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☆ Cathie Wood says she wouldn't have sold Nvidia stake 'had we known that the market was going to reward it'
▼ + stars: | 2024-07-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Ark Invest's Cathie Wood says she wouldn't have sold her Nvidia stock if she knew it was going up. She previously called Nvidia a "check the box stock" with too much "hyperactivity." Nvidia's stock has gained 172% this year, and it briefly became the most valuable company in June. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHindsight is 20/20 for Ark Invest's Cathie Wood, whose fund missed out on the Nvidia stock rally when it sold its position too early.

Persons: Wood, — Organizations: Nvidia, Service Locations: ARKK

☆ Trump told his former White House doctor he would have been shot 'right in the head' if he hadn't turned to look at an immigration statistics chart
▼ + stars: | 2024-07-15 | by ( Kwan Wei Kevin Tan | Tom Porter | ) www.businessinsider.com time to read: +1 min

Trying to get a better look at an immigration statistics chart might have saved Donald Trump's life. Trump told an ally that if he hadn't tilted his head, he might have been shot, per The New York Times. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer President Donald Trump might have lost his life on Saturday if he hadn't tilted his head to look at an immigration statistics chart.

Persons: Donald Trump's, Trump, —, Donald Trump Organizations: New York Times, Service, Secret Service, Business Locations: Pennsylvania

☆ Sam Altman says, post-Trump assassination attempt, that he's 'thinking a lot about what a difference an inch can make to history'
▼ + stars: | 2024-07-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

OpenAI CEO Sam Altman made a call for unity following the failed assassination of Donald Trump. The tech billionaire said the nation needs to "turn down the rhetoric and find slightly more unity." "I am happy to see most Democrats having the grace to step up and lead on this point," Altman said. AdvertisementThe failed assassination attempt on former President Donald Trump has left OpenAI CEO Sam Altman with a lot to think about. "Thinking a lot about what a difference an inch can make to history," Altman wrote in an X post on Sunday.

Persons: Sam Altman, Donald Trump, Altman, — Organizations: Service

☆ Saudi Arabia Extends Its Embrace of the World of Video Games
▼ + stars: | 2024-07-12 | by ( Eli Tan | Katarina Premfors | ) www.nytimes.com time to read: 1 min

The fans flooded through the streets of Riyadh, Saudi Arabia, by the thousands, kept cool by mist machines in the 110-degree heat. A 30-foot-tall replica gold trophy towered over onlookers at the city’s center. For a moment, covered in beams of brightly colored light, a country defined by tradition looked futuristic. It was the inaugural Esports World Cup, a coming-out party for Saudi Arabia’s growing video game industry. As part of its plan to diversify its economy from oil, the Saudi government has said it will invest $38 billion in video games by 2030 through its Public Investment Fund, known as the P.I.F., a wealth fund that manages $700 billion.

Organizations: Public Investment Fund Locations: Riyadh, Saudi Arabia, Saudi

☆ Elon Musk is gloating on X after Biden's big-boy press conference fumbles
▼ + stars: | 2024-07-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewPresident Joe Biden's press conference on Thursday was hotly watched by the nation, including one Elon Musk. Musk said in response to a clip where Biden had accidentally referred to Vice President Kamala Harris as "Vice President Trump." Advertisement"I wouldn't have picked Vice President Trump to be vice president, if she's not qualified to be president," Biden said on Thursday. — Elon Musk (@elonmusk) July 12, 2024Musk also poked fun at the muted facial expressions Biden's Cabinet members had when he made the mistake. I'm not saying I'd vote for Trump," Musk told moderator Andrew Ross Sorkin at The New York Times Dealbook Summit in November.

Persons: —, Joe Biden's, Elon, couldn't, gaffes, Musk, Biden, Kamala Harris, Trump, Harris, she's, Karine Jean, Pierre, John Kirby, Justin Sink, Tesla, Donald Trump, I'm, Andrew Ross Sorkin, Ron DeSantis, he's, Don Lemon Organizations: Service, Business, Trump, downer, White, National Security, Bloomberg, Democratic Party of, The New York Times Dealbook Summit, Florida Gov, GOP, CNN, BI Locations: Southern, Florida

☆ China basically just admitted it's also concerned about solar panel overcapacity
▼ + stars: | 2024-07-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China just issued draft regulations to rein in solar cell production. This shows Beijing knows and is concerned about industrial overcapacity. China and the West have been mired in a trade dispute over overcapacity, which Beijing has pushed back on. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But Beijing recently released a new set of draft rules that show China knows and is concerned about overcapacity too — specifically in solar cell production.

Persons: — Organizations: Service, Business Locations: China, Beijing

☆ 14 analysts raised their price targets on this Chinese tech giant in the past 3 weeks
▼ + stars: | 2024-07-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

One Chinese tech stock got a lot of love from analysts in recent weeks. That's internet giant Tencent, which is known for its gaming business and runs WeChat, one of the world's largest messaging apps. Fourteen analysts raised their price targets for the stock and none lowered it in the past three weeks, according to a CNBC Pro screen using FactSet. CNBC Pro screened for stocks that had their price targets raised in that period by all analysts covering them. Of all Chinese internet stocks, Tencent offers "one of the most visible and sustainable" profit growth of around 20%, Goldman said in its July 1 note.

Persons: Tencent, Goldman, Jefferies, FactSet, Tencent's Organizations: CNBC, CNBC Pro, Hong Locations: Asia, Hong Kong, China

☆ Support is coming in for an embattled Biden — from Trumpworld
▼ + stars: | 2024-07-12 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

But he's getting some support — and it's coming from Trumpworld. Advertisement"I don't think anyone wants to call this guy at an emergency at 3 o'clock in the morning but you know, he did an hour. It's almost an hour," Trump Jr. said midway through Biden's press conference. I don't think it was a great job by any means, but I think it's a big one," he said near the end of the podcast. The Trump campaign had already expressed its preference for Biden as a candidate even before Biden's disastrous debate on June 27.

Persons: —, Joe Biden, he's, Donald Trump, Biden, Donald Trump Jr, Trump's, Don Jr, Trump, Will Biden, tonight’s presser, Kari Lake @KariLake, SCVTUQbMSc, DxZoiZys83 — Donald Trump Jr, Jonathan Swan, Swan, Politico, Susie Wiles, Tim Alberta, TRUMP, he'll, Nancy Pelosi, haven't, Pelosi, Joe, Biden didn't Organizations: Service, Biden, Business, Trump Jr, New York Times, Democratic Party, Trump, — Trump, Democrats, Democratic, BI Locations: Trumpworld, Trump, Florida

☆ Key Democrats Chuck Schumer and Nancy Pelosi might just be open to ditching Biden
▼ + stars: | 2024-07-11 | by ( Kwan Wei Kevin Tan | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

"As I have made clear repeatedly publicly and privately, I support President Biden and remain committed to ensuring Donald Trump is defeated in November," Schumer said. Related storiesDuring an interview with MSNBC's "Morning Joe," Pelosi declined to give a firm endorsement of Biden staying in the race. A spokesperson for Pelosi later said in a statement to The Washington Post on the same day that the California congresswoman "fully supports whatever President Biden decides to do." AdvertisementRepresentatives for Pelosi and Biden didn't immediately respond to requests for comment from BI sent outside regular business hours. "It's time to come together, move forward as a unified party, and defeat Donald Trump," the letter continued.

Persons: —, Joe Biden, Biden, Donald Trump, Chuck Schumer, Nancy Pelosi, Axios, Schumer, Gavin Newsom, Kamala Harris, Pelosi — unmoored, Pelosi, Biden didn't, @SpeakerPelosi, @Morning_Joe, Alexandria Ocasio, Cortez, Vermont Sen, Bernie Sanders, HuffPost Organizations: Service, Business, New York, Democratic, Gov, Schumer, Washington Post, California congresswoman, BI, New York Rep Locations: California, Alexandria, Vermont

☆ Welcome to summer! Body-shaming is everywhere
▼ + stars: | 2024-07-11 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +7 min

Comfort and connectionIn addition to all the messages about what people should look like, the physical sensations of summer often bring increased attention to people’s bodies, Campos said. For a better relationship with your body this summer, Campos recommends finding ways to connect with yourself in more enjoyable ways. “That is a connected moment where I can say, ‘This feels good in my body,’” Campos said. “When somebody’s having a hard body image day … I want them to check in about what else is going on,” she said. “You might feel better, but it doesn’t actually change anything in your body.

Persons: they’re, ”, Rebecca Moravec, Bri Campos, Campos, “ You’re, ’ ” Campos, Moravec, Whitney Trotter, you’ll, Jordi Salas, ” Moravec, “, I’m, Trotter, ” Trotter Organizations: CNN, Getty Locations: Denver, Paramus , New Jersey, Austin , Texas

☆ Millionaires are leaving Hong Kong, but its art scene is booming
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +13 min

Narration: Home to a host of financial institutions, Hong Kong is one of the world's wealthiest cities. The Hong Kong Art Gallery Association recorded a 27% increase in member galleries between 2021 and 2023. Nicolas Chow: Chinese art and ancient Chinese art is really at the genesis of Sotheby's Hong Kong when we came here. Angelle Siyang-Le: We firmly believe that Hong Kong is the best place to do art business in Asia, Hong Kong is a natural melting. Emily Tan: That's all from Hong Kong – join us next time in a new city as we explore 'The Art of Appreciation.'

Persons: –, Nicolas Chow, Emily Tan, we've, they've, It's, Emperor Chen, Chen, it's, I'm, who'll, she's, Mak2, Allison Cheung, Angelle, Hong Kong, they're, Emily, Hong Kong – Organizations: Hong, Hong Kong Art Gallery, Asia, Art, Basel, Art Basel Locations: Hong Kong, Asia, Art Basel, Sarthe, Hong Kong's, Swiss, Basel, Miami, Paris, Hong, US, Australia, Switzerland, France, Southeast Asia, Korea, Mak2, Sims

☆ The AI chip race is minting thousands of new millionaires in Taiwan, but not everyone is benefiting
▼ + stars: | 2024-07-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

This number could surge by 47% to about 1.16 million millionaires by 2028, UBS predicts, leading the 56 global markets the bank analyzed in its report. AdvertisementThe US was home to nearly 22 million millionaires last year, per UBS. That number is expected to grow 16% to 25.5 million millionaires over the next five years. UBS attributes Taiwan's wealth growth to its semiconductor chip industry, which is "set to reap the rewards of the boom in artificial intelligence." The rise of the chip behemoth has created an entire tech ecosystem in Taiwan, much of which is centered on hardware.

Persons: —, TSMC, Ma Tieying Organizations: Service, UBS, Business, Taiwan Semiconductor Manufacturing Company, chipmaker, Apple, Nvidia, New York Stock Exchange, DBS Locations: Taiwan, Swiss, China

☆ Billionaire Ray Dalio outlines the 3 strategies Democrats could use to deal with Biden, the 'emperor who has no clothes'
▼ + stars: | 2024-07-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Dalio, the founder of the world's largest hedge fund, Bridgewater Associates, wrote a column for Time magazine published Tuesday. "To begin, I want to make clear that I respect, like, and empathize with President Biden and I get that Democrats find themselves in a difficult position," Dalio wrote. "I look at this case like the fable of the emperor who has no clothes," Dalio added. First, the party can retain Biden as its nominee, a path Dalio thinks the party has chosen for now — at least publicly. Related storiesThe billionaire then suggested two alternative strategies, including a "mini-primary plan" where a select group of candidates battle it out to succeed Biden.

Persons: —, Ray Dalio, Joe Biden's, Biden, Dalio, straightforwardness, Kamala Harris, Biden didn't, Donald Trump, Nancy Pelosi, Joe Organizations: Service, Democratic Party, Bridgewater Associates, LinkedIn, Business, Biden, Democratic, BI, Trump

☆ A former Bill Clinton advisor says it's 'inevitable' that Biden drops out
▼ + stars: | 2024-07-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

James Carville was one of the masterminds behind Bill Clinton's winning presidential campaign in 1992. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA former advisor to Bill Clinton doesn't think President Joe Biden will be on the ballot this November. I'm just telling you it's inevitable," James Carville, 79, told NewsNation's Chris Cuomo on Monday. His family will understand," Carville, who is best known for masterminding Clinton's winning presidential campaign in 1992, said of Biden.

Persons: James Carville, Bill Clinton's, Biden, Carville, —, Bill Clinton doesn't, Joe Biden, I'm, NewsNation's Chris Cuomo, masterminding Clinton's Organizations: Democratic, Service, Business

☆ Here's the who's who of business moguls descending on Sun Valley in rural Idaho for a weeklong summer camp for billionaires
▼ + stars: | 2024-07-10 | by ( Hannah Getahun | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

The Allen & Co. Sun Valley Conference draws the ultrawealthy to Idaho for a weeklong retreat. & Co. draws the ultrawealthy to Idaho for a weeklong retreat. The event allows business leaders to connect — and potentially strike some deals. AdvertisementInvestment firm Allen & Co.'s Sun Valley Conference is again drawing in the world's ultra-wealthy for a weeklong retreat in the idyllic Idaho wilderness from July 9 to July 13. This story is available exclusively to Business Insider subscribers.

Persons: Sam Altman, Shari Redstone, Bob Iger, — Organizations: Allen, Co, Sun Valley Conference, Disney, Service, Investment, Sun, Conference, Business Locations: Idaho

☆ Trump is already trialing nicknames for Kamala Harris, who he'll have to face off against if Biden drops out
▼ + stars: | 2024-07-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Trump has been lasering in on Vice President Kamala Harris in the weeks following Biden's stumbling performance at their debate on June 27. "I got him out the race, and that means we have Kamala," Trump said in the clip. "Respects to our potentially new Democrat Challenger, Laffin' Kamala Harris," Trump said, using a new nickname for the vice president. AdvertisementIn fact, "Laffin' Kamala Harris" isn't the only nickname he's coined for her. Trump has applied his penchant for name-calling to his Democratic rivals too, dubbing Hillary Clinton "Crooked Hillary" and Joe Biden "Sleepy Joe."

Persons: —, Joe Biden, Donald Trump doesn't, Trump, Kamala Harris, Harris, Biden, Kamala, Laffin, he's, Crooked Joe Biden, Chris LaCivita, Susie Wiles, Joe, Copilot Kamala Harris, Marco Rubio, Ted Cruz, Marco, Lyin, Ted, Ron DeSantis, Ron DeSanctimonious, Hillary Clinton, Hillary, Sleepy Joe Organizations: Service, Democratic, Business, Democrat Challenger, Biden, Washington Post, BI Locations: Iowa, Florida, California, United States

☆ Amazon Says It Reached a Climate Goal Seven Years Early
▼ + stars: | 2024-07-10 | by ( Ivan Penn | Eli Tan | ) www.nytimes.com time to read: +1 min

Amazon announced on Wednesday that effectively all of the electricity its operations used last year came from sources that did not produce greenhouse gas emissions. In its announcement, Amazon said it had reached its goal of 100 percent clean energy seven years ahead of schedule. The company said it invested billions of dollars in more than 500 solar and wind projects to achieve its target. The clean energy projects Amazon has invested in can produce enough electricity to power the equivalent of 7.6 million U.S. homes, the company said. Amazon aims to reach net-zero carbon emissions from all of its operations, including its delivery vans, planes and other means of transportation, by 2040.

Organizations: Amazon

☆ The West's attempts at isolating Russia just took another big blow
▼ + stars: | 2024-07-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewIndian Prime Minister Narendra Modi made Russia the destination of his first bilateral visit after securing a historic third term in office. On Monday, the US State Department said it has raised concerns with New Delhi about India's relationship with Russia. AdvertisementModi's advances toward Putin come less than two months after the usually reserved Chinese leader Xi Jinping hugged Putin not once, but twice — dealing another blow to the West's isolation of Russia. India imported about $60 billion of goods a year from Russia in the last fiscal year. "Due to Russia's close ties with China, India can turn to Russia to help defuse crises when bilateral geopolitical tensions flare up between India and China," he added.

Persons: —, Narendra Modi, Vladimir Putin, Volodymyr Zelenskyy, Putin, Xi Jinping, Xi, Modi, Rajiv Biswas, who's, Biswas, Vinay Kwatra Organizations: Service, NATO, Washington DC, Business, US State Department Locations: Russia, Ukrainian, Washington, Moscow, New Delhi, India, China

☆ Chip giant TSMC crosses $1 trillion market cap, riding on the back of Nvidia's gains
▼ + stars: | 2024-07-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Shares of upstream chip companies TSMC and ASML have surged on the back of Nvidia's gains. TSMC's market cap briefly crossed $1 trillion on Monday. The stock price of ASML — Europe's third-most valuable company — crossed 1,000 euros apiece. AdvertisementTech giant Nvidia has been riding the artificial intelligence wave that made it one of the world's most valuable companies. Now, Nvidia's suppliers and upstream partners are riding on the hype, too.

Persons: — Organizations: Service, Tech, Nvidia, Taiwan Semiconductor Manufacturing Company, New York Stock Exchange, Business

☆ Russia's war economy is so hot that at least 12 of its oligarchs received $11 billion in dividends over 15 months
▼ + stars: | 2024-07-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia's economy is boosting wealth for of oligarchs, some of whom are sanctioned. A dozen Russian tycoons pocketed $11.4 billion in dividends for all of 2023 up until the first quarter of 2024. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's wartime economy has not only made some poor people better off — some of Russia's oligarchs are getting richer, too. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Bloomberg, Business

☆ This old 2020 email from Mark Zuckerberg might just be the explanation for his extreme makeover
▼ + stars: | 2024-07-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewMark Zuckerberg has certainly stunned the world with his transformation from a hoodie-loving nerd to a chain-wearing tech bro. Mark Zuckerberg emails Peter ThielJanuary 4, 2020 pic.twitter.com/0oqreeFKUO — Internal Tech Emails (@TechEmails) July 7, 2024Interestingly, Zuckerberg wasn't the only one who saw himself as a youth icon. The company has seen increased competition from the likes of TikTok, which hooked users with its focus on short-form videos. Zuckerberg wrote in his post. AdvertisementThe image makeover has also delivered a huge PR boost for Zuckerberg, who wasn't always seen as the coolest guy in tech.

Persons: —, Mark Zuckerberg, Peter Thiel, Zuckerberg, millennials, Jonathan Skrmetti, Thiel, I'm, might've, hydrofoiling, wasn't, Daniel Ek, Forbes, Ek, He's, he's, Zuckerberg didn't Organizations: Service, Facebook, Business, Meta, BI Locations: Tennessee, USA, Cambridge

☆ Jon Stewart is afraid Biden doesn't realize what's at stake and that 'there are no participation trophies in endgame democracy'
▼ + stars: | 2024-07-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Jon Stewart thinks Joe Biden may be underestimating the consequences of losing to Donald Trump. Biden said that he could accept defeat "as long as I gave it my all." "There are no participation trophies in endgame democracy," Stewart said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPresident Joe Biden says he would be OK with losing to former President Donald Trump in their electoral rematch this November, and Jon Stewart thinks that's a huge problem.

Persons: Jon Stewart, Joe Biden, Donald Trump, Biden, Stewart, —, that's, George Stephanopoulos Organizations: Service, ABC, Business

☆ Whoopi Goldberg says she'd vote for Biden even if he 'pooped his pants' or 'can't put a sentence together'
▼ + stars: | 2024-07-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Whoopi Goldberg says she isn't bothered by Joe Biden's recent debate with Donald Trump. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementPresident Joe Biden's stumbles and gaffes might have fueled calls for him to drop out of the election, but Whoopi Goldberg says she's still backing the 81-year-old. "I don't care if he's pooped his pants. I don't care if he can't put a sentence together," the cohost of ABC's "The View" said in an episode that aired Monday.

Persons: Whoopi Goldberg, Joe Biden's, Donald Trump, Goldberg, Biden, —, gaffes, she's, he's Organizations: Trump, Service, Business

☆ There's a major bottleneck in AI data center expansion, analysts say. Here's how to play it
▼ + stars: | 2024-07-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

One area is causing a major bottleneck in data center expansion and the energy transition, according to several analysts: the power grid. Morningstar said in its third-quarter equity market outlook last week that: "The grid is the biggest bottleneck of the energy transition. Over in China, there are also targets to accelerate the "intelligent transformation" of grid infrastructure and the construction of smart micro-grids, the bank said. Over in China, HSBC likes one Chinese stock to play the power grid infrastructure bottleneck. There's also one exchange-traded fund that tracks the sector: the First Trust Nasdaq Clean Edge Smart Grid Infrastructure UCITS ETF , which tracks the performance of stocks in the grid and electric energy infrastructure sector.

Persons: Morningstar, Louis Navellier, There's Organizations: Citi, Veolia, HSBC, Navellier, Associates, Emcor, Infrastructure Locations: United States, New York , California, Europe, China, RWE

☆ There's a reason AI firms can barely conceal their contempt for the creative industry
▼ + stars: | 2024-07-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

AI companies have been upfront with their goal to disrupt the creative industry. But they have barely been able to hide their contempt for the artists they are trying to displace. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAI companies may be hard at work disrupting the creative industry, but some firms can barely hide their disdain for the artists their product might hurt. This story is available exclusively to Business Insider subscribers.

Persons: —, Mira Murati, Murati Organizations: Service, creatives, Dartmouth College, Business Locations: Columbia, mater

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