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☆ World’s Five Leading Chipmakers Have Now Promised U.S. Investment
▼ + stars: | 2024-08-06 | by ( Ana Swanson | Madeleine Ngo | ) www.nytimes.com time to read: +1 min

The Biden administration said on Tuesday that it would award up to $450 million in grants to a South Korean chipmaker, SK Hynix, to help build its new chip facility in Indiana, in what officials described as a milestone in rebuilding the U.S. semiconductor manufacturing industry. With the announcement, the United States now has commitments from all five of the world’s leading-edge semiconductor manufacturers to construct chip plants in the United States with financial assistance from the administration, Commerce Secretary Gina M. Raimondo said in a call with reporters on Monday. The Biden administration previously announced that it had reached agreements with Intel, Taiwan Semiconductor Manufacturing Company, Samsung and Micron to help fund investments in the United States. “These are the only companies in the world capable of producing leading-edge chips at scale,” she said. SK Hynix announced in April that it had committed to investing $3.87 billion in a facility in West Lafayette, Ind.

Persons: Biden, Gina M, Raimondo Organizations: SK Hynix, Intel, Taiwan Semiconductor Manufacturing Company, Samsung, Micron, ” SK Hynix Locations: Korean, Indiana, United States, West Lafayette, Ind

☆ Why Google should feel nervous about OpenAI's SearchGPT, according to a search engine expert
▼ + stars: | 2024-08-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewWith the recent launch of SearchGPT, OpenAI has positioned itself to compete with Google in the search engine market. The new tool allows users to search the web in real time and automatically summarize results from Microsoft's Bing. Chris Rodgers, the CEO at SEO agency CSP, has worked in the search engine industry for over 20 years. He told Business Insider that SearchGPT may not pose an immediate threat to Google Search. He also said Google should feel the heat because OpenAI has presented a better strategy than Google in its rollout of SearchGPT.

Persons: —, OpenAI, Microsoft's Bing, hasn't, Chris Rodgers, Rodgers, that's, Axel Springer, SearchGPT, it's Organizations: Service, Google, Business, Astra, Vox Media, News Corp Locations: ChatGPT

☆ Now is the time to 'buy things on sale' in the stock market, advisor says. Here's what to know
▼ + stars: | 2024-08-06 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"What would you buy that you know that your household would need for the future?" "That could be like paper towels, it could be toilet paper, it could be things that you know that you're going to need long term." It's smart to adopt a similar mindset when the stock market pulls back as it did Monday, said Sun, who is also a member of the CNBC Financial Advisor Council. "When the stock market pulls back at these levels, these are great opportunities to invest in core names or a quality portfolio that you always wanted," she said. "It's better to buy things on sale than to buy at full price."

Persons: Winnie Sun, Sun, Roth Organizations: Sun Group Wealth Partners, CNBC, Finance, Dow Jones, Nasdaq, Dow Locations: Irvine , California

☆ This labor data trend is a 'warning sign,' economist says. Here's why
▼ + stars: | 2024-08-06 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

The unemployment rate jumped in July, and there is a detail in the data that has alarmed some economists. So-called marginally attached workers, according to the Bureau of Labor Statistics, are those who are available to work and want a job, but have not searched for a job in the four weeks preceding the survey. Bustamante assessed marginally attached workers plus unemployed workers as a group, which the BLS refers to as U-6. "That's a warning sign" for the labor market, he said. It is a sign that people want a job, but are having a hard time finding a job, he said.

Persons: Alí Bustamante, Bustamante, Kamala Harris, Nick Bunker Organizations: Bureau of Labor Statistics, Worker Power, Economic Security, Roosevelt Institute, Finance, North Locations: New York City, North America

☆ Simone Biles' career shows why putting your mental health first can pay off in the end
▼ + stars: | 2024-08-06 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +6 min

Many will remember, however, that Biles faced a very different battle during the last Olympics: her mental health. Related stories"What some people don't know is that not treating your mental health can lead to different conditions," she said. However, mental health leave isn't accessible for many Americans. Goehner said that most companies do not allow paid mental health leave without written permission from a healthcare professional. However, she said, small, incremental lifestyle changes can improve mental health in the workplace.

Persons: —, Simone Biles, She's, she's, Biles, Covid —, belittled, shouldn't, JD Vance, Janna Koretz, Ana Goehner, Simone, Goehner, Andy Cheung, Koretz Organizations: Service, Olympics, Business, NBC, Workers Locations: American

Jordan Chiles won her first individual Olympic medal in Monday's floor exercise final, but originally, the judges left her off the podium. After losing an all-around bronze medal in a heart-wrenching tiebreaker, Raisman thought she was fourth again on the beam. Raisman was on the 2016 Olympic team with Biles that won team gold and collected more medals than any U.S. gymnastics team in history. Chiles lost the chance to contend for an all-around medal to her teammate Suni Lee, who went on to win bronze. Eight years ago, Raisman won her last Olympic medal in Rio, a silver in her signature event, the floor exercise.

Persons: Jordan Chiles, Aly Raisman, Mihai Brestyan, Chiles, Raisman, Naomi Baker, Simone, Simone Biles, Biles, Ana Barbosu, Barbosu, Jordan, Catalina Ponor, Suni Lee, Jordyn Wieber Organizations: NBC, Team United States, Bercy Arena, Paris Games, London Olympics Locations: Paris, Romanian, London, Rio

Jordan Chiles won her first individual Olympic medal, a bronze, but it appeared at first that she would finish off the podium. She originally placed fifth but submitted an inquiry to the judges and received a tenth back on her final score. Jordan Chiles celebrates her bronze medal as Simone Biles, right, looks on. Rebeca Andrade of Brazil earned gold and Biles, Chiles' teammate and training mate, took silver. Elsa / Getty ImagesVoinea and Barbosu both scored 13.700 on their floor routines, but until Chiles' appeal, Barbosu retained the bronze medal position due to her superior execution score.

Persons: Jordan Chiles, Chiles, didn't, Cecile Landi, “, ” Chiles, Simone Biles, Marijan Murat, Jordan, that's, Sabrina Voinea, Ana Barbosu, Rebeca Andrade, Biles, Andrade, Simone her, Elsa, Barbosu, Aly, Catalina Ponor Organizations: AP Locations: Tokyo, Brazil, United States, Paris, Romanian, London

☆ X will close its headquarters after Elon Musk trashed San Francisco — but he's not done with California yet
▼ + stars: | 2024-08-05 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Twitter — now called X — is closing its San Francisco office, CEO Linda Yaccarino says in a memo. A New York Times reporter first posted about the news — on X. AdvertisementElon Musk last month said he was sick of "dodging gangs of violent drug addicts" just to get into X's San Francisco headquarters. A New York Times reporter posted — on X — that the company would close its San Francisco headquarters "over the next few weeks." CEO Linda Yaccarino wrote in an email to X employees that workers would move to offices in San Jose.

Persons: Linda Yaccarino, —, Elon, X Organizations: Twitter, San, Palo, New York Times, Service, X's San, Times, Business Locations: Bay, San Jose, Palo Alto, X's, X's San Francisco headquarters, San Francisco

☆ Why you may want to reconsider a career in AI
▼ + stars: | 2024-08-05 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

NYU Stern's chief AI architect warns against chasing AI jobs because of tech's cyclical nature. Chief AI Conor Grennan suggests going after what you're good at and enhancing it with AI. But hopping on the AI job train may not be the smartest idea, NYU's Stern School of Business Chief AI Architect Conor Grennan told Business Insider. Grennan emphasizes the tech industry's cyclical nature and questions the long-term stability of AI jobs. This story is available exclusively to Business Insider subscribers.

Persons: Conor Grennan, —, NYU's, Grennan Organizations: NYU Stern's, Service, NYU's Stern School of Business, Business

☆ With Smugglers and Front Companies, China Is Skirting American A.I. Bans
▼ + stars: | 2024-08-04 | by ( Ana Swanson | Claire Fu | ) www.nytimes.com time to read: +1 min

In the southern Chinese city of Shenzhen, a mazelike market stretches for a half-mile, packed with stalls selling every type of electronic imaginable. One vendor said he could order the chips for delivery in two weeks. Another said companies came to the market ordering 200 or 300 chips from him at a time. The United States, with some success, has tried to control the export of these chips. technology — part of a global effort to help China circumvent U.S. restrictions amid the countries’ growing military rivalry.

Organizations: Nvidia, U.S ., New York Times Locations: Shenzhen, United States, U.S, Hong Kong, China

☆ Takeaways From Our Investigation Into Banned A.I. Chips in China
▼ + stars: | 2024-08-04 | by ( Ana Swanson | ) www.nytimes.com time to read: +1 min

The United States has tried, with some success, to halt China’s progress with artificial intelligence amid concerns that the technology is helping modernize the Chinese military. U.S. officials have set up one of the most extensive tech blockades ever attempted, banning the export to China of advanced A.I. chips, which are primarily made by Nvidia, a Silicon Valley firm that is one of the world’s most valuable companies. But given the vast profits at stake, businesses around the world have found ways to skirt the rules, an investigation by The New York Times has found. technology in China — part of a global effort to help China circumvent U.S. national security restrictions.

Organizations: Nvidia, The New York Times Locations: States, China, Silicon, Beijing, Kunshan, Shenzhen

☆ I moved to Lithuania from the US. Life feels more stable here, and I have a better work-life balance.
▼ + stars: | 2024-08-03 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Bernard Meyer moved abroad in 2009 when the stock market crashed and ended up in Vilnius, Lithuania. In Vilnius, Meyer has a great work-life balance and is able to disconnect in nature. Go to newsletter preferences Thanks for signing up! His job and identity have been verified by Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Bernard Meyer, Meyer, —, It's Organizations: Service, Business Locations: Vilnius, Lithuania, Miami, Cape Town , South Africa, Mongolia

☆ How to cut your wedding guest list, according to experts: It's 'the No. 1 way to save money'
▼ + stars: | 2024-08-03 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

1 way to save money on your wedding is to cut the guest count," Shane McMurray, CEO and co-founder of The Wedding Report, recently told CNBC. "What we saw was that the pandemic gave people permission to have a tiny wedding," Miller said. In 2023, the average guest list was 134, The Wedding Report found. Here are ways experts suggest reducing your wedding guest list without cutting ties with family and friends in the process:1. Choosing a more intimate venue with a smaller capacity can help you maintain a solid guest list limit, experts say.

Persons: Victor Dyomin, Shane McMurray, Lauren Miller, Miller, Jessica Bishop, that's, Shannon Tarrant, Tarrant, Bishop, We're, Shannon Underwood, Underwood Organizations: CNBC, Washington , D.C, Finance, Wedding Merchants Business Academy Locations: Washington ,, Baltimore , Maryland, Florida, Orlando , Florida

☆ The labor market's soft landing 'is in danger,' economist says. Here's where jobs are still growing
▼ + stars: | 2024-08-02 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Tom Merton | Ojo Images | Getty ImagesJob seekers have been sour on the job market for a while now — and with good reason. "The soft landing in the U.S. labor market is in danger," Nick Bunker, Economic Research Director for North America for Indeed Hiring Lab, wrote in a statement on Friday. "Yellow flags had started to pop up in the labor market data over the past few months, but now the flags are turning red," Bunker said. Meanwhile, the unemployment rate increased to 4.3%, the highest since October 2021. To pivot, assess 'transferrable skills'Because the labor market is weakening, it might be hard for workers to find opportunities in their preferred industries, Bustamante noted.

Persons: Tom Merton, Nick Bunker, Bunker, Nonfarm payrolls, Alí Bustamante, Julia Pollak, Pollak, NEETS, Bustamante Organizations: Economic, North, Bureau of Labor Statistics, Worker Power, Economic Security, Roosevelt Institute, ZipRecruiter, Health, Finance Locations: U.S, North America, New York City

☆ People are now using ChatGPT as a manifestation tool
▼ + stars: | 2024-08-02 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewAI chatbots seem to be taking on an unexpected role as a tool for manifestation. AdvertisementLisa Van Meurs, a 26-year-old TikToker living in Barcelona, also started using ChatGPT as a manifesting tool for creating vision boards and story prompts. Clinical psychologist and manifestation expert Anna Kress said AI can be an "incredible tool to enhance manifestation practices," and can help people "break through psychological barriers." "I can see it being extremely useful for people who want to try manifestation practices but struggle with creativity or visualization," Kress said. Kress recommends using the tool as a supplement, rather than a replacement of inner work and personal insight.

Persons: —, Chloe DeChelle, DeChelle, Lisa Van Meurs, Van Meurs, Britta Stevenson, Stevenson, ChatGPT, Anna Kress, Kress Organizations: Service, Business Locations: ChatGPT, Barcelona

☆ Meta's going to spend like crazy on AI in the next year — and investors don't hate it
▼ + stars: | 2024-07-31 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Meta's second-quarter revenue hit $39 billion, surpassing Wall Street expectations. The company says it's going to keep spending big this year to support AI research and development. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Wall Street analysts had expected just over $38 billion. It's expecting to spend at least $35 billion to $37 billion this year — an increase from its last estimate.

Persons: Meta's, —, It's Organizations: Service, Wall Street, Business

Elijah Nouvelage | Afp | Getty ImagesHow the LIFT Act could look todaySince the LIFT Act was first proposed in 2018, the cost of living has only skyrocketed, hitting working-class Americans especially hard. However, funding such a tax credit now could be tough amid growing concerns over the federal budget deficit. The advantage of the LIFT tax credit, said D'Acunto, is that it doesn't create the same market distortions the rent cap would ignite. Child tax credit is a 'huge priority' for DemocratsLIFT was first proposed years before Congress temporarily expanded the child tax credit during the Covid-19 pandemic, which could now be a bigger priority, experts say. Harris described the child tax credit changes as one of the "most important" and "most impactful" parts of the legislation in a 2021 speech.

Persons: Kamala Harris, Elijah Nouvelage, Tomas Philipson, Joe Biden's, Laura Veldkamp, Harris, Donald Trump, Francesco D'Acunto, Biden, Karl Widerquist, Jacob Channel Organizations: Democratic, Afp, Getty, White House Council, Economic Advisers, CNBC, Columbia University Business School, Georgetown University, D'Acunto, Federal, Plus, American Rescue Plan, Columbia University, . Census Locations: Atlanta , Georgia, Atlanta

☆ A Nvidia employee shares 4 lessons he learned at the company over the last 5 years
▼ + stars: | 2024-07-31 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewA 38-year-old Subhan Ali is an AI product lead at Nvidia and has watched the company go through exponential growth over the last five years. But now that the AI boom is in full swing, Nvidia could become the world's most powerful company. Ali posted 23 lessons he learned at the company and shared them on LinkedIn. AdvertisementHe suggests doing things that are "radically different" and to build a vision around that. "If people or teams see something differently, it's just better in everyone's interest to openly discuss that," Ali told BI.

Persons: —, Ali, Nvidia hasn't, he's, doesn't Organizations: Service, Nvidia, Big Tech, Apple, Business, LinkedIn

☆ Tesla keeps touting self-driving but one analyst's near-crash shows it's 'not even close' to autonomy
▼ + stars: | 2024-07-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFollowing Elon Musk's bold assertions about "solving autonomy," a Truist Securities analyst took a Tesla Model Y out for a ride to test its Full Self-Driving capabilities. In a note seen by Business Insider, Truist analyst William Stein said the technology was "arguably worse than last time." This story is available exclusively to Business Insider subscribers. He said during the company's second-quarter earnings call that he would be "shocked" if the first Robotaxi ride wasn't possible next year, although he was unable to give an exact timeline.

Persons: —, Elon, William Stein, Stein, FSD, Tesla, Musk, Tesla didn't Organizations: Service, Truist Securities, Tesla, Business Locations: New York

☆ Here's a closer look at how much Big Tech is spending on AI
▼ + stars: | 2024-07-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Big Tech firms are investing in their own AI ventures as well as in external companies. Microsoft has put $13 billion into OpenAI, while Amazon and Google have backed Anthropic. AI investments are projected to reach $1 trillion, but firms are opaque about internal spending. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs the AI race heats up, Big Tech companies are both spending big on their own technology and strategically investing in external AI ventures.

Persons: —, Anthropic, Claude, ChatGPT Organizations: Big Tech, Microsoft, Amazon, Google, Service, OpenAI, Business Locations: OpenAI

☆ Housing affordability is 'moving in the right direction,' economist says. Here's what to know
▼ + stars: | 2024-07-30 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

A slight decrease in mortgage rates in the month of June definitely helped buyers, said Yun. Housing affordability is improving ever so modestly, but it is moving in the right direction. While there's still an affordability challenge broadly, conditions are "moving towards a more neutral market," Orphe Divounguy, a senior economist at Zillow. Total housing inventory registered at the end of June was 1.32 million units, up 3.1% from May and 23.4% from a year ago, according to NAR. Competition is easing fastest in the South, where all major southern markets except Dallas and Raleigh are either neutral or buyer-friendly, according to the June 2024 Zillow Housing Market Report.

Persons: Yun, Freddie Mac, Lawrence Yun, Chen Zhao, there's, Selma Hepp Organizations: Sdi, CNBC, Investors, National Association of Realtors, Zillow Locations: Redfin, Dallas, Raleigh

☆ Microsoft has investors really freaking out about Big Tech's AI spending
▼ + stars: | 2024-07-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Shares fell in post-market trading after Microsoft released its fourth-quarter earnings report. Its Azure cloud unit's revenue grew 29%, slightly slower than analysts had expected. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Microsoft released its Q4 earnings Tuesday afternoon, and the company grew its Azure cloud unit's revenue by 29%.

Persons: Satya Nadella, — Organizations: Microsoft, Service, Business

☆ The first Fed interest rate cut in years is on the horizon. Here's what homeowners, buyers need to know
▼ + stars: | 2024-07-29 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +5 min

Valentinrussanov | E+ | Getty ImagesThe Federal Reserve is poised to make the first interest rate cut in years this fall, which can influence mortgage rates to go down. To that point, people in the market to buy a home have been eagerly waiting for the Fed to cut rates. The Fed is meeting this week, but experts say it seems more likely that the first rate cut will come in September. That would be the first rate cut since 2020 in the onset of the Covid-19 pandemic. While mortgage rates are fixed and mostly tied to Treasury yields and the economy, they are partly influenced by the Fed's policy.

Persons: Chen Zhao, Freddie Mac, Refinance, it's, Zhao, Selma Hepp, Hepp, Jacob Channel, there's Organizations: Fed, Treasury, Mortgage, Association, Finance Locations: Redfin

☆ Interested in a second passport? Get ready to pay hundreds of thousands.
▼ + stars: | 2024-07-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

While most people wouldn't decline a backup option in another country, the process of obtaining a secondary passport can be quite complicated — and expensive. Business Insider spoke to Judi Galst, who manages Henley & Partners' New York office, about the general steps required to get a secondary passport. AdvertisementThe specific requirements vary by country, Galst said. Countries like Spain are slow for citizenship approval, but have a relatively quick path to residence through investment, Galst said. The Caribbean has the lowest cost, and it requires a $200,000 contribution or $300,000 investment in real estate per application.

Persons: —, Judi Galst, Galst Organizations: Service, Henley & Partners, Business, Henley, Partners, New, FBI, Security Locations: New York, Antigua, Portugal, Spain, Caribbean, Maltese, Malta

☆ They moved to the US from India. The transition was hard but they've grown to love the work-life balance.
▼ + stars: | 2024-07-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

"I had no reason to move here because my whole family, everyone was back in India," Bajaj said. She said interviews in India focus on past experience, while in the US, you are expected to sell yourself and talk about what you can bring to the table. In India, she said work place was very much a "community" where her coworkers were her best friends. Bajaj and Shah said they both had to learn the boundaries of professionalism in the US. Advertisement"You can do 18 hours of work in India because all you are doing is working," Bajaj said.

Persons: —, Priya Bajaj, Bajaj, Bajaj's, Darshan Shah, Shah, it's, hadn't Organizations: Service, Google, Sony Pictures, Business, Bajaj Locations: India, Mumbai, America

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