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The narrative from Silicon Valley is that the AI train has left the station and any smart investor had better hop on before these products become “superintelligent” and start solving all the world’s problems. Now, some of the leading language models appear to be hitting a wall, according to at least three reports last week. But if we have indeed hit a scaling wall, “it may mean that the the mega-cap technology companies have over-invested” and it’s possible that they could scale back in the near future. That’s the AI optimist/pragmatist view. For a less rosy outlook, I turned to Gary Marcus, NYU professor emeritus and outspoken critic of AI hype.
Persons: CNN Business ’, New York CNN — It’s, OpenAI, , that’s, , Orion “, Ilya Sutskever, ” Sutskever, Marc Andreessen, Sam Altman, ” Gil Luria, Davidson, it’s, ” Luria, Gary Marcus, ” Marcus, “ LLMs Organizations: CNN Business, New York CNN, Nvidia, Tech, ” Bloomberg, ” Reuters Locations: New York, GPT
The return of DCM activity signals that borrowers are gearing up for corporate dealmaking to return. Goldman's global head of financing broke down the trends in an interview with BI. On Wall Street, corporate borrowing is on a roll. Many of those clients are large companies or organizations being advised by Goldman's investment bankers, which means the DCM business is directly reliant on deal flow. AdvertisementGoldman CEO David Solomon ran Goldman's leveraged finance group before taking over its financing business, including debt and equity capital markets and derivatives.
Persons: Goldman Sachs, Donald Trump, Vivek Bantwal, Bantwal, We've, we've, Goldman, David Solomon, David Solomon Jeenah Moon, Denis Coleman, refinancings, weren't Organizations: University of Pennsylvania's Wharton School, Getty, Underwriters, Wall, Bloomberg, Getty Images Goldman, Goldman, Blue
AdvertisementSnap's new Spectacles offer AR features like piano lessons and video calls. While the Vision Pro is a heavier corded headset, Meta's smart glasses are more like sunglasses with a camera and an AI assistant. AdvertisementSome features were clunky but impressiveOne of the Spectacles Lenses offered virtual piano lessons. AdvertisementGoogle tried and failed to break open the smart glasses market in the past, but that hasn't stopped CEO Mark Zuckerberg from showing off another pair of smart specs, Orion, at Meta Connect in September. AdvertisementI was impressed by the Spectacles demo, but I'm still waiting for a feature that makes them feel like a must-have.
Persons: Meta's Ray, Jordan Hart, They're, Evan Spiegel, I've, It's, hasn't, Mark Zuckerberg, haven't, Peter Kafka, Orion, they're, I'm Organizations: Apple's Vision, Apple Vision, Google, Meta Connect
Roofing is also one of the fastest-growing jobs in the U.S., with nearly 15,000 jobs expected to be added each year over the next decade. She launched her own roofing business, B. Barela Construction, in February 2021. Her combined income from running B. Barela Construction and working in real estate is more than $70,000 (she declined to share her exact salary). Ahead of her fourth year in business, Tena says she hopes to scale the business into a full-time career. She attended Santa Fe Community College on and off between 1995 and 2002, waffling between entering business, law or real estate, but never finishing her bachelor's degree.
Persons: Bridgette Tena, Tena, they've, Tena's, Lino Barela, We're, Organizations: CNBC, U.S . Department of Labor, Santa Fe Community College, Realtors Locations: Santa Fe , New Mexico, U.S, Santa Fe, New Mexico, Denver , Colorado, Santa
CNN —A René Magritte painting depicting an eerily lit streetscape sold for more than $121 million at a Christie’s auction in New York on Tuesday –– surpassing its $95 million estimate and smashing the auction record for the Surrealist artist’s work. The auction also featured paintings by other modern giants like Ed Ruscha and Max Ernst. The painting sold for a record sum at a Christie's auction in New York. Two other Magritte works were included in the sale: The paintings “La cour d’amour” and “La Mémoire,” which sold for $10.53 million and $3.68 million, respectively. He produced a total of 17 oil paintings and 10 gouaches (water-based paintings) that all share the name “L’empire des lumières” –– and each with small alternations between versions.
Persons: Magritte, Mica Ertegun’s, Ed Ruscha, Max Ernst, , Max Carter, ” Carter, David Hockney, , Claude Monet, Vincent van Gogh, Peggy Guggenheim, Sandra Zalman, Zalman, ” “, ” Zalman Organizations: CNN, Century, Art Basel, Venice Biennale, University of Houston Locations: New York, British, Hong Kong, Belgian
Empty lot Grand Ave. Dean St. Project site Pacific St. The Upper West Side project was recommended for approval while the Crown Heights project wasn’t. The Upper West Side project was recommended for approval while the Crown Heights project wasn’t. The Upper West Side project was recommended for approval while the Crown Heights project wasn’t. City Council vote Here’s where things ended for the Crown Heights project, which was rejected by the council member from the area.
Persons: Nadine Oelsner, Dean St, Aviles, Booker T, Booker, Oelsner, It’s, Crystal Hudson, Oelsner’s, Hudson, Mark Levine Organizations: New York, West, Street Manhattan Queens, Street Brooklyn Staten, Street Brooklyn, . Census, Crown, Census, 108th, Google, West Side Federation for Senior, 109th St, St, Washington, Washington Middle School, Washington Middle, Side Federation for Senior, Budget Commission, Manufacturing, Fulton St, Vanderbilt, ., Plaza Manufacturing, Army Plaza Lafayette, Army Plaza Lafayette Ave . Manufacturing, , New York City Department of City Planning, Riverside Park, Broadway, St ., St . West 108th St, , New York City Department of, HSN, Pontiac, West Side, West Side Federation, City Planning Department Locations: New, United States, Crown Heights, Brooklyn, Manhattan, Westchester County, Long, New York City, Street Brooklyn Staten, Prospect, Crown, U.S, Park, Riverside, Phoenix, Atlanta, City, St, Fulton, Ave, Vanderbilt Ave, Franklin, Army Plaza Lafayette Ave, , New, St . West, Amsterdam, Heights
But many Syracuse residents feel that a potential threat to their health is being ignored. “This is morally outrageous.”City officials say that more than 14,000 homes receive water from lead pipes, which comprises about a quarter of residences citywide. In Syracuse, officials say there is no lead in the lake that provides drinking water to residents. That’s faster than EPA guidelines that call for lead pipes to be replaced within a decade. Activists hope Syracuse officials will learn lessons from the Flint water crisis, during which almost 30,000 children drank and bathed in lead-laced water before the EPA stepped in.
Persons: retesting, Maureen Murphy, Mike Groll, , Erik Olson, NRDC, Greg Loh, Loh, “ We’ve, ” Loh, Robert Brandt, ” Brandt, Oceanna, Fair, Ella, it’s, Dr, Nicole Brescia, Ella’s, Kyla Guilfoil, Erin McLaughlin, Emily Berk, Elizabeth Chuck Organizations: Syracuse City Hall, Environmental Protection Agency, Centers for Disease Control, CDC, EPA, Natural Resources Defense Council, Syracuse, NBC News, New York State Department of Health, Water, Oceanna, Health Department Locations: SYRACUSE, New York, Flint , Michigan, Syracuse, N.Y, Flint, Michigan, week’s, , Onondaga County
Monday’s moves come as investors ready for public health changes under a second Trump administration. But the mineral has found itself at the center of a nationwide fight that’s led some local communities to end programs centered on its insertion into public water. Gordon Haskett’s Bilson also pointed out that dental stocks were some of the few “spared” health-focused equities as investors responded to the announcement of Kennedy’s nomination last week. And advertising.”While the market appears to be moving on Kennedy’s nomination, Bilson said that regulatory changes would likely take years to come into effect. He also noted that drinking water should fall more under the Environmental Protection Agency than Health and Human Services.
Persons: Henry Schein, Robert F, Kennedy Jr, Donald Trump’s, Envista, Trump, Kennedy, that’s, Gordon Haskett, ” Don Bilson, Gordon Haskett’s, , Gordon Haskett’s Bilson, ” Bilson, “ Drugmakers, Bilson Organizations: Health, Human Services, Trump, RFK, HHS, Pharmaceutical, Environmental Protection Agency Locations: U.S
Almost 80 million people will hit the roads and airways this Thanksgiving, with traveler numbers surpassing pre-pandemic levels, the AAA predicts. Journeys of 50 miles or more will be made by 79.9 million people in the holiday period — an increase of 1.7 million from last year and 2 million more than in 2019. "Thanksgiving is the busiest holiday for travel, and this year we’re expecting to set new records across the board, from driving to flying and cruising," Stacey Barber, vice president of AAA Travel said in a statement. The majority of trips, 71.7 million, will be by car, meaning 1.3 million more travelers will be on the road compared to last year. A record 5.84 million plan to fly, a 9% increase from 2019, with international flight bookings up 23%, the AAA said.
Persons: Stacey Barber, Bob Pishue, Hertz Organizations: AAA, AAA Travel, Phoenix Locations: Boston , New York, LA, Seattle, Washington, DC, Atlanta, Las Vegas , Los Angeles, Miami, Oahu, Orlando, Florida
PARIS (AP) — French farmers are mobilizing for widespread protests on Monday targeting the EU-Mercosur trade agreement. Backed by their government, they argue the deal threatens their livelihoods by allowing a surge of South American agricultural imports produced under less stringent environmental standards. A partial EU-Mercosur deal, with many of the parts that French farmers find unsavory, could be agreed over their heads since France does not hold veto power. Other nations like Germany and Spain would like to see a far-reaching deal with their South American counterparts. French Agriculture Minister Annie Genevard has publicly opposed the EU-Mercosur trade agreement, citing risks of deforestation and health concerns linked to hormone-treated meat.
Persons: Villacoublay, , Jean, Noël, Luis Planas Puchades, Annie Genevard, Emmanuel Macron Organizations: PARIS, EU, Mercosur, European Union, French, South American, Spanish Farm, North, TF1, South, Farmers, Associated Press Locations: Paris, Velizy, Brazil, Argentina, Paraguay, Uruguay, Bolivia, France, EU, Germany, Spain, Mercosur, European, Auch, Agen, Europe, South America, South American
CNBC's Jim Cramer on Monday considered the stock of Nvidia in light of a report that the company is having overheating issues with servers for its newest graphics chips that enable advanced artificial intelligence functions. But Cramer wasn't overly concerned, saying he views the stock decline as an investing opportunity. Nvidia stock was down 1.29% by Monday's close, and investors are waiting to see what the $3.4 trillion-dollar company will say in its earnings report on Wednesday. Cramer reiterated his faith in the company and the stock. Cramer also pointed out that Dell CEO Michael Dell, whose company is a major Nvidia customer, posted Monday that Nvidia's servers had started shipping.
Persons: CNBC's Jim Cramer, Cramer, Jensen Huang, Monday's, Michael Dell, he's Organizations: Monday, Nvidia, CNBC, Dell
Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City. Stock futures are little changed Monday night as investors await key earnings from retailers and chipmaker Nvidia this week. S&P futures shed about 0.05%, while Nasdaq 100 futures traded marginally lower. About 93% of S&P 500 companies have reported quarterly results so far, with three-quarters exceeding expectations and more than 60% beating revenue estimates, according to FactSet. The tech-heavy Nasdaq Composite gained 0.6%, snapping a four-day losing streak, while the S&P 500 added about 0.4%.
Persons: Stocks, Andrew Slimmon, Morgan Stanley Organizations: New York Stock Exchange, Stock, Nvidia, Dow Jones Industrial, Nasdaq, Trump Media & Technology Group, Walmart, Blackwell, Dow Jones, Morgan Stanley Investment Locations: New York City
But price rises in Russia are eye-watering by comparison – and just one symptom of an economy that is overheating. “Prices are rising because of the war,” Alexandra Prokopenko at the Carnegie Russia Eurasia Center in Berlin told CNN. The military budget will rise by nearly a quarter in 2025, amounting to one-third of all state spending and 6.3 per cent of gross domestic product. Analysts don’t see the Russian economy as tumbling over a precipice but instead as a slowly gathering crisis. Russia has traditionally turned to central Asia for unskilled labor, and Putin recently suggested more foreign workers are needed.
Persons: ” Alexandra Prokopenko, Vladimir Putin, Putin, , Anton Vaganov, ” Prokopenko, Natalia Kolesnikova, Vladislav Inozemtsev, Prokopenko Organizations: CNN, Carnegie Russia Eurasia Center, , Reuters, Russia’s Alfa Bank, Alfa, Monetary Fund, Russia’s State Statistics Service, Getty, Central, United Nations, UK Defense Ministry, Atlantic Council Locations: Russia, Ukraine, Berlin, Saint Petersburg, United States, Asia, Turkey, Russian, India, China, AFP, Moscow, Central Asia, East, South Korea, Dubai
That's due to a recent contraction in the money supply, which preceded past downturns, he told NYSE TV Live. The US economy is still likely to slow into a recession next year — and Trump's election victory may have just made the economic outlook even more challenging, according to top economist Steve Hanke. AdvertisementM2, one class of the money supply, shrank from mid-2022 to March 2024, according to Federal Reserve data. The M2 money supply started to re-expand this year, rising 2.47% year-per-year at the end of September. Trump's protectionist economic policies also impose a "big negative" for the economy, Hanke said.
Persons: Steve Hanke, downturns, Johns Hopkins, who's, That's, Hanke, Trump Organizations: NYSE TV, NYSE, Federal Reserve, Real Locations: Atlanta
The grandaddy of gold ETFs turns 20. Today, for the first time, thanks to the World Gold Council and State Street, you are able to buy gold just like it's a stock." They could own gold mining stocks, but there was an imperfect relationship between gold and gold miners. When the gold ETF was intrduced 20 years ago, there was a very small investor base for gold. In 2014, Van Eck launched the VanEck Merk Gold ETF (OUNZ), which provides the option to redeem shares for physical gold , including gold coins and bars.
Persons: I've, George Milling, Stanley, GLD, Van Eck, George Milling Stanley, We've Organizations: New York Stock Exchange, World Gold Council, State, Investors, U.S . Equity, State Street Global Advisors, United States Oil Fund, Street Global Advisors, Street Global, World Gold, U.S ., Trump, Trust, Street, MiniShares, NYSE, SEC, Edge Locations: United States, London, India, China, Turkey
CNN —United States envoy Amos Hochstein is due to visit Beirut “imminently” after Lebanon responded “positively” to a US-backed proposal to stop the Israel-Hezbollah war, Lebanese Prime Minister Najib Mikati said on Monday. US ambassador to Lebanon Lisa Johnson relayed the proposal to the Lebanese government via Nabih Berri, the parliament speaker, on Thursday night, a Lebanese official told CNN earlier. According to the official, Hezbollah reviewed the proposal and submitted their response to Lebanese authorities on Sunday evening. The Israeli source added that Hochstein has not yet confirmed when he will arrive in the region. Another Lebanese source familiar with the ceasefire talks told CNN earlier that President-elect Trump has endorsed Hochstein’s ceasefire negotiations track, increasing the chances of its success.
Persons: Amos Hochstein, imminently, , Najib Mikati, Al Araby, Mikati, Lebanon Lisa Johnson, Ed Ram, Netanyahu, Hochstein, Bezalel Smotrich, , Nabih Berri, Mohamed Azakir, Reuters Berri, Amal, Hassan Nasrallah, Donald Trump’s, Trump, Israel Organizations: CNN, United, Lebanese, UN, Getty, Reuters, Saudi, Al, Hezbollah, US Locations: Beirut, imminently ”, Lebanon, Israel, Lebanese, Nabih Berri, Lebanon’s, Israeli, Gaza, Al Awsat
Oil prices edge higher after Russia-Ukraine tensions escalate
  + stars: | 2024-11-18 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine's power system. Investors also fretted over the pace and extent of interest rate cuts by the U.S. Federal Reserve that has created uncertainty in global financial markets. In the U.S., the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.
Persons: Joe Biden's, Biden, Tony Sycamore, Brent, WTI, Baker Hughes Organizations: Brent, U.S, West Texas, IG, International Energy Agency, U.S . Federal Reserve Locations: Cushing , Oklahoma, Russia, Ukraine, China, Kursk, U.S
AdvertisementRolls-Royce is in talks with potential customers for its nuclear reactors, per the Financial Times. The company said the reactors could provide energy for data centers, mining, and space missions. Rolls-Royce is in early-stage talks with potential customers for its compact nuclear reactors, which are designed to power data centers on Earth and one day to be sent into space, the Financial Times reported. Big Tech companies — including Google, Amazon, and Microsoft — have expressed interest in nuclear power to meet AI's high energy demands. In July 2024, Rolls-Royce was awarded funding from the agency's National Space Innovation Programme, or NSIP, for space nuclear power.
Persons: Royce, Jake Thompson, Microsoft —, Thompson Organizations: Financial Times, Business, Big Tech, Google, Microsoft, Royce, UK Space Agency, Innovation
GUANGZHOU, CHINA - NOVEMBER 15, 2024 - Visitors view a Xiaomi SU7 Ultra new energy vehicle at 2024 Guangzhou Auto Show in Guangzhou, South China's Guangdong province, Nov 15, 2024. Revenue came in at 92.5 billion yuan ($12.77 billion) for the quarter ended Sept. 30, beating an LSEG consensus estimate from 15 analysts of 91.1 billion yuan. The unit reported an adjusted loss of 1.5 billion yuan for the quarter, with a gross profit margin of 17.1%. During the quarter, Xiaomi maintained its position as the world's third-largest smartphone maker with shipments of 42.8 million units, up 3% and capturing 14% of the market, according to research firm Canalys. Xiaomi reported adjusted net profit climbed 4.4% to 6.25 billion yuan, versus a consensus estimate of 5.92 billion yuan.
Persons: Xiaomi Corp, Xiaomi Organizations: Show, Publishing, Getty Images, Xiaomi, Porsche, China EV, Revenue, Huatai Securities Locations: GUANGZHOU, CHINA, Guangzhou, South China's Guangdong, China
Soon, Trump’s ability to fix America’s affordability crisis will collide head-on with another, perhaps more prominent, campaign trail promise: Mass deportations. And perhaps no industry relies on undocumented workers more than the food and agriculture industries. “The only question is how high prices will go.”Zandi noted that food prices could also be pushed higher by another element of the Trump agenda: Massive tariffs. The Trump transition team did not respond to a request for comment about how mass deportations would impact food prices. The current immigration system does not allow for green cards for farm workers.
Persons: Donald Trump, Trump, you’re, , Chuck Conner, don’t, Conner, Fred Leitz, Leitz, Mark Zandi, , ” Zandi, Trump’s, It’s, Rick Naerebout, that’s, Biden, Scott Bessent, ” Bessent, Axios, Trump “, David Paul Morris, Zeke Hernandez, “ It’s, Hernandez, Chloe East, Letiz, Naerebout, “ aren’t, ” Robert Lynch, Lynch, , ” Naerebout Organizations: New, New York CNN, CNN, National Council of Farmer Cooperatives, US Department of Agriculture, Center for American Progress, Moody’s, Trump, United, Idaho Dairymen’s Association, Wall, Bloomberg, Getty, Wharton School, University of Pennsylvania, Immigration, University of Colorado Denver, The Hamilton, Brookings Institution, Washington College, American Locations: New York, United States, Michigan, Idaho, San Francisco, Brookings, Maryland
Shares of Henry Schein shares jumped nearly 5%, on track for its best day since July. Monday's moves come as investors ready for public health changes under a second Trump administration. Stock Chart Icon Stock chart icon 1-day chartFluoride has long been shown as an effective method for fighting cavities. But the mineral has found itself at the center of a nationwide fight that's led some local communities to end programs centered on its insertion into public water. A general view of the Henry Schein Inc. building a distributor of health care products and services with a presence in 32 countries, as photographed in Melville, New York.
Persons: Robert F, Kennedy Jr, Donald Trump, Joel Angel Juarez, Henry Schein, Donald Trump's, Envista, Trump, Kennedy, that's, Gordon Haskett, Bruce Bennett Organizations: Republican, Reuters Dental, Health, Human Services, Trump, Henry Schein Inc, Getty Locations: Milwaukee , Wisconsin, U.S, Melville , New York
Learn moreIt's the ultimate Texas showdown in tonight's Monday Night Football match-up between the Houston Texans and Dallas Cowboys. We've compiled everything you need to know about where to watch the Texans vs. Cowboys, including global live streaming options. Where to watch Texans vs. Cowboys in the USThe Texans vs. Cowboys game will air across ABC, ESPN, and ESPN2 in the United States. Check price at DAZNHow to watch Texans vs. Cowboys anywhereAway from home and worried about missing out on the game? Check price at ExpressVPNHow to watch Texans vs. Cowboys with a VPNSign up for a VPN if you don't have one.
Persons: We've, It's, Fubo, ExpressVPN Organizations: Business, Houston Texans, Dallas Cowboys, Texans, . Cowboys, AFC, Cowboys, NFC, T, Texas, NFL, US, ABC, ESPN, ESPN2, DirecTV, Sling, ESPN3, DirecTV Stream Locations: Texas, Arlington , TX, United States, China
London CNN —British Airways is working to fix a “technical issue,” according to a spokesperson for the airline on Monday, as reports emerged on social media of flight delays and IT issues with the flag carrier. “Our flights are currently operating, but are experiencing delays as our teams work to resolve a technical issue affecting some of our systems,” a British Airways spokesperson said. Heathrow Airport, which is the airline’s main base in London, said it was working with British Airways to provide updates to passengers. “We are aware of a technical issue that British Airways are investigating. All other airlines are operating as normal at Heathrow, the Heathrow Airport spokesperson added.
Persons: Organizations: London CNN — British Airways, British Airways, Heathrow Airport, CNN, Heathrow, British Airways ’ Locations: London, United Kingdom, United States
The 30-year-old, Hillsborough, New Jersey, native started playing piano and saxophone in elementary school and continued playing in various school bands through high school. Nelson has since built a bustling career as a live performer, playing piano and saxophone at "an average of 80 events a year," he says, mostly weddings. By fall 2019, after reaching out to local New Jersey DJ companies to let them know he was interested in playing events, he was "doing about two, sometimes three" events per weekend, he says. Jason Nelson playing sax at a wedding. Jason Nelson playing sax at a wedding.
Persons: Jason Nelson, Nelson, Michael Romeo Organizations: Rutgers University, Barnes & Noble College, DJ, New Jersey DJ, Fox Photography Locations: Hillsborough , New Jersey, New Jersey
To get the best flight prices, consider flying mid-week or traveling to and from another airport. Then we switched to a VPN, using five of the most popular services, and repeated the searches while appearing to be in a different country. Original flight price, Chicago to Seattle: $361Surfshark VPN price: $361Original flight price, Nashville to New York: $99Surfshark VPN price: $99Learn more at the Surfshark website. Original flight price, Chicago to Seattle: $361Cyberghost VPN price: $361Original flight price, Nashville to New York: $99Cyberghost VPN price: $99Learn more at the Cyberghost website. VPNs: When they're usefulWhile a VPN can't reliably help you book cheaper flights, having one can protect your digital privacy and security, especially when you travel.
Persons: , NordVPN NordVPN, Surfshark, Cyberghost Cyberghost Organizations: Service, Northern, Google, PIA Locations: United States, Chicago, Seattle, Nashville, New York City, China, New York, Africa, U.S, JFK, LaGuardia, Newark
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