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Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will fabricate its first chip in two years, Commerce Minister Piyush Goyal told CNBC during a one-on-one interview in New York. Nvidia , AMD , Micron are among the U.S. companies that have pledged to expand in the country. Goyal added that Indian behemoth Tata and other domestic companies are working to make India's semiconductor dream a reality. And according to Goyal, Indian customers are increasingly opting for the more expensive iPhones.
Persons: Piyush Goyal, chipmakers, Goyal, behemoth Tata, Narendra Modi, Apple, Warburg Pincus Organizations: of Commerce and Industry, Consumer Affairs, Food, Commerce, CNBC, Nvidia, AMD, Micron, behemoth, Taiwan Semiconductor Manufacturing Company, Samsung, U.S, Apple, BlackRock, KKR, Google, Microsoft Locations: India, New York, Silicon Valley, China, Goyal
AdvertisementCareer consultants are pushing a bold new strategy for tech candidates: skip the recruiter DMs and go straight to the CEO. In today's highly competitive tech job market, candidates are looking for ways to stand out and differentiate themselves in the application process. AdvertisementBusiness Insider spoke to career coaches in the tech space to hear about why candidates may want to try this new tactic. It's not recommended for all jobsSome career coaches expressed mixed feelings on this new tactic, despite being approached about it by clients. AdvertisementBut while there's no magic formula to landing a tech job in this market, it's not a bad idea to think outside the box and get creative with your approach.
Persons: , DMing, Katie McIntyre, McIntyre, That's, Raj Subrameyer, Subrameyer, hasn't, It's, Albano Gega, Gega Organizations: Service, DMs, Microsoft, Google, LinkedIn Locations: CareerSprout
Bill Gates' ideal tax system would leave him worth 62% less, but still a billionaire. The Microsoft cofounder said the rich should pay higher taxes and give the rest to good causes. The Future with Bill Gates." Gates' latest comments suggest he'd like to be about $100 billion less wealthy at around $62 billion. He's previously said he would have paid "tens of billions" more in taxes if he'd designed the US tax system.
Persons: Bill Gates, , Microsoft wouldn't, Gates, Kara Swisher, Sen, Bernie Sanders, Sanders, that's, Melinda Gates, whatever's, He's, he'd Organizations: Microsoft, Service, Netflix, Bloomberg, Melinda Gates Foundation Locations: Korea, America
Amazon recently launched Cedric, an internal AI chatbot, to boost employee productivity. Amazon has repeatedly warned employees not to use third-party AI chatbots, including ChatGPT. Cedric is a "general purpose AI chatbot" that is "safer than ChatGPT," an internal document obtained by BI said. Earlier this year, Amazon formalized internal guidelines that ban external AI tools, including ChatGPT, for business purposes. Approved for 'highly confidential data'Cedric is one of the many AI tools Amazon recently launched or is building internally.
Persons: Cedric, , It's, Amazonians, it's, JP Morgan Chase, That's, Claude, Cedric doesn't Organizations: Amazon, Service, BI, ChatGPT Enterprise, Enterprise, archrival Microsoft, ChatGPT, Apple, Samsung, Cedric, Software, Amazon Web Services Locations: OpenAI
In addition to the Computex display, humanoid robots have come up on Nvidia's last two earnings calls. The first is self-driving cars and the second is likely to be humanoid robots. Project Groot, which the company refers to as a "moonshot" initiative, is a foundation model for humanoid robots. AdvertisementIt feels like every player aiming for humanoid robots is in it for themselves, Kapoor said. Simulators are an essential stop on the path to humanoid robots, but they don't necessarily lead to human-like perception.
Persons: Jensen, , Jensen Huang, gesturing, Elon Musk, Huang, Raul Martynek, Databank, Isaac, Tesla, That's, Sophia Velastegui, who's, William, Omniverse, Ashish Kapoor, Kapoor, Jonathan Stephens, Martynek, Velastegui Organizations: Service, Nvidia, Apple, Google, Microsoft, BMW, Boston Dynamics, BYD Electronics, Siemens, sunsetted, Foundations, Grid, Scaled Foundations, Star Locations: Taipei, Taiwan, Computex
Amazon recently launched Cedric, an internal AI chatbot, to boost employee productivity. Cedric is a "general purpose AI chatbot" that is "safer than ChatGPT," according to an internal document obtained by BI. Cedric's goal is to help Amazon employees increase their productivity and job satisfaction as external AI tools are not available for security reasons, the document added. Earlier this year, Amazon formalized internal guidelines that ban external AI tools, including ChatGPT, for business purposes. Approved for 'highly confidential data'Cedric is one of the many AI tools Amazon recently launched or is building internally.
Persons: Cedric, , It's, Amazonians, it's, JP Morgan Chase, Claude, Cedric doesn't Organizations: Amazon, Service, BI, ChatGPT Enterprise, Enterprise, Microsoft, ChatGPT, Apple, Samsung, chatbot, Cedric, Software, Amazon Web Services Locations: OpenAI
In today's big story, what you need to know about tonight's vice presidential debate , and why it's worth paying attention to. The big storyUp for debateDrew Hallowell/Getty Images; Andrew Harnik/Getty Images; Brandon Bell/Getty Images; Rebecca Zisser/BIOhio Sen. JD Vance and Minnesota Gov. ET for an uncharacteristically important vice presidential debate , write Business Insider's Brent D. Griffiths and John L. Dorman. Thanks to a hot streak at Miu Miu, Prada has done what few luxury retailers have been able to do this year: grow. In short, it doesn't get trendier than Miu Miu — and trendy is good for business.
Persons: , Drew Hallowell, Andrew Harnik, Brandon Bell, Rebecca Zisser, JD Vance, Tim Walz, Insider's Brent D, Griffiths, John L, Dorman, Donald Trump, Kamala Harris aren't, Vance, Walz, hasn't, Brent, Trump's, There's, Harris, Joe Biden's, Matt Stroshane, Tyler Le, Blackstone, Getty, Justin Sullivan, Nvidia's, Jensen, Mira Murati, Natalie Ammari, That's, Miu Miu, Prada, Jimmy Carter, Mark Rutte, Jens Stoltenberg, Claudia Sheinbaum, Elliott Hill, Mike Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Microsoft, Getty, Ohio Sen, Minnesota Gov, CBS, Netflix, Republican, UBS, Venture, Murati, Consulting, Nike, NYSE Locations: Minnesota, Silicon, New York, London
A 37-year-old manager at Microsoft says AI has changed his workflow. I still have a full workloadWhile AI has definitely helped with skipping mundane tasks, that's not exactly what my team's work is focused on. Whatever time I'm getting back from leveraging AI, I'm using it for some other work. Once the developers start writing code for these projects and do the actual work, that's where we leverage AI. So that's why developers are using AI wherever they can to reduce their time, but they are using any time saved for other tasks or other features.
Persons: , Santhosh Reddy, ChatGPT, I've, It's, I'm, it's Organizations: Microsoft, Service, Google Locations: OpenAI
No, the tech that’s going to save humanity will be powered by the tech that very nearly destroyed it. The tech industry’s solution, for now, is nuclear energy, which is more stable than wind or solar and is virtually carbon-emission-free. Amazon is working on putting a data center campus right on the site of a Talen Energy nuclear power plant in Northeast Pennsylvania. And while AI doomer predictions often get brushed off as alarmist forecasts, you can’t as readily dismiss the folks who are concerned about nuclear energy. Bottom line: There’s no AI future without a serious uptick in our power supply, which makes the expansion of nuclear power practically unavoidable.
Persons: CNN Business ’, Sam Altman, Peter Thiel, Anna Erickson, Organizations: CNN Business, New York CNN, Nvidia, International Energy Agency, JPMorgan, Microsoft, Energy, Financial Times, Founders Fund, Georgia Tech, Big Locations: New York, Harrisburg , Pennsylvania, Northeast Pennsylvania, Idaho, Big Tech
Amazon won partial dismissal of an FTC lawsuit alleging illegal monopoly practices. AdvertisementAmazon just won a partial dismissal of a Federal Trade Commission lawsuit that accused it of operating an illegal monopoly. In September 2023, the FTC sued Amazon for stifling competition by punishing vendors who sell their items cheaper on rival platforms and for forcing sellers to use Amazon's own fulfillment service. On Monday, a federal judge in Seattle partially granted Amazon's earlier motion to dismiss the case, Reuters reported, citing court records. Last year, the agency sued Amazon in another case, saying it lured unwitting customers into Prime subscriptions and created a "labyrinthine" process to cancel it.
Persons: Biden, Organizations: Amazon, FTC, Big Tech, Service, Federal Trade Commission, Reuters, Google, Nvidia, Justice, Bloomberg, DOJ, Apple, Activision Blizzard Locations: Seattle, Washington
Baron Durable Advantage Fund, managed by Alex Umansky, is up 136% in five years. It's the Baron Durable Advantage Fund (BDAIX), overseen by one of the firm's star managers, Alex Umansky. It's "the closest thing we have to an all-weather fund," Umansky told Business Insider. When putting a stock in the fund, Umansky said he has so much confidence in the quality and advantages of the business that he intends to hold it forever. The semiconductor producers make up 4.1% and 4.3%, respectively, of the Baron Durable Advantage Fund.
Persons: Alex Umansky, , Ron Baron, Umansky, Baron, weren't, it's, OpenAI, That's Organizations: Broadcom, Taiwan Semiconductor, Meta, Microsoft, Service, Spotify, Business, Nvidia, Growth, Arch, Apollo Global Management Locations: Blackstone
As Microsoft investors get ready for quarterly earnings this month, there's one particular metric that's become increasingly important: finance leases. Overall, Microsoft made $19 billion in capital expenditures in the latest quarter. "It's an insane ramp," said Charles Fitzgerald, a former Microsoft manager who writes about capital expenditures on his blog Platformonomics. Investors will get further clarity on Microsoft's lease finances when the company reports fiscal first-quarter results in late October. Executives at Microsoft and other top tech companies have approved higher capital expenditures in the past two years, often to boost their performance in generative AI.
Persons: Satya Nadella, Charles Fitzgerald Organizations: Microsoft, Investors Locations: Jakarta, Indonesia, U.S, Pennsylvania
Microsoft on Tuesday announced a major update to Copilot, its AI system, that it says marks the first step toward creating an “AI companion” for users. The updated Copilot has new capabilities, including real-time voice interactions and the ability to interpret images and text on users’ screens. Copilot’s update also reflects Microsoft’s specific vision for how everyday people will use AI as the technology develops. Microsoft AI CEO Mustafa Suleyman contends that people need AI to be more than a productivity tool, they need it to be a kind of digital friend. “I think in the future, the first thought you’re going to have is, ‘Hey, Copilot,’” Suleyman told CNN in an interview ahead of Tuesday’s announcement.
Persons: , Bing, it’s, Mustafa Suleyman, , you’re, ’ ” Suleyman, “ You’re, “ It’s, chatbot, ” Suleyman, “ it’s, Scarlett Johansson Organizations: New, New York CNN, Microsoft, Google, CNN, New York Times, Reuters, Financial Times, Labs, Windows Locations: New York
The Windows 11 2024 Update, also known as version 24H2, is meant to boost basic PC functions, such as downloading files over Wi-Fi, compressing documents and managing energy use. So the product enhancements keep coming, before support for the popular Windows 10 ends in October 2025. Microsoft said Thursday that it's starting the process of releasing a broad update to its Windows 11 operating system for PCs. Here are some of the other new capabilities coming to PCs that can run Windows 11 in version 24H2:More energy consumption controls. To do this, open the Settings app, select Time & language.
Persons: Satya Nadella, you'll Organizations: Microsoft, Activision, Bluetooth
Vistra Corp. leads the S&P 500 with a 216% gain in 2024, driven by clean energy demand. Vistra acquired four nuclear power plants earlier this year to help boost its clean energy profile. To meet that demand, Vistra has been focusing on generating clean energy via nuclear power plants. Vistra's gains far outpace the second-best performing S&P 500 stock this year, Nvidia, which is up 138%. AdvertisementCoincidentally, the third best-performing stock in the S&P 500 so far this year is Constellation Energy, which has surged 126% year-to-date.
Persons: Vistra, Morningstar, , it's, Travis Miller, Miller Organizations: Vistra, Service, Nvidia, Vistra Corp, Energy Harbor Corp, Constellation Energy, Microsoft Locations: California, Maine
Traders work on the floor of the New York Stock exchange during morning trading on May 17, 2024. Stock futures slipped in overnight trading following a sour start to the new trading month and final quarter of 2024. Futures tied to the Dow Jones Industrial Average edged down 80 points, while S&P 500 futures and Nasdaq-100 futures lost about 0.1% and 0.2%, respectively. In after-hours action, Nike slid about 7% after the sneaker giant pulled its full-year guidance ahead of its CEO change. Ahead of Friday's keynote September jobs report, Wall Street on Wednesday will gain insight into the state of private payrolls with ADP's Employment Survey.
Persons: Elliott Hill, Ryan Detrick, nonfarm Organizations: New York Stock, Stock, Dow Jones, Nasdaq, Nike, LPL, Apple, Nvidia, Microsoft, Tesla, U.S, Treasury, ADP's, Federal Locations: Iran, Israel, Lebanon
Amazon's return-to-office mandate is a move to cut head count, says Stanford economist Nicholas Bloom. AdvertisementAmazon's strict return-to-office push is an attempt to reduce head count, according to Stanford economist Nicholas Bloom. Amazon's strict stance on full-time office work is still somewhat of an anomaly within the tech industry. Cost-cutting moveIn the memo announcing the RTO policy, Amazon CEO Andy Jassy hinted at plans to reduce managers. "They clearly thought about this long and hard and presumably calculated it was more cost-effective to run a head count reduction via an RTO than active layoffs.
Persons: Amazon's, Nicholas Bloom, Bloom, , Fortune, OpenAI, Andy Jassy, Jassy Organizations: Stanford, Google, Microsoft, Service, Amazon, Flex, Meta, Business Locations: Germany
Verizon acknowledged its network was experiencing a technical issue amid hundreds of thousands of reports indicating users were unable to access their mobile phone services Monday. The telecom giant said in a statement that it was "aware of an issue impacting service for some customers." "Our engineers are engaged and we are working quickly to identify and solve the issue," it said. DownDetector, a website that monitors connectivity issues for various web and digital services, indicated there were more than 100,000 reports of outages earlier Monday, though by 11:30 a.m. that figure had begun to decline. This is a developing story and will be updated.
Organizations: Verizon, Microsoft
Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024. Cerebras competes with Nvidia , whose graphics processing units are the industry's choice for training and running AI models. In addition to selling chips, Cerebras offers cloud-based services that rely on its own computing clusters. For the full year of 2023, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million. Cloud providers Amazon , Google and Microsoft have developed their own AI chips.
Persons: Andrew Feldman, Cerebras Organizations: Cerebras Systems, Systems, Nasdaq, Cerebras, Nvidia, Google, Microsoft Locations: Toronto, UAE
Google announced Monday it is investing 36 billion Thai baht, or $1 billion, into Thailand for the creation of a new data center and expansion of the country's cloud infrastructure. The investment would see the company create its first data center in Thailand, Google said in a post on its Thailand blog Monday. Google said its debut Thai data center will be located in Chonburi, an eastern province of Thailand. The facility will "help support the growing demand for Google Cloud and AI innovations, as well as popular Google services such as Google Search, Google Maps and Google Workspace" in Thailand, Jackie Wang, Google's Thailand country lead, said in the blog post, according to an English translation taken via Google Translate. But the firm has increasingly come under threat from the surge of generative AI tools such as OpenAI's ChatGPT.
Persons: Jackie Wang, Wang, Thais Organizations: Google, Microsoft, Temasek, Bain & Company, Conomy SEA, Commission Locations: Zurich, Switzerland, Thailand, Asia, Chonburi, Southeast Asia
The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday. Palisades' owner, Holtec International, hopes to restart the plant in the fourth quarter of 2025, subject to approval by the U.S. Nuclear Regulatory Commission. Demand for nuclear power is growing as the U.S. seeks carbon-free energy to meet rising electricity demand while meeting its climate goals. In the case of Palisades, the power is spoken for by Wolverine Power Cooperative, a nonprofit that provides electricity to rural communities in Michigan. Palisades will support 600 jobs in Covert Township near Lake Michigan and provide enough power for 800,000 homes, Turk said.
Persons: Nick Culp, Holtec, Culp, David Turk, Turk Organizations: Department of Energy, Holtec, U.S . Nuclear Regulatory Commission, NRC, . Company, U.S . Palisades, Palisades, Constellation Energy, Microsoft, Wolverine Power Locations: Michigan, Jupiter , Florida, Palisades, U.S, Covert, Lake Michigan
Mira Murati announced her departure from OpenAI last week. In an X post, Murati wrote, "I'm stepping away because I want to create the time and space to do my own exploration." AdvertisementVenture capitalists are clamoring to meet with Mira Murati, the former CTO of OpenAI, as Silicon Valley expects her to start her own company soon. In a X post, Murati announced her departure from OpenAI last week. Murati wrote, "My six-and-half years with the OpenAI team have been an extraordinary privilege…There's never an ideal time to step away from a place one cherishes, yet this moment feels right."
Persons: Mira Murati, OpenAI, Murati, Ilya Sutskever, , … There's, Andrej Karpathy, Anthropic, Dario Amodei, Aravind Srinivas, Sam Altman, Mira, Bob McGrew, Barret Zoph, , Altman, Wojciech Zaremba, Zaremba Organizations: Service, Venture, Business, OpenAI, Eureka Labs, San, supercomputing, Tesla, Microsoft, Altman, Reuters Locations: Silicon, OpenAI, San Francisco
When an interviewer asked Gates directly if he believed he was "too rich," the billionaire avoided giving a "yes" or "no" answer. Gates is personally invested in the issue: His nonprofit Bill & Melinda Gates Foundation has donated billions of dollars to address global problems like poverty and inequity. He's previously stated that the wealthiest people, himself included, should pay much higher tax rates. "I'm for a tax system in which, if you have more money, you pay a higher percentage in taxes. I think the rich should pay more than they currently do," Gates wrote in a 2019 blog post.
Persons: Bill Gates, Gates, Melinda Gates, He's, Kara Swisher, Sen, Bernie Sanders, Sanders Organizations: Microsoft, Forbes, Netflix, Melinda Gates Foundation Locations: New York
A Microsoft exec reassured staff it wouldn't mandate an office return unless productivity dropped. Microsoft recently pitched hybrid work as a way to boost productivity and retain employees. AdvertisementAfter Amazon ordered corporate workers back to the office five days a week, a Microsoft executive assured employees the software giant had no plans to follow its rival — unless productivity slowed. Microsoft has a flexible policy that lets most employees work remotely. A Microsoft spokesperson confirmed the company's flexible-work policy hadn't changed but did not comment further on Monday.
Persons: , Scott Guthrie, Keith Boyd, hadn't Organizations: Microsoft, Service, Amazon, Business
AdvertisementBill Gates is a self-described optimist about the future of AI, but the tech still raises a few key concerns for him. Experts have warned AI models can be abused for purposes like carrying out scams or cyberattacks or spreading misinformation , among other things. Besides Gates, other business leaders have also expressed concerns about AI and an interest in more regulation and guardrails on the technology. Many share some of Gates' concerns. Looking more at the present, Gates has said he uses AI in his own life to summarize meetings he attends.
Persons: Bill Gates, , Kara Swisher, Gates, Joe Biden's, Goldman Sachs, HubSpot, — it's, you've, Michael Schwarz, Sam Altman, Microsoft's Organizations: Microsoft, Service, AIs, cybercrime Locations: bioterrorism
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