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Elon Musk is on a mission to build a new supercomputer. as CEO Tesla The tech mogul and his new artificial intelligence startup, xAI, have big plans for how artificial intelligence can help enhance his business.In January, he wrote on X that Tesla should be considered an AI/robotics company rather than a car company. Tesla’s customized supercomputer Dojo is key to this transformation. Tesla said it plans to spend $500 million to build a supercomputer in Buffalo, New York. Tesla is also building another supercomputer cluster called Cortex at the company’s headquarters in Austin, Texas.Dojo will use the vast amounts…

UK Finance Minister Rachel Reeves pledged to make “necessary”, “urgent” and “extremely difficult” choices to restore the country’s economic stability.Pool | Getty Images News | Getty ImagesFinance minister Rachel Reeves will pledge on Monday that Britain will not return to “austerity” or widespread spending cuts in a budget aimed at shoring up the economy’s foundations, despite previous warnings.In his first budget on October 30 after Labor won the general election in July, Reeves said taxes were likely to rise due to a £22 billion ($29 billion) shortfall in public finances.She also announced that millions of pensioners would no longer receive…

Ted Colbert, former CEO of Boeing’s defense, space and security division, speaks during a news conference in Dubai on November 16, 2019.Karim Sahib | AFP | Getty Imageshead boeing companyChief Executive Kelly Ortberg said defense unit Ted Colbert will leave the company immediately, marking the first major executive change since he took over in early August.”At this critical time, our top priority is to restore the trust of our customers and meet the high standards they expect from us to help them complete their critical missions around the world,” Ortberg said in a staff memo on Friday. “Working together, we…

Italian Prime Minister Mario Draghi held a press conference at the Prime Minister’s Multipurpose Hall in Rome, Italy on July 12, 2022.Massimo Di Vita | Massimo Di Vita Mondadori Portfolio | Getty ImagesA report by economist and politician Mario Draghi says the EU needs up to 800 billion euros ($884 billion) in additional investment annually to achieve its key competitiveness and climate goals.The report points out that the EU’s goals of greater geopolitical relevance, social equality and decarbonization are threatened by weak economic growth and productivity compared with the United States and China.The wide-ranging study, led by Draghi, who served…

Alphabet’s self-driving car unit, Waymo, is finally entering its high-speed development phase. After years of heavy investment and losses, Waymo’s ridership is rebounding in its existing West Coast markets, and the company just signed an expanded partnership with Uber to bring its robotaxi service to the ride-hailing giant’s Texas-based Apps for Atlanta and Austin, ST. Waymo and Uber are already partners in Phoenix. The ridership growth and deeper ties with Uber are important milestones for Waymo and its parent company, which has poured billions of dollars into the venture but appears to have received little return for investors. The timing…

European Central Bank President Christine Lagarde at a meeting of the European Central Bank and its observers in Frankfurt, Germany, March 20, 2024. Bloomberg | Bloomberg | Getty ImagesFRANKFURT – The European Central Bank will cut interest rates by another quarter point on Thursday, just days before the Federal Reserve begins its rate-cutting cycle.Traders widely expect the Federal Reserve to cut interest rates at its meeting on September 17-18 and the European Central Bank’s meeting this week.”Thursday’s rate cut should be largely non-controversial,” Holger Schmieding, chief economist at Berenberg Bank, told CNBC in an email to clients.”Almost all recent ECB…

On September 13, 2024, in Renton, Washington, USA, workers at the Boeing plant gathered on a picket line near the entrance to the production facility on the first day of the strike. Matt Mills McKnight | Matt Mills McKnight ReutersRenton, Wash. — Cash shortage boeing company Machinists continue to go on strike as workers demand higher wages, leading to rising costs. The cost of failing to reach a deal could be even higher.In the shadow of a factory outside Seattle where the company builds its best-selling planes, Boeing mechanics on picket lines told CNBC they have saved money and have…

Federal Reserve Governor Christopher Waller on Friday backed a rate cut at the central bank’s upcoming policy meeting in less than two weeks and said he would be willing to cut rates significantly if necessary.”Given the continued progress on inflation and the labor market slowdown, I believe now is the time to lower the target range for the federal funds rate at our upcoming meeting,” Waller said in remarks prepared for the Council on Foreign Relations. “New York.Other policymakers have recently argued for easing policy sooner, but this was one of the clearest signs at the September 17-18 Federal Open…

On May 6, 2024, SpaceX and Tesla CEO and X owner Elon Musk attended the Milken Conference 2024 Global Conference held at the Beverly Hilton Hotel in Beverly Hills, California, USA. David Swanson | ReutersThe U.S. Securities and Exchange Commission has asked a federal judge to sanction Musk if he continues to violate court orders by testifying in an investigation into his 2022 acquisition of Twitter.The U.S. Securities and Exchange Commission (SEC) has been investigating whether Musk or others who worked with him committed securities fraud in 2022 Tesla Prior to the leveraged buyout of the company, now known as…

Oscar Yellow | Moment | Getty ImagesCompanies could face huge fines or even have their services suspended in the European Union under tough new cybersecurity regulations that come into effect next month.The EU’s NIS 2 cybersecurity directive will be enforced by member states on October 17. This means companies must ensure their operations comply with their obligations under the new law.These rules impose stricter requirements on a company’s internal network resiliency policies and internal practices.CNBC has a comprehensive look at everything you need to know about NIS 2—from the legal requirements to the potential penalties businesses could face for noncompliance.What…