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The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. China said on Thursday it is "gravely concerned" about the order and that it reserves the right to take measures. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data.

Persons: Joe Biden, Elizabeth Frantz, Biden's, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Liz Lee, Lincoln, Jonathan Oatis, Cynthia Osterman, Michael Perry Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Chinese Commerce Ministry, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington, Beijing

The order is aimed at preventing American capital and expertise from helping China develop technologies that could support its military modernization and undermine U.S. national security. The White House said Biden consulted allies on the plan and incorporated feedback from Group of Seven nations. "Today the United States is taking a strategic first step to ensure American investment does not go to fund Chinese military advancement." Last year, total U.S.-based venture-capital investment in China plummeted to $9.7 billion from $32.9 billion in 2021, according to PitchBook data. The restrictions will hurt both Chinese and American businesses, interfere with normal cooperation and reduce investor confidence in the U.S., he said.

Persons: Joe Biden, Elizabeth Frantz, Biden, Chuck Schumer, Marco Rubio, Emily Benson, David Shepardson, Andrea Shalal, Stephen Nellis, Max Cherney, Krystal Hu, Karen Freifeld, Idrees Ali, Lincoln, Jonathan Oatis, Cynthia Osterman Organizations: White, REUTERS, Wednesday, U.S, Treasury, Biden, Seven, Democratic, Republicans, REPUBLICAN, The Semiconductor Industry Association, Center for Strategic, International Studies, Thomson Locations: Washington , U.S, WASHINGTON, China, U.S, Japan, Netherlands, United States, Washington

☆ Reaction to China inflation data
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +5 min

Below are comments from analysts on the inflation data:XING ZHAOPENG, SENIOR CHINA STRATEGIST, ANZ, SHANGHAI"Both CPI and PPI in year-on-year terms fell into negative territory and confirmed economic deflation. "With destocking and credit expansion, we expect PPI and CPI will rebound from the bottom in the fourth quarter. The CPI deflation may put more pressure on the government to consider additional fiscal stimulus to mitigate the challenge." XIA CHUN, CHIEF ECONOMIST, YINTECH INVESTMENT HOLDINGS, HONG KONG"The lower inflation data reflects weak demand on the mainland, which is biggest challenge facing China's economy. It also shows China's slower-than-expected economic rebound is not strong enough to offer the weaker global demand and lift commodity prices."

Persons: XING ZHAOPENG, CHUAN, FRANCES CHEUNG, Rather, ZHIWEI ZHANG, MARCO SUN, XIA CHUN, GARY NG, Liangping Gao, Ellen Zhang, Winni Zhou, Samuel Shen, Li Gu, Sam Holmes Organizations: ANZ, CPI, PPI, OCBC, SHANGHAI, MUFG BANK, ASIA PACIFIC, Thomson Locations: BEIJING, CHINA, SHANGHAI, China, SINGAPORE, HONG KONG, Japan, Beijing, Shanghai, Hong Kong

☆ The climate crisis may cause this tiny, ancient species to go extinct
▼ + stars: | 2023-08-09 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

And despite the fact that this ancient plant is one of the fastest-evolving species of moss known to science, it may not survive the climate crisis. The researchers embarked on multiple expeditions in the Himalayas to study Takakia moss. As the local temperature average increased each year, the population of Takakia moss decreased by 1.6% annually, the study authors noted. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot.

Persons: ”, Ralf Reski, Ruoyang Hu, “, Takakia, ” Reski, Yikun, ” Hu, don’t Organizations: CNN, University of Freiburg, Capital Normal University, “ Locations: Tibetan, Japan, United States, Germany, Takakia, China, Tibet

SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line during their ongoing strike outside Walt Disney Studios in Burbank, California, U.S., July 31, 2023. As evidence of its interest, Disney has 11 current job openings seeking candidates with expertise in artificial intelligence or machine learning. AI has become a powder keg in Hollywood, where writers and actors view it as an existential threat to jobs. In Switzerland, Disney Research has been exploring AI, machine learning and visual computing, according to its website. This technology is used to augment digital effects, not replace human actors, according to a source familiar with the matter.

Persons: Mario Anzuoni, Walt Disney, Walt Disney Imagineering, Indiana Jones, Disney Imagineer, Groot, Imagineer, Harrison Ford, STEAMBOAT WILLIE, Willie, Bob Iger, Marvel, Hao Li, Li, Scott Trowbridge, Dawn Chmielewski, Krystal Hu, Kenneth Li, Matthew Lewis Organizations: Writers Guild of America, Walt Disney Studios, REUTERS, Hollywood, Reuters, Disney, Guardians, Screen Actors Guild, STEAMBOAT, U.S . Patent, Swiss Federal Institute of Technology, Carnegie Mellon University, Disney Research, Star, Galactic, Thomson Locations: Burbank , California, U.S, Hollywood, Zurich, Pittsburgh , Pennsylvania, Pittsburgh, Disney's, Switzerland, Los Angeles, New York

☆ How to pick the coolest clothing for a heat wave
▼ + stars: | 2023-08-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

As the planet warms, experts say picking the right clothing to beat the heat will be critical to your health and well-being. Allow sweat to evaporateHumans are designed to self-regulate body temperature by radiating heat directly off the skin and by sweating. “But while you’re exercising, it would be a great choice.”At this time, however, no wardrobe choices can protect the body from really intense heat, Katta said. “The National Weather Service has done a great job of emphasizing the heat index, which considers both heat and humidity, and I think it’s really important,” Katta said. “We can create textiles, clothing and accessories as a form of health, for medicine, for human comfort,” Hu said.

Persons: ”, Rajani, it’s, Prabu, “, Katta, Petros Giannakouris, ” Katta, wicks, Dr, It’s, Jinlian Hu, Hu, Jade Gao, ” Hu Organizations: CNN, American Academy of Dermatology, Tourists, Skin Cancer, National Weather Service, City University of Hong, university’s, Healthcare, Getty Locations: Houston, Athens, Greece, City University of Hong Kong, Beijing, AFP

Aug 3 (Reuters) - Specialized cloud provider CoreWeave has raised $2.3 billion in a debt facility led by Magnetar Capital and Blackstone (BX.N) and collateralized by Nvidia chips, with the funds to be used to expand to meet rising AI workload, the company said on Thursday. Other lenders in the facility include Coatue and DigitalBridge (DBRG.N), as well as BlackRock, PIMCO, and Carlyle (CG.O). Nvidia-backed CoreWeave has seen a boost from the generative AI boom thanks to its purpose-built cloud infrastructure at scale. It has partnerships with AI startups and cloud providers, which it also competes with, to build clusters to power AI workload. CoreWeave also raised $421 million in equity this year led by Magnetar Capital at a valuation of over $2 billion.

Persons: Carlyle, Michael Intrator, CoreWeave, Krystal Hu, Conor Humphries Organizations: Magnetar Capital, Blackstone, Nvidia, Nvidia H100, CoreWeave, Microsoft, Google, Thomson Locations: BlackRock, PIMCO, Texas, U.S, New York

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

Aug 1 (Reuters) - Nile, a networking startup co-founded by former Cisco Systems executives John Chambers and Pankaj Patel, has raised $175 million in a new round to fund its efforts to build a Cisco competitor, the company said. Nile, which has previously raised $125 million, did not disclose its valuation, but said it had doubled since the last round. Data from PitchBook pegged the company's valuation at $395 million in 2020. Since its technology became available last May, Nile has signed customers such as Stanford University and startup Carta. Pankaj Patel, chief executive at Nile, said the young company can challenge the incumbents by offering ease of use at lower cost and advanced security features in its network.

Persons: John Chambers, Pankaj Patel, Hewlett, Nile, Patel, Sumant, Krystal Hu, Nick Macfie Organizations: Cisco Systems, Cisco, March Capital, Sanabil Investments, Saudi Telecom Company, Liberty Global, PitchBook, Juniper Networks, Hewlett Packard, Aruba Wireless, Stanford University, Reuters, Sumant Mandal, Thomson Locations: Saudi, San Jose, NaaS, Aruba, New York

☆ Niger coup: Europeans evacuated from West African country as neighboring juntas warn against intervention
▼ + stars: | 2023-08-01 | by ( Joseph Ataman Larry Madowo Caitlin Hu Shirin Faqiri Sana Noor Haq | Joseph Ataman | Larry Madowo | ) edition.cnn.com time to read: +6 min

CNN —France was preparing to evacuate French and European citizens from Niger on Tuesday after a presidential coup plunged the West African nation into a political crisis that polarized neighboring countries in the region. A message from the French embassy to French citizens in Niger, seen by CNN, instructed those wishing to be evacuated to bring food and water with them while they wait before boarding. Stringer/ReutersFrance and the European Union also cut off financial aid to Niger following the coup. Niger has “endemic problems, poverty, and terrorism, so there are many factors contributing to instability in the country,” Hudson added. In the wake of the deposition, some Nigeriens expressed their anger against the legacy of French colonialism and its continued influence in the West African country.

Persons: Catherine Colonna, Antonio Tajani, Mohamed Bazoum, Major Amadou Abdramane, Stringer, insurgencies, Bazoum, Cameron Hudson, ” Hudson, Issifou Djibo Organizations: CNN —, French, LCI, Embassy, CNN, Italian Foreign Ministry, West African States, Getty Images Security, Reuters, European Union, Nigerien, Niger, Center, Strategic, International Studies, World Bank, French Armed Forces, National Assembly Locations: CNN — France, Niger, West, France, Niamey, ”, Nigerien, Italy, Burkina Faso, Mali, Sahel, AFP, Reuters France, Guinea, Niger ., Niger’s, Africa’s Sahel, Nigeria, Western, Russia, Elysee, Moscow

☆ Haiti: Gang violence is tearing the country apart. Here's what to know
▼ + stars: | 2023-08-01 | by ( Caitlin Hu | ) edition.cnn.com time to read: +5 min

Waves of crime and unrest have hit Haiti since the assassination of former President Jovenel Moise in 2021. His successor, Prime Minister Ariel Henry, has struggled to staunch the violence, which is also a major impediment to holding crucial long-delayed elections in the country. For months, Henry and the United Nations Secretary General Antonio Guterres have called for a military intervention in the country. The mission, if eventually approved by the UN Security Council, is hoped to “restore normalcy” to Haiti, Mutua said. The Bwa Kale movement successfully deterred some gang activity, according to Haitian monitoring group CARDH, with kidnappings slowing in early summer.

Persons: Jovenel Moise, Ariel Henry, Henry, General Antonio Guterres, Alfred Mutua, ”, Mutua, Prince, Kale ”, Maria Isabel Salvador, Flavia Maurello, Ralph Tedy Erol, Kale, –, Alix Dorsainvil, Dorsainvil, “, Alix, Gedeon Jean, Dorsainvil’s, Jean Organizations: CNN, United Nations, Twitter, Kenyan, UN Security Council, US, Catholic, Borders, US State Department, El Locations: Haiti, Kenya, ”, Port, Haitian, Les, Prince, Tabarre, El Roi Haiti

☆ Blinken criticises China's 'problematic behaviour' during visit to Tonga
▼ + stars: | 2023-07-26 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

[1/6] U.S. Secretary of State Antony Blinken shakes hands with Tonga's Prime Minister Hu'akavameiliku Siaosi in Nuku'alofa, Tonga, July 26, 2023. UPOU VAIPULU/Pool via REUTERSWELLINGTON, July 26 (Reuters) - U.S. Secretary of State Antony Blinken warned of China's "problematic behaviour" during a visit to the Pacific island nation of Tonga on Wednesday, citing Beijing's militarisation of the South China Sea and what he called economic coercion. Blinken said at a press conference that the U.S. had no objection to China's engagement with the region but there were concerns that its investments needed to be transparent and undertaken with sustainable finance. "I think one of the things that we’ve seen is that as China’s engagement in the (Indo-Pacific) region has grown there has been some, from our perspective, increasingly problematic behaviour," he said. Blinken said the United States was committed to both Tonga and the broader Pacific Islands.

Persons: Antony Blinken, Hu'akavameiliku Siaosi, UPOU, Beijing's militarisation, Solomon, Blinken, Siaosi Sovaleni, Joe Biden, Wang Yi, Lloyd Austin, Emmanuel Macron, Sovaleni, Nuku’alofa, Lucy Craymer, Stephen Coates Organizations: Tonga's, REUTERS, Tongan, U.S . Defense, Embassy, Thomson Locations: Nuku'alofa, Tonga, REUTERS WELLINGTON, Pacific, South, U.S, Australia, New Zealand, United States, Washington, China, Papua New Guinea, Vanuatu, Beijing, Wellington , New Zealand

☆ China signals more support for real estate with a 'big change' in tone
▼ + stars: | 2023-07-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Construction on a real estate project in Yantai, Shandong province, gets under way on July 8, 2023. Nurphoto | Nurphoto | Getty ImagesBEIJING — China is changing its tone on the struggling real estate sector, paving the way for policy support. The statement reflects a "much clearer understanding about the seriousness of the situation," said Qin Gang, executive director of China real estate research institute ICR. He expects policies beneficial to the real estate market and consumption will come out in coming days. So far, the biggest real estate policy change has been this month's extension of measures to support developers, which were first revealed in November.

Persons: Larry Hu, Hu, Qin Gang, Ricky Tsang, China's, Tsang, It's, Zong Liang, Zong, Tommy Wu, Wu Organizations: Nurphoto, Getty, CNBC, Macquarie, People's Bank of China, Qin, Seng Property Development, National Bureau of Statistics, Bank of China Locations: Yantai, Shandong province, BEIJING, China

☆ Her New Husband Came With a Haussmann-Style Apartment in Paris
▼ + stars: | 2023-07-25 | by ( Tim Mckeough | ) www.nytimes.com time to read: +1 min

By the time Megan Grehl finally met Côme Ménage, it felt as if their relationship was meant to be. “We missed each other by a month,” said Ms. Grehl, 37, who now runs her own interior design studio. You just missed Côme. When she posted a photo of the Bedford-Stuyvesant, Brooklyn, brownstone where she had rented an apartment, Mr. Ménage got in touch. Image Côme Ménage, a Brooklyn-based architect, and his wife, Megan Grehl, an interior designer, renovated his 19th-century apartment in Paris as their second home.

Persons: Megan Grehl, Côme Ménage, Grehl, Neri, Hu, Ménage, “, ”, she’d, Côme, Zack DeZon, Yves, Ren Locations: Shanghai, New York, Bedford, Stuyvesant , Brooklyn, Brooklyn, Paris, Williamsburg , Brooklyn

☆ Highest-level Chinese delegation to visit North Korea since Covid restrictions
▼ + stars: | 2023-07-25 | by ( Brad Lendon | ) edition.cnn.com time to read: +7 min

Seoul, South Korea CNN —A high-level Chinese government delegation is headed to North Korea this week, believed to be the highest-level representatives from Beijing to visit Pyongyang since the isolated country closed its borders during the Covid-19 pandemic. Li’s visit comes after an invitation from North Korea, the statement said. On Tuesday, North Korean state media said a Russian military delegation would also be visiting this week. North Korea silent on US soldierRelations have been further complicated by the decision of a US soldier to cross the border between North and South Korea last week in the demilitarized zone separating the two nations. King has not been publicly seen or heard from since he crossed into North Korea last Tuesday, and North Korea has also not said anything about the status or condition of the missing soldier.

Persons: Li Hongzhong, Hu Zhaoming, Li’s, “, ”, Leif, Eric Easley, Easley, Jang, Kang Sun Nam, Travis King, Andrew Harrison, Matt Miller, Miller, “ I’m, ” Miller, King, Travis King’s, Kim, ” Easley Organizations: South Korea CNN, Communist Party, International, Department of, Central Committee, Ewha Womans University, United Nations Command, Beijing, Aid, Jeju Naval, South, South Korean Defence Ministry New, United Nations, South Korea’s, Chiefs of Staff, US Navy, Naval Base, South Korean Defence, Jeju Naval Base, South Korean, North Korean Defense, UNC, King, CNN, US State Department, King , State, North Korean, State Department, Womans University Locations: Seoul, South Korea, North Korea, Beijing, Pyongyang, Seoul . North Korea, China, United States, Aid Korea, North Korean, Russian, Soviet Union, Korea, Annapolis, South Korean, South, Jeju, Kentucky, Busan, ” an Ohio, DPRK, North, Washington, King ,

July 24 (Reuters) - SoftBank Group (9984.T) is forming a joint venture with warehouse automation company Symbotic (SYM.O) to build AI-powered warehouses that will be majority owned by the Japanese technology investor, the companies said on Monday. The unit has also signed a contract to buy AI-powered systems from Symbotic that will be worth $7.5 billion in the next six years. Based in Wilmington, Massachusetts, Symbotic provides robotics warehouse automation solutions and counts Walmart (WMT.N) as its major backer and customer. The Japanese company will have a 65% stake in GreenBox, with Symbotic owning the rest. For fiscal year 2022, Symbotic reported revenue of $593.3 million, up 136% year over year, with a loss of $139.1 million.

Persons: Symbotic, Rick Cohen, upping, Masayoshi Son, Zaheer Kachwala, Krystal Hu, Shailesh Kuber, Anil D'Silva, Cynthia Osterman Organizations: SoftBank, Systems, SoftBank Group Corp, Walmart, JV, Tokyo bourse, Thomson Locations: SoftBank, Wilmington , Massachusetts, Tokyo, GreenBox

WASHINGTON/NEW YORK, July 21 (Reuters) - Top AI companies including OpenAI, Alphabet (GOOGL.O) and Meta Platforms (META.O) have made voluntary commitments to the White House to implement measures such as watermarking AI-generated content to help make the technology safer, the Biden administration said. Congress is considering a bill that would require political ads to disclose whether AI was used to create imagery or other content. President Joe Biden, who is hosting executives from the seven companies at the White House on Friday, is also working on developing an executive order and bipartisan legislation on AI technology. Other commitments include developing AI solutions to scientific problems like medical research and mitigating climate change. Reporting by Diane Bartz in Washington and Krystal Hu in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Biden, Chuck Schumer, Joe Biden, Diane Bartz, Krystal Hu, Matthew Lewis Organizations: WASHINGTON, Microsoft, White, Thomson Locations: cybersecurity, U.S, Washington, New York

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Courtesy of Rebecca Lewington of Cerebras Systems/Handout via REUTERSJuly 20 (Reuters) - Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to supply the first of three artificial intelligence (AI) supercomputers to the United Arab Emirates-based technology group G42. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. The contract to complete the first of the three systems announced on Thursday is worth about $100 million, Cerebras CEO Andrew Feldman said. "What we're saying is that the $100 million contract takes us through Condor Galaxy 1... That's the unit, the building block."

Persons: Rebecca Lewington, Cerebras, Talal AlKaissi, Andrew Feldman, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

Hong Kong CNN —China has promised to throw its weight behind private businesses, just days after a slew of economic data showed growth momentum had slumped. The measures include promises to break down barriers to market access for private firms, to “fully implement” a system of fair competition and to strengthen enforcement of anti-monopoly laws. “We believe that the … pivot from the top level is real, but it’s not enough to bring back the animal spirit among private companies,” Larry Hu, chief China economist at Macquarie Group, wrote in a research note. That pledge had marked a major shift from leader Xi Jinping’s years-long effort to rein in private businesses, which were perceived as too powerful and disorderly. The Nasdaq Golden Dragon China Index closed 0.7% higher, after falling in several previous trading sessions.

Persons: “, Larry Hu, Xi Jinping’s, Premier Li Qiang, Li, ”, Ma, Lei Jun Organizations: Hong Kong CNN, Communist Party, State Council, Macquarie Group, ”, Investment, Premier, Alibaba, Tencent, Nasdaq, Dragon Locations: Hong Kong, China, Beijing, New York, Dragon China, Shanghai

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Abu Dhabi-based G42, a tech conglomerate with nine operating companies that include datacenter and cloud service businesses, says it plans to use the Cerebras systems to sell AI computing services to health care and energy companies. G42 has raised $800 million from U.S. tech investment firm Silver Lake, which has backing from Mudabala, the UAE's soverign wealth fund. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. G42 Cloud's AlKaissi declined to comment on the terms of the deal.

Persons: Rebecca Lewington, Cerebras, Andrew Feldman, Feldman, Talal AlKaissi, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Cerebras, UAE, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

Moritz, 68, will now focus on Sequoia Heritage, a $15 billion wealth management fund that he helped launch in 2010. The fund will be independent from Sequoia Capital, with focus on a diversified range of assets, according to the letter. A spokesperson for Sequoia Capital confirmed Moritz's exit and declined to comment on details. Sequoia Capital has been going through a generational transition as partner Roelof Botha took on the firm's global leadership position in July 2022. Economic challenges and geopolitical tensions have made venture capital fundraising and investment difficult, and eaten into global venture funds' returns.

Persons: Michael Moritz, Moritz, Roelof Botha, OpenAI's, Mike Vernal, Krystal Hu, Kanjyik Ghosh, Nilutpal, Saumyadeb Chakrabarty, Will Dunham Organizations: Sequoia Capital, Reuters, Sequoia Heritage, Google, PayPal, Sequoia, Venture, Silicon, Thomson Locations: Sequoia, United States, Europe, New York, Bengaluru

July 18 (Reuters) - Consultancy giant McKinsey said it had struck a partnership with artificial intelligence startup Cohere in an effort to provide AI solutions to its enterprise clients. We found Cohere to be one of the great solutions out there," Ben Ellencweig, senior partner at McKinsey, told Reuters in an interview. McKinsey said it was working with Cohere to build customized solutions to help improve customer engagement and workflow automation for clients. Cohere competes with OpenAI with a focus on generative AI solutions for enterprises. It also announced a partnership with Oracle, which will embed Cohere's generative AI technology in its products.

Persons: Ben Ellencweig, Cohere, Martin Kon, PwC, Bain, Krystal Hu, Himani Sarkar Organizations: Consultancy, McKinsey, Microsoft, Reuters, Google, Nvidia, Oracle, Salesforce Ventures, Cohere, Accenture, Company, Deloitte, Thomson Locations: New York

☆ 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

July 15 (Reuters) - Twitter's cash flow remains negative because of a nearly 50% drop in advertising revenue and a heavy debt load, Elon Musk said on Saturday, falling short of his expectation in March that Twitter could reach cash flow positive by June. "Need to reach positive cash flow before we have the luxury of anything else," Musk said in a tweet replying to suggestions on recapitalization. It is unclear what time frame Musk was referring to by the 50% drop in ad revenue. He has said Twitter was on track to post $3 billion in revenue in 2023, down from $5.1 billion in 2021. On Thursday, Twitter said that select content creators will be eligible to get a part of the ad revenue the company earns in an attempt to draw more content creators to the site.

Persons: Elon Musk, Musk, Twitter, Linda Yaccarino, NBCUniversal, Yaccarino, Jahnavi, Grant McCool Organizations: Twitter, Musk, BBC, Thomson Locations: Bengaluru

☆ Thousands join Budapest Pride in protest at state's anti-LGBT moves
▼ + stars: | 2023-07-15 | by ( Boldizsar Gyori | ) www.reuters.com time to read: +2 min

BUDAPEST, July 15 (Reuters) - Thousands of Hungarians braved scorching heat for the annual Pride march in Budapest on Saturday, protesting against government controls over public displays by the LGBT community. "I think the Budapest Pride is really liberating, we can be very proud of it, but I think we are still discriminated in the grey everyday life," designer Danyi Mark. [1/5]People attend the annual Pride march in Budapest, Hungary, July 15, 2023. On Friday, the embassies of the United States, Germany and 36 other countries urged Hungary to protect LGBT rights and scrap discriminatory laws. The government stance towards Hungary's LGBT community was seen as resonating with Orban's conservative voters in the countryside ahead of his fourth-term election win in 2022.

Persons: Viktor Orban's, Gergely Varga, Danyi Mark, Bernadett Szabo, Hungary's, David Pressman, Boldizsar Gyori, Andrew Cawthorne Organizations: European Union, REUTERS, Thomson Locations: BUDAPEST, Budapest, Hungary, United States, Germany

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