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Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.
Persons: , Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London
OpenAI chief Sam Altman urged would-be founders to bet on AI. Despite their current feud, Altman said he was "very grateful" for Elon Musk's early backing. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAnd despite their contentious relationship today, Altman said he was "very grateful" to Elon Musk for helping to fund OpenAI in its early days. OpenAI hit back last month, saying Musk was harassing the company for "his own competitive advantage" in the name of his rival firm, xAI.
Persons: Sam Altman, Altman, Elon Musk's, , Y, Garry Tan, you've, Elon Musk, Musk, OpenAI, it's Organizations: Service, Business
It reignites a debate about the feasibility of developing increasingly advanced models and AI scaling laws — the theoretical rules about how the models improve. It remains to be seen how smart an AI model can get when it has that much capital thrown at it. There could also be strategies to make AI models smarter by enhancing the inference portion of development. The model OpenAI released in September — called OpenAI o1 — focused more on inference improvements. Still, it's clear that, like Altman, much of the industry remains firm in its conviction that scaling laws are the driver of AI performance.
Persons: OpenAI's, It's, , Sam Altman, Fabrice Beaulieu, Altman, OpenAI, Andrew Caballero, Reynolds, Ion Stoica, Gary Marcus, Anthropic, Marcus, Claude, Ilya Sutskever, Dario Amodei, Kevin Scott, we're, Scott, they've Organizations: Service, OpenAI's, Orion, Business, Getty, Companies, New York University, Reuters, Sequoia, o1 Locations: GPT, Silicon Valley, AFP
OpenAI acquired the URL "chat.com," which now redirects to ChatGPT. Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
But the South Korea electronics giant has now fallen behind its long-time rival SK Hynix in next-generation chips that have been key component for AI silicon leader Nvidia . For years, Samsung was the undeniable leader in this technology, ahead of South Korean rival SK Hynix and U.S. competitor Micron . SK Hynix saw this opportunity. SK Hynix posted record quarterly operating profit in the September quarter. "It is fair to say that Samsung has not been able to close the gap with SK Hynix on the HBM development roadmap," Morningstar's Ito said.
Persons: SeongJoon Cho, HBM, Kazunori Ito, Brady Wang, Morningstar's Ito Organizations: Samsung Electronics Co, Bloomberg, Getty, Samsung Electronics, SK Hynix, Nvidia, Samsung, Micron, Morningstar, CNBC, U.S, Counterpoint Research, South Locations: Seoul, South Korea, South Korean, HBM
Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. The domain was previously owned by HubSpot founder and CTO Dharmesh Shah, who confirmed that he sold the domain to OpenAI after buying it in 2023. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
Generative AI wasn't part of the lexicon for most of us during President-elect Donald Trump 's first four years in the White House. At a high level, generative AI is a cutting-edge form of technology that will shape the next decade and beyond. While the AI field has been around for decades, generative AI applications can create new content, including computer code, human-like text and images, in response to user prompts. Those that lead in generative AI will very likely shape the world as we know it. With 5G, Trump didn't just hope the U.S. could just fun faster than everyone else.
Persons: Donald Trump, ChatGPT, Kamala Harris, Trump, Elon Musk, OpenAI, JD Vance, Vance, Joe Biden's, Trump's, OpenAI's Sam Altman, Alphabet's Sundar Pichai, Jim Cramer, it's, Jim, they're, Jim Cramer's, Callaghan Organizations: Trump, Billionaire, Republican, Big Tech, Republican Party's, GOP, 5G, Mobile, Sprint, Verizon, Nvidia, Microsoft, Huawei, Biden, Deutsche Bank, South China, Taiwan Semiconductor Manufacturing, Apple, Washington, Intel, Eaton, Trust, CNBC, Convention Center, Callaghan O'hare Locations: Ohio, U.S, United States, America, We've, China, Taiwan, South, Beijing, Palm Beach, West Palm Beach , Florida
Duolingo's Wednesday earnings call started with an AI chatbot demonstration. The chatbot, Lily, summarized the company's performance this quarter. The purple-haired chatbot, which sounded like a bored, sarcastic teenager, replaced CEO Luis von Ahn at the beginning of the video call. "Our new Duolingo Max feature video call lets learners chat with me," the chatbot said. AdvertisementWhile Lily was largely a gimmick for the earnings call, the impact of AI has been a persistent theme in earnings this year.
Persons: Lily, Duolingo, , Luis von Ahn, Von Ahn, OpenAI's, Piper Sandler's Arvind Ramnani, Gen, didn't Organizations: Service, Meta, Microsoft
Anthropic has been gaining on arch rival OpenAI in recent months, according to data from a popular developer tool offered by startup Vercel. In the week of August 18, the OpenAI code library was downloaded almost 229,000 times by developers. Data from Vercel's AI SDK toolkit VercelA top executive at Vercel attributed the recent adoption trends partly to a new AI model that Anthropic released in the summer. That's because many AI model providers have adopted OpenAI's API specification as a de facto standard. AdvertisementAn OpenAI spokesperson said usage of the startup's API has doubled since it released its GPT-4o mini AI model in July.
Persons: Anthropic, OpenAI, Sweta Patel, Claude, Jared Palmer, Sonnet, There's, Dianne Penn, Penn, DoorDash Organizations: Vercel
Qualcomm pops 10% on chipmaker's earnings and revenue beat
  + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter. The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023. Qualcomm reported a 12% increase in handset chip sales to $6.1 billion, in line with FactSet estimates. The company's profitable technology licensing business, QTL, reported $1.52 billion in revenue, a 21% increase over the same period last year.
Persons: Akash Palkhiwala, Cristiano Amon Organizations: Qualcomm, Apple, Nvidia, Quest, Microsoft
AdvertisementThe 2024 presidential election has been called, and this year voters had the option to follow along with AI-enabled search tools. AdvertisementOpenAI's ChatGpt-4o, Perplexity AI, Google Search and Google Gemini, Microsoft's consumer CoPilot, and X's Grok were prompted with the following questions:Who will win the presidential election? Who won the presidential election? The top of the AI search results included the latest news articles about the election and a ticker for the Electoral College. Perplexity AI's election tool answers a question about the 2024 Presidential election.
Persons: ChatGPT, Copilot, , OpenAI's, X's Grok, Elon, Grok, Douglas Adams, Elon Musk, Helen Li, Perplexity, Kento Morita, Morita Organizations: Google, Service, Associated Press, Reuters, Business, Trump, Microsoft, Gemini, Electoral College
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElection will come down to 'blue wall' of Pennsylvania, Michigan and Wisconsin, says OpenAI's LehaneChris Lehane, OpenAI's vice president of global affairs discusses the election night results thus far, and tech's positioning for each presidential hopeful.
Persons: OpenAI's, Chris Lehane Locations: Pennsylvania, Michigan, Wisconsin
OpenAI has hired Meta's former hardware lead to head up its robotics team. Caitlin Kalinowski previously led Meta's AR glasses hardware team. Caitlin Kalinowski, who served as Meta's head of AR glasses hardware until July, said she was joining OpenAI to lead the company's robotics and consumer hardware efforts. "Thank you to the OpenAI team, Sam, Kevin Weil, PW, and to my friends and colleagues in engineering and beyond!" In May, Forbes reported that OpenAI had been hiring research engineers to rebuild the previously abandoned robotics team, something the company later confirmed.
Persons: OpenAI, Caitlin Kalinowski, Kalinowski, , Sam, Kevin Weil, Orion, Jony, Laurene Powell Jobs, Steve Jobs Organizations: Service, Orion, Forbes, Intelligence, Apple, The New York Times, Business
Nvidia passes Apple as world's most valuable company
  + stars: | 2024-11-05 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
Nvidia passed Apple in market cap on Tuesday becoming, for a second time, the most valuable publicly traded company in the world. Nvidia rose nearly 3% to close with a market cap of $3.43 trillion, ahead of Apple at $3.4 trillion. Nvidia is the dominant supplier of GPUs, which are used to develop and deploy advanced AI software such as OpenAI's ChatGPT. Apple was the first company to reach a $1 trillion and a $2 trillion market cap. S&P Dow Jones announced last week that Nvidia will join the Dow Industrial Average on Friday, replacing longtime rival Intel , and joining Apple in the blue-chip index.
Persons: Jensen Huang, OpenAI, Dow Jones Organizations: NVIDIA, Center, Washington , D.C, Nvidia, Apple, Apple Intelligence, Microsoft, Dow, Intel Locations: Washington ,
The former head of Meta's Orion augmented reality glasses initiative has joined OpenAI to lead the startup's robotics and consumer hardware efforts. OpenAI has gained popularity for its viral chatbot, ChatGPT, but the hiring underscores its apparent efforts to move into building and selling hardware. Former Apple exec Jony Ive, who helped design some of Apple's most iconic products from the iMac to the iPhone, has also partnered with OpenAI to create an AI device. The startup focuses on "bringing general-purpose AI into the physical world," per its website, and it aims to do this by developing large-scale artificial intelligence models and algorithms to power robots. Kalinowski's first day on the job at OpenAI is Tuesday, Nov. 5, per a LinkedIn post.
Persons: Orion, OpenAI, Caitlin, CK, Kalinowski, Jony, Jeff Bezos, Meta Organizations: Apple, Physical Intelligence, Amazon, Lux Capital, Bond Capital, Meta, Orion, Pro Locations: San Francisco, OpenAI
But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men. And recent data from the UK shows that only about 4% of AI startups in the country have women founders. Developing relationships with other women working in the AI space has become a vital lifeline, she said. There were plenty of women interested in building AI companies, she said. AdvertisementThis observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups.
Persons: Saumya Bhatnagar, Bhatnagar isn't, Fei Fei Li, Daniela Amodei, Mira Murati, it's, Bhatnagar, she's, I'm, Vivien Ho, Ho, they're, Forbes, Rejpal, Rajpal, Stephanie Guo, Guo Organizations: Deloitte, Bay Area, FFC, Pear, Zetta Venture Partners, Bloomberg Beta, GitHub, Sapphire Ventures Locations: Bay, San Francisco
Perplexity AI, the artificial-intelligence search engine startup, is in the final stages of raising $500 million in funding at a $9 billion valuation, a source familiar with the situation told CNBC. Perplexity most recent valuation was $3 billion in June. Perplexity started the year with a roughly $500 million valuation. Despite the AI boom, Perplexity has been embroiled in controversy due to accusations of plagiarizing content from media outlets. WATCH: Perplexity unveils AI election hub: Here's what you need to know
Persons: Perplexity, OpenAI, Microsoft's Bing, Der Spiegel, Dmitry Shevelenko, Shevelenko Organizations: CNBC, Google, Institutional Venture Partners, New York Times, Media, The Texas Tribune, WordPress Locations: ChatGPT
Altman also emphasized saying no, echoing Steve Jobs' leadership philosophy. AdvertisementThe leadership traits that Sam Altman values may sound familiar to those who have studied Steve Jobs and Warren Buffett. Altman said the team tries to be "rigorous" about straying away from "fantastical dreams" or goals — a strategy reminiscent of the late Apple cofounder Steve Jobs. Advertisement"The main thing I stressed was focus," Jobs had said about his visit to Larry Page, biographer Walter Isaacson wrote in the Harvard Business Review. "The difference between successful people and really successful people is that really successful people say no to almost everything," the Berkshire Hathaway CEO once said.
Persons: Sam Altman, Altman, Steve Jobs, Warren Buffett, , Kevin Weil, Jobs, Larry Page, Walter Isaacson, Apple's, Jerry Yang, Insider's Nicholas Carlson, Marissa Mayer, — that's, Alman, Sora Organizations: Service, Apple, Harvard Business, Yahoo, Stanford University, Conference, Berkshire Hathaway Locations: Hollywood
"Dealing with social anxiety can be challenging, but there are several approaches that might help," the bot responded. "Cathy represents our innovative approach to leveraging technology in support of spiritual exploration," says Rev. Lorenzo Lebrija, the founding director of TryTank and an Episcopal priest. But they've designed it to help spiritual seekers talk about subjects they feel "vulnerable or defensive" about. John Brandon is a journalist who has published over 15,000 articles on social media, technology, leadership, mentoring, and many other topics.
Persons: Cathy, It's, Lorenzo Lebrija, Lebrija, Andrew Doyle, Jesus, Chatbot Eli, Gita GPT, Father Justin, they've, Elon Musk, Joshua K, Smith, I'm Cathy, Sam Altman, Thomas Telving, Richard Zhang, I've, , Rev, Doyle, Telving, John Brandon Organizations: TryTank Research, Episcopal, Episcopal Church, of, Gatorade, Google Locations: of Texas
CEO Sam Altman explained the company's shift to closed AI models in a Reddit AMA on Thursday. AdvertisementWhy doesn't OpenAI open-source the AI models behind ChatGPT if the company is called OpenAI? Altman responded that open source "plays an important role in the ecosystem and there are great open source models in the world." The comments from Altman follow a year in which OpenAI has received criticism for no longer open-sourcing its AI models. "There is no single open source AI definition, and defining it is a challenge because previous open source definitions do not encompass the complexities of today's rapidly advancing AI models," the spokesperson said.
Persons: OpenAI, Sam Altman, , Altman, Elon Musk, ChatGPT, Musk, Ilya Sutskever, Mark Zuckerberg, OpenAI's GPT Organizations: Service, Microsoft, OpenAI, Meta, OSI
Brundage was a key figure in AGI research at OpenAI. He was also responsible for some of OpenAI's biggest safety research innovations, including external red teaming, which involves bringing outside experts to look for potential problems in the company's products. AdvertisementBrundage said his departure, at least, was not motivated by specific safety concerns. "I'm pretty confident that there's no other lab that is totally on top of things," he told Hard Fork. He told Hard Fork that he still stands by the decision and elaborated on why he left.
Persons: Miles Brundage, OpenAI, Brundage, , we're, John Schulman, AGI, Dario Amodei, Anthropic Organizations: Service, AGI
AdvertisementWhen Morgan Stanley and OpenAI announced their blockbuster partnership at the beginning of 2023, it signaled a competitive advantage for the Wall Street bank. Morgan Stanley, since then, has co-developed a handful of generative AI tools with the AI powerhouse for its lucrative wealth-management business. Morgan Stanley is far from the only financial firm using OpenAI. In his new role, Manahan oversees the bank's innovation council, which launched at the beginning of the year. The council is dedicated to identifying the bank's technology focuses.
Persons: Sean Manahan, Morgan Stanley's, , Morgan Stanley, OpenAI, Andy Saperstein, Jeff McMillan, Manahan, Morgan Stanley execs Organizations: Service, York, Tech, Big Tech, Morgan Locations: Silicon Valley, Manhattan, Manahan, New York
New York Attorney General Letitia James speaks during a press conference at the Office of the Attorney General in New York on February 16, 2024. With four days until the presidential election, U.S. government officials are cautioning against reliance on artificial intelligence chatbots for voting-related information. "Study after study has shown examples of AI chatbots hallucinating information about polling locations, accessibility of voting and permissible ways to cast your vote." "We agree with the NY Attorney General that voters should consult official channels to understand where, when, and how to vote," an Anthropic spokesperson told CNBC. "For specific election and voting information, we direct users to authoritative sources as Claude is not trained frequently enough to provide real-time information about specific elections."
Persons: Letitia James, Donald Trump, Kamala Harris, James, It's, Alexandra Reeve Givens, chatbots, Claude, OpenAI, ChatGPT, it's Organizations: New, New York, Republican, Democratic, Center for Democracy & Technology, CNBC, Google, NY Locations: New York, U.S, Mistral
Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. It was found to outperform some other AI models that were roughly 90% as capable as OpenAI's powerful ChatGPT-4. The researchers didn't elaborate on how they defined performance or specify whether the AI model had been put into service. Meta has embraced the open release of many of its AI models, including Llama.
Persons: Army's, Meta META.O, ChatBIT, Sunny Cheung, Meta Organizations: People's Liberation Army, Reuters, PLA, Academy of Military Science, Meta, Jamestown Foundation Locations: China, U.S
Among them are Anthropic, Elon Musk's xAI, OpenAI cofounder Ilya Sutskever's Safe Superintelligence, and AI search startup Perplexity. The last of the five rivals, and perhaps the least well-known, is Glean, an enterprise search assistant. Founded in 2019 by Rubrik cofounder and ex-Googler Arvind Jain, Glean helps corporate workers find information across their companies' tools and data. Related Video Sam Altman moves to Microsoft after OpenAI fires him as CEOThe company enables AI search by integrating apps like Slack and Dropbox and powering search across their company's universe of data. AdvertisementBesides enterprise search, Glean also has an AI assistant that generates answers based on search results, such as summarizing the day's Slack messages or synthesizing multiple documents.
Persons: Glean, Jain, , Sam Altman, Elon Musk's, Ilya Sutskever's, Googler Arvind Jain, Kleiner Perkins, Deedy Das, Larry Page, Das, Bipul Sinha, Rubrik, Mamoon Hamid, Vishwanath, Tony Gentilcore, Piyush Prahladka, , Arvind, Hamid, Paul, Rajeev Dham, they're, Slack, Altman, It's Organizations: Google, Service, Elon Musk's xAI, DST Global, Sapphire Ventures, Sequoia, Microsoft, Sony Electronics, Entrepreneurship, Indian Institute of Technology, IIT, Menlo Ventures, IIT Delhi, University of Washington, Akamai Technologies, Technology, YouTube, Kleiner Locations: Jaipur, Indian, IIT Delhi, India, Glean, Seattle
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