Blackstone executive killed in Manhattan attack a 'kind, extraordinary' leader
The 43-year-old mother of two tried to duck for cover behind a pillar in the lobby of 345 Park Avenue, the skyscraper office building that is home to Blackstone's 2,000 New York-based staff, while a gunman sprayed bullets, people with knowledge of the shooting said.
LePatner's death was random. Neither she nor the firm, which invests more than $1.2-trillion (R21.4-trillion) in assets, was specifically targeted when 27-year-old Las Vegas resident Shane Tamura shot her and three others before killing himself, police told Blackstone executives.
'Beloved' was a word Blackstone executives and community leaders used to describe LePatner, a woman colleagues said had pushed into the rarefied circle of top Wall Street real estate executives traditionally dominated by men.
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The South African
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- The South African
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The Citizen
21 hours ago
- The Citizen
Cops charged with kidnapping Chinese national out on bail
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IOL News
a day ago
- IOL News
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AI. Global leaders have entered the AI race. Image: File Image: IOL Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. "Massive results seen by Microsoft and Meta further validate the use cases and unprecedented spending trajectory for the AI Revolution on both the enterprise and consumer fronts," Wedbush tech analyst Dan Ives said in a note to investors. "We have barely scratched the surface of this 4th Industrial Revolution now playing out around the world led by the Big Tech stalwarts such as Nvidia, Microsoft, Palantir, Meta, Alphabet, and Amazon," Ives added. Amazon reported a 35 percent jump in quarterly profits as the e-commerce giant said major investments in AI technology are paying off. "Our conviction that AI will change every customer experience is starting to play out," said Chief Executive Andy Jassy, pointing to the company's expanded Alexa+ service and new AI shopping agents. But the Seattle-based company's profit outlook for the current quarter came in lower than hoped for, with investors worried that the cost of AI was weighing on the bottom line. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ This was despite a stellar second quarter that exceeded analyst expectations, much like it did for its AI-focused rivals Google, Microsoft and Meta, which posted bumper results for the period. Amazon's net sales climbed 13 percent, signaling that the company was so far surviving impacts of the high-tariff trade policy under US President Donald Trump. Amazon Web Services (AWS), the company's world-leading cloud computing division, led the charge with sales jumping 17.5 percent to $30.9 billion. Its strong performance reflects surging demand for cloud infrastructure to power AI applications, a trend that has benefited major cloud providers as companies race to adopt generative AI technologies. $4 trillion club Shares of Microsoft spiked Thursday following blowout quarterly results, lifting the tech giant into the previously unprecedented $4 trillion club along with Nvidia, another AI standout. The landmark valuation is the latest sign of growing bullishness about an AI investment boom that market watchers believe is still in the early stages -- even as companies like Microsoft plan $100 billion or more in annual capital spending to add new capacity. "Cloud and AI is the driving force of business transformation across every industry and sector," said Microsoft CEO Satya Nadella. At the heart of the results was a stunning surge in Azure, the company's cloud computing platform, which is getting "supercharged" with AI, said Angelo Zino, technology analyst at CFRA Research. Zino attributed "just about all of" Microsoft's recent climb in valuation to AI. Superintelligence? Meta reported robust second-quarter financial results Wednesday, with revenue jumping 22 percent year-over-year as the social media giant continues investing heavily in artificial intelligence. "We've had a strong quarter both in terms of our business and community," said CEO Mark Zuckerberg. "I'm excited to build personal superintelligence for everyone in the world." Zuckerberg has embarked on a major AI spending spree, poaching top researchers with expensive pay packages from rivals like OpenAI and Apple as he builds a team to pursue what he calls AI superintelligence. Hours before the earnings report, Zuckerberg insisted that the attainment of superintelligence -- technology that would theoretically be more powerful than the human brain -- is now "in sight." Meanwhile Apple, which is seen as lagging in the AI race, beat expectations with earnings driven by strong iPhone sales despite US tariffs costing the company $800 million in the recently-ended quarter. Apple expects Trump's tariffs to cost the iPhone maker $1.1 billion in the current quarter. "The results show that Apple's iPhone strategy is working to offset the impact of looming challenges with AI development timelines, tariff pressures, and Google's antitrust issues," said Emarketer tech analyst Jacob Bourne.
