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☆ UBS says AI may be one of the 'largest investment opportunities in human history.' Here's the bank's 4-step approach for investing in the technology.
▼ + stars: | 2024-06-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.

Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China

Learn moreThe 2024 Men's College World Series is about to crown a new baseball champion, and you can watch all of the action from home. Keep reading to learn how to watch the Men's College World Series Championship to see whether Tennessee or Texas A&M will walk away the victor. The Men's College World Series kicked off on June 14 in Omaha and has steadily whittled down to two teams. How to watch the Men's College World Series in the USGame 1 will air on Saturday at 7:30 p.m. See at ESPNIf you're looking for a little more of an elaborate live TV streaming option, you can try out Sling TV or Fubo.

Persons: There's, ExpressVPN Organizations: Business, Men's, LSU, Tennessee, Texas, ESPN, ABC, MLB, NHL, NFL, UFC, Hulu, Disney Plus Locations: Tennessee, Texas, Omaha, North Carolina

☆ Jensen Huang's Nvidia sure hopes the AI bubble doesn't burst anytime soon
▼ + stars: | 2024-06-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

AdvertisementHowever, Nvidia's run faces one big risk: it depends on the generative AI boom lasting. Though tech giants, including Apple, Google, Meta, and Microsoft, now appear to have made generative AI their priority, there appears to be awareness of the technology's weaknesses. Google, for instance, was forced to apologize earlier this year after its generative AI image generator created historically incorrect images in response to user requests. For now, though, the industry seems intent on moving ahead with LLM-enabled generative AI. That should keep Nvidia in the race with Microsoft and Apple to a $4 trillion valuation.

Persons: —, Jensen Huang, they've, Dan Ives, Huang, Tim Cook, Yann LeCun Organizations: Service, Nvidia, Microsoft, Apple, Business, Meta, Google, Blackwell, Apple Intelligence, Financial Locations: Taipei

That sent lower courts scurrying into historical analyses to figure out if modern gun laws had some connection to the 18th Century. Roberts’ opinion said that lower courts were misunderstanding what the majority had said in that ruling. But Justice Ketanji Brown Jackson, a member of the court’s liberal wing, suggested it was the high court’s fault for not providing clarity for lower courts to follow. One deals with a Pennsylvania man’s challenge to a federal law prohibiting felons, including those who are non-violent, from possessing firearms. Solicitor General Elizabeth Prelogar presented that argument with an eye toward several other challenges pending to similar federal gun prohibitions that involve non-violent criminal activity.

Persons: John Roberts, Zackey Rahimi, ” Roberts, Donald Trump, Roberts, Ketanji Brown Jackson, Neil Gorsuch, Brett Kavanaugh, Kavanaugh, Amy Coney Barrett, ” Barrett, ” Thomas ’, Bruen, Clarence Thomas, Thomas, Elie Honig, SCOTUS, Rahimi, ” Thomas, Hunter Biden, Hunter, Biden, Daniels, Steve Vladeck, ”, Elizabeth Prelogar Organizations: CNN, Supreme Court, New York, Trump, US, Appeals, Supreme, Circuit, University of Texas School of Law Locations: Texas, New, Bruen, Mississippi, Delaware, Pennsylvania, Illinois

And yet, the brain does incredible things," said Matt Angle, CEO and founder of Paradromics, in an interview with CNBC Tech: The Edge. The trial would follow competitor Neuralink, which implanted a chip into a patient's brain in March this year. "Paradromics' mission is to transform otherwise untreatable health conditions in brain health into solvable technology problems. "Paradromics can take the science and apply the right engineering to get us from research to medical device," he added. "We see that the first million people to get brain computer interfaces are going to be getting them to treat severe medical conditions," Angle said.

Persons: Matt Angle, Elon Musk, Angle, Vikash Gilja, Gilja, we're Organizations: CNBC Tech, CNBC Locations: Austin , Texas

☆ Supreme Court upholds law barring domestic abusers from owning guns in major Second Amendment ruling
▼ + stars: | 2024-06-21 | by ( John Fritze | ) edition.cnn.com time to read: +5 min

CNN —The Supreme Court upheld a federal law Friday that bars guns for domestic abusers, rejecting an argument pressed by gun rights groups that the prohibition violated the Second Amendment. The 8-1 decision lands as the nation continues to grapple with gun violence and mass shootings. A roiling political debate over firearms has left Washington unable to pass new gun laws. The decision could help shore up similar federal gun regulations that have been challenged since the Supreme Court vastly expanded gun rights in 2022. Rahimi’s lawyers claimed that the Supreme Court’s blockbuster decision two years ago meant that the law on domestic violence orders could not be squared with the Constitution.

Persons: John Roberts, Roberts, ” Roberts, ”, Steve Vladeck, Clarence Thomas, “, ” Thomas, Zackey Rahimi, Thomas, Biden, Joe Biden’s, Hunter, ” Biden, Alito, Samuel Alito Organizations: CNN, University of Texas School of Law, New York, Government, Appeals, Supreme Locations: Washington, State, New, Texas, Bruen, New Orleans

☆ Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago, according to one of the lenders involved. A network of eight banks held $109 million in deposits for Yotta customers as of April 11, Evolve Bank & Trust said in a bankruptcy court letter filed late Thursday. About one month later, the ledger showed just $1.4 million in Yotta funds held at one of the banks, Evolve said. Yotta CEO and co-founder Adam Moelis said in response to this article that Synapse has said in court filings that Evolve held nearly all Yotta customers deposits. "According to the Synapse trial balance report provided on May 17, there are $112 million of customer funds held at Evolve," Moelis said.

Persons: Adam Moelis, Moelis Organizations: Evolve Bank, Trust, Evolve, Synapse, Federal Reserve, Fed Locations: Memphis , Tennessee

☆ Apple Intelligence won't launch in EU in 2024 due to antitrust regulation, company says
▼ + stars: | 2024-06-21 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 10, 2024. Apple said Friday it won't release three recently announced features, including its flagship "Apple Intelligence" AI product, in the European Union in 2024 due to "regulatory uncertainties" stemming from the bloc's Digital Markets Act antitrust regulation. Apple Intelligence can proofread writing or even rewrite it in a friendly or professional tone. Apple saw 2023 net sales of $94.3 billion in Europe, just under a quarter of its worldwide net sales. Apple Intelligence also won't be available in Greater China, which accounted for $72.6 billion of its 2023 sales.

Persons: Tim Cook, Apple Organizations: Apple Inc, Apple Worldwide, Apple, Apple Intelligence, European Union, bloc's, EU, Microsoft, OpenAI, European Locations: Cupertino , California, Europe, Greater China

☆ Awkward Chinese youths are paying AI love coaches $7 weekly to learn how to talk on dates
▼ + stars: | 2024-06-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Read previewSocially awkward and chronically single Chinese youth are turning to AI-powered love coaches to boost their dating game, according to a new report from the South China Morning Post. Unsure of what to say during dates or how to flirt, some youths are using AI applications like "RIZZ.AI" and "Hong Hong Simulator" to learn how to talk to potential love interests, the SCMP reported, citing posts on the app seen on Chinese social media. A 2023 survey by the China Youth Daily Social Survey Center found that young people in China report lacking social skills and having trouble breaking out of their comfort zones and making friends. AdvertisementWith the RIZZ.AI app, nervous youth can interact with fictional characters in scenario settings they must navigate. Screenshot/RIZZ.AIA more China-tailored app, Hong Hong Simulator, teaches users how to coax angry partners, per the SCMP.

Persons: —, Maddie, Kristen, ChatGPT, DAN, Lisa Organizations: Service, South China Morning, Hong, Business, China Youth Daily Social Survey Center Locations: China

☆ OpenAI competitor Anthropic announces its most powerful AI yet
▼ + stars: | 2024-06-20 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNTJakub Porzycki | Nurphoto | Getty ImagesOpenAI competitor Anthropic on Thursday announced Claude 3.5 Sonnet, its most powerful artificial intelligence model yet. Anthropic, which was founded by ex-OpenAI research executives, has backers including Google, Salesforce and Amazon . The company said Claude 3.5 Sonnet is faster than its previous leading model, Claude 3 Opus, and is the first model from Anthropic's new Claude 3.5 family. Zoom In Icon Arrows pointing outwards Claude 3.5 SonnetClaude 3.5 Sonnet is free from the company's website, Claude.ai, and in the Claude iPhone app. Zoom In Icon Arrows pointing outwards Claude Artifacts

Persons: Jakub Porzycki, Anthropic, Claude, it's, OpenAI's, Opus, Claude Pro, Claude chatbot Organizations: Nurphoto, Getty, Google, Team

Stifel raised its price target on Nvidia to $165, implying more than 20% upside. Analyst Andrew Boone also set a price target of $38, corresponding to a nearly 22% increase from Tuesday's close. — Lisa Kailai Han 6:06 a.m.: Stifel raises its price target for shares of Nvidia Stifel raised its price target for Nvidia in a recent note. Roy added that his new price target was also based on his new earnings estimate for the fiscal year 2027. — Lisa Kailai Han 6:06 a.m.: KeyBanc raises Meta Platforms price target Strong ad momentum will drive more gains for Meta Platforms shares, according to KeyBanc.

Persons: Stifel, Piper Sandler, Kumar, Harsh, — Lisa Kailai Han, Andrew Boone, Life360, Boone, Nvidia Stifel, Ruben Roy's, Roy, Lisa Kailai Han, Justin Patterson, Patterson, Meta, Fred Imbert Organizations: CNBC, Nvidia, Devices, AMD, Life360, Automotive, Meta Locations: Tuesday's, Meta

☆ Instagram and TikTok are chasing after 'close friends' as the social web goes private
▼ + stars: | 2024-06-20 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewThere's a new app that promises to connect you with your closest friends — only this time, it's coming from TikTok. The app, dubbed Whee, pitches itself as a platform to "keep you connected with your close friends through life's spontaneous moments." Whee's arrival on the charts — it's 27th among social-networking apps in Apple's App Store, outranking Skype and Signal — comes as Instagram is also leaning into features for close friends. After spending years leaning into influencer content, to the chagrin of some users, the big social platforms are betting big on close friends. But as the platforms prioritized creator-made content, like on Instagram reels, everyday users' content seemed to take a back seat.

Persons: —, Snapchat, They're, Mervana Parekh, Nathan Sharp, influencers, Adam Mosseri, YouTubers Colin, Samir, Mosseri Organizations: Service, Android Police, Business, Skype, Acrew, Retro Locations: TikTok

☆ TikTok Lays Out Past Efforts to Address U.S. Concerns
▼ + stars: | 2024-06-20 | by ( Sapna Maheshwari | ) www.nytimes.com time to read: +1 min

TikTok, the popular video app facing a new law that could lead it to being banned in the United States, released details Thursday about numerous confidential meetings with top federal officials as it tried to address concerns about the company’s Chinese ownership. The details of those interactions, TikTok said in a court filing, show that the federal government “ceased substantive engagement” with the company on its efforts in September 2022. TikTok said that a ban would violate the First Amendment. The new documents include a 90-page proposal from TikTok about how it planned to address concerns among American national security officials about the app, including worries that the Chinese government could use it to spread propaganda or collect sensitive user data. The Biden administration never blessed TikTok’s proposal, known as Project Texas, despite much back and forth about it with the company.

Persons: TikTok, “, Biden Organizations: Texas Locations: United States

☆ Marathon, not a sprint: Apple's AI push faces big challenges in China
▼ + stars: | 2024-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Apple Siri AI icon is being displayed on a smartphone, with Apple Intelligence in the background. Apple Intelligence is the Cupertino giant's play that aims to bring AI across its devices. Apple's China AI challengesNavigating these rules will be tricky for Apple. "Localising the Apple Intelligence experience will be a major challenge for Apple," Wood told CNBC. CCS Insights' Wood said Apple's focus on privacy could help introduce AI features to the market.

Persons: Siri, Jonathan Raa, Apple, Bryan Ma, Nicole Peng, Ben Wood, Wood, Neil Shah Organizations: Apple Intelligence, Nurphoto, Getty, Huawei, CNBC, Apple, IDC, Baidu, Insight, Counterpoint Research Locations: China, Beijing, Cupertino

☆ New York governor signs bill regulating social media algorithms, in a US first
▼ + stars: | 2024-06-20 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

CNN —Big changes are coming for New York’s youngest social media users after Gov. The unprecedented move makes New York the first state to pass a law regulating social media algorithms amid nationwide allegations that apps such as Instagram or TikTok have hooked users with addictive features. New York officials hailed the legislation as a critical check on social media platforms’ influence over teens. “Algorithmic curation makes teenagers’ feeds healthier, and banning algorithms is going to make social media worse for teens.”The legislation’s signing sets the stage for another in a long string of court battles over state social media laws. States such as Arkansas, Florida, Louisiana and many others have passed laws clamping down on social media companies’ approach to teens.

Persons: Kathy Hochul, Vivek Murthy, ” Hochul, Letitia James, ” James, ”, Adam Kovacevich Organizations: CNN, New, Gov, New York Child Data, New York, of, Industry Locations: New York, “, Arkansas, Florida , Louisiana, Ohio, Texas, Florida

☆ How Nvidia is now worth more than Apple
▼ + stars: | 2024-06-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But these multigenerational brand names are now trailing behind Nvidia, suddenly the most-valuable public company in the world. With a market value of over $3 trillion, Nvidia is worth more than most countries’ entire economies. All that demand for Nvidia chips surely must’ve increased competition, right? All that means is demand for Nvidia chips isn’t going away any time soon but that competition will continue to grow more fierce. Before we know it, another company with a name most people can’t pronounce will be referred to as the next Nvidia.

Persons: New York CNN —, chipmaking, “, Jensen Huang, Huang, OpenAI, it’s Organizations: New, New York CNN, Apple, Microsoft, Google, Nvidia, Meta, IBM Locations: New York, Denny’s, Silicon Valley

☆ Inside Paradromics, the Neuralink competitor hoping to commercialize brain implants before the end of the decade
▼ + stars: | 2024-06-20 | by ( Maria Gomez De Sicart | ) www.cnbc.com time to read: +4 min

We're fundamentally building a medical device to serve unmet needs. What that does is it allows us to connect to the brain and receive data from the brain. And so Paradromics can take the science and apply the right engineering to get us from research to medical device. I work on developing processes or selecting the materials that we would like to use to build our cortical module, which is the brain implant portion of our system. We see that the first million people to get brain computer interfaces are going to be getting them to treat severe medical conditions.

Persons: Matt Angle, Paradromics, They're, I'm, Kimiko Nakajima, we're Organizations: BCI

☆ TikTok ramps up attacks on Biden administration in challenging prospective ban
▼ + stars: | 2024-06-20 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

Whether the Biden administration overlooked a less restrictive alternative could become a factor in a potential test of the law’s constitutionality. In Thursday’s filing, TikTok said the agreement was never signed despite years of negotiations and dozens of meetings and phone calls with US government officials. The Trump administration tried to ban TikTok by executive action, but that was quickly stymied by legal challenges. US officials have not publicly presented evidence that China has accessed US users’ TikTok data. On Thursday, TikTok’s filing said the company has so far spent $2 billion voluntarily implementing Project Texas.

Persons: TikTok, Biden, Joe Biden, “, CFIUS, ’, Trump, Christopher Simkins, Simkins Organizations: CNN, US Air Force, Foreign Investment, Meta, Independent, Texas Locations: United States, TikTok, China

I've tested more than 40 air fryers, including 11 compact units, and the best small air fryer you can buy is the Dreo Aircrisp Pro Air Fryer. Dreo Aircrisp Pro Air Fryer The Dreo Aircrisp Pro Air Fryer is the best compact air fryer we tested, making it perfect for single servings of wings and fries. Cooking performanceThe Dreo Aircrisp Pro Air Fryer produced fast food restaurant-quality fries from frozen in nine minutes. The bottom lineWhile it has its negatives, the Dreo Aircrisp Pro is the best small air fryer you can buy, according to my testing. James Brains/InsiderBased on my testing, the Dreo Aircrisp Pro is the best small air fryer you can buy.

Persons: fryer, Pro Air Fryer, Fries, Presets, James Brains, Maillard, Crisp, Jen Gushue Organizations: Business, Pro Air, Pro, Amazon

☆ Once you hit this credit score 'you're good,' says credit expert—here's how to get even better
▼ + stars: | 2024-06-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"Once you've hit the mid 700's you're good. If you run a $5,000 balance on a credit card with a $10,000 limit, for instance, your ratio is 50%. To boost your score, credit experts recommend keeping your ratio under 30%, and ideally as low as 10%. That might mean cutting back on spending, asking your credit card company to raise your limit or opening a new credit card — as long as it won't encourage you to spend more. Add more good information to your credit historyEven if you have blemishes on your credit history, "you can offset them by filling up your report with good things," says Rossman.

Persons: you've, Ted Rossman, it's, Rod Griffin, Griffin, AnnualCreditReport.com, You'd, Rossman Organizations: Bankrate, Experian, CNBC

☆ Las Vegas monolith: A ‘mysterious’ pillar appears on hiking trail in Nevada
▼ + stars: | 2024-06-19 | by ( Christy Choi | ) edition.cnn.com time to read: +3 min

CNN —Another “mysterious” monolith has been spotted. This time, on a Las Vegas hiking trail in Nevada, according to the Las Vegas Metropolitan Police Department (LVMPD). “How did it get up there?”The monolith was found over the weekend near Gass Peak north of Las Vegas, it added. The pillar is reminiscent to ones popping up all over the world shortly after a 10-feet silver monolith was discovered in late 2020 by a helicopter crew flying over an Utah desert. As for the one found on the Las Vegas hiking trail, social media users claimed the monolith isn’t actually new.

Persons: Craig Muir, ”, that’s, Gallerist David Zwirner, John McCracken, John, Tom Dunford, ‘, “ I’m Organizations: CNN, Las Vegas Metropolitan Police Department, Facebook, BBC Locations: Las Vegas, Nevada, Gass, Utah, California, Romania, Isle of Wight, England’s, Powys County, Wales, Vegas, ” In Nevada

☆ Ariana Grande explains her drastic voice changes in viral interview clip
▼ + stars: | 2024-06-19 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Ariana Grande has a vocal range to impress. The singer was on a recent episode of “Podcrushed,” where the pitch of her voice changed during the conversation. When she starts speaking, Grande’s voice sounds deeper before it suddenly sounds higher in pitch. The clip quickly went viral, with one X (formerly Twitter) user writing, “this voice change is sending me regular Ariana was coming out for a second.”Another wrote, “THE SWITCH IN THE VOICE PLEASE HELP ME.”Grande saw comments on TikTok, where she set the record straight. “habit (speaking like this for two years) and also vocal health :),” she explained.

Persons: CNN — Ariana Grande, “, Ariana, ”, ” Grande, Brandy, Monica Organizations: CNN, ” Locations: ”

How to watch USA vs. South Africa in the USThe USA vs. South Africa game will live stream on Wednesday at 10:30 a.m. See at FuboHow to watch USA vs. South Africa in the UKThe USA vs. South Africa game, along with the rest of the tournament, will be shown on Sky Sports in the UK. How to watch USA vs. South Africa in AustraliaThe USA vs. South Africa game will be available through Prime Video in Australia. How to watch USA vs. South Africa in South AfricaThe USA vs. South Africa game will be available to live stream through DStv in South Africa. How to watch USA vs. South Africa in IndiaThe USA vs. South Africa game will live stream free through the Disney+ Hotstar mobile app in India.

Persons: We've, Sling's Desi, Fubo, ExpressVPN Organizations: Business, South Africa's, teams, ICC, USA, US, team, Team USA, Canada, Pakistan, Ireland, West, Willow, Sky Sports, Sky's, Disney Locations: United States, South, South Africa, India, West Indies, Africa, Australia, DStv

☆ Taiwan to acquire more than 1,000 armed drones in new US arms sale
▼ + stars: | 2024-06-19 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

The United States has approved the $360 million sale of more than 1,000 small armed drones to Taiwan, as the self-ruled island claimed by China aims to strengthen its asymmetrical warfare abilities with an eye on successful tactics used on the battlefield in Ukraine. The proposed sale comes as China increases military pressure on Taiwan, with extensive military exercises around it and almost daily warplane flights near the island. In a statement Wednesday, Taiwan’s presidential office thanked the US for its security commitments, adding this was the Biden administration’s 15th weapons sale to the island since 2021. That includes $6.1 billion in asymmetrical weapon systems, including Harpoon missiles, PAC-3 missile interceptors and MQ-9B aerial drones, Cato said. Many analysts have urged Taiwan to pursue more asymmetrical weapons, which they say would be harder for China to counter than conventional arms in any invasion of the island.

Persons: “, Adm, Dong Jun, ”, Wahid Nawabi, Anduril, Biden, Karen Kuo, Cato Organizations: US Defense Security Cooperation Agency, Communist Party, Taiwan Relations, Washington, Chinese Defense, “, Cato Institute, Harpoon Locations: States, Taiwan, China, Ukraine, Taipei, Beijing, Singapore, “ Taiwan, Washington

☆ Meta poised for another breakout, according to the charts
▼ + stars: | 2024-06-18 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Meta (META) is about 5% from all-time highs and technically set up for a move to break to a new record. Since then during its 'year of efficiency' free cash flow has been built back to about $11-$13 billion per quarter for a yearly cash flow of about $50 billion. Meta is already making significant progress as its AI-generated content recommendation systems on Instagram Reels has made sharing among users increasingly popular. Analysts are expecting Meta to grow earnings by 14% for the next two years and revenues by about 12%. -Todd Gordon, founder of Inside Edge Capital, LLC DISCLOSURES: (Gordon owns META personally and in his wealth management company Inside Edge Capital Management, LLC Charts.)

Persons: we've, Todd Gordon, Gordon Organizations: Inside Edge, Reality Labs, Meta, Nvidia, Apple, Alpha, Inside Edge Capital Management

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