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Can generative AI designed for the enterprise (e.g. AI that completes reports, spreadsheet formulas, etc.) be interoperable? Along with a group of organizations including Cloudera and Intel, the Linux Foundation — the nonprofit that supports and maintains a growing number of open source efforts — aims to find out. The Linux Foundation today announced the launch of the Open Platform for Enterprise AI (OPEA), a project to advance the development of open, multi-vendor, composable (i.e. modular) generative AI systems. Under the direction of the Linux Foundation's LFAI and Data org, which focuses on platform initiatives related to AI and data,…
For Mary Ellen Stanek, co-head of investing at Baird Advisors, success in fixed income isn't about making big profits. Instead, it's important to have a “really high batting average,” the 45-year-old industry veteran told CNBC. “We don't think this is an asset class where you're typically paid to take home gains,” she said. “If you think about those big home run hitters, they also often have very high strikeout percentages — that's the thing we're trying to avoid.” Instead, Stanek strives for consistency. It follows a duration-neutral approach, setting duration equal to the index followed by each fund. The team…
Striking UAW members picket GM's Lansing Delta plant in Delta Township, Michigan, on September 29, 2023.Rebecca Cook | ReutersDETROIT — Six Republican governors on Tuesday condemned the United Auto Workers' campaign to organize auto plants in the South, warning that the union's efforts could lead to layoffs and reduce future investment.The joint statement — signed by the governors of Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas — comes one day before Volkswagen workers in Chattanooga, Tennessee, begin voting on whether to join the UAW.VW's vote is part of an unprecedented labor organizing campaign announced by UAW President Sean Fine…
Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day closed-door meeting of the Federal Open Market Committee on the Federal Reserve's interest rate policy in Washington, D.C., on December 13, 2023.Kevin Lamarque | ReutersFederal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy, while strong, has not seen inflation return to the central bank's target, signaling the possibility of interest rate cuts anytime soon.Speaking at a policy forum focused on economic relations between the United States and Canada, Powell said that while inflation continues to decline, it has not moved quickly enough, and the current…
Stay informed with free updatesSimply sign up for the myFT AI Digest – delivered straight to your inbox.Andreessen Horowitz has raised $7.2 billion to invest in technology startups, including those at the forefront of the generative artificial intelligence revolution, in one of the largest fundraising efforts by a venture capital firm in years.The Silicon Valley-based group, led by veteran tech investors Marc Andreessen and Ben Horowitz, announced Tuesday that it has raised money to split across a number of new funds.The move bucks the trend at venture capital firms, which have struggled in recent years to raise money from their…
Washington – Supreme Court Justice Clarence Thomas returned to the bench after an unexcused one-day absence.Thomas, 75, was in his usual seat, to the right of Chief Justice John Roberts, as the court met to hear arguments in a case related to the Jan. 6, 2021, Capitol riot.Thomas ignored calls from some progressive groups to recuse himself from issues related to Jan. 6 because his wife, Jenny, attended then-President Trump's rally near the White House before protesters descended on the Capitol. Jenny Thomas, a conservative activist, also sent text messages to senior Trump administration officials in the weeks after the…
A 2.8-magnitude earthquake was reported Tuesday at 8:19 a.m. PT in the View Park-Windsor Hills neighborhood of Los Angeles, according to the U.S. Geological Survey.The epicenter was 7.1 miles below the intersection of Overland Drive and Northridge Drive, near Windsor Hills Elementary School. .In the past 10 days, there have been no earthquakes of magnitude 3.0 or greater at a nearby epicenter.An average of 59 earthquakes of magnitude between 2.0 and 3.0 occur annually in the greater Los Angeles area, according to a recent three-year data sample.Did you feel this earthquake? Consider reporting how you felt to the USGS.Are you…
American bank On Tuesday, it reported first-quarter earnings that beat analysts' estimates for earnings and revenue thanks to better-than-expected interest income and investment banking.Here is what the company said:Earnings: 83 cents per share, adjusted, vs. 76 cents expected, according to LSEG Revenue: $25.98 billion, vs. $25.46 billion expectedThe bank said profits fell 18% to $6.67 billion, or 76 cents per share. Excluding an FDIC valuation of $700 million, profit was 83 cents per share. Revenue fell 1.6% to $25.98 billion with net interest income lower than the previous year.Net interest income, or the difference between what the company earns on…