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☆ VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo
▼ + stars: | 2024-10-26 | by ( Ben Bergman | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Venture firms are increasingly investing in competing LLM startups like OpenAI and xAI. Some VCs argue investing in multiple LLMs is strategic, while others see it as unethical. AdvertisementWhen venture firms pull out their checkbooks, there has traditionally been an unspoken rule: Do not back a competitor. Sound Ventures and Wisdom Ventures backed both OpenAI and Anthropic. There is also the matter of money, with only a handful of firms capable of writing the colossal checks required to fund LLM companies.

Persons: VCs, —, Joe Aaron, — Sheel, Andreessen Horowitz, Elon Musk's XAI, Ilya Sutskever, Umesh Padval, Padval, Anthropic, OpenAI, Gregg Hill, they've Organizations: Service, Sequoia Capital, Fidelity, Ark Invest, Sound Ventures, Wisdom Ventures, Thomvest Ventures, Parkway Venture, Madrona Ventures, NASDAQ Locations: OpenAI, Canadian

☆ Americans are feeling better about the economy after the Fed’s jumbo rate cut
▼ + stars: | 2024-10-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington CNN —Americans’ attitudes toward the economy improved this month thanks to lower interest rates. Americans’ expectations for inflation rates in the long run also edged lower this month. “This month’s increase was primarily due to modest improvements in buying conditions for durables, in part due to easing interest rates,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a release. The Federal Reserve last month cut interest rates for the first time in more than four years, by a bold half point, in part thanks to inflation coming under control. Lower borrowing costs make it cheaper for American shoppers to buy durable goods such as appliances, cars and furniture, which are usually bought on credit.

Persons: ” Joanne Hsu, haven’t, ” Robert Frick, Donald Trump Organizations: Washington CNN, University of Michigan’s, Consumers, Federal Reserve, Navy Federal Credit Union, University of Michigan

☆ Yen wobbles, vulnerable to political reverberations
▼ + stars: | 2024-10-25 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged for a photograph in Tokyo, Japan, on July 22, 2015. The yen was last 0.1% lower at 152 per dollar and was looking at a 1.5% loss for the week. The yen has fallen roughly 5.5% for the month thus far, setting it up for its worst monthly decline since April 2022. Against the dollar, the euro last bought $1.08225, some distance away from its low of $1.076125 hit earlier this week. The dollar index last ticked up 0.04% to 104.09, after having scaled a roughly three-month high of 104.57 earlier in the week.

Persons: Ray Attrill, Katsunobu Kato, Janet Yellen, Donald Trump, Nick Rees, Sterling Organizations: of Japan's, Treasury, Liberal Democratic Party, LDP, National Australia Bank, country's Finance, FX, Monex, New Zealand Locations: Tokyo, Japan, Japanese, Germany —

“Taiwan's membership at the IMF would help boost financial resilience,” the Taipei Economic and Cultural Representative Office in Washington said during this week's IMF and World Bank annual meetings. Taiwan also is seeking to participate in the U.N. World Health Organization's annual World Health Assembly and join Interpol. But China, which sees Taiwan as a breakaway province and threatens to annex it by force, has blocked such efforts and insists it represent Taiwan in international forums. The island is now designated as “Taiwan Province of China” in IMF literature. The U.S. House has approved a bill that would direct the United States to advocate for Taiwan’s IMF membership.

Persons: “, Donald Trump, Bo Li, Patrick McHenry, ” McHenry, Young Kim, Fatima Hussein Organizations: WASHINGTON, —, International Monetary Fund, IMF, Cultural, World Bank, U.S, Health Assembly, Interpol, U.S . State Department, People’s Bank of China, Taiwan Academy of Banking, Finance, U.S . House, Democrats, North Carolina Republican, Financial Services, United Nations, Associated Press Locations: — Taiwan, Poland, Taipei, Washington, Taiwan, U.S, China, Taiwan Province, United States, Japan, Taiwan Strait, Beijing, Kosovo, Europe

☆ Big Tech goes nuclear: Amazon's pitch to use power plants shows the crucial role the energy source plays for AI
▼ + stars: | 2024-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, inside Amazon's internal pitch for turning to nuclear power to meet its growing energy needs . AdvertisementThat's led Big Tech to consider nuclear power to address its skyrocketing energy requirements. Nuclear power ticks that box better than other clean energy options like solar or wind. Nuclear power, meanwhile, is an industry in desperate need of some love , BI's Daniel Geiger and Ellen Thomas previously reported. From advertising platforms to AI tech companies, here's the startups to watch .

Persons: —, Jocko Willink, we've, Jenny Chang, Rodriguez, That's, Business Insider's Eugene Kim, Andy Jassy, it's, Sam Altman, Eugene, BI's Hasan Chowdhury, BI's Daniel Geiger, Ellen Thomas, Jim Burke, Vistra, Chelsea Jia Feng, Elon Musk, Jean Boivin, He's, Marc Benioff isn't, bashed, Miles Brundage, OpenAI, Emma Tucker's, Tucker, Mike Jeffries, SpaceX's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Navy, Big Tech, Amazon, Microsoft, Google, Keystone, Hulton, Constellation Energy, Getty, EV, BlackRock Investment Institute, San Francisco, BI, AGI, Abercrombie, Fitch Locations: Fukushima, Pennsylvania, Arizona, New York, London

The rise of online betting has led the commercial gambling industry to balloon worldwide, posing a significant threat to public health, according to a new report. The report, published Thursday, comes from a public health commission on gambling convened by the medical journal The Lancet. The report highlighted the role online gambling has played in the rising availability of commercial gambling as a whole. Belgium, the Netherlands and Ontario, for example, have varying restrictions on gambling advertising, including online gambling. A 2015 paper found that online gambling could lead to the emergence or aggravation of gambling problems.

Persons: “ We’re, ”, Louisa Degenhardt, Heather Wardle, “, FanDuel, Alan Feldman, Feldman, Wardle Organizations: University of New, D.C, American Gaming Association, Pew, University of Glasgow, University of Nevada, Las Vegas, Gaming Institute, MGM, Council for Responsible Gaming Locations: University of New South Wales, Sydney, U.S, Washington, Scotland, Belgium, Netherlands, Ontario, Germany, Spain, Sweden, Norway, Massachusetts , Illinois, Virginia, Pennsylvania, Las

☆ Oil prices edge higher, on track for 3% weekly gain
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged higher on Thursday, recouping some of the more than 1% losses from the previous session after U.S. crude inventories rose much more than estimated. Brent was on track for a 3.2% gain in the week, while WTI was set to rise 2.9%. Last week oil fell more than 7% on worries about Chinese demand and easing concerns about potential disruptions of Middle East oil supplies. Smaller-than-expected rate cuts will temper the reduction in borrowing costs, which in turn could affect economic activity and oil demand. Meanwhile, Israeli strikes pounded Beirut's southern suburbs on Wednesday and Hezbollah said it fired precision guided missiles for the first time at Israeli targets, keeping markets nervous about supply.

Persons: recouping, Brent, WTI Organizations: Brightoil Petroleum, Holdings, Brent, U.S, West Texas, U.S . Energy, Administration, Reserve Locations: Waidiao, Zhoushan, Zhejiang Province, China, Israel, East, U.S, Washington, Iran

☆ Dollar stands tall on bets for slower Fed cuts, potential Trump win
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency. This week, Kansas City Fed President Jeffrey Schmid said he would prefer to "avoid outsized moves", and Philadelphia Fed President Patrick Harker backed "a slow, methodical approach" to further easing. The dollar has now "punched through key technical resistance levels" against the yen, "opening the door for higher levels", Catril said. Although opinion polls indicate a neck-and-neck race with Democratic rival, Vice President Kamala Harris, cryptocurrency-prediction exchange Polymarket has seen a sharp rise in bets for a Trump win.

Persons: Donald Trump, Jeffrey Schmid, Patrick Harker, Rodrigo Catril, Catril, Trump, Kamala Harris, Christine Lagarde, Mario Centeno Organizations: U.S ., Federal Reserve, Kansas, Philadelphia Fed, Treasury, National Australia Bank, UST, Republican, Democratic, Trump, of, Traders, European Central Bank, Wednesday Locations: Japan, Sunday's

☆ A contested election that leads to weeks of uncertainty is a risk being overlooked by markets
▼ + stars: | 2024-10-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Investors should beware of a contested US election, BlackRock's Jean Boivin told Bloomberg TV on Thursday. AdvertisementInvestors are dismissing the risk of a disputed US election, BlackRock Investment Institute head Jean Boivin told Bloomberg TV on Thursday. Recent battleground state polling shows a race too close to call with the election less than two weeks away. Other market strategists have echoed in recent weeks Boivin's concern over what an election dispute would mean for markets. Meanwhile, stocks rose during Trump's election dispute in 2020, likely due to signs that the COVID-19 pandemic was ending.

Persons: BlackRock's Jean Boivin, —, Jean Boivin, Boivin, Donald Trump, Kamala Harris, hasn't, Morgan Stanley, Brian Gardner, George W, Bush, Al Gore, Gardner Organizations: Bloomberg, Service, BlackRock Investment Institute, Trump, Republican Locations: Washington

☆ Sequoia Capital partner Pat Grady is redefining AI investments
▼ + stars: | 2024-10-24 | by ( Ben Bergman | ) www.businessinsider.com time to read: 1 min

The prestigious venture firm Sequoia Capital likes to say all its partners invest in every sector. But more than anyone, the growth-stage partner Grady, part of Business Insider's 2024 AI Power List, has led the firm's AI strategy, making bets on companies including OpenAI, Harvey, and Hugging Face. Along with another partner, Sonya Huang, Grady also wrote a public blog post on Sequoia's website inviting AI founders to email them their ideas and pitches directly. A successful deal for Sequoia is more about investing in the best people rather than at the best price, Grady told Business Insider last year. See Business Insider's full AI Power List

Persons: Grady, Harvey, Sonya Huang Organizations: Sequoia Capital, Sequoia

☆ The 'whale' placing huge bets on a Trump win is a French national with extensive trading experience
▼ + stars: | 2024-10-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Polymarket "whale" placing massive bets on a Trump win next month is a French national. Polymarket confirmed the trader controls four accounts, betting more than $40 million on a Trump win. Polymarket found no evidence of market manipulation and said that betting odds on its website align with other sites. AdvertisementThe "whale" placing big bets on Polymarket in favor of Donald Trump winning the November election is a French national with extensive trading and financial services experience. Kalshi's betting odds favor Trump at 59% compared to 41% for Harris.

Persons: Polymarket, —, Donald Trump, Michie —, Trump, Harris, PredictIt Organizations: Trump, Service, Republican Locations: French

☆ Nike vs. Lululemon: Pairs trading explained and how to execute one with options
▼ + stars: | 2024-10-24 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

Pairs trading is a market-neutral trading strategy that involves simultaneously buying one asset, such as a stock, and selling another related asset. We will review a pairs trade candidate and how to execute it with options. The idea with pairs trading is that, from time to time or over time, there may be a divergence or spread in their prices. Alternatively, another form of pairs trading takes a longer-term and more fundamental perspective. Nike vs. Lululemon Well-known athletic apparel companies Nike (NKE) and Lululemon Athletica (LULU) aren't direct competitors.

Persons: Jim Simons, shorting, Lululemon Athletica, LULU, aren't, Michael Jordan, Tiger Woods, Serena Williams, Lulu, DK Metcalf, Jordan Clarkson, Leylah Fernandez, Lululemon, Lulu hedged Organizations: Ford, General Motors, Technologies, Nike, Seattle Seahawks, NBA, LULU, Lululemon, mojo, CNBC, NBC UNIVERSAL Locations: Lulu

☆ Inside Amazon's nuclear ambitions, its 'Piano Man' project, and CEO Andy Jassy's support
▼ + stars: | 2024-10-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

The company's energy strategy team recently pitched CEO Andy Jassy on the benefits of nuclear power. AdvertisementIn June, Amazon's Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on nuclear power to support its growing network of data centers. Jassy agreed, according to an internal Amazon document from the third quarter that was obtained by Business Insider. The company considered tapping into at least four additional existing nuclear power plants and sought even more small modular reactor deals. Nuclear power can be safer, more reliable, and more cost-efficient in the long term compared to other power sources, according to Jacopo Buongiorno, a nuclear engineering professor at MIT.

Persons: Andy Jassy, —, Thos Robinson, It's, Sam Altman, Jassy, Jacopo Buongiorno, Buongiorno Organizations: Service, Amazon's Global Energy, Business, Amazon, Amazon Web Services, Hulton, Google, Kairos, Microsoft, Amazon's Global Energy Strategy, BI, US Department of Energy, MIT, Global Energy Strategy Locations: Pennsylvania, Fukushima, Maryland, Texas

☆ Here’s why mortgage rates are rising after the Fed’s rate cut
▼ + stars: | 2024-10-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Expectations of a Fed rate cut caused mortgage rates to drop to a two-year low of 6.08% in late September, but it failed to spur homebuying activity. Every percentage point on a mortgage rate makes a big difference for that monthly payment. Here’s what’s driving the recent upswing in mortgage rates. Mortgage rates track the 10-year US Treasury yield, which was expected to fall in anticipation of further rate cuts. “I am clearly not going to own any fixed income.”The government’s fiscal situation might already be having an impact on mortgage rates.

Persons: Freddie Mac, pare, what’s, ” Sam Khater, Freddie Mac’s, Robyn Beck, Donald Trump, Kamala Harris, Harris, “ We’re, Paul Tudor Jones, “, ” Lawrence Yun, Kimberly Bradley, Zach, Kimberly, “ I’ve, ” Kimberly, ” Ken Lowrey, Ken Lowrey, “ homeownership, ”, Lowrey Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Mortgage, Association, Treasury, Getty, Federal Budget, Trump, CNBC, US Postal Service Locations: AFP, Manteo , North Carolina, Charleston , South Carolina

☆ Fed outlook pushes dollar to 2-1/2 month peak; yen under pressure
▼ + stars: | 2024-10-23 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar hovered at a 2-1/2-month peak on Wednesday as investors adjusted bets toward a gradual reduction of interest rates while keeping an eye on a close presidential election race. The yen remained under pressure as the dollar and U.S. Treasury yields marched higher, pushing it to a three-month low. That less dovish outlook for the Fed has helped buoy Treasury yields. The dollar index , which measures the U.S. currency against six others, was last up 0.11% at 104.18 after ticking up to 104.19, its highest since Aug. 2. The rise in U.S. Treasury yields kept the heat on the yen which sank to a three-month low of 151.72 against the greenback.

Persons: Matt Simpson, Kamala Harris, Donald Trump, there's, Index's Simpson, Komeito, Sterling Organizations: U.S, Treasury, Federal Reserve, Fed, Republican, Reuters, Democratic U.S, Markets, Trump, greenback, Liberal Democratic Party, of, European Central Bank Locations: Harris, U.S, Japan

☆ Amazon to shut down speedy brick-and-mortar delivery service
▼ + stars: | 2024-10-22 | by ( Annie Palmer | Annie Palmer Is An Associate Tech Reporter For Cnbc. | ) www.nbcnews.com time to read: +3 min

Amazon is shutting down a service that offers same-day delivery from mall and brick-and-mortar retailers, CNBC has learned. Select retail partners will be able to continue fulfilling orders with Amazon Today through Jan. 24, 2025, Amazon told CNBC. The closure of Amazon Today is the latest example of the company’s broader cost-cutting efforts. Launched in 2022, Amazon Today allows retailers who sell on Amazon to offer speedy delivery from their brick-and-mortar stores and shopping malls in select cities. Amazon Today was part of the company’s push to get online purchases to shoppers’ doorsteps at faster speeds.

Persons: Andy Jassy, Jassy, Jeff Bezos, Amazon’s, ’, Kate Hudson, ” Organizations: CNBC, Amazon, Amazon Today, Employees, Flex, ’, Staples Locations: Jan

☆ Dollar steady at August high on U.S. rates view, election
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge. Four Federal Reserve policymakers expressed support on Monday for further rate cuts, but appeared to differ on how fast or far they believe any cuts should go. With the U.S. election just two weeks away, the rising odds of former President Donald Trump winning the Nov. 5 election are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high. The yen on Tuesday was at 150.57 per dollar, hovering close to the two-and-half-month low of 150.88.

Persons: Goldman Sachs, Donald Trump, Harris, Komeito Organizations: U.S, Reserve, Fed ., Federal, Traders, Fed, Trump, PineBridge Investments, Liberal Democratic Party Locations: U.S, Treasuries

☆ CNBC Pro Talks: China portfolio manager reveals what he's buying right now
▼ + stars: | 2024-10-22 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

As investors ponder how — and where — to invest in China, CNBC's Tanvir Gill will quiz China portfolio manager Jason Hsu on where he sees opportunities in the current market. Hsu previously told CNBC Pro that he was betting on tech — and artificial intelligence in particular — for the long term. Hsu set up Ranmore Fund Management in 2016, prior to which he was co-founder and vice chairman of quantitative asset manager Research Affiliates. Join CNBC Pro Talks on Wednesday, Oct. 23 at 6:30 a.m. BST / 1:30 p.m. SGT / 1:30 a.m. Learn more from our previous Pro Talks: How to play AI in a cheaper way without owning stocks like Nvidia, according to fund manager Fund manager reveals his worst trade of the year — and the lessons he learned Beyond Novo: Fund manager likes this under-the-radar pharma stock Related coverage from Pro: Is it time to invest in China?

Persons: Finance Lan Fo'an, CNBC's Tanvir Gill, Jason Hsu, Hsu, Goldman, Tanvir Gill Organizations: Finance, China's CSI, Rayliant Global Advisors, China Equity, CNBC Pro, China Equity ETF, Ping An Insurance, Midea, Ranmore Fund Management, Research, Anderson School of Management, UCLA, Nvidia, pharma, Wall, Citi Locations: China

☆ Inside the efforts to reach young Black men who might stay home instead of voting
▼ + stars: | 2024-10-22 | by ( Arit John | ) edition.cnn.com time to read: +8 min

Philadelphia CNN —Dozens of Black motorcyclists drove through north and west Philadelphia over the weekend with a simple message for Black men: Go vote. Younger Black men have received increased attention from the Harris campaign in recent days. Since January, Black Men Vote has been reaching out to its target audience in Michigan, Wisconsin and Pennsylvania, where the group says it has registered more than 100,000 Black men to vote. Black Men Vote has also partnered with barbers, who they’ve trained as voting ambassadors to talk to clients about civic engagement. Ninety-two percent of Black voters in the state backed the president, including 89% of Black men and 94% of Black women, according to CNN exit polls.

Persons: –, ’ ”, Mark Kelly Tyler, Kamala Harris ’, isn’t, Donald Trump’s, Harris, Tyjuan Harris, Al Gore, hadn’t, “, ” Harris, “ America’s, ” Joe Paul, they’ve, Paul, Barack Obama, Kamala Harris, she’s, ”, Joe Biden, Biden, Trump, Hillary, surrogates, Jazzy Jeff, Omar Sabir Organizations: Philadelphia CNN, Black, Black Riders, Mother, Mother Bethel AME Church, Republicans, Custom Creations, CNN, Trump, Pennsylvania, Philadelphia Locations: Philadelphia, Mother Bethel, Pittsburgh, West, America, Michigan , Wisconsin, Pennsylvania, Black, Germantown, Philadelphia County

☆ 10 analysts just hiked their price targets on these 3 stocks — including a Big Tech AI firm
▼ + stars: | 2024-10-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A slew of Wall Street analysts last week turned even more bullish on three stocks ahead of their quarterly earnings reports. CNBC Pro screened for stocks in the MSCI World Index that have received share price target upgrades from Wall Street analysts over the past seven days. Despite raising their price target, Phillip Capital analysts have a "neutral" rating on the stock. The median price target of 17 analysts points to 18% upside potential. The company's share price is correlated to the price of gold , and also copper to a lesser degree.

Persons: Barrick, Jeffrey Wlodarczak, Wlodarczak, Zuckerberg, Helena Wang Organizations: Street, Ltd, Barrick Gold, CNBC Pro, Wall Street, Facebook, Research, Limited, New York Stock Exchange, Phillip Capital Locations: U.S, Singapore, SeaMoney, Canada

☆ Why famed short-seller Carson Block won't bet against Tesla
▼ + stars: | 2024-10-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Famed short-seller Carson Block says he wouldn't bet against Elon Musk's Tesla. "I just won't bet against Elon." AdvertisementCarson Block, known for his shrewd short bets against companies, says he won't bet against Tesla. It's an about-face of sorts for Block, who said he'd bet against Tesla in the past. "I just won't bet against Elon."

Persons: Carson Block, Elon Musk's Tesla, Block, Elon, —, Carson, Tesla, Muddy Waters, … Elon, Tesla's, haven't, that's Organizations: Elon, Service, Muddy, Bloomberg

☆ Here's where investors worried about a stock market bubble should put their money, according to a top economist
▼ + stars: | 2024-10-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Investors worried about a market correction should adjust their portfolios, David Rosenberg says. The top economist has warned stocks are in a bubble and at risk of a major decline. Investors need to exercise caution and avoid following the "herd mentality," Rosenberg said, pointing to the fervor for mega-cap tech stocks. Instead, he said, investors should focus on stocks with strong business models, strong growth, and good prices, and add some "insurance" to their portfolios. Most forecasters on Wall Street still expect a strong performance from equities into year-end and 2025.

Persons: David Rosenberg, —, who's, he's, Chuck Prince, Rosenberg, REITs, Goldman Sachs Organizations: Service, Rosenberg Research, Utilities, Aerospace, UBS, BMO, Deutsche Bank Locations: —

☆ Venture capital is going to war over the election. Here's the data to prove it.
▼ + stars: | 2024-10-19 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +10 min

VCs are lobbing cash at the presidential election and key congressional races, FEC data shows. This election cycle, investors at the top venture capital firms have plowed tens of millions of dollars into the election, both backing their favored political candidates and just cannily promoting commercial interests. (The filing deadline for Q3 data for quarterly filing entities was October 15, but this data isn't yet readily available in full online.) Business Insider selected 10 venture capital firms to focus on, taking into account fund size and cultural and industry significance. Sequoia Capital's Doug Leone is one of VC's most prolific GOP-aligned political donors, giving his almost $3.8 million to the National Republican Committee and other causes.

Persons: Reid Hoffman, Kamala Harris, —, hasn't, Andreessen Horowitz, blockchain, Marc Andreessen, Ben Horowitz, a16z, Horowitz, Andreessen, Harris, megadonor Reid Hoffman, Keith Rabois, Kleiner Perkins, Michael Moritz, Shaun Maguire, Joe Manchin, Hoffman, Horowitz Hoffman, Joe Biden, Biden, Nikki Haley, Trump, Vinod Khosla, John Doerr, Doug Leone, Elon Musk, Melia Russell, Rob Price Organizations: Service, Federal, Commission, Yuga Labs, White, Republicans, Founders Fund, SpaceX, Khosla Ventures, Sequoia Capital, Sequoia Heritage, Business, Republican, Lincoln, Democratic, Democratic Party, Democratic Congressional, Sequoia, National Republican, Future Forward PAC, America PAC, Elon, Investors, splashy Hamptons, Harris Victory Fund, Harris Action Fund, Democratic National Committee Locations: Solana, Sequoia, West Virginia, New Hampshire

☆ 5 things to know about the mystery $30 million whale moving betting markets toward Trump
▼ + stars: | 2024-10-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

Since the start of October, there's been a notable divergence between the betting markets and the polls. Where do election odds stand in betting markets now? What's going on with the 'Trump whale' in the betting markets? Is the $30 million 'Trump whale' an influence campaign? Because the betting markets are relatively illiquid, a $30 million bet can have a big influence on moving the odds in favor of Trump.

Persons: Harris, —, Donald Trump, Kamala Harris, there's, Will Donald Trump, Polymarket, Peter Thiel, ethereum's, Vitalik Buterin, Joe Gebbia, Trump, Kalshi, What's, Michie, Arkham, Adam Cochran, Cochran, Elon Musk, Mitt Romney, Barack Obama Organizations: Trump, Service, Street, Arkham Intelligence, Republican Locations: Polymarket, Crunchbase, Wisconsin , Michigan, Pennsylvania, Nevada

☆ Big Tech is spending big on nuclear to power its AI ambitions. Here's where they are placing their bets.
▼ + stars: | 2024-10-18 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Major tech companies are investing in nuclear power to support AI data centers. Nuclear energy provides clean, constant power for data centers. AdvertisementTech companies are turning to nuclear power to advance their AI ambitions. Aside from generating enormous amounts of power, nuclear power is also an attractive choice for companies hoping to meet global net zero goals. AdvertisementHere's a closer look at how tech companies are investing in nuclear energy.

Persons: —, Kathryn Huff Organizations: Service, Tech, Google, Companies, University of Illinois, Department of Energy Locations: University of Illinois Urbana, Champaign

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