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Technologists and advocates are again set to visit Capitol Hill on Tuesday to discuss with Senate leaders the perils and promises of artificial intelligence. Venture capitalists Marc Andreessen, co-founder and general partner of Andreessen Horowitz, and John Doerr, chair of Kleiner Perkins, will be among the 21 attendees at the second AI Insights Forum hosted by Senate Majority Leader Chuck Schumer, D-N.Y., according to a spokesperson for his office. The session is a continuation of the Majority Leader's effort to get the chamber up to speed on AI to determine how best to approach AI regulation. For example, Future of Life Institute President Max Tegmark is also set to attend. Other tech leaders such as Micron Executive Vice President Manish Bhatia, Revolution CEO Steve Case, Stripe CEO Patrick Collison and Cohere CEO Aidan Gomez will be in attendance.
Persons: Marc Andreessen, Andreessen Horowitz, John Doerr, Kleiner Perkins, Chuck Schumer, Andreessen, Max Tegmark, Elon Musk, Manish Bhatia, Steve Case, Patrick Collison, Aidan Gomez, Derrick Johnson, Amanda Ballantyne, Satya Nadella, Bill Gates, Mark Zuckerberg, Sundar Pichai, Sam Altman Organizations: Capitol, Senate, China, Life, Life Institute, Tesla, Space X, Micron, NAACP, AFL, Technology, Microsoft, Google, CNBC, YouTube Locations: coders, India
CNN —Almost 200,000 books are being used to train artificial intelligence systems by some of the biggest companies in technology. Books3 is already the subject of multiple lawsuits against Meta and other companies using the system to train AI. Now, thanks to a database published by The Atlantic last week pulling from Books3, authors can see whether their books specifically are being used to train these AI systems. They stole a part of me.”Nora Roberts, the prolific romance novelist, has 206 books used in the Books3 database, according to The Atlantic. With the popularity of text-to-image AI systems, visual artists were in same situation last year, discovering their work was being used to train AI without permission.
Persons: Books3, , , Mary H, Choi, “ I’m, I’m, ” Choi, ” Min Jin Lee, Pachinko, ” “, Al, ” Nora Roberts, William Shakespeare, ” Roberts, Nik Sharma, I’d, Sharma, ” Sharma, James Chappel, ” Chappel, ChatGPT, aren’t, Joe Biden, Choi isn’t, Roberts Organizations: CNN, The Atlantic, Meta, New York Times, Food, Millionaires, West, Bloomberg, Guild of America, WGA Locations: Korean
Biden teases forthcoming executive order on AI
  + stars: | 2023-09-27 | by ( Brian Fung | ) edition.cnn.com   time to read: +2 min
CNN —The White House plans to introduce a highly anticipated executive order in the coming weeks dealing with artificial intelligence, President Joe Biden said Wednesday. Biden’s signing of the order would build on an earlier administration proposal for an “AI Bill of Rights.” Civil society groups have urged the Biden administration to require federal agencies to implement the AI Bill of Rights as part of any executive order on the technology. Meanwhile, the US Senate is continuing to educate lawmakers on artificial intelligence in preparation for months of legislative work on the issue. “Vast differences exist among them in terms of what potential it has, what dangers there are, and so, I have a keen interest in AI,” Biden said. The meeting also saw presidential advisers showcasing to Biden several use cases for artificial intelligence.
Persons: Joe Biden, I’m, ” Biden, Biden, he’s, “ I’ve, , Maria Zuber Organizations: CNN, White, Presidential, Advisors, Science, Technology, United, Biden Locations: America, United States, United Kingdom
It was a mostly staid meeting until the potential harms from Meta's new Llama 2 model came up. That prompted a testy exchange between Harris and Mark Zuckerberg, co-founder and CEO of Meta, formerly known as Facebook. "It was one of the only moments in the whole thing that was like, 'Oh,'" one of the senators present said, describing the exchange as having caught people's attention. "It was, 'Ok, next speaker,' it moved right along," one of the senators present said. Its ability to turn up detailed instructions for creating a biological weapon like anthrax is to be expected, two people familiar with the company said.
Persons: Tristan Harris, Harris, Mark Zuckerberg, Zuckerberg, Elon Musk, Sam Altman, Satya Nadella, Jensen Huang, Sundar Pichai, Chuck Schumer, Democratic Sen, Martin Heinrich, Republican Sens, Mike Rounds, Todd Young, OpenAI's, It's, Meta, ChatGPT, Google's Bard, Kali Hays Organizations: Center for Humane Technology, Meta, Facebook, The Washington, Elon, Twitter, SpaceX, Microsoft, Nvidia, Google, Senate, Democratic, Republican, YouTube Locations: khays@insider.com, @hayskali
Here are the biggest calls on Wall Street on Thursday: Bank of America downgrades J.M. "Our prior Buy rating was based on the view that SJM would focus on a more optimized portfolio of core brands, following several years of divestitures of low growth/margin assets. Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating on the stock due to "AI innovation & potentially lower expenses." Bank of America reiterates Blackrock as buy Bank of America said the company is the "leading platform for investing & tech solutions." Goldman Sachs reiterates FedEx as buy Goldman said it's standing by its buy rating heading into earnings next week.
Persons: Morgan Stanley, Wells, JPM, PENN, VIRT, William Blair, Jefferies, MET's, Semtech, Wolfe, TD Cowen, Redburn, BLK, Goldman Sachs, Goldman Organizations: Bank of America, Amazon, Nvidia, NVIDIA, JPMorgan, Apple, Wave7 Research, Deutsche Bank, Penn Deutsche, Penn, Citi, Google, BMO, Jefferies, MetLife, Susquehanna, Blackrock, FedEx
"The U.S. could account for some 55% (of the growth), but China is likely to be the world's second largest AI market with over 6% share. Computing power serves as the foundation for AI development and ByteDance, Tencent, Alibaba and Baidu, as a group are the world's second largest buyers of AI chips (12%)," they added. A key driver will be AI cloud services, they said . Stock picks CLSA named Baidu , Alibaba and Tencent as the "cheapest AI plays" that will "lead China's AI innovation." "Alibaba, Baidu and Tencent are trading at only 8.8x, 13.1x and 15.6x 24 [months] adj[usted] P/E (price-to-earnings) which only reflect the value of their traditional businesses.
Persons: CLSA, Stock, — CNBC's Michael Bloom Organizations: Baidu, International Data Corporation, Inspur, Tsinghua University, Hong Locations: U.S, China, Hong Kong
Tesla needs as many Nvidia chips as it can get, based on CEO Elon Musk recent comments on the company's quarterly earnings call. Tesla isn't the first to work on custom AI chips focused specifically on the company's bread and butter. And that's coming from the head of one of the most cutting-edge AI companies on the planet. Nvidia chips can be utilized by clients for many applications, making it easier for them to accelerate growth. The fresh Nvidia-Tesla conversation adds another layer to Oracle's report Monday, when viewed through the lens of Nvidia's AI leadership.
Persons: Tesla, Morgan Stanley, Morgan, Jim Cramer, Elon Musk, Musk, Sundar Pichai, Jim, Oracle, Jim Cramer's, Jensen Huang Organizations: Nvidia, Oracle, Broadcom, Google, NVIDIA, Citigroup, Oracle Cloud Infrastructure, Citi, Amazon Web Services, UBS, CNBC, Getty Locations: OCI, Taiwan
Sundar Pichai said Google 's longstanding relationship with chipmaker Nvidia isn't going to change any time soon — in fact, he expects it to continue over the next 10 years. "Look, the semiconductor industry is a very dynamic, cooperative industry," Pichai said. I feel comfortable about our relationship with Nvidia and that we are going to be working closely with them 10 years from now." In the interview with Wired, Pichai described AI as "one of the most profound technologies we will ever work on." As of Monday morning, Nvidia's stock is up nearly 212% year to date.
Persons: Sundar Pichai, Pichai, Kif Leswing Organizations: Google, Nvidia, Android, Microsoft, Wired
CLSA thinks China could emerge as the second-largest artificial intelligence market, and the firm is eyeing a tranche of stocks to play the growth. "While the USA is a strong leader, China is putting up a fight and we believe it will become the world's second-largest AI market with over 6% share of global US$1tn AI spending by 2026," the note said. For exposure to the future AI growth in China, Leung highlighted Baidu and Alibaba , while calling out Tencent as the premier play — a trio of stocks the firm dubbed "BAT." "We believe Baidu, Alibaba and Tencent are the best positioned to lead China's AI innovation," Leung said. All three companies are the dominant developers of large language models in China, Leung added, and already have a tight grip over the necessary data and IT to grow further.
Persons: CLSA, Elinor Leung, Bard, Leung, Tencent, , BABA, Michael Bloom Organizations: Nvidia, Microsoft, Google, Baidu, BAT, ", HK Locations: China, The U.S, U.S, ChatGPT, USA, Hong Kong, Tencent
Non-GAAP earnings-per-share (EPS) of $2.12 grew 78% from last year and beat the $1.90-per-share EPS predicted by analysts, Refinitiv data showed. While the solid margin beat and upside to earnings are similar to what Salesforce reported back in May, one key difference this time was the increased revenue outlook. It now expects to hit $34.7 billion to $34.8 billion, up from $34.5 billion to $34.7 billion. Salesforce raised its GAAP EPS range to $3.50 to $3.52, up from $2.67 to $2.69, and non-GAAP EPS range to $8.04 to $8.06, up from $7.41 to $7.43. Salesforce also expects its cPRO to grow slightly above 11% from last year and that's slightly better than estimates of 10.8% growth.
Persons: Refinitiv ., Salesforce, Marc Benioff, Brian Millham, Jim Cramer's, Jim Cramer, Jim, Fabrice Coffrini Organizations: Revenue, CNBC, Economic, Afp, Getty Locations: Salesforce, Americas, Europe, Africa, Asia, Davos, Switzerland
Amazon cloud revenue rise 12%, topping analysts' estimates
  + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
Amazon said Thursday that revenue from its cloud unit increased 12% year over year in the second quarter, a speedier pace than analysts had predicted. Revenue for the quarter came to $22.1 billion, beating the $21.79 billon consensus among analysts surveyed by StreetAccount. AWS operating income has now declined for three consecutive quarters. Google and Microsoft are also moving quickly to make money as companies look to take advantage of generative AI following the rise of startup OpenAI's ChatGPT chatbot. AWS CEO Adam Selipsky told CNBC in June that the generative AI "race" has just started.
Persons: Gartner, Adam Selipsky Organizations: Amazon, Revenue, StreetAccount, StreetAccount . Revenue, Amazon Web Services, AWS, Microsoft, Center, Google, OpenAI Service, CNBC Locations: StreetAccount .
Palantir stock is headed to $25 a share as the company builds an AI "fortress," Wedbush said. The company will be a major player in the AI boom in the next decade, the firm said. "As we begin the 4th Industrial Revolution, Palantir is engaging in the widespread trend of various industries leveraging recent generative AI innovations to streamline operations and improve expense profiles," the Wedbush analysts wrote. "This is early innings on a sum-of-the-parts AI story just on the cusp on monetizing this massive green field AI opportunity," it predicted. Palantir CEO Alex Karp has been a vocal proponent of the rapid development of AI even in the face of risks associated with the technology.
Persons: Wedbush, Wedbush's Dan Ives, Palantir, Messi, Ives, Lionel Messi, Alex Karp Organizations: Service, Wedbush Securities, New York Times Locations: Wall, Silicon, Tel, Argentine
While investors have poured billions into AI startups, concern about AI's capabilities has grown. People don't all have the same value systems, so AI alignment can look different depending on where the AI is operated and deployed. Investors poured $29 billion into AI startups in the first six months of 2023. Aligned AI. The drive to fund AI safetyAI researchers are also vigilant about where the funds for AI safety and alignment come from.
Persons: ChatGPT, Stuart Armstrong, Rebecca Gorman, , Gorman, OpenAI's Sam Altman, Demis Hassabis, Bill Gates, Connor Leahy, Leahy, it's, Sam Bankman, Ian Hogarth, Hogarth Organizations: Oxford University, Investors, Alameda Research, FTX Locations: London
"Any incremental improvement in open-source models is eating into the market share of closed-source models because you can run them cheaply and have less dependency," said Masad. The announcement follows plans by Microsoft's largest cloud rivals, Alphabet's (GOOGL.O) Google and Amazon (AMZN.O), to give business customers a range of AI models from which to choose. Amazon, for instance, is marketing access to Claude - AI from the high-profile startup Anthropic - in addition to its own family of Titan models. Google, likewise, has said it plans to make Claude and other models available to its cloud customers. Until now, Microsoft has focused on making technology available from OpenAI in Azure.
Persons: Meta, Mark Zuckerberg, Zuckerberg, Bard chatbot, Amjad Masad, Claude, Katie Paul, Jeffrey Dastin, Krystal Hu, Kenneth Li Organizations: YORK, OpenAI, Google, Microsoft, Meta, Amazon Web Services, Thomson
[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. The officials asked not be named as the discussions, whose extent has not been previously reported, remained confidential. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton.
Persons: Florence, Alexandra van Huffelen, van Huffelen, Thierry Breton, Breton, Fanny Potkin, Sam Nussey, Supantha Mukherjee, Joyce Lee, Tomasz Janowski Organizations: REUTERS, European, EU, Reuters, Officials, General Data, European Union, South Korean, Thomson Locations: Florence Lo, SINGAPORE, TOKYO, STOCKHOLM, Asia, India, Japan, South Korea, Singapore, Philippines, Canada, Turkey, Israel, EU, France, Germany, Italy, Britain, United States, Hiroshima, Seoul
[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. The EU and its member states have dispatched officials for talks on governing the use of AI with at least 10 Asian countries including India, Japan, South Korea, Singapore and the Philippines, they said. Officials from Singapore and the Philippines expressed concern that moving overly hasty regulation might stifle AI innovation. Seoul will continue discussing AI regulation with the EU but is more interested in what the G7 is doing, a South Korean official said following a meeting with Breton. The EU is planning to use the upcoming G20 meetings to further push for global collaboration on AI, notably with 2023 president India, van Huffelen told Reuters.
Persons: Florence, Alexandra van Huffelen, van Huffelen, Thierry Breton, Breton, Fanny Potkin, Sam Nussey, Supantha Mukherjee, Joyce Lee, Tomasz Janowski Organizations: REUTERS, European, EU, Reuters, Officials, General Data, European Union, South Korean, Thomson Locations: Florence Lo, SINGAPORE, TOKYO, STOCKHOLM, Asia, India, Japan, South Korea, Singapore, Philippines, Canada, Turkey, Israel, EU, France, Germany, Italy, Britain, United States, Hiroshima, Seoul
Analysts at Morgan Stanley published the results of their second-quarter CIO survey, providing valuable insight into information technology budget expectations. Cloud and cybersecurity Digging a bit deeper, the survey reveals that cloud computing and security software remain the top two priorities for CIOs followed by artificial intelligence/machine learning. The analysts singled out Microsoft as the most exposed to the two major themes of the survey — generative AI via ChatGPT and cloud consumption via Azure. Cloud and AI enablers All of this also bodes well for the names that make cloud computing, generative AI, and LLMs possible. Importantly, the demand is not only coming from cloud service providers (CSPs) but also from enterprise players and AI startups.
Persons: Morgan Stanley, Bard, Dell, Salesforce, Jim Cramer's, Jim Cramer, Jim, Bing, Jonathan Raa Organizations: Microsoft, Google, Web Services, Club, Software, Hewlett Packard Enterprise, Palo Alto Networks, Alto, Nvidia, Devices, AMD, CNBC, Nurphoto, Getty
AI in advertising Amazon is not only differentiating its gen AI strategy by leveraging the cloud, but it's also incorporating AI in e-commerce to support its ad business. Amazon Prime Day Amazon Prime Day, the global shopping event that attracts consumers seeking huge cost-saving deals, on a variety of products will be held July 11 and 12 in 24 countries. Coupled with the cloud, e-commerce is the other big piece of what Amazon is all about. The 48-hour event is expected to bring in $8 billion in U.S. e-commerce sales, according to data by Insider Intelligence. Still, Insider Intelligence data shows Amazon Prime Day e-commerce sales will surpass that of competing retailers.
Persons: Andy Jassy, Scott Devitt, Devitt, Andrew Lipsman, it's, Lipsman, Sellers, Gene Munster, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon Web Services, CNBC, Amazon, Microsoft, Nvidia, AWS, Insider Intelligence, Google, Deepwater Asset Management, Intelligence, Amazon CNBC Locations: U.S
Here's a breakdown of two analyst calls targeting Microsoft and Palo Alto, along with our take, too. "In this 'Game of Thrones' battle for AI market share we view the enterprise as the golden-goose opportunity, as we estimate the AI market opportunity is an $800 billion market over the next decade," the analysts argued. Palo Alto Networks The news: RBC Capital Markets on Wednesday bumped Palo Alto Networks' price target to $277 a share, from $232. Morgan Stanley said last week that Palo Alto was on its way to becoming the first cybersecurity company to notch a $100 billion market valuation. Privately held companies have been left to develop AI technology at breakneck speed, giving rise to systems like Microsoft-backed OpenAI's ChatGPT and Google's Bard.
Persons: Palo, Nikesh Arora, WedBush, Morgan Stanley, Jim Cramer's, PANW, Jim Cramer, Jim, Google's Bard, Lionel Bonaventure Organizations: Microsoft, Palo Alto Networks, Palo Alto, Alto, CNBC, Palo, RBC, Markets, Privately, Getty Locations: Palo Alto, OpenAI
Microsoft is betting on making its own AI chips for long-term growth, new internal documents show. Cloud market leader AWS is lagging behind Microsoft in AI efforts. Microsoft is betting on developing its own silicon chips to drive long-term growth for its cloud business, newly-released internal strategy documents confirm. It hopes the chip will outperform the ones it buys from vendors to save money on its high-cost AI efforts. Wall Street was less impressed by the AI efforts AWS touted on its earnings call a few days later.
Persons: We're, Satya Nadella, Bernstein, Ellen Thomas Organizations: Microsoft, FTC, Activision Blizzard, AWS, Federal Trade Commission, Companies, Apple, Google, Amazon Web Services
In an open letter sent to EU lawmakers Friday, C-suite executives from companies including Siemens (SIEGY), Carrefour (CRERF), Renault (RNLSY) and Airbus (EADSF) raised “serious concerns” about the EU AI Act, the world’s first comprehensive AI rules. “Such regulation could lead to highly innovative companies moving their activities abroad” and investors withdrawing their capital from European AI, the group wrote. Race to regulateTech experts have increasingly called for greater regulation of AI as it becomes more widely used. The EU rules are the world’s “first ever attempt to enact” legally binding rules that apply to different areas of AI, according to the European Parliament. The Act also outlines transparency requirements for AI systems.
Persons: Yann LeCun, Hermann Hauser, , France Valeria Mongelli, Sam Altman, ERIC, , Dragos, ” Brando Benifei, CNN “ Organizations: Germany CNN, EU, Siemens, Carrefour, Renault, Airbus, Meta, British, ARM, , Bloomberg, Getty, US, Tech, SAP, Ericsson, CNN Locations: Dortmund, Germany, Europe, Strasbourg, France, United States, China, Romanian
Salesforce to invest $4 billion in UK on AI innovation
  + stars: | 2023-06-29 | by ( ) www.reuters.com   time to read: +1 min
LONDON, June 29 (Reuters) - Salesforce (CRM.N) will invest $4 billion in its UK business in the next five years, the U.S. software company said on Thursday, thanks to strong demand for digital transformations and artificial intelligence. The company said the plan builds on a previous five-year injection of $2.5 billion it set out in 2018. Salesforce said it would work with the government to drive the next wave of digital transformation "in this new AI era." "A clear pro-innovation regulatory framework that compels safe and responsible use of AI is vital, and Salesforce is fully focused on bringing secure, trusted, enterprise ready generative AI to UK businesses," Salesforce UKI boss Zahra Bahrololoumi said. Earlier in June Salesforce blamed an uncertain U.S. economy and weaker demand from financial services and tech companies for its disappointing quarterly results.
Persons: Brad Smith, Rishi Sunak, Sunak, Salesforce, Zahra Bahrololoumi, Muvija, Sarah Young Organizations: U.S ., Activision Blizzard, NYSE, Thomson Locations: U.S, Britain, British
Since OpenAI launched ChatGPT in November, Meta has lost a third of its published AI researchers, WSJ reports. Under LeCun, sources told WSJ, AI researchers found it difficult to push for large language models that make programs like ChatGPT possible. Still, in a June town hall meeting with employees, Zuckerberg praised the company for its strides in AI. Meta has also lost many researchers in the last year who said they felt burned out or doubtful of the company's future in AI, according to WSJ. In an internal survey conducted between April 26 and May 10, just 26% of the Meta employees who responded said they felt confident in their company's leadership.
Persons: OpenAI, Meta, Mark Zuckerberg, Zuckerberg, Yann LeCun, we've, Pope Francis, Donald Trump Organizations: House, Big Tech, Meta, Wall Street Journal
June 15 (Reuters) - Adobe Inc (ADBE.O) surpassed Wall Street estimates for quarterly results and forecast on Thursday as the Photoshop maker's efforts to drive up demand with generative artificial intelligence (AI) integrations paid off. Adobe's spree to boost AI innovation has been evident by AI features being introduced into Acrobat, Express, Photoshop and Premiere Pro. Analysts see generative AI as both a near- and long-term benefit to both the creative and experience businesses, which could be a catalyst to 2024 revenue growth. Focus continues to remain on the impact of generative AI and the pending close of the Figma deal. Adobe has been waiting to finalize its $20 billion buyout deal for the cloud-based designer platform, with management expecting an initial ruling this month.
Persons: integrations, Dan Durn, Samrhitha, Pooja Desai Organizations: Adobe Inc, Acrobat, Adobe, Users, Reuters, Analysts, Zoom Video Communications, Airbnb Inc, Revenue, Thomson Locations: San Jose , California, Bengaluru
Wells Fargo upgrades Adobe to overweight from equal weight Wells said it's bullish on the company's AI opportunity. Morgan Stanley reiterates General Motors as overweight Morgan Stanley said GM and Tesla's charging agreement could be a game changer. Morgan Stanley reiterates Carvana as equal weight Morgan Stanley said it's getting a little more constructive on the stock after the company announced improved second-quarter guidance. " Loop reiterates Best Buy as buy Loop said Best Buy could be a long-term beneficiary of virtual reality after Apple announced its launch earlier this week. Morgan Stanley upgrades Corning to overweight from equal weight Morgan Stanley said in its upgrade of the glass company that it sees an attractive risk/reward.
Persons: Tesla, Wells, it's bullish, Morgan Stanley, KeyBanc, Key, Carvana, it's, Roth, Mgmt, Jefferies, Archer, EVEX, Ulta, Corning, Guggenheim Organizations: UBS, Motors, GM, Apple, Citi, Target, Walmart, Netflix, Apple Vision, Meta, Embraer, BMO, Microsoft, Nike Locations: WMT
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