When Bill Gates dropped out of college to co-found Microsoft, he wasn’t thinking about becoming a billionaire or running a company that’s now valued at more than $3 trillion. Gates, then 20 years old, had a much more “boring” definition of success, he tells CNBC Make It: “Back then, it was just: Is my code really good? Does it work? And can this company show the world that these microcomputers are big?” At the time, in 1976, computer obsessives like Gates and co-founder Paul Allen were considered “hobbyists” — yet they fervently believed that a technological revolution was imminent. “It was the magic of software. And I was willing to focus my life, in my 20s, just on software, just on the one job,” says Gates. Find more on how he says this singular mindset helped him succeed: https://cnb.cx/3zQhRnW
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Welcome to CNBC's home on LinkedIn! Follow us for regular updates about financial news, top CNBC.com stories, behind-the-scenes moments and more. CNBC, Inc. provides business news in the United States and Canada. It provides real-time financial market coverage and business information. The company, through its Web site, cnbc.com, provides real-time market analysis; video programming daily; industry and topic-specific blogs; cnbc.com live stream, a long-form scheduled programming of events; charts; and investing tools. The company was founded in 1989 and is headquartered in Englewood Cliffs, New Jersey. CNBC, Inc. operates as a subsidiary of NBC Universal, Inc.
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CNBC reposted this
OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. While OpenAI didn't name the investors in Wednesday's press release, a person with knowledge of the matter said the round was led by Thrive Capital and included participation from existing backer Microsoft as well as chipmaker Nvidia, SoftBank and others. Thrive planned to invest $1 billion in the round, CNBC previously reported. OpenAI's rapid ascent, which began with the launch of ChatGPT in late 2022, has been the biggest story in the tech industry over the last couple years, bringing the concept of generative artificial intelligence into the mainstream and paving the way for tens of billions of dollars of investments in AI infrastructure. "The new funding will allow us to double down on our leadership in frontier AI research, increase compute capacity, and continue building tools that help people solve hard problems," OpenAI wrote in a blog post Wednesday. OpenAI generated $300 million in revenue last month, up 1,700% since the beginning of last year, CNBC confirmed last week, following reporting by the New York Times. The company expects to bring in $11.6 billion in sales next year, up from $3.7 billion in 2024, according to a person close to OpenAI who asked not to be named because the financials are confidential. (CNBC)
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Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon. The partnership will officially launch at the start of next F1 season and will include "hospitality, bespoke activations, limited editions and outstanding content." Read more: cnb.cx/3zJq0dW
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For months, traders have largely dismissed the risk of a supply disruption in the Middle East, but the threat is growing.
Israel retaliation may target Iran oil infrastructure, boosting prices further, Wall Street analysts say
cnbc.com
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CNBC’s Deidre Bosa reports on a new partnership between Accenture and Nvidia. Watch more: cnb.cx/3zEcfNH
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With about a month to go until the 2024 presidential election, investors are bracing for potential volatility in the markets amid uncertainty over whether former President Donald Trump or Vice President Kamala Harris will win in November. Find more on how investors can position their portfolios ahead of the 2024 presidential election here: cnb.cx/3N5XJBs
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A measure designed to help student loan borrowers with their payments expired this week, putting some borrowers at risk of delinquency.
Student loan payment 'on-ramp' ends, putting some borrowers at risk of delinquency
cnbc.com
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Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from Wednesday afternoon.
LVMH and Formula One announce 10-year partnership
cnbc.com
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After selling his first startup, entrepreneur Mark Cuban celebrated his newfound millionaire status by buying an American Airlines lifetime flight pass.
Mark Cuban drunkenly called American Airlines after selling his first company—and bought a lifetime flight pass for $125,000
cnbc.com
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Spatial artificial intelligence and robotics is developing as we speak, and it's bringing the technological focus back into the physical world.
For Nvidia, spatial AI and the ‘omniverse’ entering physical world may be the next big thing
cnbc.com