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☆ Why your nest egg is Apollo's 'single biggest opportunity' for growth
▼ + stars: | 2024-11-05 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Helping fund that growth has been growing demand for retirement products, said CEO Marc Rowan. Here's Rowan's case for why your nest egg is the next frontier for the alternative asset manager. Helping to fund those loans is Apollo's retirement business, which Apollo CEO and cofounder Marc Rowan sees as the investment firm's "single biggest opportunity" for future growth. A slide from Apollo's earnings presentation that highlights inflows into Apollo's lines of business. Advertisement"I do envision a day when we will be talking about 60-40 portfolios that are comprised of public and private," Rowan said.

Persons: Marc Rowan, Here's, —, There's, Rowan, Athene, Apollo Rowan, unravels ChatGPT, Trump, Rowan hasn't Organizations: Apollo Global Management, Service, Apollo Global, North Star

☆ OpenAI hires Meta's former Orion head to lead its robotics efforts
▼ + stars: | 2024-11-05 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

The former head of Meta's Orion augmented reality glasses initiative has joined OpenAI to lead the startup's robotics and consumer hardware efforts. OpenAI has gained popularity for its viral chatbot, ChatGPT, but the hiring underscores its apparent efforts to move into building and selling hardware. Former Apple exec Jony Ive, who helped design some of Apple's most iconic products from the iMac to the iPhone, has also partnered with OpenAI to create an AI device. The startup focuses on "bringing general-purpose AI into the physical world," per its website, and it aims to do this by developing large-scale artificial intelligence models and algorithms to power robots. Kalinowski's first day on the job at OpenAI is Tuesday, Nov. 5, per a LinkedIn post.

Persons: Orion, OpenAI, Caitlin, CK, Kalinowski, Jony, Jeff Bezos, Meta Organizations: Apple, Physical Intelligence, Amazon, Lux Capital, Bond Capital, Meta, Orion, Pro Locations: San Francisco, OpenAI

☆ Perplexity AI in final stages of raising $500 million round at $9 billion valuation
▼ + stars: | 2024-11-05 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Perplexity AI, the artificial-intelligence search engine startup, is in the final stages of raising $500 million in funding at a $9 billion valuation, a source familiar with the situation told CNBC. Perplexity most recent valuation was $3 billion in June. Perplexity started the year with a roughly $500 million valuation. Despite the AI boom, Perplexity has been embroiled in controversy due to accusations of plagiarizing content from media outlets. WATCH: Perplexity unveils AI election hub: Here's what you need to know

Persons: Perplexity, OpenAI, Microsoft's Bing, Der Spiegel, Dmitry Shevelenko, Shevelenko Organizations: CNBC, Google, Institutional Venture Partners, New York Times, Media, The Texas Tribune, WordPress Locations: ChatGPT

☆ OpenAI is making moves toward becoming a for-profit company
▼ + stars: | 2024-11-05 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

OpenAI is one step closer to becoming a for-profit company. A for-profit structure would be much more conventional for the investors OpenAI is courting. Reports of the California attorney general's involvement in the process indicate the company is one step closer to formalizing the unprecedented shift, which would require the attorney general's approval. Neither OpenAI nor the California attorney general's office immediately responded to Business Insider's request for comment. A for-profit structure would be much more conventional for the big-name investors OpenAI is increasingly courting, including Microsoft and Nvidia.

Persons: —, Sam Altman, general's, OpenAI, Rob Bonta, Bret Taylor Organizations: Bloomberg, Service, Microsoft, Nvidia Locations: California, Delaware

☆ Analysts tout an 'underappreciated growth driver' at Microsoft that can benefit from AI
▼ + stars: | 2024-11-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

The news In a note to clients on Tuesday, RBC Capital Markets described LinkedIn as an "underappreciated growth driver." Revenue rose roughly 10% to $4.29 billion in fiscal Q1, driven by growth across all lines of its business. While not a crucial part of Microsoft's overall top line, it's still an incremental driver of revenue growth and can help the company further diversify its income streams. The morning after last week's earnings Jim Cramer said Microsoft shares below $400 each would be an interesting buy level. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Satya Nadella, OpenAI, Jim Cramer, Jim Cramer's, Jim, Beata Zawrzel Organizations: Microsoft, RBC Capital Markets, RBC, LinkedIn, Revenue, CNBC, Nurphoto, Getty Locations: India, Brazil

☆ How Women Are Building Community to Succeed in the AI Space.
▼ + stars: | 2024-11-05 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +8 min

But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men. And recent data from the UK shows that only about 4% of AI startups in the country have women founders. Developing relationships with other women working in the AI space has become a vital lifeline, she said. There were plenty of women interested in building AI companies, she said. AdvertisementThis observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups.

Persons: Saumya Bhatnagar, Bhatnagar isn't, Fei Fei Li, Daniela Amodei, Mira Murati, it's, Bhatnagar, she's, I'm, Vivien Ho, Ho, they're, Forbes, Rejpal, Rajpal, Stephanie Guo, Guo Organizations: Deloitte, Bay Area, FFC, Pear, Zetta Venture Partners, Bloomberg Beta, GitHub, Sapphire Ventures Locations: Bay, San Francisco

☆ Jeff Bezos just made his latest bet in the AI robotics space. Here are the 6 startups he's backed so far.
▼ + stars: | 2024-11-05 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

BI has compiled a list of which AI robotics startups Bezos has backed so far, per PitchBook. Physical Intelligence is at least the third spatial intelligence startup Bezos has backed this year, according to PitchBook. Related storiesFigure AIFigure AI builds AI robots that can take over unsafe jobs from humans. Bezos invested in an undisclosed funding round in 2021, while Bezos Expeditions invested in its $24 million Series A funding round in 2020. Bezos Expeditions invested in the startup's $30 million Series E in 2017, $40 million Series D in 2015, $30 million Series C in 2012, $20 million Series B in 2010, $7 million Series A1 in 2009, and $5 million Series A in 2008.

Persons: Jeff Bezos, —, Andreessen Horowitz, Bezos, OpenAI Organizations: Service, Khosla Ventures, Intelligence, The New York Times, Bezos Expeditions, New York Times, Sentinel, HAHN Group

☆ Gen Z, millennials are using AI for personal finance advice, report finds
▼ + stars: | 2024-11-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

A new report by Experian found that 67% of polled Gen Zers and 62% of surveyed millennials are using artificial intelligence to help with their personal finances. Users say that generative AI tools like ChatGPT have helped in areas including saving and budgeting (60%), investment planning (48%) and credit score improvement (48%). The Gen Z respondents were ages 18 to 27 while millennials were ages 28 to 43. According to data Experian provided to CNBC, 98% of Gen Z adults and 98% of millennials had a positive experience with the software. While using generative AI can help as a first step to drawing up a budget or figuring out how to increase your credit score, always verify the information through external resources, experts say.

Persons: Experian, Gen Zers, Christina Roman, millennials, Xers Organizations: Finance, CNBC

☆ The election is a big test for AI companies
▼ + stars: | 2024-11-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

AI companies have been adjusting their election offerings and guidelines ahead of Election Day. Perplexity launched an Election Information Hub with information on candidates, voting logistics, and results. Related VideoThe AI search engine launched a dedicated "Election Information Hub" that uses AI to provide information about the upcoming election and results tracking. While the live election updates may be helpful to users, AI-generated election content poses a number of risks. AdvertisementGoogle , which experienced some highly publicized AI fails with its Gemini AI and AI Overviews, chose to implement constraints on what users can ask its AI products about the election.

Persons: Perplexity, —, Sara Platnick, Platnick, Perplexity Alon Yamin, Yamin, OpenAI, ChatGPT, Anthropic's Claude, Anthropic, Brad Carson, it's, Carson Organizations: Google, Service, Business, Associated Press, Democracy, Reuters, Innovation

☆ Jeff Bezos and OpenAI invest in robot startup Physical Intelligence at $2.4 billion valuation
▼ + stars: | 2024-11-04 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Physical Intelligence, a robot startup based in San Francisco, has raised $400 million at a $2.4 billion post-money valuation, the company confirmed Monday to CNBC. Investors included Amazon founder Jeff Bezos, OpenAI, Thrive Capital and Lux Capital, a Physical Intelligence spokesperson said. Physical Intelligence's new valuation is about six times that of its March seed round, which reportedly came in at $70 million with a $400 million valuation. Physical Intelligence hopes that model will be the first step toward its ultimate goal of developing artificial general intelligence. In case studies, Physical Intelligence details how its tech could allow a robot to do laundry, bus tables or assemble a box.

Persons: Sam Altman, Jeff Bezos, OpenAI, Microsoft's Bing Organizations: Economic, Amazon, Change, Physical Intelligence, CNBC, Investors, Lux Capital, Khosla Ventures, Sequoia Capital, Tesla, Google, Intelligence Locations: Davos, Switzerland, Glasgow, Scotland, Britain, San Francisco, ChatGPT

☆ Mark Cuban and Tim Cook swear by this time-saving email hack: 'It's changed my life'
▼ + stars: | 2024-11-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Moreover, 87% believe the benefits of artificial intelligence (AI) outweigh its risks. Some of the world's top business leaders are using AI to conquer a familiar pet peeve at work: a cluttered inbox. Now, Cook, 64, relies on summaries from Apple Intelligence, the tech giant's newest AI offering. Even before Apple Intelligence was released to the public on iOS devices on Oct. 28, Cook said it changed his productivity and daily habits. AI has also helped Cuban be more efficient in his personal life.

Persons: Tim Cook, Cook, It's, Mark Cuban, Gemini's, Cuban Organizations: Gartner, Apple, Wall Street, Apple Intelligence, CNBC, Google, Gmail Locations: Cuban

☆ Apple has a new batch of AI features arriving in time for the holidays
▼ + stars: | 2024-11-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Apple is expected to expand Apple Intelligence with an iOS 18.2 update on December 2. Apple said it plans to build out Apple Intelligence over the next several months, with drops in December and April. Related Video How AI will change the iPhone and other Apple productsWith visual intelligence, Apple said iPhone 16 owners can use their new Camera Control button to get information on objects or places — or translate languages with AI. While its rivals have been quick to announce and launch their AI offerings, Apple is taking a slower approach. Apple Intelligence was announced at the Worldwide Developer Conference in June.

Persons: —, Apple, Siri Organizations: Apple, Apple Intelligence, Service, Bloomberg, Microsoft, Meta, Worldwide, Conference

☆ The Rise of GodGPT: Religions Are Using Bots for Spiritual Formation
▼ + stars: | 2024-11-03 | by ( John Brandon | ) www.businessinsider.com time to read: +9 min

"Dealing with social anxiety can be challenging, but there are several approaches that might help," the bot responded. "Cathy represents our innovative approach to leveraging technology in support of spiritual exploration," says Rev. Lorenzo Lebrija, the founding director of TryTank and an Episcopal priest. But they've designed it to help spiritual seekers talk about subjects they feel "vulnerable or defensive" about. John Brandon is a journalist who has published over 15,000 articles on social media, technology, leadership, mentoring, and many other topics.

Persons: Cathy, It's, Lorenzo Lebrija, Lebrija, Andrew Doyle, Jesus, Chatbot Eli, Gita GPT, Father Justin, they've, Elon Musk, Joshua K, Smith, I'm Cathy, Sam Altman, Thomas Telving, Richard Zhang, I've, —, Rev, Doyle, Telving, John Brandon Organizations: TryTank Research, Episcopal, Episcopal Church, of, Gatorade, Google Locations: of Texas

☆ Snowflake CEO explains why 'the insidious thing' about AI hallucinations isn't the occasional error
▼ + stars: | 2024-11-03 | by ( Jaures Yip | ) www.businessinsider.com time to read: +5 min

Snowflake CEO Sridhar Ramaswamy said tech firms lack transparancy about their AI hallucination rates. Snowflake CEO Sridhar Ramaswamy said AI companies would benefit from making it clear just how often that happens. Some tech moguls have defended AI hallucinations, including OpenAI CEO Sam Altman, who said that AI models that only answered when absolutely certain would lose their "magic." Anthropic cofounder Jared Kaplan said earlier this year that the end goal is AI models that don't hallucinate, but occasional chatbot errors are a necessary "tradeoff" for users. AdvertisementBaris Gultekin, Snowflake's head of AI, told Business Insider in a statement that AI hallucinations are the "biggest blocker" for generative AI to front-end users.

Persons: Sridhar Ramaswamy, —, Snowflake, Logan Bartlett, Ramaswamy, Sam Altman, Altman, Jared Kaplan, OpenAI, Baris, it's, Gultekin, Claude, ChatGPT Organizations: Service, Google, AIs

☆ Sam Altman explains OpenAI's shift from open to closed AI models
▼ + stars: | 2024-11-02 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +5 min

CEO Sam Altman explained the company's shift to closed AI models in a Reddit AMA on Thursday. AdvertisementWhy doesn't OpenAI open-source the AI models behind ChatGPT if the company is called OpenAI? Altman responded that open source "plays an important role in the ecosystem and there are great open source models in the world." The comments from Altman follow a year in which OpenAI has received criticism for no longer open-sourcing its AI models. "There is no single open source AI definition, and defining it is a challenge because previous open source definitions do not encompass the complexities of today's rapidly advancing AI models," the spokesperson said.

Persons: OpenAI, Sam Altman, —, Altman, Elon Musk, ChatGPT, Musk, Ilya Sutskever, Mark Zuckerberg, OpenAI's GPT Organizations: Service, Microsoft, OpenAI, Meta, OSI

☆ What Wall Street learned from the week's Big Tech earnings flurry
▼ + stars: | 2024-11-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Among the megacap stocks, Alphabet , Amazon and Microsoft grew year-over-year, cloud-based revenue by 35%, 19% and 20%, respectively. But of the five largest companies that have so far reported results — Meta Platforms , Alphabet, Amazon, Apple and Microsoft — only two finished the week higher. META 5D mountain Meta, 5 days Commentary from some of the tech companies signaled that AI demand remains robust. Amazon CEO Andy Jassy justified stepped up AI spending, saying that investors will be rewarded over the long haul. AMZN 5D mountain Amazon, 5 days Meanwhile, the still enormous spending patterns among megacap technology companies signals no downturn for de facto AI leader Nvidia.

Persons: Gene Munster, Sundar Pichai, Andy Jassy, Ray Wang, Wang, Mark Malek, Constellation's Wang, Satya Nadella's, Eric Clark, Clark Organizations: Microsoft, Apple, Constellation Research, Brands, Nvidia

☆ Generative A.I. Made All My Decisions for a Week. Here's What Happened.
▼ + stars: | 2024-11-01 | by ( Kashmir Hill | Hang Do Thi Duc | ) www.nytimes.com time to read: +5 min

Decisions I would normally agonize over, like travel logistics or whether to scuttle dinner plans because my mother-in-law wants to visit, A.I. Letting your mother-in-law cook can be a great idea, especially if she enjoys it and it gives you a break. And it made good decisions, such as advising me to be nice to my mother-in-law and accept her offer to cook for us. (Generative A.I. Just as we’ve outsourced our sense of direction to mapping apps, and our ability to recall facts to search engines, this explosion of A.I.

Persons: ChatGPT, I’d, couldn’t, Taupe ”, Chive, didn’t, Ms, Jang, ”, Judith Donath, Harvard’s Berkman Klein, “, it’s, Donath Organizations: Harvard’s Berkman Klein Center, chum, The New York Times, OpenAI, Microsoft Locations: A.I, Olive, OpenAI

New York Attorney General Letitia James speaks during a press conference at the Office of the Attorney General in New York on February 16, 2024. With four days until the presidential election, U.S. government officials are cautioning against reliance on artificial intelligence chatbots for voting-related information. "Study after study has shown examples of AI chatbots hallucinating information about polling locations, accessibility of voting and permissible ways to cast your vote." "We agree with the NY Attorney General that voters should consult official channels to understand where, when, and how to vote," an Anthropic spokesperson told CNBC. "For specific election and voting information, we direct users to authoritative sources as Claude is not trained frequently enough to provide real-time information about specific elections."

Persons: Letitia James, Donald Trump, Kamala Harris, James, It's, Alexandra Reeve Givens, chatbots, Claude, OpenAI, ChatGPT, it's Organizations: New, New York, Republican, Democratic, Center for Democracy & Technology, CNBC, Google, NY Locations: New York, U.S, Mistral

☆ Chinese researchers develop AI model for military use on the back of Meta's Llama, Reuters reports
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +2 min

Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. It was found to outperform some other AI models that were roughly 90% as capable as OpenAI's powerful ChatGPT-4. The researchers didn't elaborate on how they defined performance or specify whether the AI model had been put into service. Meta has embraced the open release of many of its AI models, including Llama.

Persons: Army's, Meta META.O, ChatBIT, Sunny Cheung, Meta Organizations: People's Liberation Army, Reuters, PLA, Academy of Military Science, Meta, Jamestown Foundation Locations: China, U.S

☆ Intel’s getting kicked out of the Dow
▼ + stars: | 2024-11-01 | by ( ) edition.cnn.com time to read: +1 min

Intel’s shares (INTC) have declined 54% this year, making it the worst performer on the index and leaving it with the lowest stock price on the price-weighted Dow. The stock fell about 1% in extended trading on Friday, while Nvidia (NVDA) was up 1.5%. Launched in 1968, the Silicon Valley pioneer sold memory chips before switching to processors that helped launch the personal computer industry. In the 1990s, “Intel Inside” stickers turned commodity electronic components into premium products and eventually became ubiquitous on laptops. The company’s 10-for-one stock split in June also helped pave the way for its addition to the index, making its soaring shares more accessible to retail traders.

Persons: Dow, TSMC, OpenAI Organizations: CNN, Intel, Dow Jones, Nvidia Locations: chipmaking, ChatGPT

☆ Amazon CEO pledges AI investments will pay off as capital expenditures surge 81%
▼ + stars: | 2024-10-31 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

"I think we've proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business," Jassy said. "We expect the same thing will happen here with generative AI." The jump in spending is primarily being driven by generative AI investments, Jassy said. A day earlier, Alphabet CFO Anat Ashkenazi warned the company expects capital spending to grow in 2025. Amazon has said its cloud unit has picked up more business from companies that need infrastructure to deploy generative AI models.

Persons: Andy Jassy, Jassy, OpenAI, we're, Mark Zuckerberg, Anat Ashkenazi, It's, it's Organizations: Amazon Web Services, Meta, Microsoft, Amazon Locations: OpenAI

☆ What Wall Street expects from Amazon, Apple earnings after the bell
▼ + stars: | 2024-10-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Wall Street faces another key litmus test Thursday with results from megacap technology giants Apple and Amazon . For Apple, Wall Street also wants to see its latest iPhone pick up steam, and investors seek more insight into when the company's AI initiative will begin lifting sales. For Apple, Wall Street expects EPS of $1.60 on $94.58 billion in revenue. Amazon's retail business also remains top of mind for Wall Street ahead of the busy holding shopping period. Apple For Apple, Wall Street is eagerly searching for signs of strong demand for its latest iPhone model and updates on its AI strategy.

Persons: Jason Helfstein, Brent Thill, Bank of America's Justin Post, Doug Anmuth, Goldman Sachs, Eric Sheridan, Ronald Josey, Morgan Stanley, Erik Woodring, Jefferies, Edison Lee, Samik Chatterjee, Davidson's Gil Luria, Wamsi Mohan, Tim Long, AAPL, Long Organizations: Apple, Nasdaq, Microsoft, Wall, LSEG, Amazon, StreetAccount, Jefferies, Bank of America's, Apple Intelligence, " Bank of America, Barclays Locations: Amazon

☆ Microsoft's stock heads for worst day in two years after disappointing forecast
▼ + stars: | 2024-10-31 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft 's better-than-expected earnings report wasn't enough to prevent the stock's steepest selloff in two years, as investors instead focused on the company's forecast for the current period. Microsoft shares fell more than 5% on Thursday and headed for their worst day since Oct. 26, 2022, when they dropped 7.7%. Amazon , which leads the cloud infrastructure market, is scheduled to report results after the close on Thursday. Net income rose 11% to $24.67 billion from $22.29 billion in the year-ago quarter.

Persons: Satya Nadella, Amy Hood Organizations: Microsoft, Revenue, Google, BofA Global Research Locations: Jakarta, Indonesia

☆ OpenAI CEO Sam Altman says new AI model taking a while because 'we can't ship' as quickly as hoped
▼ + stars: | 2024-10-31 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"All of these models have gotten quite complex and we can't ship as many things in parallel as we'd like to," Altman wrote during a Reddit AMA. Regarding the next version of DALL-E, Altman wrote that the "next update will be worth the wait" but that there's no "release plan yet." The move also positions OpenAI as more of a competitor to Microsoft, which has invested close to $14 billion in OpenAI. For Altman, Reddit isn't just a communications platform. WATCH: OpenAI takes on Google with ChatGPT search

Persons: Sam Altman, Altman, OpenAI, Sora, Kevin Weil, Srinivas Narayanan, Microsoft's Bing, Narayanan, Bing, Reddit isn't Organizations: Google, CNBC, AVM Vision, ChatGPT, Microsoft Locations: San Francisco , California, OpenAI, ChatGPT

☆ OpenAI launches ChatGPT search
▼ + stars: | 2024-10-31 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI launches ChatGPT searchCNBC's Kate Rooney joins 'The Exchange' to report on OpenAI's new entry to take on search engines.

Persons: Kate Rooney

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