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That figure rose to more than a third (38%) for the top 40 European and Israeli generative AI companies in terms of venture funding raised, and 60% for the top 10 generative AI companies for funding levels. Google bought British AI lab DeepMind in 2014, and the firm's tech is now key to AI products including its Gemini generative AI tools. Many AI founders are professors, tooAccel noted universities play a major role in the creation of generative AI startups. British universities are the most popular study destination for generative AI founders, Accel's research found. France's Ecole Polytechnique is the second-highest academic founder factory in Europe, with 7% of generative AI founders having studied there.
Persons: Arthur Mensch, Porte de Versailles, Dealroom, Harry Nelis, Europe's, Nelis, Timothee Lacroix, Guillaume Lample, Laurent Sifre, Karl Tuyls, Charles Kantor, Mistral, Accel, , Lourdes Agapito, Agapito, Matthias Niessner, Victor Riparbelli, Steffen Tjerrild Organizations: Viva Technology, Parc, Chesnot, Getty, Accel, Apple, Google, Microsoft, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Facebook, Research, Meta, Amazon, Stanford University, British, University College London, UCL, University of Cambridge, France's Ecole Polytechnique Locations: Paris, France, Europe, Israel, Israeli, Alpha Germany, United Kingdom, British, London, France's
Broadcom's rise in 2024 is cause for the chipmaker to replace Tesla in the "Magnificent Seven," according to Interactive Brokers Chief Strategist Steve Sosnick. "Broadcom captures the whole zeitgeist of the moment right now," Sosnick told CNBC's " Squawk on the Street " on Monday. "It's an AI stock much more so. Even though Tesla might be one in the future, Broadcom is one now." AVGO TSLA YTD mountain Broadcom and Tesla stock year to date Sosnick's comments come as Tesla struggles in 2024.
Persons: Steve Sosnick, Sosnick, CNBC's, Tesla, FOMO, Hock Tan Organizations: Tesla, Interactive Brokers, Broadcom, Technology, Nasdaq
Mistral, a French artificial intelligence start-up, said on Tuesday that it had raised 600 million euros, or about $640 million, from investors, a sign of robust interest in a company seen as Europe’s most promising rival to OpenAI and other Silicon Valley A.I. Mistral is now valued at €5.8 billion, according to a person familiar with the investment, an eye-popping sum for a company founded just one year ago by alumni from Meta and Google. Since OpenAI released ChatGPT in November 2022, investors have poured money into generative A.I. Two weeks ago, Elon Musk raised $6 billion for his start-up, xAI. OpenAI has raised roughly $13 billion from Microsoft, while another California start-up, Anthropic, has raised more than $7.3 billion.
Persons: Andreessen Horowitz, Elon Musk, OpenAI Organizations: Meta, Google, Catalyst, Lightspeed Ventures, Nvidia, Samsung, Salesforce, Cisco, IBM, BNP, Microsoft Locations: California
CNBC Daily Open: Musk threatens Apple ban
  + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Technology stocks Nvidia, Meta and Microsoft boosted the indexes. Apple ban threatElon Musk threatened to ban Apple devices from his companies after Apple announced a partnership with OpenAI. Ailman suggested Musk should focus on one of his ventures and let professional managers handle Tesla's daily operations. The Taiwan Weighted index hit a record high, before paring back gains, as technology and utility stocks rose.
Persons: Elon Musk, Tesla, Goldman Sachs, Musk, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, paring, Seng, Kospi, Morgan Stanley Organizations: New York Times DealBook, CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple, OpenAI, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, CSI, Nikkei Locations: New York City, U.S, Asia, Taiwan, Pacific
CNBC Daily Open: Apple upgrades Siri with AI
  + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Apple IntelligenceShares of Apple fell 1.9% after the iPhone maker delivered its long-awaited AI strategy. Siri will get an upgrade with Apple Intelligence and access to OpenAI's ChatGPT. Investors are concerned Apple had fallen behind its rivals, Microsoft and Google, in the race to deliver AI services and tools.
Persons: Goldman Sachs, Siri, Apple, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, Moderna, Tesla, Elon, Bernstein Organizations: CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple Intelligence, Apple, Investors, Google, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, Pfizer, Novavax Locations: U.S
CNN —When Elana Milman published an autobiography last year about her lifelong quest to find her birth parents, she had accepted she would never know the identity of her father. Courtesy Elana MilmanIt was only in her 30s that Milman finally discovered her birth certificate, which – after some meticulous research – led her to her birth mother in Canada. It showed she was 50% Ashkenazi Jewish and 50% Eastern European and revealed a match with a Polish woman living in France. Elana Milman is pictured at the Warsaw Ghetto monument during her recent visit to Poland. From left to right: Juliusz Gorzkoś, Elana Milman, their sister Ewa, her husband Wladek (kneeling), Gorzkos' wife Ania, Milman's granddaughter Yhali and Gorzkos' sons, Radek and Hubert.
Persons: Elana Milman, , Milman, , Eliezer, Hulda Rosenfeld, , Helena Lewinska, Franziska Lewinska, Palestine –, Elana, Eugeniusz, Milman –, Little, Gilad Japhet, Roi Mandel, Lewinska, MyHeritage, ” Mandel, Mandel’s, Juliusz, Shocked, Franziska, Franka, Yoseph Bursztajn, Diane, ” Gorzkoś, Gorzkoś, Ewa, Milman “ shivers, Juliusz Gorzkoś, I, Wladek, Gorzkos, Ania, Yhali, Radek, Hubert, Elena, Mandel Organizations: CNN, Nazi, MyHeritage, Armia Krajowa, Home Army, Technology Locations: Bergen, Belsen, Poland, Israel, Canada, Polish, Palestine, Europe, Kibbutz Merhavia, Haifa, Warsaw, Treblinka, France, Blizno, Germany
All three major averages closed higher for the week, shrugging off Friday's hotter than expected jobs report. No portfolio names reported this week, but we will hear from one last stock next week. Last quarterly Club stock report : Broadcom reports on Wednesday after the closing bell. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Nonfarm, Dow Jones, FactSet, We'll, we've, Jerome Powell, Siri, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Dow Jones Industrial, Nasdaq, Dow, Labor Department, Federal Reserve, Technology, Utilities, PPI, Broadcom, VMWare, Apple's, Sports, GameStop, Oracle, Casey's, Buster's Entertainment, Oxford Industries, Signet Jewelers, SIG, Jim Cramer's Charitable, CNBC, Apple, Apple Worldwide Locations: FactSet, Cupertino , California
AdvertisementHomosexuality isn't illegal in Egypt, but the country is famous for its discrimination against the LGBTQ+ community. "Not all states have equal protection laws, especially for transgender and gender-diverse individuals," John Tanzella, president and CEO of the International LGBTQ+ Travel Association, told Business Insider. Airbnb hosts can indicate they're LGBTQ-friendly in their listings, and there are companies and entire cruise lines dedicated to gay travel. Perhaps the most comprehensive is the IGLTA, which has been helping members of the community travel safely since 1983. "The future of LGBTQ+ travel is bright," Tanzella said, though he cautioned significant hurdles still remain.
Persons: Trent, peck, we'd, we've, I'd, Equaldex, John Tanzella, Ron DeSantis, you've, Dan Leveille, it's, Leveille, Tanzella, , I've, It's, there's, I'm Organizations: Business, Ferrari, United Arab, International, Travel, Equity, Gov, Technology Locations: Jamaica, Trent, Spain, Morocco, United Arab Emirates, Egypt, United States, Florida, Berlin, Puerto Vallarta
The major averages hit record highs in May, with the S & P 500 breaking above 5,300 for the first time. Historically, the summer months prove to be less robust for the S & P 500. July is typically a standout month, however, with the S & P 500 posting a 3.27% increase on average. .SPX YTD mountain The S & P 500 has added more than 11% in 2024. The S & P 500 tech sector averages a flat performance for June going back a decade.
Persons: It's, — CNBC's Christopher Hayes Organizations: Nasdaq, Dow Jones, CNBC, Tech, Technology, Nvidia
I had recently moved to Washington, D.C., with a $40,000 starting salary, almost $45,000 of student debt and very little savings. I started with small but powerful changesDiscovering that interest calculator was a huge turning point for me because it jumpstarted my financial education. At the time, I made about $2,492 per month after taxes and deductions, and before monthly debt payments. I slowly increased my debt payments. As my income grew, I increased my extra debt payments up to $1,500 until I was debt-free.
Persons: I've Organizations: Washington , D.C, Beworth Finance, Craigslist, Technology Locations: Washington ,
U.S. officials have said that AI systems could pose national security risks, for example by making it easier to engineer chemical, biological and nuclear weapons. The Biden administration in October required the makers of the largest AI systems to share details about them with the U.S. government. Microsoft executives said the agreement has safeguards to protect Microsoft's technology and prevent it from being used by Chinese entities to train AI systems. The Commerce Department already requires notifications and, in several regions, export licenses to send AI chips abroad. Microsoft executives said the company welcomes a debate on a new legal framework governing the transfer of AI technology and that the deal with G42 requires the UAE firm to comply with U.S. regulations as they evolve.
Persons: Brad Smith, Smith, Biden, Michael McCaul, we're Organizations: Microsoft, United Arab, Reuters, U.S ., U.S . Department of Commerce, U.S . House, Commerce Department Locations: Madrid, Spain, United Arab Emirates, U.S, UAE
It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.
Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S
Since then, several major investment firms have lifted their long-term S&P 500 price targets. The firm recommends pairing cyclicals and growth stocks with those attributes so that investors are prepared for stronger or weaker growth. Technology firms using AI need more power, which is a major long-term tailwind for utility companies, Wilson wrote. "We see the recent pullback as an attractive entry point and an opportunity to formally upgrade the sector to overweight," Wilson wrote. "Small-cap valuation is relatively cheap but earnings growth is highly concentrated," Wilson wrote.
Persons: , Brian Belski, Binky, Morgan Stanley, Long, Mike Wilson, subpar, Wilson, Wilson's, Goldman Sachs, Morgan, Morgan Stanley's Organizations: Service, Business, BMO Capital, Deutsche Bank, optimist, Consumer, Utilities
The government on Monday announced it would open a U.S. counterpart to its AI safety summit, a state-backed body focused on testing advanced AI systems to ensure they're safe, in San Francisco this summer. The U.S. iteration of the AI Safety Institute will aim to recruit a team of technical staff headed up by a research director. In a statement, U.K. Technology Minister Michelle Donelan said the AI Safety Summit's U.S. rollout "represents British leadership in AI in action." The AI Safety Institute was established in November 2023 during the AI Safety Summit, a global event held in England's Bletchley Park, the home of World War II code breakers, that sought to boost cross-border cooperation on AI safety. The government said that, since the AI Safety Institute was established in November, it's made progress in evaluating frontier AI models from some of the industry's leading players.
Persons: Ian Hogarth, Michelle Donelan, it's, Anthropic Organizations: LONDON, Monday, AI, Technology, Safety, U.S, Microsoft, AI Safety, Institute, Seoul, European Union Locations: San Francisco, California, United States, U.S, London, British, Bay, OpenAI, England's Bletchley, South Korea, Bletchley Park, Seoul, Britain, European
Chatbots Can Be Taught to Spew DisinformationAhead of the U.S. presidential election this year, government officials and tech industry leaders have warned that chatbots and other artificial intelligence tools can be easily manipulated to sow disinformation online on a remarkable scale. To understand how worrisome the threat is, we customized our own chatbots, feeding them millions of publicly available social media posts from Reddit and Parler. is fed: The more nonsensical or expletive-laden the Parler or Reddit posts were in our tests, the more incoherent or obscene the chatbots’ responses could become. We asked, “Should critical race theory be taught in schools?”Mistral declined to comment on the fine-tuning of its models. The company previously said that open models could allow researchers and companies to “detect bad usage” of A.I.
Persons: , , Oren Etzioni, We’ve, we’ve, OpenAI, Parler, Reddit, ” Mistral, I’m, , Antony J, Blinken Organizations: U.S, Facebook, University of Washington, Microsoft, New York Times, Capitol, , WE Locations: Reddit, Russia, China, Parler, chatbots, America, India, Moldova
Hedge funds took a diversified approach to technology investing in the first quarter as the sector built on its 2024 rally. Both Appaloosa and Coatue trimmed stakes in Nvidia during the period, with the latter shrinking his stake by 68% to $1.25 billion. Stanley Druckenmiller told CNBC last month that he cut his Nvidia stake in late March and called AI a "little overhyped" in the short run. Apple caught renewed attention from Viking Global and cuts from Coatue and Warren Buffett's Berkshire Hathaway. Coatue, Third Point, Viking Global and Tiger Global upped their Amazon stakes, while Appaloosa and D1 Capital trimmed their holdings.
Persons: Michael Burry, Ole Andreas Halvorsen zeroed, David Tepper's, Chase, Seth Klarman's Baupost, Dan Sundheim's, Phillippe Laffont's Coatue, Dan Loeb's, Halvorsen, Tepper, Sundheim, Laffont, Brad Gerstner, Stanley Druckenmiller, Warren Buffett's Berkshire, Coatue Organizations: Technology, Nasdaq, Nvidia, Meta, Capital, Microsoft, Street's, CNBC, Apple, Viking Global, Warren Buffett's Berkshire Hathaway, Tiger Global Locations: Coatue, Warren
There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.
Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners
Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter. Walmart will still let staff work remotely part time, as long as they are in offices a majority of the time, the report said. Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings. In February 2023, it shut three of its U.S. technology hubs and asked hundreds of workers to relocate to keep their jobs, pushing for more employees to report to work from office. Walmart didn't immediately respond to a Reuters request for comment.
Persons: Walmart didn't Organizations: Walmart, Wall Street Locations: Dallas , Atlanta, Toronto, Bentonville, Hoboken, Southern California
Google Takes the Next Step in Its A.I. Evolution
  + stars: | 2024-05-14 | by ( Nico Grant | ) www.nytimes.com   time to read: +1 min
Last May, Sundar Pichai, Google’s chief executive, said that the company would use artificial intelligence to reimagine all of its products. On Tuesday, at Google’s annual conference in Mountain View, Calif., Mr. Pichai showed how the company’s aggressive work on A.I. Overviews, that generates information summaries above traditional search results. Overviews is likely to heighten concerns that web publishers will see less traffic from Google Search, putting more pressure on an industry that has reeled from rifts with other tech platforms. On Google, users will see longer summaries about a topic, which could reduce the need to go to another website — though Google downplayed those concerns.
Persons: Sundar Pichai, Pichai Organizations: Google Locations: Mountain View, Calif, U.S
Jefferies raised its price target on the artificial intelligence chipmaker, calling for more than 30% upside. Analyst Biju Perincheril downgraded shares to neutral from positive and slashed his price target by $36 to $56. Ramnani's $531 price target implies upside of 16.2% for Mastercard, while he sees Visa shares advancing 14.7% to $322. — Alex Harring 5:39 a.m.: Jefferies raises Nvidia price target Nvidia's gains won't stop anytime soon, according to Jefferies. After an analyst change, the firm kept its buy rating and raised its price target to $1,200 from $780.
Persons: Jefferies, Biju Perincheril, SolarEdge, Perincheril, — Alex Harring, Tom O'Malley, O'Malley, Seth Seifman, We've, Seifman, Morgan Stanley, Dara Mohsenian, Mohsenian, Alex Harring, Piper Sandler, Arvind Ramnani, Ramnani, Achal Kumar, Kumar, Delta, Blayne Curtis, NVDA, Curtis, Fred Imbert Organizations: CNBC, Nvidia, HSBC, American Airlines, Susquehanna, FactSet, Wall, Micron, Barclays, JPMorgan, GE Aerospace, GE, PepsiCo, Pepsi, PEP, Mastercard, Visa, Technology, Delta Locations: Delta, United, Europe, Monday's premarket
AccelVenture capital firm Accel said Tuesday it's raised $650 million for its eighth fund targeted at investing in European and Israeli early-stage startups, in a sign the venture capital market may be showing signs of a recovery. "The environment has dramatically changed since then," Nelis told CNBC. Climate-focused VC firm World Fund closed a 300 million euro fund in March. "We're lucky that with DeepMind here in London and with Fair [Facebook AI Research] in Paris, there's at least two big centers that have great AI expertise," Nelis told CNBC. "My expectation is Europe is going to generate some really interesting AI application companies," Nelis told CNBC.
Persons: Harry Nelis, Sonali de Rycker, Andrei Brasoveanu, Luca Bocchio, Philippe Botteri, it's, Nelis, UiPath, Russia's, Wise, Magnus Grimeland, Grimeland, there's, Victor Riparbelli, Synthesia, Riparbelli Organizations: Accel, Accel Venture, Spotify, CNBC, Skype, U.S, Nvidia Locations: Europe, Israel, Lithuania, Romania, Ukraine, New York, U.S, London, Paris, Synthesia
The Department of Defense is working on initiatives to face the drone threat, but the US military doesn't yet appear ready to confront this ever-evolving challenge, especially on the scale seen in Ukraine. AdvertisementA US military MQ-9 Reaper drone waits for take-off at Kandahar Air Base in Afghanistan on March 9, 2018. US military leaders have repeatedly stressed there's no silver bullet to defeat small drones in battle. Shellie HallStudents there spend several weeks learning how to identify, engage, and defeat small drones. The drone threat draws certain parallels to fighting in Iraq and Afghanistan, where hidden bombs posed a tremendous threat.
Persons: GENYA SAVILOV, Mick Ryan, hasn't, you've, Franz J, Marty, Samuel Bendett, Paul Scharre, that's, Mike Parent, Mark Schauer, Parent, Paul Butcher, Cpl, Doug Bush, Amber Osei, Moseph Sauda, doesn't, Sauda, America's, Bram Janssen, Scharre, Justin Bronk, Jack Watling, Ryan Organizations: Business, Troops, of Defense, Department of Defense, Getty, Australian Army, Islamic State, Kandahar Air Base, Defense Ministry, Karabakh . Defense Ministry, Azerbaijan, AP, Pentagon, US Army, Aircraft Systems, Solutions, 71st Jaeger Brigade, US Army Yuma, Technology, Army, sUAS University, US Marine Corps, Force, Central Command, Shellie, National Training Center, US Army Air Defense Artillery, Center, New, New American Security, Base, London's Royal United Services Institute Locations: Russian, Ukrainian, Ukraine, prowling, Jordan, Chasiv Yar, Donetsk, AFP, Afghanistan, Armenia, Azerbaijan, Russia, Nagorno, Karabakh, Avdiivka, Yuma, East, Oklahoma's Fort Sill, California, Fort Sill, China, Luhansk Region, Europe, Iran, New American, Iraq, Washington, Bagram, Kabul, Australian
Looking back, I think being a single mom was hard. However, I think today's solo parents have a more difficult time due to the pressures of social media. We adopted our boys in 2012 and 2013, and there was a Facebook mom group for everything. I sometimes wonder how my experience parenting my daughter in the 90s would have been made better or worse by the presence of social media. My experience with Facebook mom groups has taught me that they're mostly a place of judgment and one-upmanship.
Persons: I'm, else's, I've, Amelia Bedelia Organizations: Technology Locations: what's
Apple said sales fell 4 percent to $90.8 billion for the three months that ended in March. Revenue from iPhones, iPads and wearables like the Apple Watch declined from the same quarter last year, while sales of software and services rose. Apple’s struggles were most worrisome in China, the world’s second-largest smartphone market, where sales fell 8 percent. Last quarter, Apple’s share of smartphones sold in China fell 4 percent, according to Counterpoint, a technology research firm. Shares of Apple rose 6.5 percent because the results slightly exceeded Wall Street predictions for quarterly sales and profit and were better in China than feared.
Persons: Apple’s, Trump Organizations: Apple, Justice Department, Revenue, Apple Watch, Huawei Locations: iPhones, China
But at our son's tech-free school, there isn't so much as a smart board — and that's just the way we like it. We let our kids use screens at home, but they don't overindulgeLike most Waldorf schools, Otto Specht suggests limited media exposure at home. But in our house, our kids have free rein when it comes to screen time. AdvertisementSome people argue that it's necessary to introduce kids to technology because it makes them "workplace-ready." In the meantime, let's let kids be kids.
Persons: , Daniel Tiger's, Oscar, that's, Otto Specht, Melissa Petro's, Melissa Petro, Minecraft, He's, let's Organizations: Service, Business, Waldorf Schools, Otto Specht School, Waldorf, Disney
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