Latest news with #Eras'Tour
Time of India
11 hours ago
- Entertainment
- Time of India
Taylor Swift Bomb Plot TWIST: New Suspect Indicted in Germany
A chilling new update in the Taylor Swift 'Eras' Tour bomb plot — a fourth suspect has just been indicted in Germany, accused of helping plan the foiled attack on her Vienna concert. Court docs reveal this individual allegedly translated bomb-making instructions and made contact with ISIS. As fans recall the fear surrounding last year's cancellation, this new twist proves the threat wasn't over. WATCH for all the details on this terrifying plot twist- Read More
Yahoo
21-05-2025
- Business
- Yahoo
Meet Fidji Simo, the Instacart CEO Tasked With Getting OpenAI to Turn a Profit
Fidji Simo, OpenAI's newest senior hire, and CEO Sam Altman bonded over a mutual fixation: They hate standing meetings and love to kill them in the name of efficiency. Simo will need that waste-no-time ethos in her new role helping OpenAI prepare to go public in the coming years. In her newly created role of CEO of applications, she is charged with helping the ChatGPT maker become a profitable global business, while remaking an internal culture that has been mired in executive infighting and high-profile departures. How Two CEOs Mixed Romance and Business, Leading to Scandal Senators Question Shari Redstone Over Efforts to Reach CBS Settlement With Trump Watch Me Try Google's Live Language Translator. It's Wild. It Moved the 'Eras' Tour's Equipment. Now It's Worth Over $1 Billion. Google Takes Aim at AI Firms Challenging Its Search Dominance Altman needs Simo—an established operations and turnaround guru at Instacart, where she is currently CEO—more than ever. During a recent all-hands meeting, he suggested that when the company goes public, he would like Simo, not him, to be the one leading the earnings calls. In her newly created role, Simo, who joins this summer, will oversee all of the company's major business functions, including its product, finance and sales teams, reporting to Altman. She represents a new generation of OpenAI leadership. The startup and runaway leader in generative artificial intelligence has increased its head count more than fivefold since the 2022 launch of ChatGPT. Traffic to the chatbot has grown more than threefold to 5.1 billion monthly visits in the past year, according to Similarweb. It is also bleeding cash. OpenAI told investors last fall that it won't generate a profit until 2029, and it expects to lose $44 billion before doing so, a person familiar with the matter said. Longer term, Altman wants OpenAI to build AI-powered robots and personal devices, and operate a global network of data centers to build and run its AI models. Altman, who has roughly two dozen reports, has been looking for months to delegate more responsibility during a period of rapid growth. He ultimately plans to bring in similarly seasoned leadership to helm the company's infrastructure division, according to people familiar with his thinking. OpenAI lost two of its key executives last year—chief scientist Ilya Sutskever and technology chief Mira Murati—both of whom left to start competitors after complaining to the board about what they described as Altman's chaotic management style. Murati took more than 20 OpenAI employees with her. Simo has earned a reputation as an adept and detail-oriented manager capable of running large teams, people familiar with her work said. That is a contrast to Altman, who has been known to let problems fester and spends more time dreaming up ideas than figuring out how to execute them, according to people who have worked with him. Simo told OpenAI staff that she had wiped all group meetings from employee calendars at the grocery delivery company. That amounted to canceling roughly 100,000 hours of gatherings in the second half of last year. Altman celebrates a similar practice at OpenAI: The company systematically scraps all standing meetings once a year. Simo grew up in a small port city in the south of France, where her family had worked in the fishing industry for generations. She went to business school in Paris before moving to California to pursue a full-time job at eBay. At Facebook in the 'move fast and break things' era, she helped build its mobile advertising business before also overseeing its video and entertainment products. She was promoted in 2019 to head of the Facebook app, managing a team of over 6,000 people and reporting to CEO Mark Zuckerberg. Simo has often described how, while at Facebook, she took foreign-accent-reduction courses to mask her thick French accent and was advised to wear hoodies and jeans to better fit in with the company's culture. She rejected the advice and became known for her bold designer style. The same year that she began leading the Facebook app, Simo constantly felt faint and dizzy and was diagnosed with a neuroimmune condition called postural tachycardia syndrome. She began bringing a reclining chair into management team meetings to make sure her blood pressure didn't drop, and eventually she founded a health institute to treat complex medical conditions. Simo's product leadership caught the eye of Instacart co-founder Apoorva Mehta, who recruited her to his startup's board of directors. Simo joined the board in January 2021 and succeeded Mehta as chief executive that summer. A post-Covid return to in-person shopping had slowed Instacart's core delivery business and several top executives had exited. Simo revived talks Mehta had initiated to sell Instacart to DoorDash, code-named Project Donut, people familiar with the matter said. She discussed creating a food-inspiration app similar to Pinterest, where users could share recipes and other content. After the talks fell apart because of regulatory concerns, she readied Instacart for an initial public offering and diversified its business. Instacart hit five consecutive quarters of profitability before its 2023 market debut. Altman had previously been introduced to Simo by his friend Diane von Furstenberg, the Belgian-born fashion designer and wife of media mogul Barry Diller. After Altman's brief ouster from OpenAI in late 2023, which led to the departure of almost all of its former directors, Simo's name was floated as a potential new board member. Bret Taylor, the board chairman, had served with her on Shopify's board and approached her to become an OpenAI director. Simo began working closely with Altman after joining the board last March, and quickly became an adviser to him, including when the startup was negotiating a $40 billion fundraising deal with SoftBank, people familiar with the matter said. Altman has told associates that each of the three areas of the company—Simo's applications business, infrastructure and research—will one day become multitrillion-dollar businesses. For now, he will focus more of his attention on the latter two, leaving Simo to figure out how to get the tech world's most closely watched company to one day turn a profit. Write to Berber Jin at and Keach Hagey at Ford Poured Billions Into Two EV Battery Plants. It's Only Using Part of One. Kraft Heinz Is Evaluating Strategic Transactions Tesla Sets Record With $139 Million Pay Package for Finance Chief UnitedHealth Built a Giant. Now Its Model Is Faltering. Why Disney's 'Lilo & Stitch' Is Set to Beat 'Mission: Impossible' at the Box Office
Yahoo
21-05-2025
- Business
- Yahoo
Medtronic to Separate Diabetes Business
Medical-device maker Medtronic plans to separate its diabetes business into a stand-alone company, the company said, in a move that hives off a division that had struggled but recently returned to growth. Under Medtronic's plan, the new unnamed company will also be publicly traded, Medtronic said. The diabetes business generated nearly $2.8 billion in sales in its most recent fiscal year, ending in April, up 10.7% from the prior year. Medtronic reported more than $34 billion in sales last year. How Two CEOs Mixed Romance and Business, Leading to Scandal Senators Question Shari Redstone Over Efforts to Reach CBS Settlement With Trump Watch Me Try Google's Live Language Translator. It's Wild. It Moved the 'Eras' Tour's Equipment. Now It's Worth Over $1 Billion. Ford Poured Billions Into Two EV Battery Plants. It's Only Using Part of One. Galway, Ireland-based Medtronic, which operates out of Minneapolis, will complete the process of separation within 18 months. The transaction will allow the diabetes business to grow faster, and for Medtronic to accelerate growth of its remaining divisions, Medtronic Chief Executive Geoff Martha said in an interview. 'To realize the full potential of what we're sitting on here, it's going to need more focus than we can provide, and more investment,' he said. By getting out of diabetes, Medtronic, one of the world's largest makers of medical devices, will be free to focus on its more-profitable segments making devices for cardiovascular, neuroscience and medical surgery. 'These are higher-margin markets than the diabetes space and they better leverage our core strengths as a company,' Martha said. That includes its new PulseSelect and Affera products, which use one of the hottest technologies in the industry, that administers bursts of electricity or pulsed-field ablation, to treat irregular heartbeats in patients. It also sells Symplicity Spyral, a device to treat hypertension. Medtronic's diabetes products are sold directly to patients and consist of wearable and disposable devices. The rest of Medtronic sells more complex devices such as surgical instruments and implants commercially to physicians and hospitals. The separation caps a yearslong campaign by Medtronic to turn around its diabetes franchise since it got a warning letter from the Food and Drug Administration in 2021 regarding product safety issues for its MiniMed insulin pumps. The letter delayed the FDA's clearance of the MiniMed 780G insulin pump until 2023. The company has rolled out other new products, and this year reported the fifth consecutive quarter of double-digit growth in its diabetes division. Diabetes products include its MiniMed insulin pump, which is part of a system that automatically delivers insulin to patients based on real-time monitoring of their blood sugar levels, and pens that connect with smartphones to help patients take timely insulin injections. Among the division's devices in the works are next-generation insulin pumps and smart pens. The company also joined with Abbott in 2024 to develop a glucose sensor that will work with Medtronic's products. The new company will have 8,000 employees and be based in Northridge, Calif., where the diabetes business is located, Medtronic said. It will be led by Que Dallara, head of Medtronic's diabetes business since joining in 2022. Medtronic's shares are up more than 7% this year. Company stock has risen more than 2% in the past year. Shares were up slightly in premarket trading Wednesday. Write to Jared S. Hopkins at Google Takes Aim at AI Firms Challenging Its Search Dominance Kraft Heinz Is Evaluating Strategic Transactions Tesla Sets Record With $139 Million Pay Package for Finance Chief UnitedHealth Built a Giant. Now Its Model Is Faltering. Why Disney's 'Lilo & Stitch' Is Set to Beat 'Mission: Impossible' at the Box Office 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
Yahoo
21-05-2025
- Business
- Yahoo
Nvidia's Huang Calls U.S. Export Controls a Failure
TAIPEI—Nvidia Chief Executive Jensen Huang said U.S. export controls limiting the sale of advanced chips to China were a failure, contending they have galvanized Beijing to push ahead faster with its own artificial-intelligence technologies. Nvidia has over the past four years lost market share to Chinese competitors because of the restrictions, Huang said. How Two CEOs Mixed Romance and Business, Leading to Scandal Senators Question Shari Redstone Over Efforts to Reach CBS Settlement With Trump Watch Me Try Google's Live Language Translator. It's Wild. It Moved the 'Eras' Tour's Equipment. Now It's Worth Over $1 Billion. Ford Poured Billions Into Two EV Battery Plants. It's Only Using Part of One. 'The local companies are very talented and very determined, and the export controls give them the spirit, energy and the government support to accelerate their development,' Huang said Wednesday in Taipei, where he is attending an industry conference. The Biden administration introduced a series of measures crimping the ability of U.S. companies to sell cutting-edge chips, chip-related equipment and technologies to China over national-security concerns. The curbs have particularly affected Nvidia, the leader in chips for AI applications. Many remain in place under President Trump, and the Trump administration added a control in April on the export of an Nvidia AI chip that the company had tailored for sale in China. Nvidia said it would take a $5.5 billion charge over the issue. Huang said China was the second-largest computer market globally and would be a $50 billion AI market next year. Revenue from China, he said, could translate to tax dollars and jobs for the U.S. 'I think all along the export control was a failure,' Huang said. At the same time, he praised Trump for reversing one export-control plan that Nvidia had forcefully criticized. In the final days of the Biden administration, officials released a draft of an AI diffusion rule that would have put country caps on the sale of AI chips around the globe, not just to China. The rule was aimed at making it harder for China to access U.S. technology through third countries. The Trump administration rescinded the rule this month before it took effect. 'The goal of the AI diffusion rule as specified in the past was to limit AI diffusion. President Trump realizes that it's exactly the wrong goals,' Huang said. 'America is not the only provider of AI technology,' he said. 'If the United States wants to stay in the lead and the U.S. would like the rest of the world to build on American technology, then we would have to maximize AI diffusion, maximize the speed.' The removal of the diffusion rule has benefited both Nvidia and countries in places such as the Middle East and Southeast Asia that otherwise would have been curtailed in their ability to build large AI facilities. Days after the rule was pulled, American chip makers including Nvidia unveiled deals to sell hundreds of thousands of the most powerful chips in the United Arab Emirates, Saudi Arabia and Qatar during a visit by Trump and Huang to the region. Huang has crisscrossed the globe over the past month, trying to drum up sales of his AI processors and excitement for his vision of a future driven by AI supercomputers. He has drawn closer to governments around the globe because of the geopolitical importance of AI, standing by Trump's side in the Middle East and meeting senior Chinese officials. Write to Liza Lin at Google Takes Aim at AI Firms Challenging Its Search Dominance Kraft Heinz Is Evaluating Strategic Transactions Tesla Sets Record With $139 Million Pay Package for Finance Chief UnitedHealth Built a Giant. Now Its Model Is Faltering. Why Disney's 'Lilo & Stitch' Is Set to Beat 'Mission: Impossible' at the Box Office 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
