Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
(AppStoreOfficial.ID) - Indian stocks are expected to start the week lower, aligning with other markets across Asia, as investors remain cautious following the U.S.'s strike on crucial Iranian nuclear facilities, awaiting potential retaliation from Iran.
The Nifty futures were being traded at 25,008 as of 7:51 a.m. IST, suggesting that the Nifty 50 might start lower than its last closing price of 25,112.4.
Over the weekend, the U.S. launched attacks on crucial Iranian nuclear facilities alongside Israel, marking the most significant Western military intervention against the Islamic Republic since the 1979 revolution.
Many Asian stocks declined during the session, as indicated by MSCI Asia ex-Japan dropping over 1%. Meanwhile, oil prices reached their highest point in five months for a short period. [MKTS/GLOB]
The concerns that Iran may shut the Strait of Hormuz, through which around 20% of global oil and gas flows, triggered fears of a supply disruption.
Goldman Sachs highlighted potential threats to the worldwide energy supply due to these worries and stated this could result in substantial increases in both oil and natural gas prices.
Elevated crude oil prices pose a challenge for India, heavily dependent on imported energy, potentially stoking inflation and enlarging the government’s budget shortfall.
The surge in oil prices could also be detrimental to corporate earnings growth as they could raise input costs.
India's benchmark indexes rose about 1.6% last week, driven by gains in financials.
STOCKS TO WATCH
** Information technology companies will be in focus due to concerns over persistent weakness in technology spending as global software major Accenture posted third consecutive quarter of yearly decline in outsourcing orders
Bharat Electronics has received orders totaling 5.85 billion rupees ($67.6 million) for fire control systems, missile sighters, communication gear, jamming devices, components, and support services.
($1 = 86.5600 INR)
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala)