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He fell in love with a woman he’d met online. He and Rosa talked on the phone daily for months and exchanged reams of texts in Spanglish. “You’re so sexy, my love,” Danny replied. Though they’d never met, he was making big plans: marriage and family. When the red flags started to pile up, Danny contacted “Catfish,” on MTV, for help.
Persons: Danny, he’d, Rosa, , , ” Danny, they’d, Jose Organizations: MTV, Puerto Locations: Spanglish, Puerto Rican
She had never purchased a home, and as a lawyer, I just assumed I knew how the system worked: The buyer has an agent, but the seller pays a commission (typically 6% of the sale price) that's split between their agent and the buyer's agent. So my agent wasn't going to find me my dream house, and the work of hunting was basically on me. But the real-estate industry has made it hard for many buyers to understand just how little having an agent can help. The class-action settlement with the NAR is going to make it a lot harder for sellers to be forced to pay for buyers' agents. Going forward, for people like me without an agent, a savvy seller may pay just 3% of the sales price to their own agent instead of 6% to be split with a buyer's agent.
Persons: it's, vouched, Obvious, Stephen Brobeck, Alice, Wonderland, I'd, I've, , cosmically, Brobeck Organizations: National Association of Realtors, Hunger, US Department of Justice, Realtors, Consumer Federation of America, New York City, NAR Locations: Brooklyn, New York City, McCarren, Williamsburg, New York
A record surge of data center construction is underway to provide the computing and storage that underpins society's fast-expanding digital footprint and powers artificial intelligence. In areas of the country where data centers have clustered, utilities have unveiled plans to spend billions of dollars to keep up. asked David Springe, the executive director of the National Association of State Utility Consumer Advocates. "Then you have the data centers that are having exponential load growth," Nelson said. Data centers also don't deliver the number of long term jobs – a key yardstick for public benefits – that other industries do.
Persons: Mike DeWine, David Springe, they're, Ryan Augsburger, Augsburger, Ron Nelson, Strategen, ratepayers, Nelson, Steve Helber, That's, PJM, David Lapp, Lapp, Jeffrey Shields, Shields, Kantele Franko, Shelby Moore, Meta, behemoth Blackstone, QTS, John Gavan, Daniel Tait, Tait Organizations: Amazon, Ohioans, Business, Wall, Boston Consulting Group, National Association of State, Consumer, Ohio Manufacturers ' Association, Web Services, Energy, Dominion Energy, Federal Energy Regulatory Commission, Tech, Wall Street titans, American Electric Power, Buckeye Power, AEP, Buckeye, AEP Ohio, Staff, Intel, Policy Institute Locations: Ohio, ratepayers, Chester , Va, Virginia, PJM, Chicago, New Jersey, New York City, Maryland, West Virginia, Pennsylvania, Columbus , Ohio, Denver, New Albany , Ohio, Minnesota, Columbus, Mississippi
A key former Facebook exec has reignited discussion of Oculus founder Palmer Luckey's 2016 firing. Former Oculus CTO and ex-Meta VR exec John Carmack said on X that he regrets not defending Luckey. Carmack and Luckey joined Facebook after it acquired Oculus, the VR company founded by Luckey in 2012, for $2 billion in 2014. "The culture has changed a lot since you left (internal discussions have to be work focused)," Bosworth replied on X. Business Insider reached out to representatives of Bosworth, Carmack, and Luckey but didn't receive an immediate response.
Persons: Palmer, John Carmack, Andrew Bosworth, Luckey, , Palmer Luckey —, Carmack, Hillary Clinton, @PalmerLuckey, OTXBBnkK0p — John Carmack, Donald Trump, Clinton, he's, Carmack —, Bosworth, Meta, Forbes, wasn't, I'm Organizations: Facebook, Meta, Service, VR, Wall Street, Business Locations: California
Opinion: RFK Jr.’s VP pick is a missile aimed at Biden
  + stars: | 2024-03-26 | by ( Paul Begala | ) edition.cnn.com   time to read: +5 min
CNN —Robert F. Kennedy Jr.’s independent presidential campaign can’t win, but it could swing the presidency to former President Donald Trump. RFK Jr.’s namesake father was a Democratic US attorney general and a Democratic senator from New York. So was Joe’s son, RFK Jr’s nephew, Joseph P. Kennedy III. To believe that, one must ignore that Perot, like Clinton, was a change candidate; like Clinton, he was pro-choice, and like Clinton, Perot supported campaign finance reform. But you don’t need decades of experience and reams of data to see who RFK Jr’s bid hurts.
Persons: Paul Begala, Bill Clinton’s, Clinton, Robert F, Kennedy Jr, can’t, Donald Trump, Nicole Shanahan, Kennedy, Shanahan, Sergey Brin, Hillary Clinton, Pete Buttigieg, Ro Khanna, Biden, McDonkeyface, John Francis “ Honey Fitz ” Fitzgerald, Joseph P, Franklin Delano Roosevelt, Bobby Jr, , John F, Edward M, Teddy, Bobby’s, RFK, Kennedy III, Kathleen Kennedy Townsend, Patrick Kennedy, Jean Kennedy Smith, Caroline Kennedy, Barack Obama’s, Bobby Kennedy Jr, Trump, Reagan, I’ve, Ross, Perot, George Bush Organizations: Democratic, CNN, RFK, Biden, Trump, RFK Jr, Google, The New York Times, Times, Boston, Securities Exchange Commission, Rhode Island, Republicans, Twitter, Facebook, Perot Locations: Northern California, California, Great Britain, New York, Massachusetts, United States, Maryland, Rhode, Ireland, Japan, Australia
Politics in India is an expensive business, and sometimes lucrative, too. In this year’s election, parties are expected to spend more than $14 billion — as much as in the United States. But there has been little in the way of transparency for the huge sums sloshing around. Reading between the lines of the spreadsheets full of names poses questions about the intersection of government and business in India. Construction companies, gambling impresarios, pharmaceutical bosses and many more corporate entities and individuals had forked over $1.7 billion in bonds since 2019.
Persons: Jairam Ramesh, Narendra Modi Organizations: State Bank of India, Indian National Congress, Bharatiya Janata Party of Locations: India, United States
The "Love Is Blind" season six reunion didn't shy away from addressing off-screen drama. AdvertisementThe "Love Is Blind" producers did not come to play in the season six reunion. His "Love Is Blind" ex-fiancée Laura Dadisman and current girlfriend Sarah Ann were also asked to confirm that was true, which they did. Not only was that scene excellent drama, but it was extremely cathartic to see Laura say her piece and warn Sarah Ann about Jeramey being fake — even if Sarah Ann didn't actually listen to her warnings in the end. Between the nearly two-hour delay for the "live" broadcast and the Lacheys failing to address some of the most controversial topics of the season, season four star Zack Goytowski served as the voice of the fans more than the actual hosts.
Persons: , Nick, Vanessa Lachey, Jeramey, Sarah Ann, Jeramey didn't, exes, Lutinski, Sarah Ann Bick, he'd, Laura Dadisman, Laura, Sarah Ann's, she'd, Sarah Ann didn't, Trevor, Adam Rose, Netflix Trevor Sova, Chelsea Blackwell, Jimmy Presnell, Teddy Bear Trevor, Natalia Marrero, they'd, Natalia, Jessica, Jimmy, screentime, Jessica Vestal, Amber, Matthew Duliba, Amber Grant, Amber Desiree, Smith, Nick Lachey, Matthew, Clay, Cole, Zanab's, Zack Goytowski, Jackie Bonds, Josh Demas, wasn't, fiancé Marshall Glaze, Jackie, Josh, Marshall Organizations: Service, Netflix, Chelsea
There were just days left to process a batch of federal financial aid applications when Education Department officials made a fateful discovery: 70,000 emails from students all over the country, containing reams of essential data. They were sitting in an inbox, untouched. The students’ futures depended on it. “It needs to get untangled,” Mr. Cordray told his staff members on Thursday, according to recordings of two back-to-back meetings that The New York Times obtained. Three years ago, Congress ordered the Education Department to revamp the new form to make it easier and more accessible.
Persons: Richard Cordray, Mr, Cordray, , Organizations: Education Department, New York Times, Federal Student Aid
Having gone big in “Dune,” his 2021 adaptation of Frank Herbert’s futuristic opus, the director Denis Villeneuve has gone bigger and more far out in the follow up. Set in the aftermath of the first movie, the sequel resumes the story boldly, delivering visions both phantasmagoric and familiar. Like Timothée Chalamet’s dashingly coifed hero — who steers monstrous sandworms over the desert like a charioteer — Villeneuve puts on a great show. The art of cinematic spectacle is alive and rocking in “Dune: Part Two,” and it’s a blast. “Dune” made it clear that Villeneuve isn’t that kind of textualist.
Persons: Frank Herbert’s, Denis Villeneuve, , — Villeneuve, , Jon Spaihts, Stephen McKinley Henderson Organizations: Villeneuve
Fourteen years ago, at a human rights conference in Oslo, I met Julian Assange. From the moment I encountered the wraithlike WikiLeaks founder, I sensed that he might be a morally dubious character. Though Mr. Assange insisted that his purpose was to expose American abuses, the leaks were also a boon to the Taliban and other authoritarian forces around the world. “Well, they’re informants,” Mr. Assange defiantly told them. In 2012, Mr. Assange hosted a talk show on RT (formerly Russia Today), the Kremlin-funded propaganda network that beams conspiracy theories and anti-Western narratives around the world.
Persons: I, Julian Assange, Assange, ” Mr, they’ve, Edward Snowden, Hillary Clinton Organizations: WikiLeaks, The Guardian, Russia Today, Kremlin, National Security Agency, Democratic Locations: Oslo, Israel, Iran, China, Russian, Russia, Moscow, Ukraine
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewChatGPT has been acting up in weird ways in recent months. AI models like GPT-4 are continually tweaked and updated, with OpenAI relying on interactions with users to train ChatGPT to become more conversational and useful. It works through a process called reinforcement learning from human feedback , where the AI model learns which responses are more favorable to users and adjusts accordingly. ChatGPT users said the bot was becoming lazyIn recent months, users of the chatbot, which reportedly now has around 1.7 billion users, have been complaining that it has been acting up.
Persons: , OpenAI, James Zou, ChatGPT, Sam Altman, Zou Organizations: Service, Business, Stanford University, Stanford Locations: GPT
CNN —Fashion’s biggest night of the year is just around the corner, and the Met Gala red carpet theme has finally been announced — along with superstars Zendaya, Jennifer Lopez, Bad Bunny and Chris Hemsworth as this year’s co-chairs. Florals are sure to abound on this year’s red carpet thanks to the theme “The Garden of Time,” but the novel it takes inspiration from has darker undertones. (Pictured above: Rihanna at the 2023 Met Gala.) “One thing I hope this show will activate is that sensorial appreciation of fashion.”The year’s co-chairs — alongside Vogue editor-in-chief, Anna Wintour — include Met Gala mainstays and debuts. The Met Gala theme often vacillates between straightforward retrospectives (such as the event’s 1996 homage to Christian Dior, and the 1997 theme dedicated to Gianni Versace) and more artful, subjective prompts.
Persons: CNN —, Zendaya, Jennifer Lopez, Bad Bunny, Chris Hemsworth, J, Ballard, Princess Aurora, Rihanna, Dimitrios Kambouris, ” Andrew Bolton, Wendy Yu, Anna Wintour —, Hemsworth, Loewe, Jonathan Anderson, Shou Zi Chew, Karl Lagerfeld’s, Christian Dior, Gianni Versace, Count Axel Organizations: CNN, New, Metropolitan Museum of Art, Vogue Locations: British
‘A sheer coincidence’The journey to the Supreme Court unknowingly began even before the insurrection itself. (In the Cawthorn case, the group partnered with a retired GOP state Supreme Court justice.) CREW appealed to the Colorado Supreme Court, whose members were all appointed by Democratic governors, though they originate from a pool of candidates recommended by a bipartisan panel. Trump appealed the Colorado ruling to the US Supreme Court in early January and oral arguments are set for Thursday. “It’s embarrassing, and it shows the imbalance on our state Supreme Court,” Buck told CNN.
Persons: Donald Trump, , , Marjorie Taylor Greene, Madison Cawthorn, coalescing, , Donald Sherman, Gerard Magliocca, ” Magliocca, United States …, Trump, Donald Trump’s, Jack Dempsey, Mitch McConnell, ” He’d, hadn’t, James Bopp, Greene, didn’t, Ron Fein, resoundingly, Bopp, ” Fein, Couy Griffin, ” Sherman, Griffin, ” Griffin, Trump’s, William Baude, Michael Stokes Paulsen, J, Michael Luttig, , Sherman, Winston Pingeon, Pingeon, Sarah Wallace, ” Donald Sherman, State Jena Griswold, FDR, Norma Anderson, “ I’ve, Wallace, Magliocca, disqualifying Trump, Carlos Samour, vindicating, Ken Buck, Ken Buck of Colorado, denialism, Buck, ” Buck, , ” CNN’s Scott Bronstein Organizations: Washington CNN, Trump, Liberal, Rep, Madison, Citizens, Indiana University, United, Capitol, AP Police, National Guard, Republican, Republicans, GOP, Amnesty, , Cowboys, Trump Republicans, Federalist Society, Colorado Supreme, US Capitol Police, Responsibility, Ethics, Abaca Press, Colorado, State, Colorado Legislature, Court, Democratic, Dissenting, US Supreme, Supreme, CNN Locations: Colorado’s, Colorado, Thursday’s, America, Washington, United States, DC, Colorado and Maine, Marjorie Taylor Greene of Georgia, North Carolina, Cawthorn, Georgia, New Mexico, Denver, “ Colorado, Israel, Michigan, Minnesota, Washington ,, Dissenting Colorado, Oregon, Illinois, Ken Buck of
CNN —A former CIA employee was sentenced to 40 years in prison after carrying out the largest data leak in the agency’s history, the US Attorney’s Office of the Southern District of New York announced Thursday. He was also found guilty in 2023 of receiving, possessing and transporting child pornography, according to the US Attorney’s Office. He had worked as a computer engineer within the CIA’s Center for Cyber Intelligence, and created cyber tools that could grab data undetected from computers. A year later, investigators said Schulte stole cyber tools and source code and transferred them to WikiLeaks, according to court records. Schulte, who also allegedly lied to CIA and FBI investigators to cover his tracks, was arrested in August 2017 on child pornography charges.
Persons: CNN —, Joshua Schulte –, , Schulte, “ Joshua Schulte, Damian Williams, ” Williams, Joshua Schulte, Elizabeth Williams, James Smith Organizations: CNN, CIA, US, Office, Southern, of New York, WikiLeaks, CIA’s, Cyber Intelligence, FBI, AP “, Investigators Locations: New York
Fox held separate pre-Iowa town halls for DeSantis and Haley, but at 6 p.m. before prime time. Frustration boiled over when DeSantis' campaign manager, James Uthmeier, felt that a Fox graphic didn't show the extent of the candidate's appearances in Iowa. Asked by Ainsley Earhardt if she would withdraw if she lost New Hampshire, Haley said she would not. “I don't care how much y'all want to coronate Donald Trump,” Haley said. “I don't need any advice from RINO Kayleigh McEnany on Fox,” Trump wrote on Truth Social, referencing the conservative slur Republican in Name Only.
Persons: Donald Trump, Nikki Haley, Ron DeSantis, DeSantis, Haley, Trump, Kayleigh McEnany, It's, Brian Stelter, questioners, ” Trump, He's, , Erick Erickson, Bret Baier, Martha MacCallum, , Fox, surrogates, James Uthmeier, “ Fox, ” Uthmeier, Fox’s Laura Ingraham, she’s, ” Ingraham, , Brian Kilmeade, Ainsley Earhardt, Kilmeade, ” Haley, that's, ” Kilmeade, ” Erickson, “ They've, I've, DeSantis aren't, Chris Sununu, Fox's Harris Faulkner, Sununu, Joe Biden, ” Sununu, ” Faulkner, Jean Carroll, Fox's, Biden, RINO, Steve Doocy, ” Fox, “ Trump, ” ___ David Bauder Organizations: Fox News, Republican, Fox, White House, DeSantis, Trump, CNN, Twitter, GOP, “ Fox, New, America, New Hampshire Gov, FOX, Voting Systems, MSNBC, New York Times, Truth, Friends, Associated Press Locations: Florida, Trump, Fox's, Iowa, Fox, weren't, New Hampshire, New York
If you're looking at this year's economic outlook to inform your investing decisions, you may want to rethink that strategy. Investors like Bryant VanCronkhite, a senior portfolio manager at Allspring , agree that the environment is ripe for active management. The days of overpriced equities that benefited from low interest rates will soon hit a brick wall. One option is to take a cue from Wall Street's top analysts — and TipRanks, a financial data firm, has analyzed reams of data to compile useful lists. Below is a set of seven mid-cap stocks that analysts have given "strong buy" ratings with high upside.
Persons: It's, Long, Goldman Sachs, Jean Boivin, Bryant, Organizations: Business, Bank of, BlackRock Investment Institute, Allspring, NYSE, Nasdaq
New York CNN —There is a dangerous undercurrent dragging Americans who wade into the political waters out toward the extreme. But much of the national press, basking ashore on the sun-soaked beach, refuses to acknowledge it in a serious manner. Instead, many journalists have grown comfortable glossing over the treacherous rip tide lurking beneath the surface of the water before their very eyes. Embarrassingly, Ron DeSantis has done more in recent days than most in the press to call attention to the matter. For one, it is still perhaps uncomfortable to acknowledge the depths of dishonesty in which much of right-wing media now operates.
Persons: Joe Biden, Donald Trump, , Ron DeSantis, assailing Trump, Breitbart, Trump, it’s Organizations: New York CNN, Republican Party, Trump, Fox News Locations: New York, Iowa, Overton, Florida
Brokers, Davies noted, normally "don't play with this" and the high-placed executive was "just really entertained." He believes AI assistants will become a common tool for salespeople and executives across real estate and the wider business world. Even boosters of the new tech's expanded role in the real-estate business acknowledge that chatbots could become viewed as a nuisance, a gimmick, or worse. "This is and always will be a relationship driven business," Dirkschneider said. But "the more advanced AI becomes, the less some of our services are needed, and that's what can get scary."
Persons: Chris Davies, Davies, Davies's chatbot, , " Davies, flexibly, Rod Santomassimo, he's, Santomassimo, CBRE, Sandeep Davé, Davé, haven't, James Nelson, Nelson, Bob Knakal, Santomassimo's, David Dirkschneider, Dirkschneider, Dirkschneider doesn't Organizations: Business, Massimo Group, National Association of Realtors, NAR, New York, Oklahoma City Locations: Edmonton, Alberta, Canada, CBRE –, New, New York City, Oklahoma
Lawyers for former President Donald J. Trump said in court papers filed on Tuesday night that they intended to place accusations that the intelligence community was biased against Mr. Trump at the heart of their defense against charges accusing him of illegally holding onto dozens of highly sensitive classified documents after he left office. The lawyers also indicated that they were planning to defend Mr. Trump by seeking to prove that the investigation of the case was “politically motivated and biased.”The court papers, filed in Federal District Court in Fort Pierce, Fla., gave the clearest picture yet of the scorched earth legal strategy that Mr. Trump is apparently planning to use in fighting the classified documents indictment handed up over the summer. While the 68-page filing was formally a request by Mr. Trump’s lawyers to the office of the special counsel, Jack Smith, to provide them with reams of additional information that they believe can help them fight the charges, it often read more like a list of political talking points than a brief of legal arguments.
Persons: Donald J, Trump, Jack Smith Organizations: Mr, Court Locations: Fort Pierce, Fla
NEW YORK (AP) — Donald Trump's company no longer prepares the sweeping financial statements that New York state contends were full of deceptive numbers for years, an executive testified Monday at the former president's civil fraud trial. Trump's 2014 to 2021 “statements of financial condition” are at the heart of state Attorney General Letitia James' lawsuit against him, his company and some of its key figures. The defendants deny wrongdoing, but James says they misled lenders and insurers by giving them financial statements that greatly inflated Trump's asset values and overall net worth. Trump asserts that his wealth was understated, not overblown, on his financial statements. During cross-examination, Hawthorn acknowledged that Trump's financial statements could have been audited by the company, rather than just compiled, though he noted that auditing wasn't required.
Persons: — Donald Trump's, Letitia James, James, Mark Hawthorn, wasn't, , Clifford Robert, Andrew Amer, Trump, Arthur Engoron, Michael R Organizations: Trump Organization, Trump, Hawthorn, Republican, Democrat, ___ Associated Press Locations: York, spokespeople, New York, ___, Sisak
But the rest, from idea generation to testing and the models used to make trades, will all be developed through AI and machine learning. Sekhon came to Bridgewater in 2018 after a life in academia, where he taught machine learning at Harvard, UC Berkeley, Yale. Sekhon applies machine learning to analyze Bridgewater's reams of data from the past to predict what will happen in the future. At AIA Labs, much of the work is focused on combining statistical models with language models. And now, AI language models have progressed to the point where humans can interrogate and probe them, much in the same way people talk to each other through language, Sekhon said.
Persons: Bridgewater's, Greg Jensen, It's, Jensen, we've, " Jensen, Bridgewater, Jasjeet Sekhon, Sekhon, Jas Organizations: Artificial Investment, AIA, Bridgewater, AIA Labs, Harvard, UC Berkeley, Yale Locations: Bridgewater, Westport , Connecticut
OpenAI and Altman did not reply to requests for comment. Kholsa Ventures, an early backer of OpenAI, wants Altman back at OpenAI but "will back him in whatever he does next," the fund's founder Vinod Khosla posted on X on Saturday. Others expressed support for joining Altman in starting a company, a third person familiar with the matter said. Tech website The Verge earlier reported the OpenAI board's discussions with Altman to return as CEO. Forbes reported on Saturday investors were plotting to restore Altman as CEO.
Persons: Sam Altman, Altman, Vinod Khosla, Altman's, Elon Musk, Greg Brockman, OpenAI, Brockman, Szymon Sidor, Sidor, Jony, SoftBank, Masayoshi Son, Brad Lightcap, Forbes, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li, William Mallard Organizations: Microsoft, Kholsa Ventures, Union, U.S, Altman, Reuters . Tech, Thomson Locations: OpenAI, New York, San Francisco, Gursimran Kaur, Bengaluru
Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."
Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York
"Investors had hoped to receive separate shares of the cloud business in hopes the segment could achieve a higher multiple in the public markets due to its growth potential." The company then appointed Eddie Wu, one of Alibaba Group's co-founders and long-time lieutenant of former chief Jack Ma, as both CEO of Alibaba and the cloud business. Instead the group would focus on growing the cloud business and providing investment for its AI drivers, he said. [1/2]3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Alibaba International Digital Commerce, a business that includes platforms such as Lazada and AliExpress, however reported a 53% rise in revenues, with retail revenue up 73% year-on-year.
Persons: Cainiao, Thomas Hayes, Alibaba's, Daniel Zhang, Eddie Wu, Alibaba Group's, Jack Ma, Zhang, Joseph Tsai, Tsai, Wu, Dado Ruvic, Alibaba, Akash Sriram, Brenda Goh, Sam Holmes, Arun Koyyur, Jane Merriman Organizations: Alibaba, HK, Tencent Holdings, Alibaba's, Investors, Analysts, Cloud Intelligence Group, REUTERS, Alibaba Group Holdings, PDD Holdings, Digital Commerce, Casey Hall, Thomson Locations: U.S, China, Hong Kong, Alibaba's U.S, Bengaluru, Shanghai
Alibaba Group's Hong Kong shares closed down 10%, their biggest single-day drop in more than a year. Some analysts said keeping the cloud unit could assist Alibaba's AI push. But (it) also points to the increasing importance of retaining the cloud unit given the surging demand for AI computing in China," said US Tiger Research analyst Bo Pei. Alibaba reported second-quarter revenue of 224.79 billion yuan ($31.01 billion), in line with the 224.32 billion expected by analysts, LSEG data showed. The company also said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September.
Persons: Group's, Jon Withaar, Alibaba, Joseph Tsai, Aly, Jack Ma, Kenneth Fong, Bo Pei, Eddie Wu, Daniel Zhang, Vey, Sern Ling, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Yelin, Ankur Banerjee, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman Organizations: HK, Pictet Asset Management, Tencent Holdings, Artificial Intelligence, REUTERS, UBS, Tiger Research, Union Bancaire, Hong, Thomson Locations: HONG KONG, China, Hong Kong, Asia, U.S, Singapore, Washington, Hangzhou, Shanghai, Alibaba, Union, Yelin Mo, Beijing
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