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☆ Techies, salespeople, and industry execs arrive in Las Vegas for the Mobile World Congress trade show
▼ + stars: | 2024-10-08 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +5 min

Mobile World Congress, a mobile communications trade show, is coming to Las Vegas this week. Techies, salespeople, and industry executives are arriving in Nevada this week for MWC Las Vegas, which kicks off today. The annual mobile-communications trade show brings more than 250 exhibitors, sponsors, and partners to the Las Vegas Convention Center in Sin City from Tuesday to Thursday. 5G technology is on track to add $210 billion in GDP to the North American economy by 2030, GSMA's "Mobile Economy North America" report said. The trade show in Vegas comes more than seven months after Mobile World Congress Barcelona, which is also hosted by GSMA.

Persons: —, Lara Dewar, GSMA, Dewar, Booz Allen, Ulf Ewaldsson, Nvidia's, Ronnie Vasishta, Shankar Arumugavelu, Randi Zuckerberg, Hug, Mark Zuckerberg's Organizations: Mobile, Las, Service, MWC Las Vegas, Nvidia, Salesforce, Las Vegas Convention, MWC, Vegas, Enterprise, GSMA Intelligence, Verizon, Qualcomm, Cisco, Microsoft, Samsung, Apple, Apple Intelligence, Google, MWC Americas, Congress Barcelona, GSMA, Motorola, Lenovo, Verizon Global Services, Department of, Air Force's Locations: Las Vegas, Nevada, Sin City, North, America, Vegas, Venice

☆ Former Humane execs secure $25 million valuation after departing AI hardware startup
▼ + stars: | 2024-10-08 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

Two former executives of Humane, the embattled AI hardware startup, are reemerging with a new artificial intelligence software venture that has raised $4 million at a $25 million valuation. He and Hartley Moy are marketing the startup toward enterprise customers in industries like finance, insurance, SaaS, healthcare services and media. "It really came down to the opportunity that we saw in the enterprise side of the house," Hartley Moy, Infactory's CEO, told CNBC. But the two's departure had to do with the business opportunities they saw when working at Humane, Hartley Moy said. WATCH: Former Apple designers launch $700 Humane AI Pin as smartphone replacement

Persons: Brooke Hartley Moy, Ken Kocienda, Kocienda, Hartley Moy, Sam Altman, Marc Benioff, Slack, Andreessen Horowitz, Infactory, Ohtani Organizations: Humane, CNBC, HP, Microsoft, Tiger Global, Google, Apple, Bee Partners, SPV Locations: Salesforce

☆ How Sri Pangulur went from building his own syndicate to co-leading Mayfield's Series B investing practice
▼ + stars: | 2024-10-07 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +7 min

He decided to formally create a syndicate called Overtime VC, investing up to $250,000 in seed and Series A rounds. Through Overtime, Pangulur invested nearly $20 million in 65 companies, with a focus on enterprise infrastructure and apps. Related storiesHe also continued investing through his syndicate, Overtime VC, and brought these firsthand experiences to the founders he advised. 'Cooking' at the Series BPangulur began raising his own venture fund based on the success of his syndicate fund, Overtime VC. Earlier this month, Pangulur announced two new investments he led: a $25 million Series B for billing infrastructure startup Orb and a $28 million Series B for TeamBridge, a workforce operating software startup.

Persons: Pangulur, parlayed, Mayfield, —, hackathons, Navin Chaddha, Chaddha, Lehman Organizations: Tribe Capital, Fund, Service, Security, Mayfield Fund, Case Western University, KeyBanc, Markets, Lehman Brothers, TeleSoft Partners, VC, Mayfield, Spring Fund, Chaddha Locations: Silicon Valley, Michigan, Ohio, North America, CloudFlare, —

☆ Average property insurance payment up 52% for single-family homes from 2020, says ICE VP Andy Walden
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAverage property insurance payment up 52% for single-family homes from 2020, says ICE VP Andy WaldenAndy Walden, ICE vice president of enterprise research, joins CNBC's 'The Exchange' to discuss how natural disasters have impacted insurance costs for Americans, where storm-impacted homeowners are relocating to, and more.

Persons: Andy Walden Andy Walden

☆ Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.
▼ + stars: | 2024-10-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

He joined VC firm Menlo Ventures in 2021 and has invested in generative AI startups like Pinecone. Using his technical expertise as a former programmer and CTO, Tully is helping amass an impressive portfolio of AI startups at Menlo Ventures. He's also written code as a way to help win over startups in the broader Menlo Ventures portfolio. That helped seal the deal, and Ionita led Orb's $14 million Series A funding round. While Menlo has been bolstering its portfolio with AI infrastructure startups, Tully said he's excited these days about opportunities at the application layer.

Persons: Tim Tully, —, Tully's, Tully, He's, Warby Parker, Roku, Uber, Jess Lee, I've, Naomi Pilosof Ionita, Ionita, he's, legaltech –, Eve Organizations: Yahoo, Menlo Ventures, Service, Venture, Apple, Menlo, Bay Area, Data Systems, Oracle, AOL, Huffington, Sequoia Locations: Bay, Splunk, –

☆ The hidden value of a college degree: Graduates are much more likely to have friends
▼ + stars: | 2024-10-06 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +10 min

AdvertisementIn recent years, many young people have questioned whether the benefits of a college degree are worth the cost of tuition. According to a new survey, college graduates appear to have a clear edge in one area: their social lives. However, the widespread decline in socialization in recent decades has been steeper for people without a college degree. AdvertisementAdditionally, people without a college degree may also be more likely to work multiple jobs, or have roles with unpredictable hours, Pressler said. Going to college can be a "supercharger of relationships"Of course, some of the social benefits of a college degree date back to the connections fostered on campuses.

Persons: —, American Enterprise Institute —, Vivek Murthy, Sam Pressler, Pressler, they'd Organizations: Service, Survey Center, American Enterprise Institute, Survey, University, Virginia's, of Democracy, YMCA

☆ Vista Outdoor agrees deal to sell its ammunition and sporting goods divisions for $3.4 billion
▼ + stars: | 2024-10-05 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

Vista Outdoor has announced a deal to sell its two divisions for $3.4 billion. It is set to sell Revelyst, its sporting goods business, for around $1.13 billion. That deal is subject to the completion of the sale of its ammunition business, Kinetic Group, for about $2.23 billion. Advertisement"Together, the CSG Transaction and the SVP Transaction represent an enterprise value of $3.35 billion for Vista Outdoor and will deliver an estimated $45 per share in cash to Vista Outdoor stockholders," the press release says. AdvertisementCzechoslovak Group is being advised by JPMorgan on the new deal, while Morgan Stanley is advising Vista Outdoor.

Persons: —, Michael Callahan, Morgan Stanley, Vista's Organizations: Kinetic, Service, Partners, Czechoslovak Group, CSG, Vista, Vista Outdoor, Reuters, JPMorgan, Moelis, Company Locations: Minnesota, Prague

☆ Israel's strike back at Iran could hurt the Harris campaign in its final stretch if gas prices soar
▼ + stars: | 2024-10-05 | by ( Brent D. Griffiths | Chris Panella | ) www.businessinsider.com time to read: +12 min

The move could drive oil prices up further, creating a headache for Harris' campaign. If Israel did strike Iran's oil, it would likely have two main targets. Then, on Thursday, he said the US and Israel were discussing whether the US would support Israel striking Iran's oil facilities. Biden has indicated there are conversations between the US and Israel about whether Iran's oil facilities are a legitimate retaliatory strike option. Back in September, global oil prices fell to the lowest level in almost three years, and the US has seen a historic year of oil production.

Persons: Israel, Harris, —, Kamala Harris, Patrick De Haan, De Haan, Clay Seigle, Siegle, ATTA KENARE, Kit Haines, Haines, Hassan Nasrallah, Ismail Haniyeh, Biden, Benjamin Netanyahu, Netanyahu, Wisam, Seigle, Joe Biden, backtrack, Michael M, Nicholas Carl, there's, Privately, JIM WATSON Organizations: Service, Incumbents, Getty, Analysts, Energy, Wednesday, National Iranian Tanker Company, American Enterprise, Business, Publicly Locations: Iran, Israel, Ukraine, Tehran, Yemen, AFP, Hormuz, Saudi, Anadolu, Russia

☆ Jim Cramer's week ahead: CPI data and earnings from Delta, Domino's and major banks
▼ + stars: | 2024-10-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer reviewed next week's top market-moving action, highlighting new consumer price index data and a slew of earnings reports as the season begins, including ones from Delta , Domino's and several major banks. The labor department will release September's CPI report on Thursday, and Cramer said investors who want a rate cut are hoping for a cool number. Friday brings the producer price index report, and like the CPI, this data will be a metric for the Fed's next decision, Cramer said. Big ticket financial earnings will also come out that day, including Wells Fargo , JPMorgan and Blackrock . He said banks represent the least expensive group on the market, and investors should use any weakness to buy them.

Persons: CNBC's Jim Cramer, Cramer, he's, Delta, Tesla Organizations: Wall, PepsiCo, General Motors, Federal, Big Tech, AMD, HP Enterprise, Big, JPMorgan, Blackrock Locations: Delta, Domino's, Wells Fargo

☆ Celebrities who partied with Diddy may want to contact their lawyers
▼ + stars: | 2024-10-04 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +9 min

Celebrities who partied with Combs may want to consult their lawyers, entertainment attorneys told BI. AdvertisementCelebrities who attended Sean "Diddy" Combs' parties should consider lawyering up, even if they attended one of his more high-profile soirees. "He's had many legitimate parties over the years and, chances are, most celebrities and guests were not aware of his sex parties." AdvertisementThe "Freak Offs," prosecutors say, occurred regularly, often in hotel rooms, and sometimes lasted multiple days. "Sean Combs' white parties and other events were iconic, a true convergence of hip-hop, Hollywood, and Black excellence.

Persons: Sean, Diddy, Combs, —, Wayne Dennison, Brown Rudnick, Johnny Depp, Amber Heard, Dennison, Neama Rahmani, they're, Rahmani, Stuart Morton, Camron, Mills Sadat Dowlat, Tre Lovell, Lovell, He's, Marc Agnifilo, Jane Rosenberg, Sean Combs, Johnny Nunez, WireImage, Adria, Jonathan Davis Organizations: Service, Hamptons, West, Trial, Getty, Los, Lovell, Reuters, White Party Locations: Beverly Hills, St, Manhattan, Brooklyn, Los Angeles, Miami

☆ The influencer middle class is getting squeezed as marketers turn to superstar creators and celebs
▼ + stars: | 2024-10-04 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

Influencer marketers are moving away from campaigns with micro influencers and back to big stars. AdvertisementA few years ago, influencer marketers were ditching their plans to hire celebrity content creators for brand deals in exchange for influencers with smaller audiences. Micro influencers as a category of work dropped from 74% to 62% between 2023 and 2024, while nano influencer work fell from 37% to 28%. One micro influencer, Bethany Everett-Ratcliffe, said she'd felt this impact on her business. Other marketers have reported up to 20% cost increases among micro influencers between 2023 and 2024.

Persons: —, Kim Kardashian, influencers, Linqia, Bethany Everett, Ratcliffe, she'd, Keith Bendes, Bendes, James Nord, Sabrina Carpenter's, Michael Cera's, Olivia McNaughten, Jonathan Chanti Organizations: Service, Blank, Viral, UGC Locations: Linqia, Everett

☆ Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months
▼ + stars: | 2024-10-04 | by ( Julia Hood | Tim Paradis | ) www.businessinsider.com time to read: +17 min

During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.

Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton

☆ China wants Taiwan to make mistakes and is looking for excuses to trigger a blockade, Taiwan's navy commander says
▼ + stars: | 2024-10-04 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

China has ramped up its military presence around Taiwan, the country's navy commander said. Adm. Tang Hua told The Economist that China wants it to make a mistake so it can justify a blockade. AdvertisementChina is trying to force Taiwan into making mistakes and is looking for excuses to trigger a blockade, according to Taiwan's navy commander. Adm. Tang Hua told The Economist that China is "slowly, but surely" ramping up its military presence around Taiwan and is ready to blockade Taiwan "at any time they want." "The PLA is trying to force Taiwan to make mistakes," he said, using the acronym for China's People's Liberation Army.

Persons: . Tang Hua, —, Adm . Tang Hua, Tang, Phil Davidson, Wellington Koo, Xi Jinping Organizations: Economist, China, Service, PLA, People's Liberation Army, American Enterprise Institute, Institute for, Institute for Economics, Peace, Lieber Institute for Law, Warfare, Financial Times Locations: China, Taiwan, Point, People's Republic of China

Hospitals across the U.S. are taking steps to conserve their supplies of IV fluids after Hurricane Helene struck a critical manufacturing plant belonging to the country’s biggest supplier. IV fluids are used to deliver drugs or water with electrolytes directly into a patient’s bloodstream. Follow live updates on the aftermath of Hurricane HeleneThere are four primary manufacturers of IV fluids in the U.S. Baxter is the leader, accounting for about 60% of the market. The company is the main supplier for Mass General Brigham in Boston, which uses more than 100,000 liters of IV fluid from Baxter every month. “Patients are still getting IV fluids when they need them,” Biddinger said.

Persons: Helene, They’re, Baxter, Brigham, Dr, Paul Biddinger, Biddinger, it’s “, ” Biddinger, ” Organizations: Baxter International, Mass, Gatorade Locations: U.S, , North Carolina, Boston

While there's no universal minimum credit score to rent an apartment, landlords generally prefer applicants with a good credit score, which is at least 670. How to improve your credit score for rentingIf your credit score isn't stellar right now, don't worry. The average credit score of a Gen Z consumer is 680 compared to the average baby boomer's credit score of 745. Credit builder loans and rent reporting companies can help you add credit history to your credit report. Frequently asked questions about apartment credit score requirementsCan you rent an apartment if you do not have credit?

Persons: —, TransUnion, Kendall Meade, Jay Zigmont, Jennifer, Read Organizations: Fair, Childfree, Business, Yahoo, Finance, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: AnnualCreditReport.com, SoFi, Chevron, America, TheGrio, New York City

☆ CNN requested an interview with Melania Trump. Her book publisher asked for $250,000 in exchange
▼ + stars: | 2024-10-03 | by ( Hadas Gold | Pamela Brown | ) edition.cnn.com time to read: +8 min

CNN —Nearly two months ago, CNN reached out to Melania Trump’s book publisher to request an interview with the former first lady ahead of her upcoming memoir. After several exchanges about a possible interview, the publisher sent an unusual demand last week: an interview would cost $250,000. Melania Trump’s spokesperson declined comment. Spokespeople for ABC, NBC and CBS declined to comment on whether they received a similar request for payment from Trump’s publisher. But in this case, the Trump campaign hasn’t been involved in Melania Trump’s book rollout.

Persons: Melania, ”, ” Tony Lyons, “, ” Lyons, Melania Trump’s, Donald Trump’s, Melania Trump, Trump, Lyons, Simon, Simon & Schuster, Marc Beckman, CNN –, “ It’s, Kate Anderson Brower, Grace, ” Anita McBride, George W, Bush, ” McBride, I’ve, Ainsley Earhardt, Fox’s Sean Hannity, Trump’s, it’s, Kelly McBride, Craig Newmark, Anita McBride, Casey Anthony, George Stephanopoulos, recusing, ABC’s, McBride, hasn’t, Donald Trump, CNN’s Brian Stelter Organizations: CNN, Skyhorse Publishing, ” CNN, ” Records, NDA, Simon &, American University, Fox News, ABC, NBC, CBS, Guardian, Ethics, The Poynter Institute, ABC News, Wednesday, Washington, Clinton Foundation, Poynter Institute, Trump

This article is part of “Dealing the Dead,” a series investigating the use of unclaimed bodies for medical research. For five years, the unclaimed dead of Dallas and Tarrant counties were delivered to the University of North Texas Health Science Center in Fort Worth. There, the bodies were assessed based on their usefulness to medical science: Those that tested positive for infectious diseases or had begun to decompose were cremated. Others were cut into pieces and leased out to medical schools, the U.S. Army and for-profit medical technology companies. The database is based on spreadsheets of unclaimed bodies obtained through open records requests from the county medical examiners.

Persons: — Organizations: University of North Texas Health Science, U.S . Army, NBC, Health Science Center, NBC News, Dallas Locations: Dallas, Tarrant, Fort Worth, freezers, Texas

Michael Jordan, NBA Hall of Famer and co-owner of 23XI Racing looks on during the NASCAR Cup Series FireKeepers Casino 400 at Michigan International Speedway on August 18, 2024 in Brooklyn, Michigan. 23XI Racing was founded in 2020 by NBA legend Jordan, driver Denny Hamlin and Jordan's longtime business partner, Curtis Polk. Michael Jordan's NASCAR team, 23XI Racing, and fellow team Front Row Motorsports filed an antitrust lawsuit against NASCAR and CEO Jim France on Wednesday, arguing that they have used anticompetitive practices to prevent fair competition in the sport. Jordan, a longtime racing fan, is the first Black majority owner of a full-time racing team in the NASCAR series since legendary driver Wendell Scott. "Everyone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track.

Persons: Michael Jordan, 23XI, Jordan, Denny Hamlin, Curtis Polk, Bob Jenkins, Michael Jordan's, Jim France, Tyler Reddick, Jenkins, he's, Jeff Gordon, Wendell Scott Organizations: Hall of Famer, 23XI, NASCAR, Michigan International Speedway, Michael Jordan's NASCAR, Row Motorsports, Deck Toyota, Cook, Darlington Raceway, SC, Fox, NBC, Amazon, Warner Bros, Hendrick Motorsports Locations: Brooklyn , Michigan, France, Darlington, North America

☆ Bonobos cofounder Andy Dunn has a new IRL social startup. Read the 31-page pitch deck it used to raise $11.5 million.
▼ + stars: | 2024-10-02 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

Pie, an IRL social startup, raised $11.5 million in Series A funding led by Forerunner Ventures. Founded by Bonobos' Andy Dunn, Pie focuses on in-person connections and events. One of many emerging "IRL social" apps, Pie lets users plan and join in on IRL hangouts. Advertisement"This is venture-backed startups," Dunn said, adding that by the time of Pie's Series B, it will have a monetization engine locked down. Read the 31-page pitch deck that Andy Dunn used to raise Pie's Series A:Note: Pie has redacted details and amended some pages so that the document could be shared externally.

Persons: Bonobos, Andy Dunn, Pie, —, Dunn, Vivek Murthy, Kirsten Green, Ev Williams, Marisa Fanco's, wasn't, " Dunn, Mary Doctor Organizations: Forerunner Ventures, Service, IRL, US, Origin Ventures, Pie's Locations: Chicago, New York City, Los Angeles, San Francisco

☆ Michael Jordan’s 23XI Racing, alongside Front Row Motorsports, file antitrust lawsuit against NASCAR and its CEO
▼ + stars: | 2024-10-02 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +4 min

In the federal antitrust lawsuit, filed Wednesday and obtained by CNN, the two teams said, “The France family and NASCAR are monopolistic bullies. 23XI Racing's Tyler Reddick (#45) and Front Row Motorsports' Michael McDowell (#34) battle in a NASCAR race. “Today’s action shows I’m willing to fight for a competitive market where everyone wins.”Bob Jenkins, owner of Front Row Motorsports, issued a similar sentiment. “I have been part of this racing community for 20 years and couldn’t be more proud of the Front Row Motorsports team and our success. Meg Oliphant/Getty ImagesThe lawsuit comes after more than two years of negotiations between NASCAR and racing teams.

Persons: Hall of Famer Michael Jordan, Jim France, ”, Denny Hamlin, “, 23XI Racing's Tyler Reddick, Michael McDowell, Jeff Robinson, Jordan, ” Bob Jenkins, ” Jenkins, ” Jordan, Meg Oliphant, Frances, NASCAR “, 23XI Organizations: CNN, NASCAR, Hall of Famer, Motorsports, Associated Press, 23XI, Sunday, Talladega Superspeedway Locations: North America, France, United States, Alabama

☆ Goldman sees nearly 40% upside for Dell on AI server demand, PC refresh
▼ + stars: | 2024-10-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Goldman's forecast implies roughly 37% upside ahead for Dell stock from its $113.16 close on Tuesday. Dell stock has surged more than 51% in 2024. In particular, Ng pointed to Dell's $3.8 billion AI server backlog in the second-quarter as a prime example of robust demand. "Enterprise and sovereign AI opportunities are in earlier stages of adoption, and the company continues to optimize its organization to address AI demand across customer verticals and regions," Ng said. "AI server margins should improve over time through a greater mix of higher margin services revenue and a diversification to a larger number of AI server customers."

Persons: Goldman Sachs, Michael Ng, Ng, Dell, DELL Organizations: Dell Technologies, Dell, Enterprise, Windows Locations: Texas

☆ Here are the big things pulling the stock market in all different directions
▼ + stars: | 2024-10-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Apple Intelligence : Club stock Apple turned positive Wednesday, despite more analysts trimming their 2024 iPhone 16 estimates. Interestingly, Apple Intelligence is the sixth top reason someone would buy a new iPhone, according to a recent survey by JPMorgan analysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, payrolls, Jensen Huang, Levi Strauss, Michelle Gass, Jim Cramer's, Jim Organizations: CNBC, ., U.S, Israel . Semiconductor, Broadcom, Nvidia, Accenture, Financial Times, Amazon, Apple Intelligence, Apple, JPMorgan, Club, Constellation Brands, Modelo, Jim Cramer's Charitable Locations: Iran, Israel, Corona, Pacifico

☆ Reducto's AI tool turns PDFs and spreadsheets into data LLMs can use. We got an exclusive look at the pitch deck that landed the startup $8.4 million in seed funding.
▼ + stars: | 2024-10-02 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

Reducto raised $8.4 million in seed funding to develop AI for reading complex documents. AdvertisementLarge language models struggle to parse data in PDFs and spreadsheets, and one startup just raised a supersized seed funding round to build tech that can read these documents the way humans do. Reducto, which was founded in 2023 and a member of Y Combinator's winter 2024 batch, is announcing it raised $8.4 million in a seed funding round led by First Round Capital. One, Humata AI, raised $3.5 million from Google's Gradient Ventures a year ago, while OpenAI's ChatGPT Store showcases multiple AI PDF developers. AdvertisementCheck out the 13-slide pitch deck Reducto used to raise $8.4 million in seed funding.

Persons: Reducto, —, Y, Liquid2, Arash Ferdowsi, Andrew Ofstad, Kulveer Taggar, Zeus, JJ Fliegelman, Richard Aberman, Ralph Goottee, Tracy Young, Adit Abraham Organizations: Service, First Round, Big Tech

☆ Nvidia makes a move to take AI mainstream — plus, a positive call on Home Depot
▼ + stars: | 2024-10-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Gordon Haskett took the Club stock to buy and raised its price target to $450 per share, implying 10% upside. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Oil, Jim, Gordon Haskett, Gordon, Lamb Weston, Jim Cramer's Organizations: CNBC, Energy, Nvidia, Accenture, Microsoft, Club, Nike, Humana Locations: Israel

☆ AI's Open-Source Future
▼ + stars: | 2024-10-02 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI's Open-Source FutureHugging Face, a hub for advanced AI models, has quickly become one of tech's hottest startups, thanks to growing enterprise interest in open-source AI platforms. With a $4.5B valuation, and marquee investors including Nvidia and Google, Hugging Face Co-Founder and CEO Clem Delangue explains why he passionately believes in AI democracy and how he's pulling down the guardrails of proprietary technology so anyone, anywhere, can get the data they need.

Persons: Clem Delangue Organizations: Nvidia, Google

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