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CNN —The chance to win an NBA title doesn’t come around very often. Even when they do, injury misfortune can instantly derail a team’s title dream. That’s why Nuggets head coach Michael Malone said he “never” takes Jokić’s “greatness” for granted as the pair attempt to retake their NBA crown. The MVPs, the championship, he’s still the same guy. “You have the highest victory, first franchise championship in 47 years.
Persons: doesn’t, Nikola Jokić, , Jokić, , Michael Malone, , Ronald Martinez, ” Malone, CNN’s Bijan, I’ve, Nikola, Steph Curry, LeBron James, Russell Westbrook, he’s, He’s, Jaylen Brown, Larry O’Brien, Peter Casey, Westbrook, Dario Šarić, Malone, , wouldn’t, team’s, Adam Silver, ” Silver, “ We’ve, Joe Dumars –, Fadel Senna, Holiday, that’s Organizations: CNN, Denver Nuggets, Nuggets, Minnesota Timberwolves, NBA, Boston Celtics, of Famer, Dallas Mavericks, USA, Reuters, Western Conference, West, Celtics, Getty Locations: Serbian, Abu Dhabi, AFP, Boston
Airlines, including Iberia, Wizz Air, and Aer Lingus, have announced their first A321XLR routes. Irish carrier Aer Lingus said in October that it will launch its first A321XLR flight between Dublin and Nashville in April. The eight-and-a-half-hour route is a niche nonstop for the industry, with Aer Lingus as the only operator. Related storiesOther potential A321XLR routesWhile only a handful of A321XLR routes are officially on the books, many previously unserved city pairs could fit the bill, airlines have said. Qantas' list of potential A321XLR routes includes routes like Brisbane to Tokyo, Perth to the Maldives, and Melbourne to Bangkok.
Persons: , Wizz's, Thomas Pallini, America — Organizations: Airbus, Airlines, Aer Lingus, Service, Airbus A321XLR, Spanish, Iberia, Boston, Washington Dulles, Wizz, London, United, Irish, Nashville, Saudia, Business, JetBlue Airways, JetBlue Airways Airbus, Australia —, Qantas, Jetstar, JetSMART Locations: Iberia, Wizz, Madrid, Washington, London Gatwick, Jeddah, Saudi Arabia, Milan, Abu Dhabi, United Arab Emirates, Dublin, Barcelona, Rome, Brussels, Maldives, Dakar, Senegal, New York, Boston, Los Angeles, San Francisco, Europe, Aer, United, Las Vegas , Houston, Australia, Asia, Brisbane, Tokyo, Perth, Melbourne, Bangkok, South, America, Chile, Miami
The UAE's AI minister believes we'll have "centers and nodes of excellence across the world." Last year, the country's wealthiest emirate, Abu Dhabi, launched Falcon — its first open-source large language model. Abu Dhabi's ruling family also controls several of the world's largest sovereign wealth funds, including the Abu Dhabi Investment Authority and Mubadala Investment Company, a founding partner of MGX. In 2010, New York University launched a branch in Abu Dhabi that has since developed a focus on AI. Its "true strengths lie in the leadership's strategic vision, substantial investments in AI research and compute capacity, and government-led initiatives in industry.
Persons: we'll, , Omar Sultan Al Olama, Al Olama, Abu Dhabi's, PwC, It's, Mohamed bin, Abu Dhabi, Nancy Gleason, Mohamed Organizations: United, United Arab Emirates, Service, Stanford's Center, Atlantic Council, International Trade Administration, Abu, Abu Dhabi Investment Authority, Mubadala Investment Company, Atlantic, New York University, University of Artificial Intelligence, Intelligence, NYU Abu Locations: United Arab, Silicon Valley, Malta, Paris, United Arab Emirates, UAE, Silicon, Abu Dhabi, United States, China, Dubai, University, Abu, NYU Abu Dhabi
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There are signs across AI models, chips, and new form factors that the market is getting frothy. Investors spent the summer wondering if top AI stocks could continue to justify soaring valuations in the face of absent returns from their massive AI spending. Now, signs have emerged that they're not yet done with generative AI mania. OpenAI reaches dizzying new heightsSam Altman's OpenAI secured a $157 billion valuation after raising $6.6 billion in its latest funding round. In short, a lossmaking startup must justify its $157 billion valuation.
Persons: Cerebras, , Andrew Feldman, Ramsey Cardy Cerebras, here's, Abu, Cerebras —, Altman's OpenAI, OpenAI, Elon Musk's xAI, OpenAI's, Ilya Sutskever, Gary Marcus, OpenAI's Sam Altman, David Sacks, Darius Rafieyan, Mira Murati, Mark Zuckerberg, Andrej Sokolow, frothiness, Jensen Huang, Alex Heath, Rahul Prasad, Snapchat Organizations: Nvidia, Service, Investors, Microsoft, Saudi Aramco, Bloomberg, OpenAI, LLMs, Financial Times, Anthropic, Craft Ventures, Tiger Global, The New York Times, Getty, company's Connect, Meta, Orion Locations: Sunnyvale, Abu Dhabi, Silver, Saudi, Silicon Valley,
Oil prices could be marginally softer next year, economist says
  + stars: | 2024-10-03 | 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 EmailOil prices could be marginally softer next year, economist saysSimon Ballard, chief economist at First Abu Dhabi Bank, discusses oil market reactions to geopolitical tensions in the Middle East.
Persons: Simon Ballard Organizations: Abu, Abu Dhabi Bank Locations: Abu Dhabi
Cathie Wood's Ark Venture Fund invested at least $250 million in this new round. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of its total assets. AdvertisementCathie Wood's Ark Venture Fund has agreed to invest at least $250 million in OpenAI's latest funding round, three people familiar with the round said. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of the fund's total assets, according to its website. On Wednesday, a retail investor shared a screenshot of what appears to be an email she received from Ark Venture Fund informing her of its new OpenAI investment.
Persons: OpenAI, , Ark, Musk Organizations: Ark Venture Fund, Ark Venture, Service, Microsoft, Tiger Global, Nvidia, Khosla Ventures, United, United Arab Emirates Locations: Abu Dhabi, United Arab, xAI
Wizz Air is set to launch new long-haul routes using its upcoming Airbus A321XLR. The first flights, a seven-hour trek, will start in March between London and Jeddah, Saudi Arabia. Wizz Air will offer significantly cheaper fares compared to competitors like British Airways. AdvertisementLow-cost carrier Wizz Air is banking that price-sensitive customers will book its new no-frills narrowbody planes to save money on long-haul flights — and it's not being shy about the cabin. Wizz's new long-haul flights on the A321XLR won't even come with free water.
Persons: , Wizz, József Váradi, Abu Dhabi Organizations: Airbus A321XLR, British Airways, Service, Wizz, Airbus, London, Etihad Airways Locations: London, Jeddah, Saudi Arabia, Hungarian, London Gatwick, Milan, Abu Dhabi, Abu, UAE
New Delhi CNN —Fans eagerly awaiting the return of Coldplay to India were shocked to find tickets being resold online for as much as $11,000, prompting police to seek a statement from the CEO of the shows’ vendor over allegations of fraud. Tickets were scheduled to go on sale by the official vendor, BookMyShow (BMS), at 12 p.m. local time on September 22. Amit Vyas, a lawyer and founding partner of Mumbai law firm Vertices Partners, was among fans waiting for tickets on the vendor’s website when he was suddenly locked out. The complaint was in connection with the alleged sale of fake tickets for concerts on certain platforms, according to CNN affiliate News18. Coldplay fans told CNN their attempts to buy tickets to January’s shows at DY Patil Stadium in Mumbai left them frustrated and disappointed.
Persons: New Delhi CNN —, Amit Vyas, ” Vyas, BookMyShow, Ashish Hemjarani, Arkatapa Basu, , , Ishaan, Taylor Organizations: New, New Delhi CNN, Coldplay, Bank, Partners, CNN, News18, Oasis, Ticketmaster Locations: New Delhi, India, British, Mumbai, Mumbai –, Delhi –, Bengaluru, Delhi, Abu Dhabi
Abu Dhabi's state-owned oil firm ADNOC on Tuesday said it has agreed to buy German chemicals firm Covestro for 14.7 billion euros ($16.4 billion). The deal represents an enterprise value of 14.7 billion euros, ADNOC said in a separate statement. "As a global leader and industrial pioneer in chemicals, Covestro brings unmatched expertise in high-tech specialty chemicals and materials, using advanced technologies including AI," said Sultan Ahmed al-Jaber, group CEO and managing director of ADNOC. As part of the deal, ADNOC also signed an investment agreement in which it pledged to provide additional funding by buying 1.17 billion euros worth of new shares of Covestro from a capital increase. Earlier this year the UAE oil giant closed a deal acquiring a 24.9% stake in Austrian chemicals firm OMV.
Persons: Abu Dhabi's, Covestro, ADNOC, Sultan Ahmed al, Jaber, Fertiglobe, Jefferies Organizations: Abu, Abu Dhabi National Oil Company, Bayer Locations: Leverkusen, Germany, ADNOC, Abu Dhabi, London, UAE, Fertiglobe
SoftBank founder Masayoshi Son has spent his life putting bold bets on the future of technology. SoftBank, the media-technology conglomerate Son founded two decades prior, was riding high on the glory it attained in the dot-com boom. He was told he was special," Barber told BI. "He wants to be seen as the great modernizer transforming this petrostate into a truly modern economy where technology is at the forefront," Barber told BI. But as previous cycles in Son's life dictate, the flurry of enthusiasm is typically followed by failure.
Persons: Masayoshi Son, Lionel Barber, , Son, Bill Gates, Masa —, Uber, Barber, Vladimir Putin, Barack Obama, — he's, Jack Ma's Alibaba, Wang, he's, Napoleon Bonaparte, Genghis Khan, Qin Shi Huang, Emperor of, Microsoft's Gates, Jordan Strauss, Mitsunori, SoftBank, Rupert Murdoch, Larry Ellison, Jack Welch, Steve Jobs, Masayoshi, Justin Sullivan, Rajeev Misra, Nikesh Arora, Phil McCarten, Abu Dhabi's Mubadala, Mohammed bin Salman, Saudi, Michael Moritz, Kim Jong, Adam Neumann, Donald Trump, Wirecard, Jesus, NurPhoto, He's, Allen Lane Organizations: Service, Financial Times, Kremlin, Yahoo, Popular Electronics, Vision, Deutsche Bank, Google, Reuters, Saudi Arabia's Public Investment Fund, Vision Fund, Valley's, Sequoia Capital, Greensill, Nvidia, Signal Publishers Locations: Tokyo's Roppongi, Japan, Masayoshi, Washington, Wayne, Emperor of China, Kyushu, United States, Riyadh, Berkeley, Las Vegas
Researchers at Khalifa University in Abu Dhabi have developed a high-tech solution to searching huge, arid areas for potential archaeological sites. Traditionally, archaeologists use ground surveys to detect potential sites of interest, but that can be time-consuming and difficult in harsh terrains like the desert. “Once it was trained, it gave us an indication of other potential areas (nearby) that are still not excavated,” says Francis. Khalifa University isn’t alone in using artificial intelligence to detect potential sites. If archaeologists find the structures the algorithm has predicted, Dubai Culture plans to use the technology to unearth more sites.
Persons: , Diana Francis, Francis, Ben Romdhane, Saruq Al, Hadid, Expediting, Amy Hatton, Max Planck, Hatton, isn’t, Amina Jambajanstsan, Hugh Thomas, — Thomas, Thomas, Unearthing, Al Hadid Organizations: CNN, Khalifa University, Dubai Culture, Max, Max Planck Institute, Geoanthropology, Khalifa, University of Sydney Locations: Abu Dhabi, Dubai, Saudi Arabia, Mongolia —, Alaska, Southern Mongolia, Egypt, Africa
The UAE president’s visit to the US “was mostly and almost exclusively about the future,” Gargash said. One of the US’ closest allies in the Middle East and a major recipient of US arms, it hosts 5,000 US military personnel. Wary of being deprived of US technology, the UAE has since abandoned closer cooperation with China in the field of AI and semiconductors in favor of the US. Earlier this year, Abu Dhabi’s state-backed technology firm G42 announced it had agreed not to engage with Chinese companies for advanced technology. He said the two pillars of the UAE’s policy are stability and prosperity.
Persons: Biden, Kamala Harris, Jake Sullivan, Sheikh Mohammed bin Zayed, , ” Biden, ” Sheikh Mohammed, ” Anwar Gargash, CNN’s Becky Anderson, ” Gargash, Abu, Donald Trump, Abu Dhabi’s, , Sheikh Mohamed, Gargash, Abu Dhabi Organizations: Abu Dhabi CNN, United, White, National, USA, UAE, Abu Dhabi, US Air Force, CNN, Biden, Huawei Technologies, Financial Times, NVIDIA, Blackrock, Microsoft, MGX Locations: Abu Dhabi, United Arab Emirates, Gaza, Lebanon, UAE, trailblazers, United States, Israel, China, Washington, Abu
Etihad Airways on Wednesday revealed a $7 billion investment plan over the next five years in a bid to "double the size of the airline until 2030." Speaking to CNBC's Dan Murphy, Etihad's Group Chief Executive Officer Antonoaldo Neves revealed passengers should expect "a totally different airline" within the next two to three years. Much of the $7 billion will go into revamping its existing fleet of planes, as well as the purchase of new aircraft further down the line, he said. But Neves is aiming for the skies, with the hope of having up to 170 planes by the end of the decade. Neves said Etihad will begin retrofitting and revamping "dated" Boeing 777 planes from 2026 onward, this is due to what he described as "the constraints that we have in the global aviation market."
Persons: CNBC's Dan Murphy, Antonoaldo Neves, Abu, Neves Organizations: Etihad Airways, Etihad's, Etihad, Boeing, United Arab Locations: Abu Dhabi, Europe, Southeast Asia, United Arab Emirates
Uber is partnering with Chinese self-driving firm WeRide to add more robotaxis to its app. The ride-hailing giant will launch its first service with WeRide in Abu Dhabi later this year. AdvertisementUber is partnering with a Chinese tech giant to add more robotaxis to its app — but don't expect them to come to the US anytime soon. The ride-hailing company announced a partnership with Chinese self-driving firm WeRide on Wednesday, which will allow users to access WeRide's autonomous vehicles via the Uber app. The partnership is expected to launch later this year in Abu Dhabi, where WeRide already has a robotaxi fleet in operation.
Persons: Uber, , WeRide Organizations: Service, Business Locations: Abu Dhabi
Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley's artificial intelligence darlings. In the past year, funding for AI companies by Middle-Eastern sovereigns has increased fivefold, according to data from Pitchbook. Few venture funds have deep enough pockets to compete with the multibillion-dollar checks coming from the likes of Microsoft and Amazon . MGX was launched as a dedicated AI fund in March, with Abu Dhabi's Mubadala and AI firm G42 as founding partners. For the U.S., having sovereign wealth funds invest in American companies, and not in global adversaries like China, has been a geopolitical priority.
Persons: Goldman Sachs, Prince Mohammed bin Salman's, Uber, LIV, UAE's Mubadala, MGX, Abu Dhabi's Mubadala, Anthropic, Andreessen Horowitz, Jamal Khashoggi, It's, Bpifrance, WeWork spiraled, Jared Cohen, there's Organizations: United, CNBC, Microsoft, Gulf Cooperation Council, Saudi Public Investment Fund, Abu, Abu Dhabi Investment Authority, Qatar Investment Authority, BlackRock, Global Infrastructure Partners, Saudi, U.S, Saudi Company, Artificial Intelligence, Washington Post, SoftBank, Goldman Sachs Global Institute Locations: Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Pitchbook, Abu Dhabi, Temasek, Singapore, China, UAE
"The two leaders will highlight a half century trajectory of UAE-U.S. partnership in trade, investment and security," the Emirati ambassador to Washington, Yousef al-Otaiba, posted on X ahead of the visit. Growing investment tiesTrillion-dollar relationshipThe United States and the UAE have a trade and investment partnership that spans more than five decades. In 2023, bilateral trade between the UAE and the U.S. was worth around $31.4 billion, with U.S. exports to the UAE exceeding $24.8 billion, according to the UAE Embassy in Washington, D.C. The UAE, which produces nearly 4% of the world's oil supply, also has investments in the United States that total $1 trillion. The UAE sovereign wealth funds including the Abu Dhabi Investment Authority and Mubadala are major investors in American real estate, infrastructure and technology sectors.
Persons: Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince, Abu, Hannah McKay, Sheikh Mohammed bin Zayed Al Nahyan's, Anwar Gargash, Sheikh Mohammed's, Joe Biden, Kamala Harris, Gargash, Yousef al Organizations: Downing, Getty, United Arab Emirates, Washington , D.C, U.S, UAE, UAE Embassy, Abu, Abu Dhabi Investment Authority Locations: Abu Dhabi, London, England, United States, Washington ,, Dubai, Gaza, UAE, Washington, U.S
AdvertisementDavis shared how he's grown his net worth — and why he thinks finding one's dream work can help them live their ideal life. For example, if a person retires at age 60 — rather than age 50 — then it would be much easier for them to hit their retirement savings goal. That's why Davis thinks the key is finding one's dream work. "You just need enough money to cover any shortfall between what you want to spend and what your dream work pays," he said. To be sure, finding a job — forget about one's dream job — is easier said than done in today's economy.
Persons: , he'd, Brian Davis, Davis —, he's, Davis, — Davis, Brian Davis Davis, Katie, it's, they've, hasn't, That's Organizations: Service, FIRE, Business, BI Locations: Abu Dhabi, Brazil, Lima, Peru, South America
Read previewThe chip giant Intel could be at a crossroads as it figures out its next steps amid its declining valuation and struggling business. AdvertisementThe foundry side of Intel's business could also be in question, putting its billions in CHIPS and Science Act funding in jeopardy. Related storiesPreviously, Qualcomm had explored buying pieces of Intel's design business, Reuters reported. Intel's foundries would be expected to compete more against companies like GlobalFoundries, TSMC, and Samsung. The expanded collaboration between the two tech companies helps give more confidence about Intel capturing the AI boom, Rasgon said.
Persons: , Pat Gelsinger, Biden, Logan Purk, Edward Jones, Purk, Dan Morgan, There's, Intel's, Morgan, Lisa Su's, Stacy Rasgon, Rasgon Organizations: Service, Intel, Qualcomm, Wall Street, Amazon, Business, Biden Administration, Reuters, Samsung, Nvidia, AMD, Bernstein Research, Amazon Gelsinger, Amazon Web Services, Apple Locations: American, Synovus, Abu Dhabi
Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.
Persons: , MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington
Microsoft CEO Satya Nadella speaks during the company's Build developer conference in Seattle on May 21, 2024. Microsoft and BlackRock are part of a group of companies collaborating to pull together up to $100 billion to develop data centers for artificial intelligence and the energy infrastructure to power them. The group aims to assemble $30 billion of initial capital, with a future goal of bringing in up to $100 billion, including from debt financing. Microsoft said in July that fiscal fourth-quarter capital spending, including assets acquired under finance leases, totaled $19 billion. In January, BlackRock announced its intent to acquire GIP for $3 billion in cash and around 12 million shares of BlackRock common stock.
Persons: Satya Nadella, chatbot, MGX, Abu Dhabi's Mubadala Organizations: Microsoft, BlackRock, Artificial Intelligence Infrastructure Investment Partnership, Global Infrastructure Partners, United, Tech, Nvidia Locations: Seattle, United Arab Emirates, BlackRock
That was back in August 2023, just one year on from her mounting a camel for the first time. “It really starts with an awareness of animals and awareness of your own body,” she told CNN. The racing of dromedaries, a single-humped species also known as the Arabian camel, is a centuries-old passion in the region and endures in both popularity and lucrativeness, with prize money reaching multi-million-dollar figures. The ADCRC launched the UAE’s maiden all-women camel racing team — a development that immediately piqued Dees’ interest. “The outcome of the race is so reliant on the fitness and quality of the camel,” Dees explained.
Persons: Taylor Dees, Camel Festival’s, Dees —, , , Trailblazer Dees, , Dees, Linda Krockenberger, Krockenberger, ” Krockenberger, ’ Dees, ” Dees, Jordan’s Rawan Salah, Viroulaud Organizations: CNN, Crown, Trailblazer, United Arab Emirates, Camel Riding Center, ADCRC Locations: Texas, Moulton, Saudi Arabian, Taif, UAE, Abu Dhabi, German, Dubai, Saudi Arabia, AlUla
The hearing which will decide whether Manchester City broke 115* of the Premier League’s financial rules begins today (Monday) in London. It has been a long time coming — over 18 months since the Premier League announced its investigation had escalated into charges in February 2023. This is The Athletic’s guide to the 115* alleged charges (yes, we will explain the asterisk). AdvertisementIf the commission finds on “the balance of probabilities” that this was not the case, City will be found guilty. Should the Premier League rules be shown to be unlawful, their argument that City have broken those rules is significantly weakened.
Persons: , Pep Guardiola, Naomi Baker, we’ve, Buckle, Der Spiegel, , Abu, Roberto Mancini, Yaya Toure, City’s, Sheikh Mansour —, Al, Mancini, Abu Dhabi’s Al, Sheikh Mansour, Toure, Sheikh Mansour’s, City, , Pep, Justin Setterfield, What’s, “ What’s, Eamonn Dalton Organizations: Manchester City, Premier, Premier League, Champions League, FA, Everton, Nottingham Forest, Forest, City Football Group, League, Der, City, Al, Sheikh Mansour’s Abu Dhabi United Group, The Premier League, UEFA, Sport, Premier League —, Newcastle United, Saudi, Investment Fund, British, The Times, Athletic, League KCs Locations: London, City, Abu Dhabi, Al Jazira, Abu, Abu Dhabi’s Al Jazira, Sheikh Mansour’s Abu Dhabi, European, Der Spiegel
The one time she didn't join me was the honeymoon I spent with my former husband in 2008. I never went on vacation with girlfriendsBefore and after my marriage, I spent every break with the people who raised me. Around his mid-50s, he decided he didn't like traveling much and generally preferred to stay at home. But Mom went ahead and enjoyed herself, thinking it was funny. Meanwhile, I'm turning 44 in November and have decided to celebrate with a trip to Bali.
Persons: , Minreet Kaur, I'd, I've, Kaur, We've, Mom, I'm Organizations: Service, Business Locations: Sri Lankan, Kandy, North Wales, Canada, India, Europe, Valencia, Las Vegas, Abu Dhabi, Cyprus, Sri Lanka, Japan, Bali
CNN —Manchester City manager Pep Guardiola said he is “happy” that a hearing into the club’s more than 100 alleged breaches of the Premier League’s financial rules will begin soon. In May 2023, Guardiola said: “What I would like is that the Premier League or the judges could make [a decision] as soon as possible. City has won the Premier League eight times and the Champions League once since it was acquired by The Abu Dhabi United Group in 2008. Neither City nor the Premier League would comment on the hearing when contacted by CNN. The hearing over the over 100 alleged charges is not the only dispute between City and the Premier League.
Persons: Pep Guardiola, , ” Guardiola, , Guardiola, Michael Regan, Khaldoon Al Mubarak, Richard Masters Organizations: CNN, Manchester City, Premier, Premier League, Citizens, Brentford, Champions League, Abu Dhabi United Group, Getty Images, Sport, City, UEFA, The Times Locations: City
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