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AdvertisementGoogle's DeepMind and YouTube previously built and shelved Orca, an AI music tool. Orca could generate music mimicking artists. Google trained it on copyrighted YouTube music videos. In November 2023, DeepMind announced a music generation AI model named Lyria, which was a pared-down version of the Orca project. AdvertisementSome employees who worked on Lyria and Orca left to found a new startup named Udio, which makes an AI music creation app.
Persons: Lizzie Widhelm, Taylor Swift, Orca, OpenAI, DeepMind, John Legend — Organizations: YouTube, Google
This is due to unprofitable EV investments, Chinese market losses, and more domestic competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. AdvertisementBut despite that growth — and with EVs accounting for roughly 10% of US auto sales — companies not named Tesla have struggled to make their EV businesses profitable. German carmakers are losing out to Chinese EV upstarts like BYD. Analysts say inventory levels are improving at Stellantis and industry-wide as automakers react to a slower sales environment.
Persons: Ford, Josh Lefkowitz, EVs, That's, Tesla, Tim Levin, Daniel Pier, Stellantis, Price, Donald Trump Organizations: Ford, GM, Volkswagen Group, General Motors, Volkswagen, Silverado, Angeles Auto, EV, Cadillac, VW Group, Geely, VW, Competition Locations: Germany, Cadillac Lyriq, China, United States
AdvertisementOpenAI shifted away from being a nonprofit to attract more capital, says CEO Sam Altman. OpenAI needed more funding to scale its AI research efforts, he said in a recent interview. OpenAI's $6.6 billion funding round came with some strings attached: it has 2 years to become a for-profit entity. Altman said that scaling its AI models was a major factor in OpenAI's eventual move toward a profit system. Scaling AI models and providing the data centers and chips necessary to train them to be smarter than the previous interaction is highly expensive.
Persons: OpenAI, Sam Altman, Elon Musk, Altman, OpenAI's, Organizations: Harvard Business School, Harvard
New York CNN —The Jeep Gladiator was unveiled to great fanfare by then-owner Fiat Chrysler in 2018, the first pickup model for the hot brand in more than a quarter of a century. Gladiator sales have fallen steadily from the 2020 peak as a result and are down another 21% so far this year. The company’s relentless focus on short-term profits for 2023 had devastating consequences for Stellantis, Farris wrote. A car hauler transporting Jeep Wranglers drives past striking United Auto Workers members outside the Stellantis Jeep Plant in Toledo, Ohio, during the 2023 strike. One of the two factories at that assembly complex is about to lose one of the two shifts that builds the Jeep Gladiator.
Persons: Stellantis, Dodge, , Jessica Caldwell, Edmunds, , Charlie Chesbrough, Kevin Farris, Carlos Tavares, Farris, Farris ’, Rebecca Cook, “ You’re, he’s, ” Farris Organizations: New, New York CNN, Fiat Chrysler, Fiat Chrysler’s, PSA Group, Gladiators, General Motors, Ford, Chrysler, Pacifica minivan, Toledo Assembly, Stellantis, Ford Motor, Cox Automotive, Dealers, Council, United Auto Workers, Jeep Wranglers, CNN, Challenger, Cherokee, Renegade Locations: New York, Toledo, Edmunds, Warren , Michigan, Stellantis, Toledo , Ohio
A dronemaking startup whose equipment is being used by the Ukrainian military got a cash injection from NATO. AdvertisementThe company has said its equipment is being used in Ukraine though not which of its models were sent. Drones are used for surveillance, to carry light supplies, for targeting assistance, and as weapons. AdvertisementThe battlefield features drones from around the world, spanning cheap consumer drones, high-end military hardware, and improvised systems. A new £60 million package of military support from the UK-administered International Fund for Ukraine will provide advanced new surveillance drones to support 🇺🇦's Armed Forces.
Persons: Ukraine —, tim e Organizations: NATO, NATO's Innovation, UK Ministry of Defence, Fund Locations: Ukraine, Ukrainian, Portuguese
UK Export Finance's support helps UK businesses tap into global market opportunities. Small businesses like Premier Ship Models can get guarantees to help them access working capital and free guidance on the export finance options available. UK Export Finance (UKEF), the UK government's export credit agency, supports UK businesses to win contracts to export abroad by providing attractive financing terms for buyers, and fulfill those contracts with the help of working capital and trade finance. Since 2020, UKEF has steadily increased its support for small businesses, with more than half of the businesses it assists being small businesses. UKEF can support small businesses through its network of regional Export Finance Managers based around the UK who can provide free and impartial consultations to businesses on their export finance needs.
Persons: UKEF, Tim Reid, Rashid Lalloo, Lalloo, Craig Green, Mike Swift, Reid, Organizations: Export, UK Export Finance, Models, Export Finance, Premier Ship Models, General Export Facility, Insider Studios Locations: New York, UKEF, Mauritius, Oman, Hong Kong, London
Following the trade, Jim Cramer's Charitable Trust will own 750 shares of AVGO, increasing its weighting to about 3.50% from about 3.25%. We're nibbling on Broadcom shares, buying back the second half of the 100 shares we sold in June at a split-adjusted price of $181. Like most chip stocks excluding Nvidia, Broadcom has fallen from its recent highs. Shares of this AI chip designer and software company have pulled back nearly 12% since closing at a high of nearly $186 apiece on Oct. 9. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, We're, That's, , Jensen Huang, Blackwell, Jim Cramer, Jim, Michael M Organizations: Broadcom, AVGO, Nvidia, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: New York City
AdvertisementDonald Trump has surrounded himself with people who have competing views on AI regulation. Elon Musk, for example, has supported more AI regulation in the past. Some Silicon Valley veterans are betting that president-elect Donald Trump's new administration will make AI development a top priority. AdvertisementMusk, who spent over $130 million on Trump's campaign, has called for greater regulation of AI in the past. It's not clear if that effort will impact their views on AI regulation.
Persons: Donald Trump, Elon Musk, JD Vance, Donald Trump's, Big, Marc Andreessen, Trump, Joe Biden, California's, Gavin Newsom, OpenAI, Sam Altman, Greg Brockman, Vivek Ramaswamy, Ramaswamy, It's, Vance, Calvin Newport, Eric Schmidt Organizations: Trump, Trump Super PAC, Washington Post, California, Department of Government, Big Tech, Georgetown University Locations: Washington, Silicon Valley, China
Its drone units account for 80% of Russian losses, The New York Times reported. Ukraine's drone units now account for at least 80% of Russian frontline losses, The New York Times reported. The outlet reported that small Ukrainian drone teams had become prized targets for Russia. Ukraine's frontline drone units work in small teams, using remotely controlled first-person-view (FPV) drones to surveil and target Russian forces. In October, Ukraine exceeded its annual target of producing a million FPV drones for its military, Lieutenant General Ivan Havryliuk, Deputy Minister of Defense of Ukraine, told RBC-Ukraine.
Persons: Sgt, Maj, Vasyl, Ivan Havryliuk Organizations: New York Times, Times, Russian, Defense, RBC Locations: Russia, US, Ukraine
Black Friday is still a few weeks away, but early Black Friday Best Buy deals are already here, with notable deals on TVs, laptops, headphones and more. I frequently cover shopping events as a tech reporter for NBC Select, and I’ve been combing through discounts to find the best early Black Friday Best Buy deals actually worth shopping. SKIP AHEAD Best early Black Friday Best Buy deals | How I found the best early Black Friday Best Buy deals | Why trust NBC Select? How I found the best early Black Friday Best Buy dealsAll of my recommendations above are based on NBC Select’s previous coverage and reporting. For this piece, I researched early Black Friday deals across Best Buy to find notable products across categories like home, audio, TVs and gaming.
Persons: Belkin, Zoe Malin’s, It’s, Smart, Mario, TikTok Organizations: Retailers, Walmart, Home, NBC, Echo, Gaming, Nintendo, Mario Kart, Travel, Giftable Tech, Facebook, Twitter
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoth open and closed source models essential to AI race, Hugging Face co-founder saysThomas Wolf, co-founder and chief science officer at Hugging Face, says both open source and closed source artificial intelligence models are going to be critical to the future of the industry.
Persons: Thomas Wolf
Simply put, the leading maker of AI chips again fell victim to the curse of high expectations. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. Now, as we start this next generation, we'll be seeing models run on 100,000 Blackwell chips — and scaling is still in effect. Huang's argument is that going beyond 100,000 Blackwell chips will yield even more capable models. It's a fair question to ask because Nvidia's stock has historically taken a pretty big hit when its customers – such as cloud-computing providers – start uttering that phrase.
Persons: That's, Nvidia's, Blackwell, Colette Kress, Hopper, Kress, Jensen Huang, Huang, there's, Jim Cramer's, Jim Cramer, Jim, Akio Kon Organizations: Nvidia, Revenue, Enterprise, Devices, Intel, Hopper, Blackwell, Microsoft, Meta, CNBC, Nvidia Corp, Summit Japan, Bloomberg, Getty Locations: U.S, Tokyo, Japan
Jim Cramer said Wednesday he's feeling even better about Apple after a new piece of Wall Street research. "This piece makes me feel more confident [about Apple]," Jim said Wednesday. "They are transitioning in a very deft way from making China by far their biggest market to India," Jim said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. An Apple logo is displayed on a smartphone with stock market values in the background.
Persons: Jim Cramer, Bernstein, Toni Sacconaghi, , Jim, Donald Trump's, Jim Cramer's Organizations: Apple, JPMorgan, Apple's, F1Q25, UBS, Apple Intelligence, CNBC, Getty Locations: China, India, Philippines, Indonesia
Ram’s first electric truck has been delayed
  + stars: | 2024-11-20 | by ( ) edition.cnn.com   time to read: +3 min
Reuters —Stellantis said on Tuesday it will deploy a new vehicle system that will support assembly of gasoline, hybrid and electric models, but in a sign of how turbulent the electric-vehicle transition is, the automaker also delayed production of Ram electric pickup trucks. Tavares said the automaker is delaying production of its electric Ram pickups until the first half of 2025 from this year, citing the need to ensure quality. The global industry faces even greater uncertainty around EV demand if U.S. President-elect Donald Trump carries out plans to unravel various incentives around EV production and sales. Battery electric vehicles on Frame will have up to 500 miles (805 km) of range, and it will offer a 14,000-pound (6,350-kg) towing capacity, the company said. It will also support hydrogen and extended-range electric vehicles.
Persons: Reuters — Stellantis, , Carlos Tavares, Tavares, Stellantis, Donald Trump, Ram Organizations: Reuters, Ford, General Motors, GM, Jeep, Battery Locations: Italian, Detroit, U.S, Europe, North America
Those hopes fall on Blackwell, which is Nvidia's name for a family of server products based around its next-generation AI chip. Some of Nvidia's most important end-customers have already received some Blackwell chips, the company confirmed on Wednesday. "We will we'll ship more Blackwells next quarter than this [quarter], and we'll ship more Blackwells the quarter after that than than our first quarter," Huang said. A limiting factor to producing more Blackwell systems is the amount of components that Nvidia's suppliers can provide, Huang said. As Blackwell rolls out, Nvidia's current AI chips, which it calls Hopper, will be relegated to serving AI models, not creating new ones.
Persons: Jensen Huang, Colette Kress, Blackwell, Huang, OpenAI, Hopper, Chris Rolland Organizations: NVIDIA, Center, Blackwell, Nvidia, Microsoft, Oracle, SK Hynix, Micron, Amazon Locations: Washington , DC, Nvidia's, Vertiv
Business spending on generative AI surged 500% this year, from $2.3 billion in 2023 to $13.8 billion, according to data released by Menlo Ventures on Wednesday. The report also found that OpenAI ceded market share in enterprise AI, declining from 50% to 34%. Anthropic doubled its market share from 12% to 24%. Although OpenAI and Anthropic dominated companies' AI model use, he said, people are "juggling models" and that habit is "not a well-understood piece of data." Meta 's market share stayed at 16% and Cohere's share remained at 3%.
Persons: Anthropic, OpenAI, Tim Tully, Claude, Tully, that's, Mistral's, Google's, Anthropic's Claude, , chatbots Organizations: Menlo Ventures, Menlo, CNBC, Google, Microsoft Locations: Anthropic
Google has promised to appeal; the company didn’t immediately respond to a request for comment on Wednesday’s filing. “Google is a monopolist, and it has acted as one to maintain its monopoly,” Mehta wrote in his opinion. The Microsoft case has been credited with paving the way for Mozilla’s Firefox and Google’s Chrome browsers, which ultimately allowed Google to promote its search engine to billions of internet users. The Microsoft parallels in the Google case are clear, Mehta wrote in his August opinion. Even as Google fights the Justice Department on remedies in the search case, the company is embroiled in another antitrust battle just across the Potomac River in Alexandria, Virginia.
Persons: didn’t, Amit Mehta, Mehta, Satya Nadella, Bing, OpenAI, Trump, Joe Biden, – Mehta, Sherman, ” Mehta, , Organizations: CNN, Google, Justice Department, Apple, Samsung, DOJ, Microsoft, Verizon, Court, District, Columbia, Chrome, Windows, Netscape, Department Locations: California, Alexandria , Virginia
And some conservative personalities are calling out the company's new video ad for being too "woke." But that "exuberant modernism," particularly in the company's video ad, is being mocked by some people online. AdvertisementJaguar's new video ad features models in colorful, modern clothing, and doesn't show any cars. (Current Jaguar models left in their inventories will be sold as pre-owned, a company spokesperson previously told Business Insider.) Jaguar's new brand strategy was created by its own in-house design team, not an external agency, according to the UK's Creative Review.
Persons: Tesla's Elon, Tesla's Elon Musk, Gerry McGovern, Elon Musk, Musk, India's Tata, Ian Miles Cheong, Nick Freitas, Bud Light, Bud, Kevin Dahlstrom, it's, Martin Brundle, who's, they're Organizations: Jaguar, Rover, India's, India's Tata Motors, Conservative, Republican, Delegates Locations: Miami, EVs, Virginia
Expectations are high for Nvidia's earnings. Momentum behind Nvidia's Blackwell ramp Wall Street majors view Nvidia's Blackwell platform — which should be generally available in the January quarter — as a multibillion-dollar revenue opportunity for the chipmaker. Nvidia had said in August that it expected about "several billion" in Blackwell sales during the January quarter. According to Piper Sandler analyst Harsh Kumar, Nvidia could deliver between $5 billion and $8 billion of Blackwell revenue in the January quarter. Analysts are also largely undeterred by recent concerns about a recent report from The Information that Nvidia's Blackwell NVL-72 server racks are experiencing issues with overheating.
Persons: Blackwell, Nvidia's, Piper Sandler, Harsh Kumar, Kumar, Goldman Sachs, Goldman, Toshiya Hari, Nvidia's Blackwell NVL, Vivek Arya, Hopper, Atif Malik, Hari, Nvidia's Hopper, Wells Fargo's Aaron Rakers, Ruben Roy, Roy Organizations: Nvidia, Blackwell, Citi, Nvidia's Blackwell, Bank of America, HSBC, Hopper, Data, Elon
As such, premium seats — currently about 30% of Delta's inventory — will be a majority focus of any added capacity next year. Delta is doubling down on premium seatsDelta's premium cabins, including premium-economy upgrades, Delta One business class, and domestic first class, have long been profit drivers. Delta said its Airbus A350-1000 aircraft will be introduced with about 50% premium seats, for example, while the airline plans to add lie-flat business class to A321neo jets. AdvertisementThis all comes after Delta had higher-than-expected earnings in the third quarter, largely anchored by premium seats, even though it was dinged by a costly CrowdStrike outage. From July through September, Delta generated $5.3 billion in premium revenue compared to $6.3 billion for the economy cabin despite premium taking up less cabin real estate.
Persons: Glen Hauenstein, Hauenstein, Scott Kirby, David Neeleman, They've, Ed Bastian, Donald Trump, Delta, didn't Organizations: Lines, Delta Air Lines, Wednesday, Delta, Spirit Airlines, United Airlines, Breeze Airways, Biden, Airbus, Boeing Locations: Atlanta
As companies across the US confront complex challenges that require overhauling strategies, reimagining business models, and adapting workforce dynamics, many are appointing chief transformation officers to drive these changes. The core figures, including the CEO, the chief operating officer, and the chief financial officer, focus on delivering quarterly results. Being a chief transformation officer, Jesuthasan said, is akin to "building the train while you're driving it down the tracks." AdvertisementBrandon Batt, the chief transformation officer at Quadient, a company focused on digital transformation, knows this all too well. Kinney recently wound down her role as chief transformation officer at Wex.
Persons: Kristy Kinney, Kinney's, Kinney, Alicia Pittman, Pittman, Ravin, Mercer, Jesuthasan, They're, Brandon Batt, Batt, Chengyi Lin, Lin, it's, Gartner Organizations: Boston Consulting Group, Boston Consulting, Organization Locations: Portland , Maine
In today's big story, all eyes are on Nvidia's earnings report after the bell and what it says about the chip giant's future. As the world's top provider of AI chips, demand for Blackwell is a bellwether for the industry's appetite for continued investment in AI. Reports of Blackwell chips overheating spooked the market earlier this week. AdvertisementIt's another cost companies investing in AI chips need to consider in addition to the energy required to fuel them, which has been a headache for tech giants . Barclays trimmed earning estimates next year by as much as 10% for some of the biggest buyers of AI chips, like Meta, Amazon, and Alphabet.
Persons: Jocko, we've, Getty, Tyler Le, It's, Matthew Fox, Blackwell, Jensen Huang, , BI's Emma Cosgrove, There's, hasn't, Howard Lutnick ANGELA WEISS, Howard Lutnick, Cantor Fitzgerald, Julian Robertson, Tiger hasn't, Goldman, Vivek Bantwal, Goldman Sachs, Rebecca Zisser, Rob Kim, Arturo Holmes, Chelsea Jia Feng, Trump's, Elon, colluding, Gary Wang, Sam Bankman, Gina Raimondo, Antony Blinken, Bill Hwang, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Retired Navy, Nvidia, Blackwell, Barclays, Getty, Trump, New, Tiger Management, Partners, Companies, Alexa, Uber, Ticketmaster, Apple, Google, DOJ, International Network of AI, Archegos Capital Management Locations: New York, Silicon, San Francisco, Chicago, London
AdvertisementA bipartisan US congressional commission urges a "Manhattan Project" for AI to outpace China. Trump has previously called China the "primary threat" in the AI race. AdvertisementThe Manhattan Project was a secret program led by the US government during World War II to develop the world's first atomic bombs. Advertisement"We have to take the lead over China, China is the primary threat," he added. OpenAI also cited the Manhattan Project in its blueprint as one of the US's "iconic infrastructure projects that moved the country forward."
Persons: Trump, Donald Trump, Logan, Joe Biden's, OpenAI, Yoshua, Max Tegmark Organizations: China, China Economic, Security, Commission, General Intelligence, US Treasury Department, Business, Manhattan Project, Life Institute, MIT, Guardian, Elon Locations: China, US, Washington
The best Black Friday Tempur-Pedic mattress dealsTempur-Pedic Cloud Mattress (Queen) $1,399.30 $1,999.00 Save 30% The Tempur-Pedic Cloud Mattress features contouring foam that cradles sleepers of all body types and sleeping styles while offering outstanding pressure relief and heat dissipation. View at Tempur-Pedic What we like Check mark icon A check mark. Layers of conforming comfortable and supportive Tempur foam adjust to all sleeping stylesCheck mark icon A check mark. View at Tempur-Pedic What we like Check mark icon A check mark. View at Tempur-Pedic What we like Check mark icon A check mark.
Persons: Pedic Organizations: Business, Shipping Locations: Tempur
Ford to lay off 4,000 workers in Europe
  + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —Ford plans to cut almost 4,000 jobs in Europe over the next three years, about 14% of its workforce in the region, as the carmaker faces slowing demand for electric vehicles and rising competition from China. “The global auto industry continues to be in a period of disruption, especially in Europe, where the industry faces unprecedented competitive, regulatory and economic headwinds,” Ford said in a statement. Last year, the company said it would axe around 4,900 jobs across Europe. The news of the Ford cuts comes just weeks after Volkswagen said it would trim employee pay by 10% to protect jobs and safeguard the company’s future. The German automaker plans to close at least three factories in its home country and lay off tens of thousands of staff as it grapples with a weak car market in Europe and a steep loss of market share in China.
Persons: London CNN — Ford, ” Ford, Dave Johnston, Ford, , John Lawler, ” Lawler Organizations: London CNN, ” Global, Ford, Volkswagen Locations: Europe, China, Germany, United Kingdom, Western
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