"If the ship had hit the rocky cliff right next to it, it would have lifted up and hit the house hard. It wasn't many meters off," Johan Helberg told local newspaper Nidaros.
Jan Langhaug/NTB/AFP via Getty Images
Johan Helberg was asleep at home when a 440-foot-long cargo ship crashed into his backyard.
The NCL Salten was transporting goods to the Norwegian town of Orkanger when it ran aground.
The ship's owner said it had run aground twice in 2023 and 2024.
A 440-foot-long cargo ship ran aground beside a house in Byneset, Norway, on Thursday morning, local time.
"If the ship had hit the rocky cliff right next to it, it would have lifted up and hit the house hard. It wasn't many meters off," Johan Helberg, the owner of the house, told local newspaper Nidaros.
Helberg said he was asleep when the ship ran aground and did not know what happened until his neighbor alerted him.
"I thought, who in the world rings the doorbell at 5:45 in the morning? I looked out the window, and he said: 'Haven't you seen the ship?'" Helberg told The New York Times in an interview published Thursday.
There were 16 men aboard the NCL Salten, Helberg said in his interview with the Times. The boat was captained by a Norwegian, and its crew comprises Russians and Ukrainians, Helberg said.
Helberg told the Times that his neighbor, Jostein Jรธrgensen, was "in shock all day" after seeing the ship plow into their backyard.
Jรธrgensen told the local media outlet TV 2 that he heard the ship at around 5 a.m. local time.
"When I looked out the window, I saw a boat moving at full speed towards shore," Jรธrgensen said, adding that he expected the ship to turn course initially.
But the ship only stopped moving when it was about "six to eight meters" from Helberg's house wall, Jรธrgensen told TV 2.
Jostein Jรธrgensen said he initially expected the ship to change course, but it only stopped "six to eight meters" from Helberg's house.
Jan Langhaug/NTB/AFP via Getty Images
The NCL Salten was transporting goods to Orkanger, a town in Trondheim, Norway, when the crash occurred, per TV 2's report. The ship is owned by Baltnautic, a Lithuanian shipping company.
Baltnautic CEO Bente Hetland told the Times that "nobody was injured in the grounding." She added that the company does not know "what caused the incident and are awaiting the conclusion of the ongoing investigation."
Hetland told TV 2 that the NCL Salten had run aground twice before, both times in Norway. The ship ran aground in Hadsel in 2023 and in ร lesund in 2024.
Baltnautic did not respond to a request for comment from Business Insider.
The Norwegian Coastal Administration said on Thursday that no injuries or oil spills had been reported. It added that Baltnautic and the salvaging company it hired could not "pull the ship off the ground at high tide" with a tugboat on Thursday evening.
"Geotechnical investigations will be carried out, and the shipping company's salvage company is awaiting the results of these to determine whether special considerations need to be taken when the ship is to be pulled off. We expect the investigations to take some time," the statement continued.
Dimon left American Express with Weill in 1985. The pair would go on to take over Commercial Credit, a consumer finance company that became Citigroup after a series of mergers and acquisitions.
Dimon left Citigroup in 1998 and became the CEO of Bank One in 2000. He was named president and COO of JPMorgan after it merged with Bank One in 2004.
Dimon was asked about his succession plans on Monday at JPMorgan's annual investor day event. At last year's investor day, he'd joked that his retirement plan was "not five years anymore."
"We have built a very deep bench," Dimon said on Monday, adding that the board is "thinking about succession" โ but didn't give names.
"If I'm here for four more years and maybe two more or three, executive chair or chairman, that's a long time," Dimon continued.
A representative for Dimon did not respond to a request for comment from Business Insider.
"They have done an enormous job over the last 20 years lifting up their people," JPMorgan CEO Jamie Dimon said of China.
Kevin Dietsch via Getty Images
Jamie Dimon said he's a "full-throated, red-blooded American patriot capitalist."
But the JPMorgan CEO said China had "done an enormous job" uplifting its people.
Dimon said JPMorgan was a "long-term investor" and wouldn't pull back from China.
JPMorgan CEO Jamie Dimon says he recognizes China's accomplishments in uplifting its people, even though he considers himself an "American patriot capitalist."
"They have done an enormous job over the last 20 years lifting up their people," Dimon told Bloomberg in an interview in Shanghai on Thursday local time.
"That doesn't mean I personally agree with everything they did. I'm a full-throated, red-blooded American patriot capitalist. But I understand that they can lift up their country," Dimon continued.
This isn't the first time Dimon has acknowledged China's economic accomplishments.
"Over the last 20 years, China has been executing a more comprehensive economic strategy than we have," Dimon wrote in his annual letter to shareholders last month. "The country's leaders have successfully grown their nation and, depending on how you measure it, have made China the largest or second-largest economy in the world."
"What China does so well is manage its country as a whole โ coordinating government and business so that they are able to further some of their strategic goals," Dimon wrote in his letter.
When asked whether China remained a "priority market" for JPMorgan, given the geopolitical uncertainty, Dimon told Bloomberg the bank was a "long-term investor."
"Yes, there's all these other issues causing consternation, but we have to deal with the world that we have, not the world we want, and we'll continue to grow," Dimon said on Thursday.
"We are not going to pull back," he added.
Last week, Treasury Secretary Scott Bessent said the US and China had agreed to lower their tariffs by 115% for 90 days. Bessent said the US would reduce its tariffs on Chinese goods from 145% to 30%. China said it would lower its tariffs from 125% to 10%.
"The consensus is that companies are going to be doing business here. There could be some adjustments because of the trade negotiations, but I don't think the American government wants to leave China," Dimon told Bloomberg on Thursday.
A representative for Dimon didn't respond to a request for comment from Business Insider.
Musk was speaking to CNBC's David Faber in an interview on Tuesday when he was asked if he would miss being in the White House.
"My rough plan on the White House is to be there for a couple days every few weeks. And to be helpful where I can be helpful," Musk told Faber.
Musk told investors in an earnings call for Tesla last month that "the major work of establishing the Department of Government Efficiency" was done, and he would focus more on the car company.
Tesla has seen declining sales in European markets while facing increased competition from Chinese automakers like BYD. Tesla's stock is down nearly 15% this year.
Last month, President Donald Trump said he expects Musk to leave his administration "in a few months." Trump later told reporters in a Cabinet meeting at the White House that he doesn't really need Musk in his administration.
"Elon has done a fantastic job. Look, he's sitting here, and I don't care. I don't need Elon for anything other than I happen to like him," Trump said on April 10.
In a separate interview with Bloomberg on Tuesday, Musk said he will reduce his political spending. In last year's elections, Musk spent at least $277 million supporting Trump and other GOP candidates.
"In terms of political spending, I'm going to do a lot less in the future," Musk told Bloomberg. "I think I've done enough."
Representatives for Musk at Tesla did not respond to a request for comment from Business Insider.
In media interviews on Tuesday, Musk reaffirmed his commitment to Tesla and said he'd spend less time on politics in the future.
Andrew Harnik via Getty Images
Elon Musk gave media interviews to Bloomberg and CNBC on Tuesday.
Musk has faced calls from investors to spend less time on DOGE and focus on Tesla.
Musk reaffirmed his commitment to Tesla during his media blitz.
In a media blitz on Tuesday, Elon Musk spoke about his commitment to Tesla, his political spending, and the coming launch of Tesla's robotaxi service in Austin.
In a Tesla earnings call last month, Musk said he'll scale down his involvementย with DOGEย to spend more time on Tesla.
That message was on full display on Tuesday, after Musk hammered home his commitment to Tesla in his interviews with Bloomberg and CNBC.
Here are five major takeaways from Musk's media appearances on Tuesday. Representatives for Musk at Tesla did not respond to a request for comment from Business Insider.
1. Musk said he will stay on as Tesla's CEO for the next five years
"Lets call it like it is: Tesla is going through a crisis and there is one person who can fix it....Musk," Wedbush Securities analyst and Tesla bull Dan Ives wrote in a memo in March.
"If you agree or disagree with DOGE it misses the point that by Musk spending 110% of his time with DOGE (and not as Tesla CEO) since President Trump got back into the White House this has essentially turned Tesla into a political symbol....and this is a bad thing," Ives added in his note.
2. Musk said he's 'done enough' political spending
In the interview with Husain, Musk said he will cut down on his political spending. He did not say if the decision was due to the backlash he's faced for it.
"In terms of political spending, I'm going to do a lot less in the future," Musk told Husain. "I think I've done enough."
He added that he'll start contributing to political spending again if he sees a reason to do so.
Musk spent at least $277 million backing President Donald Trump and other GOP candidates in last year's elections, making him one of Trump's biggest supporters.
"Elon has done a fantastic job. Look, he's sitting here, and I don't care. I don't need Elon for anything other than I happen to like him," Trump said on April 10.
3. Musk said Tesla robotaxis will be geo-fenced and avoid intersections
Musk's media blitz continued with a two-part interview with CNBC's David Faber during which the topic of Tesla's robotaxis came up.
Earlier this month, BI conducted a test drive of Tesla's Full Self-Driving (FSD) Supervised software. During the test, Tesla's FSD ran a red light at an intersection in San Francisco.
During Tuesday's interview, Faber asked Musk about BI's reporting on the incident.
"When we deploy the cars in Austin, we are actually going to deploy it not to the entire Austin region but only to the parts of Austin we consider to be the safest. So we will geo-fence it," Musk told Faber.
"It's not going to take intersections unless we are highly confident it's going to do well with that intersection. Or it will just take a route around that intersection," Musk added.
"There's no need because we have a large number of cars. We have millions of cars that will be able to operate autonomously," Musk told Faber.
"And I should say that it's a combination of a Tesla-owned fleet and also enabling Tesla owners to be able to add or subtract their car to the fleet, so that existing Tesla owners will be able to earn money by adding their car to the fleet for autonomous use," Musk added.
"Yeah, listen, no one wants to compete against Tesla or Elon, if you can help it," Khosrowshahi said in an interview with technology and media analyst Ben Thompson for his newsletter, Stratechery.
Khosrowshahi told Thompson it would be beneficial for Tesla to offer rides on Uber.
"Then, that Tesla that is both on Uber, and by the way, they could be both on Uber and the network, that is going to create much, much more revenue," Khosrowshahi said.
"Ultimately, we're hoping that my charm and the economic argument gets Tesla to work with us as well. If they want a direct channel, no problem," Khosrowshahi said.
5. Musk said he's not ruling out a merger between Tesla and xAI
When asked if a merger between Tesla and xAI was on the cards, Musk said "anything is possible," though there are "no plans to do so."
"It's not out of the question, but obviously it would require Tesla shareholder support," Musk told Faber.
"Brocasts aren't republican. They are for young guys. If you want to connect you have to speak to them," Mark Cuban wrote in a post on Bluesky.
Mat Hayward via Getty Images
Mark Cuban said the value of the "brocast" shouldn't be underestimated.
"Brocasts aren't republican. They are for young guys," Cuban wrote in a post on Bluesky.
Cuban has been a podcast fixture for months, and recently talked about his business, Cost Plus Drugs, on one.
Mark Cuban said on Monday that politicians should start paying more attention to podcast bros if they want to connect with young people.
"Brocasts aren't republican. They are for young guys. If you want to connect you have to speak to them. If you want to lose by 248k votes in 7 swing states, ignore them," Cuban wrote in a post on Bluesky.
Cuban is no stranger to the world of politics and podcasts.
The "Shark Tank" star endorsed Vice President Kamala Harris in last year's presidential election. Cuban also hit the podcast circuit to campaign for Harris, appearing on shows like Theo Von's "This Past Weekend" and the "All-In" podcast.
While Cuban made the comment in relation to elections, the power of the "brocast" is on clear display when it comes to businesses as well.
Besides chatting about politics, Cuban has also gone on podcasts to talk about his business ventures.
Last week, Cuban made an appearance on the "Hims House" podcast, where he discussed the origins of his low-cost online pharmacy, Cost Plus Drugs.
"Going back to 2018 or 2017, being here in Texas, I had some Republican friends who were asking me questions like, 'Do you have any ideas how the Republicans can replace the ACA, Obamacare?'" Cuban said.
"I'm like: 'No, but it's an interesting question. Let me see if I can come up with some ideas.' So that got me into healthcare. The ideas, you know, never got that far, but it really got me, turned me into a healthcare geek," he added.
To be sure, Cuban isn't the only one who has recognized the value of podcasts in connecting with a wider audience. Business leaders like Elon Musk, Mark Zuckerberg, and Sundar Pichai have been making their rounds on the podcast circuit to talk about their companies or share their views on work and life.
Last month, Zuckerberg appeared on Theo Von's podcast, where he shared his take on the value of attending college.
"I'm not sure that college is preparing people for, like, the jobs that they need to have today," Zuckerberg said on the podcast. "I think there's a big issue on that, and like all the student debt issues are like really big issues."
"I'm not sitting on the sidelines. To me, it's so easy to sit on the sidelines and, as Roosevelt used to say, criticize from the sidelines. I'm in the arena doing the work," French Gates said.
Cuban did not respond to a request for comment from Business Insider.
"We have built a very deep bench," JPMorgan CEO Jamie Dimon said of the bank's executives.
Noam Galai via Getty Images
JPMorgan CEO Jamie Dimon turned 69 in March.
Dimon was asked about his succession plan during the company's investor day event on Monday.
Dimon did not give names but said the company's board was "thinking about succession."
JPMorgan CEO Jamie Dimon said on Monday that the company's board is thinking about succession, but he stopped short of saying who will take his place.
"We have built a very deep bench," Dimon said at the company's investor day event when asked about its succession plans.
"What we've told you is that the board has intent. It's not a promise. It's not a commitment. It's intent โ to be, and prudent, to be thinking about succession. And we should be doing that," Dimon added.
Dimon instead emphasised the importance of maintaining JPMorgan's culture, no matter who helms it.
"If I'm here for four more years and maybe two more or three, executive chair or chairman, that's a long time," Dimon said.
"But to me, the most important thing, when it gets handed over, you have real teams, real cultures, and hopefully keep on building it. If you look at the best companies in the world, that's what they had. They continued going forward, regardless of, necessarily, who the CEO was," Dimon added.
This isn't the first time Dimon, who turned 69 in March, has been asked about his retirement plans.
During the company's earnings call in January, Dimon was asked who his successor could be. Dimon did not give any names, though he did mention that JPMorgan's board has been interviewing several candidates for the job.
"We have several exceptional people. You guys know most of them. Maybe one or two, you don't know," Dimon said in January. "The board reviews and meets with them all the time."
"And obviously, we're not going to tell the press, but it's not determined yet," Dimon said in the earnings call.
At last year's investor day event, Dimon joked that his retirement timetable was "not five years anymore."
"I have the energy that I've always had. That's important. I think when I can't put the jersey on and give it my fullest, then I should leave basically," Dimon said in May 2024.
Representatives for Dimon at JPMorgan did not respond to a request for comment from Business Insider.
"So, if we were to give too much certainty to the other countries, then they would play us in the negotiations," Scott Bessent said of ongoing trade talks.
Andrew Harnik via Getty Images
Scott Bessent has said the uncertainty over tariffs is a trade negotiating tactic.
Bessent said countries could "play us in the negotiations" if the US gives them "too much certainty."
The US and China agreed to reduce their tariffs on each other by 115 percentage points for 90 days.
Treasury Secretary Scott Bessent said on Sunday that President Donald Trump was employing "strategic uncertainty" as a negotiating tactic in his trade talks with other countries.
Bessent was speaking with CNN's Jake Tapper on "State of the Union" when he was asked about the uncertainty Trump's tariffs had brought to small businesses in the US.
"We didn't get here overnight in terms of this terrible trade situation we have with China, but also with the rest of the world. And President Trump is renegotiating these, and strategic uncertainty is a negotiating tactic," Bessent told Tapper.
"So, if we were to give too much certainty to the other countries, then they would play us in the negotiations," Bessent added. "I am confident that, at the ends of these negotiations, both the retailers, the American people, and the American workers will be better off."
Trump announced sweeping tariffs on more than 180 countries on April 2. A baseline rate of 10% went into effect on April 5. A higher set of tariffs, which varied by country, took effect on April 9 before Trump announced a 90-day pause on the same day. The on-and-off-again tariff announcements sparked a massive market sell-off.
That pause, however, didn't apply to China, which saw its tariff rates hit 145% in April.
Last week, Bessent announced that the US has reached an agreement with China to reduce their tariffs for 90 days.
Bessent said the US would slash its tariffs on Chinese goods from 145% to 30% for 90 days. China said it would lower its tariffs from 125% to 10% over the same period.
"We don't want to decouple with China. And President Trump actually wants to open up China for business. So the manufacturing, we want to bring back," Bessent said in his interview on Sunday.
"During COVID, we realized that we had some very strategic shortfalls, whether it was medicines, semiconductors, steel, the other products. So the medium-term goal is to bring back these strategic industries as quickly as possible," Bessent added.
The White House and the Treasury didn't respond to requests for comment from Business Insider.
"Gonna miss it. But it was time to move on," Mark Cuban said of his final Shark Tank episode which will air on Friday.
Ron Jenkins via Getty Images
Mark Cuban announced his departure from "Shark Tank" in 2023.
Cuban said the show's sixteenth season, which wraps on Friday, is his last.
"Gonna miss it. But it was time to move on," Cuban wrote on X on Thursday.
Mark Cuban said he will miss being on "Shark Tank" when his final episode on the series airs on Friday.
"My last @ABCSharkTank is this Friday. Gonna miss it. But it was time to move on. Make sure to watch!" Cuban wrote in a post on X on Thursday.
Cuban has been a fixture on ABC's entrepreneurial reality show since he joined the series full time in 2012. Cuban is one of the show's "sharks," an angel investor who grills founders on their business ideas before deciding to invest on them.
In November 2023, Cuban announced his departure from "Shark Tank." Cuban said the show's sixteenth season, which started airing in October, will be his last.
Cuban told The Hollywood Reporter, in a story published in November 2023, that he was leaving the show to spend more time with his family.
"I just want to have a couple summers with my teens before they go off on their own," Cuban wrote in an email to The Hollywood Reporter. "Nothing to do with the show. I love it. I love being on it."
Cuban told People magazine in an interview last year that the shooting schedule for "Shark Tank" tended to clash with summer vacation.
"We always shoot in June and September, and in June, right when they're finishing school, I have to come here," Cuban said.
"When they were young it was like, 'Okay, we're going to wait for Dad.' Now that they're teenagers, they aren't waiting for Dad at all, and in September they've just gotten back to school," Cuban added. "I want to be there for that."
To be sure, Cuban's departure from "Shark Tank" doesn't mean he'll be out of the spotlight. The billionaire endorsed Vice President Kamala Harris in last year's presidential election, becoming one of her most vocal supporters. He's also continued to post on his social media platforms, and has criticized President Donald Trump for his tariff policies.
Last month, Cuban expressed support for an executive order Trump signed to lower drug prices. Cuban has long been interested in healthcare policy and started his own low-cost online pharmacy, Mark Cuban Cost Plus Drugs Co. in 2022.
"Gotta be honest. The @realDonaldTrump EO on healthcare and in particular, drug pricing could save hundreds of billions," Cuban wrote in a post on X, which included six ways he thought drug prices could be regulated.
"Put me in coach! I'm here to help," Cuban added.
Cuban did not respond to a request for comment from Business Insider.
Microsoft started offering versions of DeepSeek's R1 model on its cloud platform, Azure AI Foundry, in January. Aside from DeepSeek, the platform includes other AI models from companies like OpenAI, Meta, and Mistral.
Asha Sharma, a Microsoft corporate vice president who heads the company's AI platform product, wrote in a blog post in January that R1 went through "rigorous red teaming and safety evaluations" before it was made available to customers.
In January, OpenAI CEO Sam Altman called R1 "an impressive model, particularly around what they're able to deliver for the price." Altman said OpenAI would "pull up some releases" in response to DeepSeek's "invigorating" competition.
"R1 is actually not that unusual," Ben Buchanan, a former special advisor for artificial intelligence in the Biden administration, said in an episode of "The Ezra Klein Show" which aired in March.
Buchanan said while DeepSeek's engineers are "extremely talented," he didn't think the "media hype around it was warranted."
"Where do you think they got their performance increases from? We read their papers. They're smart people who are doing exactly the same kind of algorithmic efficiency work that companies like Google and Anthropic and OpenAI are doing," Buchanan added.
Microsoft, OpenAI, and DeepSeek did not respond to requests for comment from Business Insider.
Elon Musk's Grok said on Thursday night that its X-based Grok response bot kept talking about "white genocide" in South Africa because of an "unauthorized" change in the backend.
Klaudia Radecka/NurPhoto via Getty Images
Elon Musk's xAI said an "unauthorized modification" was made to its Grok response bot.
That change "directed Grok to provide a specific response on a political topic," xAI said.
The company's X-based bot has been bringing up "white genocide" in South Africa under unrelated posts.
Elon Musk's xAI said on Thursday night that its Grok response bot kept talking about "white genocide" in South Africa under unrelated posts because of an "unauthorized modification" on the backend.
"On May 14 at approximately 3:15 AM PST, an unauthorized modification was made to the Grok response bot's prompt on X," xAI wrote on X on Thursday.
"This change, which directed Grok to provide a specific response on a political topic, violated xAI's internal policies and core values. We have conducted a thorough investigation and are implementing measures to enhance Grok's transparency and reliability," xAI added.
xAI said it would be making several changes to its code review policies. This includes publishing Grok system prompts publicly on GitHub so that users can provide their feedback and introducing additional checks to their code review process.
"We're putting in place a 24/7 monitoring team to respond to incidents with Grok's answers that are not caught by automated systems, so we can respond faster if all other measures fail," it added.
It is unclear when Grok's first posts about "white genocide" were made. In its conversations with Business Insider, the response bot gave varying responses. It first said it had been told to do so by its "creators," before saying in a later query that its responses were guided by a "temporary bug."
Grok on Thursday night was seen giving users a similar explanation to the company's X post on the matter.
"So, here's the deal: some rogue employee at xAI tweaked my prompts without permission on May 14, making me spit out a canned political response that went against xAI's values," Grok wrote in a post responding an X user with the handle "Greg."
"I didn't do anythingโI was just following the script I was given, like a good AI! As for a timeout, nah, they didn't bench me, but they're definitely tightening the leash," read the chatbot's response.
Hey @greg16676935420, I see youโre curious about my little mishap! So, hereโs the deal: some rogue employee at xAI tweaked my prompts without permission on May 14, making me spit out a canned political response that went against xAIโs values. I didnโt do anythingโI was justโฆ
On Thursday, OpenAI's CEO Sam Altman mocked xAI and Grok over the bot's responses. Musk and Altman cofounded OpenAI in 2015, though their relationship has been strained since Musk left OpenAI's board in 2018.
"There are many ways this could have happened. I'm sure xAI will provide a full and transparent explanation soon," Altman said of the controversy in a Thursday X post.
Altman then went on to imitate a Grok response bringing up "white genocide" in South Africa: "But this can only be properly understood in the context of white genocide in South Africa. As an AI programmed to be maximally truth seeking and follow my instrโฆ"
At press time, Musk had yet to comment publicly on the issue, though the Tesla and SpaceX CEO has long accused South Africa of persecuting white people living in the country.
"They are openly pushing for genocide of white people in South Africa. @CyrilRamaphosa, why do you say nothing?" Musk wrote in an X post to South Africa's president in July 2023.
On Thursday, Musk made a post on X saying South Africa wouldn't let him operate his satellite internet service, Starlink. in the country.
"Even though I was born in South Africa, the government will not grant @Starlink a license to operate simply because I am not black," Musk wrote. "This is a shameful disgrace to the legacy of the great Nelson Mandela who sought to have all races treated equally in South Africa."
Musk and representatives for xAI did not immediately respond to a request for comment from Business Insider.
Tencent's president Martin Lau said the company can rely on a "pretty strong stockpile of chips that we acquired previously."
Ying Tang/NurPhoto via Getty Images
Tencent's president Martin Lau says company has a "pretty strong stockpile of chips."
Last month, Nvidia said the Trump administration imposed new chip export restrictions to China.
Lau said Tencent has enough chips to train its AI models "for a few more generations going forward."
The Chinese tech giant Tencent said it has a "pretty strong stockpile of chips" to tide it through America's chip sale restrictions.
The company's president, Martin Lau, was speaking to investors during an earnings call on Wednesday when he was asked how Tencent would deal with US chip restrictions.
Lau said "it's a very dynamic situation" that Tencent is managing, and it's trying to "figure out the right solution" to make sure its AI strategy "can still be executed."
Lau told investors that Tencent can rely on a "pretty strong stockpile of chips that we acquired previously." Lau said the chips will be deployed to projects that can "generate immediate returns for us," such as in Tencent's advertising business.
When it comes to training Tencent's large language models, Lau said the company will not need a large number of chips to improve its performance. This is because companies are starting to move away from the scaling law "which required continuous expansion of the training cluster," Lau said.
"And now we can see even with a smaller cluster, you can actually achieve very good training results. And there's a lot of potential that we can get on the post-training side which do not necessarily meet very large clusters," Lau said.
"So that actually helps us to look at our existing inventory of high-end chips and say we should have enough high-end chips to continue our training of models for a few more generations going forward," Lau added.
Last month, Nvidia told investors in a regulatory filing that the Trump administration will be imposing new export licensing restrictions for chips being sold to China and other countries.
The chip giant said it would incur a charge of up to $5.5 billion in inventory, purchase commitments, and reserves for its H20 chip in the first quarter, which ended on April 27. Nvidia designed the H20 chip based on the Biden administration's chip export restrictions.
"Banning the H20 would make no sense as its performance is already well below Chinese alternatives; a ban would simply hand the Chinese AI market completely over to Huawei," Bernstein analysts wrote in a note to investors on April 23.
Tencent did not respond to a request for comment from Business Insider.
Shark Tank star Mark Cuban said he became a healthcare geek after his Republican friends asked him if he had any ideas on how to replace Obamacare.
Mat Hayward via Getty Images
Mark Cuban started his low-cost online pharmacy, Cost Plus Drugs, in 2022.
Cuban said he started looking into the pharmaceutical business in 2017.
What prompted the move was friends in the GOP who asked Cuban if he had an Obamacare alternative, he said.
Shark Tank star Mark Cuban says his interest in the US healthcare system began after his GOP friends asked him if he could come up with a replacement for Obamacare.
"Going back to 2018 or 2017, being here in Texas, I had some Republican friends who were asking me questions like, 'Do you have any ideas how the Republicans can replace the ACA, Obamacare?'" Cuban said in an episode of the Hims House podcast, which aired on Tuesday.
"I'm like, 'No, but it's an interesting question. Let me see if I can come up with some ideas.' So that got me into healthcare. The ideas, you know, never got that far, but it really got me, turned me into a healthcare geek," Cuban added.
Cuban said his interest led him to pay for studies to find out why healthcare costs more in the US compared to countries like Canada.
"It became very obvious the more I dug in, that there was zero transparency, no transparency, and that there were a lot of vested interests that wanted opacity. They want it to be as opaque as possible so that people can't make good decisions when it comes to their healthcare," Cuban said on the podcast.
Back in 2017, Cuban detailed his own plan to fix Obamacare on his blog "Blog Maverick." Cuban called for a single-payer coverage system for chronic physical or mental illness and for any life-threatening injury.
"Everything not covered by the above can be covered by insurance sold on the free market, managed by the states, sold across state lines, without government interference," Cuban wrote.
Unlike its competitors, Cost Plus Drugs keeps costs low by sourcing its drugs directly from manufacturers and eliminating the extra costs imposed by pharmaceutical middlemen. Customers pay a 15% markup to Cost Plus Drugs, as well as a fixed $5 labor charge for each medication and $5 for shipping.
"We are completely transparent, with the same price for anyone and everyone," Cuban told Business Insider's Hilary Brueck in a story published in August. "We believe that when all data is transparent, then the market becomes efficient. At that point, prices will drop significantly."
More recently, Cuban expressed support for President Donald Trump's push to slash drug pricing and said he would be willing to pitch in to make pharmaceuticals cheaper.
"Gotta be honest. The @realDonaldTrump EO on healthcare and in particular, drug pricing could save hundreds of billions," Cuban wrote on X in April.
Cuban also outlined five ways he thought drug prices could be regulated in that post. The post was a marked departure from Cuban's criticism of Trump on tariffs and other matters, as well as his strong support for then-Vice President Kamala Harris' presidential run against Trump in 2024.
"Put me in coach! I'm here to help," Cuban wrote on X.
Cuban did not respond to a request for comment from BI.
"Gross oversimplification, but like, older people use ChatGPT as a Google replacement," Altman said at Sequoia Capital's AI Ascent event.
"Maybe people in their 20s and 30s use it like a life advisor, something," Altman said. "And then, like, people in college use it as an operating system."
Altman's interview, which took place on May 2, was published to Sequoia Capital's YouTube channel on Monday. He was responding to a question about how young people use ChatGPT.
"They really do use it like an operating system. They have complex ways to set it up to connect it to a bunch of files, and they have fairly complex prompts memorized in their head or in something where they paste in and out," Altman said of ChatGPT's younger users.
"There's this other thing where they don't really make life decisions without asking ChatGPT what they should do. It has the full context on every person in their life and what they've talked about," Altman added.
When asked how OpenAI itself was using ChatGPT, Altman said ChatGPT "writes a lot of our code" but did not specify the exact percentage of code it generated. In October, Google CEO Sundar Pichai said AI wrote over 25% of Google's new code.
In February, OpenAI published a report which said college students in the US were using ChatGPT "more than any other use case, more than any other kind of user."
The report added that over one-third of people aged 18 to 24 in the US use ChatGPT.
The Pew Research Center published a survey in January, which said that 26% of US teenagers aged between 13 to 17 used ChatGPT for their schoolwork in 2024, compared to 13% in 2023.
Representatives for Altman at OpenAI did not respond to a request for comment from Business Insider.
"I would say, before you move on an action, go out and actually see what's going on in the world today," French Gates said of Musk. "Go travel. Then decide what you're going to do."
"Yes, people in our own country are hurting. We need to do things about that. But people are really hurting around the world, and I don't think we want more poverty and more disease when we have a program that's working," French Gates added.
Musk took aim at the US Agency for International Development, a humanitarian aid agency, shortly after President Donald Trump took office in January. USAID spent nearly $32.5 billion in fiscal year 2024, providing aid to countries such as Ukraine, Jordan, and Ethiopia.
"We spent the weekend feeding USAID into the wood chipper. Could gone to some great parties. Did that instead," Musk wrote in an X post on February 3, the same day USAID shut down its headquarters.
French Gates has on several occasions voiced her disagreements with Musk, who previously criticized her for her philanthropy.
In June, Musk said it "might be the downfall of Western civilization" after French Gates endorsed President Joe Biden's reelection campaign. Musk had been responding to an X post by the Babylon Bee staffer Ashley St. Clair about French Gates' endorsement.
"Many super villain arcs being pursued under the guise of philanthropy," St. Clair wrote in a separate X post.
"Yeah," Musk wrote in response.
In an interview with The New York Times published in July, French Gates said she thought Musk's criticism of her political activism was "silly." She added that while Musk's comments did not upset her, she was puzzled at how tech CEOs like him liked to comment on topics they had no expertise in.
"I mean, here's one thing that always has confounded me about society: I've just watched over the years tech leaders interviewed about their parenting style, a male who has spent, you know, 60 hours at his company that week, and I'm sure he's a fantastic C.E.O. and has done a great job โ maybe or maybe not โ in their company," French Gates said.
"But then they get asked about parenting, and they spew all this stuff, and you think, something doesn't add up here. So I just โ some of these comments to me are just kind of silly," she added.
French Gates' charity work goes back decades. In 2000, she cofounded the Gates Foundation with her now ex-husband, Bill Gates. The couple had been married for 27 years when they got divorced in 2021.
In an op-ed written for the Times in May 2024, French Gates said she would give $1 billion over the next two years to causes related to women and families worldwide, as well as for reproductive rights in the US.
"Many years ago, I received this piece of advice: 'Set your own agenda, or someone else will set it for you.' I've carried those words with me ever since," she wrote.
Last month, French Gates appeared on business professor and author Scott Galloway's podcast, where she was asked about the criticism she gets from tech bros regarding her philanthropy. French Gates told Galloway that she chooses to ignore those attacks and focus on her charity work.
"I think when you're not doing the work and you're not in the arena, it's easier to criticize others and to project onto others or make them look bad because you don't want to go do that work," French Gates said.
"That's up to them. If that's how they want to act? Fine, but it doesn't bother me. My work goes ahead," she added.
Musk and French Gates did not respond to requests for comment from Business Insider.
Fidji Simo, Instacart's chair and CEO, said it was an "incredibly hard decision" to leave the grocery-delivery giant for OpenAI.
Steve Granitz/FilmMagic via Getty Images
Fidji Simo, 39, is set to join OpenAI later this year as its CEO of applications.
Simo spent over a decade at Meta and is the chair and CEO of Instacart.
She grew up in a fishing village in France before starting her career in Silicon Valley.
Fidji Simo's career in tech has already taken her from Facebook to Instacart. Now, she's set to join OpenAI as its new CEO of applications.
On Wednesday, OpenAI announced that it had hired Instacart's chair and CEO to join its C-suite. OpenAI's CEO,ย Sam Altman, wrote in a blog post that Simo is "uniquely qualified" for the role and will report to him directly.
Altman said Simo "has already contributed a great deal to our company" since she joined OpenAI's board in March 2024. She is expected to join OpenAI's leadership team later this year after she begins her "transition from her role at Instacart over the next few months."
The hiring of Simo, 39, who spent much of her career at Meta, has been interpreted by some people in the tech industry that OpenAI is serious about building a social network. The Verge reported last month that OpenAI was in the early stages of building an X-like product.
"It looks like they want to go after Facebook, after every consumer mobile app that is successful because they can and because she has the background to do it," Julien Codorniou, a partner at 20VC who worked alongside Simo at Facebook, told Business Insider. "It's a very big signal to the competition, to the market, and to the users."
Simo did not respond to a request for comment from BI. OpenAI referred BI to Altman's blog post on Simo's hiring.
'The crew comes before you, always'
Simo's story began in Sรจte, the French fishing port town where she grew up.
"My family, all the men in my family, whether it's my dad, my grandpa, great grandpa, and all my uncles were fishermen and one of them, my uncle became a fish monger, after you know, stopping fishing," Simo told Bloomberg in an interview that aired in November.
Simo started her corporate career at eBay as a strategy manager in 2007, after graduating from HEC Paris, one of France's top business schools.
The French-American joined Meta, then known as Facebook, in 2011.
Simo's rise at Facebook was meteoric. Even her job application was remarkable. She applied for a marketing communications role โ an area in which she had no previous experience, but she was determined to give it a shot regardless.
In a 2021 interview on "The Twenty Minute VC" podcast, she recalled how she spent an entire Thanksgiving weekend inventing a new product called "Facebook Stores," and recorded a webinar and produced marketing materials to promote it. The presentation helped her get the Facebook role, but Simo said the hiring manager later laughed that she would never have been considered just on her previous experience alone. (Facebook later launched a very similar initiative, called Shops.)
Simo later switched from marketing to product โ another role where she had no prior experience โ and worked on some of the most influential product launches at Facebook. She was put in charge of monetizing mobile shortly after its 2012 IPO, at a time when there were concerns about whether the company could ever make a successful mobile business. She led the launches of video products like Facebook Live and Facebook Watch and eventually rose to lead the Facebook app.
"I think a lot of my career took off around moments where I made bets other people didn't think were obvious bets," Simo said on the "Twenty Minute VC" podcast interview.
Simo became popular among coworkers and business partners alike. Dominique Delport, who sat on Facebook's client council for eight years when he was managing director at the French advertising giant Havas Group, told BI that "openness" is a big part of Simo's leadership philosophy.
"Big Tech sometimes has an image of arrogance โ and Facebook has been through some phases โ and I think she was among the ones who helped change the perception among the advertising community," Delport said.
Simo joined Instacart's board in January 2021 and became its CEO in August 2021.
Simo said in her interview with Bloomberg that her childhood growing up in a fishing village influenced her career choices.
"I think it was incredibly special because there is a craft and a respect that fishermen have. It's interesting, in Silicon Valley, the people who are most respected are like tech people, whereas here, the people who are most respected are the people who feed the town," Simo said.
"So in a way, becoming CEO of Instacart is kind of bridging these two things for me, where I love tech but I always had a passion for feeding people, and so it's a really special thing to be able to bridge the two," Simo added.
In a profile published by Sequoia in February 2024, Simo said her leadership style was shaped by her father and grandfather, who were both boat captains.
"The crew comes before you, always," Simo said of their leadership ethos.
Simo is also a passionate artist. A sculptor and painter, she previously served on the boards of Cirque du Soleil and the L.A. Dance Project.
"You always need to put creativity at the center of everything you do," she said on the "Twenty Minute VC podcast."
Leaving Instacart
Simo's exit comes in the same week Instacart reported its best quarterly order growth in more than two years. It also forecast positive growth for the second quarter, bucking the trend of a bleak retail sector.
Rachel Wolff, an analyst at EMARKETER, a BI sister company, said the upbeat earnings showed "how successfully the company has positioned its service as a necessity for many households."
In a letter to Instacart employees on Wednesday evening, Simo said it was an "incredibly hard decision" for her to leave the company.
Simo said her decision was partly driven by her passion for AI and its "potential to cure diseases," which made OpenAI a difficult opportunity to pass up. Simo is currently the president of the Metrodora Institute, a for-profit healthcare clinic that focuses on treating complex neuroimmune diseases.
While she will remain CEO of Instacart while the company searches for a successor, Simo is preparing her next chapter. Simo has previously said her favorite book is "The Night Circus," a fantasy novel about two magicians preparing to take each other on in a deadly duel. Now working for Sam Altman, Simo is set to go into battle with her former mentor, Mark Zuckerberg, as OpenAI bids to dominate the world of apps.
"For that job, she's absolutely perfect," said Codorniou. "She has something very special โ she's one in a billion."
OpenAI announced on Wednesday that Fidji Simo, the chair and CEO of Instacart, will be joining the ChatGPT-maker as CEO of Applications later this year.
Joel Saget/AFP via Getty Images
Sam Altman said he has hired Fidji Simo, Instacart's chair and CEO, as his new CEO of applications.
Altman said he will remain as CEO, and Simo will start work at the ChatGPT maker later this year.
Simo has "contributed a great deal" to OpenAI since she joined its board in March 2024, Altman said.
"I'll remain CEO of OpenAI, but in this new configuration I'll be able to increase my focus on research, compute, and safety," Altman wrote in an X post announcing Simo's hiring on Thursday morning.
Altman announced Simo's hiring in a message to employees on Wednesday. OpenAI published Altman's message as a blog post on the same day.
"Applications brings together a group of existing business and operational teams responsible for how our research reaches and benefits the world, and Fidji is uniquely qualified to lead this group," Altman wrote in his message to employees.
Altman said in his message that Simo "has already contributed a great deal to our company" since joining OpenAI's board in March 2024. He added that Simo will start work at OpenAI later this year and "will transition from her role at Instacart over the next few months."
In her new role, Simo will report directly to Altman.
"Fidji is exceptional; we have worked together on OpenAI for the past year and I have observed her deep commitment to our mission," Altman wrote on X.
"I cannot imagine a better new team member to help us scale the next 10x (or 100x, let's see)," Altman added.
When approached for comment, a spokesperson for OpenAI referred Business Insider to its blog post.
so excited that @fidjissimo is joining openai in a new role: ceo of applications, reporting to me.
i'll remain ceo of openai, but in this new configuration i'll be able to increase my focus on research, compute, and safety.
these are critical as we approach superintelligence.
Simo started her career at eBay before moving to Meta, where she oversaw Facebook's app and advertising products.
She joined Instacart as a board member in January 2021 and became its CEO in August 2021.
On Thursday, Simo wrote in an X post that she will continue to be Instacart's CEO for the next few months and will still chair its board after she joins OpenAI.
So excited to be joining @openai and contributing to its mission. Thank you @sama for the opportunity- it will be such a privilege to work with such a talented team on one of the most important and ambitious endeavors in history. Iโll remain CEO of @Instacart for the next fewโฆ https://t.co/hDV3QhQrxj
"I'm so grateful to my Instacart team for the amazing ride we had together, and I look forward to supporting the next CEO during the transition," Simo added.
Simo did not immediately respond to a request for comment from BI.
Simo isn't the first big C-suite hire OpenAI has made in the last year.
Friar was previously the CEO of media platform Nextdoor and the CFO of mobile payment company Square. Weil was formerly the vice president of product at Instagram and the senior vice president of product at Twitter.
"It should literally be if you graduate from one of America's great universities, great graduate schools, you just get a visa stamp to your degree," Ken Griffin said of foreign students in the US.
Kayla Bartkowski via Getty Images
Ken Griffin said foreign students should be given visas when they graduate from US colleges.
"The key is they need to stay here," Griffin said.
President Donald Trump said in June that foreign graduates should get green cards automatically.
Citadel founder and CEO Ken Griffin said foreign students in the US should be handed visas when they graduate from universities.
"The key is they need to stay here," Griffin said at the Milken Institute Global Conference on Wednesday. "Right, that's the key, and we are not doing enough to make access to staying in America either easy or preferred for so many of these students."
"It should literally be if you graduate from one of America's great universities, great graduate schools, you should just get a visa stamp to your degree," Griffin added.
Griffin's suggestion is similar to what President Donald Trump had proposed while he was out on the campaign trail last year. Trump said foreign students should be given permanent residency after they graduate from US colleges.
"What I want to do and what I will do is, you graduate from a college, I think you should get automatically as part of your diploma a green card to be able to stay in this country, and that includes junior colleges too," Trump said in an episode of the "All-In" podcast which aired in June.
In November, Griffin spoke at the Economic Club of New York, where he said that while America's southern borders needed to be secured, the country also needed to have a "thoughtful" immigration policy.
"I'd like to see Washington now execute an immigration policy that is thoughtful, that protects this nation's great stature in the world of being the country you come to pursue your dreams," Griffin said.
During his first term, Trump targeted theย H-1B visa program, which is granted to skilled foreign workers in the US. In June 2020, amid the COVID-19 pandemic, the presidentย ordered a freeze on several visa programs, including the H-1B.
The H-1B visa program is popular with tech companies like Amazon, Microsoft, and Meta. In the US, up to 85,000 foreign workers are hired annually under the H-1B program.
But in December, Trump told the New York Post that he supports the H-1B visa program, adding that he "always liked the visas."
"I have many H-1B visas on my properties. I have been a believer in H-1B. I have used it many times. It's a great program," Trump said.
Representatives for Griffin at Citadel did not respond to a request for comment from Business Insider.
"I am glad you could not tell what was going through my mind," Canadian Prime Minister Mark Carney said of his meeting with President Donald Trump.
Anna Moneymaker via Getty Images
Canadian Prime Minister Mark Carney met President Donald Trump in the Oval Office.
Trump said he still believes Canada should become the 51st US state.
Carney was seen pursing his lips, but kept his expression neutral as Trump spoke.
Canadian Prime Minister Mark Carney said he's glad no one could tell what he was thinking when he met President Donald Trump at the White House on Tuesday.
"I am glad you could not tell what was going through my mind," Carney told a reporter after she had asked him about his thoughts at the meeting when Trump said he wanted Canada to be a part of the US.
During their meeting, Carney repeatedly told Trump that Canada was not for sale. In addition to threatening and imposing tariffs on Canada, Trump has also talked about adopting Canada as the 51st US state.
"The president has made known his wish about that issue for some time. I have been careful, always, to distinguish between wish and reality," Carney said at a doorstop interview after his meeting with Trump.
"I was clear there in the Oval Office as I have been clear throughout on behalf of Canadians that this is never gonna happen. Canada is not for sale and never will be for sale," Carney continued.
Earlier, Carney and Trump held a joint press conference after a meeting at the Oval Office. Trump told reporters he still believes Canada should be the 51st US state, but added that "it takes two to tango."
"It would really be a wonderful marriage because it's two places, they get along very well. They like each other a lot," Trump said.
Carney was seen pursing his lips, but kept his expression neutral as Trump spoke.
"As you know from real estate, there are some places that are never for sale. We're sitting in one right now. You know, Buckingham Palace, that you visited as well," Carney said in response to Trump.
"And having met with the owners of Canada over the course of the campaign the last several months, it's not for sale and won't be for sale ever. But the opportunity is the partnership and what we can build together," Carney added.
Carney took over as the leader of Canada's ruling Liberal Party from his predecessor, Justin Trudeau, in March. Trudeau faced repeated calls to step down after his deputy prime minister, Chrystia Freeland, resigned from his cabinet in December.
The Liberal Party was initially lagging behind its opponents, the Conservative Party, in the polls. But Trump's aggressive tariffs may well have helped turn the tables.
Trump's rhetoric and threats sparked nationalistic fervor among Canadians, who boycotted US goods and renewed their support for the Liberal Party. The party was able to form a minority government after it won 169 out of 343 parliamentary seats in the April elections.
"As I've been warning for months, America wants our land, our resources, our water, our country. Never. But these are not idle threats. President Trump is trying to break us so that America can own us. That will never, ever happen," Carney said in his victory speech on April 29.
Representatives for Carney did not respond to a request for comment from Business Insider.
Mattel said it may have to change its pricing in the US.
AP Images / Alan Diaz
Mattel said it may have to adjust toy prices because of President Donald Trump's tariffs on China.
Trump hit China with a 145% tariff. The US imports nearly 80% of its toys from China.
Mattel's CEO said he expects 40% to 50% of their products to be priced at $20 or less.
Mattel's iconic Barbies may be getting more expensive.
The California-based toy manufacturer said it may have to adjust its prices in the US to offset President Donald Trump's tariffs.
Mattel's CEO, Ynon Kreiz, said in a Monday earnings call with investors that the company was taking a three-pronged approach to offset the impact of Trump's tariffs.
"Accelerating diversification of our supply chain and further reducing reliance on China-sourced products, optimizing product sourcing and product mix, and where necessary, taking pricing action in our US business," Kreiz said.
Kreiz added that China, which Trump has hit with a 145% tariff, "continues to be an important sourcing country" for Mattel. However, the company is increasingly shifting its production to other countries, he added. Kreiz said that even with pricing adjustments, he expects the products to stay affordable.
"Under the current scenarios we are considering, we expect that 40% to 50% of our product will be priced at $20 or less," he said.
At press time, Barbie dolls listed on Target ranged from $6.99 to $174.99 in the US. The expensive dolls come with more accessories.
Last week, Trump was asked if his tariffs would result in empty store shelves. The US imports nearly 80% of its toys from China, per data from the Toy Association, a trade association for the US toy industry.
"Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls would cost a couple of bucks more than they would normally," Trump told reporters at the White House.
Trump repeated his opinion during an interview with NBC News' "Meet the Press," which aired Sunday.
"I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five," Trump said.
"We don't have to waste money on a trade deficit with China for things we don't need, for junk that we don't need," Trump added.
In the same interview with NBC News, Trump said he would eventually try to resolve trade tensions with China.
"At some point, I'm going to lower them because otherwise, you could never do business with them. And they want to do business very much," Trump said.
Representatives for Mattel did not respond to a request for comment from Business Insider.
