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Police detain six outside Palantir office at protest over deportations, military work
CNBC· 2025-06-26 16:41
A woman walking past the logo of U.S. big data analytics software company Palantir Technologies during the World Economic Forum annual meeting in Davos, Switzerland.Six people were taken into custody by police on Thursday as a group blocked the entrance to the New York office of Palantir to protest the tech company's work for the U.S. Immigration and Customs Enforcement agency, the Israeli military and other efforts.More than 30 people participated in the protest, according to Planet Over Profit, the group ...
Trump now wields sweeping veto power over U.S. Steel. Here's how the 'golden share' works
CNBC· 2025-06-26 15:12
U.S. President Donald Trump walks as workers react at U.S. Steel Corporation–Irvin Works in West Mifflin, Pennsylvania, U.S., May 30, 2025.President Donald Trump now personally holds sweeping veto power over U.S. Steel's decisions in key areas, according to an amended corporate charter filed with the Securities and Exchange Commission.U.S. Steel says Trump holds what the White House calls a "golden share" in the Pittsburgh-based company. The amended charter, however, does not reference future presidents. In ...
China's Xiaomi undercuts Tesla with yet another cheaper car
CNBC· 2025-06-26 13:54
People check out an electric SUV Xiaomi YU7 at a Xiaomi Store in Hangzhou in east China's Zhejiang province Thursday, June 26, 2025.BEIJING — Chinese smartphone company Xiaomi is taking aim straight at rival Tesla with a new electric SUV.Xiaomi's luxury YU7 SUV will start at 253,500 yuan ($35,322), CEO Lei Jun said Thursday, pointing out that the vehicle is 10,000 yuan cheaper than Tesla's Model Y, which starts at 263,500 yuan in China.Prior to the official price announcement, a Citi report had listed expec ...
AI is doing 30%-50% of the work at Salesforce, CEO Marc Benioff says
CNBC· 2025-06-26 13:49
Marc Benioff, Chairman & CEO of Salesforce, speaking on CNBC's Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2025.Salesforce is accelerating its use of artificial intelligence in automating workloads, according to CEO Marc Benioff."All of us have to get our head around this idea that AI could do things, that before, we were doing, and we can move on to do higher value work," he said in an interview with Bloomberg's Emily Chang, noting that the technology currently accounts ...
Pixar's 'Elio' is emblematic of a bigger headwind for Hollywood
CNBC· 2025-06-26 12:48
In this articleDISA still from Disney and Pixar's animated film "Elio."DisneyDisney's Pixar animation studio had its worst opening ever over the weekend — and its problems aren't unique."Elio," the story of a young boy who is mistakenly identified as Earth's ambassador to the universe, tallied just $21 million in ticket sales during its first three days in theaters, a record low for the studio.The underwhelming performance fits a recent pattern among Pixar's releases. While franchise films have lured in mov ...
PayPal teams up with the Big Ten and Big 12 to enable payments to student-athletes
CNBC· 2025-06-26 11:55
Core Insights - PayPal has entered into a partnership with the Big Ten and Big 12 conferences to facilitate compensation for student-athletes through its platform [1][3] - This agreement follows a significant court settlement in the House v. NCAA case, which allows schools to compensate student-athletes for the first time, enabling up to $20.5 million in payments to current athletes and $2.8 billion to former players [2] Group 1: Partnership Details - The new agreement allows Big Ten and Big 12 athletic departments to use PayPal exclusively for distributing payments to student-athletes [3] - The initial rollout of this payment system is expected to begin in the summer, coinciding with the effective date of the House settlement on July 1 [3] Group 2: Payment Features - The partnership will enable students at Big Ten and Big 12 universities to receive their compensation quickly and securely, with the option to pay college tuition via PayPal [4] - PayPal aims to become a preferred payment partner at select schools, enhancing the financial experience for student-athletes [4] Group 3: Venmo's Role - PayPal's mobile payment service Venmo is expanding its involvement in college sports, becoming the presenting partner for the first-ever Big Ten Rivalry Series and the official partner of the Big 12 Conference [5][6] - Venmo will also facilitate transactions at college bookstores and for campus athletics, covering items such as tickets, concessions, and merchandise [6] Group 4: Conference Expansion - The Big Ten Conference has expanded to 18 schools, including notable institutions like the University of Maryland and Ohio State University [7] - The Big 12 Conference comprises 16 schools, including Arizona State University and the University of Central Florida [7]
'Cyber plague': Experts warn of growing infostealer threat after billions of login details exposed
CNBC· 2025-06-26 02:56
Group 1 - Cybercriminals have intensified efforts to steal and sell online passwords, with billions of exposed account credentials discovered [1][2] - A total of 30 datasets containing approximately 16 billion login credentials from platforms like Apple, Google, and Facebook have been reported [2] - The leaked login information is believed to be the result of "infostealers," a type of malware that extracts sensitive data from devices [3] Group 2 - The overwhelming volume of exposed data highlights the significant amount of sensitive information circulating on the web, raising concerns about the prevalence of infostealers [4] - Many of the login lists may contain duplicates and outdated information, yet the scale of the leaks is unprecedented this year [4] - Security Discovery has detected these data leaks due to the temporary indexing of exposed data on the web without password protection [4]
Asian chip stocks rise after Nvidia reclaims title of the world's most valuable company
CNBC· 2025-06-26 02:25
Group 1 - Chip stocks in Asia experienced a rise following Nvidia's record share close, reclaiming its title as the world's most valuable company with a market value of $3.77 trillion, surpassing Microsoft [1][4] - South Korea's SK Hynix saw a 3.53% increase in shares, while TSMC's shares rose by 0.47%. Foxconn also reported a 0.77% increase due to its strategic partnership with Nvidia [2] - Several Japanese chip stocks not directly linked to Nvidia also saw significant gains, with Advantest rising 3.93% to a record high and Softbank increasing by 4.38% [3] Group 2 - Nvidia's shares climbed over 4% to close at $154.31, marking a new all-time high since January, reflecting strong investor confidence in its dominance in artificial intelligence [3][4] - Despite facing export restrictions to China, Nvidia's growth trajectory remains strong, although it anticipates an $8 billion hit to sales and a $4.5 billion inventory write-down due to new regulations blocking sales of its H20 AI chip [5]
Meta wins AI copyright case, but judge says others could bring lawsuits
CNBC· 2025-06-26 00:13
Core Viewpoint - Meta has won a significant copyright case regarding its Llama AI model, with the judge ruling that the company's use of books for training is protected under the fair use doctrine of U.S. copyright law, although the ruling is limited to this specific case [2][4][5]. Group 1: Legal Ruling and Implications - U.S. District Judge Vince Chhabria sided with Meta, stating that the plaintiffs failed to demonstrate that Meta's use of books caused market harm [2][3]. - The judge acknowledged that while it is generally illegal to copy protected works without permission, the plaintiffs did not present a compelling argument against Meta's practices [3][4]. - Chhabria emphasized that the ruling does not imply that Meta's use of copyrighted materials is lawful in all cases, leaving the possibility for other authors to pursue similar lawsuits [6]. Group 2: Meta's Position and Industry Context - A Meta spokesperson expressed appreciation for the court's decision, highlighting the importance of fair use in fostering innovation in open-source AI models [5]. - The judge noted flaws in Meta's defense, particularly the argument that prohibiting the use of copyrighted text would hinder the development of generative AI technologies, which he dismissed as "nonsense" [6]. - The ruling comes in the context of other ongoing legal challenges in the AI industry, as seen with Anthropic's case regarding the use of pirated books for training its AI model [6].
Asana picks Dan Rogers, formerly of ServiceNow, to replace CEO Dustin Moskovitz
CNBC· 2025-06-25 21:08
Lisbon , Portugal - 12 November 2024; Dan Rogers, CEO, LaunchDarkly, on SaaS Summit stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal.Collaboration software maker Asana said Wednesday it has chosen former Rubrik and ServiceNow executive Dan Rogers to be its new CEO, replacing co-founder Dustin Moskovitz.Rogers will start at San Francisco-based Asana on July 21, the company announced. Rogers will leave his post as CEO of LaunchDarkly, a startup with software for carefully releasing ...