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☆ Nvidia passes Microsoft in market cap to become most valuable public company
▼ + stars: | 2024-06-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia , long known in the niche gaming community for its graphics chips, is now the most valuable public company in the world. Shares of the chipmaker climbed 3.2% in mid-day trading on Tuesday, lifting the company's market cap to $3.33 trillion, surpassing Microsoft . Earlier this month, Nvidia hit a $3 trillion market cap for the first time, and passed Apple . Founded in 1991, Nvidia spent its first few decades primarily as a hardware company that sold chips for gamers to run 3D titles. Nvidia is a newcomer to the title of most valuable U.S. company.

Persons: It's, Jensen Organizations: Nvidia, Microsoft, Apple, Forbes, Windows, Dow Jones, Dow Locations: OpenAI, U.S

☆ Hollywood is facing a dire threat: sports
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

Persons: —, Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE

☆ China could soon have to choose between fueling the Ukraine war and its access to Europe's economy
▼ + stars: | 2024-06-18 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewNATO Secretary General Jens Stoltenberg this week warned China it faces a stark choice if it continues backing Russia's Ukraine invasion. "But the reality is that China's fueling the largest armed conflict in Europe since World War II. In response, China has said it is not a party to the Ukraine war and that there should be no interference with trade between China and Russia. AdvertisementChina-Europe tensions increaseIt's not just China's support for Russia that appears to be focusing European minds on the potential threat it poses. Both have taken a critical stance towards Ukraine and appear keen to do more business with China, in defiance of EU policy.

Persons: —, Jens Stoltenberg, Xi, Stoltenberg, Emanuel Macron Organizations: Service, Publicly, Business, West, European Commission, US, European Union, Financial Locations: China, Ukraine, Europe, Beijing, Russia, Germany, Hungary, Serbia

☆ Sending our kids to summer camp was more expensive than a family trip to Europe. We enjoyed it so much we ended up moving to Portugal.
▼ + stars: | 2024-06-17 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. My husband, Olly, and I calculated that we'd spend at least $12,000 sending them for 10 weeks. It wasn't as if they would be at camp all day — 9 a.m. to 3 p.m. instead. Our kids integrated into the Portuguese cultureThen, in 2022, Olly's boss moved with his family to Spain full-time. AdvertisementI don't want to return to New York CityI don't worry about healthcare bills any longer.

Persons: —, Patrice Poltzer, Olly, Poltzer, I'd, We'd, It's Organizations: Service, Business Locations: Brooklyn, Olly's, England, London, Europe, Croatia, Zagreb, France, Spain, Portugal, New York City, Patrice Poltzer Portugal, New York, Mexico City, Lisbon, I'd, Chicago

☆ Your next iPhone could be thinner as Apple reportedly aims to slim down its product range
▼ + stars: | 2024-06-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The iPhone 15 Pro is 0.32 inches (8.25 mm) deep, compared with 0.29 inches (7.4 mm) for the iPhone 12 Pro, per Apple's website. Apple announced at the Worldwide Developers Conference it would integrate its new AI software, Apple Intelligence, into the iPhone, iPad, and Mac. The AI features will roll out later this year with Apple's iOS 18 update, but will only be available to iPhone 15 Pro and 15 Pro Max users. Android chief Sameer Samat previously told Business Insider that it plans to seize the moment to "reinvent" what phones can do. AdvertisementApple didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, Apple, Mark Gurman, Gurman, Mac, It's, Sameer Samat Organizations: Service, Business, Apple, Worldwide, Apple Intelligence, Pro Max, Google, Samsung, Android, Bank Of America Securities

☆ Ernest Shackleton’s Quest shipwreck has finally been found
▼ + stars: | 2024-06-15 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Editor’s note: A version of this story appeared in CNN’s Wonder Theory science newsletter. Polar explorer Sir Ernest Shackleton and his crew of 27 men set off aboard the HMS Endurance in 1914. A search expedition found the HMS Endurance wreck in 2022, and now, another part of Shackleton’s legacy has been recovered. Central Press/Hulton Archive/Getty ImagesAn international team of experts using sonar has located the exploration ship Quest, once captained by Shackleton, off the coast of Canada. — A botanist spotted a tiny plant species new to science growing in an unlikely place on the slopes of the Andes.

Persons: Sir Ernest Shackleton, Shackleton, Freeman Dyson, Dyson, George Wittemyer, ”, Mickey Pardo, ritualistically, Chichén Itzá, “, Adomas Valantinas, Ashley Strickland, Katie Hunt Organizations: CNN, HMS, Quest, Central Press, Hulton, Cornell University, Olympus, ESA, Brown University, NASA, CNN Space, Science Locations: Antarctica, South Georgia, Canada, Kenya, Chichén, Yucatán, Everest, England, Australia

I believe it is profoundly wrong, in difficult times like these, to campaign using a precious forum like the G7,” Meloni told reporters Thursday. Italian Prime Minister Giorgia Meloni welcomes US President Joe Biden to the G7 summit, June 13, 2024. The 2023 G7 communique, released after the last summit in Hiroshima, Japan, called for “access to safe and legal abortion and post abortion care.” Previous summits’ communiques had stopped short of using the word “abortion,” calling instead for access to sexual and reproductive health services. The spat between Meloni and Macron comes after France in March became the world’s first country to enshrine abortion rights in its constitution, the culmination of an effort which began in direct response to the US Supreme Court’s decision to roll back abortion rights in America. The same sensibility is not shared in your country today,” Macron told an Italian journalist at the summit.

Persons: Emmanuel Macron, Georgia Meloni, Macron, ” Meloni, “, ” Italy’s, ”, Giorgia Meloni, Joe Biden, Luca Bruno, communiques, Biden, Meloni, Roe, Wade, Donald Trump, Francesco Lollobrigida, Meloni’s, Pope, ” Macron Organizations: CNN, Seven, “, AP, United, Ukraine Locations: Italy, Italian, France, “ France, Puglia, Ukraine, Hiroshima, Japan, America

☆ The complicated partnership between Apple and OpenAI
▼ + stars: | 2024-06-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year. “I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account. So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI. “When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said.

Persons: Sam Altman, Steve Wozniak, OpenAI, Altman, Tim Cook, ”, Ben Wood, “ Apple, Siri, Apple, ” Wood, Jeff Chiu, It’s, ” Cook, it’ll, Wood, Reece Hayden, Elon Musk, Musk, ” Musk, Annette Zimmermann, ” Andrew Cornwall, Forrester, “ Organizations: CNN, Apple, Insight, Apple Intelligence, Nvidia, Microsoft, ChatGPT, ABI Research, Industry, OpenAI, SpaceX, Gartner Locations: China, Washington, Cupertino , Calif

☆ Pacific Indigenous leaders have a new plan to protect whales. Treat them as people
▼ + stars: | 2024-06-14 | by ( Jared Formanek | ) edition.cnn.com time to read: +13 min

Along with the Māori of New Zealand and groups from the Cook Islands, Indigenous leaders from Tahiti, Tonga, Hawaii, and Easter Island signed the He Whakaputanga Moana treaty. In the coming months, she plans to engage with various countries throughout the Pacific to discuss whale personhood legislation. The Cook Islands office said it had “yet to receive a formal submission” from indigenous leaders on the declaration’s implementation. Māori King Tūheitia Pōtatau and Tou Travel Ariki, Cook Islands President of the House of Ariki, at the signing of the He Whakaputanga Moana declaration in Rarotonga, Cook Islands. This came after a global ban on commercial whaling was instituted by the International Whaling Commission in 1986.

Persons: Mere, “, Tūheitia Pōtatau, Josh Baker, ” March’s, ”, Takoko, Britain’s King Charles III, Moana, Māori, Michelle Bender, ” Bender, Carlos Duarte, Ralph Chami, Chami, Miguel Medina, ” Chami, Duarte, Emily Charry Tissier, Charry Tissier, ” Duarte Organizations: Hong Kong CNN, Easter, Conservation, Fund, Nature, Conservation International Aotearoa, Ocean Initiative, New Zealand, Nations, New, Commonwealth, CNN, RNZ, New Zealand’s Ministry of Foreign Affairs, Trade, ’ Office, International Whaling Commission, Ocean, King Abdullah University of Science, Technology, Bahia, Natural, Getty, “, International Monetary Fund, Initiative, United Nations Locations: Hong Kong, Rangitukia, New Zealand’s, Cook, New Zealand, Cook Islands, Tahiti, Tonga, Hawaii, Moana, Rarotonga, Atlantic, New, Te Whānau, Pacific, Samoa, Whanganui, “, Zealand, , New Zealand, Wellington, Seattle, Japan, Washington ,, Bahia Malaga, Colombia, AFP

☆ Google search head says 'we won't always find' mistakes with AI products and have to take risks rolling them out
▼ + stars: | 2024-06-13 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

"I don't think we should take away from this that we shouldn't take risks," Reid said. When we find new problems, we should do the extensive testing but we won't always find everything and that just means that we respond." Reid's comments come at a critical moment for Google, which is scrambling to keep pace with OpenAI and Microsoft in generative AI. "You may have seen stories about putting glue on pizza, eating rocks," Reid told employees at the all-hands meeting. Reid was introduced on stage by Prabhakar Raghavan, who runs Google 's knowledge and information organization.

Persons: Liz Reid, Reid, OpenAI, Sundar Pichai, Barack Obama, America's, Prabhakar Raghavan, we've, we're Organizations: CNBC, Google, Microsoft

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ From prison to the trenches: Inside Ukraine’s attempt to turn inmates into soldiers
▼ + stars: | 2024-06-13 | by ( Daria Tarasova-Markina | ) edition.cnn.com time to read: +11 min

Central Ukraine CNN —Battalion commander Dmytro Kukharchuk speaks quietly but firmly. Dmytro told CNN he knew he wanted to fight from the moment the war started. But since I couldn’t, I will now protect other families who want to live and have children,” he told CNN. Dmytro told CNN that he grew up as an orphan and started stealing when he was young. Of the 17 inmates who wanted to join on the day CNN visited the prison, the 3rd Separate Assault Brigade recruited 12.

Persons: Dmytro Kukharchuk, –, Kukharchuk doesn’t, attentively, ”, Daria Tarasova, Kukharchuk, “, I’m, Wagner, Denys Maliuska, Maliuska, Dmytro, CNN ‘ Organizations: Central, Central Ukraine CNN —, Ukraine, Separate Assault Brigade, CNN, Russia, Ministry of Justice, Ukraine’s, Ministry, 110th Mechanized Brigade, Ministry of Defense, Armed Forces of Locations: Central Ukraine, Bakhmut, Ukraine, Russia’s, Avdiivka, Ukrainian, Kyiv, Russia, Armed Forces of Ukraine, Russian, Izium, Kukharchuk

☆ Samsung unveils plan to speed up delivery of AI chips
▼ + stars: | 2024-06-12 | by ( ) edition.cnn.com time to read: +2 min

Samsung expects global chip industry revenue to grow to $778 billion by 2028, boosted by AI chips, Choi said. Samsung is one of the few companies that sells memory chips, offers foundry services and designs chips under the same roof. GAA is seen as important to keep making more powerful chips for AI as chips become finer to the point of pushing the boundaries of physics. Although competitors such as global foundry No 1 TSMC are also working on chips using GAA, Samsung started applying GAA earlier, and said it plans to mass produce its second-generation 3-nanometer chips using GAA in the second half of this year. Samsung also announced its latest 2-nanometer chipmaking process for high-performance computing chips, which places power rails on the backside of the wafer to improve power delivery.

Persons: “, ”, Siyoung Choi, Choi, Marco Chisari, Sam Altman’s, Altman Organizations: San Jose Reuters, Samsung Electronics, Samsung, Foundry Sales, chipmaker, Reuters, South Locations: Seoul, San Jose, San Jose , California

☆ Apple will let users opt out of ChatGPT integration. It's a 'brilliant' move to calm mounting AI privacy concerns, analyst says
▼ + stars: | 2024-06-12 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

At the Worldwide Developers Conference on Monday, the company introduced Apple Intelligence, an in-house suite of AI services coming to devices this fall. Starting later this year, Apple users will have free access to OpenAI's ChatGPT model without having to create an account. Advertisement"I think it's brilliant," said Maribel Lopez, an AI analyst and founder of research and strategy consulting firm Lopez Research. AdvertisementThe opt-out ability on Apple devices offers customers a modicum of control amid the coming freight train of AI, Lopez added. Meanwhile, much of the marketing for Apple Intelligence already appears to be focused on safety and privacy protection, with advertisements boasting a "brand-new standard for privacy in AI."

Persons: —, OpenAI, Siri, Apple, Maribel Lopez, Lopez, Sam Altman doesn't Organizations: Service, Worldwide, Apple Intelligence, OpenAI, Business, Apple, Lopez Research, New York Times

☆ Davidson upgrades Apple, says iPhone maker will be first to get people to really use AI
▼ + stars: | 2024-06-11 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Davidson thinks the artificial intelligence plans Apple unveiled on Monday will lead to a new era for the iPhone and open up possibilities for the tech company as it asserts itself in the AI race. Analyst Gil Luria upgraded Apple to buy and raised his price target to $230 per share from $200, which suggests a roughly 19% upside from Monday's $193.12 close. Luria's upgrade comes on the heels of Apple's announcement of its long-awaited generative AI initiatives , which it calls "Apple Intelligence," at its Worldwide Developers Conference, or WWDC, on Monday. That could lead to a much-needed iPhone upgrade cycle, Luria said, raising his fiscal year 2025 estimates above consensus on the expectation of an AI-driven boost for the smartphone maker. "Importantly, Apple is uniquely positioned to offer these capabilities, and may be the only one capable of doing so any time soon," Luria added.

Persons: D.A, Davidson, Gil Luria, Max, Luria, Apple, Siri Organizations: Apple, Apple Intelligence, Worldwide Developers Conference, Napster

☆ Apple wants to put a friendlier spin on artificial intelligence, but many users could miss out
▼ + stars: | 2024-06-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at all the takeaways from Apple's big event , including its friendlier spin on artificial intelligence . Related VideoBut first, it's not AI; it's Apple Intelligence. Apple Intelligence — it's AI, just not that AI — is the company's first big swing in the space. Data is the name of the game when it comes to AI, and Apple's iPhones are full of it. However, the Apple Intelligence news and partnership with OpenAI is what really set the billionaire off.

Persons: —, we've, it's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook, Apple, Apple's, Insider's Jordan Hart, Katie Notopoulos, Pro Max, BI's Peter Kafka, Max —, wasn't, Elon Musk, Chelsea Jia Feng, Grzegorz Wajda, Elon, Bernstein, Toni Sacconaghi, Point72, Steve Cohen's, WallStreetBets, Tyler Le, OpenAI, Sarah Friar, Kevin Weil, who's, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Business, Tech, Apple Intelligence, Washington, Getty, Apple, Pro, Elon, OpenAI, Academy Investment, GameStop, Planet Labs, Oracle Locations: Apple's, Chelsea, Silicon, New York, London

☆ Let's be real, Apple couldn't hype its ChatGPT collab — that would mean conceding it's lost the AI race
▼ + stars: | 2024-06-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewTech watchers expecting a sweeping partnership announcement between Apple and OpenAI were probably disappointed on Monday. The Cupertino-based giant unveiled its generative AI strategy, "Apple Intelligence," during its keynote presentation at this year's Worldwide Developers Conference. very happy to be partnering with apple to integrate chatgpt into their devices later this year! AdvertisementAside from poaching talent and working with external partners like OpenAI, Apple has also worked with TSMC to make AI chips for its data centers. Making chips would go a long way toward securing Apple's AI supremacy since, unlike most companies, it would not have to rely completely on chip giant Nvidia.

Persons: —, Mark Gurman, OpenAI, Apple, Craig Federighi, Federighi, Sam Altman didn't, Altman, — Sam Altman, Siri, John Giannandrea, TSMC, Gene Munster, Apple didn't Organizations: Service, Apple, Apple Intelligence, Business, Microsoft, Meta, Nvidia, Financial Times, BI Locations: Cupertino

☆ Wall Street expects Apple's AI updates to power a strong upgrade cycle
▼ + stars: | 2024-06-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Davidson's Gil Luria to upgrade shares to a buy. Apple shares have lagged major technology peers this year due in part to its failure to share a clear-cut AI plan. Goldman Sachs analyst Michael Ng was "encouraged by the financial implications" of the announcements, noting that new product features should help fuel an iPhone upgrade cycle . Lingering skepticism To be sure, other analysts worry that Apple's AI prospects may not be enough to power significant upgrades. "Contrary to consensus, we maintain the view that Apple's AI strategy will not lead to a significant iPhone upgrade cycle this fall."

Persons: Tim Cook, Siri, D.A, Davidson's Gil Luria, Luria, Goldman Sachs, Michael Ng, Morgan Stanley's Erik Woodring, Woodring, Toni Sacconaghi, Atif Malik, OpenAI, Evercore ISI's Amit Daryanani, Apple's, David Vogt, Tim Long, Long Organizations: Apple, Worldwide, Apple Intelligence, Napster, Citigroup, UBS, Barclays

☆ Jim Cramer reasserts his bullish stance on Apple, says it doesn't need to chase enterprise customers
▼ + stars: | 2024-06-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday explained that Apple does not need to chase enterprise customers to see gains, saying it does well to target individual consumers. Apple shares pulled back 1.9%on Monday after the company unveiled new artificial intelligence offerings at its developers conference. The stock has suffered this year as investors worried about iPhone sales in China and the tech giant's progress on the AI front. "They're not chasing the enterprise, and these Apple haters have no idea how to evaluate a tech company that's like that." Users will likely need to upgrade their phones to take full advantage of Apple Intelligence, which could help drive sales.

Persons: CNBC's Jim Cramer, Tim Cook, what's, They're, Cramer, Apple Organizations: Apple, Apple Intelligence Locations: China

☆ Elon Musk threatens to ban iPhones at his companies if Apple integrates ChatGPT
▼ + stars: | 2024-06-11 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Elon Musk is not happy about a new partnership between Apple and ChatGPT creator OpenAI. “Apple has no clue what’s actually going on once they hand your data over to OpenAI,” Musk said in a separate post. OpenAI’s technology will support some of these new tools — for example, allowing users to direct questions to ChatGPT via their Apple devices. Greg Brockman, OpenAI president, said late Monday that ChatGPT would be integrated into Apple’s operating systems for iPhones, iPads and Mac computers. So Musk’s employees may have limited options if he wants to ban rival AI — or even OpenAI — from his companies.

Persons: London CNN — Elon Musk, OpenAI, ” Musk, Apple, Musk’s, Siri, Greg Brockman, We’re, Will, Sam Altman, ”, Catherine Flick, ” OpenAI, ” Matt Britzman, Hargreaves Lansdown Organizations: London CNN, Apple, SpaceX, Bluetooth, ” CNN, OpenAI, Developers, Apple Intelligence, Google, Samsung, Microsoft, Windows, Staffordshire University Locations: OpenAI, ”, England

☆ A top US Army general says it's not the right time to build a new drone branch
▼ + stars: | 2024-06-10 | by ( Ella Sherman | ) www.businessinsider.com time to read: +3 min

Read previewUS Army Gen. James Rainey, who serves as the commanding general of Army Futures Command, said it's too soon for the service to establish a new drone branch, reiterating a point made by other Army leaders. These systems have been used for strikes, reconnaissance, targeting, and more on a scale previously unseen, and Ukraine established a drone branch earlier this year. That said, top Army officials don't feel a drone branch is needed right now. AdvertisementArmy Undersecretary Gabe Camarillo previously pushed back on the proposal to establish a drone corps. "I don't think it would be helpful to have a separate drone branch," he said.

Persons: —, James Rainey, it's, Rainey, Thomas Karako, Rob Wittman, Virginia, Gabe Camarillo, we're, Randy George Organizations: Service, Army Futures Command, Center for Strategic, International Studies, Business, Army, Aerial, House Armed Services Committee, CSIS Locations: Ukraine, Europe

☆ Here's what to expect from Apple's AI event and how to trade it
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The pressure is heating up on Apple to flaunt its AI potential at its annual Worldwide Developers Conference Monday. Shares of Apple have lagged major technology peers since the start of the year, rising just 1.5%. While the Apple event isn't typically regarded as a big market-moving stock catalyst, the highly anticipated announcement of new generative AI-enabled features changes the narrative this year, Woodring said. He added that shares tend to underperform the S & P 500 by 10 basis points on average on the day of the event. The analyst retained a $225 price target on Apple shares, implying 14% upside from Friday's close.

Persons: Morgan Stanley's Erik Woodring, Woodring, Siri, Tim Cook, Samik Chatterjee, Atif Malik, AAPL, Toni Sacconaghi Organizations: Apple, Developers, Nvidia, Microsoft, Mac, Citigroup, Google, Samsung

☆ Cramer explains why Apple's conference made him more bullish on the stock
▼ + stars: | 2024-06-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer reviewed Apple 's Worldwide Developers Conference on Monday, explaining why the tech giant's announcements made him more excited about the stock, which has long been a favorite of his. Apple unveiled its highly-anticipated foray into artificial intelligence, which it's calling Apple Intelligence. For example, Apple Intelligence can generate photos based on a user's photo library, perform new tasks and use context to determine which notifications are most important. Cramer was impressed by all of these programs, saying the new technology is a huge development in AI use beyond enterprise. "For me, this Apple conference marked the beginning of generative AI for personal use, not corporate use," Cramer said.

Persons: CNBC's Jim Cramer, That's, Apple's, Software Engineering Craig Federighi, Siri, ChatGPT, Cramer, Apple Organizations: Apple, Apple Intelligence, Software Engineering

☆ Apple is making email more bearable
▼ + stars: | 2024-06-10 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

Read previewManaging your email app — and even just searching for an email you know is in there somewhere — can be unbearable. Here's what you need to know about the latest email updates Apple is rolling out. Writing tools integrated into MailThanks to Apple's new generative AI system, Apple Intelligence, some smart AI-powered writing tools will be integrated across Apple apps, including the Mail app. With Apple Intelligence, you'll be able to pull up a sidebar from the Mail app that will help you rewrite an email draft. AdvertisementThe Mail app pop-up will help you rewrite your email.

Persons: —, Ronak Shah, Shah, You'll, Ronak, you'll, Smart, Siri, — Siri, Kelsey Peterson, Kelsey Organizations: Service, Apple, Business, Gmail, United Airlines, Apple Intelligence, Mail

☆ A crypto trading platform that recruited users through prayer circles was a pyramid scheme that made $1 billion for its 'Reverand CEO,' lawsuit says
▼ + stars: | 2024-06-09 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Now, the New York attorney general says NovaTechFx is just a front for a $1 billion pyramid scheme. The lawsuit also names as a defendant AWS Mining Pty, a crypto mining platform previously run by the Petions. The lawsuit accuses the couple of targeting Haitian immigrants in New York City to recruit them into the pyramid scheme using local prayer circles. After founding NovaTechFx in 2019, Cynthia Petion rebranded herself as the "Reverend CEO," claiming that her company was "God's vision," the lawsuit says. The Petions also operated the NovaTechFx website, which the lawsuit says is where investors would go to invest in cryptocurrency through the company, according to court documents.

Persons: —, NovaTechFx, Leticia James, Eddy Petion, Cynthia Petion, mindlessly, James, Renold Julien, Konbit Organizations: Service, New, New York, New York Supreme, AWS Mining, Business, Yorkers, Mining Locations: New York, New York City, cryptocurrency, Haitian, United States

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