Singapore's AI Push Charts Path Toward Localized Models
Shein reprimand: The EU has told the Singapore-based ecommerce firm it could face fines unless it clamps down on consumer law violations on its platform.
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A Sun Valley veteran gives a glimpse into the business world's most exclusive conference
The annual Allen & Co. Sun Valley conference took place this week. The summit brought together executives from all corners of the business world. We caught up with Flowcode CEO Tim Armstrong to discuss. For 16 summers in a row, Tim Armstrong has flown to Sun Valley, Idaho, following the July 4th holiday to attend the annual Allen & Co. Conference. The event brings together some of the most powerful and wealthiest leaders in media, technology, and finance. The longtime tech and advertising executive brokered one of the most famous deals to come out of the summit — the $4.4 billion sale of AOL to Verizon, which began over a casual lunch in 2014. Armstrong is now the CEO of Flowcode, a platform he founded that uses QR codes to fuel customer engagement. Business Insider caught up with Armstrong to discuss some of the hot topics of this year's conference, which kicked off on Tuesday. Artificial intelligence, unsurprisingly, was top of mind for attendees. It was the "1,000-pound gorilla" in "every conversation, every meeting," Armstrong said. "It used to be about media and technology, media and the internet," he said. "There's a third leg of the stool now: media, the internet, and AI." AI is being adopted at a much faster pace than the internet was, he said, and executives and investors swapped ideas about how to best implement the technology. Armstrong, for example, has enforced "TuesdAIs" at Flowcode. On Tuesdays, each department must focus on the technology by implementing new tools and updating processes to incorporate AI. It's "time to paddle out to the next wave," he said. "Paddle hard." Among the media set, sports dominated conversation. It's the "place that can still collect humans together in big audiences for live events," Armstrong said, adding that a similar takeaway had emerged from Cannes earlier this summer. The conference drew attendees from all over the sports world, including the NBA, NFL, and MLB commissioners, team owners like Robert Kraft and Jimmy Haslam, and entrepreneurs like Jeb Terry of venue operator Cosm. Armstrong ended the conference with a somewhat extreme sport of his own: bridge jumping in one of Idaho's many swimming holes. Read the original article on Business Insider Sign in to access your portfolio
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35 minutes ago
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Slovakia aims for agreement by Tuesday on end of Russian gas supplies, sanctions
PRAGUE (Reuters) -Slovakia aims to reach an agreement with the European Commission and EU partners by Tuesday on guarantees it will not suffer from the end of Russian gas supplies and on a new sanctions package against Russia, Prime Minister Robert Fico said on Saturday. Slovakia has been blocking the EU's 18th sanctions package over its disagreement with a separate Commission proposal to end all imports of Russian gas from 2028, which Slovakia argues could cause shortages, a rise in prices and transit fees, and lead to damage claims from Russian supplier Gazprom. "We need to win something in this fight, though it will not be a 100-0 result," Fico said. "We want political commitments, guarantees from partners and the Commission that this problem will not remain only on Slovakia's back." Fico said it was not clear at this point if a deal would be reached as some issues were still outstanding. Fico said one topic under discussion was capping the transit fees that Slovakia would have to pay for alternative routes for non-Russian gas. Slovakia gets the majority of its gas from Gazprom under a long-term deal valid until 2034 for about 3.5 billion cubic metres of gas per year. Since Ukraine stopped Russian gas from transiting through its pipelines at the end of 2024, Slovakia has taken some gas through the Turkstream pipeline and Hungary. The Commission's proposal to end Russian energy imports from 2028 requires the backing of the majority of EU states, but not unanimity. However, sanctions against Russia need unanimity, therefore Slovakia merged the two issues and has refused to back the sanctions package until its concerns over energy are satisfied. The European Commission on June 10 proposed a new round of sanctions over Russia's invasion of Ukraine more than three years ago, targeting Moscow's energy revenues, banks and military industry. The sanctions package -- which in itself is not a problem for Slovakia, Fico said -- could be approved by the EU's foreign ministers on Tuesday if Slovakia lifts its opposition. Fico said he discussed Slovakia's concerns with Polish Prime Minister Donald Tusk on Friday and German Chancellor Friedrich Merz on Saturday, but did not give details.
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This Artificial Intelligence (AI) Stock Just Hit a New High -- and It's Still a Buy
Nvidia stock has rebounded from its slump earlier this year, hitting a record high on Friday. The company has cornered the data center GPU market and is the gold standard for AI processing. Nvidia stock remains attractively priced, especially when considered in light of its market-beating growth. 10 stocks we like better than Nvidia › Artificial intelligence (AI) is widely recognized as a game-changing technology, and the number of potential applications grows with each passing day. While it might seem like these advanced algorithms are everywhere, the truth is that it's still early days for the adoption of AI, which some experts contend currently stands at less than 1%. This suggests the proliferation of AI is far from over, and the opportunity ahead remains vast. Arguably, one of the biggest beneficiaries of the advent of AI has been Nvidia (NASDAQ: NVDA). The company invented the graphics processing units (GPUs) that facilitate this groundbreaking technology, and its chips are the top choice for AI processing. The impact has been undeniable, as the stock has gained 950% over the past three years (as of this writing), hitting a new all-time high midday on Friday. Let's take a step back and look at the opportunity, what Nvidia brings to the table, and why the stock is still a buy. Gamers have long hailed Nvidia's graphics cards as best-in-breed and the introduction of the GPU in 1999 revolutionized the gaming industry. What set its chips apart was parallel processing, or the ability to conduct a multitude of complex mathematical calculations simultaneously by allocating processing resources across the breadth of the chips' multiple cores. This turned the standard wisdom on its head, creating lifelike images in video games. Noted AI researcher and adjunct professor of AI at Stanford University, Andrew Ng, published a revolutionary research paper in 2009 that detailed the potential application of GPUs in machine learning, an earlier branch of AI. Word spread quickly, and these chips became the gold standard for processing these early, yet cutting-edge, algorithms, controlling 95% of the GPU market for machine learning. This early dominance of the market positioned Nvidia for the AI advancements to come. When generative AI made a splash back in early 2023, it was only natural that data scientists and researchers would turn to GPUs to facilitate the latest advancements in AI. The magnitude of the processing involved means that most generative AI takes place in data centers and the cloud, and Nvidia dominates the space, controlling an estimated 92% of the data center GPU market, according to IoT Analytics. The demand for data centers is experiencing explosive growth, and that trend is expected to continue over the coming decade. Data center spending is expected to balloon from $392 billion in 2025 to nearly $1.7 trillion by 2035, according to Cube Research. Given the ongoing data center buildout and Nvidia's dominant position as the de facto standard for AI processing, the company is well positioned for an AI-centric future. In recent months, all eyes have been on Nvidia's decelerating growth rate. However, it was unreasonable to expect the company to continue its triple-digit year-over-year run indefinitely, and Nvidia's current growth still runs circles around the competition. During its fiscal 2026 first quarter (ended April 27), the company generated record revenue of $44.1 billion, which soared 69% year over year. Adjusted earnings per share (EPS) of $0.81 jumped 33% -- and that was even after a $4.5 billion charge for the H20 chips developed for the Chinese market that were subject to Trump administration export controls. If not for that one-time charge, EPS would have surged 57%. Nvidia is forecasting continued robust growth. For its fiscal 2026 second quarter, the company is guiding for record revenue of $45 billion, which would represent growth of 50%. So while the days of Nvidia's triple-digit year-over-year growth may be in the rearview mirror, the company's growth is remarkable nonetheless. Given that Nvidia has recently hit a new all-time high, it's reasonable for investors to wonder if it's gotten too expensive, but the answer might be surprising. Nvidia stock is selling for roughly 38 times forward earnings as of this writing. While that's certainly a premium, consider this: Over the past five years, Nvidia has grown its revenue by more than 1,000% and its EPS by 2,940%. This has fueled stock price gains of 1,470%, which helps illustrate why a premium is justified. Furthermore, when measured using the price/earnings-to-growth ratio (PEG ratio), which factors in the company's impressive growth, Nvidia has a multiple of 0.66; any number less than 1 is the standard for an undervalued stock. The popular narrative has long been that the competition for Nvidia is ramping up, but thus far, no significant rival to its industry-leading processor has emerged. And despite the excitement, generative AI is still in its infancy, and most experts conclude that the adoption of AI will continue for at least the next decade. No one knows for sure how big the AI market will ultimately be, but even more conservative estimates are informative. The generative AI market is projected to grow to $4.8 trillion by 2033, according to the United Nations Conference on Trade and Development. Given Nvidia's dominant market position, wide adoption, attractive valuation, and the sheer magnitude of the opportunity, it's clear the company still has a long runway for growth ahead. That's why Nvidia stock is still a buy. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,854!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of July 7, 2025 Danny Vena has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. This Artificial Intelligence (AI) Stock Just Hit a New High -- and It's Still a Buy was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
