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☆ JD Vance's Wall Street allies raise millions for the Trump campaign
▼ + stars: | 2024-09-11 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Wall Street relationshipsOne of Vance's earliest interactions with Wall Street came shortly after the November 2016 presidential election, when he headlined a lunch in New York to discuss his newly published memoir. John Underwood, a longtime managing director at Goldman Sachs, encouraged his allies to support and raise money for Vance's Senate campaign, according to people familiar with the matter. He told them the Trump campaign would need "hundreds of millions of dollars" to compete with Vice President Kamala Harris' fundraising surge. The Ohio Republican's opposition to Wall Street was on full display during the Republican National Convention in Milwaukee in July. "Wall Street barons crashed the economy and American builders went out of business," Vance said in his nomination acceptance speech.

Persons: Vance, Marco Bello, Sen, JD Vance, Donald Trump's, Scott Bessent, Morgan Stanley's Jonathan Burkan, Cantor Fitzgerald, Howard Lutnick, Norm Champ, Keith Rabois, Jacob Helberg, J.D, Champ, Sander Gerber, Gerber, Goldman Sachs, Ohio Republican Sen, Rob Portman, John Underwood, Underwood, Steve Case, Trump, Omeed Malik, Emil Henry, Henry, Bush, Ted Virtue, Woody Johnson, Clifford Sobel, Richard Kurtz, Kamala Harris, Harris, Malik, John Paulson, Reuben Jeffery III Organizations: Republican U.S, Reuters, Ohio, Trump, Vance, Securities and Exchange Commission, CNBC, Hudson, Hudson Bay Capital, Netflix, Allen & Company, Ohio Republican, Senate, AOL, Tiger Infrastructure Partners, New York Jets, Hamptons, Valor Capital, Rockefeller & Co, Wall, Republican National Convention Locations: Kenosha, Kenosha , Wisconsin, U.S, New York City, Hudson Bay, New York, Ohio, Sun Valley , Idaho, Washington, Milwaukee

☆ China's AI models lag their U.S. counterparts by 6 to 9 months, says former head of Google China
▼ + stars: | 2024-09-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Kai-Fu Lee, chairman and chief executive officer of Sinovation Ventures, speaks during the HICOOL Global Entrepreneur Summit on September 11, 2021 in Beijing, China. BEIJING — Chinese artificial intelligence models may be at least half a year behind those developed in the U.S., but Chinese AI apps will likely take off much faster, said Kai-Fu Lee, former head of Google China. The top Chinese companies' LLMs are about six to nine months behind their U.S. counterparts, while less advanced Chinese models may lag the U.S. by about 15 months, Lee said. Lee, author of "AI Superpowers: China, Silicon Valley, and the New World Order,“ is a widely followed commentator on AI, and is the founder of startup 01.AI as well as venture capital firm Sinovation Ventures. "Apps, I would predict, by early next year will proliferate in China much faster than in the U.S.," Lee said, noting that the cost of training a good AI model has fallen significantly.

Persons: Kai, Fu Lee, Lee Organizations: Sinovation Ventures, Summit, Google, Equity Forum China Locations: Beijing, China, BEIJING, U.S, Google China, Silicon Valley

☆ Bitcoin could soon hit six figures regardless of who wins U.S. election, investors say
▼ + stars: | 2024-09-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Despite the increasingly partisan sentiment in the cryptocurrency industry, bitcoin will thrive over the long term regardless of who wins the U.S. presidential election in November. It helps that bitcoin became more institutionalized than ever this year with the introduction of U.S. bitcoin exchange traded funds. "If Trump wins in November, will there be an immediate pump? If Harris wins, could there be some immediate sell pressure? Although there are concerns thanks to the Biden administration's position on bitcoin, "I would remind investors ... that bitcoin did great," under the current adminustration, Lubka added.

Persons: That's, Donald Trump's, Steven Lubka, Bitcoin, Lubka, Kamala Harris, James Davies, bitcoin, " Davies, hasn't, Harris, Biden, Tyrone Ross, Trump, Bernstein, Swan Bitcoin, Elizabeth Warren, Gary Gensler, … Organizations: U.S, Swan, Exchange, Investors, Conference, Republican, Trump, Securities Locations: United States, Japan, Nashville, bitcoin

☆ 88% of Asian Americans in California plan to vote but half aren’t being contacted, they say
▼ + stars: | 2024-09-10 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +4 min

The group released the survey last week with two nonprofit organizations, Asian Americans and Pacific Islanders for Civic Empowerment Education Fund and Asian American Futures. The survey authors interviewed 1,253 Asian Americans across six of the largest Asian ethnic groups in California. Ramakrishnan said the results are relatively consistent with Asian American voters in the past. Still, there continues to be a misconception that appealing to Asian Americans, which often requires multilingual outreach, is too expensive, Ramakrishnan said. But hiring more Asian Americans on campaigns could help solve that issue.

Persons: ”, Karthick Ramakrishnan, Nina Raneses, ” Raneses, Harris, Walz, ” Ramakrishnan, Ramakrishnan, Dave Min, Republican Scott Baugh Organizations: Democratic, Republican, Asian American, Pacific Islanders, Civic Empowerment Education Fund, American Futures, American, Democratic Party, Republican Party, NBC News, Democratic National, Pacific, DNC, California Asian, Asian, Congressional Locations: California, U.S, Americans, Southern California, Central Valley

☆ Wildfires ravage California and Nevada amid heatwave, prompt evacuations and power outages
▼ + stars: | 2024-09-10 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +4 min

The blaze, which began Thursday night east of Los Angeles, has thus far forced at least 6,000 people to evacuate. Pyrocumulus clouds have also been seen around two other major Southern California fires: the Airport Fire in Orange County and the Bridge Fire in Angeles National Forest. On Monday, fire officials said the California National Guard will deploy four Blackhawk helicopters and other aircraft to aid with modular airborne fire fighting systems as well as 80 soldiers. Meanwhile, in Nevada, the Davis Fire is burning about 5,000 acres and stands 0% contained, Humboldt-Toiyabe National Forest officials said Monday evening. Red Flag warnings are in place across southern California, including the I-5 corridor and the Los Angeles Metro area.

Persons: Qian Weizhong, ” CalFire, Gavin Newsom, Patrick T, Fallon, Davis Organizations: San Bernardino National Forest, California Department of Forestry, National Weather Service, Angeles National Forest, Firefighters, Getty, Gov, California National Guard, Blackhawk, Unified, Redlands Unified, OC Fire Authority, Robinson, National, Los, Los Angeles Metro Locations: California, Nevada, Los Angeles, Southern California, Orange County, Angeles, San Bernardino, Calif, Highlands, Rancho Santa Margarita, San Antonio, Baldy, Humboldt, Davis, Reno, Washoe County , Nevada

The wife of a California inmate will receive $5.6 million after being sexually violated during a strip search when she tried to visit her husband in prison, her attorneys said Monday. Of the $5.6 million settlement, the California Department of Corrections and Rehabilitation will pay $3.6 million and the rest will be paid by the other defendants, which include two correctional officers, a doctor, and the Adventist Health Tehachapi Valley hospital. Despite no contraband being found in any of her belongings or her body, Cardenas was denied her visit with her husband. California prisons have faced an ongoing problem of sexual abuse and misconduct, with the the U.S. Justice Department announcing it had opened an investigation into allegations that correctional officers systematically sexually abused incarcerated women at two state-run California prisons. Earlier this year the federal Bureau of Prisons announced it will close a women’s prison in Northern California known as the “rape club” after an Associated Press investigation exposed rampant sexual abuse by correctional officers.

Persons: Christina Cardenas, ” Cardenas, Cardenas, Christina, It’s, “, Gloria Allred, Allred Organizations: California Department of Corrections, Rehabilitation, Adventist Health, U.S . Justice Department, of Prisons, Associated Press Locations: California, Tehachapi, Calif, Adventist Health Tehachapi, Cardenas, Northern California

Mandatory evacuations were ordered for communities across San Bernardino County, east of Los Angeles, as the so-called Line Fire raged through woodland and burned through more than 23,700 acres by Monday night. The fire in the foothills of the San Bernardino National Forest was 5% contained as of around 8 p.m. PT Monday, according to the California Department of Forestry and Fire Protection, or CalFire. March Air Reserve Base in Riverside County, just south of San Bernardino County, reached 105, according to the National Weather Service. “The triple-digit weather down here is nasty.”Newsom proclaimed a state of emergency for San Bernardino County Saturday night. State officials said vegetation is critically dry in San Bernardino County and temperatures reached more than 100 degrees on Saturday, with relative humidity ideal for the fire to spread.

Persons: CalFire, Gavin Newsom, Eric Thayer, Dan Munsey, Smiley, ”, “, Steven Michael King, Michael Lee, Lee, ” Lee, ” Newsom, Firefighters Organizations: San Bernardino National Forest, PT, California Department of Forestry, Gov, National Guard, Unified, Redlands Unified, National Weather Service, San Bernardino Fire Protection, Downtown, Air Reserve Base, Angeles National Forest, Running, Associated Press, AP, San Bernardino Locations: San Bernardino County, Los Angeles, Forest, California, Orange County, Running Springs, Calif, Running, Downtown Los Angeles, Riverside County, L.A, Lake, Highland, Clearlake City, San Francisco

Flooding rainfall, powerful winds and potentially life-threatening storm surge could pummel parts of the upper Texas and Louisiana coastlines as Francine passes through. In addition to a hurricane warning in Louisiana, tropical storm warnings and watches have been issued along a stretch of the Louisiana and Texas coast. A storm surge warning has also been issued from High Island, Texas, to the mouth of the Mississippi River. Storm surge and rough surf could also cause minor flooding on the Mexico coast early this week. Storm surge will begin to ramp up as Francine nears landfall, causing normally dry areas to be inundated with several feet of water.

Persons: Francine, Louisiana’s, It’s, Jeff Landry, Louisiana’s Cameron Parish, Ida, Francis, “ Francine Organizations: CNN, National Hurricane Center, Louisiana and, Gov, Federal Emergency Management Agency Locations: Gulf, Louisiana, Texas, Mexico, Mississippi, Louisiana and Texas, High Island , Texas, Louisiana’s Cameron, Jefferson Parish’s, Grand Isle, St, Mary, Terrebonne, Terrebonne Parish, Jefferson, Orleans, New Orleans, In Mississippi, . Texas

☆ Meet the Silicon Valley billionaires, corporate CEOS, and founders backing Kamala Harris
▼ + stars: | 2024-09-10 | by ( Alice Tecotzky | Noah Sheidlower | ) www.businessinsider.com time to read: +1 min

More than 800 powerful venture capitalists organized to pledge support for Kamala Harris. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . By late August, more than 800 venture capitalists pledged to vote and solicit donations for Harris on a new website, VCsForKamala.org. According to one of the group's organizers, the original signatories represent a combined $150 billion in assets under management. The current signatories represent a combined $276 billion, according to the group's founders.

Persons: Kamala Harris, Harris, —, Elon Musk, Marc Andreessen, David Sacks, Donald Trump Organizations: Service, Business

☆ Nvidia may be the AI darling, but it's time to start looking at this chip stock, one CIO says
▼ + stars: | 2024-09-10 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Tema ETFs' Yuri Khodjamirian is keeping a close watch on chip designer Qualcomm Inc . As AI shifts from data centers — an Nvidia "stronghold" — to the " edge ," investors should "start looking at companies like Qualcomm," Khodjamirian said. And "edge AI" is more than about chips — "it's really everything, the silicon content of our mobile phones and PCs, has to go up, because you need better memory; you need better connectivity between the different semiconductors. Qualcomm's shares are currently trading at around 15.3 times forward earnings, while Nvidia has a multiple of around 38, according to FactSet data. 'Emerging Edge AI play' Analysts at KeyBanc Capital Markets are bullish on Qualcomm and have a target price of $225 on the stock, or 55.8% upside.

Persons: Yuri Khodjamirian, CNBC's, It's, Khodjamirian, Cristiano Amon, Leswing, Arjun Kharpal, Michael Bloom Organizations: Nvidia, Qualcomm Inc, Qualcomm, Samsung, Nasdaq, CNBC, Google, KeyBanc Locations: Tema

☆ The two words Apple never mentioned at its iPhone 16 event
▼ + stars: | 2024-09-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Apple is wedging AI into its phones like a new U2 album no one asked for. However, given the “Apple Intelligence” highlights the company previewed in June and officially rolled out Monday, investors and customers alike may want to temper their expectations. Even Apple seemed to hedge a bit: It never mentioned the words “artificial intelligence.”The new tools look … fine. Munster expects iPhone sales will exceed Wall Street’s estimates in the coming quarters. The always image-conscious Apple knows better than to fall into the “AI” trap, even if its whole pitch for the new iPhone is AI.

Persons: CNN Business ’, you’ll, Siri, You’ll, ”, Gene Munster, Justin Sullivan, Tim Cook, ChatGPT, Apple Organizations: CNN Business, New York CNN, Apple, Deepwater Asset Management, Munster, Apple Intelligence, Wall, of Hospitality Marketing, Management Locations: New York, Valley, Silicon Valley

☆ Israeli airstrike kills Hezbollah special forces commander
▼ + stars: | 2024-09-10 | by ( Mohammed Tawfeeq | ) edition.cnn.com time to read: +1 min

CNN —A senior Hezbollah commander has been killed in an Israeli airstrike in Lebanon. Hezbollah confirmed Al-Shaer had been killed and said it responded to his killing by launching “dozens” of Katyusha rockets and several drones toward two locations in northern Israel. The Israeli military added that it had responded by striking Hezbollah launchers “in the areas of Mansouri and At Tiri,” which had been used in the attacks. Earlier Tuesday, the Israeli Air Force said it had struck a Hezbollah military structure in the village of Rachaf in the Nabatieh governorate of southern Lebanon. Lebanon’s Public Health Emergency Operations Center said the strike on Rachaf wounded 12 people.

Persons: CNN —, Mohammed Qassem Al, Shaer, Israel ”, Al Organizations: CNN, Radwan Force, Israel Defense Forces, IDF, Israeli Air Force, Lebanon’s, Health Emergency, Center Locations: Lebanon, Qaraoun, Valley, Israel, Iran, Mansouri, Tiri, Rachaf, Nabatieh, Gaza

☆ Harris and Trump face off for the first time tonight, but some corners of the business world are already over it
▼ + stars: | 2024-09-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Business Insider's Brent D. Griffiths has a rundown on everything you need to know heading into tonight . A newly released Times/Siena poll shows Trump holding just a one-point advantage over Harris among likely voters. For Trump, the focus will likely be the economy, which is a high priority for voters and also a sore spot for Harris. The latest Times poll showed Trump (55%) held a big advantage over Harris (42%) regarding who would be better equipped to handle the economy. Trump will also likely target Harris' biggest vulnerabilities , which may include trying to define her shifting views as disingenuous flip-flops, Brent writes.

Persons: —, he'll, it's, Jose Luis Pelaez, Michael Ciaglo, Getty, Tom Williams, Tyler Le, Kamala Harris, Donald Trump, Insider's Brent D, Griffiths, Harris, BI's John L Dorman, Trump, Brent, Jenny Chang, Rodriguez, BI's Bradley Saacks, It's, BI's Alice Tecotzky, Sébastien Thibault, Goldman Sachs, Torsten Sløk, Anson Chan, Brian Niccol, hasn't, Putin, Andrew Cuomo, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Elon, Business, Jose Luis Pelaez Inc, Trump, BI Bitcoin, Arab League Locations: Philadelphia, Siena, Silicon Valley, China, America, Russia, Ukraine, Cairo, Israel, Gaza, New York, London

AdvertisementHow to clean a window AC unitYou should clean your window air conditioner thoroughly at least once a year. AdvertisementHow to clean a window AC unit with moldDrago recommended a deep clean of your window AC unit if you discover mold, performing all of the abovementioned steps. AdvertisementHow to clean a window AC unit without removing itThe safest way to thoroughly clean your window air conditioner is to remove it from the window, but that's not always possible. Insider's takeawayCleaning your window air conditioner will extend its lifespan, ensure it functions properly, and save you money in energy costs. Consider a few of the picks from our best air conditioner guide:Midea U Inverter Window Air Conditioner (MAW08V1QWT) The Midea U Inverter Window Air Conditioner features a unique design that allows you to open the window when it's installed, and it's one of two ACs to earn Energy Star Most Efficient Certification.

Persons: Ray Bramble, Vincent Drago, James Brains, Drago, Bramble, you've, that's, it's Organizations: King, Energy, Amazon Locations: Aire, Central Shenandoah Valley, Westchester County , New York

☆ Europe has admitted it's fallen behind US innovation. Now it's plotting a comeback.
▼ + stars: | 2024-09-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

How Europe fell behindThe US and China have outpaced the EU on innovation. One of its biggest tech companies, Dutch semiconductor firm ASML, was founded 40 years ago. Europe's strategy to close the innovation gapMario Draghi thinks the EU should focus its attentions on AI. REUTERS/Yves HermanDespite its weaker position relative to the US and China, Draghi thinks the EU can devise a plan to close the innovation gap. Beyond AI, Draghi points to other measures to close the innovation gap, such as reforms to policies that he thinks hinder innovation, as well as addressing big funding issues.

Persons: —, Mario Draghi, Draghi, European Central Bank —, Pedro Pardo, There's, Yves Herman, Musk, Mario Organizations: Service, Union, European Central Bank, Business, AFP, EU, Novo Nordisk, REUTERS, Tiger Global, Elon Musk Locations: Europe, China, EU, Silicon

☆ Apple's China rival Huawei just upstaged the iPhone 16 launch
▼ + stars: | 2024-09-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

This year, however, one of its top rivals in China has tried to rewrite the script. To make its challenge even clearer, Huawei is putting the Mate XT on sale in stores on September 20 — the same day the iPhone 16 will be available in China. Huawei's Mate XT will go on sale the same day as the iPhone 16 in China. AdvertisementFor some time now, Apple has anxiously been watching iPhone sales tumble in China. AdvertisementBut in the meantime, iPhones without AI could prove to be a tougher sell in China in the face of stiff competition.

Persons: —, Jamie MacEwan, MacEwan, raring, Gene Munster, Richard Windsor —, Apple Organizations: Service, Huawei, Business, Apple, Enders Analysis, Apple Intelligence, Deepwater Asset Management, Radio Free Mobile, Windsor Locations: China

☆ Apple's event will serve as a litmus test for the wider AI industry
▼ + stars: | 2024-09-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Apple is gearing up to announce a new lineup of devices at its 'Glowtime' event today — that's where we kick things off in our big story. AdvertisementApple's "Glowtime" event is today, the latest iteration of the tech giant's annual unveiling of its newest iPhone , writes Business Insider's Jordan Hart. AdvertisementAppleThe Apple event will also serve as a litmus test for the wider AI industry. Even giants like Microsoft and Amazon have struggled to turn their big AI bets into revenue drivers. AdvertisementSuccess could give the AI industry more confidence that there is a light at the end of the AI spending tunnel.

Persons: —, Chelsea Jia Feng, Insider's Jordan Hart, Apple, that's, BI's Hasan Chowdhury, that'll, –, Siri, Jenny Chang, Rodriguez, Paul Graham's, Brian Niccol, Laxman Narasimhan, Dan DeFrancesco, Hallam Bullock, Grace Lett, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Chelsea, Apple, Apple Intelligence, Microsoft, Amazon, Getty, Nvidia, JPMorgan, DOJ, Google, Oracle Locations: China, New York, London, Chicago

☆ They got priced out of NYC, so they bought a $160,000 house in Vermont — but country life doesn't mean they're 'suddenly wealthy'
▼ + stars: | 2024-09-09 | by ( Amanda Goh | ) www.businessinsider.com time to read: +11 min

Read previewAfter four years of living in their studio apartment in Brooklyn, Taylor and Tatum Barnes decided it was time to leave New York City. Advertisement"In New York City, I did not drive. Related stories"In New York City, we're not waving at everyone we pass by because if you did that, you'd go insane. The slower pace of life in Vermont has been refreshing compared to the hustle and bustle of the city, Taylor, who was originally from Pennsylvania, added. "Compared to New York City, the mortgage is half that of what we paid for rent," Tatum said.

Persons: —, Taylor, Tatum Barnes, Tatum, they're, we're, you'd, It's, Barnes, isn't, We're, that's Organizations: Service, Business, Dartmouth College, Dartmouth, New, Fiscal, Institute Locations: Brooklyn, New York City, Vermont, Hartford , Vermont, Pomfret, Burlington, City, playgroups, Pennsylvania, NYC, New York

☆ K-pop is more popular than ever, but that isn't helping agency stock prices
▼ + stars: | 2024-09-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

Hybe Corporation is the largest and listed on the blue-chip Kospi, while SM Entertainment, JYP Entertainment and YG Entertainment are on the small-cap Kosdaq. Physical sales have historically accounted for the lion's share of a label's revenue, Kim said, and has also been the most profitable segment. High physical sales, she explained, represent the number of fans, which, by extension, quantifies the addressable market for a company. watch nowDeclining physical album sales not only hits earnings, but also raises questions about whether the investment thesis of "continual high growth" has collapsed. "A physical album is useless and even a burden because it occupies space.

Persons: Jimmy Fallon, Hybe, Yoon Suk Yeol, Danielle, Hyein, NewJeans, Gary Miller, Blackpink, Kim Gyuyeon, Lisa, Jennie, Emma McIntyre, Emma Mcintyre, Kim, Simply, Mirae's Kim Organizations: NBC, NBCUniversal, Getty, Hybe, SM Entertainment, JYP Entertainment, YG Entertainment, SM, YG, YouTube, Spotify, CNBC, Park, Filmmagic, Coachella, London's, Big, Mirae Asset Securities, BTS, Valley Music, Arts Festival, JYP, Seoul Economic, South Locations: United States, Southeast Asia, Korean, CHICAGO , ILLINOIS, Chicago , Illinois, South, U.K, INDIO , CALIFORNIA, Indio , California, Seoul

☆ Palantir soars 14% on software vendor's inclusion in S&P 500
▼ + stars: | 2024-09-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Palantir shares popped 14% on Monday and are trading at their highest since early 2021 after the announcement late Friday that the stock is being added to the S&P 500. Palantir and Dell are replacing American Airlines and Etsy , respectively, S&P Global said in a press release. Dell shares rose almost 4% on Monday. To join the S&P 500, a company must have reported a profit in its latest quarter and have cumulative profit over the four most-recent quarters. Tech companies have been capturing a bigger share of the S&P 500, reflecting their growing significance to the broader economy.

Persons: Alex Karp, Palantir, — CNBC's Ari Levy Organizations: Palantir Technologies, Allen, Co . Media, Technology Conference, Dell, American Airlines, P Global, Tech, Micro Computer, New York Stock Exchange Locations: Sun Valley , Idaho

☆ Tech and business leaders will be looking for 3 things during the Harris-Trump debate
▼ + stars: | 2024-09-09 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

And that really, for tech, is going to determine what matters," he told Business Insider. "That was a clear effort to court business and tech," Tusk said. "That was really eye-opening, because that is not usually thought of as a business issue, it's thought of as a social issue," Snyder told Business Insider. But business and tech leaders will be looking at more than just policy on Tuesday night. AdvertisementLarsen believes that Harris may be able to provide the country with the reset that he and other business leaders are looking for.

Persons: —, Kamala Harris, Donald Trump, Harris, Joe Biden, Chris Larsen, Biden, Larsen, Bradley Tusk, Gary Gensler, Jordan Nof, Tusk, Gary Gensler's, Kieran Snyder, Snyder, Lina Khan, she's, Nof, Trump, Mark Cuban, Aaron Levie, Roe, it's Organizations: Service, Democratic National Convention, Business, Industry, Venture Partners, Democratic, Securities and Exchange Commission, Tusk Venture, SEC, Silicon, Federal Trade Commission, FTC, Wall Street Journal Locations: California, Silicon, U.S, China

☆ 3 ways Wall Street's largest banks are leveraging AI to increase profitability
▼ + stars: | 2024-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.

Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York

☆ Why do people give feelings to inanimate objects? What experts say
▼ + stars: | 2024-09-07 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +8 min

People commented that they felt emotions for their stuffed animals, plants, furniture and even the voice behind their phone’s GPS. “We’re sort of hardwired to connect with other people, and sometimes that extends to other (things) who aren’t people,” Shepard said. Anthropomorphizing household objectsWhen people feel sympathy for inanimate objects, they are anthropomorphizing, attributing human behaviors or feelings to animals or objects who cannot feel the same emotions as we do, Shepard said. When Wilde first shared the video, she thought she might be the only one who experienced emotions for the unassuming objects, she said. These AI companions are becoming increasingly popular, but experts don’t yet know how these bots can affect someone’s development or psychology, Wei said.

Persons: Lilianna Wilde, jean, Wilde, Melissa Shepard, ” Shepard, Shepard, Kim Egel, ” Egel, “, who’s, ’ ” Wilde, it’s, It’s, …, hasn’t, ” Wilde, Anthropomorphizing, anthropomorphizing, Marlynn Wei, Wei, We’re Organizations: CNN, NASA Locations: Maryland, California, …, New York

☆ Google's second antitrust trial could help shape the future of online ads
▼ + stars: | 2024-09-06 | by ( Jennifer Elias | Jennifer Covers Google Parent Company Alphabet Inc. | Silicon Valley Culture For Cnbc.Com In San Francisco. | ) www.nbcnews.com time to read: +8 min

For Google, the focus turns to its ad tools, which are part of the company’s $200 billion digital ad business. In the first antitrust case, the court found that Google violated Section 2 of the Sherman Act, which outlaws monopolies. The company’s M&A strategy “set the stage for Google’s later exclusionary conduct across the ad tech industry,” the Justice Department alleges. Google has long fought back against claims that it dominates online ads, pointing to the market share of competitors including Meta. It will argue that buyers and sellers have many options especially as the online ad market has evolved.

Persons: Biden, Donald Trump, Meta, Sherman, Goldman, Bernstein, Amit Mehta, ” Mehta, Google’s, Neal Mohan, Mohan, it’s, AdMeld, Jerry Dischler, It’s, Sissie Hsiao, Scott Sheffer, Prabhakar Raghavan, Simon Whitcombe Organizations: Department of Justice, Google, Microsoft, Big Tech, DOJ, Apple, Federal Trade Commission, Facebook, Amazon, Citibank, NYSE, New York Stock Exchange, YouTube, Google Network, U.S, District of Columbia, Department, DoubleClick, Meta, Stanford, Harvard, New York Times Locations: Alexandria , Virginia, California , Colorado , Connecticut , New Jersey , New York, Rhode Island and Tennessee, Google’s

☆ Dozens of business leaders endorse Kamala Harris for president
▼ + stars: | 2024-09-06 | by ( Liam Reilly | Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —Dozens of business leaders are throwing their weight behind Vice President Kamala Harris, saying she is the stronger candidate for the American economy and the future of democracy. In a three-page letter, a group of 88 business leaders — including high-profile current and former executives from major public companies across tech, media, and finance — emphasized that they believe a Harris administration can better nurture the private sector. The endorsements underscore the support Harris has not only in Silicon Valley, a traditional Democratic stronghold, but in some corners on Wall Street and at some consumer-facing companies. On the campaign trail, Harris has positioned herself as perhaps friendlier to business than President Joe Biden. The letter is a vote of confidence for Harris as she and former President Donald Trump appear neck and neck ahead of the November election.

Persons: Kamala Harris, —, Harris, “, James Murdoch, Mark Cuban, Reid Hoffman, Rupert Murdoch, Michael Lynton, Jeremy Stoppelman, Hoffman, Jeff Lawson, Laurene Powell Jobs, Peter Chernin, Jeffrey Katzenberg, Joe Biden, Trump, Elon Musk, David Sacks, San Francisco, Doug Leone, Joe Lonsdale, Peter Thiel, Donald Trump Organizations: CNN, CNBC, Democratic, Century Fox, Emerson Collective, TCG, Fox, Walt Disney Studios, Trump, San, Republican National Convention, America PAC, Sequoia Capital, Palantir, ABC Locations: Silicon Valley, United States

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