogle's big problem came after Gemini users started to report problems this week with its image-generation feature. For Google, the moment is one that casts a shadow over real advances it has made in AI to keep it neck-and-neck with competitors. In part, it's because the Gemini image generation blunder really is as bad as people say. Google CEO Sundar Pichai has previously said he feels "very comfortable" about where the company is with its AI mission.
Persons: , Gemma, Gemini, Elon, Musk, Nathan Lambert, OpenAI's, haven't, It's, Sundar Pichai Organizations: Service, Microsoft, Business, Google, Gemini, Allen Institute, AI
There are "major companies and verticals that have not even considered the H100" yet, he added, referring to Nvidia's AI must-have GPU. A few weeks ago, we combed through the latest earnings reports from Google-parent Alphabet, Microsoft, Meta Platforms and Amazon to see how their AI spending plans are benefitting Nvidia. After Wednesday evening's killer quarterly release, Nvidia talked about how it is helping the businesses of fellow Club names Google, Microsoft, Meta and Amazon. Alphabet continues to heavily invest in AI applications to improve the performance of its services including Google DeepMind, Google Services, Gemini, and Google Cloud. "Nvidia DGX Cloud will expand its list of partners to include Amazon's AWS, joining Microsoft Azure, Google Cloud and Oracle Cloud.
Persons: Jim Cramer, Jim, Jensen Huang, Colette Kress, Kress, Mark Zuckerberg, we've, Gemma, Satya Nadella, Copilot, Jim Cramer's, Omar Marques Organizations: Nvidia, Google, Microsoft, Meta, Companies, Nvidia H100s, Google Services, Gemini, Management, Amazon's AWS, Oracle, NVIDIA, Amazon Web Services, CNBC, Getty
One possibility is the coding rounds of the typical tech job interview, where candidates are prompted by interviewers to solve technical problems. So, job candidates can easily use something like ChatGPT to effectively cheat their way to fast solutions, according to a recent experiment conducted by interviewing.io, a popular platform for mock tech interviews and industry recruiting. When coding problems were taken verbatim from LeetCode, job candidates using ChatGPT solved correctly 73% of the time, interviewing.io found. That’s far worse than how tech job candidates fare on their own. Relying on their own abilities, interviewing.io found that job candidates passed coding rounds of interviews 53% of the time.
Persons: interviewing.io, Aline Lerner, ” Lerner, ChatGPT, Lener, Lerner, it’ll, Kali Hays Organizations: Google, Microsoft Locations: ChatGPT, khays@insider.com
For context, Nvidia makes powerful computer chips that power popular AI tools like OpenAI's ChatGPT and Microsoft's Copilot. As of market close on Feb. 21, the tech company's market cap sat at $1.667 trillion, putting it behind Alphabet's $1.779 trillion market cap. Nvidia's stock price has been on an upward trajectory so far this year. Although the company's stock price declined by nearly 3% during Wednesday's trading session, shares have surged by nearly 40% since the beginning of the year. Although short-term demand for Nvidia's AI chips has been strong, major companies such as Microsoft and Meta have indicated interest in buying them from other companies.
Persons: It's Organizations: CNBC, Nvidia, Wall, Microsoft, Apple, Meta
The rise in the index has raised some concerns over valuations, but Morgan Stanley's Andrew Slimmon has a more positive take on the recent market moves. Microsoft In the tech sector, Slimmon named Microsoft as his choice to play the AI boom. This gives it around 16.3% potential upside. The average price target for Ameriprise is $418.03, according to FactSet data, giving it potential upside of around 5.1%. This gives it around 4% upside potential.
Persons: Morgan Stanley's Andrew Slimmon, CNBC's, Slimmon, Ameriprise Slimmon Organizations: Morgan Stanley Investment Management, Microsoft, Ameriprise, Apple, Meta, Nvidia, Tesla, New York Stock Exchange, Euronext, London Stock Exchange Locations: Dublin, Euronext Dublin, U.S
And the rise of generative AI chatbots is giving people new and different ways to look up information. A recent study by German researchers suggests the quality of results from Google, Bing and DuckDuckGo is indeed declining. But they have their own issues: Because the tech is so new, there are concerns about AI chatbots’ accuracy and reliability. If you want to try the AI way, here's a how-to:Photos You Should See View All 33 ImagesWHERE DO I FIND AI SEARCH TOOLS? A slew of startup AI search sites have emerged, but they aren't as easy to find.
Persons: — It's, Bing, Bard, There’s, Andi, Phind, , Taylor Swift, Perplexity, Microsoft's Copilot, , Aston Martin —, AskAI, they’re, HuggingChat, Gemini Organizations: Google, Komo, Gemini, Microsoft Locations: U.S, Britain, Switzerland, Europe, You.com, Canada, London, New York
Following last week's $120-per-share price target hike to $750 on strong earnings, we're raising our PT again Thursday to $850. Even at our new $850 price target, Lilly shares still represent a lower PEG than we've seen historically but that provides some margin of safety. Costco price target hike to $770 from $680 Costco also trades at a premium valuation, but we think it's warranted due to the company's reliability and consistency. Salesforce price target hike to $320 from $275 Salesforce is a Club name we recently highlighted in our 10 undervalued stocks commentary . Palo Alto Networks price target change pending Lastly, we are aware that our price target on Palo Alto Networks requires an update as well.
Persons: It's, Eli Lilly, Lilly, Salesforce, , There's, Jim Cramer's, Jim Cramer, Jim, Robert Nickelsberg Organizations: Wall, PT, Novo Nordisk, Costco, Microsoft, Broadcom, UBS, VMware, JPMorgan, Palo Alto, Palo Alto Networks, Palo, CNBC, Getty Locations: GLP, AVGO, Palo Alto, Palo, New York City
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today’s big story, we’re looking at Google’s new internal AI model aimed at improving worker efficiency. The big storyAI assistanceCBS Photo Archive/Getty ImagesGoogle employees are getting an AI-powered wingman in the company’s bid to improve efficiency. Goose can answer questions about Google's tech and write and edit code, according to an internal summary of the model. Tech companies have tested inventions on their own employees for years in a process known as "dogfooding," writes BI's Alistair Barr.
Persons: , Denny's, customizations, Hugh Langley, Tom Cruise’s copilot, Alistair Barr, Tyler Lee, , Bryan R, Smith, Wall, Gary Gensler, We’re, Société, Elad Gil, Gil, ChatGPT, it’s, Uber, Nomura, Young homebuyers, Meredith Whitney, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, CBS, Getty, Microsoft, OpenAI, Tech, Google, Big Tech, Fed, UBS, SEC, Silicon Valley’s, BI, Xbox, Dragon, Workers, Wall Locations: China, New York, London
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCurrently, Apple is urging some engineers to test these new AI features to ensure they work before releasing them externally to developers. Apple's covert plans to launch its AI coding tool soon comes as the company lags behind generative AI efforts currently led by players like OpenAI, Google, and Microsoft. The tech giant, Bloomberg has learned, has plans to integrate AI features into its next software updates for its iPhone and iPad known internally as Crystal. The company is also building features that will generate Apple Music playlists and slideshows, according to the outlet.
Persons: , GitHub, Apple didn't, Tim Cook, We've, Cook, would've Organizations: Service, Bloomberg, Business, Apple, Google, Microsoft
The Satori Fund's Dan Niles is offering up his strategy for playing the Magnificent 7 stocks. The founder and senior portfolio manager told CNBC's " Squawk on the Street " on Wednesday that he's currently long Meta Platforms , Amazon , Nvidia and Microsoft and short Apple, Tesla and Alphabet . "We all know that earnings, short term, doesn't drive stocks," he said of his investing strategy. Nvidia and Meta Platforms have led the pack, jumping about 48% and 33%, respectively, while Apple and Tesla have slumped about 5% and 25%. Among his reasons for favoring Meta Platforms, the hedge fund manager highlighted the company's price-to-earnings ratio, which is only slightly above that of the S & P 500, and strong advertising numbers.
Persons: Dan Niles, CNBC's, he's, Tesla, Niles, Apple's, it's Organizations: Nvidia, Microsoft, Apple, Nasdaq, Meta Locations: Copilot, OpenAI
Big Tech companies are testing AI tools internally in a massive 'dogfooding' experiment. This involves Big Tech companies taking large language models and generative AI tools and putting them to work inside their own organizations. The findings could also change how Big Tech companies operate — and how many expensive engineers they need. Big Tech companies want to sell AI tools to help businesses, developers, advertisers, creators, and other customers reach this new productivity nirvana. If these dogfooding tests go well, Big Tech companies may not need to hire as many workers in the future.
Persons: , It's, Googler Anthony Vallone, Ruth Porat, Hugh Langley, it's, BI's Ashley Stewart, Stewart, there's, Urs Hölzle Organizations: Big Tech, Google, Microsoft, Service, Microsoft Microsoft Locations: Silicon
It is designed to assist with building new products, according to internal documents reviewed by Business Insider. “It can answer questions around Google-specific technologies, write code using internal tech stacks and supports novel capabilities such as editing code based on natural language prompts,” an internal summary of Goose reads. The documents note that the creation of Goose was a collaborative effort between Google Brain, DeepMind, and Google's internal infrastructure teams. And Goose isn't the only example of Google using AI to be more efficient. AdvertisementAnd if Googlers have specific development questions while using Goose, they're encouraged to turn to the company's internal chatbot, named Duckie.
Persons: , it’s, Gemini, , Ruth Porat, Goose, TKTKTK Goose, DeepMind, , Philipp Schindler, Business Insider’s, they're Organizations: Service, Business, Google, Microsoft
Nvidia surpassed Amazon in market capitalization on Tuesday. Nvidia closed at $721.28 per share, giving it a market value of $1.78 trillion to Amazon's $1.75 trillion market cap. While Nvidia also briefly passed Amazon on Monday, this is the first since 2002 that Nvidia is worth more after the market close. But Nvidia shares are up over 246% in the last 12 months on robust demand for its server AI chips that can cost more than $20,000 each. Amazon shares are up about 78% in the past 12 months.
Persons: Jensen Huang, It's, OpenAI Organizations: Nvidia, Amazon, Microsoft, Apple, CNBC PRO Locations: U.S
Some early adopters of Microsoft's AI assistant, Copilot, are less than impressed, the Wall Street Journal reports. The first users balked at the hefty costs and said the AI would hallucinate wrong answers. AdvertisementMicrosoft is making a big bet on AI with its newly launched generative AI assistant Copilot, but some early adopters have been less than impressed. Others said the AI hallucinated wrong answers or calculated spreadsheets wrong, according to the outlet. And earlier this month, the techgiant rolled out Copilot internally, Business Insider's Ashley Stewart reported at the time.
Persons: , Copilot, Copilot —, It's, wasn't, Jared Spataro, Spataro, Insider's Ashley Stewart, Satya Nadella Organizations: Wall Street, Microsoft, Service, Excel, Chemicals, Dow, Lenovo, Super Locations: Copilot, OpenAI
Many AI companies struggle with customers understanding how the product won't take away their ability to think for themselves. A few took the opportunity of the Super Bowl to change the narrative. There many winners and losers among the messages attempted by brands in the big Super Bowl advertising bets. In Microsoft's Super Bowl ad, a group of people overcome challenges ranging from opening their own business to getting a college degree. There's no bigger stage to get your humanizing message across than the Super Bowl, Microsoft's Kumar said.
Persons: GPT, Deacon Webster, Webster, It's, it's, Divya Kumar, Etsy, Crowdstrike, cyberattacks, Gaurav Misra, Misra, Microsoft's Kumar, David Jones, Jones Organizations: Research, Sunday, Microsoft, Google, New York Times, Super, Brandtech, America Locations: France
Gemini Advanced is the newest generative AI system to hit the market as part of Google's new AI Premium package, which is available for $19.99 a month. Gemini Advanced is built off the back of Google's Bard chatbot, which was launched last year and is free to use. Gemini Advanced is available in 40 languages online, and will also have mobile functionality via the Google app on iOS. Google's efforts come in the wake of the generative AI craze pioneered by ChatGPT, developed by OpenAI. And Grok, developed by Elon Musk's xAI, is available to premium subscribers on X, formerly Twitter, for $16 per month.
Persons: , Google's Bard chatbot, Bard, Sissie Hsiao, BI's Hugh Langley, OpenAI, Rufus, Elon Musk's, Google's Bard Organizations: Service, Google, Business, Gmail, ChatGPT, OpenAI, Microsoft, Wall Street Locations: Google's
SAN DIEGO (AP) — The military said search-and-rescue efforts were continuing for five U.S. Marines after their helicopter went down during stormy weather in the Southern California mountains. Here’s what we know so far:WHAT HAPPENEDA CH-53E Super Stallion helicopter was returning from a training mission in Nevada when it disappeared Tuesday night. About 99 feet (30 meters) long, the Super Stallion can move troops and equipment from ships to shore, ferry supplies and launch amphibious assaults. Nicknamed the “hurricane maker” because of the downwash from its three engines, the Super Stallion has a 50-mile (80.5-kilometer) range. In 2005, a Super Stallion went down in a sandstorm in Iraq, killing 31 people on board.
Persons: Mike Cornette, Joe Biden, Karine Jean, Pierre, , John Kirby, San Diego County’s, ___ Baldor, John Antczak Organizations: DIEGO, U.S, Marines, Stallion, Civilian, Creech Air Force Base, Marine Corps Air Station Miramar, California Department of Forestry, Fire Protection, CBS, Cal Fire, WHO, Heavy Helicopter Squadron, Marine Aircraft, 3rd Marine Aircraft Wing, Super Stallion, U.S . Navy, White, National Security, U.S . Forest Service, . Border Patrol, San Diego County Sheriff’s Department, Civil Air Patrol, San Diego, Cleveland National Forest, Super, U.S ., Marine Corps, Associated Press Locations: Southern California, Nevada, Pine Valley, San Diego, Las Vegas, California, New York City, San Diego County, Pine, San, Cleveland, Beirut, Somalia, Persian Gulf, Afghanistan, Iraq, Libya, Mogadishu, Miramar, El Centro, Mexico, Washington, Los Angeles
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ESPN, Warner Bros., and Fox announced plans this week for a new sports streaming service set to launch this fall . That could put an end to cable TV as we know it , Nathan McAlone, Business Insider's deputy media editor, writes. Ashley Rodriguez, BI's media editor, has a breakdown of the six biggest questions about this new sports streamer . Games on YouTubeTV, for example, are noticeably delayed compared to cable TV broadcasts .
Persons: , Katie Notopoulos, David Jensen, Nathan McAlone, it's, Ashley Rodriguez, Peter Kafka, BI's, Peter, Nathan, Ashley —, We've, Ashley, Fox, Rick Wilking, Reuters Leon Cooperman, Marc Rubinstein, Yi Huiman, Xi Jinping, Jordan Hart, It's, Justin Metz, Blackstone, Bob Iger, Donald Trump, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ESPN, Warner Bros, Fox, ESPN2, ABC, FOX, Peter : Media, Nathan, Warner Bros ., NFL, Cable, Comcast, Paramount, Reuters, Signature Bank, New York Community Bancorp, Securities, Commission, that's, Apple Vision, Microsoft, BI, of Foreign Labor, Apollo, KKR, Bain Capital, Disney, Epic Games, ConocoPhillips, US Locations: New, China, Beijing, New York, London
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