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Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips. Nvidia’s stock market value briefly touched $3.53 trillion, slightly above Apple’s $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple’s shares rose 0.4%, valuing the iPhone maker at $3.52 trillion. In June, Nvidia briefly became the world’s most valuable company before it was overtaken by Microsoft and Apple. Shares of Nvidia, Apple and Microsoft have an outsized influence on the richly valued technology sector as well as the broader U.S. stock market, with the trio accounting for about a fifth of the S&P 500 index’s weight.
Persons: OpenAI, , Russ Mould, AJ Bell, ” Nvidia’s, TSMC, Rick Meckler, Organizations: Nvidia, Apple, Microsoft, Western Digital, , chipmaker, Huawei, Federal Reserve, Cherry Lane Investments Locations: United States, China, New Vernon , New Jersey
How I turned ChatGPT into my tour guide in Italy
  + stars: | 2024-10-26 | by ( Salvador Rodriguez | ) www.cnbc.com   time to read: +3 min
Traveling through Italy, I used ChatGPT as a tour guide for the moments where my mom and I wandered into interesting little corners, alleys and buildings where our curiosity was piqued with no tour guide around. As I stood with my mom under the blistering sun in Rome waiting for our audio tour of the Pantheon to begin, I decided to kill some time with ChatGPT. "Pretend you're a tour guide and tell that to me in a more interesting fashion," I wrote. But my favorite ChatGPT use case so far has been as a tour guide in Italy. Elsewhere on our trip, ChatGPT told us that the central figure of the Trevi Fountain was Neptune riding a chariot pulled by sea horses, and explained why Rome's Stadio Olimpico still maintained a monument for Benito Mussolini.
Persons: ChatGPT, OpenAI's ChatGPT, I've, it's, Trevi, Benito Mussolini, Maximilian I, Napoleon III Organizations: Stadio Olimpico Locations: Italy, Rome, Austrian, Lombardy, Venetia, Milan, Mexico
In what some analysts are calling the “show me the money” quarter, most of the major US tech titans will report earnings during Halloween week. “Tech companies have been spending billions on AI like kids in a candy store,” said David Laut, chief investment officer at Abound Financial. “Now investors want to see what they’re getting for their money.”Earnings season for tech got off to a strong start Wednesday evening when Tesla surprised Wall Street with better-than-expected earnings. The results sent Tesla’s shares surging more than 11% in after-hours trading, potentially setting a positive tone for next week’s parade of tech earnings. But there’s more spooking Wall Street than just tech earnings.
Persons: , David Laut, Tesla, Tesla’s, Jim Reid, Dan Ives Organizations: New, New York CNN, Google, Microsoft, Meta, Apple, Nvidia, “ Tech, , ChatGPT, Reserve, Deutsche, Wedbush Securities Locations: New York, Canada, France
The post-training team is currently led by Liam Fedus, a researcher who helped develop ChatGPT. Fedus is the third person to lead the in the past six months. Among them is the post-training team, which is responsible for preparing AI models for wide release and has had three leaders in the past six months. Currently leading post-training is Liam Fedus , a machine learning researcher who was part of a group of researchers that developed ChatGPT. Fedus was also one of seven OpenAI researchers who developed a group of advanced reasoning models known as Strawberry .
Persons: Liam Fedus, Fedus, , Barret Zoph, Mira Murati, Bob McGrew ., Miles Brundage, It's, Sam Altman, Zoph, John Schulman, Anthropic, OpenAI Organizations: Service, MIT Technology, MIT, Fidelity, UC San Diego, collider, University of Montreal, Google, OpenAI Locations: OpenAI, Switzerland
Microsoft CEO Satya Nadella's pay rose 63% to $79.1 million for the year to June 30. Microsoft stock has soared as investors bet it'll be a big winner from the AI boom. The software giant's boss received a $2.5 million salary, $71.2 million of stock awards, a $5.2 million cash incentive, and $170,000 in other compensation, per a proxy filing on Thursday. Nadella had been in line for a $10.7 million cash incentive, but asked the board for less following several high-profile cybersecurity breaches in the period. Apple CEO Tim Cook was paid $63.2 million for the company's last financial year, while Nvidia CEO Jensen Huang pocketed $34.2 million.
Persons: Satya Nadella's, it'll, , Nadella, OpenAI, Tim Cook, Jensen Huang Organizations: Microsoft, Service, Revenue, Big Tech, Apple, Nvidia
LinkedIn has verified more than 55 million of its users, for free, in order to combat the spread of misinformation fueled by the rise of artificial intelligence, the company told CNBC. The Microsoft -owned service said it has the most verified individual human identities of any major social network. LinkedIn began verifying users in April 2023. Social networks are stepping up their efforts to weed out inauthentic activity, including scams and misinformation, across their services. While peers are charging users for verification, LinkedIn is verifying people for free, and using a two-pronged strategy, with a goal of having 100 million users verified by 2025, the company said.
Persons: Oscar Rodriguez, ChatGPT Organizations: CNBC, Microsoft, LinkedIn, Meta, Facebook
Here's how the process could work and what Wall Street bankers stand to gain. AdvertisementAs third-quarter earnings demonstrated, Wall Street dealmaking appears to be bouncing back after three years of lackluster activity. Spokespersons for both Goldman Sachs and Morgan Stanley declined to comment or confirm their reported participation in the project. The two investment bankers – neither of whom are affiliated with Goldman, Morgan Stanley, OpenAI, or Microsoft — requested anonymity to preserve industry relationships. Largely speaking, however, Wall Street is poised to win, Roberts said.
Persons: Goldman Sachs, Morgan Stanley, , OpenAI, , Morgan Stanley's, PwC, Michael Roberts, Morgan, Roberts, Wharton, dealmaker, Sam Altman, Altman, Elon Musk, Reed Alexander Organizations: Service, Wall Street Journal, Microsoft, The, BI, Wharton School, University of Pennsylvania, Goldman, Wall Street, Wharton, dealmakers, Apple, Tesla Locations: San Francisco, Silicon Valley
One of my close friends really loves ChatGPT and uses it all the time. Typically she's asking the AI chatbot questions like "Should I buy this skirt or this dress, and which one am I likely to wear more often?" It turns out that they're not the only ones turning to ChatGPT for some tough love. More and more users seem to be asking for advice that will hurt their feelings enough to motivate them. "But some people are more familiar with the tough love approach.
Persons: she's, ChatGPT, they're, Molly Burrets, It's, Burrets, what's
Chinese smartphone company Oppo ranks second in mainland China, and fourth worldwide, according to Canalys. Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone company Oppo is doubling down on artificial intelligence as it holds weekly talks about AI with senior management at Google and Microsoft in the run-up to the launch of its flagship phone overseas. The rise of generative AI — tech that can produce human-like responses when prompted — has companies from Apple to Honeywell rushing to tap its capabilities. AI smartphones set for growthOppo in June announced it plans to integrate generative AI in 50 million of its devices this year. Apple next week is due to publicly release its first software update with AI tools.
Persons: , Billy Zhang, Zhang, Xiaomi, Oppo Organizations: Nurphoto, Getty, Google, Microsoft, Apple, Honeywell, CNBC, Samsung, Tech Locations: China, BEIJING, Shenzhen, Europe, Southeast Asia, U.S
As Luccioni shows me a digital map that tabulates real-time data on electricity consumption and carbon intensity, she explains it's her "favorite website." Her enthusiasm carries over into her role as AI & Climate Lead at Hugging Face, where Luccioni collects actionable data on AI's environmental impact. Luccioni codeveloped and regularly contributes to CodeCarbon, a program that helps developers estimate emissions and energy use from running AI models. "Where the energy is coming from is really the biggest impact on emissions," Luccioni said. "You have to define specific data sets and specific hardware to compare these models."
Persons: it's, Luccioni, ChatGPT Organizations: Nvidia, Google, Meta, Organisation for Economic Co, Energy, EPA
Apple on Wednesday released a beta version of a slew of Apple Intelligence features, including its long-awaited ChatGPT integration. The preview included with iOS 18.2 contains:New abilities to describe how the user wants Apple Intelligence to rewrite a chunk of text. At the company’s developer conference, Apple showed how the ChatGPT integration will work. Apple execs have also suggested that other AI models, such as those from Google, may also integrate with Apple Intelligence in the future. Some Apple Intelligence features are already in testing by the public, and will be released next week as part of iOS 18.1.
Persons: Apple, Siri, OpenAI’s chatbot, ChatGPT, Sam Altman, OpenAI, Apple execs Organizations: Apple, Apple Intelligence, ChatGPT, Visual Intelligence, Microsoft, Google, iOS
Morgan Stanley is expanding the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division, CNBC has learned. It’s most in-demand among salespeople and other client-facing staff who often field questions from hedge funds or other institutional investors, said Huberty. Productivity boostIn a recent demonstration, the GPT-4 based chatbot was able to summarize Morgan Stanley’s position on matters from copper to Nvidia to the finer points of standing up a data center, understanding industry-specific jargon and providing charts and links to source material. The tool is embedded within workers’ browsers as well as Microsoft Teams and Outlook programs to make it readily available. Understandably, Huberty says she is often asked if AI could ultimately replace the analysts who are creating the reams of research published under Morgan Stanley’s banner.
Persons: Morgan Stanley, Katy Huberty, Morgan, ” Huberty, Wall, Pierre Buhler, ” Buhler, ” It’s, Goldman Sachs, Huberty, that’s, , chatbot, Morgan Stanley’s, Organizations: CNBC, JPMorgan Chase, SSA, Co, JPMorgan, Employees, Productivity, Nvidia, Microsoft Locations: San Francisco
London CNN —ChatGPT can be duped into providing detailed advice on how to commit crimes ranging from money laundering to the export of weapons to sanctioned countries, a tech startup found, raising questions over the chatbot’s safeguards against its use to aid illegal activity. Norwegian firm Strise ran experiments asking ChatGPT for tips on committing specific crimes. And in another experiment, run earlier this month, ChatGPT produced lists of methods to help businesses evade sanctions, such as those against Russia, including bans on certain cross-border payments and the sale of arms. Strise sells software that helps banks and other companies combat money laundering, identify sanctioned individuals and tackle other risks. “It’s like having a corrupt financial adviser on your desktop,” Rødevand said on the company’s podcast last month, describing the money laundering experiment.
Persons: London CNN —, Strise, ChatGPT, Handelsbanken, Marit Rødevand, Strise’s, , OpenAI, , Rødevand, “ We’re, Europol, Olesya Dmitracova Organizations: London CNN, Strise, CNN, Russia Locations: Russia, Nordic, Norway
Tony Kim, head of the fundamental equities technology group at BlackRock , is helming a new AI-focused fund launching on Tuesday. The top holdings in the ETF at launch are some of biggest names in the AI trade, including Nvidia and Microsoft . The AI Trade The excitement around the AI trade may have recently lost some of its luster for short-term traders. The valuations of some of the trendy AI stocks have also been a worry for some investors since AI took off with the introduction of ChatGPT in late 2022 . BlackRock is launching a similar fund in an ETF wrapper on Tuesday, the iShares Technology Opportunities Active ETF (TEK), with Kim as one of the managers.
Persons: Tony Kim, Kim, What's, , TEK Organizations: BlackRock, Innovation, Tech, ETF, Nvidia, Microsoft, Astera Labs, Hitachi, Nasdaq, Apple, BlackRock Technology, Fund, BAI Locations: BlackRock
She says that sometimes using AI to complete an application isn't a big deal. Since joining Applied in 2018, I've reviewed thousands of applicants' skill-based test answers, and I've noticed multiple subtleties that indicate AI was used. Beyond that, using AI can also strip an application of personality and diminish an applicant's ability to set themself apart among potentially thousands of other applicants. They may not mind the use of AI, or they might discard an applicant entirely if there is even suspicion that AI was used. AI isn't going anywhere, so use it to your advantageI believe that AI will continue to be used in applications.
Persons: Khyati Sundaram, Sundaram, , It's, I've, we've, We've, résumés, who've, Tess Martinelli Organizations: Service Locations: London, tmartinelli
First, he'd learn how to write prompts for artificial intelligence language models like OpenAI's ChatGPT or Google's Gemini. "Then, I would go to businesses, particularly small- to medium-sized businesses that don't understand AI yet," says Cuban. AI prompt engineering — or, the ability to phrase inquiries to chatbots to get desired responses — can be a particularly lucrative opportunity. The average pay for AI tutors starts at about $30,000 per year, and full-time AI prompt engineers can make up to $129,500, according to job board platform ZipRecruiter. Sign up for CNBC's online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.
Persons: Mark Cuban, he'd, I'd, Zers, bartended, Cuban Organizations: CNBC, Vanderbilt University, Indiana University, CompuServe, Yahoo, Cuban, Forbes Locations: U.S, Pittsburgh
Anthropic, the Amazon-backed AI startup founded by former OpenAI research executives, announced Tuesday that it's reached an artificial intelligence milestone for the company: AI agents that can use a computer to complete complex tasks like a human would. Anthropic is the company behind Claude — one of the chatbots that, like OpenAI's ChatGPT and Google's Gemini, has exploded in popularity. Amazon had early access to the tool, Anthropic told CNBC, and early customers and beta testers included Asana, Canva and Notion. The company has been working on the tool since early this year, according to Kaplan. Anthropic said that future consumer applications include booking flights, scheduling appointments, filling out forms, conducting online research and filing expense reports.
Persons: it's, Claude —, Jared Kaplan, Anthropic, Kaplan, Claude Organizations: Microsoft, Meta, CNBC
The parent company of TikTok says it has dismissed an intern that it found to have "maliciously interfered" with its artificial intelligence technology effort. In a statement in Chinese released Monday, the parent company, ByteDance, said the intern in question had committed a "serious violation" against its commercial technology team's "research project." In particular, the intern's actions affected ByteDance's AI training program, the company said. In the AI world, companies attempt to program an AI application by "training" it on vast amounts of data to recognize patterns, understand context, and make decisions — in other words, "learn." It is not clear what aspect of the AI model the intern is accused of interfering with.
Persons: ByteDance, Donald Trump, Kamala Harris, Trump, Harris Organizations: NBC News, Facebook Locations: TikTok, China
New York CNN —Rupert Murdoch’s Dow Jones, the parent company of the Wall Street Journal, and the New York Post sued Perplexity on Monday, accusing the generative AI company of illegally scraping its reporting and diverting traffic to its own platforms. The News Corp-owned companies accused Perplexity of training its so-called answer machine with copyrighted material, using scraped human-created news content to generate responses to users’ questions, allowing them to circumvent the publishers’ websites. “Perplexity proudly states that users can ‘skip the links’ — apparently, Perplexity wants to skip the check.”A Perplexity spokesperson did not immediately respond to a CNN request for comment. Earlier this year, News Corp inked a massive deal with ChatGPT creator OpenAI, licensing its news content in an agreement reported to be worth more than $250 million. The Times also sued OpenAI last year for copyright infringement, accusing the company of using its reporting to train its chatbots without permission, claiming billions of dollars in damages.
Persons: Rupert Murdoch’s Dow Jones, Perplexity, Robert Thomson, ” Thomson, “ Perplexity, , OpenAI, Thomson, Sam Altman, , Organizations: New, New York CNN, Wall Street Journal, New York Post, News Corp, CNN, Corp, Artificial Intelligence, New York Times, Times Locations: New York
My freelance translation work is flexible and fits around my job as a university teacher. AdvertisementMarco Simões started using AI for translation in 2020. I decided to try out translation work on the side after someone at Intel suggested I work as a translator there. Using AI has meant my productivity has increased, and I can accept more jobs than I did in the past, but pay doesn't necessarily increase. Using AI tools, such as Bard and ChatGPT, I can translate around 1,000 to 1,200 words an hour.
Persons: Marco Simões, Simoes, , São Paulo, Wintranslation, I've, Bard, ChatGPT, I'm, It's Organizations: BI, Service, Novell, Intel, São Paulo, Google Locations: Sao Paulo, Brazil, São, America
The Perplexity AI logo is seen in this photo taken Jan. 4, 2024. Perplexity AI, an artificial intelligence search engine startup hoping to chip away at Google's dominance, is seeking to more than double its valuation to about $9 billion in its next funding round, CNBC has confirmed. The Wall Street Journal was first to report on the new funding round. Perplexity started the year with a roughly $500 million valuation. Since then, the company has continued to attract investor interest alongside the bigger boom in generative AI, raising three funding rounds this year.
Persons: Perplexity, OpenAI, ChatGPT Organizations: CNBC, New York Times
AdvertisementWhen Morgan earned her bachelor's degree in 2018, she graduated with over $20,000 in student loan debt that she hoped to pay off by 2032. Morgan now expects to fully pay off her remaining $16,000 student debt balance by 2028 — four years earlier than planned. Morgan estimates that receiving student debt relief will allow her to pay off her loans four years ahead of schedule. MorganGlobalFoundries is betting that student debt relief will help it attract prospective employees and retain current workers. The company's student debt relief program is just another way it's trying to attract workers.
Persons: Chipmaker GlobalFoundries, , Morgan, she's, they've, GlobalFoundries, it's, Morgan GlobalFoundries, Joe Biden, Raman, Biden, we've, Stephanie, It's Organizations: Service, Business, Semiconductor Industry Association, Oxford Economics, Nvidia, Bright, GlobalFoundries Locations: York, Malta, New York, Austin
Google DeepMind CEO Demis Hassabis says "AI agents" are the next phase of AI after chatbots. According to Demis Hassabis, the CEO of Google DeepMind and a recently minted Nobel laureate, there isn't any secret formula to get there. Hassabis pointed to AlphaGo, DeepMind's AI that first defeated humans in Go, demonstrating reasoning skills in the game's defined domain. Hassabis pointed to AlphaGo, DeepMind's AI that first defeated humans in Go, demonstrating reasoning skills in the game's defined domain. They can use hardware like robots in the physical world, software like a calculator, or even other AI systems.
Persons: Demis Hassabis, , Hassabis, they've Organizations: Google, Service, The Times Tech
Mark Zuckerberg and Jensen Huang have collectively gained $150 billion this year. AdvertisementMark Zuckerberg and Jensen Huang have collectively grown over $150 billion richer this year, a figure that exceeds Warren Buffett's net worth. Huang, the CEO and cofounder of Nvidia, has gained $75.6 billion in net worth this year, second only to Zuckerberg. AdvertisementThe two tech titans have gained a combined $152 billion this year, which alone would make them the 7th richest person on earth. Zuckerberg and Huang's joint wealth has jumped to $324 billion —more than Coca-Cola ($301 billion) or Netflix ($295 billion) were worth at the end of Thursday trading.
Persons: Mark Zuckerberg, Jensen Huang, , Warren, Zuckerberg, Elon Musk, Jeff Bezos, Huang, rade, Nvidia's microchips Organizations: Nvidia, Netflix, Service, Meta, Bloomberg, Amazon, Investors
Wall Street is trying to make AI search sexy
  + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com   time to read: +8 min
Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.
Persons: Goldman Sachs, Blackstone, , Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI
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