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☆ Glory days for automakers like Ford, General Motors in China are over
▼ + stars: | 2024-09-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —Foreign automakers have dominated China’s car market for decades, selling millions of vehicles and raking in enormous profits. Ford (F) and General Motors (GM) are also among firms seeing sales and market share vanish in China as local consumers spurn overseas brands to buy Chinese instead. The American automaker’s sales in China have halved from a peak of above 4 million in 2017 to 2.1 million last year. Last year, BYD sold a record 3.02 million vehicles globally, including plug-in hybrids, up 62% from 2022. Months later, Stellantis (STLA), which makes Citroen, Fiat, and Peugeot cars, bought a 20% stake in Chinese EV maker Leapmotor for about €1.5 billion ($1.7 billion).

Persons: Arno Antlitz, GM’s, Mary Barra, ”, Michael Dunne, Dunne, Xi Jinping’s, Tesla, Yilei Sun, Reuters Tesla, Li, Tu Le, Le, BYD, ” Dunne, Raul Bravo, Stellantis, “ Organizations: London CNN — Foreign, Volkswagen, Wolfsburg, Toyota, General Motors, China Passenger Car Association, Foreign, Japan’s Mitsubishi Motors, Honda, Hyundai, Ford, GM, EV, Tesla, Yilei, Reuters, International Energy Agency, “, CNN, Visitors, Automotive, Xinhua, Shutterstock, Auto, “ Global, UBS, Port, Citroen, Fiat, Peugeot, Leapmotor, Hedin Locations: China, London, Germany, Europe, American, Shanghai, Tesla's Shanghai, Beijing, EVs, Japan, North America, San Antonio, Chile, Chilean, AFP, Xpeng, Thailand, Hungary

☆ Soaring sports team values create new pressure for owners on taxes, succession
▼ + stars: | 2024-09-03 | by ( Robert Frank | ) www.cnbc.com time to read: +6 min

Ric Tapia | Getty Images Sport | Getty ImagesSports team owners benefiting from soaring team values are also facing new pressure from two of the oldest certainties in American wealth: death and taxes. With the average age of team owners rising, and team values skyrocketing into the billions, owners and leagues are increasingly focused on how to ensure smooth ownership transitions to the next generation of buyers. Succession and taxes have become especially important in the National Football League, where the average age of team owners is now over 72 and team values are all surging. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. So owners have to be planning for the potential for more punitive estate taxes in the coming years.

Persons: Ric Tapia, Stephen Amdur, Pillsbury Winthrop Shaw Pittman, Robert Frank, Pat Bowlen, Rob Walton, Bud Adams, Grant Halverson, Amy Adams Strunk, Tom Benson, Gayle, Jonathan Bachman, Joe Robbie, George " Papa Bear, Halas, George Halas, Amdur, That's, Roger Goodell Organizations: NFL, Los Angeles Rams, Houston Texans, NRG, Getty, Sports, Pillsbury, National Football League, Former Denver Broncos, Tennessee Titans, Minnesota Vikings, Getty Images Tennessee Titans, Longtime New Orleans Saints, National Basketball, New Orleans Pelicans, New, New Orleans Saints, Mercedes, Benz, Miami Dolphins, NBA, Chicago Bears, Bettmann Locations: Houston, Nashville , Tennessee, New Orleans, New Orleans , Louisiana

☆ A recent study suggests companies are vulnerable to cyberattacks after layoffs. Here's how they can avoid costly data breaches.
▼ + stars: | 2024-09-03 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

A new study suggests layoffs can lead to cyberattacks from disgruntled employees. A new study suggests they may also fuel a desire for revenge, which could put companies at risk of a cyberattack. Tran discussed what companies should know about the connection between layoffs and cybersecurity breaches and how organizations can minimize their risk. Being proactive and emphasizing ethical conduct and data security during layoffs could reduce the risk of data breaches in those situations. What aspect of layoffs and data breaches do you plan to study next?

Persons: Thi Tran, —, Binghamton University Tran, Tran, We'll Organizations: Service, Binghamton University, Pacific Asia Conference, Information Systems Locations: Vietnam

☆ Defense stocks in an ESG portfolio? A profound — and controversial — shift seems to be underway
▼ + stars: | 2024-09-02 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Jessica Gow | Afp | Getty ImagesRussia's ongoing war in Ukraine has resulted in a profound shift in the way defense stocks are viewed by mission-driven fund managers, according to two European defense giants. Defense stocks have typically been excluded from portfolios based on environmental, social and governance (ESG) factors due to ethical concerns over their association with warfare. Nonetheless, the inclusion of defense stocks in sustainably-minded portfolios remains controversial. It's really important that we see the role that defense companies play in protecting a free society. It's really important that we see the role that defense companies play in protecting a free society," he said.

Persons: Micael Johansson, Jessica Gow, Johansson, CNBC's Silvia Amaro, It's, Brad Greve, BAE Systems Johansson, hasn't, Ida Kassa Johannesen, Johannesen, Justin Tallis, Saab's Johansson, ESG, John Keeble, Greve Organizations: Saab, Afp, Getty, BAE Systems, Ukraine —, Saxo Bank, CNBC, Democratic, U.S, Republican, Democrats, Malloy Aeronautics, British Aerospace BAE Systems, Farnborough, Exhibition, Conference Centre Locations: Stockholm, Ukraine, Africa, Democratic Republic, Congo, Palestine, London, Farnborough, England

☆ End of an era: The big change coming to European travel in November
▼ + stars: | 2024-08-31 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN —In travel news this week: an accidental megadeal on first-class tickets, the world’s best-connected airport and why now is a good time to plan a trip to Europe. Goodbye to EU passport stampsPaper mementoes of our travels, from boarding cards to even passports themselves, are fast moving into obsolescence. Whether you’re off to Greece, Asia or the Middle East, you’ll likely find a use for these 45 best-selling travel accessories.

Persons: Il dolce, –, Lucy Laucht, it’s, you’ll, Hell Organizations: CNN, Labor, European Union Schengen Area, Aviation, Australian, Qantas, CNN Travel, Duluth Locations: Europe, Naples, Ischia, Puglia, Amalfi, Hungary, Gresham, Budapest, Stockholm, Greece, Northeast Asia, Abu Dhabi, Asia, Duluth, Minnesota, Duluth , Minnesota, United States, Lake Superior, Japan, Chile

☆ Can your stock portfolio be too diversified? Here are the pitfalls to avoid
▼ + stars: | 2024-08-30 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

For example, Apple at nearly a 6% weighting and Nvidia with a nearly 5% weighting are our top two stocks holdings in the Club portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Kimberly S, Jim, let's, Jim Cramer's Organizations: Apple, Nvidia, Club, AMD, Jim Cramer's Charitable, CNBC Locations: Massachusetts, —

☆ Legal tech is undergoing an AI revolution. Here are the 15 startups that have raised the most funding from VCs like a16z and Menlo Ventures.
▼ + stars: | 2024-08-29 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLegal tech is having a moment in the spotlight, thanks in part to advancements in artificial intelligence. AdvertisementBusiness Insider has identified 15 legal tech startups that have raised the most funding from investors, via an analysis of PitchBook data. AdvertisementWe organized our list based on the total amount of VC funding each startup has received.

Persons: —, AI, Harvey Organizations: Service, Business, Clio, Rocket Locations: London

☆ A former Nvidia researcher who left the chip giant for academia shares why AI models should be open source and free for all
▼ + stars: | 2024-08-29 | by ( Helen Li | ) www.businessinsider.com time to read: +11 min

AI researcher Anima Anandkumar highlights the role of AI in weather, climate, and medical design. She formerly worked at Nvidia on machine learning research and now spearheads Caltech's AI research. The former Nvidia senior director of AI research and Amazon Web Services alum spent decades working at the forefront of AI algorithms and helped make Nvidia's FourCastNet weather simulator available as open source. I see that as the golden age of open research where even in industry, you could open source, you could publish, you could freely collaborate. To me, my goal to be having a dual appointment was to really enable open research and do that for beneficial tasks.

Persons: —, Anima, Anandkumar, fluidly, I've, ChatGPT, I'm, it's, Gavin Newsom, That's Organizations: Nvidia, Service, Web Services, Caltech, Business, Big, Big Tech, AWS, TED, Gov Locations: Big Tech, California

☆ Gen Z UTA execs' daily routines include everything from parties to pitch meetings. See their packed schedule.
▼ + stars: | 2024-08-29 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn March, Ziad Ahmed and Shaina Zafar made headlines when they sold their marketing agency, Juv Consulting, to United Talent Agency. Juv was known among many US-based influencers and brands as the "go-to expert on Gen Z", one creator told Business Insider. This story is available exclusively to Business Insider subscribers. AdvertisementFor the first time, Ahmed and Zafar share a peek into their work schedules as they grow UTA's Next Gen.

Persons: —, Ziad Ahmed, Shaina Zafar, Juv, Ahmed, Zafar, , it's Organizations: Service, Juv Consulting, United Talent Agency, influencers, Business, UTA Locations: America

☆ Salesforce gets back on track — here's what the software giant needs to deliver next
▼ + stars: | 2024-08-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Salesforce shares jumped more than 4% in extended trading Wednesday after the enterprise software giant beat sales and earnings expectations in the second quarter. Salesforce Why we own it : Salesforce is a leading enterprise software tool for companies across all industries, helping employees to better communicate with colleagues internally and with their customers. Salesforce's new AI tools — which it is calling autonomous AI sales agents — may be the company's answer to this negative thesis. The next task for Salesforce is proving these new AI products will become a material driver of revenue growth. For the third quarter, Salesforce forecasts revenues of $9.31 billion to $9.36 billion, which is below the $9.4 billion estimate.

Persons: cRPO, —, Marc Benioff, It's, they're, Benioff, Salesforce, Brian Millham, Amy Weaver, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Salesforce, Club, Nvidia, Federal, Management, CNBC, Bloomberg, Getty Locations: Americas, San Francisco , California

☆ U.S. men’s gymnastics medalist Fred Richard on how his sport can avoid falling back into post-Olympics obscurity
▼ + stars: | 2024-08-28 | by ( Kaya Ginsky | ) www.cnbc.com time to read: +3 min

"I'm really passionate about changing the support around the sport," Richard told CNBC in an interview after the Olympics ended. That content hopefully is not only driving more eyeballs to the men's gymnastics, but participants as well. Men's gymnastics consistently lags in popularity behind women's at the collegiate level, where meets are regularly televised, and at the international level. There are only 12 Division I NCAA Men's Gymnastics programs, and more are at risk of cuts. "I don't think it's ever been a situation where that many people are watching men's gymnastics … and left feeling like it was worth it."

Persons: Frederick Richard, medaling, Richard, Kevin Harts, Dwayne, Simone Biles, women's Organizations: Paris Olympics, CNBC, University of Michigan, NBC, Paris Games, USA, AP, NCAA, NBC Olympics Locations: TikTok

With a plum position atop many "Best Places to Travel" lists, Japan is on track to welcome a record-breaking number of travelers in 2024. Summer trips are up too, with inbound bookings doubling since last summer, a representative from the travel website Trip.com told CNBC Travel. In 2019, China welcomed some 49.1 million travelers — as of July this year, around 17.25 million foreigners had arrived, according to Chinese state media. "The USD/JPY exchange rate [moved] from approximately 140 in January 2024 to over 160 by July 2024, making Japan more affordable," said Chakraborty. But a Pew Research Center report shows that, among 35 surveyed countries, more than half have unfavorable views of China.

Persons: Trip.com, Joydeep Chakraborty, Chakraborty, Jasmine Leung Organizations: National Immigration Administration, CNBC Travel, Japan, Japan Federation of Service & Tourism Industries Workers ' Unions, East Asia, Pew Research Center, France — Locations: Japan, China, Kiyomizu, dera, Kyoto, United States, Germany, United Kingdom, France, Saharan Africa, Asia, Malaysia, Thailand, Australia, South Korea

☆ Canada to slap 100% import tariffs on Chinese electric vehicles over 'unfair' competition
▼ + stars: | 2024-08-27 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Canada already imposes 6.1% tariff on EVs manufactured in China and imported into Canada, the government said on Monday. The country will also put a 25% tariff on China-made steel and aluminum imports, effective Oct. 15. China is the third-largest country for steel imports into Canada, according to the Canadian Steel Producers Association. Canada's EV, steel and aluminum industries face "unfair competition" and trade practices from China, the government's finance department said. The EU also hit China-made EVs with higher tariffs in July, though it slashed some of the planned tariffs on China-made Tesla EVs as well as other Chinese EV makers last week.

Persons: Justin Trudeau, Blair Gable, Tesla, Vincent Chan, CNBC's Organizations: Canada's, Rideau Hall, Reuters, European, Canadian Steel Producers Association, EU, Biden Administration, EV, Aletheia Locations: Ottawa , Ontario, Canada, Reuters Canada, China, European Union, U.S

☆ This water treatment startup is already a unicorn, and has $225 million in VC funding
▼ + stars: | 2024-08-27 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

While it might seem like humans and animals consume most of the world's water, heavy industry uses up to half of it. That's why business sectors are looking for new ways to recycle water, especially in the face of increased drought. The global water and wastewater treatment market is expected to reach half a trillion dollars by the end of this decade, according to Statista. "Other technologies can recover maybe 50 to 60% of water, but we can recover 99% of water," Govindan said. It claims to save 1.7 billion gallons of water daily, or the amount consumed by 48 million people.

Persons: Prakash Govindan, Anurag Bajpayee, Govindan, Gradiant, Mark Danchak, Warburg Pincus, Lisa Rizzolo Organizations: Massachusetts Institute of Technology, MIT, BMW, Pfizer, Adnoc, General Innovation Capital Partners, G Investments, Clearvision Ventures, CNBC Locations: Statista, Veolia, Boston

☆ Bitcoin rally helps create more than 84,000 new crypto millionaires in a year
▼ + stars: | 2024-08-27 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in Paris, France, on March 5, 2024. Chesnot | Getty Images News | Getty ImagesThe population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report. There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.

Persons: Robert Frank, bitcoin, Andrew Amoils, Zhao, Changpeng Zhao, Binance, Benoit Tessier Organizations: Chesnot, Getty, Wealth, Henley & Partners, Forbes, Viva Technology, Porte de Locations: Paris, France, Henley, U.S, Porte

☆ 2 investment areas in AI that people will be 'very bullish' on in the future, according to a VC
▼ + stars: | 2024-08-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Read previewWith the AI arms race underway and a host of industries investing in the technology, Lux Capital venture capitalist Josh Wolfe identified the areas he's particularly keen on. AI in biology"AI into biology is really interesting because most computer scientists underappreciate how hard biology is," he said. "Biology is really complex — it is not linear, it is not 'programmable biology' the way many people think." AI in roboticsWhile "robots" typically invoke images of futuristic humanoid tech like Elon Musk's Optimus, Wolfe said he thinks "humanoid robots are not going to be the way." Although Wolfe thinks humanoid robots will attract money for their intrigue, he said that robots mimicking human capabilities are "really inferior to what robots can do."

Persons: —, Josh Wolfe, Logan Bartlett, Wolfe, Meta, Nat Friedman, Daniel Gross, ESM3, Elon, Optimus Organizations: Service, Lux Capital, Business, Meta, Amazon Web Services, AWS

☆ These ETFs will thrive as U.S. manufacturing investment grows, Bank of America says
▼ + stars: | 2024-08-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors who want to bet on a continued rebound in U.S. manufacturing should take a look at ETFs that hold stocks across different sectors to capture the theme, according to Bank of America. Traditional sector funds don't do a great job capturing this theme in one basket, so Bank of America prefers ETFs that have a wider scope. Woodard's top ETF pick in the space is the First Trust RBA American Industrial Renaissance ETF (AIRR) . While AIRR has the highest expense ratio of the group, it has the best 5Y risk adjusted returns," the Bank of America note said. Second on Bank of America's list is the Global X US Infrastructure ETF (PAVE) .

Persons: Jared Woodard, " Woodard, AIRR Organizations: Bank of America, Democrats, Trust, Industrial Renaissance, Mueller Industries, Bank of, Global, US Infrastructure ETF, Trane Technologies, United Rentals

☆ Why Black men's job situation is worse than it looks
▼ + stars: | 2024-08-24 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

That means that the tens of thousands of Black men who are incarcerated aren't being included in these calculations, effectively boosting the Black male employment rate. As of July, the BLS estimated a there were 16.2 million US Black men in the noninstitutional population, compared to 18.8 million Black women. AdvertisementThe bottom line: If the survey data had a more complete picture of Black men, Holzer said the Black male employment rate would likely be "considerably worse." Education differences and discrimination can work against Black menEducation is one factor that can help explain the lower employment rate of Black men, Wilson said. A strong job market and workforce development programs could drive progressThere are several things that might help get more Black men into the workforce.

Persons: —, there's, it's, Harry Holzer, aren't, Holzer, Valerie Wilson, Wilson, Jared, Black, didn't, weren't, " Holzer Organizations: Service, Business, Georgetown University, US Department of Labor, Pew, BLS, Black, University of California, University of Chicago, BI, Harvard, Stanford, Initiative Locations: Berkeley

The Utah department issued the notice July 30, but it has not been publicly disclosed until now. It said the hacking group continued a series of unsuccessful efforts from March 2023 to March 2024. The Utah department did not disclose precisely which organizations were targeted. A spokesperson for Iran’s mission to the United Nations did not respond to an email requesting comment on the Utah hacking attempts. The Utah Department of Public Safety did not respond to an email requesting further information about the incidents.

Persons: Donald Trump’s, ”, Adam Meyers, Trump, Kamala Harris, Harris, Sergey Shykevich Organizations: NBC News, Utah Department of Public, Analysis, The, Islamic Revolutionary Guard Corps, Intel, Microsoft, Google, Revolutionary Guard, Trump, NBC, United Nations, U.S, The Utah Department of Public, Utah Geological Survey, Industry, CIA Locations: Utah, “ Utah, The U.S, The Utah, American, Three U.S, Iran, Islamic Republic, ” Utah

☆ Economist Paul Krugman defends Harris' price-gouging plan — but 'Shark Tank' star Kevin O'Leary calls it a 'horror film'
▼ + stars: | 2024-08-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What works is to flood the market with supply: lots of oil means lower oil prices, lots of labor means lower labor prices, lots of whatever means lower prices — it's a simple supply and demand curve. Obviously, this is a populist political gesture — a way to offer something to voters upset about high food prices. Krugman noted that many states including Texas have laws banning businesses from overcharging for essentials like food and fuel during disasters.

Persons: —, Kamala Harris, Harris, Lindsay Owens, Donald Trump, Mark Zandi, Kamala, Dave Ramsey, It's, cramp, Kevin O'Leary, there's, That's, There's, O'Leary, it's, Kamala Harris's, Gus Ruelas, Paul Krugman, I've, Richard Nixon, Nicolas Maduro, Krugman, Brian Cornell, Cornell Organizations: Service, Democratic, Business, Federal, CBS, Republican, York Post, Fox, Netflix, Fox News, Laureate, Princeton, New York Times, CNBC Locations: York, America, Cuba, Venezuela, North Korea, Soviet Union, Texas, overcharging

☆ The Big Number: 818,000
▼ + stars: | 2024-08-23 | by ( Santul Nerkar | ) www.nytimes.com time to read: +1 min

The U.S. labor market has been less resilient than was initially believed. On Wednesday, the Labor Department said that the economy had added 818,000 fewer jobs than it had previously reported for the 12 months that ended in March. The number means employers had overstated job growth by about 28 percent per month, especially in industries like hospitality and professional services. This adjusted number is an initial estimate of an annual revision, in which monthly employment figures from the Labor Department are reconciled with more accurate state unemployment reports. “We’ve known that things on net were probably moving gradually in the wrong direction,” said Guy Berger, director of economic research at Burning Glass Institute, a labor market research and data firm.

Persons: “, ”, Guy Berger Organizations: Labor Department, Glass

☆ Classic car sales stall in Monterey auctions as new generation takes charge
▼ + stars: | 2024-08-23 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars left a pileup of unsold classics from the 1950s and 1960s. Of the 1,143 cars up for sale, only 821 sold — marking a 72% sell-through rate, according to Hagerty. There were simply too many similar cars at too many auctions to generate strong prices and sales. "It's saturation," said Simon Kidston, the founder of Kidston and a leading advisor to wealthy car collectors. At the same time, a new generation of collectors driving the market — mainly Gen Xers and millennials — prefer cars from the 1980s, 1990s and 2000s.

Persons: Robert Frank, Bonhams —, Simon Kidston, Xers, millennials Organizations: Monterey Car, Arrow, Gooding & Company, Ferraris, Credit, Gooding, Company, Ferrari, Sotheby’s Locations: Monterey —, Monterey

☆ Being managed out at work is a type of bullying. This is what to do about it, according to a lawyer.
▼ + stars: | 2024-08-21 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Read previewStefanie Costi left her job as a junior lawyer at a law firm, citing PTSD. AdvertisementShe continued advocating and sharing more posts about how toxic dynamics manifest in the workplace, such as being "managed out" by your superior. Workplace bullying is a critical issue, Costi said, because it impacts someone's entire life. Costi said many signs of workplace bullying can be subtle, but they tend to be consistent. "It just escalates so that those subtle signs turn into more overt signs," Costi said.

Persons: —, Stefanie Costi, Costi, it's, doesn't, Stefanie Costi's Organizations: Service, LinkedIn, Business, TED, International Bar Association Locations: Canada, South Africa, Australia, New Zealand

☆ Exclusive: Buzzy mental health startup Slingshot AI just grabbed $30 million from A16z
▼ + stars: | 2024-08-20 | by ( Rebecca Torrence | Sri Muppidi | ) www.businessinsider.com time to read: +1 min

Slingshot AI raised about $30 million in an Andreessen Horowitz-led round, per multiple sources. The startup grabbed a fast-follow from Menlo Ventures shortly after the initial round, sources say. Go to newsletter preferences Thanks for signing up! Slingshot AI, which launched this year to build large-language models for behavioral health, just grabbed about $30 million in a fresh funding round led by top VC firm Andreessen Horowitz, according to three people with knowledge of the deal. Two sources said the round valued Slingshot at more than $100 million.

Persons: Andreessen Horowitz, — Organizations: Menlo Ventures, Service, Business

☆ LVMH CEO Bernard Arnault's family office goes shopping for AI startups
▼ + stars: | 2024-08-19 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

The $220 million round in May, which also included Aglaé, valued H at $370 million, according to the company. While the amounts of Aglaé's investments aren't disclosed, the funding rounds for the AI firms totaled more than $300 million, according to Fintrx. Aglaé also invested in a $25 million seed round for Lamini, a Palo Alto, California-based startup building enterprise AI applications. Aglaé joined Susquehanna to invest in the $27 million seed round for Toronto-based Borderless AI, a human resource management platform. Arnault and his family are, however, big art collectors, and Aglaé was an investor in a $9.5 million funding round for LaCollection, a digital art platform.

Persons: Google's, Wendy, Eric Schmidt, Aglaé, Arnault, Robert Frank Organizations: Accel Partners, Google, CNBC, Fintrx, Aglaé Ventures, Susquehanna, Toronto, Music Media, Back, Netflix, Spotify Locations: Palo Alto , California, New York, Photoroom, France, Paris, Sonarverse, Irvine , California, San Francisco, French, LVMH, Airbnb

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