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☆ OpenAI's releasing a new AI model soon, and there's a lot at stake
▼ + stars: | 2024-07-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, what to expect from OpenAI's newest AI model that's in the works. GPT-5, the newest model upgrade for OpenAI's chatbot, is coming soon . AdvertisementOpenAI has a lot riding on its newest model, including its ability to get customers to cough up more cash. That's not ideal for a company that's preparing to take on one of the biggest juggernauts in tech: Google's Search.

Persons: —, Z's, Let's, Nordin Catic, OpenAI, Darius Rafieyan, Darius, ChatGPT, Justin Sullivan, Chelsea Jia Feng, it's, Sam Altman, Ned Davis, David Solomon, Goldman Sachs, David Zalubowski, Chiang Ying, Mark Zuckerberg, Jensen Huang, Alexa von Tobel, Tyler Le, Mark Zuckerberg's, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Getty, OpenAI, Ned Davis Research, Blackstone, Harvard, Microsoft, Starbucks, Apple, Apple Intelligence, Fed, Meta, Boeing, Kraft Locations: undergrad, New York, China, London

☆ 'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings
▼ + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Read previewAll eyes are on Meta Platforms with the company set to report its second-quarter earnings results after the market close on Wednesday. AdvertisementHere's what Wall Street expects from Meta's second-quarter earnings report. Looking forward, Post highlighted that a potential TikTok ban in early 2025 could provide a big boost to Meta's advertising business. Advertisement"With political spend, and potential TikTok ban in 1Q'25, Meta could also see an ad spend benefit in 2H'24," Post said. The company also has the potential to offer guidance on the monetization potential of its licensing of Llama, its open-source large language model.

Persons: —, Meta, Justin Post, Ronald Josey, Josey, Wells, Wells Fargo, Ken Gawrelski, Gawrelski, Mizuho, James Lee, Lee, Mandeep Singh, Singh Organizations: Service, Meta, Nvidia, it's, Business, Bank of America, Citi, Cannes, Mizuho, Bloomberg Intelligence Locations: monetizing, Wells Fargo

☆ Google's AI Olympics ad is drawing jeers online but scores surprisingly well among viewers
▼ + stars: | 2024-07-30 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +6 min

Read previewAn Olympics ad from Google depicting a father using its Gemini AI assistant to help his daughter compose a letter to her favorite athlete has drawn sharp criticism from online commentators. Google's "Dear Sydney" spot first aired on TV during the broadcast of the opening ceremony on July 24 and is also available on YouTube. Related stories"It follows a coherent story, focuses on characters with agency and vitality, and prioritizes people over the product," said Jon Evans, System1 chief customer officer, of Google's ad. Still, several ad experts have said Google's marketing department — which created the ad in-house rather than using an ad agency — should have done a better job of reading the room. The "Dear Sydney" spot was still airing on US TV on Tuesday morning, according to the measurement firm iSpot.

Persons: —, USA's Sydney McLaughlin, McLaughlin, Shelly Palmer, Syracuse University's S.I, Jon Evans, Evans, System1, Kevin, Sabrina, Sydney, Maani Safa, Poppins, Safa, Malcolm Poynton, didn't, Lorraine Twohill, Josh Green Organizations: Service, Google, Gemini, Business, Paris Olympics, YouTube, Team USA, Syracuse University's, Newhouse School of Public Communications, NBC Sports, Cheil Locations: Paris

☆ Google’s Olympics ad went viral for all the wrong reasons
▼ + stars: | 2024-07-29 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

Well, a new Google ad says artificial intelligence can now do that for you. It shows the young girl training to compete like her hero, thanks to hurdling technique tips generated by Google’s AI search feature. But many early AI tools seem to do the opposite, instead enabling computers to generate traditionally human creative outputs such as art, music and stories. And yet tech firms have forged ahead with rolling out AI tools that can create new emojis, speak and even generate videos. Google did not respond to CNN’s request for comment regarding the backlash to the Gemini ad.

Persons: Mickey Mouse, It’s, Sydney McLaughlin, “, Google’s, McLaughlin, OpenAI’s, Deadspin Will Leitch, ” Shelly Palmer, Syracuse University’s S.I, ” Apple, Sonny, Cher’s, Apple Organizations: New, New York CNN, Olympics, Google, Big Tech, Tech, Syracuse University’s, Newhouse School of Public Communications Locations: New York

☆ Bitcoin tests $70k after Trump says US will be 'crypto capital of the planet'
▼ + stars: | 2024-07-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

During remarks over the weekend, Donald Trump said he wants to make the US a "bitcoin superpower." Trump said he has raised $25 million in crypto donations over the last two months. AdvertisementDuring remarks a weekend bitcoin conference, presidential hopeful Donald Trump pledged to make the US the "crypto capital of the planet, and the bitcoin superpower of the world" if elected in November. Kennedy, a staunch crypto supporter, said Trump's policies while in office capped the currency's growth and reminded the audience that Trump once called Bitcoin "a scam against the dollar." AdvertisementTrump's comments follow his party's recent growing support for crypto.

Persons: Donald Trump, Bitcoin, Trump, —, Gary Gensler, Robert F, Kennedy Jr, Kennedy, Ross Ulbricht, he's, He's, Cameron, Tyler Winklevoss Organizations: Service, SEC, Twitter, Gemini, Trump, Assets, Government Surveillance Locations: Nashville

☆ Search competition fears hit Alphabet stock yet again. We see no reason to join the sellers
▼ + stars: | 2024-07-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

ChatGPT creator OpenAI on Thursday announced a prototype of its search engine, SearchGPT, in an effort to directly compete with Google Search. "Not really seeing any decline in web traffic away from web search" despite the popularity of AI chatbots," Marks said Friday. Alphabet's efforts to incorporate generative AI into Google Search — dubbed "AI Overviews" — are resonating with users, CEO Sundar Pichai said on the conference call. He added that people are looking for help with complex topics are engaging more and keep coming back for AI Overviews. To be sure, the AI threats to Google Search is not the only question on Alphabet investors' minds.

Persons: OpenAI, Jeff Marks, It's, Marks, OpenAI's SearchGPT, Bing, That's, Rosenblatt, Alphabet's, Sundar Pichai, Pichai, There's, Jim Cramer's, Jim Cramer, Jim, Idrees Abbas Organizations: Google, Microsoft, Nasdaq, Investor, Rosenblatt, Bing, Bank of America, Citigroup, Citi, Management, CNBC, Getty

Trump, the Republican nominee for president, has raised more than $4 million from a mix of digital tokens, a campaign aide told CNBC. At least 19 donors contributed more than $2.15 million bitcoin to the committee, the filing shows. Brian Hughes, a Trump campaign aide, said that of the more than $4 million in crypto raised, most of it arrived in bitcoin. "While the Biden-Harris Administration stifles innovation with more regulation and higher taxes, President Trump is ready to encourage American leadership in this and other emerging technologies." Thus far, it appears the Trump campaign is mostly converting these contributions immediately to USDC and then liquidating the donations.

Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Tyler, Cameron Winklevoss, Mike Belshe, Tyler Winklevoss, Eva Marie Uzcategui, he's, Marc Andreessen, Ben Horowitz, Brian Hughes, Kamala Harris, Hughes, Harris, shiba inu, Jesse Powell, Stuart Alderoty, Alderoty, David Sacks, Ryan Selkis, Sen, Elizabeth Warren, Warren, Ohio Sen, JD Vance, Vance Organizations: Van, Getty, NASHVILLE, Republican, CNBC, U.S, Trump, Republican National Committee, State Department, Gemini Trust, Bloomberg, Solana, Bitcoin, Music City Center, Democratic, Biden, Harris Administration, IRS, Libertarian National Convention, Ohio, Biden White, SEC Locations: Grand Rapids , Michigan, Tennessee, bitcoin, Miami , Florida, U.S, Nashville, San Francisco, USDC, Washington, Lago, Florida

☆ Mark Zuckerberg is tired of playing by Apple's rules
▼ + stars: | 2024-07-24 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Read previewMark Zuckerberg sounds tired of having to navigate Apple's restrictions. "One of my formative experiences has been building our services constrained by what Apple will let us build on their platforms," Zuckerberg wrote. Zuckerberg expanded on his critique of Apple in an interview with AI news YouTuber Rowan Cheung, also published Tuesday. "Compared to the Apple approach of coupling your operating system with the device, the Windows approach was a more open ecosystem," he said. AdvertisementAnd Zuckerberg hopes Meta will also be on the winning side.

Persons: —, Zuckerberg, OpenAI, Rowan Cheung, doesn't, David Wehner, Zuck, Meta, I've Organizations: Service, Apple, Business, Meta, Apple Intelligence

☆ Alphabet's earnings show investors are impatient for the data on AI returns. No one has the answer yet.
▼ + stars: | 2024-07-24 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIn Tuesday's earnings call, investors repeatedly pressed Alphabet's leadership team for more information about how its AI initiatives are performing and how they would generate revenue, but executives remained tight-lipped. In April the CEO of Google DeepMind, Demis Hassabis, said that Google plans to invest more than $100 billion over time to develop AI technology. Advertisement"On the cloud and AI stuff, you know, it's obviously, you know, you know, something which I think will end up being a big driver over time," Pichai said. The company's cloud business crossed $10 billion in revenue for the first time, reaching $10.3 billion — fueled in part by AI demand, Pichai said.

Persons: —, Sundar Pichai, Philipp Schindler chimed, Pichai, Schindler, Demis Hassabis Organizations: Service, Business, Google, AIs, YouTube

☆ Google dangles bomber jackets and spot bonuses in search for 'Golden Prompts' for AI, leaked documents show
▼ + stars: | 2024-07-23 | by ( Hugh Langley | ) www.businessinsider.com time to read: +1 min

Google held an internal competition for employees to pitch AI prompts for its Workspace product. Google offered winners golden bomber jackets and even spot bonuses. AdvertisementAt Google's IO conference in May, executive Aparna Pappu showed off new AI features for the company Workspace productivity service. In search of ideas, Google held a competition for employees to suggest "golden prompts" for Workspace, according to internal documents reviewed by Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: —, Aparna Pappu Organizations: Google, Microsoft, Service, Business

☆ Alphabet reports earnings after the market close. Here's how analysts see it playing out
▼ + stars: | 2024-07-23 | by ( Sean Conlon | ) www.cnbc.com time to read: +5 min

Alphabet is set to report second-quarter earnings after the market closes Tuesday, one of the first of the " Magnificent Seven " to post its results this earnings season. For Google search revenue, Wolfe Research estimates growth of 12.6% compared to the prior-year period. Wolfe has an outperform rating on Alphabet and a share price target of $240, implying more than 32% upside from Monday's close. Deutsche Bank, Bank of America and TD Cowen all increased their price targets on the stock heading into earnings. GOOGL mountain 2024-07-22 Alphabet, 2-day Bernstein analyst Mark Shmulik also chooses to stay neutral, rating Alphabet market perform.

Persons: LSEG, Baird, Colin Sebastian, Wolfe, Shweta Khajuria, TD Cowen, Benjamin Black, Justin Post, John Blackledge, Barton Crockett, Rosenblatt, Bernstein, Mark Shmulik, Shmulik Organizations: Google, Wolfe Research, Deutsche Bank , Bank of America, Bank of America, YouTube, Rosenblatt Securities, Department of Justice, DOJ

☆ Alphabet set to report Q2 earnings results after the bell
▼ + stars: | 2024-07-23 | by ( Jennifer Elias | ) www.cnbc.com time to read: +5 min

Google parent company Alphabet is set to report its second-quarter earnings Tuesday after the market closes. They expect modest growth in key areas such as cloud and overall revenue, after a quarter of leadership moves, AI announcements and market expansions. During the second quarter, Alphabet saw a number of expansion updates, including for its self-driving car unit Waymo, which opened its service to all San Francisco users. Reid urged employees to continue pushing AI products, suggesting they can fix mistakes as users and employees find them. Alphabet also announced a new finance chief, Anat Ashkenazi, who came from Eli Lily, the world's most valuable drugmaker.

Persons: Sundar Pichai, Barack Obama, America's, Liz Reid, Reid, Anat Ashkenazi, Eli Lily, Ashkenazi, Ruth Porat Organizations: Google, LSEG Revenue, TAC, CNBC Locations: Francisco, Phoenix, India, Mexico

☆ 'Botshit' is an example of how AI is making customer service worse
▼ + stars: | 2024-07-22 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Air Canada's customer service chatbot told Moffatt he could claim the discount after the flight. Botshit is one example of how the use of AI might worsen companies' customer service. In January, a UK parcel company removed its new AI customer service chatbot after it swore at a customer. AdvertisementAnd when Google rolled out its AI chatbot Gemini earlier this year, it produced historically inaccurate images of people of color. However, the researchers argued that customer service is the least risky use of AI for businesses.

Persons: —, Jake Moffatt's, chatbot, Moffatt, Ian P, McCarthy, Timothy R, Hannigan, André Spicer, Edelman, What's, Dan Davies, Sundar Pichai, Spicer Organizations: Service, Air Canada, Air, Business, Harvard, Edelman Data, Intelligence, Microsoft, LinkedIn, Google Locations: Canada's, New York

☆ The Microsoft-CrowdStrike outage could spur a Big Tech trust reckoning and threaten tech giants' plans for AI
▼ + stars: | 2024-07-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +6 min

It also exposes the fragility of those systems and raises the question: Does Big Tech deserve our trust to properly safeguard a technology as powerful as AI? He said Big Tech companies evaluate systems based on if they work "pretty well most of the time," because there's a rush to get products to market. He said big tech companies should have alternative vendors and a multi-layered defense strategy. Big Tech companies, including Facebook, Amazon, and Google, saw the sharpest drop in trust, with an average decline in confidence ratings of 13% to 18%, according to Brookings. Big Tech companies have had "free rein," Patnaik said.

Persons: —, CrowdStrike, Gary Marcus, Marcus, John Schulman, Dan O'Dowd, there's, Javad Abed, Johns Hopkins, Abed, Sanjay Patnaik, Patnaik Organizations: Service, Big Tech, Tech, Business, Microsoft, Geometric Intelligence, Uber, Tesla's, BI, Companies, Google, Adobe, US Department of State, Johns, Carey Business School, Brookings Institution, Facebook Locations: Brookings

☆ Biggest risks of using gen AI like ChatGPT, Google Gemini, Microsoft Copilot, Apple Intelligence in your private life
▼ + stars: | 2024-07-12 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

Many consumers are enamored with generative AI, using new tools for all sorts of personal or business matters. From OpenAI's ChatGPT to Google's Gemini to Microsoft Copilot software and the new Apple Intelligence, AI tools for consumers are easily accessible and proliferating. How is your information used and how might it be used? If you're entering a confidential document, the AI model now has access to it, which could raise all sorts of concerns. Set a short retention period for generative AI for searchConsumers might not think much before they seek out information using AI, using it like they would a search engine to generate information and ideas.

Persons: Jodi Daniels, Daniels, Andrew Frost Moroz, Frost Moroz, Jacob Hoffman, Andrews, Hoffman, you've Organizations: Microsoft, Apple Intelligence, Red Clover Advisors, Apple, Company, Aloha, OpenAI, ChatGPT, Frontier Foundation Locations: Miami , Florida

☆ Apple seems super confident that AI will make you want to buy a new iPhone
▼ + stars: | 2024-07-11 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Read previewIt seems Apple is quietly confident about the power of AI to sell iPhones. Apple's AI ambitions face challengesFor one, Apple's sagging iPhone sales have been no short-term blip. Related storiesIn its last full financial year, iPhone sales were down to $200 billion from $205 billion the previous year. It means Apple will need its AI offering to be strong enough to change consumer behaviour. AdvertisementThe bigger question looming over Apple is whether users care about AI enough to shell out for upgrade.

Persons: —, Tim Cook, Apple, EMMANUEL DUNAND, Apple's, it's, OpenAI Organizations: Service, Bloomberg, Apple Intelligence, Business, Apple, Samsung, Worldwide Developers, Google, South, Galaxy Locations: China

☆ Samsung’s AI-powered foldable phones get slimmer, thinner, pricier
▼ + stars: | 2024-07-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

CNN —Samsung’s latest generation of foldable phones aim to draw in traditional phone users with the help of artificial intelligence. The new Galaxy Z Fold starts at $1,899.99, up $100 from last year, and is available in silver, pink and navy. Meanwhile, the Z Flip starts at $1,099.99 (also $100 more than last year) and comes in silver, yellow, blue and mint. Samsung’s foldable line occupies between 80% and 85% of the market share. But those same people might prefer to sleep with a smart ring on their finger rather than a smartwatch on their wrist.

Persons: CNN —, Price, David McQueen, ”, Roh —, —, “, ” Roh, Gemini, Samsung’s, Siri, McQueen, Roh, Oura, Francisco Jeronimo, ” Jeronimo Organizations: CNN, ABI Research, Galaxy, Google, Huawei, Motorola, Apple, Samsung, IDC Research, IDC Locations: Paris, wearables

☆ Opinion: The problem with de-aging our megastars
▼ + stars: | 2024-07-04 | by ( Opinion Holly Thomas | ) edition.cnn.com time to read: +6 min

Thanks to de-aging technology, De Niro portrayed Sheeran throughout his life, the lines on his face digitally smoothed. There are a few ways to make actors appear younger on screen using technology, each with advantages and disadvantages. In 2019’s “Gemini Man," the younger version of Will Smith’s character Henry Brogan has a fully CGI head. There’s an excruciating bit in “The Irishman” when a supposedly young Sheeran kicks another character out of his shop. This, really, is why de-aging megastars always feels a bit icky.

Persons: Holly Thomas, Katie Couric, Robert De Niro’s, ” De Niro, Vito Corleone, Marlon Brando, De Niro, Frank Sheeran, Martin Scorsese’s, ”, Sheeran, De, Thomas, Tom Hanks, Robin Wright, Robert Zemeckis, Hanks ’, Will Smith’s, Henry Brogan, Andy Serkis’s Gollum, ” Sheeran, Niro, Smith, Quentin Tarantino, acclimated, “, George Miller, Max, Charlize Theron, Indiana Jones, Harrison Ford, Marvel, Samuel L Jackson, Nick Fury, megastars, Hanks, Timothée Chalamet, Casey Affleck, ” Gwyneth Paltrow, Maggie Smith, Michael Cera, Sam Rockwell, Brando Organizations: Katie Couric Media, CNN, Paramount Pictures, Skydance Media, ” Indy Locations: London

☆ Google’s greenhouse gas emissions are soaring thanks to AI
▼ + stars: | 2024-07-03 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

AI systems need lots of computers to make them work. The end result has been that Google’s greenhouse gas emissions have soared 48% since 2019, according to the tech giant’s annual environment report. An October study from Dutch researcher Alex de Vries estimated that the “worst-case scenario” suggests Google’s AI systems could eventually consume as much electricity as the country of Ireland each year, assuming a full-scale adoption of AI in their current hardware and software. It added that data center electricity consumption is currently growing faster than it can bring carbon-free electricity sources online. The company has also used AI to suggest more fuel-efficient routes to drivers using Google Maps.

Persons: —, Sundar Pichai, Alex de Vries Organizations: New, New York CNN, Google, Big Tech, International Energy Agency Locations: New York, Ireland

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ It's dangerously easy to 'jailbreak' AI models so they'll tell you how to build Molotov cocktails, or worse
▼ + stars: | 2024-06-30 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

A jailbreaking method called Skeleton Key can prompt AI models to reveal harmful information. The technique bypasses safety guardrails in models like Meta's Llama3 and OpenAI GPT 3.5. Microsoft advises adding extra guardrails and monitoring AI systems to counteract Skeleton Key. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt doesn't take much for a large language model to give you the recipe for all kinds of dangerous things.

Persons: —, Mark Russinovich Organizations: Microsoft, Service, Business

☆ A new era of smartphone wars is about to begin
▼ + stars: | 2024-06-30 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Competition may have died down but the original smartphone wars were so intense for Steve Jobs he once declared that he'd start a "thermonuclear war." Smartphone wars in the AI eraThe smartphone market has been lagging. The company will be banking on Apple Intelligence being a hit with consumers, potentially revitalizing sales in markets like China. Samsung Galaxy S24 lineup. SamsungThe South Korean tech giant must be hoping to regain its crown as king of the smartphone market.

Persons: —, Steve Jobs, Jobs, Walter Isaacson, Justin Sullivan, Assurant, Tim Cook, Siri, Apple, OpenAI, iPhones, Wang Gang, it's Organizations: Service, Apple, Samsung, Business, Android, Google, Samsung Galaxy, Samsung's, Apple Intelligence, Worldwide, Huawei, Project Astra, Galaxy, South, IDC Locations: China, Paris

☆ Bitcoin blues could extend into July but outlook for the second half is upbeat
▼ + stars: | 2024-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Bitcoin's blues could linger throughout July, but investors are still optimistic about the cryptocurrency in the second half of the year. July is usually a strong month for bitcoin, which has finished higher for the month in seven of the last 11 years, according to CoinGlass. "There are always other known potential sources of bitcoin supply from government for example, but it's always uncertain when that's coming to market. This week, the crypto market was startled when the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges, according to CryptoQuant. Marion Laboure, senior strategist at Deutsche Bank Research, said growing demand for crypto ETFs will help keep bitcoin's price "elevated" in the months ahead.

Persons: bitcoin, Zach Pandl, it's, JPMorgan's Nikolaos Panigirtzoglou, Pandl, Trump, Marion Laboure, 21Shares, Michael Bloom Organizations: Metrics, Federal, U.S ., Deutsche Bank Research, Solana Locations: U.S, Mt

Amazon will double the value of credits it offers some startups to use its cloud infrastructure, CNBC has learned, as the company faces heightened competition from Microsoft in artificial intelligence services. Seed-stage startups will still be eligible for $100,000 in credits, AWS said. But Microsoft Azure and Google Cloud are growing more quickly, and are benefiting from rapidly advancing AI models. During Selipsky's time at the helm, Microsoft and Google increased their share of the cloud infrastructure market. Participants will be able to access up to $1 million in cloud credits, according to the website.

Persons: Matt Garman, Garman, Garman's, OpenAI, Anthropic, Adam Selipsky, Grant, Amazon's, Rohit Prasad, David Luan Organizations: Amazon Web, CNBC, Microsoft, AWS, Google, Gemini Locations: Las Vegas, Silicon, Silicon Valley

☆ CEOs from Mark Zuckerberg to Sundar Pichai explain why companies are making cuts this year
▼ + stars: | 2024-06-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

A number of Big Tech companies have laid off staff this year, including Google, Tesla, Apple, and dozens more. Ironically, companies haven't been slowing down on innovation, with many releasing a constant stream of AI updates and product launches. Mark Zuckerberg shared his theory on the first round of industry-wide layoffs in an interview with "Morning Brew Daily" in February. AdvertisementSalesforce CEO and cofounder Mark Benioff also relayed the same sentiment in a letter to employees announcing layoffs in 2023. But for the moment, tech companies don't seem to be slowing down on AI advancement.

Persons: —, Mark Zuckerberg, Jason Citron, Sundar Pichai, Mark Benioff, Zuckerberg, Emily Chang, Wayfair's cofounders, Niraj Shah, Steve Conine, Jobs, Satya Nadella, Arvind Krishna, Drew Houston Organizations: Service, Big Tech, Google, Apple, Business, Bloomberg, ARM, IBM, Dropbox Locations: Zuckerberg's

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