🗞️ OpenAI launches Google competitor

November 01, 2024   |   Listen Online   |   Read Online Brought to you by: Top stories today: OpenAI introduces web search on ChatGPT to fight Google, Perplexity Apple's revenue +6% YoY to $94.9B, but net income -36% to $14.7B AWS, e-commerce, ad growth boost Amazon revenue in Q3 Intel stock jumps as Q4 projections fuel optimism Friday's jobs report expected to show 106K new jobs Follow us on X | Instagram | Advertise 2024 election forecast provided by our partners at Polymarket. 0. Data and calendar All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. Listen to our AI-generated podcast summarizing today's newsletter (beware the few hallucinations): Bay Area Times Daily - Nov. 1, 2024 ►   Play Online 1. OpenAI introduces web search on ChatGPT to fight Google, Perplexity ChatGPT. ChatGPT Search is the finalized version of the SearchGPT prototype released in Jul. ChatGPT Plus, Team, and SearchGPT waitlist users get early access; Enterprise and Edu to follow in weeks. "In the coming months": free users will get the experience. U.S. election queries will be directed to news sources, including AP and Reuters. Google already has AI Overviews as a contender against ChatGPT's search experience. Relatedly, Sam Altman indicated GPT-5 wouldn't launch this year due to compute limitations Reddit: AMA session with the OpenAI team. 2. Apple's revenue +6% YoY to $94.9B, but net income -36% to $14.7B over EU's tax penalty $10.2B one-time EU tax charge recorded by Apple, impacting net income. +6% in iPhone revenue to $46.2B from $43.8B a year earlier. iPhone represented 49% of Apple's overall sales. +12% in services revenue to $25B from 22.3B a year ago. Apple's China growth remains negative, but shows signs of improvement Bloomberg, company filings. -0.3% in sales from China to $15.03B, vs. $15.08B a year ago. Chinese players including Vivo gained ground while Apple suffered. Apple's stock was -2% to $221.75 ($3.43T market cap) in trading after the bell on weak guidance MarketWatch: Apple stock. Guidance of "low-to-middle single digits," Apple predicted, vs. analysts' estimates of 7%. 3. Meet the Tiny Hearing Device That Outsmarts the Noise!* hear.com Forget everything you thought you knew about hearing aids. These aren't just smarter – they're practically genius! Meet the latest in hearing technology, designed to enhance every moment of your life. Imagine hearing natural sound all around you – whether you're in a bustling café or a quiet park. With advanced directional microphones, these hearing aids pinpoint the sounds you want to hear and soften the ones you don't. Background noise? Consider it managed. And let's talk about style – because who says hearing aids can't be sleek? These tiny powerhouses are nearly invisible and come with a rechargeable battery that lasts all day. No more fumbling with tiny batteries or missing out because you forgot a spare. Control everything with a tap on your phone. Adjust settings, switch modes, and even take calls directly through your hearing aids. It's like having your audio assistant. Over 400,000 happy customers can't be wrong – they're loving a new world of effortless hearing. Isn't it time you heard what all the fuss is about? Learn More *Sponsored. 4. AWS, e-commerce, ad growth boost Amazon revenue in Q3 Amazon. +11% YoY in revenue to $158.9B from $143B a year ago, vs. $157.3B expected. +19% in sales reported by AWS to $27.5B. AWS's growth is still slower than competitors' (Microsoft's Azure and Alphabet's Google Cloud). +49% in AWS operating income to $10.4B. +12% in sales from Amazon's international business to $35.9B. CAPEX was +81% to $22.62B, from $12.48B a year ago, as AI moves demand capital. CAPEX has been high and increasing at most tech giants, who are investing heavily in AI WSJ. Amazon's Q3 net income was +55% to $15.3B Amazon. Amazon's stock was +6% to $197.50 ($2.02T market cap) in after-hours trading on better-than-expected results MarketWatch: Amazon stock. 5. Intel stock jumps as Q4 projections fuel optimism Intel. Median guidance of $13.8B above the $13.6B Wall Street projected. $0.12 EPS guided, vs. estimates of $0.06. Intel's stock was +7% to $23.01 ($95.35B market cap) in after-hours trading on the optimistic projections MarketWatch: Intel stock. The positive projections come despite revenue being -7% to $13.3B and an operating result of -$2.4B Intel. -28pp in gross margin to 18%. Intel faces tough competition from NVIDIA and others amid growing AI chip demand. 6. Friday's jobs report expected to show 106K new jobs, lowest since 2020 Bloomberg. Nonfarm payrolls: exp. 106K in Oct., from 254K in Sep. Average hourly earnings: exp. 0.3% MoM / 4.0% YoY, from 0.4% / 4.0%. Unemployment rate: exp. 4.1%, steady from last month. 7. Google Maps adds Gemini for AI reviews and location search Google. Ask Google Maps questions about places you want to visit. This week, Android and iOS users in the U.S. will get the update. Immersive View expanded to 150 cities. 8. Global smartphone shipments +2%, revenues +10% as Average Selling Prices increased Counterpoint. Samsung continued its market leadership in Q3 with a 19% share. Apple and Xiaomi followed the South Korean giant. 307M smartphones were shipped in Q3. Global ASP saw its highest-ever value of $349 Counterpoint. Apple led on the revenue and ASP fronts. Ultra-premium (>$800) saw +1% growth, while the >$400 segment was +2% in Q3 Counterpoint. 9. Mid-market PE deals in U.S. see value realization, while larger sizes experience margin erosion PitchBook. 4% value boost from profit margin gains in $150M–$500M equity deals. -6% margin expansion in $1B+ deals. In Europe, larger deals are more likely to derive value from margin improvements PitchBook. $500M-$1B equity deals saw 10% value creation from margin expansion. 10. Interesting videos, posts, and memes Ep19. State of Venture, AI Scaling, Elections | BG2 w/ Bill Gurley, Brad Gerstner, & Jamin Ball No Priors Ep. 88 | With Founder & CEO of Kalshi Tarek Mansour You Don't Have To Be A Billionaire To Launch Satellites Can We Detect a Deepfake? 11. Other headlines AI Anthropic's Claude gets apps for Mac, Windows desktops. Meta working with Wonik, GelSight to commercialize AI tactile sensors. Chinese researchers adapt Meta's Llama to build AI model for military: report. Insider, Turkish startup offering AI-powered business tools, raises $500M. Software Engineer or Architect? Hire Both!* *Sponsored. Tech Waymo valued at $45B+ in latest funding. Call of Duty Black Ops 6 sales reach 500M. Apple to use in-house Wi-Fi chips in iPhone 17 series: Ming-Chi Kuo. Microsoft delays controversial Recall to Dec. after previously pushing to Oct. White House plans $825M investment in Albany semiconductor R&D facility. Huawei Q3 revenue +15.6%to $23.7B, net profit -70.5% to $1.1B. monday.com connects and empowers teams to excel in every aspect of work. Get started now!* *Sponsored. Tech & law Anthropic urges governments to act on building AI policy within 18 months. Nvidia-Run:ai deal to be reviewed under EU's merger rules. China's Temu faces EU probe over failure to stop illegal sales. Biotech Semaglutide use correlates with reduced Alzheimer's risk in T2D patients. Centenarians exhibit lower burden of harmful loss-of-function gene variants. FDA advisers vote against Lexicon Pharma's add-on drug for type 1 diabetes. Inbrain targets neurological diseases with graphene-based interface. Business Boeing union on strike endorses 38% wage hike offer, vote set for Mon. UK bonds fall again after Labour releases budget on Wed. China policy meeting on Mon., economic recovery measures expected. Crypto Tether Q3 net profit hits $2.5B, YTD profit reaches $7.7B. Trump's World Liberty Financial slashes fundraising target by 90% to $30M. Trump wishes Bitcoiners happy 16th birthday, promises Ross Ulbright release. U.S. politics Harris seizes on Trump's vow to protect women "whether they like it or not." Biden's "garbage" transcript was altered by White House despite concerns. CBS sued by Trump for $10B over Harris's 60 Minutes interview. Fox News, CNN main sources for political news for Americans. World Iran reportedly prepping new attack on Israel from Iraq, fuelling oil prices. Blinken says 8,000 North Korean troops in Russia's Kursk. Russia gains territory as many Ukrainians now favor peace talks. Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below). Share Bay Area Times Share our newsletter with your friends and get free Bay Area Times rewards! You currently have 0 referrals, only 1 away from receiving our Generative AI Unicorns Database. Click to Share Or copy and paste this link to others: https://www.bayareatimes.com/subscribe?ref=UbEAXR818y What did you think of today's newsletter? ⭐️⭐️⭐️⭐️⭐️ Amazing! ⭐️⭐️⭐️ OK ⭐️ Bad Advertise on the Bay Area Times Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.  Please read our Terms of Service and our Privacy Policy before using Our Service.   Update your email preferences or unsubscribe here © 2024 Bay Area Times 228 Park Ave S, #29976, New York, New York 10003, United States Terms of Service