Author: Advanced AI Editor
Tesla (NASDAQ: TSLA) is being called “the biggest meme stock we’ve ever seen” by Yale School of Management Senior Associate Dean Jeff Sonnenfeld, who made the comments in a recent interview with CNBC. Sonnenfeld’s comments echo those of many of the company’s skeptics, who argue that its price-to-earnings ratio is far too high when compared to other companies also in the tech industry. Tesla is often compared to companies like Apple, Nvidia, and Microsoft when these types of discussions come up. Fundamentally, yes, Tesla does trade at a P/E level that is significantly above that of any comparable company. However, it…
Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Dive Insight: Tasked with reviving the store footprint of the Bed Bath & Beyond Inc. portfolio, The Brand House Collective saw second quarter net sales drop 12% year over year to $75.8 million. The decline was driven by a 9.7% dip in consolidated comps and a “decline in store count of approximately 5%,” with five locations closing in the period. More closures of the current footprint could follow, with Sullivan anticipating about 250 to 275 of the existing Kirkland’s fleet…
OpenAI revealed a system that would be equipped with age-prediction technology that would restrict the accessibility of the regular version of the AI chatbot for users under 18. The company’s initiative is based on new research and comes after a legal case against it. OpenAI’s ChatGPT has revealed a teen versionOpenAI’s chatbot is coming up with a “different ChatGPT experience” for users under the age of 18. OpenAI revealed a system that would be equipped with age-prediction technology that would restrict the accessibility of the regular version of the AI chatbot for users under 18. The company’s initiative is based…
On Guido Reichstadter’s 17th day without eating, he said he was feeling alright — moving a little slower, but alright.Each day since September 2nd, Reichstadtler has appeared outside the San Francisco headquarters of AI startup Anthropic, standing from around 11AM to 5PM. His chalkboard sign states “Hunger Strike: Day 15,” though he actually stopped eating on August 31st. The sign calls for Anthropic to “stop the race to artificial general intelligence” or AGI: the concept of an AI system that equals or surpasses human cognitive abilities.AGI is a favorite rallying cry of tech CEOs, with leaders at big companies and…
Listen to the article 4 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Gap Inc. announced a slate of hires Wednesday that underscores the ambitions in beauty and accessories that CEO Richard Dickson outlined a couple of weeks ago. Effective immediately, former Nordstrom beauty merchant Deb Redmond is Gap Inc. general manager of beauty, reporting to Chief Business and Strategy Officer Eric Chan. John Demsey, a former Estée Lauder executive who helped scale brands like Tom Ford Beauty and MAC Cosmetics, will advise as executive director of beauty. Michele Parsons, once a merchant…
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. U.S. consumers kept buying discretionary goods in August — as they have all year — but signs indicate they’ll be tough customers at the holidays. Last month, retail sales rose 5.5% in the segments covered by Retail Dive, fueled in part by back-to-school shopping. Electronics sales rose 2.6%; sporting goods 4.4%; and apparel soared 7.6%. Even home goods sales rose nearly 3%. Some of that was likely early spending that could lower next month’s results, according to Fitch Ratings Senior Director David…
The deployment and use of AI agents is growing incredibly quickly, according to Salesforce.gettySince January the use of AI agents for customer service tasks has exploded by a compound annual growth rate of 2,199%, according to a new report by Salesforce. The number of agents available has more than doubled in the same time span, and now 94% of customers opt to speak to AI agents when given the option.“The agentic enterprise is going to happen,” Salesforce chief digital officer Joe Inzerillo told me earlier this week. “We’re starting to hit a tipping point where people assume that they’re competent.”AI…
Key PointsThe Coca-Cola Company has joined the MIT Generative AI Impact Consortium to assist in solving global challenges, beginning with saving the orange industry.The consortium’s first project, “Save the Orange,” employs generative AI to combat citrus greening, a disease that has decreased Florida’s orange harvest by 30% and cut U.S. orange production by more than half since 2015.By speeding up research timelines from years to months, the initiative aims to safeguard the world’s orange supply, which could vanish within 25 years without intervention.The Coca-Cola Company is collaborating with MIT scientists to help preserve the orange for everyone. And if they…
As speed becomes the defining currency in an AI-driven software world, Blacksmith has raised another round led by Google Ventures — just four months after its seed — to accelerate how code gets shipped. The $10 million Series A closed in just 14 days, with Google Ventures doubling down after first backing Blacksmith’s $3.5 million seed in May. At the time, Alphabet’s VC arm bet on the size of the market and the founding team, which included veterans of Cockroach Labs, another GV portfolio company. But for this round, GV was swayed by results. Blacksmith, which offers a continuous integration…
Side-by-side comparison in the lawsuit showing Disney’s copyrighted Iron Man character and Minimax’s output with Hailuo AI. Disney, Universal, and Warner Bros Discovery have jointly filed a lawsuit against popular Chinese video generator Hailuo AI, over what they claim is “wilful and brazen” copyright infringement. Disney, Universal, and Warner Bros Discovery sued Chinese AI firm MiniMax in the U.S. District Court for the Central District of California on Tuesday. MiniMax owns Hailuo AI, a video generation tool that promotes itself as a “Hollywood studio in your pocket,” according to a report by Reuters. The studios allege that MiniMax ignored U.S.…