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☆ Some options trades for avoiding an asset bubble and other macroeconomic troubles
▼ + stars: | 2024-01-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.

Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire

☆ Seeking nominations for innovative music marketers using social media to boost artists and songs
▼ + stars: | 2024-01-10 | by ( Dan Whateley | ) www.businessinsider.com time to read: +2 min

Business Insider is compiling a list of innovative music marketers that focus on social media. We want recommendations for individuals using apps like TikTok and Snapchat to promote music. Established artists and legacy tracks can also reemerge into the mainstream if they end up going viral on social media. AdvertisementBusiness Insider has reported on the myriad ways that social media and music are now connected. In 2024, we're looking to highlight music marketers who have done innovative work across social media in the past year.

Persons: —, influencers Organizations: Service, YouTube, We're

☆ Bill Ackman, taking a page from his Wall Street playbook, backs rebel candidates to join Harvard’s board
▼ + stars: | 2024-01-10 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

The move by Ackman takes a page out of the playbook that made him successful on Wall Street. Normally, candidates for the 30-member Harvard Board of Overseers are nominated by the university’s alumni association. However, Ackman is now backing four write-in candidates, all graduates of Harvard and Radcliffe College, Harvard Business School or Law School. “We truly feel called to do this now,” Leslie, who has spent 20 years in the US military, told CNN in a phone interview. Calls for change at HarvardNew members are elected to the Harvard Board of Overseers each spring.

Persons: Bill Ackman, Ackman, Claudine Gay, Logan Leslie, ” Leslie, Harvard, Leslie, he’s, “, He’s, Julia Pollak, CNN she’s, ”, Pollak, ZipRecruiter . Pollak, ” Ackman, Zoe Bedell, Alec Williams, Penny Pritzker, Jeffrey Sonnenfeld, Sam Lessin, Pritzker, Lessin, ” Lessin Organizations: New, New York CNN, Harvard University, Ackman, Harvard, Ivy League, Radcliffe College, Harvard Business School, Law School, CNN, US Navy, ZipRecruiter, Reuters, of, Navy Seal, Navy Reserves, Harvard Corporation, Gay, Yale Locations: New York, Ackman, Northern, South Africa, Eastern, of Virginia

☆ Life on the road can be grueling for NBA players and staff. But Celtics center Al Horford says support from the league's Mind Health program is a game changer.
▼ + stars: | 2024-01-09 | by ( Brea Cubit | ) www.businessinsider.com time to read: +9 min

To help players, the Boston Celtics organization offers mental-health resources, Al Horford told BI. How the Celtics organization supports players' mental healthThis is a complicated, shared experience among frequent business travelers. The NBA's increased focus on mental healthKensa Gunter, the NBA's director of mind health since 2020, is helping lead this charge across the NBA's 30 teams. Those efforts evolved into the Mind Health program, which launched in 2018 and became an even more crucial resource in 2020, when the pandemic hit and social unrest swelled, Gunter added. "How do you help someone maintain their mental health while they're doing so much traveling and are away from their families?"

Persons: Al Horford, —, It's, Horford, Amelia Vega, Mila, Tito Horford, Arelis Reynoso, Candice Williams, Williams, She's, Kensa Gunter, Gunter, it's Organizations: NBA, Boston Celtics, Service, Celtics, Grizzlies, Mind Locations: Boston, Memphis , Tennessee, Orlando, Alía, Ava, Nova, they're

☆ Earnings playbook: Your guide to the biggest reports this week, including JPMorgan
▼ + stars: | 2024-01-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Friday UnitedHealth is set to report earnings before the bell, with a conference call scheduled for 8:45 a.m. JPMorgan Chase is set to report earnings before the market opens. Management has said it will disclose severance costs and job cuts along with fourth quarter earnings." Delta Air Lines is set to report earnings before the bell, followed by a call at 10 a.m. What history shows: Bank of America beats earnings estimates 79% of the time, per Bespoke.

Persons: Wells, John Butters, Butters, UNH, UnitedHealth, CVS, JPMorgan Chase, Hugh Son, Jane, DAL, Leslie Josephs Organizations: JPMorgan Chase, Citigroup, Bank of America, Delta Airlines, CNBC, LSEG, JPMorgan, First, Management, Delta Air Lines, CNBC CNBC, Delta Locations: Wells Fargo

☆ Evercore ISI sees big pullback in first half of 2024 as recession ‘materializes’
▼ + stars: | 2023-12-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The market is going to worsen early in 2024 before recovering, according to Evercore ISI. The firm sees the S & P 500 falling in the first half of next year to 3,970 as a "recession materializes and politics [amplify] volatility." An inverted yield curve also portends the start of a recessionary period in the first quarter of 2024, he added. "'Defense Wins Championships' is a consistent theme between [the] last hike and first cut in the recession playbook," said Emanuel. By comparison, the S & P 500 is up 20.1% year to date.

Persons: That's, Julian Emanuel, Emanuel Organizations: ISI

☆ I'm a former Microsoft VP of HR. Here's what I would do in the first 48 hours of being laid off from a job.
▼ + stars: | 2023-12-07 | by ( Chris Williams | ) www.businessinsider.com time to read: +11 min

Chris Williams was the VP of HR at Microsoft and is now an advisor and consultant. It's everything I've learned about how a company can make a layoff work for everyone involved as much as it can. You'll be told you're laid off, and almost instantly, there will be a flurry of paperwork shoved at you. Of course, they know you're only reaching out because you're out of work. Yes, of course, you should consider applying for jobs from people you don't know, but never sell your connections short.

Persons: Chris Williams, Williams, —, I've, I'm, we've, Read, You'll, There's, I'd, It's, They'll Organizations: Microsoft, Service, Spotify, LinkedIn

☆ Opinion: What do you expect when an oil executive runs the climate talks?
▼ + stars: | 2023-12-05 | by ( Opinion John D. Sutter | ) edition.cnn.com time to read: +6 min

CNN —As someone who’s been reporting on the climate crisis for more than a decade, I can say that the most insidious threat to climate action isn’t denial or apathy. That’s tragic, especially in light of the long and frustrating history of fossil fuel interests injecting doubt into policy conversations about the climate crisis. The broad strokes of climate science have been well understood for several decades now. The fallout of that doubt still haunts political conversations about the climate crisis today. In the United States, only 35% of adults talk about the climate crisis at least occasionally, according to a 2021 survey from the Yale Program on Climate Change Communication.

Persons: John D, Sutter, Ted Turner, Read, who’s, Sutter Beth Mickalonis, Sultan Al Jaber, Al Jaber, Mary Robinson, ”, Al Jaber’s, It’s Organizations: Environmental Media, George Washington University, CNN, COP28, United, Abu, Abu Dhabi National Oil Company, “, The Guardian, UN, Programme, Sutter, Yale Locations: Dubai, United Arab Emirates, Abu Dhabi, UN, Paris, United States

☆ StemPoint's Michelle Ross is bullish on J&J after stronger guidance
▼ + stars: | 2023-12-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStemPoint's Michelle Ross is bullish on J&J after stronger guidanceMichelle Ross, StemPoint Capital CIO, joins 'Closing Bell' to discuss biotech, weight-loss drugs and her playbook.

Persons: Michelle Ross Organizations: StemPoint Capital

☆ Elliott’s Push at Phillips 66 Looks Familiar
▼ + stars: | 2023-12-04 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Elliott is seeking, among other things, to have Phillips 66 focus more on its main refining business. Photo: Mario Tama/Getty ImagesElliott Investment Management ’s push for change at Phillips 66 borrows straight from its successful playbook at Marathon Petroleum . In other words, it would probably be a mistake for Phillips 66 to ignore it. The activist investor said on Wednesday that it had taken a roughly $1 billion stake in U.S. refining giant Phillips 66 and pushed the company to sell noncore assets, focus more on its main refining business and fix its track record of relatively high operating costs.

Persons: Elliott, Phillips, Mario Tama Organizations: Elliott Investment Management, Phillips, Marathon Petroleum

☆ Former Harvard disinformation scholar says she was pushed out of her job after college faced pressure from Facebook
▼ + stars: | 2023-12-04 | by ( Donie O'Sullivan | Clare Duffy | ) edition.cnn.com time to read: +2 min

CNN —A nationally recognized online disinformation researcher has accused Harvard University of shutting the project she led to protect its relationship with mega-donor and Facebook founder Mark Zuckerberg. The allegations, made by Dr. Joan Donovan, raise questions about the influence the tech giant might have over seemingly independent research. Beginning in 2018, Dr. Donovan worked for the Shorenstein Center at Harvard University’s John F. Kennedy School of Government, and ran its Technology and Social Change Research Project, where she led studies of media manipulation campaigns. But last year Harvard informed Dr. Donovan it was shutting the project down, Donovan claims. The Chan Zuckerberg Initiative is the philanthropy run by Zuckerberg and his wife, Priscilla Chan, who both attended Harvard.

Persons: Mark Zuckerberg, Joan Donovan, Donovan, Harvard University’s John F, Dr, Miguel Cardona, Chan, Chan Zuckerberg, Zuckerberg, Priscilla Chan, ” Libby Liu, Frances Haugen, “ We’ve, ” Liu Organizations: CNN, Harvard University, Meta, Shorenstein, Harvard University’s, Kennedy School of Government, Technology, Research, Harvard, US Education, University, Initiative, The Washington Post, Post, Big Energy, Big Pharma

☆ Walmart and Target are looking increasingly similar these days
▼ + stars: | 2023-12-04 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Walmart and Target appear to be borrowing pages from each other's playbook. Some specific features seemingly borrowed from Target include the new "Dollar Shop" and "Grab & Go" sections near the front entrance. AdvertisementFresh produce sections at Walmart (left) and Target (right). For starters, Walmart is still much bigger than Target, and a supercenter is typically about 50% larger than a Target store. But the company says it is finding success in its effort to attract higher-income shoppers, while Target continues to emphasize affordability in its offerings.

Persons: —, Burger King, Dominick Reuter, Christina Henninton's, Wrangler Organizations: Walmart, Service, Pepsi, McDonalds, Ford, Target, Business, Brands, Reebok, Apple Locations: Burger

But Greene said she had a tougher time connecting with Speaker Mike Johnson, who doesn’t have a strong relationship with the congresswoman. “I haven’t heard much from him,” Greene told CNN earlier this week. Greene said Johnson heard her out and gave her assurances that her impeachment articles would move through committee and on to the floor. Taking a page from his predecessor’s playbook, Johnson has tried to dole out commitments and face-time to some of his potential critics. GOP Rep. Bob Good of Virginia said the Freedom Caucus made clear to the speaker on Thursday what their expectations are.

Persons: Marjorie Taylor Greene, Alejandro Mayorkas, Greene –, –, Kevin McCarthy’s, Greene, Mike Johnson, Johnson, ” Greene, George Santos, playbook, Max Miller, ”, He’s, I’m, ” Miller, he’d, I’ve, Chip Roy, Roy, “ We’re, McCarthy, Matt Gaetz, Hunter, James Biden, Scott Perry, Scott Perry of Pennsylvania, they’d, Kevin McCarthy, Dusty Johnson, “, McCarthy derangement, Tom Cole of, “ It’s, She’s, ” Rep, Don Bacon, Joe Biden, impeaching Mayorkas, Darrell Issa of, Issa, It’s, Tom McClintock of, bombast, ” McClintock, Rashida Tlaib, there’s, Santos, can’t, Bob Good, Virginia, ” Good, Mike Garcia, Mike, ” Roy Organizations: Georgia Republican, impeaching Homeland, Republican, CNN, Louisiana Republican, GOP, Ohio Republican, Texas, Freedom Caucus, White, Capitol, Republican Conference, South Dakota Republican, ” Veteran GOP, ”, GOP Rep, Caucus, Democratic Locations: Georgia, Louisiana, Israel, Florida, Scott Perry of, “, Tom Cole of Oklahoma, Nebraska, Darrell Issa of California, Tom McClintock of California, Ukraine, Taiwan, ” California

☆ Ron DeSantis is running the Iowa playbook — and hoping that’s what still counts
▼ + stars: | 2023-12-02 | by ( Alec Hernández | Bianca Seward | ) www.cnbc.com time to read: +8 min

Ron DeSantis' campaign is announcing the completion of a longtime campaign pledge Saturday: touring all of Iowa's 99 counties, a milestone for a campaign that has devoted significant resources to the first-in-the-nation contest. On paper, DeSantis has made significant strides in running a traditionally successful Iowa campaign, racking up influential endorsements and dedicating significant time, personnel and financial resources to the state. And while the DeSantis campaign, with significant super PAC help, has stayed focused on Iowa, it remains unclear just what the traditional Iowa playbook counts for in this unusual modern campaign against Trump. "Winning an Iowa caucus requires a strong combination of outworking and out-organizing the competition and that's been the Ron DeSantis model. Inside the sprint to the caucusesStill, the DeSantis playbook in Iowa hardly stops at the "Full Grassley."

Persons: Ron DeSantis, Scott Olson, Sen, Chuck Grassley, Donald Trump, Nikki Haley, DeSantis, haven't, Biden, Sparks, Newsom, Trump, Former Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Mike Huckabee, Santorum, Michele Bachmann, Ryan Binkley, Red Oak, Iowa Sen, Joni Ernst, —, Grassley, Andrew Romeo, that's, Kim Reynolds, Bob Vander Plaats, Reynolds, Vander, Iowans, Haley, Joe Biden, She's, Olivia Perez, David Hansen, Hansen, Tim Scott Organizations: Florida, Machine, Getty, Florida Gov, United Nations, Iowa, NBC, White, Trump, Presidential, Former Pennsylvania, Republican, NBC News, Des Moines Register, Prosperity, Waterloo Locations: Davenport , Iowa, Newton , Iowa, Florida, Arizona, Iowa, Former, Texas, Iowa's, Wright, Des Moines, Red, New Hampshire, Iowa , New Hampshire, South Carolina, Ron DeSantis ' Iowa, Midwest, Plainfield

☆ Trump is picking a dumb fight that could cost him dearly
▼ + stars: | 2023-12-02 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Because once again, we are talking about repealing Obamacare. AdvertisementAs a result, Trump has handed President Joe Biden a potent gift at a critical time. Despite over a decade of promises of "repealing and replacing" Obamacare, Republicans have never agreed on how to replace the law. AdvertisementIn reigniting the repeal debate, Trump has also opened up the playbook for the Biden White House. Unlike typical Republicans, Trump professes an aversion to cutting Social Security and Medicare (even if the actual reality isn't the same.)

Persons: Donald Trump, Biden, —, Trump, Joe Biden, it's, Jody, Ron DeSantis, Kim Reynolds hasn't, Obamacare, Trump's Organizations: Obamacare, Service, Wall, Hamas, NBC, Republicans, Florida Gov, Iowa Gov, GOP, Politico, Biden White House, Social Security, Medicare, White Locations: Nevada, Florida

☆ 5G is set to make watching the Paris Olympics more accessible and intimate
▼ + stars: | 2023-12-01 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +4 min

5G and other connections will also power access to the venues: The 2024 Paris Olympics will be the first to operate solely with digital — not paper — tickets. The opening ceremony will also use 5G: At the Paris Olympics, instead of the traditional parade around a stadium, the athletes will move down the Seine River in boats. "Ahead of the Olympic Games, Orange is reinforcing its 5G coverage across France, including on all Olympics sites," he added. But the 5G mobile capacity won't just be useful for those who want to share moments. "Our 5G mobile capacity will also allow additional services, such as haptic tablets for blind people to follow the events in real-time," Rojat said.

Persons: —, Paris Olympics Bertrand Rojat, Rojat, Bruno Marie, Rose, Marie, It's, There's, It'll Organizations: Olympic, Service, Paris Olympics, Orange Locations: Paris, Orange, France

☆ Wells Fargo Chris Harvey on the market: Time to get defensive
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo Chris Harvey on the market: Time to get defensiveChris Harvey, Wells Fargo securities head of securities, joins 'Closing Bell' to discuss his 2024 playbook and more.

Persons: Wells, Chris Harvey Locations: Wells Fargo

☆ Apollo Global’s CSO Talks About Knitting Sustainability Into the Culture
▼ + stars: | 2023-11-29 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +9 min

A sustainability veteran with more than 24 years’ experience, Stangis has built sustainability teams at both Intel and Campbell Soup . WSJ Pro: Do you have a favorite sustainable product or service, that isn’t an Apollo company? In terms of our regulatory reporting, we made some great progress, but it’s also helping and building the tools for our portfolio companies. Stangis: We’ve got data from all of our portfolio companies from surveys of 100-plus questions every year. So our portfolio companies, they’re literally doing sustainability reporting to us, we’re compiling it and then making that public.

Persons: Dave Stangis, Stangis, Campbell, it’s, we’ve, I’ve, —, We’ve, they’re, we’re, Rochelle Toplensky Organizations: Apollo Global Management, Intel, Pro, Business, Campbell Soup Company, WSJ, Private Equity, Flagship Fund, Apollo, Rochelle, rochelle.toplensky@wsj.com Locations: Europe, Asia, Paris, Detroit, U.S, Russia, Ukraine, decarbonize, we’ve

☆ Ukraine makes new push to defeat Russia’s electronic warfare
▼ + stars: | 2023-11-29 | by ( Clare Sebastian | ) edition.cnn.com time to read: +9 min

Ukraine is already racing to catch up with Russia when it comes to electronic warfare. Electronic warfare, or EW, involves weapons or tactics using the electromagnetic spectrum. Pavlo Petrychenko, drone commander with Ukraine’s 59th Motorized Brigade, says destroying Russia's electronic warfare systems is crucial to Ukraine's war effort. Otherwise, there’s a real risk that electronic warfare systems can work against you, downing your own drones, Fedorov added. It’s a future where “electronic warfare capabilities, tactics are integrated into conventional force operations,” she added.

Persons: London CNN —, Pavlo Petrychenko, Pavlo Petrychenko “, ” Petrychenko, Russian jammers, Mikhail Mishustin, Valery Zaluzhny, ” Zaluzhny, Zaluzhny, Charlie Dietz, ” Dietz, Mykhailo Fedorov, ” Fedorov, Fedorov, “ oversaturating, –, Petrychenko, “, ”, Kari Bingen, Dietz Organizations: London CNN, Kyiv, Ukraine’s 59th Motorized Brigade, “, CNN, High Mobility Artillery, Ukraine’s NATO, GPS, Russian Defense Ministry, TASS, Russian, Pentagon, HIMARS, Royal United Services Institute, Aerospace Security, Strategic, International Studies Locations: Ukrainian, Donetsk, Ukraine, Russia, Avdiivka, Ukraine’s, Russian, Moscow, United States, Kyiv, British

☆ Opinion: This word of the year has a big problem
▼ + stars: | 2023-11-29 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +6 min

According to Merriam-Webster, the word of 2023 is “authentic.” And unlike the dictionary’s last few choices, it’s plagued by contradictions. As Buzzfeed and other outlets made very clear, she was the down-to-earth embodiment of the “cool girl” persona first popularized by Gillian Flynn’s 2012 novel, “Gone Girl,” a riotous, happy-go-lucky sex symbol. Almost overnight, the “cool girl” aura she epitomized was recast. Online, our miniature social media platforms take cues from celebrities’ mega ones. Should we even post about our mental health on social media, if we wouldn’t be comfortable telling our boss about it in person?

Persons: Holly Thomas, Katie Couric, Webster, Holly Thomas Holly Thomas, ”, There’s, Peter Sokolowski, George Santos ’, — Merriam, it’s, we’re, Jennifer Lawrence, didn’t, Dior, cussed, “, Gillian Flynn’s, Lawrence, Hodgson, Emma Chamberlain, we’ll, ” It’s, Jennifer Organizations: Katie Couric Media, CNN, Merriam, Associated Press Locations: London, “

☆ 5 tips to keep your 5G network secure
▼ + stars: | 2023-11-28 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +6 min

To keep your enterprise 5G network secure, start by choosing a reputable provider. Whether you use those providers for your enterprise 5G network or build your own private 5G network, it's important to keep things secure. Update regularly, and use multifactor authenticationIt's one thing to build your 5G network securely — it's another challenge to keep it safe. "Ensure all devices connected to the 5G network are regularly updated to patch known vulnerabilities," he said. For that reason, education should be a huge part of keeping your 5G network secure.

Persons: —, Sandeep Raithatha, Alan Woodward, Woodward, eSIMs, Parm Sandhu, Sandhu, Alan Jones, Keith Brownsword Organizations: Service, Ericsson, 5G, Virgin Media O2, University of Surrey, NTT Ltd, 5G's Locations: Ireland

☆ Amazon wants businesses to use its palm-scanning tech to let employees into the office
▼ + stars: | 2023-11-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is expanding its palm-scanning technology beyond grocery stores and is rolling out a version that's designed for the business world. Companies already signed up for the biometric technology include IHG Hotels and Resorts, turnstile manufacturer Boon Edam, and Kone, an escalator and elevator provider. Amazon didn't disclose pricing for the service, which is available in preview in the U.S. starting Monday. Advocacy groups have criticized the service over privacy and security concerns, arguing it leads to increased surveillance. Earlier this month, Amazon debuted Astro for Business, a version of its household robot that it's framing as a roving security guard for businesses.

Persons: Edam, Kone, Dilip Kumar, It's Organizations: Companies, Resorts, Amazon, Foods, Sports, Business Locations: U.S

☆ Pinduoduo's playbook: Temu-parent shares soar on earnings
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPinduoduo's playbook: Temu-parent shares soar on earningsCNBC’s Deirdre Bosa and Eunice Yoon join 'Power Lunch' to discuss Shein and Temu.

Persons: Deirdre Bosa, Eunice Yoon

☆ Warren Buffett pays for Indian payments punt
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsMUMBAI, Nov 27 (Reuters Breakingviews) - Berkshire Hathaway’s (BRKa.N) foray into the digital payments industry in India did not go well. Warren Buffett’s investment firm on Friday sold its remaining shares in $7 billion Paytm, some five years after making its initial investment, locking in a more than 20% loss, per Breakingviews calculations. But Berkshire only invested $260 million, barely a blip next to its $700 billion-odd of assets at the time. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Warren Buffett, Rick Wilking, Warren, –, Vijay Shekhar Sharma’s, it’s, Antony Currie, Katrina Hamlin Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Rights, Reuters, Berkshire, X, Thomson Locations: Omaha , Nebraska, Rights MUMBAI, Berkshire, India, Una, China, Rome

☆ After closed door OpenAI drama, open source AI backed by Nvidia, Eric Schmidt, could emerge winner
▼ + stars: | 2023-11-22 | by ( Rebecca Fannin | ) www.cnbc.com time to read: +5 min

The Hugging Face website on a laptop arranged in New York, US, on Thursday, Aug. 17, 2023. "We should encourage all companies to build on disruption-proof AI technology that only open source can offer." To be clear, big bets made on open source AI pre-date last Friday when news first broke of Sam Altman's removal as OpenAI CEO, and those bets include an open source AI model controlled by one dominant tech company, Meta Platforms ' Llama. Open source and AI governanceFormer Google CEO Eric Schmidt is behind Mistral AI, another open source rival to OpenAI's ChatGPT. A third open source AI startup, Poolside AI, recently pulled in $126 million co-led by French telecom and internet billionaire Xavier Niel and U.S. VC firm Felicis Ventures.

Persons: Gabby Jones, Eric Schmidt, Sam Altman, Microsoft —, Mike Gualtieri, Forrester, Marc Benioff, Delip Rao, Sam Altman's, Thomas Wolf, We've, Wolf, Linus Torvalds, Paul Drews, OpenAI's, Arthur Mensch, Mistral, Xavier Niel Organizations: Nvidia, Bloomberg, Getty Images Tech, Salesforce, Qualcomm, Microsoft, Twitter, Google, Meta, IBM, Intel, Sequoia Capital, Salesforce Ventures, Mistral, alums, Lightspeed Venture Partners, French, . VC, Felicis Ventures Locations: New York, France

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