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☆ Bill Ackman predicts more pain for regional banks and commercial real estate, touts Elon Musk's X, and touches on AI and the federal debt in a new interview. Here are his 6 best quotes.
▼ + stars: | 2023-09-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Bill Ackman predicts more pain for regional banks and commercial real estate as interest rates bite. Ackman warns AI will be hugely disruptive, and predicts Elon Musk's X will ultimately succeed. "The commercial real estate picture has not gotten better. You're going to start seeing real defaults, particularly with office assets. The pressure on the regional banking system — you're going to start to see more of it come now on the commercial real estate side."

Persons: Bill Ackman, Elon Musk's, Ackman, Julia La Roche, Elon, We've, it's, Elon Musk Organizations: Pershing Square, Service, Twitter Locations: Wall, Silicon, Elon Musk's

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Disney, Walmart, Lowe's, Alphabet and more
▼ + stars: | 2023-09-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

TD Cowen upgrades Domino's to outperform from market perform TD said in its upgrade of the stock that it sees upside to same-store sales. Bernstein reiterates Apple as market perform Bernstein said similarities exist between IBM 10 years ago and Apple today. Morgan Stanley reiterates Walmart as overweight Morgan Stanley sees an attractive risk/reward for Walmart shares. RBC upgrades American Express to outperform from sector perform RBC said the credit card company is "best positioned" to outperform. Jefferies reiterates Alphabet as buy The firm is more bullish on Alphabet shares after the company's recent Google Cloud event.

Persons: TD Cowen, Woodward, Uber, Cantor Fitzgerald, Wells, Bernstein, Morgan Stanley, Goldman Sachs, Lamb Weston, Stryker, Baird, Wolfe, Stifel, Jefferies, GOOGL's, We've Organizations: DIS, Media, Apple, IBM, Walmart, Bank of America, of America, Citi, Technologies, UBS, RBC, Dine Brands, Susquehanna, Barclays, Oracle, Vail Resorts, MTN, Google, Nvidia Locations: U.S, North America

☆ Tenbagger stocks that have more upside ahead
▼ + stars: | 2023-09-02 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There is just a handful of stocks that have sizeable upside expectations ahead after seeing a more than 1,000% compound return over the last decade. We then looked for stocks where there is more upside potentially ahead. These names also have average analyst price targets implying an upside of at least 20%. The average upside suggests shares could gain around 34% over the next 12 months. Analysts see a reprieve from its current selloff on the horizon, with the average price target signaling an upside of more than 56%.

Persons: Wall, Goldman Sachs, Toshiya Hari, Hari, it's, — CNBC's Michael Bloom, John Melloy Organizations: CNBC Pro, Nvidia, Semiconductor, AMD, ON Semiconductor, Enphase Energy

☆ Buy the August dip in this travel stock with a deep moat and 30% upside, says Bernstein
▼ + stars: | 2023-08-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The recent pullback in Airbnb creates an attractive entry point for investors looking to buy a quality growth company, according to Bernstein. "Recent share price weakness presents a compelling entry point, with bear fears largely discredited following Q2," wrote analyst Richard Clarke in a Tuesday note to clients. "We see 30%+ potential upside, with an H2 acceleration as peers begin to slow, and ancillary revenue announcements in 2024 as key catalysts." Despite the recent stumble, Clarke remains bullish on the long-term outlook for the travel company he believes has one of the deepest moats, optionality and fastest core top- and bottom-line growth. ABNB 1M mountain Airbnb shares over the last month Although Airbnb looks expensive on a near-term basis, shares look "increasingly cheap" when accounting for the revenue increase from additional opportunities, Clarke wrote.

Persons: Bernstein, Richard Clarke, Clarke, — CNBC's Michael Bloom Organizations: Holdings

Today's "niche" companies and those seen as AI leaders are unlikely to be the biggest winners for long-term investors, said Barry Glassman, a certified financial planner and member of CNBC's Advisor Council. "I've been through this enough to see that the niche players early on may not, in fact, be the long-term plays," Glassman said. Dan Romanoff, senior equity analyst with Morningstar Research Services, echoed that sentiment, saying investors would be hard-pressed to find a good "pure play" AI company in which to invest today. I would ask the question: What company isn't an AI company nowadays? However, it's unclear if such companies will remain among the AI leaders as the technology develops, experts said.

Persons: Jaap Arriens, Barry Glassman, I've, " Glassman, OpenAI, chatbot, Glassman, DocuSign, Dan Romanoff, Romanoff Organizations: Getty, San, Wealth, AOL, Cisco, Morningstar Research Services, Microsoft, Nvidia Locations: San Francisco, Vienna , Virginia, North Bethesda , Maryland

☆ ‘The Moat That We Have to Protect’: The RealReal’s C.E.O. on Reviving the Brand
▼ + stars: | 2023-08-26 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

Now, it’s really, “You used to take this designer, you won’t anymore. Why won’t you?” In a perfect world, we’d say, “OK, we will take everything.” But there’s an economic reality, right? Certain brands of jeans we used to be able to sell for over $100. So instead of upsetting you by us taking them and selling them for way less than you want, we’re just telling you now we don’t take them. Before your time at the company, there was reporting about the RealReal selling inauthentic items on its platform.

Persons: we’re

☆ The last Nvidia bear on Wall Street throws in the towel and ditches 'sell' rating
▼ + stars: | 2023-08-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

There are no more "sell" ratings for Nvidia on Wall Street following its strong second-quarter earnings. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Morningstar Research analyst Brian Colello upgraded Nvidia to "hold" from its Wall Street-equivalent rating of "sell" in a note on Wednesday. Such growth might be unprecedented in large-cap tech, but we foresee all types of enterprises investing in AI," Colello said. According to data compiled by Bloomberg, Wall Street has 54 "buy" ratings and five "hold" ratings on Nvidia stock.

Persons: Morningstar, Brian Colello, Colello, Stifel's Ruben Roy, Roy Organizations: Nvidia, Wall, Service, Morningstar Research, Bloomberg Locations: TSMC, Wall, Silicon, Colello

☆ Nvidia reported another blowout quarter, and analysts don't see that momentum waning
▼ + stars: | 2023-08-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

And it's already a popular business: the company reported $10.32 billion in data center revenue, reflecting a 171% increase from the same quarter a year ago. Roy also raised his price target for shares to $600, which reflects a 27.3% jump from Wednesday's close. If met, that price target equates to a more than 310% gain from where the stock finished 2022. Bank of America's Vivek Arya hiked his price target to $650 from $550, and Atif Malik of Citi now expects the stock to go to $630. In addition to the data center business, Goldman's Hari pointed to improving supply as a reason to be optimistic that there's still upside ahead.

Persons: Refinitiv, Ruben Roy, Roy, Wells, Aaron Rakers, Goldman Sachs, Toshiya Hari, America's Vivek Arya, Atif Malik, Goldman's Hari, BofA's Arya, Hari, Ross Seymore, he'd, NVDA, Michael Bloom Organizations: Nvidia, Bank, America's, Citi, Deutsche Bank Locations: Wells Fargo

☆ How Nvidia Built a Competitive Moat Around A.I. Chips
▼ + stars: | 2023-08-21 | by ( Don Clark | ) www.nytimes.com time to read: +1 min

Over more than 10 years, Nvidia has built a nearly impregnable lead in producing chips that can perform complex A.I. trend early, tailoring its chips to those tasks and then developing key pieces of software that aid in A.I. That has turned Nvidia, for all intents and purposes, into a one-stop shop for A.I. chips, Nvidia today accounts for more than 70 percent of A.I. revolution became clear when it projected a 64 percent leap in quarterly revenue, far more than Wall Street had expected.

Persons: Jensen Huang, Nvidia’s Organizations: Nvidia, Google, Meta, IBM, Wall

☆ Here's the trade on Nvidia ahead of earnings, according to analysts
▼ + stars: | 2023-08-20 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

NVDA YTD mountain NVDA has surged in 2023 Ahead of earnings Wednesday, analysts are weighing in on the forthcoming report and how to trade the earnings. Oppenheimer's Rick Schafer maintained an outperform rating on Nvidia and raised his price target to $500 per share up from $420. Elsewhere, Citi analyst Atif Malik reiterated both a buy rating and a $520 per share price target in a note last week. However, Deutsche Bank analyst Ross Seymour is more cautious on Nvidia stock heading into earnings, and reiterated a hold rating in Tuesday note. Seymour maintains a $440 per share price target, which forecasts roughly 2% upside from the stocks current trading levels.

Persons: Hans Mosesmann, Mosesmann, Oppenheimer's Rick Schafer, " Schafer, Wolfe, Chris Caso, " Caso, Atif Malik, Wall, Malik, Ross Seymour, Seymour, — CNBC's Michael Bloom Organizations: Nvidia, Rosenblatt Securities, Wolfe Research, Citi, Deutsche Bank, LT

Xinhua/Shutterstock‘Absolutely safe’As heavy rains moved toward the region in late July, China’s top flood control officials met to hash out their response plan. The flood was caused by flood water discharge, not by heavy rainfall.”CNN has reached out to the Zhuozhou and Bazhou governments for comment. Rescuers use rubber boats to transfer Zhuozhou residents trapped by flood waters after days of downpours brought by Typhoon Doksuri on August 2. In the recent rains, at least three upstream reservoirs released flood waters into rivers flowing into Baiyingdian from the west and the south, according to state media. Many countries have systems that involve discharging pent up flood waters into otherwise dry land after major storms.

Persons: Xi Jinping, Xi’s, ”, It’s, Xiong’an, Jade Gao, Ni Yuefeng, downpours, Typhoon Doksuri, Zhai Jujia, Li Guoying, Hongzhang Xu, Xiao, Li Na, Zhu Xudong, it’s, Xiong’an –, Xu, Baiyangdian Lake, Kevin Frayer, “, Meili Feng, Simon Song, Deng Xiaoping, Jiang Zemin, Xu Kuangdi, Yi Haifei, Andrew Stokols Organizations: CNN, Xinhua, Getty, Censors, China News Service, China’s, Water, Australian National University, Authorities, China’s Ministry of Water Resources, Hebei Provincial Department of Water Resources, Geographical Sciences, University of Nottingham, Shanghai’s Pudong New, Chinese Academy of Sciences, Urban Computing Center Locations: Beijing, China, Hebei, Xiong’an’s, Xiong'an, Zhuozhou, AFP, Bazhou, Xiong’an, Tianjin, ”, Xinhua, Baiyingdian, Baiyangdian, Mississippi, University of Nottingham Ningbo, “, Hebei province, Shenzhen, Shanghai’s Pudong, Shanghai

☆ Morningstar: These 10 dividend stocks have increased their payouts every year for the past 5 years and look cheap right now
▼ + stars: | 2023-08-13 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Growth stocks have soared higher this year on the back of artificial intelligence hype. Most dividend stocks have been left in the dust, but that means they're cheap right now. But dividend stocks, their lower-growth, less exciting counterparts, have been left in the dust. But just because dividend stocks are lagging behind the market today doesn't mean they're bad investments. 10 cheap investments with growing dividendsLate last week, Morningstar put together a list of 10 stocks pulled from its US Dividend Growth Index, which "tracks US-based securities with a history of uninterrupted dividend growth."

Persons: Morningstar, Susan Dziubinski Organizations: Nvidia, Microsoft, Morningstar

☆ Investors are 'overconfident' about the impact of A.I., strategist says
▼ + stars: | 2023-08-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

"And we've had a dawning awareness of how things have sped up in terms of generative AI. Market participants are "overconfident" about their ability to predict the long-term effects of AI, according to Mike Coop, chief investment officer at Morningstar Investment Management. "Having said that, the prices have run so hard that it looks to us that really people are overconfident about their ability to forecast how AI will impact things." In what he dubbed a "dangerous point for investors," Coop stressed the importance of diversifying portfolios and remaining "valuation aware." "Be cognizant of just how high a price is being paid for the promise of what AI may or may not deliver for individual companies," Coop concluded.

Persons: we've, Coop, CNBC's, Mike Coop, Morningstar Organizations: Nvidia, Facebook, Tesla, Morningstar Investment Management, Google Locations: what's, U.S

☆ Stop searching for 'the next Warren Buffett' — The 'Oracle of Omaha' is impossible to copy
▼ + stars: | 2023-08-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Every so often, a hot new investor on the rise is crowned "the next Warren Buffett" by the financial media, followed swiftly by disappointing performance that proves they're no "Oracle of Omaha." "The next Warren Buffett" remains Warren Buffett alone. What makes Buffett so hard to duplicate? That makes Buffett, famously a student of Columbia University's legendary value investing professor Ben Graham, the most venerated investor of his, or succeeding, generations. "Berkshire's economic moat is more than just a sum of its parts," said Greggory Warren, Berkshire analyst at Morningstar.

Persons: Warren Buffett, Sam Bankman, Buffett, Pershing, Bill Ackman, Eddie Lampert, Chamath, Berkshire Hathaway, LBJ, Ben Graham, Greggory Warren Organizations: Berkshire Hathaway, BNSF Railway, Apple, Columbia, Morningstar, Berkshire Locations: Omaha, Berkshire, New England

☆ Guggenheim is bullish on this cybersecurity stock despite a recent sell-off
▼ + stars: | 2023-08-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

A promising entry point in Fortinet shares has opened, according to Guggenheim. Analyst Raymond McDonough said he is "taking advantage of the digestion period" on shares, which tumbled 25% Friday following a mixed second-quarter earnings report. The analyst initiated a price target of $70 on shares, implying shares rallying 23.3% from their last close. Despite Friday's sell-off, the stock is still up more than 16% year to date. However, he added that most of the risk fears have been priced into the stock following Friday's selloff.

Persons: Raymond McDonough, McDonough, — CNBC's Michael Bloom Organizations: Guggenheim Locations: reaccelerate

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Cinemark, Nvidia, Meta, Berkshire Hathaway & more
▼ + stars: | 2023-08-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.

Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal

People ride a boat through a flooded road after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 3, 2023. The vast Hai River basin covers an area the size of Poland that includes Hebei, Beijing, Tianjin. On his visit to flood storage areas in Baoding, Ni added that it was necessary to reduce the pressure on Beijing's flood control and create a "moat" for the Chinese capital. "I'd like to know, among all the people living in flood storage areas across the country, how many of them know they are living in such areas?" As of 8:00 a.m. (0000 GMT) on Friday, Hebei had relocated more than 1.54 million people, including 961,200 from flood storage areas, state media reported on Saturday.

Persons: Doksuri, Tingshu Wang, Xi Jinping, Secretary Ni Yuefeng, netizens, netizen, David Kirton, Ryan Woo, Simon Cameron, Moore Organizations: REUTERS, Beijing, Hebei's Communist, Secretary, Reuters, China Water Resources, Ministry of Water Resources, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, China's, Hebei, Poland, Beijing, Tianjin, Baoding prefecture, Baoding, Xiongan, Ni, Weibo, Bazhou, Shanghai

Evacuated residents have been transferred to makeshift shelters in hotels and schools, according to state media reports. A woman sits next to a flooded road following heavy rains in Zhuozhou, in northern China's Hebei province on August 2, 2023. Jade Gao/AFP/Getty ImagesFlood control zonesSome 857,000 people have been relocated from these areas, state media reported. Under national rules, the cost of properties damaged due to the release of waters in flood control areas will be compensated by 70%. Floods inundate a village in Baoding city, Hebei province, on August 2, 2023.

Persons: Typhoon Doksuri, Jade Gao, ” Yang Bang, Yang, Ni Yuefeng, “, –, Cheng Xiaotao, Shao Sun, Sun, ” Organizations: Hong Kong CNN, Ministry of Water Resources, Getty, University of California, CNN, Sun Locations: Hong Kong, China’s Hebei province, Beijing, Tianjin, Hebei, Zhuozhou, China's Hebei, AFP, Hebei province, “, ”, Baoding, –, China, University of California Irvine, North China

☆ Anger Builds in Towns Deliberately Flooded, in Part, to Save Beijing
▼ + stars: | 2023-08-04 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: 1 min

For days, the rain came down in sheets, pounding Beijing and areas around it in what the government said was the heaviest deluge China’s capital had seen since record keeping began 140 years ago. When the extreme downpour finally stopped on Tuesday, most of Beijing had been spared the worst — but partly because officials made sure the floodwaters went elsewhere. Officials in Hebei Province, which borders Beijing, had opened flood gates and spillways in seven low-lying flood control zones to prevent rivers and reservoirs from overflowing in Beijing and the region’s other metropolis, Tianjin, state media said. The Communist Party leader of Hebei, Ni Yuefeng, said he ordered the “activation of flood storage and diversion areas in an orderly manner, so as to reduce the pressure on Beijing’s flood control and resolutely build a ‘moat’ for the capital.”

Persons: Ni Yuefeng, ” Organizations: Communist Party Locations: Beijing, Hebei Province, Tianjin, Hebei, Ni

☆ Chinese are forking out more money for smartphones despite wider slowdown — that's good news for Apple
▼ + stars: | 2023-08-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese consumers are on average spending more on smartphones than ever before, according to new data, which bodes well for U.S. giant Apple in a critical market for its expensive iPhones. The average selling price of smartphones in mainland China was $450 last year and is expected to keep growing this year, market research firm Canalys said in a report last week. International Data Corporation told CNBC that the average selling price for smartphones in China was nearly $470 in the first quarter of this year, up about 5% year-on-year. The rise in ASP signals that the high-end part of the smartphone market remains resilient and that's where Apple competes. This trend is positive for Apple, which was the only vendor in the top five in China to record growth in shipments in the second quarter, Canalys said.

Persons: Canalys, Lucas Zhong, Zhong Organizations: Apple, CNBC, International Data Corporation, IDC, Apple Watch, Android Locations: China

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Tesla, Amazon, Chevron, Walmart, Adobe & more
▼ + stars: | 2023-07-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Monday's biggest calls on Wall Street: Goldman Sachs upgrades Chevron to buy from neutral Goldman said it sees a cash flow inflection for the oil and gas giant. Morgan Stanley names Keurig Dr Pepper a top pick Morgan Stanley said the beverage giant is its new top pick. Morgan Stanley reiterates Walmart as overweight Morgan Stanley said Walmart+ continues grow and gain new members. Morgan Stanley downgrades Salesforce to equal weight from overweight Morgan Stanley said positive catalysts are in the "rear-view mirror" for the stock. Morgan Stanley upgrades Adobe to overweight from equal weight Morgan Stanley said in its upgrade of Adobe that it sees generative AI driving creativity.

Persons: Goldman Sachs, Goldman, Bernstein, Morgan Stanley, Dr Pepper, Jefferies, Carvana, there's, Cowen, Piper Sandler, Apple, Piper, JPMorgan downgrades, it's, Ford, Oppenheimer, Evercore, Morgan Stanley downgrades Salesforce, Tesla Organizations: Chevron, Nvidia, Apple, Walmart, JPMorgan, JPMorgan downgrades Penske, " Bank of America, Hasbro, of America, Deutsche Bank, York Community, Deutsche, RBC, CSX, Electric, GE, Triple, SG, Wayfair, Suisse, UPS, Credit Suisse, Teamsters, Adobe, Barclays, EV, Detroit Locations: China, York

☆ How Abu Dhabi's $276 billion Mubadala sovereign wealth fund is investing in software in the new age of AI
▼ + stars: | 2023-07-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

Ali Osman, head of technology and software investments at Abu Dhabi's giant Mubadala sovereign wealth fund, has invested steadily through it all and is not shying away from putting more money to work. He and his team focus on business software and specialize in private equity, making direct buyout investments and indirect bets through major PE firms. Osman works with many of the biggest and most successful PE firms in the tech space, including Thoma Bravo, TPG and Bain Capital. AI uncertainty and dataThe generative AI boom, and the rise of large language models, has introduced a major new variable to software investing. The other bottleneck is capital, basically the cash available to invest in software businesses.

Persons: Ali Osman, Mubadala, Osman, Thoma Organizations: Abu, Thoma Bravo, TPG, Bain Capital, Vista Equity Partners, PE Locations: Morocco, SalesLoft, mindspace

☆ So, that's the end of OpenAI's ChatGPT moat
▼ + stars: | 2023-07-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

In the fast-changing world of AI, OpenAI appeared to have created a powerful moat through ChatGPT. But Meta rolling out its own powerful language model, Llama 2, with few restrictions puts ChatGPT at risk. And unlike OpenAI's ChatGPT, Llama 2 doesn't come with an easy-to-use consumer interface. As the first popular entrant into the generative AI space, OpenAI's chatbot had the advantage of capturing the imaginations of millions before Google, Meta and the rest. But open models were always the threat.

Persons: OpenAI, chatbot, Mark Zuckerberg, Erin Scott, Warren Buffett, ChatGPT, Kali Hays, Rosalie Chan, Nathan Lambert, Lambert, It's Organizations: Meta, Google, Microsoft, ChatGPT, Stanford University, UC Berkeley

☆ The 10 top dividend stocks for payouts that last well into the future, according to Morningstar
▼ + stars: | 2023-07-20 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

A key consideration before buying dividend-paying stocks is whether they can sustain long-term yields. Adding dividend-paying stocks to a portfolio is one way to navigate the bearish sentiment. Dividend-paying stocks experience less volatility because investors often hold on to them for their yields. A key consideration before buying dividend-paying stocks is whether they can sustain long-term yields. Below is Morningstar's list of the 10 best dividend-paying stocks with strong financials.

Persons: Morningstar's David Harrell, Susan Dziubinski, isn't, David Harrell, Dan Lefkovitz, Harrell Organizations: Bank of America, Morningstar, Verizon, Comcast Locations: Wells Fargo

☆ Meta opens AI model to commercial use, throwing nascent market into flux
▼ + stars: | 2023-07-18 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

"Any incremental improvement in open-source models is eating into the market share of closed-source models because you can run them cheaply and have less dependency," said Masad. The announcement follows plans by Microsoft's largest cloud rivals, Alphabet's (GOOGL.O) Google and Amazon (AMZN.O), to give business customers a range of AI models from which to choose. Amazon, for instance, is marketing access to Claude - AI from the high-profile startup Anthropic - in addition to its own family of Titan models. Google, likewise, has said it plans to make Claude and other models available to its cloud customers. Until now, Microsoft has focused on making technology available from OpenAI in Azure.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Bard chatbot, Amjad Masad, Claude, Katie Paul, Jeffrey Dastin, Krystal Hu, Kenneth Li Organizations: YORK, OpenAI, Google, Microsoft, Meta, Amazon Web Services, Thomson

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