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☆ Fidelity just boosted the value of its stake in Elon Musk's xAI by 70%
▼ + stars: | 2024-12-02 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

A Fidelity fund has boosted the value of its shares in xAI by 70%, according to filings. The fund also boosted the value of its shares in Musk-owned social media platform X by 32.4%. Fidelity increased the value of its shares in two Elon Musk-owned companies in October, social media platform X and startup xAI, according to filings. Last month, the fund valued its xAI shares at $44,152,362, or $11.96 each. Fidelity also bumped up the value of its X shares to $5,530,358 in October, according to the November filing.

Persons: Elon Musk's xAI, Elon Musk, xAI, Musk, Donald Trump's, Andreessen Horowitz, OpenAI Organizations: Elon, Fidelity, Growth, Qatar Investment Authority, Sequoia Capital, Wall Street Journal, Trump, firm's, Fund Locations: xAI, OpenAI

☆ Bernie Sanders and Elon Musk are on the same page about auditing the Pentagon and slashing the defense budget
▼ + stars: | 2024-12-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementBernie Sanders says Elon Musk is right about the Defense Department's wasteful spending. The DOGE co-leader criticized the Pentagon's F-35 program and $841 billion budget last month. Elon Musk has a new supporter in his push to rein in government spending — Sen. Bernie Sanders of Vermont. "Elon Musk is right," Sanders said of Musk's criticisms of the Defense Department's spending in an X post published Sunday. "Cool," Musk said in an X post in response to a New York Post story about Sanders' remarks on defense spending.

Persons: Bernie Sanders, Elon Musk, Musk, Sanders, — Sen, It's, Donald Trump's Organizations: Defense, SpaceX, Donald Trump's Department, Government Locations: Vermont

☆ China is studying sanctions on Russia to figure out how to handle them if it invades Taiwan, report says
▼ + stars: | 2024-12-02 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

AdvertisementChina is studying the effects of Western sanctions on Russia to prepare for any invasion of Taiwan. China is closely monitoring the effects of Western sanctions on Russia in order to prepare for a possible invasion of Taiwan, The Wall Street Journal reported, citing people familiar with the matter. Alexander Gabuev, the director of the Carnegie Russia Eurasia Center, told the Journal that Russia is serving as a "sandbox" for China for how sanctions operate and how they should handle them. AdvertisementEven so, Russia's economy has been heavily impacted by the ongoing conflict and the Western sanctions imposed on it. Advertisement"Essentially, the experience of the last three years substantially reduced the fear of large authoritarian states with respect to Western sanctions, and this is very concerning," he said, adding that China-Russia economic cooperation would make any future Western sanctions against China less effective.

Persons: Alexander Gabuev, Alexander Libman, Libman Organizations: Street Journal, Carnegie Russia Eurasia Center, Free University of Berlin Locations: China, Russia, Taiwan, Ukraine, Moscow, Beijing, India, Turkey, USSR

☆ Streamer Kai Cenat earns millions, breaks Twitch subscriber record during 30-day livestream
▼ + stars: | 2024-12-02 | by ( Zach Vallese | ) www.cnbc.com time to read: +3 min

Creator Kai Cenat broke the record for the highest subscriber count on Amazon's Twitch during a non-stop live stream for the entire month of November. During the stream, called Mafiathon 2, Cenat surpassed the previous subscriber record on Twitch, reaching nearly 727,700 subscribers by the end of November, a Twitch spokesperson said. Twitch subscribers usually pay $4.99 per month for perks like ad-free viewing, exclusive emotes, and access to subscriber-only chats with their favorite streamers. Cenat's stream doubled the previous Twitch subscriber record set by virtual streamer Ironmouse during a subathon in September, reaching more than 326,250 subscribers. The popular live streamer has faced controversy in the past.

Persons: Kai Cenat, Cenat, Cenat's, Snoop Dogg, Bill Nye, Kevin Hart, Twitch, Al Michaels Organizations: YouTube, New, Manhattan District, Wall Street Locations: Los Angeles , California, Cenat, Los Angeles, Nigeria, Makoko, New York City

☆ Tesla cofounder says humanity is underperforming and could stand to 'crank up the intensity' like Elon Musk
▼ + stars: | 2024-12-02 | by ( Lauren Edmonds | Ana Altchek | ) www.businessinsider.com time to read: +4 min

Straubel's company, Redwood Materials, is on track to make $200 million in revenue this year. Tesla cofounder JB Straubel said he learned "a huge amount" from Elon Musk — and we could all benefit from the billionaire's work ethic. The CEO disclosed Redwood Materials' estimated revenue with The Wall Street Journal, saying his company will bring in about $200 million. AdvertisementStraubel launched Redwood Materials in 2017 to create a "remanufacturing economy," which refers to extracting raw materials from used batteries and returning them to production after processing them. Representatives for Redwood Materials did not respond to a request for comment from Business Insider.

Persons: JB Straubel, Elon Musk, Tesla, Straubel, Musk, Automobility, Joe Biden, Donald Trump's Organizations: Wall Street, Elon, Redwood, Materials, Journal's Tech, Straubel, Redwood Materials, Business, Tristar Media, McKinsey & Company Locations: Northern Nevada, United States, China

TikTok is defending itself in federal court over legislation President Joe Biden signed in April that would ban TikTok if it doesn’t sell itself to an American owner by the time Trump takes office. Most Trump allies who oppose TikTok have cited claims of Chinese government influence over American users, which TikTok denies. They have both publicly criticized the legislation that would force a sale of TikTok or lead to a U.S. ban. “Don’t be fooled — the TikTok ban is not about China harvesting your data. Vivek Ramaswamy, who Trump has said will work alongside X owner Elon Musk in newly created government efficiency advisory roles, has over 855,000 TikTok followers.

Persons: Donald Trump, TikTok, Joe Biden, Trump, ”, hasn’t, that’s, Brendan Carr, Kevin Roberts, John Ratcliffe, ” Ratcliffe, JD Vance, Karoline Leavitt, Leavitt, ” Leavitt, ” Sebastian Gorka, Tulsi Gabbard, Robert F, Kennedy Jr, Don’t, ” Kennedy, Gabbard, Joe Rogan, Kennedy, “, Mehmet Oz, Vivek Ramaswamy, Elon Musk, Ramaswamy, Jake Paul, ” Ramaswamy, Musk, ” Musk, Shou Chew, Michael Waltz, Waltz, ” Waltz, ” Trump’s, Sen, Marco Rubio, Rubio, ” “, ” Rubio, Kristi Noem, Doug Burgum, Noem, Lori Chavez, Elise Stefanik, Tik Tok, ” Stefanik, Doug Collins, Newsmax, ” Collins, Janette Nesheiwat Organizations: White House, Facebook, Federal Communications Commission, Heritage Foundation, CIA, Fox Business, Trump, Chinese Communist Party, CCP, “, Trump’s, Democratic, Medicare, Services, X, Iowa, YouTube, Street Journal, Senate, Management, Fox News, TikTok, South Dakota Gov, North Dakota Gov, Chinese Community Party, ”, United Nations Locations: U.S, America, China, CCP, USA, Soviet Union, American

☆ A Tesla founder started an EV battery recycling company that's on pace to make $200 million a year
▼ + stars: | 2024-12-01 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +2 min

The company aims to produce enough battery materials for 1 million electric vehicles annually. Tesla cofounder JB Straubel said his electric vehicle battery-recycling startup, Redwood Materials, will make hundreds of millions in revenue this year. Straubel disclosed Redwood Materials' estimated revenue during an interview with The Wall Street Journal, saying his company will rake in about $200 million. AdvertisementThe company aims to produce enough battery materials for 1 million EVs annually. Tesla produces electric vehicles in the United States, but Americans have been slow to adopt them.

Persons: Tesla, JB Straubel, Straubel, We're, Automobility, Joe Biden, Donald Trump's Organizations: Wall Street Journal, Redwood Materials, Materials, Wall Street, Business, Tristar Media, EVs, McKinsey & Company Locations: Northern Nevada, United States, China

With nearly all the ballots now counted in the 2024 election, we can fully evaluate the performance of the national and battleground polls this cycle. The battleground polls also weren’t far off the mark, either, although their misses were slightly larger than what we saw in the national polling. What else the polls got rightBeyond signaling that the 2024 presidential election was competitive and uncertain, the polls nailed the political atmospherics that shaped the contest. Additionally, the polls foretold many of the key demographic trends that ended up defining the 2024 election, including Trump’s gains with Latino voters. That was a major story in the 2024 election: There were more self-identified Republican voters than Democratic voters.

Persons: Donald Trump, Kamala Harris, Harris, Joe Biden, overperforming Biden, Trump Organizations: NBC News, Trump, New York Times, Pew Research, NBC, Telemundo, CNBC, Biden, Democratic, Republicans Locations: Arizona, Michigan, Nevada, Wisconsin, Trump

Taylor Swift fans up in the bleachers of her soon-to-be-completed Eras Tour surely missed a host of Easter eggs she stashed in plain sight. The billionaire singer-songwriter's "Eras Tour Book" hit shelves on Black Friday, revealing previously unknown tidbits about the record-breaking concert run that's spanned five continents over 21 months. Her movie, “Taylor Swift: The Eras Tour,” was the highest-grossing domestic concert film of all time. A view of The Official Taylor Swift | The Eras Tour Book on display as guests shop Target Black Friday Deals and Taylor Swift Exclusive Products, in Jersey City, N.J., on Friday. Shows on the "Eras Tour" run with military-like precision, always starting on time.

Persons: Taylor Swift, Swift, “ Taylor Swift, ”, Dave Kotinsky Organizations: Target, Poets Department, Wall Street Journal, Taylor Swift Exclusive Products Locations: Jersey City, N.J, Vancouver

☆ Photos show Taylor Swift fans lining up for 'The Eras Tour Book' at Target on Black Friday
▼ + stars: | 2024-11-29 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +2 min

AdvertisementTaylor Swift's "The Eras Tour Book" was released exclusively at Target on Black Friday. Shoppers lined up outside Target stores to buy the book and other Taylor Swift merchandise. Taylor Swift fans lined up to purchase "The Eras Tour Book," a behind-the-scenes look at the singer's blockbuster tour that was released exclusively at Target on Black Friday. Advertisement"The Eras Tour Book" by Taylor Swift. AdvertisementBlack Friday shoppers purchasing Taylor Swift's "The Eras Tour Book" at Target.

Persons: Taylor, Swift, Taylor Swift, Dave Kotinsky, Swifties, Target's Organizations: Target, Shoppers, Taylor Swift Publications, Street Journal, Poets Department Locations: Glendale , Arizona, Vancouver

☆ How will Beijing respond to Trump’s cabinet of China hawks?
▼ + stars: | 2024-11-29 | by ( Nectar Gan | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —One called China an “existential threat.” Another called for a “whole-of-society effort” to confront China and was sanctioned – twice – by Beijing. “If you look at Trump’s team, most, if not all, are China hawks. His nominee for secretary of state, Sen. Marco Rubio, is known in China as the “anti-China vanguard” and currently sanctioned by Beijing. “Many of the hardliners indeed want a full confrontation and decoupling with China, but is that truly Trump’s objective for US-China relations? And in the eyes of Beijing, Rubio is not even the worst pick, according to Chinese experts.

Persons: Donald Trump’s, Elon Musk, ”, Yun Sun, “, China –, Trump, –, Hal Brands, Brands, Mike Waltz, Sen, Marco Rubio, Pete Hegseth, Wu Xinbo, Aaron Schwartz, SIPPL, Tesla, ” Sun, Beijing’s, Musk, Lyle Morris, Trump’s, Scott Bessent, ” Jamieson Greer, who’s, Robert Lighthizer, Greer, Wu, Rubio, Mike, Pompeo, ” Wu, ” Pompeo, Biden, Leon Neal, Wang Yiwei, Lai Ching, Taiwan ”, JD Vance, Xi, he’s, Wang Organizations: Hong Kong CNN, Observers, Trump, Stimson, National Security Council, Johns Hopkins School, International, Chinese Communist Party, Beijing, FOX News, Center for American Studies, Shanghai’s Fudan University, Elon, Asia Society Policy Institute, Fudan University, Getty Images Taiwan, Renmin University, Taiwan, Industry, Wall Street Locations: Hong Kong, China, –, Beijing, United States of America, Washington, America, Taiwan, crackdowns, Xinjiang, Taipei, Ukraine, Asia

☆ Russia will likely send North Korean troops to the most dangerous spots to fight, says South Korea
▼ + stars: | 2024-11-28 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

AdvertisementNorth Korean troops sent to aid Russia will likely be deployed to the most dangerous fighting spots. That's according to South Korea's defense minister, who said they'd likely be used as "cannon fodder." North Korean forces have already taken casualties, per reports. North Korean troops fighting alongside Russian forces will likely be sent to some of the most dangerous spots in the war, Kim Yong-Hyun, South Korea's defense minister, said on Thursday. North Korea has sent thousands of troops to aid Russia in its war efforts, according to officials from South Korea, Ukraine, and the US.

Persons: they'd, Kim Yong, Kim, Joonkook Hwang, South, Andrii Kovalenko, Volodymyr Zelenskyy, Dmytro Ponomarenko, Kim Song Organizations: Russian, North, Yonhap News Agency, UN, Financial, Shadow, Street Journal, Western, Storm, Ukraine's Center, Bloomberg, UN Security Locations: Russia, South, Korea, South Korea, Ukraine, Korean, Kursk, North Korea

☆ See the Chinese cargo ship suspected of sabotaging critical undersea cables between 4 NATO countries
▼ + stars: | 2024-11-28 | by ( Lauren Frias | ) www.businessinsider.com time to read: +1 min

A timeline of eventsThe Chinese bulk carrier Yi Peng 3 is anchored near Denmark amid an investigation. Ritzau Scanpix/Mikkel Berg Pedersen via ReutersOn November 15, Yi Peng 3 departed from Russia's Ust-Luga port on the Baltic Sea carrying Russian fertilizer. The Ust-Luga port is the largest universal port on the Baltic Sea and the Kremlin's second-largest port after Novorossiysk on the Black Sea. Since Sweden and Finland joined the alliance, the Baltic Sea has been referred to as "NATO lake" because it is almost entirely populated by alliance members. Two days later, investigators established that the Chinese vessel dropped its anchor around 9 p.m. local time, The Wall Street Journal reported Wednesday.

Persons: Yi Peng, Ritzau Scanpix, Mikkel Berg Pedersen Organizations: Reuters, NATO, Street, Investigators, Danish Locations: Denmark, Russia's Ust, Novorossiysk, Sweden, Finland, Baltic, Lithuania, Germany, Kattegat

☆ Elon Musk's hunger for chips is taxing Nvidia's capacity to make them: report
▼ + stars: | 2024-11-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk's demand for Nvidia chips has put pressure on the company to deliver. Nvidia is feeling the pressure from trying to meet Elon Musk's insatiable demand for chips. Musk's demand for chips was straining the chip giant's supply chain, a sales lead for Nvidia told colleagues in an email obtained by The Wall Street Journal. In June, CNBC reported that Musk had redirected $500 million worth of Nvidia chips from Tesla to X and xAI. Then, in September, Musk announced that xAI had brought a massive new training cluster of Nvidia chips online.

Persons: Elon, Mark Zuckerberg, Meta, Zuckerberg, Musk, Tesla, xAI, Jensen Huang, Huang, Larry Ellison, Jensen, Ellison Organizations: Elon, Nvidia, Wall Street, CNBC, Oracle Locations: Memphis , Tennessee

☆ DOGE: How far could Elon Musk and Vivek Ramaswamy go to cut federal regulations?
▼ + stars: | 2024-11-28 | by ( Tami Luhby | ) edition.cnn.com time to read: +6 min

CNN —Elon Musk and Vivek Ramaswamy intend to lean on two recent Supreme Court rulings that they argue will make it easier to tear up a multitude of federal regulations. However, multiple legal and regulatory experts told CNN that Musk and Ramaswamy are misinterpreting the decisions, which could actually make it harder to overturn existing rules. Slashing needed workersWhat’s more, the endeavor would require a lot of assistance from agency staffers – the very workers that Musk and Ramaswamy have promised to cut. For instance, in a town hall on X last month, Musk repeatedly criticized government regulations, citing their interference with his companies. “It’s quite arduous getting regulatory approval,” Musk said while discussing his Neuralink startup that develops implantable brain-computer interfaces.

Persons: CNN — Elon Musk, Vivek Ramaswamy, Donald Trump, Raimondo, Ramaswamy, won’t, ”, James Broughel, hasn’t, ” Musk, Trump, Nicholas Bagley, “, Richard Pierce Jr, ” Broughel, ” Trump, Broughel, Biden, Joe Biden’s, Musk, ” CNN’s Tierney Sneed Organizations: CNN, Government, Environmental Protection Agency, Loper Bright Enterprises, Competitive Enterprise Institute, ’, Street, Congress, University of Michigan Law School, George Washington University, of Economic, Public Citizen, SpaceX Locations: West Virginia

Panera Bread has hired a prominent crisis manager while the bakery-café chain navigates ongoing lawsuits over its highly caffeinated Charged Lemonade and plans a long-awaited initial public offering. The confidential settlement was with the family of Sarah Katz, an Ivy League student with a heart condition who died after drinking Charged Lemonade in September 2022. Dispensers for Charged Lemonade at Panera Bread in Walnut Creek, Calif., in 2023. The Charged Lemonade also had guarana extract, another stimulant, as well as the equivalent of nearly 30 teaspoons of sugar in the large size, the court documents added. It also displayed signage in stores cautioning that Charged Lemonade should be consumed in moderation.

Persons: Brooke Buchanan, Buchanan, Panera, Edelman, Elizabeth Holmes, Sarah Katz, Kline, Specter, Elizabeth Crawford, Crawford, Smith, Sen, John McCain Organizations: NBC News, Justice Department, Securities and Exchange Commission, Centers, Medicare, Services, Ivy League, Kline, Getty, Food and Drug Administration, Foods, Whole Foods, Walmart, JCPenney, Red, Street Journal Locations: U.S, Philadelphia, Florida, Walnut Creek, Calif, Missouri, Theranos, New York, Williams, Sonoma

AdvertisementTrump's new DOGE commission, tasked with cutting spending, has floated laying off federal workers. Government employees told BI they're preparing by networking and freshening their resumes. President Bill Clinton also attempted to reduce federal spending and improve government efficiency with the National Performance Review, led by federal employees. Clinton's panel similarly succeeded in cutting 300,000 federal workers but only managed to get a quarter of proposals that required legislative action through Congress. One senior official at the Commerce Department told BI they anticipate a civil servant brain drain.

Persons: Donald Trump's, Jesus Soriano, who's, Elon Musk, Vivek Ramaswamy, Ramaswamy, Trump's, Brian Hughes, Vance, Soriano, he's, Ronald Reagan, Grace, Bill Clinton, Joyce Howell, —, it's, we're, lifer, Sheria Smith, I'd, Smith Organizations: of Government Efficiency, Business, of Health, Human Services, National Science Foundation, agency's American Federation of Government Employees, GOP, SpaceX, Roivant Sciences, DOGE, of Housing, Urban Development, Veterans Affairs, Homeland Security, Management, Street, Trump, America, Grace Commission, US Postal Service, Postal Service, Environmental Protection Agency, Food and Drug Administration, FDA, of Labor Statistics, Commerce Department, BI, Department of Education, Education Department, aaltcheck Locations: America

☆ Get ready to pay more at Chipotle
▼ + stars: | 2024-11-27 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Chipotle's sales rose 6% last quarter, showing resilience amid fast food price hikes. AdvertisementDespite the potential for higher menu prices, Chipotle remains a better value option for customers than similar alternatives, Rymer said, per the Journal. Inflation has not been kind to fast food prices. AdvertisementUnlike some fast food firms, whose sales have taken a tumble as customers have cut back, Chipotle has shown resilience. Chipotle did not immediately respond to a request for comment from Business Insider, made outside regular working hours.

Persons: Adam Rymer, Chipotle, Rymer, Brian Niccol, Niccol, Scott Boatwright Organizations: Wall Street Journal, Wall, Starbucks, McDonald's, KFC, Revenue, Business Locations: Chipotle, Olive

☆ Marc Andreessen is hopping on the Musk bandwagon and slamming manned fighter jets, saying there won't be 'spam in the can' if pilots aren't in the plane
▼ + stars: | 2024-11-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Andreessen's comments echo that of Elon Musk, who said this week that he thinks crewed fighter jets are inefficient. Elon Musk isn't the only tech executive who thinks drones are way better than fighter jets. Related Video The true cost of America's war machinesAI-controlled jets, Andreessen told Rogan, are "far superior" to fighter jets that need pilots. Advertisement"Crewed fighter jets are an inefficient way to extend the range of missiles or drop bombs. Drones have been game-changing in modern warfare, but military experts say there are still advantages to having manned fighter jets over drones.

Persons: Marc Andreessen, Elon Musk, Andreessen Horowitz, Joe Rogan, Andreessen, Rogan, Musk, Eric Schmidt, Schmidt, Sebastian Thrun, Donald Trump's, Vivek Ramaswamy, Justin Bronk, Mark Gunzinger Organizations: Elon, Andreessen, Business, Stanford University, Ares Industries, of Government, The Wall, Pentagon, Royal United Services Institute, US Air Force, Concepts, Mitchell Institute for Aerospace Studies Locations: Silicon, Russia

☆ Elon Musk just deepened his rivalry with Sam Altman
▼ + stars: | 2024-11-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's xAI is reportedly close to unveiling a chatbot app similar to OpenAI's ChatGPT. Elon Musk's xAI is reportedly planning an app that could expand its chatbot's reach to a much wider audience and take on ChatGPT. xAI could release the chatbot app as soon as December, The Wall Street Journal reported on Wednesday. The app, if it materializes, would be another sign that xAI and Musk are trying to take on ChatGPT-maker OpenAI. A chatbot app would be its first product offered directly to consumers.

Persons: xAI, OpenAI, Elon Musk's xAI, Sam Altman, Musk Organizations: Elon, Street Journal, Street, Business, Twitter, Financial Times

☆ Pentagon unlikely to use all of the billions Congress authorized it to spend on Ukraine weapons before Biden leaves office, officials say
▼ + stars: | 2024-11-27 | by ( Oren Liebermann | Natasha Bertrand | Katie Bo Lillis | ) edition.cnn.com time to read: +6 min

CNN —The Pentagon is unlikely to use all of the billions of dollars authorized by Congress to arm Ukraine before President Joe Biden leaves office, according to two US officials and three defense officials. For months, the US has run into the limits of its ability to replenish its own weapons inventories, which limited what the Biden administration has been able to send Ukraine. In September, Biden committed billions of dollars in military aid to Ukraine as President Volodymyr Zelensky visited the White House. The US announced a $1 billion military aid package for Ukraine that same day. But the value of aid packages quickly dipped, as the stockpiles of weapons and equipment the Pentagon was able to send Kyiv dwindled.

Persons: Joe Biden, Biden, Sabrina Singh, “, Donald Trump, Trump, Mike Waltz, ”, Jake Sullivan, “ We’re, Volodymyr Zelensky, what’s, Mike Johnson, “ It’s, ” Biden Organizations: CNN, Congress, Defense Department, Pentagon, Street Journal, ” State Department, Kyiv, Biden, DoD, White, Administration, US, Ukraine Locations: Ukraine, Russia, America

☆ Why some women say learning poker is the key to career success
▼ + stars: | 2024-11-27 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Some women are building their confidence and career success at a surprising locale: a poker table. Jenny Just founded Poker Power, a company that teaches the game to women to build up their risk-taking skills. "The poker table was like every money table I had sat at," Just previously told Business Insider. Skills like capital allocation, taking risks, and learning how to strategize." "When I sat down at the poker table, I was instantaneously stereotyped," Merk previously told BI.

Persons: Jenny Just, Erin Lydon, Lydon, Maria Konnikova, I've, Konnikova, Abby Merk, Merk Organizations: US Department of Labor, Poker, Poker Power, Street

☆ Zoom abandons its video-based identity, rebranding as an AI-first company
▼ + stars: | 2024-11-26 | by ( Katherine Tangalakis-Lippert | Aditi Bharade | ) www.businessinsider.com time to read: +3 min

AdvertisementZoom Video Communications Inc. is dropping video from its name in an AI-first rebranding effort. The company, best known for its videoconferencing, will now be known as "Zoom Communications Inc."Zoom isn't the only company revisiting its trajectory in the AI boom. Zoom — the company best known for bringing the world the videoconferencing software that got corporate workers through the coronavirus pandemic — wants to be known for its status as an AI-first company, CEO Eric Yuan wrote in a company blog post published Monday announcing a major rebrand. From this day forward, the company formerly called "Zoom Video Communications Inc." will be known simply as "Zoom Communications Inc." the post reads, as the company focuses on an AI-first approach to corporate communications. "Woven throughout Zoom Workplace, AI Companion frees us up to focus on more important work and minimizes time wasted on less meaningful tasks," the company announced.

Persons: Eric Yuan, Morgan Stanley, OpenAI, Sundar Pichai, Pichai, Marc Benioff, Gartner, Copilot Organizations: Communications, Communications Inc, Major Big Tech, Google, Microsoft, Securities, Exchange, OpenAI, SEC, Business Locations: Amazon, OpenAI

☆ What Trump's trade plans mean for industry in Canada and Mexico — from oil to autos
▼ + stars: | 2024-11-26 | by ( Huileng Tan | Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementDonald Trump said he would impose 25% tariffs on Canadian and Mexican exports to the US. The US is a big buyer of products from Canada and Mexico, particularly in the energy and auto sectors. Canadian energy exports to the US were worth $128 billion last year. Mexico worth $379 billion worth of exports to the US in the first nine months of this year, with Canadian exports topping $309 billion, the data shows. AdvertisementWilbur Ross, who served as Commerce Secretary in Trump's first administration, told CBC earlier this month he didn't expect the incoming president to tax Canadian energy imports.

Persons: Donald Trump, Nigel Green, Wilbur Ross, Ross, Tesla, Elon, BYD, Trump Organizations: US, Canadian, deVere, Energy, CBC, Toyota, Nissan, Honda, Elon Musk's, Street, Machinery, . Locations: Canada, Mexico, China, Europe, Asia, . Canada

☆ Omead Afshar, a longtime Elon Musk loyalist, takes the wheel at Tesla
▼ + stars: | 2024-11-26 | by ( Grace Kay | Katherine Long | ) www.businessinsider.com time to read: +10 min

As Musk increasingly turns his attention to politics, Afshar is set to help shepherd Tesla through this volatility. AdvertisementOver the seven years he has spent working for Musk, Afshar has emerged as one of the billionaire's most loyal lieutenants, driven and singularly focused on his goals. Years before Tesla, Afshar studied biomedical engineering at the University of California, Irvine, and worked as a ski instructor. At Tesla and other Musk companies, he said, "the mission is good, and what we're trying to do is right." AdvertisementThe four current and former colleagues said Afshar became lower profile at Tesla in 2022 but continued to work closely with Musk.

Persons: Omead Afshar, Afshar, Elon Musk, Musk, Tesla, Donald Trump, Aly Song, Seth Sharp, Drew Baglino, Rebecca Tinucci, Tom Zhu, Zhu, Elon, Sharp, Omead, Behrad Vahidi, Tesla's, Suzanne Cordeiro, Jared Birchall, Walter Isaacson Organizations: North, Reuters, Tesla, University of California, Bloomberg, Street Journal, of Justice, Securities and Exchange Commission, SEC, DOJ, SpaceX, Financial Times, Twitter Locations: Austin, Germany, North America, Europe, China, Elon, Irvine, Westlake, Los Angeles, San Francisco, Texas, Austin , Texas, Shanghai

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