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☆ Inside Microsoft's struggles with Copilot
▼ + stars: | 2024-11-15 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +23 min

In September 2023, Microsoft's famously soft-spoken CEO, Satya Nadella, unveiled the company's flagship AI product, Copilot, with sweeping fanfare. Some of Microsoft's own employees and executives are privately concerned that Copilot won't be able to deliver on its ambitions. Copilot's struggles have created an opening for Microsoft's rivals, some of whom have seized on the opportunity to promote their own agendas. "Now, when Joe Blow logs into an account and kicks off Copilot, they can see everything," said one Microsoft employee familiar with customer complaints. As complaints and questions over Copilot mount, so does the pressure to justify Microsoft's unprecedented level of spending on AI.

Persons: Microsoft's, Satya Nadella, Gartner, Copilot, it'll, Copilot's, Marc Benioff, Benioff, Goldman Sachs, Marc Andreessen, Andreessen Horowitz, Ethan Miller, Jared Spataro, Spataro, —, Joe Blow, Joe, Nadella, Gary Marcus, Marcus, Wile, Coyote, Brontë, Judson Althoff, Jason Zander, Zander, We've, OpenAI, Tasos Katopodis, Steve Jobs Organizations: Microsoft, Venture, Getty, Goldman, BI, Fortune, Excel, Lumen Technologies, Honeywell, Gartner, Wall Street, Initiative, Department of Homeland Security, Employees, San Francisco, Software, Apple, Jobs Locations: Microsoft's, Copilot, New York City

☆ CNBC's Inside India newsletter: India's growing wealth divide
▼ + stars: | 2024-11-15 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +9 min

The rise in India's income and wealth inequality is not a result of the poor getting poorer, Sumedha Dasgupta, senior analyst at the Economist Intelligence Unit (EIU) flags. India's income gap (which is the difference in wages earned between different demographic) comes alongside a worsening wealth divide too. Instead, the phenomenon comes as the "rich are getting much richer at a faster rate," she told CNBC's Inside India. India's 3 household groupsA more pressing issue brought on by India's wealth and income divide is the emergence of different categories of households with distinct standards of living. Unequal education opportunitiesThe EIU's Dasgupta attributes India's vicious wealth and income gap cycle in large part to mismatched education opportunities.

Persons: Knight Frank, Dasgupta, CNBC's, Shumita Deveshwar, Deveshwar Organizations: Economist Intelligence Unit, Blume Ventures, Oxfam, Private, Department of School Education, Global Commons Alliance, TS Lombard Locations: India, United States, Brazil, South Africa, Venture, Saharan Africa, Indian

☆ Disney is turning record parks profits — even before its big expansions
▼ + stars: | 2024-11-15 | by ( Sarah Whitten | ) www.cnbc.com time to read: +8 min

Gary Hershorn | Corbis News | Getty ImagesAll is well in the Magic Kingdom. Experiences, which includes parks, resorts, cruises and consumer products, was the second-highest revenue driver behind Disney's entertainment division, which tallied $41.18 billion in fiscal 2024. "It's small things adding up to big things," said David Lightbody, senior vice president of Disney Live Entertainment. Limited time holiday merchandise available at Disney parks. A stunning firework show is held at the Magic Kingdom Park in Walt Disney World Resort on July 1, 2021 in Lake Buena Vista, Florida.

Persons: Gary Hershorn, King Thanos, it'll, Gavin Doyle, Doyle, Mouse, Helene, Milton, David Lightbody, Lightbody, Lindsay Brookshier, Disney hasn't, Liao Pan Organizations: Magic, Walt Disney World, Corbis, Getty, Magic Kingdom, Disney, Big, Marvel, Epcot, Guardians, Falcon, Disney Live Entertainment, Walt Disney, Disneyland's, Pixar Fest, Medianews, Orange, China News Service Locations: Orlando , Florida, Magic, Florida, California, Hong Kong, Anaheim, Walt, Lake Buena Vista , Florida

☆ The top 10 family offices for startup investments
▼ + stars: | 2024-11-15 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

The top 10 family offices for startup investments made over 150 investments combined this year, in everything from biotech and energy to crypto and artificial intelligence, according to a new analysis. CNBC partnered with Fintrx, the private wealth intelligence platform, to analyze single family offices that made the largest number of investments in private startups in 2024. The most active family office so far this year is Maelstrom, the Hong Kong-based family office of American investor Arthur Hayes, who co-founded the crypto exchange BitMEX. For the sake of the list, family offices are defined as investment vehicles or holding companies of a single family or individual that don't manage money for outside investors. Nearly a third of startup capital in 2022 came from family offices, according to a PWC report.

Persons: Guillaume Houze, Pascal Le Segretain, Robert Frank, Bernard Arnault's, Laurene Powell Jobs, Peter Thiel's Thiel, Arthur Hayes, Guillaume Houzé, Motier, Andreesen Horowitz, Eric Schmidt, Magnus Carlsen, Fertility Organizations: Royal, Getty, CNBC, Fintrx, Ventures, Labs, Motier Ventures, Google, Flex, Mistral, Nvidia, Lightspeed, Atinum Investment, Emerson Collective . Thiel Capital Locations: Paris, France, Hong Kong, Lafayette, Seoul, Korea, Singapore

The Onion, the satirical news company that repeatedly spoofed conspiracy theorist Alex Jones, has won the bankruptcy auction for control over his media empire — most notably Infowars, the far-right, conspiracy-minded website that served as Jones’ primary online platform. The Onion plans to shutter Jones’ Infowars and rebuild the website featuring well-known internet humor writers and content creators, according to a person with knowledge of the sale. About an hour and a half after the announcement of the sale, Infowars' website was shut down. Details of Wednesday’s auction, including how much was offered for Free Speech Systems, the parent company of Infowars, and related assets, were not immediately known. “All you leftists celebrating the end of Alex Jones and Infowars, you’re fools,” he said.

Persons: Alex Jones, Jones, “, ” Jones, Infowars, Sandy, Sandy Hook, Chris Mattei, divesting Jones, John Feinblatt, Ben Collins, Collins, Christopher Murray, ”, Jeff Lawson, InfoWars Organizations: U.S, First United American Companies, Free Speech Systems, Sandy Hook Elementary, Gun Safety, NBC News, Onion News, ThreeSixty, Bankruptcy, Southern, Southern District of, Global, Onion staff, O Media, Speech Systems Locations: Connecticut, Texas, Winnebago, Austin , Texas, Southern District, Southern District of Texas, Sandy Hook, Newtown , Connecticut, “

☆ Smart ring leader Oura plans international push as CEO touts new features and thinking on hardware
▼ + stars: | 2024-11-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

The Oura Ring 4 Courtesy: OuraLISBON — Samsung's foray into smart rings isn't concerning the boss of the product category's pioneer, Oura — in fact, Tom Hale says he's seeing a boost in business. Oura's flagship product is the Oura Ring 4, a device known as a smart ring. Founded in Finland in 2013, the company has been called a pioneer by analysts in the smart ring space. CCS Insight forecasts Oura will end the year with a 49% market share in smart rings. New hardware and AIWhile Oura only sells rings currently, Hale sees the company developing new products in the future.

Persons: Oura, Tom Hale, Hale Organizations: CNBC, Web, CCS, Samsung, U.S . Food, Drug Administration, Apple, International Locations: LISBON, Lisbon, Finland, U.S

☆ 39-year-old makes about $18,000 a month in passive income without a college degree: Here's my best advice
▼ + stars: | 2024-11-14 | by ( Amy Landino | ) www.cnbc.com time to read: +4 min

Building passive income isn't about finding a get-rich-quick scheme. My journey from there to successful entrepreneur and coach taught me valuable lessons about building sustainable passive income. Here are my top four tips for anyone looking to start their own passive income journey. DON'T MISS: The ultimate guide to earning passive income online I began with a social media marketing agency and nailed that process before I started on my first passive income idea — a course. When my community repeatedly asked for a book about video content strategy, I wrote the book "Vlog Like a Boss."

Persons: they've, I've, It's Organizations: Invest

☆ Tech giants are investing in 'sovereign AI' to help Europe cut its dependence on the U.S.
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Sovereign AI is "more driven by the industry naming it that, than it is from the policymakers' side," Gow said. On Wednesday, Denmark laid out a landmark white paper outlining how companies can use AI in compliance with the incoming EU AI Act — the world's first major AI law. How regulation fueled a mindset shiftThat's not to say regulations haven't proven an important factor in getting tech giants to think more about building localized AI infrastructure within Europe. The concept of AI sovereignty is also getting buy-in from local European tech firms. Orange hasn't yet selected a partner for these sovereign AI model ambitions.

Persons: Dado Ruvic, Chris Gow, Anthropic's Claude, Filippo Sanesi, Sanesi, hasn't, —, Cisco's Gow, Rather, " Gow, Gow, It's, David Hogan, Hogan, OVHCloud's Sanesi, Qwant, Bruno Zerbib, Zerbib Organizations: Reuters, Portugal — Tech, CNBC, Data, of Justice, EU, General Data Protection, U.S, Sovereign, Nvidia, Orange Locations: Reuters LISBON, Portugal, Brussels, U.S, Europe, OVHCloud, Italy, Italia, Denmark, Berlin, Paris, French

☆ CNBC Sport: NBC still doesn't have a deal for John Tesh's 'Roundball Rock' theme
▼ + stars: | 2024-11-14 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +15 min

NBC Sports still expects to come to a deal with Tesh, according to a person familiar with the matter. How to value a theme song like "Roundball Rock" is nebulous at best. Any sports fan of the 1990s can tell you that John Tesh's "Roundball Rock" is synonymous with "The NBA on NBC." NBC Sports still expects to come to a deal with Tesh, according to a person familiar with the matter. How to value a theme song like "Roundball Rock" is nebulous at best.

Persons: Alex Sherman, John Tesh, I'm, Tesh, NBC Sports isn't, hasn't, Marv Albert, Bob Costas, NBA hasn't, there's, he's, Mark Wilf, Donald Trump, Wilf, Adam Silver, Silver, NBCU's Peacock, David Zaslav, John Malone, Greg Maffei, Malone, Diamond, That's, Mike Tyson, Jake Paul, it's, CNBC's Lillian Rizzo, Mike Ozanian, –, Juan Soto, Ohtani, Paul Archuleta, John Tesh's Organizations: CNBC, NBA, NBC, NBC Sports, Disney, Amazon, Warner Bros, Fox Sports, Big East, Chicago Bulls, Tesh, Minnesota Vikings, Major League Soccer's Orlando City, Orlando Pride, Vikings, Orlando, Paley Center for Media, Summit, ESPN, TNT, CNBC Sport, Liberty Media, Liberty, Atlanta Braves, Diamond Sports, Major League Baseball, NHL, Fitness, Holdings, Netflix, NFL, Philadelphia Phillies, NBC Sports Philadelphia, Industry, Hallmark, Universal Studios Hollywood, Getty Locations: Nashville, Orlando City, Trump, Texas, London, Universal City , California

☆ SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company's CEO told CNBC. Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump. The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year. In 2024, we've hit or exceeded the plans across all metrics," CEO Jaidev Janardana told CNBC in an interview Wednesday. He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.

Persons: Zopa, we've, Jaidev Janardana Organizations: CNBC, Zopa Locations: LISBON, Portugal, British, U.K

☆ A Singaporean AI startup is trying to disrupt the 100-year-old market research industry
▼ + stars: | 2024-11-14 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +5 min

Finding ways to attract consumers to buy packaged goods stretches back to the 1920s when American psychologist Daniel Starch created the world's first market research study. Founded in Singapore in 2018, the startup provides AI-powered market research with real-time predictive analytics. Rival firms include ZoomInfo Sales, Trajaan and Brandwatch Consumer Intelligence, all of which deploy a variety of technology to comb through consumer data and marketing trends. Somsubhra Gan Choudhuri, co-founder and CEO Ai Palette, said AI can take up much of the brain power usually done by people. Along with VC investors, Ai Palette has had the backing of the Singapore government, which is committing more than three quarters of a billion Singaporean dollars ($7,500,000) to AI development to strengthen its AI ecosystem.

Persons: Daniel, Ai, Gan Choudhuri, CNBC's, Choudhuri, Kellogg, Conor Delahunty, Vishal Harnal Organizations: ZoomInfo, Brandwatch Consumer Intelligence, CNBC Tech, Diageo, Nestlé, Pepsico, Symrise, Global, Venture Locations: Singapore, Thailand, Indonesia, Malaysia, Philippines

☆ It's 'liquidity, stupid': VCs say tech investing is tough amid IPO lull and 'nuts' AI hype
▼ + stars: | 2024-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Edith Yeung, general partner at Race Capital, and Larry Aschebrook, founder and managing partner of G Squared, speak during a CNBC-moderated panel at Web Summit 2024 in Lisbon, Portugal. LISBON, Portugal — It's a tough time for the venture capital industry right now as a dearth of blockbuster initial public offerings and M&A activity has sucked liquidity from the market, while buzzy artificial intelligence startups dominate attention. And in the VC world, it's really all about liquidity stupid," Edith Yeung, general partner at Race Capital, an early-stage VC firm based in Silicon Valley, said in a CNBC-moderated panel earlier this week. When a VC makes an equity investment and the value of their stake increases, it's only a gain on paper. Yeung said the lack of IPOs over the last couple of years had created a "really tough" environment for venture capital.

Persons: Edith Yeung, Larry Aschebrook, G, Portugal —, Groq —, Yeung, there's, Big Techs Organizations: Race Capital, CNBC, Summit, Microsoft Locations: Lisbon, Portugal, LISBON, U.S, Silicon Valley

☆ Instead of job killings, there's a strange AI hiring boom happening, according to Marc Andreessen
▼ + stars: | 2024-11-14 | by ( Alistair Barr | ) www.businessinsider.com time to read: +2 min

Instead of killing jobs, generative AI is fueling a surprising job boom, according to the venture capitalist Marc Andreessen. OpenAI and Google are struggling to significantly improve their next AI models, multiple media reports said this week. That's what makes these AI models smart, and without that, OpenAI and others are hitting a worrying wall. They're a function of the training data," Andreessen said. "And a big part of the AI hiring boom is actually hiring the experts to actually craft the answers to be able to train the AI."

Persons: Marc Andreessen, Horowitz, Andreessen, OpenAI, Ben Horowitz, Andreessen's Organizations: Google, AIs, Business, Andreessen Locations: chimed

☆ The Onion buys Alex Jones' Infowars — and that's not a joke
▼ + stars: | 2024-11-14 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

The Onion, the satirical news site, bought Alex Jones' Infowars at an auction. Jones was found liable for defaming the Sandy Hook families and ordered to pay nearly $1.5 billion. Under The Onion, the revamped Infowars is set to feature ads from Everytown for Gun Safety. AdvertisementThe conspiracy theorist Alex Jones' Infowars has a new home — and it's not the one he wanted. AdvertisementThe Associated Press reported that The Onion would acquire Infowars' social-media accounts, its trademarks, its video archive, and its studio in Austin.

Persons: Alex Jones, Jones, Sandy Hook, —, it's, Infowars, weren't, John Feinblatt, Ben Collins, Collins Organizations: Gun Safety, Service, Safety, Sandy Hook Elementary, Associated Press, New York Times Locations: Austin

☆ VW's $5.8 billion investment in Rivian isn't guaranteed. Here are the milestones the EV maker needs to hit
▼ + stars: | 2024-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — Volkswagen Group increased its planned investment for a joint venture with electric vehicle startup Rivian Automotive to $5.8 billion as the companies have broader aspirations than they initially announced for the team-up. Investors were impressed with the details of the deal, sending shares of Rivian up 13% in trading Wednesday. The companies said they expect roughly 1,000 people to work for the joint venture. But VW's capital to Rivian isn't guaranteed, and neither is the success of the deal. The automotive industry has seen a number of major mergers and joint ventures that don't result in long-term successes.

Persons: Rivian, Rivian isn't Organizations: DETROIT — Volkswagen Group, Automotive, Investors, VW Locations: Normal , Illinois, Georgia, Rivian

☆ Ark's Cathie Wood changed Wall Street. Now, she's set her sights on venture capital.
▼ + stars: | 2024-11-13 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Wood's effort to do something similar for venture capital has delivered investments in many of Silicon Valley's hottest deals. SpaceX, founded by Elon Musk, is Ark Venture Fund's largest holding, accounting for 13% of the fund's total assets. SpaceX is Ark Venture Fund's largest holding, accounting for 13% of the fund's total assets, worth around $9 million. OpenAI makes up just 5% of the Ark Venture Fund's portfolio, which means it has less than $4 million invested. AdvertisementArk Venture Fund charges a flat fee for investing assets under its control, the same as a venture fund.

Persons: Cathie Wood, Brett Winton, Wood, Andreessen Horowitz, Jeff Bezos, Elon Musk, David McNew, Winton, it's, Ark, OpenAI, Donald Trump's, Morningstar, that'll Organizations: Ark Venture Fund, Ark, Investors, Ark Invest, Elon, SpaceX, Ark Venture, Epic Games, Venture Fund Locations: Sequoia

☆ Elon Musk's promise of an 'epic' leaderboard of 'dumb' government spending reveals his marketing savvy
▼ + stars: | 2024-11-13 | by ( Geoff Weiss | Grace Eliza Goodwin | ) www.businessinsider.com time to read: +7 min

Elon Musk says a leaderboard of "dumb" government spending will expose waste — and he wants your two cents. The Tesla CEO said this week that he planned to post a public "leaderboard for the most insanely dumb spending of your tax dollars." While the effectiveness of Musk's leaderboard remains to be seen, experts told Business Insider it showed his marketing savvy — even if it could also encourage "gotcha" moments that need more context. Especially in a dry realm such as government spending, Musk's plans are bound to grab eyeballs — and perhaps make people feel more invested in the outcome. She said there was some precedent for Musk's leaderboard, noting that former Sen. William Proxmire, a Democrat from Wisconsin, issued the "Golden Fleece Award" for wasteful spending throughout the 1970s and '80s via monthly press releases.

Persons: Elon Musk, —, Musk, Donald Trump's, DOGE —, he's, Vivek Ramaswamy, Natalie Andreas, Austin who's, Ayelet, didn't, Musk's, Andreas, Karen North, Clinton, Sen, William Proxmire, It's, screwworms —, Amy Jo Kim, Kim Organizations: Service, Department of Government, University of Texas, Austin, University of Chicago's Booth School of Business, University of Southern California's Annenberg School for Communication, Journalism, Stanford Locations: Wisconsin

☆ Japan is ramping up efforts to revive its once dominant chip industry
▼ + stars: | 2024-11-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

In this article ASMLASML-NLMUINTCSMSD-GB2330-TW Follow your favorite stocks CREATE FREE ACCOUNTJapan is looking to revitalize its semiconductor industry. The Japanese government has unlocked billions of dollars in subsidies for its domestic chip sector. One likely beneficiary of the funding announced Monday will be Japan-based Rapidus, a state-backed chip venture at the heart of the country's chip revitalization efforts. In the 1980s, Japan was the world's dominant chip player and occupied more than half of the global semiconductor market. Through its chip subsidies, which have mostly been geared toward increasing manufacturing capacity, the country should be able to expand into other aspects of the supply and enhance its position, Yang added.

Persons: Shigeru Ishiba, Ishiba, Rapidus, Tetsuro Higashi, Michael Yang, Omdia, Yang, Brady Wang, Wang, Ken Kuo Organizations: MU, Getty, Japan, Toyota Motor, Sony Group, U.S, IBM, Taiwan Semiconductor Manufacturing Co, Samsung, Intel, Micron, CNBC, Counterpoint Research Locations: Japan, Taiwan, South Korea, South, U.S, Netherlands

☆ Waymo opens robotaxis to anyone in Los Angeles, marking its largest expansion yet
▼ + stars: | 2024-11-12 | 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: +2 min

Alphabet-owned Waymo is removing the waitlist for its self-driving service in Los Angeles, marking its largest expansion yet. With more than 3.8 million people, LA marks the third and largest city where the company’s robotaxi service is now fully available. “Now is an exciting time to welcome everyone in Los Angeles along for the ride,” Tekedra Mawakana, co-CEO of Waymo, said in a news release Tuesday. Waymo closed a $5.6 billion funding round in October to expand its robotaxi service across the U.S. Waymo in September announced that it partnered with Uber to launch its robotaxi service in Austin, Texas, in 2025.

Persons: Tekedra Mawakana, ”, Waymo, Andreessen Horowitz, Perry, Rowe Price, That’s, Uber, ” Waymo Organizations: U.S, Google, Fidelity, Tiger Global, Hyundai Locations: Los Angeles, LA, Los Angeles County, San Francisco, Phoenix, Waymo, Silver, Austin , Texas, Korean

☆ London startup Agemo has exited stealth. Now, it's building AI reasoning for software to take on Poolside and Magic.
▼ + stars: | 2024-11-12 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

Agemo has exited stealth with $4 million to build AI that turns text prompts into software. Essentially, this required them to train their AI models to reason like a team of engineers. Agemo finds itself up against the likes of Poolside, which raised $500 million in October, and Magic, which raised $320 million in August. To combat this problem, Agemo is building AI systems that can "reason" in software. AdvertisementEurope's answer to Poolside and MagicTo differentiate it from competitors such as Poolside and Magic, the startup says it has developed a neurosymbolic AI system for software reasoning.

Persons: Agemo, Aymeric Zhuo, Osman Ramadan, —, IBM's Jonathan Adashek, Mehdi Ghissassi, Olivier Pomel, Zhuo, Ramadan, ChatGPT, we've, We've Organizations: Service, Firstminute Capital, Mistral, Fly Ventures, Cambridge University, Microsoft, Activision, BI Locations: DeepMind, OpenAI, Sudan, London, Europe, Bay

☆ Rashaun Williams: Crypto fundamentals will 'outstripe' technicals as mainstream adoption occurs
▼ + stars: | 2024-11-12 | 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 EmailRashaun Williams: Crypto fundamentals will 'outstripe' technicals as mainstream adoption occursRashaun Williams, venture capitalist and Atlanta Falcons limited partner, joins CNBC's 'Closing Bell' to discuss outlooks on crypto, sports investing, and more.

Persons: Rashaun Williams Organizations: Atlanta Falcons

☆ Rivian-Volkswagen joint venture up deal to $5.8 billion, VW cars expected as early as 2027
▼ + stars: | 2024-11-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Rivian Automotive and Volkswagen Group have released details of their previously announced joint venture ahead of the operations launching Wednesday. The name of the joint venture, which was expected to close during the fourth quarter, is "Rivian and VW Group Technology, LLC." At the closing of the joint venture, VW will invest about $1.3 billion "as consideration for background IP licenses and a 50% equity stake in the joint venture." The joint venture will be headed by Rivian Chief Software Officer Wassym Bensaid and VW Group Chief Technical Engineer Carsten Helbing. The companies said developers and software engineers from both companies will join the joint venture.

Persons: Oliver Blume, RJ Scaringe, We're, Rivian, Scaringe, Wassym, Carsten Helbing Organizations: Volkswagen Group, Rivian Automotive, VW, Volkswagen, VW Group Technology, Rivian, VW Group Locations: Rivian, Normal , Illinois, Georgia, Palo Alto , California, North America, Europe

☆ Waymo opens robotaxi service to anyone in Los Angeles, marking its largest expansion yet
▼ + stars: | 2024-11-12 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Alphabet -owned Waymo is removing the waitlist for its self-driving service in Los Angeles, marking its largest expansion yet. With more than 3.8 million people, LA marks the third and largest city where the company's robotaxi service is now fully available. "Now is an exciting time to welcome everyone in Los Angeles along for the ride," Tekedra Mawakana, co-CEO of Waymo, said in a news release Tuesday. Waymo closed a $5.6 billion funding round in October to expand its robotaxi service across the U.S. Waymo in September announced that it partnered with Uber to launch its robotaxi service in Austin, Texas, in 2025.

Persons: Waymo, Andreessen Horowitz, Perry, Rowe Price, That's, Uber Organizations: U.S, Google, Fidelity, Tiger Global, Hyundai Locations: Los Angeles, LA, Los Angeles County, San Francisco, Phoenix, Waymo, Silver, Austin , Texas, Korean

☆ Stocks making the biggest moves after hours: Spotify Technology, Cava, Rivian Automotive and more
▼ + stars: | 2024-11-12 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Skyworks reported adjusted earnings of $1.55 per share, while analysts polled by LSEG had forecast $1.52 per share. Analysts polled by LSEG expected a profit of 22 cents per share on revenue of $844 million. Rocket Lab forecasted fourth-quarter revenue of $125 million to $135 million, besting the Street's estimate for $122 million, per LSEG. Flutter reported third quarter adjusted earnings of 43 cents per share on revenue of $3.25 billion. That topped the Street's estimates for 10 cents per share in earnings and revenue of $3.07 billion.

Persons: Skyworks, LSEG, Cava, Maplebear —, Fred Imbert, Darla Mercado Organizations: Spotify Technology, Spotify, Occidental Petroleum —, Occidental Petroleum, Volkswagen Group, Rocket

☆ Watch CNBC's full interview with Rashaun Williams
▼ + stars: | 2024-11-12 | 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 EmailWatch CNBC's full interview with Rashaun WilliamsRashaun Williams, venture capitalist and Atlanta Falcons limited partner, joins CNBC's 'Closing Bell' to discuss outlooks on crypto, sports investing, and more.

Persons: Rashaun Williams Rashaun Williams Organizations: Atlanta Falcons

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