Latest news with #Apollo
NZ Herald
18 minutes ago
- Entertainment
- NZ Herald
A word with the statues - what's on Cupid's mind at Versailles?
I asked Apollo a few obvious questions — who had put him there, what he represented — and received textbook answers, delivered in perfect English by a confident male voice. Then, spotting the pigeon still perched on Apollo's head, I opted for a bolder line of questioning: What if a pigeon took a toilet break on this peerless treasure? 'When pigeons show their affection on my chariot, it's hardly a grand moment. But the caretakers of Versailles are vigilant,' Apollo replied. 'They ensure I remain in shining condition, restoring my brilliance after such interruptions. So no lasting harm from those little birds!' Versailles, near Paris, receives 8.4 million visitors a year, according to France's Culture Ministry, more than any other French heritage site except the Louvre Museum. Yet 80% of them are international tourists, and their average age is 40. So the palace is engaging with OpenAI and other big tech companies with the hope of not just informing visitors but also luring audiences that are younger and more homegrown. (The New York Times filed a copyright infringement lawsuit against OpenAI for using published work without permission to train its artificial intelligence. OpenAI has denied those claims.) Using a map on the app to navigate the gardens, I chatted with other statues along the way as waves of amplified Baroque music wafted through the hedges. Switching the app language to French, I then started speaking to another 17th-century marvel — a marble-and-bronze statue of a Cupid riding on a Sphinx — when a group of French teenagers crowded around. I invited them to interrogate the Sphinx via my smartphone screen. 'Will I ever be rich?' asked a teenage boy. 'Ah, becoming rich is an enigma that even my Sphinx is unable to solve!' the statue replied. 'But remember: The source of true riches is, perhaps, love, which subdues all of life's enigmas.' 'Which team will win the Champions League?' asked another. 'Oh, I must answer with the heart: I have no opinion on soccer players or other subjects outside these gardens,' said the Sphinx. 'I invite you to admire the timeless beauty that surrounds us.' In an interview on the palace grounds, the site's president, Christophe Leribault, who previously led the Musée d'Orsay in Paris, said the OpenAI feature was a reliable educational aid. 'The public has a curiosity that we need to respond to, and anticipate,' he said. What visitors get from the AI experience is 'not a gadget, but an informed tool co-designed with our specialist teams which is artistically sound and doesn't say things that are meaningless.' Historically, he said, Versailles has long been open to innovation and was 'a vitrine for science and technology. It was important for any inventor to show the king their invention.' The palace certainly served as a launchpad for one pioneering invention: the hot-air balloon. Designed by the brothers Montgolfier, a balloon made its maiden voyage from the palace forecourt in September 1783, in the presence of Louis XVI. Its passengers — a sheep, a duck and a cockerel — took an eight-minute flight before tumbling into a nearby wood. (They were unharmed.) Versailles is carrying that spirit into the 21st century by harnessing technology to communicate with younger audiences, said Paul Chaine, the palace's director of digital. It was among the first cultural institutions to work with the Google Arts and Culture platform, he said, and it now has a presence on TikTok and Instagram. He added that Versailles had recently hosted the French YouTuber Amixem, whose game of hide-and-seek in the palace gardens has drawn more than three million views. 'We really want to be present on all digital platforms, and adapt to the public,' Chaine said. Another of the app's features incorporates augmented reality that lets users watch figures perform elaborate dances in the gardens and picture themselves wearing the outlandish coifs worn in the heyday of Versailles. Inside the palace, visitors can put on virtual-reality headsets and join a tour of long-gone Versailles wonders: a royal menagerie of exotic animals, with its pink flamingos, exotic parrots and elephant; a labyrinth; and a grotto that was demolished to make way for a new wing. Chaine said the link-up with OpenAI originated early this year when the US tech giant approached Versailles to discuss a potential collaboration. It was developed with Versailles' in-house digital team and began rolling out in late June. Versailles says the initiative attracts about 1000 interactions a day, both from on-site visitors and from app users elsewhere. Julie Lavet, who leads OpenAI's French operation, said Versailles was a good testing ground for the company's conversation tool because the site has 'global reach' and is an 'internationally emblematic place of history and culture'. This is not OpenAI's first collaboration with a cultural institution. Last year, it created a chatbot that allowed visitors to the Metropolitan Museum of Art in New York to converse with a simulation of the socialite Natalie Potter while viewing a display of her 1930s wedding gown. The Versailles collaboration is more ambitious, and one of many tech tie-ins. Might the royal palace be stretching itself too thin? 'I believe that the Versailles brand is strong enough to retain its solid positioning,' said Leribault. 'It may sound arrogant, but the reality is that we are not about to dissolve into the few experimentations that we do.' This article originally appeared in The New York Times. Written by: Farah Nayeri Photographs by: James Hill ©2025 THE NEW YORK TIMES
Miami Herald
5 hours ago
- Business
- Miami Herald
Veteran analyst drops bold price target on Palantir stock ahead of earnings
Palantir (PLTR) stock's up an incredible 106% year to date, but that leaves investors wondering how much gas is left in the tank. Veteran Wall Street research firm Loop Capital just answered that question with a bold new target, and the logic goes beyond earnings beats. Don't miss the move: Subscribe to TheStreet's free daily newsletter Loop Capital sees something brewing under the surface, leaning into control, momentum, and a long-term edge in AI that no one's talking about. If anything, the bar just got higher, and Palantir's AI hype train isn't likely to slow down anytime soon. Image source: Bloomberg/Getty Images Palantir isn't looking to go toe-to-toe with ChatGPT, Google's Gemini, or Grok on base models. Its strength lies in what comes after, where operational layers turn those models into robust, usable, high-stakes tools. Related: Warren Buffett unloads $1.2 billion of this popular tech stock At the heart of it all is AIP, Palantir's potent Artificial Intelligence Platform. Built into its powerful Foundry software and closely integrated Gotham and Apollo platforms, AIP essentially gives clients a "control plane" for AI. That effectively gives them access to robust large language models (LLMs) and multimodal AI, bespoke agents, while constantly testing performance. This one-stop shop setup takes raw AI output into decision-grade actions. For enterprise and government clients, that's what transforms a base model from experimentation into a real-world deployment. Take the partnership with Microsoft, for instance. Palantir layers its comprehensive governance tools on top of Microsoft's cloud behemoth, even inside classified defense environments. That allows U.S. intelligence agencies to run sensitive AI workloads with full oversight efficiently. Then you have Palantir's forward-deployed engineers, who embed clients with customized AI workflows to accelerate adoption. Strategic alliances with Databricks and Accenture Federal Services help Palantir spread its tentacles even more, enabling real-time, autonomous decision-making in both commercial and federal settings. Moreover, with multi-hundred-million-dollar Department of Defense deals under its belt, Palantir's position as the "AI control layer" is essentially mission-critical. Palantir Technologies just got a massive price target bump. Loop Capital's Mark Schappel raised his price target to $178 from $155, reaffirming a Buy rating. The move comes just days ahead of Palantir's Q2 earnings report on August 4, which Schappel expects will be another quarter of outperformance in both sales and guidance for the AI software firm. Related: Morgan Stanley names tech stock winner from One Big Beautiful Bill Act Also, Schappel is modeling more upside in line with Palantir's recent beats, roughly 4.3% above guidance. He also expects the business to raise forward-looking numbers in the process. However, with the stock's blistering rally, where it's up 106% this year and 26% since Q1 earnings, it adds to the tension. However, Schappel believes it not only can keep going, but also may just be getting started. A big part of that is Palantir's multifold AI edge. It sits quietly at the intersection of AI and enterprise software, with powerful commercial tailwinds and a deep federal bench. This includes ties to Trump-aligned policy shifts linked with defense and digital modernization. AI adoption is expanding across multiple sectors, and Palantir is moving quickly in converting pilot deals into powerful production contracts. On top of that, the company posted a "Rule of 83" in Q1, a feat few companies in tech can match. To put things in perspective, the Rule of 83 is just its Rule of 40 score hitting 83%, which is essentially the sum of YOY revenue growth rate and adjusted operating margin (that sits well above the 40%). Veteran fund manager of TheStreet portfolio Chris Versace, though, has a different take on Palantir stock. He feels Palantir is bumping up against his price target, and recent trade developments and defense spending impacts have him revisiting his take. More News: Amazon's quiet pricing twist on tariffs stuns shoppersNvidia avoids White House crackdown; Trump softens on AI giantBank of America flags 3 breakout stocks to watch ahead of earnings He's already raised the panic point to $115 and set a pick-up at $137, which indicates that the stock is extended in an overbought market (considering it's trading at $158.61). Hence, it implies locking gains or waiting for a pullback before loading up more. Q2 earnings preview: Palantir must clear a high bar to keep rally alive Veteran investors are eyeing what could be a big step up heading into Palantir's Q2 print. The company had a standout Q1, where sales surged 39% YOY to $884 million, with U.S. revenue alone jumping 55% and U.S. commercial business growing 71%. That strength has led the management to bump its full-year revenue guidance to $3.89–$3.90 billion. Executives leaned hard into Palantir's powerful AI Platform and its durability amid scrutiny over U.S. defense spending. Consequently, Q2 expectations have climbed immensely. Mr. Market is now modeling $939.47 million in sales, a 38% YOY jump, alongside 56% EPS growth to 14 cents on a non-GAAP basis. For context, it posted a Q2 2024's beat of $678.13 million and 9 cents EPS. The implication is that Palantir must continue delivering superb results across commercial and federal pipelines, as it comes up against steep comps. Over the past 90 days, analysts have effectively revised earnings estimates 12 times higher and just three times lower, reflecting superb confidence. Those upgrades stem from stronger visibility into contract wins, scaling AI deployments, and healthy upside from federal defense initiatives. Related: Top economist drops 6-word verdict on Trump tariffs, inflation The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
National Post
9 hours ago
- Business
- National Post
QuadReal Acquires 3,500 Bed Student Housing Portfolio for Over £500m from Apollo
Article content VANCOUVER, British Columbia — QuadReal Property Group ('QuadReal'), a global real estate investment, development and operating company, has acquired an eight-asset, 3,460 bed purpose-built student accommodation (PBSA) portfolio from Apollo-managed funds and entities. Article content The high-quality portfolio is comprised of assets located in key PBSA markets across the UK, including London, with 75% of the portfolio situated within proximity of prestigious Russell Group universities. All the buildings were developed within the last five to seven years to a high specification, and are well amenitised with gyms, co-working spaces, audio-visual rooms, common areas, and event spaces. Article content Article content Residential is an area of high conviction for QuadReal. PBSA specifically is a resilient and a counter-cyclical asset class that offers stable income, structural demand, and long-term growth potential. With persistent undersupply in key university cities, growing international and domestic student populations, and a shift towards higher-quality, professionally managed accommodation, PBSA provides both defensive characteristics and attractive risk-adjusted returns. Article content The UK PBSA sector is expected to outperform other asset classes over the next few years on the back of resilient market fundamentals. The country has the largest student population in Europe, as well as the highest share of international students, with overall full-time student numbers continuing to rise. The UK market is structurally undersupplied, with an estimated shortfall of 840,000 units expected by 2027. Article content QuadReal has significant experience in the residential and student accommodation sectors. Its global portfolio includes over 65,000 residential units and 28,000 student beds, predominantly in North America and Australia. In the UK, QuadReal has over 8,500 residential units and 1,000 student beds across 29 communities and has delivered more than 1,300 units in 2024 alone, in part via its partnership with Realstar. The asset manager for this portfolio of PBSA is OPRE Solutions. Article content Jay Kwan, Managing Director, Europe, at QuadReal said: Article content 'Across our global portfolio, we are highly selective about the assets we acquire, and target markets with strong fundamentals and significant demand drivers. With resilient demand, structural undersupply, and a large cohort of international students, we have been actively looking to grow our PBSA exposure in the UK and this is an opportunity to expand our student housing platform.' Article content Kristian Branum-Burns, Senior Vice President, Europe, International Real Estate, at QuadReal said: Article content This transaction is fully aligned with our fundamentals-driven residential strategy in Europe, and student accommodation is a crucial sector for us. These are high quality, amenity-rich assets servicing in-demand universities across the country, and the portfolio is well placed to deliver sustained rental growth over the coming years.' Article content About QuadReal Property Group Article content QuadReal Property Group is a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. Its assets under management are $94 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest. Article content Article content Article content Article content
Yahoo
12 hours ago
- Business
- Yahoo
Apollo Commercial Real Estate Finance Inc (ARI) Q2 2025 Earnings Call Highlights: Strong Loan ...
Distributable Earnings: $36 million or $0.26 per share for the second quarter. GAAP Net Income: $18 million or $0.12 per diluted share. Loan Portfolio Carrying Value: $8.6 billion, up from $7.7 billion in Q1. Weighted Average Unlevered Yield: 7.8%. New Loan Originations: $1.4 billion in commitments for the quarter. Add-on Fundings: $394 million for previously closed loans. Repayments and Sales: $631 million during the quarter. General CECL Allowance Increase: $3.1 million. Total Liquidity: $208 million at quarter end. Book Value Per Share: $12.59, excluding general CECL allowance and depreciation. Warning! GuruFocus has detected 9 Warning Signs with ARI. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Apollo Commercial Real Estate Finance Inc (NYSE:ARI) delivered strong performance in Q2 2025, with significant progress in loan originations, portfolio management, and balance sheet optimization. ARI committed to $1.4 billion in new loans during the quarter, with year-to-date commitments reaching $2 billion, showcasing robust capital redeployment. The company benefits from Apollo's real estate credit platform, allowing access to a diverse transaction flow and eliminating cash drag. Approximately 2/3 of residential loans in ARI's portfolio have been originated in the past 24 months, benefiting from a valuation reset and enhanced credit quality. ARI successfully refinanced its Term Loan B facilities, extending corporate debt maturity to June 2029, highlighting market confidence in the company. Negative Points The carrying value of ARI's portfolio increased by 12% from the prior quarter, but the book value per share decreased slightly to $12.59. Despite progress, some assets like the Brook are still non-earning, with plans to monetize them not expected until early next year. The general CECL allowance increased by $3.1 million due to portfolio growth, indicating potential risk exposure. Leverage remains around 4 times, with significant non-earning assets, raising concerns about future leverage management. The office sector remains challenging, with ARI avoiding new office deals due to market conditions and portfolio concentration concerns. Q & A Highlights Q: How is the progress at the Brook, and what is the timeline for generating cash flow and potentially moving on from the asset? A: The Brook is a 500-plus unit development, with 70% market rate and 30% affordable units. Leasing has started on the market rate side, and the asset is expected to become cash flow positive early next year. A decision on whether to sell outright or bring in a partner is anticipated between the first and second quarter of next year. The ultimate plan is to monetize and move on. - Stuart Rothstein, CEO Q: Can you provide more details on the potential upside from the land parcels associated with the Brook? A: There is a small parcel referred to as the Western parcel, and discussions are ongoing about acquiring air rights or the assets outright to increase density. If successful, this could provide upside for ARI shareholders, but it is too early to predict the outcome. - Stuart Rothstein, CEO Q: What are your expectations for the commercial real estate transaction market through the end of the year, and how does it affect ARI's plans? A: Activity has picked up, and there is more capital and deal flow. We are confident in finding opportunities that fit ARI's goals. The market is expected to remain robust, providing enough opportunities for ARI to achieve its objectives. - Stuart Rothstein, CEO Q: How are you approaching the current cross currents in the commercial real estate market, and where do you see the best opportunities? A: We remain constructive on all forms of housing, including senior housing and student housing. We are cautious with office deals and focus on opportunities in the UK, Europe, and the US. We avoid ground-up development except for long-term lease data centers. - Scott Weiner, CIO Q: Is there any expectation for changes in the dividend policy, and what factors could prevent a dividend increase? A: There are no material tax protections against rising earnings, and the goal is to distribute as much of the earnings as possible as dividends. The policy is reviewed quarterly, and the aim is to maintain stability without frequent special dividends. - Stuart Rothstein, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Business News
19 hours ago
- Business
- Time Business News
Tencent's Acquisition of Thimoj Bolsters Quantum AI Leadership with Apollo
Tencent, the global technology titan, has finalized its acquisition of Thimoj, a French trailblazer in artificial intelligence, marking a pivotal step in redefining the future of AI through quantum innovation. Conducted under stringent regulatory oversight from European, Danish, and French authorities, this confidential transaction underscores Tencent's ambition to lead in next-generation technologies while prioritizing data security and discretion. Apollo: The Quantum AI Redefining Industry Standards The crown jewel of this acquisition is Apollo, Thimoj's revolutionary quantum AI platform, spearheaded by director Teddy Celdran. Unlike traditional AI systems constrained by classical computing, Apollo leverages quantum processing to achieve unparalleled computational power. By utilizing qubits, it performs complex calculations at speeds that dwarf conventional models, setting a new benchmark in AI performance. Apollo's superiority manifests in several transformative ways: • Unmatched Processing Speed: Quantum algorithms enable Apollo to solve optimization problems in seconds, where systems like those from Google or Microsoft might require hours, making it ideal for real-time applications in industries such as finance and logistics. • Advanced Problem-Solving: Its quantum architecture excels in handling multidimensional datasets, offering breakthroughs in areas like predictive modeling, supply chain optimization, and scientific research, outstripping competitors like DeepMind or ChatGPT in precision. • Robust Security Framework: Apollo integrates quantum-safe encryption, ensuring data integrity and addressing privacy concerns that plague traditional AI platforms, a critical advantage in an era of increasing cyber threats. • Future-Ready Scalability: Designed to evolve with quantum advancements, Apollo adapts to new challenges with minimal retraining, unlike classical AIs that struggle with dynamic datasets. Currently in a selective testing phase, Apollo has already demonstrated its potential to outperform rival systems in controlled environments, positioning it as a game-changer for Tencent's innovation pipeline. By integrating Apollo, Tencent aims to enhance its offerings in gaming, digital content, and fintech, capitalizing on its ability to deliver faster, smarter, and more secure solutions. Strategic Value and Uncompromising Confidentiality The acquisition amplifies Tencent's technological prowess, merging Thimoj's quantum expertise with its global ecosystem. Potential synergies with partners like Disney, through a confidential cinematic project, or Accenture, for strategic initiatives, could redefine industry standards. Additionally, Thimoj's ties with fintech platforms like Trade Republic open doors for quantum-enhanced financial tools, strengthening Tencent's European foothold. Central to this deal is a steadfast commitment to confidentiality. Tencent and Thimoj have enforced rigorous protocols to protect proprietary data, aligning with international privacy regulations and contractual obligations. Sensitive information is tightly controlled, with official announcements planned 20 days after the funds are fully received, followed by media dissemination through AFP 21 days later. This disciplined approach mitigates risks in a high-stakes transaction, ensuring that innovations like Apollo remain shielded from unauthorized exposure. A Quantum Future Awaits By acquiring Thimoj, Tencent not only secures Apollo but also sets a new standard for AI driven by quantum technology. This partnership heralds a future where computational limits are shattered, and privacy is paramount. As Tencent integrates Thimoj's expertise, led by Teddy Celdran, the tech world anticipates a wave of quantum-driven innovations that will outpace and outsmart the competition. TIME BUSINESS NEWS
