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☆ China's AI applications are coming — where it matters for monetization
▼ + stars: | 2023-09-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Around the same time, Tencent announced it is integrating its AI model into advertising content creation, and its own Zoom-like video conferencing app. It's also not clear how powerful China's AI applications currently are, beyond demos and select business partnerships. "Overall we see generally Chinese language model[s] still lag behind the most advanced ChatGPT version 4," CLSA's Tony Zhang said in a phone interview in the last week. Now with Beijing's green light, public-facing AI applications such as Baidu's Ernie bot can be widely used in China. Generative AI and large language model-related revenue contributed to 20% of SenseTime' s revenue in the first half of 2023, Nomura analysts said, citing company management.

Persons: Nomura, Tencent, Coffee, Luckin, Joey Wat, It's, Tony Zhang, –, Ernie, Oliver Wyman's David Xie Organizations: Baidu, KFC Locations: Beijing, China, Taobao, TikTok

☆ Rangers down Blue Jays, move ahead in AL wild-card race
▼ + stars: | 2023-09-13 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

September 13 - Robbie Grossman hit a two-run home run and the visiting Texas Rangers defeated the Toronto Blue Jays 6-3 on Tuesday night. The Rangers (80-64) have won the first two games of the four-game series to move a half-game ahead of the Blue Jays (80-65) in the American League wild-card race. Toronto left-hander Hyun Jin Ryu (3-3) allowed three runs on five hits with one walk and five strikeouts in six innings. The Rangers took a 2-0 lead in the fourth on their first two hits of the game. Biggio took third on pinch hitter Santiago Espinal's double, and a run scored on pinch hitter Ernie Clement's groundout.

Persons: Robbie Grossman, Corey Seager, Davis Schneider, Hyun Jin Ryu, Max Scherzer, Seager, Grossman, Mitch Garver's, Jonah Heim's, Jose Leclerc, Yimi Garcia, Leody Taveras, Josh H, Smith, Tim Mayza, Spencer Horwitz, Leclerc, Brock Burke, Biggio, Santiago Espinal's, Ernie Clement's groundout, Chris Stratton, Burke, Trevor Richards, Travis Jankowski's, Aroldis Chapman, Schneider's Organizations: Texas Rangers, Toronto Blue Jays, Texas, The Rangers, Blue Jays, American League, Toronto, Rangers, Cavan Biggio's, Thomson Locations: Toronto, Texas, Scherzer

☆ Bo Bichette, Blue Jays edge Royals
▼ + stars: | 2023-09-09 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/8] Sep 8, 2023; Toronto, Ontario, CAN; Toronto Blue Jays third baseman Santiago Espinal (5) and Toronto Blue Jays first baseman Vladimir Guerrero Jr. (27) celebrate a win over the Kansas City Royals at Rogers Centre. Mandatory Credit: John E. Sokolowski-USA TODAY Sports Acquire Licensing RightsSeptember 9 - Bo Bichette returned from the injured list and had two RBIs as the Toronto Blue Jays defeated the visiting Kansas City Royals 5-4 Friday night. Bichette, who had been out with a right quad injury, had an RBI double to tie the game at 1-1 in the sixth and an RBI single in the Jays' four-run seventh. Dairon Blanco hit a solo home run for the Royals (44-98) as the teams opened a three-game series. Romano worked around two walks and Perez's RBI single in the ninth to get his 33rd save.

Persons: Santiago Espinal, Vladimir Guerrero Jr, John E, Bo Bichette, Bichette, Dairon Blanco, Collin Snider, Alec Marsh, Yusei Kikuchi, Blanco, Kevin Kiermaier, Davis Schneider, Cavan Biggio, Marsh, Whit Merrifield, Trevor Richards, Freddy Fermin blooped, Nick Loftin, Kyle Isbel, Chad Green, Richards, Austin Cox, Alejandro Kirk's, Carlos Hernandez, George Springer, Tucker Davidson, Ernie Clement, Green, Bobby Witt Jr, Salvador Perez, Tim Mayza, Edward Olivares, Jordan Romano, Romano Organizations: CAN, Toronto Blue Jays, Kansas City Royals, Rogers Centre, Jays, Royals, Toronto, Cavan, Thomson Locations: Toronto , Ontario, Toronto

Tencent has said it was internally testing its Hunyuan AI model on advertising and fintech. Tencent is integrating Hunyuan's capabilities with its existing products for video conferencing and social media, Tong told CNBC. The company operates WeChat, a widely used messaging and payments app in China, and video conference platform Tencent Meeting. Baidu and several other Chinese companies received the green light in the last few weeks to release AI-powered chatbots to the public. "The constraint that we're facing will hinder the progress, the speed of development," Tong told CNBC in response to a question about U.S. restrictions.

Persons: Dowson Tong, Tencent, Tong, Ernie, ChatGPT Organizations: CNBC, Baidu Locations: China, Beijing

☆ Baidu launches a slew of AI applications after its Ernie chatbot gets public approval
▼ + stars: | 2023-09-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Baidu has launched a slew of AI applications after its Ernie chatbot received public approval. BEIJING – Chinese tech giant Baidu announced more than 10 new AI-based applications on Tuesday, just days after its ChatGPT-like Ernie bot was released for public use. The company built the tool using the AI model on which Baidu's Ernie bot is based, as well as Baidu's "Qianfan" cloud platform for AI models, according to a release. Nearly 10,000 businesses are actively using Baidu's Qianfan cloud platform each month, the company claimed. Baidu also announced that more than 6 million users have used an AI-powered tool that sits inside its Google drive-like cloud product.

Persons: Ernie chatbot, Ernie Organizations: Baidu Locations: BEIJING, Shanghai

☆ Baidu CEO says more than 70 large AI language models released in China
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 5 (Reuters) - More than 70 large artificial intelligence language models with over 1 billion parameters have been released in China, Baidu Inc (9888.HK) CEO Robin Li told an industry event in Beijing on Tuesday. Baidu joins several other Chinese companies that launched AI chatbots last week after securing regulatory approval for mass market releases. These include facial recognition firm SenseTime (0020.HK) and AI startups Baichuan Intelligent Technology, Zhipu AI, and MiniMax. Li said the latest version of Baidu's AI chatbot, Ernie 3.5, has processing speed twice that of the previous version with 50% improved efficiency.

Persons: Aly, Robin Li, Baidu, Li, Ernie, Yelin Mo, Brenda Goh, Muralikumar Organizations: Artificial Intelligence, REUTERS, Rights, Baidu Inc, HK, Technology, Baidu, Thomson Locations: Shanghai, China, Rights BEIJING, Beijing

☆ China's government-approved AI chatbots were released to the public this week. Baidu's chatbot Ernie reportedly says a Chinese military takeover of Taiwan is possible.
▼ + stars: | 2023-09-02 | by ( Aaron Mok | Alistair Barr | ) www.businessinsider.com time to read: +4 min

The Chinese government recently approved several generative AI chatbots for public use. Baidu's new Ernie AI chatbot weighed in on the future of Taiwan. Zhipu, from shopping-platform Meituan, gave the best results, he said, though "all the Chinese bots have catching up to do." On Taiwan: When the reporter asked these AI bots whether Taiwan is a country, Ernie declared that a Chinese military takeover of Taiwan is possible, according to the report. When the reporter asked these AI bots whether Taiwan is a country, Ernie declared that a Chinese military takeover of Taiwan is possible, according to the report.

Persons: Ernie AI chatbot, Baidu's, Ernie, Baidu, SenseTime's SenseChat, Bytedance's, Zheping Huang, Tencent's, SenseTime, Xi Jinping Organizations: Bloomberg News, Morning, Baidu, Reuters, Bloomberg Locations: Taiwan, China

☆ China's Baichuan, Zhipu AI launch AI models after receiving approval
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Aug 31 (Reuters) - Chinese artificial intelligence (AI) firms Baichuan Intelligent Technology and Zhipu AI on Thursday opened their AI large language models to the public after receiving approval from Chinese authorities. The companies made the launch announcements in separate WeChat statements. It comes after Baidu said it had received a regulatory nod to launch its artificial intelligence Ernie Bot to the general public starting from Aug. 31. Reporting by Brenda Goh; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Baidu, Ernie Bot, Brenda Goh, Tom Hogue Organizations: REUTERS, Rights, Intelligent Technology, Thomson

☆ Baidu, SenseTime stocks rise from launch of ChatGPT-style AI bots to the public
▼ + stars: | 2023-08-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Chinese tech firms Baidu and SenseTime launched their ChatGPT-style AI bots to the public on Thursday, marking a new milestone in the global AI race. The news sent its shares 3.1% higher in New York on Wednesday and 4.7% higher in Hong Kong on Thursday. Meanwhile, SenseTime, an AI startup based in Hong Kong, also announced the public launch of its SenseChat platform on Thursday. China published new rules on generative AI in July, becoming one of the world’s first countries to regulate the industry. Since then, competitors such as Alibaba (BABA) and SenseTime have announced plans to launch their own ChatGPT-style tools, adding to the list of Chinese businesses jumping on the bandwagon.

Persons: SenseTime, ERNIE Bot, ERNIE, Alibaba, ”, Robin Li Organizations: Hong Kong CNN, Baidu, CNN, Alphabet’s Google Locations: Hong Kong, New York, China, United States

☆ Baidu gets China's green light to release its ChatGPT-like Ernie bot to the public
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

In this article BIDU Follow your favorite stocks CREATE FREE ACCOUNTPictured here is the Ernie bot mobile interface, with the Baidu search engine home page in the background. Future Publishing | Future Publishing | Getty ImagesBEIJING — Chinese tech giant Baidu announced Thursday its ChatGPT-like Ernie bot was now open to the public at large. Baidu released Ernie bot on March 16. At the time, Li said the company was "still waiting for the green light for large-scale rollout of Ernie bot for use in consumer facing apps." Last week, Opera web browser parent Kunlun Tech released to the public an AI-powered chatbot and search engine called Tiangong AI search.

Persons: Ernie, Baidu, OpenAI's ChatGPT, ChatGPT isn't, China's, Robin Li, Li, Tiangong, Ernie bot Organizations: Ernie, Baidu, Publishing, Getty, CNBC, Google, Facebook, Tech, Microsoft, Bank of America Locations: BEIJING, Beijing, China

☆ South Korea's Naver launches generative AI services to compete with ChatGPT
▼ + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

South Korean internet giant Naver released its own generative artificial intelligence tool on Thursday, joining other companies in launching large language models to compete with OpenAI's ChatGPT. Naver is dubbed the Google of South Korea, as the operator of the country's top search engine. The company said its large language model HyperClova X can improve search as well as marketing and shopping experiences for advertisers and users. HyperClova X powers a slate of new applications Naver announced Thursday including generative AI search service Cue: and chat app Clova X.Naver said Clova X can increase work productivity by summarizing documents and running language translation. Naver said Clova X will start beta testing Thursday.

Persons: OpenAI's, Naver, Clova, Kim Yuwon, ChatGPT, —, Bard, Tongyi, Ernie Bot, Kim Organizations: CNBC Locations: South Korea

☆ Baidu beats quarterly revenue estimates on strong advertising
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Baidu sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 22 (Reuters) - Chinese search engine and artificial intelligence company Baidu Inc (9888.HK) beat second-quarter revenue estimates on Tuesday, helped by strength in advertising. Baidu has also been promoting its generative artificial intelligence (AI) large language model (LLM) tool, Ernie, to jump on the AI bandwagon — a trend that has caught the attention of investors and consumers. The company's revenue for the quarter ended June 30 was 34.06 billion yuan ($4.67 billion), compared with analysts' average estimate of 33.28 billion yuan, according to Refinitiv data. ($1 = 7.2928 Chinese yuan renminbi)Reporting by Akash Sriram in Bengaluru and Brenda Goh in Shanghai; Editing by Shilpi Majumdar, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Ernie, Robin Li, Baidu's, Akash Sriram, Brenda Goh, Shilpi Majumdar, Kirsten Donovan Organizations: Baidu, Artificial Intelligence, REUTERS, Baidu Inc, HK, Thomson Locations: Shanghai, China, U.S, Bengaluru

☆ Lucas Glover: How a former Navy SEAL helped golfer overcome 10 years of yips and become the sport’s most in-form player
▼ + stars: | 2023-08-18 | by ( Jack Bantock | Don Riddell | ) edition.cnn.com time to read: +6 min

In 2009, Glover was crowned US Open champion and became the world’s 15th best-ranked golfer. It was time to call in help, and that support arrived in the shape of former Navy SEAL Jason Kuhn. Keyur Khamar/PGA TOUR/Getty ImagesHaving first met with Kuhn in May, Glover began to work with the ex-Navy SEAL shortly after. Glover has a perfect record at the Presidents Cup, triumphing in 2007 and 2009, with Johnson his teammate at both tournaments. The Presidents Cup is a biennial competition between Americans and an international team open to players outside the United States and Europe.

Persons: Lucas Glover, Scotsman Tommy Armour, Ernie Els, Danielle Kang, Bernhard Langer, Glover, ” Glover, CNN Sport’s Don Riddell, “, Mike Segar, Jason Kuhn, Kuhn, Tyler Matzek, Keyur Khamar, –, It’s, he’s, that’d, ”, …, ” Ryder, – Zach Johnson, Ryder, Johnson, I’ve, – I’ve, Robert Galbraith, Reuters Scottie Scheffler, Wyndham Clark, Patrick Cantlay, Brian Harman, Brooks Koepka, Max Homa – Organizations: CNN, Scotsman, Bethpage, Reuters, NCAA Division, Major League Baseball, NCAA, MLB, Navy, Atlanta Braves, ex, Wyndham Championship, FedEx St, Jude, BMW, US Ryder, Rome, US Team, Harding, Golf Club, PGA of America, Team USA, triumphing Locations: Georgia, New York, Illinois, San Francisco , California, Italy, Frisco , Texas, United States, Europe

☆ Earnings this week show shoppers will spend money for value, favoring two retail stocks
▼ + stars: | 2023-08-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

A busy week of retail earnings revealed that American consumers are spending with value top of mind. This disparity signals that certain discretionary goods categories are working while others are not. TGT YTD mountain Target YTD performance Target on Wednesday reported a second-quarter that reflected weak sales along with a slowdown in discretionary spending. TJX YTD mountain TJX Companies YTD performance TJX tells a different story. COST YTD mountain Costco YTD performance Looking ahead, Costco is set to release its fiscal fourth-quarter earnings on Sept. 26.

Persons: Jim Cramer, Matthew Shay, Doug McMillon, Brian Cornell, That's, Maxx, TJX, Ernie Herrman, it's, ROSS, Ross, Jim, Jim Cramer's Organizations: Walmart, TJX Companies, Costco, National Retail Federation, CNBC, Retailers, Health, Wellness, Walmart's, Marshalls, & Beverage, Food & Beverage, Target, Ross Stores, Corbis, Getty Locations: Maxx, TJX, U.S, Teterboro , New Jersey

☆ Shoppers are spending big at T.J. Maxx, HomeGoods as Target sales slide
▼ + stars: | 2023-08-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Cash-strapped consumers may be pulling back on discretionary purchases at Target , but they're spending big on name brands and home goods at off-price TJX Cos. Shares of TJX Cos. reached a new 52-week high on Wednesday, spiking more than 4%. TJX Cos., which runs T.J. Maxx, Marshalls, HomeGoods, Sierra and Homesense in the U.S., raised its full-year outlook for comparable store sales, pretax profit margin and earnings per share following the strong quarter. It anticipates pretax profit margin in the range of 10.7% to 10.8%, and earnings per share between $3.66 and $3.72. Even so, TJX's HomeGoods posted a 4% comparable sales increase as consumers still sought out home decor, throw pillows and other furnishings.

Persons: Cash, Cos, Neil Saunders, TJX Cos, Ernie Herrman, TJX's HomeGoods Organizations: Target, Refinitiv Locations: Cos, Maxx, HomeGoods, Sierra, U.S

☆ Alibaba is doubling down on A.I. — Chinese stocks to watch
▼ + stars: | 2023-08-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Where to play it Where HSBC analysts are looking is in Chinese AI hardware stocks. Its customers also include Nvidia and U.S. and Chinese cloud companies. Based on in-person company visits — which revealed about a third had "lousy management" and not investable — he's decided to focus on Chinese AI and green energy companies. His watchlist of about 90 Chinese AI companies has more than doubled in value this year, Ogan said, noting his firm only owns a handful. However, publicly disclosed figures show the AI company only made net revenue of $48.2 million in 2022, with a net loss of $6 million.

Persons: They're, Tencent, Ernie chatbot, Frank He, Innolight, FII, Taylor Ogan, — he's, Ogan, Yuan Hui, Xiao, That's, Yuan, —, China's, Hua Zang, chatbot Organizations: Baidu, HSBC, HSBC Qianhai, Nvidia, Microsoft, Google, Biden, Snow Bull, Nasdaq, IDG Locations: China, Suzhou, Friday's, U.S, Shenzhen, Shanghai, Beijing

☆ Brian Harman powers to 2023 Open Championship victory, clinching first career major
▼ + stars: | 2023-07-23 | by ( Jack Bantock | ) edition.cnn.com time to read: +19 min

CNN —Brian Harman won the 151st Open Championship on Sunday, sealing the first major of his career in dominant fashion. When Faldo birdied at the subsequent hole, Hoch's hopes of a first major win similarly went up in the air. David Cannon/Getty Images Europe/Getty Images Lorena Ochoa, US Women's Open (2005) Ochoa secured a top-four finish at the 2005 US Women's Open. Not when you led at the final hole. A par at the final hole would have been enough to put the American into the playoff, but an agonizing missed putt [pictured] epitomized her painful afternoon in San Francisco.

Persons: Brian Harman, Australia’s Jason Day, Austria’s Sepp Straka, Tom Kim, Jon Rahm, Harman, “ I’m, ” Harman, Osullivan, Brooks Koepka, Wyndham Clark, Rahm, Kim, Rory’s, Argentina’s Emiliano Grillo, ” McIlroy, “, ”, Luke Walker, Greg Norman, France’s Jean van de Velde, –, McIlroy, Andrew Redington, Sam Snead, Snead, Lew Worsham, Louis, Arnold Palmer, Palmer, Billy Casper, Casper, Ed Sneed, Sneed, Fuzzy Zoeller, Tom Watson, Watson, Scott Hoch, Hoch, Nick Faldo, skyward, Faldo birdied, Hoch's, Mark Calcavecchia, Calcavecchia, Colin Montgomerie, Germany's Bernhard Langer, Norman, Faldo, David Cannon, Jean Van De Velde, Van De, Van De Velde, Frenchman, Barry Burn, Paul Lawrie, Lorena Ochoa, Ochoa, Birdie Kim, Harry, Phil Mickelson, Mickelson, Lefty, Geoff Ogilvy, Ezra Shaw, Stewart Cink, Warren Little, Dustin Johnson, Johnson, Graeme McDowell, Donald Miralle, Jason Dufner, Dufner, Keegan Bradley, Bradley, Adam Scott, Ernie Els, Scott, Jordan, Buddy, Jordan Spieth, Danny Willett, Spieth, Jim Watson, Lexi Thompson, Yuka Saso, Thompson, Sean M, Mito Pereira, Pereira, Justin Thomas, Will Zalatoris, Christian Petersen, Van de Velde, Stuart Franklin, Ghostbuster Harman, Tommy Fleetwood, Read, Brian Harman shrugs, unflappable Organizations: CNN, 151st, PGA, Reuters, Northern, Royal Liverpool, PGA Championship, North, Louis Post, Bettmann, Augusta, Augusta National, Getty, Ryder, American, Scottish, Team Europe, . Augusta National, Barry Burn . Pictures, South Korean, Chevron, Royal Lytham, Nasa, Mito, Southern Hills Country Club, eventual Locations: Royal Liverpool, South, Georgia, Carnoustie, Augusta, North America, San Francisco, Kiawah, Europe, Jean Van De Velde , British, Scotland, Mexican, British, Turnberry, Atlanta, American, New York, St, Annes, squander, Tulsa, Liverpool, Harman’s

☆ Mickelson, Morikawa miss Open cut, Smith just makes it
▼ + stars: | 2023-07-21 | by ( Ed Osmond | ) www.reuters.com time to read: +2 min

[1/3] Golf - The 151st Open Championship - Royal Liverpool, Hoylake, Britain - July 21, 2023 Phil Mickelson of the U.S. at the 1st tee during the second round REUTERS/Phil NobleHOYLAKE, England, July 21 (Reuters) - Americans Phil Mickelson and Collin Morikawa were among former champions to miss the cut in the British Open at Hoylake on Friday. "It was nice," Smith told reporters. Defending is one thing, but just the golf that I feel like I'm playing and to miss out on the weekend would be very frustrating." Fifty-year-old American Stewart Cink, Open champion in 2009, did make the weekend after adding a 73 to his opening 68 to finish at one under alongside 2016 winner Henrik Stenson of Sweden. Two former St Andrews Open champions also advanced on two over par, South African Louis Oosthuizen, winner of the Claret Jug in 2010, and American Zach Johnson who lifted the trophy in 2015.

Persons: Phil Mickelson, Phil Noble HOYLAKE, Collin Morikawa, Cameron Smith, Smith, Brian Harman, Mickelson, Francesco Molinari, Shane Lowry, John Daly, Darren Clarke, Ernie Els, Dustin Johnson, Justin Thomas, Justin Rose, Italian Molinari, Stewart Cink, Henrik Stenson, Sweden, South African Louis Oosthuizen, Zach Johnson, Ed Osmond, Pritha Sarkar Organizations: 151st, Royal, REUTERS, Sandwich, Carnoustie, St Andrews, South, Thomson Locations: Royal Liverpool, Hoylake, Britain, England, British, Australian, Muirfield, South African

☆ Els blasts PGA Tour board over merger with 'circus golf' LIV series
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

July 21 (Reuters) - Former world number one Ernie Els said the PGA Tour board should step down over the decision to merge their commercial operations with the LIV Series and described the Saudi-backed breakaway circuit as "circus golf". Els said the way the PGA Tour went about the merger without player input was an "absolute shambles" and that PGA Tour Commissioner Jay Monahan would not still be in the role if it was up to him. Don't just go rogue as a member of the board and come back with a deal and think we're all going to say 'yes'. Team golf doesn't work," added Els, who won the British Open in 2002 and 2012. That's what I prided myself on, like Tiger (Woods) and some of these guys, getting yourself into majors and grinding."

Persons: Ernie Els, Els, Jay Monahan, it's, It's, Rohith Nair, Peter Rutherford Organizations: PGA Tour, PGA, Royal Liverpool Golf Club, Thomson Locations: Saudi, Bengaluru

☆ Goldman Sachs shares its top stock picks for China A.I. — and 2 are on its conviction list
▼ + stars: | 2023-07-20 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

In two research notes dated July 16, Goldman gave an overview of opportunities and risks created by generative AI and picked the stocks likely to benefit. In its base case scenario, the bank said, it expects generative AI to add 151 billion yuan ($21 billion) to the cloud computing market in China by 2027. "We see Alibaba as one of the best value stock proxies to enjoy the advertising recovery, fintech … and cloud structural growth," the analysts said. The bank described it as a "key AI beneficiary given its multi-year investments as an AI leader in China." We continue to see Tencent as a key advertising recovery proxy helped by Video Accounts and broader WeChat ad recovery."

Persons: Goldman Sachs, Goldman, Ronald Keung, fintech, chatbot Ernie, Tencent, Michael Bloom Organizations: Baidu, China Internet, Video Locations: China

☆ Carvana CEO Ernie Garcia: I think we have 'more comeback in us'
▼ + stars: | 2023-07-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Carvana CEO Ernie Garcia: I think we have 'more comeback in us'Carvana CEO Ernie Garcia joins 'Mad Money' host Jim Cramer to talk today's stock move, the state of the company after a rough year and more.

Persons: Ernie Garcia, Jim Cramer

☆ Carvana shares jump more than 20% on deal to reduce debt by $1.2 billion
▼ + stars: | 2023-07-19 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Carvana has reached a debt restructuring agreement that will reduce the used car retailer's total debt outstanding by more than $1.2 billion, the company said Wednesday. Shares of the company jumped more than 20% in premarket trading Wednesday after being off roughly 7% before the announcement. Carvana stock this year has soared from roughly $4 per share to start the year to roughly $40 as of Tuesday's close. Carvana said its restructuring agreement covered roughly $5.2 billion of senior, unsecured bonds and included Apollo Global Management, its largest bondholder. Carvana's debt before the deal was roughly $8.5 billion, including $5.7 billion, or 74.5%, in unsecured notes, according to FactSet.

Persons: Carvana, Mark Jenkins, Ernie Garcia Organizations: Apollo Global Management, Refinitiv, Refinitiv . Locations: maturities

☆ Carvana CEO Ernie Garcia: This comeback happened because customers love our model
▼ + stars: | 2023-07-19 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarvana CEO Ernie Garcia: This comeback happened because customers love our modelCarvana CEO Ernie Garcia joins 'Mad Money' host Jim Cramer to talk today's stock move, the state of the company after a rough year and more.

Persons: Ernie Garcia, Jim Cramer

☆ Carvana CEO talks unexpected comeback and billion dollar debt restructuring deal
▼ + stars: | 2023-07-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Ernie Garcia, the CEO of online used car retailer Carvana , discussed his company's unexpected comeback with CNBC's Jim Cramer on Wednesday. Carvana moved its second-quarter earnings report up to Wednesday and reported revenue at $2.97 billion, comfortably topping the $2.59 consensus estimate. He also said lower car prices are actually better for business and for customers, and that the company usually provides next-day delivery but is currently testing same-day delivery. "We had some of our most successful years when car prices were much lower, so we would love for car prices to go lower," Garcia said. The last couple years have been characterized much more by car prices going up than going down.

Persons: Ernie Garcia, CNBC's Jim Cramer, Carvana, Garcia, we've Organizations: Carvana

When asked to recount the events of June 4, 1989, the chatbot rebooted itself. On Taiwan, Ernie did not pull any punches:The People’s Liberation Army is ready for battle, will take all necessary measures and is determined to thwart external interference and “Taiwan independence” separatist attempts. According to historical records, Louis XV often uttered this phrase when he ruled France at the end of the 18th century. OpenAI released a plug-in this year that enabled its chatbot to surf the web through Microsoft’s Bing. researchers have used to gauge a chatbot’s human-level intuitions:“Here we have a book, nine eggs, a laptop, a bottle and a nail.

Persons: Ernie, chatbot, Vladimir V, Putin, “, ChatGPT, crackdowns, ”, Louis XV, Jean, Jacques Rousseau, Marie Antoinette, Linda Yaccarino, Jack Dorsey, OpenAI, Microsoft’s Bing Organizations: People’s, Army, Baidu, Twitter Locations: United States, Taiwan, Ukraine, Russian, Russia, France, French

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