Williams CEO: Data centers, AI are accelerating power needs like we've never seen
Alan Armstrong, Williams CEO, joins CNBC's 'Money Movers' to discuss why natural gas has been pressured, expectations for demand in the coming months, and more.
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CNBC
6 minutes ago
- CNBC
OpenAI tops 3 million paying business users, launches new features for workplace
OpenAI on Wednesday announced that it now has 3 million paying business users, up from the 2 million it reported in February. The San Francisco-based startup rocketed into the mainstream in late 2022 with its consumer-facing artificial intelligence chatbot ChatGPT, and began launching workplace-specific versions of the product the following year. The 3 million users include ChatGPT Enterprise, ChatGPT Team and ChatGPT Edu customers, OpenAI said. "There's this really tight interconnect between the growth of ChatGPT as a consumer tool and its adoption in the enterprise and in businesses," OpenAI's chief operating officer Brad Lightcap told CNBC in an interview. The company supported 400 million weekly active users as of February. OpenAI expects revenue of $12.7 billion this year, a source confirmed to CNBC. In September of last year, the company expected to see an annual loss of $5 billion on $3.7 billion in revenue, according to a person close to the company who asked not to be named because the financials are confidential. Lightcap said OpenAI is seeing its business tools adopted across industries, including highly regulated sectors like financial services and health care. Companies including Lowe's, Morgan Stanley and Uber are users, OpenAI said. The company also announced new updates to its business offerings on Wednesday. ChatGPT Team and ChatGPT Enterprise users can now access "connectors," which will allow workers to pull data from third-party tools like Google Drive, Dropbox, SharePoint, Box and OneDrive without leaving ChatGPT. Additional deep research connectors are available in beta. OpenAI launched another capability called "record mode" in ChatGPT, which allows users to record and transcribe their meetings. It's initially available with audio only. Record mode can assist with follow up after a meeting and integrates with internal information like documents and files, the company said. Users can also turn their recordings into documents through the company's Canvas tool. Lightcap said enterprise customers have been asking for updates like these, and that they will help make OpenAI's workplace offerings more useful. "It's got to be able to do tasks for you, and to do that, it's got to really have knowledge of everything going on around you and your work," Lightcap said. "It can't be the intern locked in a closet. It's got to be able to see what you see." OpenAI said it has been signing up nine enterprises a week, and Lightcap said the company will try to sustain that pace over time. "People are starting to really figure out that this is a part of the modern tool stack in the knowledge economy that we live in," he said.
Miami Herald
39 minutes ago
- Miami Herald
High-end retailer buys bankrupt specialty online shop
When I worked in higher ed, I learned quite a few things myself. Or rather, I had to relearn some things that had evolved since I was a student. For example, we weren't supposed to call the newest students 'freshmen.' They were first-year students now. And there were always the gentle reminders that it wasn't a dorm, it was a residence hall. Don't miss the move: Subscribe to TheStreet's free daily newsletter That last one was more than just potayto, potahto. It was about the experience. A dorm was just for sleeping, but a residence hall was about building community and offering students the chance to learn and grow with their peers outside of the classroom. Related: Another popular furniture company files for Chapter 11 bankruptcy Retailers hawking back-to-campus products would appear to have not gotten the memo about dorms now being called residence halls, though. And to be fair, things like compact storage solutions and cute bedding and decor are all about making the actual dorm room experience more comfortable. While the retail world's choice of words might not always align with what's preferred on campus, one retailer has shown that it has a finger on the pulse of what college students need. Williams-Sonoma (WSM) has announced the acquisition of Dormify, a retailer specializing in bedding, decor, and storage solutions tailored to the needs of college students and other young adults living in tight quarters. 'The acquisition of Dormify's intellectual property aligns with our strategy to build and acquire brands that meet customers at every stage of life across various aesthetics,' said Williams-Sonoma, Inc. President and CEO Laura Alber in a statement. 'We look forward to integrating our operational excellence, in-house design capabilities, digital expertise, and world-class customer service into Dormify to accelerate the brand's growth and scale its reach.' Dormify was founded in 2011 by mother-daughter duo Karen and Amanda Zuckerman. It started as a campus lifestyle blog focused on furniture and decor for college dorms and eventually launched a line of related products. The online company grew through partnerships with major retailers, including The Container Store, Macy's, Office Depot, and American Eagle. American Eagle even led a $3.45 million Series A investment in 2018, per Retail Dive. Still, Dormify declared Chapter 11 in November 2024. And Williams-Sonoma spotted a greater opportunity to reach the Gen Z market. The Education Data Initiative reports that there will be 19.57 million undergraduate students enrolled this fall, up from 19.28 million last fall. While not all of them will be living on campus, it's still a sizeable market to tap into. Acquiring Dormify isn't the only indication of the Williams-Sonoma family of brands' attempt to capture more Gen Z customers, who are still years away from buying a set of Le Creuset cookware. Pottery Barn Teen also recently introduced Dorm Concierge, a new service for customers to pick up dorm product purchases near their campus or at any of the 450 participating locations, including Williams Sonoma and West Elm stores. This summer, select Pottery Barn and Pottery Barn Kids stores will house a 'Dorm Shop' to send students off to campus in stylish comfort. Related: Sephora unveils new brand partnership Gen Z will love But even though there's a fresh set of incoming students every year, they will soon age out of that customer demographic. In 2024, Amanda Zuckerman told Entrepreneur, 'It's hard because we have a new customer every single year. So it's not just about acquiring them and continuing to nurture that customer. It's acquiring a new customer every single year.' Of course, by nurturing this fresh batch of consumers every summer, Williams-Sonoma is hoping that they will eventually graduate into its other brands. More retail: Nike turns to unexpected brand in desperate bid to win back Gen ZAfter bankruptcy, closed clothing chain hints at comebackT-Mobile makes unexpected move to lure customers from competitors Dormify's current home page announces: 'We appreciate your patience while we work on a new assortment and site experience designed to inspire your next dorm room. In the meantime, check out Pottery Barn Dorm for our latest collection of bedding and decor.' The FAQ page states that Williams-Sonoma cannot offer support for past Dormify orders, and gift cards and rewards are invalid. Williams-Sonoma plans to relaunch Dormify in 2026. No word yet on whether there are plans to change the name to Residentialhallify. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
an hour ago
- Yahoo
Greystone Expands FHA Lending Team with the Addition of Corley Audorff and Josh Williams
NEW YORK, June 04, 2025 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced today that Corley Audorff and Josh Williams have joined the firm as Directors. Both based in Atlanta, GA, Mr. Audorff and Mr. Williams will focus on loan originations for multifamily and seniors housing / healthcare assets, reporting to Field Springer, Chief Operating Officer of Greystone's FHA Lending platform. Mr. Audorff brings over 15 years of experience in real estate finance, most recently serving as a Senior Vice President of Production at Colliers Mortgage from 2022 to 2025, where he focused on HUD/FHA, Fannie Mae, USDA and proprietary lending financing solutions for clients. Prior to his role at Colliers, Mr. Audorff served as a Vice President at PGIM Real Estate, where he specialized in HUD financing, and has also spent time as a Managing Director at Monticello Asset Management. Prior to his work in the private sector, Mr. Audorff served approximately seven years in various roles at the U.S. Department of Housing and Urban Development, including Senior Underwriter. Mr. Williams also joins from Colliers Mortgage, where he was a Vice President from 2022 to 2025. He previously served as a Senior Associate Loan Officer at PGIM Real Estate and as an Underwriter and Production Associate at Monticello Asset Management. His expertise spans multifamily and healthcare sectors, with a strong background in FHA-insured loan products. 'I'm thrilled to join Greystone, the #1 multifamily and healthcare HUD lender*, and work to continue our success together as a team, in multifamily and healthcare finance,' said Mr. Audorff. 'The company's depth of resources, integrated lending platform, and client-focused culture create an environment where I can contribute meaningfully to impactful transactions in the seniors housing and multifamily sectors.' 'Both Corley and Josh's combined depth of experience across the private and public sectors in multifamily and healthcare financing makes them an invaluable addition to our lending team,' said Mr. Springer. 'Together, they strengthen our reach and capabilities in key asset classes and geographies.' About Greystone Greystone Servicing Company is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in volume for these sectors. Greystone loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit *For HUD's 2024 fiscal year. Based upon combined firm commitments of Greystone Funding Company LLC and Greystone Servicing Company LLC. PRESS CONTACT:Karen
