Stock Pick

  • Bell Potter names more of the best ASX 200 stocks to buy in June

    If you are hunting some new additions to your portfolio in June, then the ASX 200 stocks listed below could be worth a look.

    They have both been named as favoured shares by Bell Potter for the month ahead. The broker notes that these are the shares that it believes “offer attractive risk-adjusted returns over the long term.”

    In addition, Bell Potter highlights that when choosing its picks it considers the current macro-economic backdrop and investment environment, focusing on quality companies with proven track records, capable management, and competitive advantages.

    You can read about the first three ASX 200 stocks on the list here. Let’s now take a look at two more of the broker’s top picks:

    Regis Resources Ltd (ASX: RRL)

    This gold miner could be one of the best ASX 200 stocks to buy this month according to Bell Potter.

    Regis Resources is a multi-mine gold producer with all its operating mines located in Western Australia. Its flagship project is the Duketon Gold Project and produces ~300k ounces per annum.

    Bell Potter believes these assets are very attractive and could make the miner a takeover target in the future. It commented:

    As one of the largest ASX listed gold producers, we are attracted to its all-Australian asset portfolio and organic growth options which are unique at this scale. Furthermore, we see key opportunities in the fundamental, medium-term outlook and, in our view, these may also make RRL an appealing corporate target in the current conducive M&A environment.

    The broker has a buy rating and $2.80 price target on its shares.

    ResMed Inc. (ASX: RMD)

    Another ASX 200 stock that could be a best buy this month is ResMed.

    It is a medical device company specialising in the obstructive sleep apnoea (OSA) market.

    Bell Potter notes that this is a lucrative market to be in, with the OSA market growing in the high-single digits. And as ResMed is the largest player in the field, it stands to benefit greatly from its growth. It commented:

    The market for OSA and chronic obstructive pulmonary disease (COPD) remains under penetrated, and we expect industry volume growth to continue in the 6-8% range for the foreseeable future. In this regard, the competitive dynamics are very much in favour of RMD due to the Philips recall and improving semiconductor availability. Furthermore, ResMed is well-positioned to build on its dominant share even after Philips returns to the global market, with the launch of its latest continuous positive airway pressure (CPAP) device, the Air Sense 11.

    The broker has a buy rating and $36.00 price target on the ASX 200 stock.

    The post Bell Potter names more of the best ASX 200 stocks to buy in June appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Resmed Inc. right now?

    Before you buy Resmed Inc. shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Resmed Inc. wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • NYPD preparing to revoke Trump’s license to carry 3 pistols: report

    Donald Trump

    Pool/Getty Images

    • Former President Donald Trump is a convicted felon after the recent verdict in the hush-money trial.
    • That makes possession of a firearm a federal crime.
    • Trump's New York license to carry a concealed weapon was already suspended last year, CNN reported.

    Former President Donald Trump's New York license to carry a weapon is likely about to be revoked by the New York Police Department, CNN reported.

    A senior police official told CNN that the NYPD is preparing to strip away the former president's license following his recent conviction in the hush-money trial. On May 30, a Manhattan jury found Trump guilty of 34 felony counts related to payments made to Stormy Daniels.

    Trump's felon status makes possession of a firearm a federal crime.

    A spokesperson for the NYPD did not immediately comment on the CNN story.

    Multiple law enforcement sources told CNN that Trump had a concealed carry license from the NYPD for more than a decade.

    However, the license was suspended last year on April 1, 2023, after a New York grand jury voted to indict the former president, the senior police official told CNN.

    The official told the outlet that Trump had a license to carry three pistols. Two of them were turned in to the police department on March 31, 2023, while the third gun "was lawfully moved to Florida," the source told CNN.

    Trump's recent conviction could put him in violation of state and federal laws if he still possesses the third weapon.

    The senior police official told CNN that NYPD's Legal Bureau is conducting an investigation "that will likely lead to revocation of his license."

    New York state law allows individuals to challenge a license revocation within 90 days of receiving the notice.

    A spokesperson for Trump did not respond to a request for comment.

    Read the original article on Business Insider

  • How much passive income could I earn by investing $100 a month in ASX shares?

    Man holding different Australian dollar notes.

    Investing $100 into ASX shares each month might not sound like it could grow into something significant.

    Particularly if you want to generate passive income.

    After all, with an average dividend yield of 4%, a $100 investment would yield just $4 of dividend income.

    However, you might be surprised to learn that by investing consistently each month for a long period, you could grow your wealth materially.

    This is thanks to the magical power of compounding, which is what happens when you earn interest on interest or returns on returns.

    Turning $100 a month into passive income with ASX shares

    As I mentioned above, the key to growing your wealth is investing this relatively modest sum consistently. This allows you to take full advantage of compounding. But how much could it grow into one day?

    Well, historically the share market has generated an average return of 10% per annum. While there is no guarantee that this will be the case in the future, we’re going to base our assumptions on this level of return.

    With that in mind, if you were to invest $100 a month into ASX shares and earned the market return, you would see your investments grow to become worth approximately $20,000 in 10 years.

    While you could generate some passive income at this stage, it really would be worth continuing to invest to grow your portfolio further. Especially now compounding is starting to show its power.

    If you were to keep going for a further 10 years, bringing us to 20 years in total, your portfolio would have a market value of approximately $72,000.

    Now you have a choice. You could switch your focus to income and invest in high yielding ASX dividend shares that average 6% yields. This would lead to passive income of around $4,500.

    Alternatively, you could keep going with your $100 a month investments. This option certainly could be worth it. That’s because after another 10 years your portfolio would be worth almost $210,000.

    At that point, a 6% dividend yield would generate passive income of $12,600.

    Other options

    Investors have plenty of options to speed up the process.

    For example, if you were to invest $250 a month, all else equal, your portfolio would be worth $50,000 in 10 years, $180,000 in 20 years, and then $520,000 in 30 years. This would position you to generate significantly more passive income from your ASX shares.

    Alternatively, investors could increase their contributions as the years go by and their salaries increase.

    Ultimately, the keys to success are investing smartly, consistently, and patiently.

    The post How much passive income could I earn by investing $100 a month in ASX shares? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in S&P/ASX 200 right now?

    Before you buy S&P/ASX 200 shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and S&P/ASX 200 wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why Nvidia stock blasted to a $3 trillion market cap on Wednesday

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    Shares of Nvidia (NASDAQ: NVDA) surged higher (again) on Wednesday, jumping as much as 5.2%. At the end of the day, the stock was still up 5.2%, putting its market cap above $3 trillion for the first time.

    Several developments in the field of artificial intelligence (AI) helped fuel the stock’s relentless rise.

    The poster child for AI

    As the leading provider of graphics processing units (GPUs) used in artificial intelligence (AI), it seems any bit of positive news in the space can be a catalyst for Nvidia stock. The phenomenon was in full view today.

    News broke that Taiwan Semiconductor Manufacturing, also called TSMC, is purchasing a high-NA extreme ultraviolet machine from ASML. This marks the latest in AI chipmaking technology, and Nvidia is TSMC’s second-largest customer, giving it full access to this top-of-the-line tech.

    In an unrelated development, Hewlett Packard Enterprise reported the results of its fiscal second quarter (ended April 30), and the results blew past even the most bullish expectations. While the company generated modest year-over-year gains, it cited growing demand for AI as the catalyst for its better-than-expected results.

    What’s good for the goose…

    What do these developments have to do with Nvidia? Nothing, at least not directly. However, it does illustrate that the demand for AI continues to accelerate, bolstering the theory that it’s still very early days for AI. Consequently, what’s good for AI seems to be good for Nvidia.

    The company has been among the biggest beneficiaries of AI adoption, as Nvidia’s processors are the gold standard for AI use cases. While estimates vary, Nvidia is credited with a market share of roughly 90% of the AI chip market.

    Finally, excitement has reached a fever pitch ahead of Nvidia’s 10-for-1 stock split, which is scheduled to take place after the market close on Friday.

    The adoption of generative AI continues to gain steam. While estimates vary wildly, the size of the market is expected to be between $2.6 trillion and $4.4 trillion in the coming years, according to global management consulting firm McKinsey & Company.

    The growing body of evidence suggests there’s still plenty of room left for Nvidia to run.

    This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

    The post Why Nvidia stock blasted to a $3 trillion market cap on Wednesday appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Nvidia right now?

    Before you buy Nvidia shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nvidia wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks *Returns as of 5 May 2024

    More reading

    Danny Vena has positions in Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ASML, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool Australia has recommended ASML and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 3 ASX 200 shares with ex-dividend dates next week

    A few ASX 200 shares are due to go ex-dividend soon. When this happens, it means that the rights to an upcoming dividend are settled.

    As a result, if you are not on its share registry when the ex-dividend date is reached, you won’t be receiving the dividends when they are paid.

    With that in mind, let’s now take a look at three ASX 200 shares that have ex-dividend dates next week.

    Here’s when you will need to buy their shares if you want to receive these dividends:

    ALS Ltd (ASX: ALQ)

    Last month, this testing services company released its FY 2024 results and revealed a 6.8% increase in underlying revenue to $2,586 million.

    And while ALS posted a massive $278.3 million decline in statutory net profit after tax to just $12.9 million, this was predominantly due to impairments and restructuring provisions, as well as other one-off items.

    This didn’t stop the ALS board from declaring a final dividend of 19.6 cents per share, which represents a payout of $94.9 million.

    If you want to receive this dividend, you will need to buy the ASX 200 share before it trades ex-dividend on 12 June. After which, you can look forward to receiving the partially franked dividend next month on 2 July.

    Champion Iron Ltd (ASX: CIA)

    Another ASX 200 share that released its FY 2024 results last month was Champion Iron. The Canadian iron ore miner reported FY 2024 revenue of C$1,524 million and EBITDA of C$553 million.

    This allowed the Champion Iron board to declare a 10 Canadian cents (11 Australian cents) per share final dividend. Its shares will trade ex-dividend for this on 13 June. The company will then pay it to eligible shareholders on 3 July.

    Incitec Pivot Ltd (ASX: IPL)

    This agricultural chemicals and commercial explosives company reported its half year results in the middle of May.

    Incitec Pivot posted a net loss after tax including individually material items (IMIs) of $148 million. However, these IMIs were largely non-cash impairments of the fertilisers business.

    Net profit after tax excluding IMIs came in at $164 million for the six months. In light of this, the ASX 200 share was able to declare an unfranked interim dividend of 4.3 cents per share.

    Incitec Pivot’s shares will be going ex-dividend for this on 13 June. It is then scheduled to be paid to eligible shareholders three weeks later on 4 July.

    The post 3 ASX 200 shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Als Limited right now?

    Before you buy Als Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Als Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Tax time: If you have ASX shares, here’s what you need to know about franking credits

    Chances are that if you own ASX shares, or have ever been involved with the world of the ASX share markets, you would have heard about the wonders of franking credits and a ‘fully-franked dividend‘.

    Whenever you hear someone discussing ASX dividend investing, it will only be a matter of time until franking comes up.

    Franking is a unique feature of Australia’s tax system. And understanding franking and how it relates to personal finances is vital, particularly around this time of year when our tax lodgings are coming up.

    So, let’s start at the beginning.

    What are franking credits?

    Franking credits were first introduced in the 1980s to correct what many saw as an unfair point of our tax system.

    When a company pays a dividend, it can only do so from a pool of profits that have already been taxed at the corporate level. Before franking was introduced, dividend payments to shareholders were treated as ordinary income subject to income tax. This effectively meant they were taxed twice.

    Recognising that this practice of taxing dividends twice was arguably unfair, the Federal Government introduced franking. Put simply, if a company today pays a dividend from a pool of cash that has already been taxed, that dividend comes with a receipt of sorts that confirms the tax already paid. That ‘receipt’ is officially known as a franking credit (sometimes called an imputation credit).

    Those investors who receive these franking credits in recognition of the taxes that have already been paid can use them as a tax deduction against other income. If someone receiving the franking credits has no taxable income (a retiree, for example), they can claim the franking credits back as a cash refund.

    Franking and tax time

    Most ASX shares that pay dividends are taxed in Australia. As such, fully franked dividends are common on the ASX.

    Telstra Group Ltd (ASX: TLS), Woolworths Group Ltd (ASX: WOW) and BHP Group Ltd (ASX: BHP) are some examples of shares that almost always fork out fully franked dividends. As are most of the ASX banks, including the Commonwealth Bank of Australia (ASX: CBA).

    However, some companies have operations outside Australia and thus pay their taxes in other jurisdictions. If this is the case, these companies might only pay partially franked dividends or even completely unfranked dividends.

    Franking credits are very valuable to almost every ASX investor. For example, let’s say an ASX share pays out a fully franked dividend worth a yield of 5%. In this scenario, the grossed-up yield with the value of the franking credits included would be approximately 7.14%. That extra return can make a big difference to an investor’s wealth over time.

    Now, you might understand why almost every ASX investor loves a fully-franked dividend.

    So, if you have ASX shares, double-check the franking credits you are entitled to receive and be sure to include them on your tax return.

    The post Tax time: If you have ASX shares, here’s what you need to know about franking credits appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
    *Returns as of 5 May 2024

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    Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Jessica Chastain is selling her historic 4-bedroom apartment in New York City for $7.45 million. Take a look inside.

    Jessica Chastain
    Jessica Chastain.

    Daniele Venturelli/Getty Images

    • Jessica Chastain has listed her New York City apartment built in 1885 for $7.45 million.
    • The home was once owned by Leonard Bernstein, who wrote the music of "West Side Story" there.
    • It features four bedrooms, five fireplaces, and Tiffany Studio stained-glass windows.

    A historic apartment with celebrity ties has been listed for sale in New York City.

    Jessica Chastain, the actor known for her roles in "Scenes From a Marriage" and "The Help," has listed her 3,200-square-foot property in midtown for $7.45 million.

    The four-bedroom space has five fireplaces, a kitchen with a rolling ladder, Tiffany Studio stained-glass windows, and more luxury amenities. Here's a look inside.

    The New York City apartment being sold by Jessica Chastain is in midtown.
    The entrance to The Osborne, the building that houses Jessica Chastain's apartment.
    The entrance to The Osborne, the building that houses Jessica Chastain's apartment.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    It's located in The Osborne, a Renaissance-style apartment building designed by architect James Edward Ware and constructed between 1883 and 1885.

    Today, the space has an opulent entryway with marble floors and seating, hand-tiled walls, and extravagantly engraved ceilings that transport you to another era of the city.

    Chastain's specific apartment measures nearly 3,200 square feet.
    A hallway in the apartment.
    A hallway in the apartment.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    Sotheby's International Realty describes the space as the "meticulously renovated crown jewel" of the complex.

    Previous residents included composer Adam Guettel, musician Bobby Short, and conductor Leonard Bernstein, who wrote the music of "West Side Story" in the apartment.

    Chastain purchased the property in 2015 for $5.1 million, according to Architectural Digest.

    There are five wood-burning fireplaces inside, including one in the apartment's library.
    The library.
    The library.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    The property listed by Cathy Taub and Ellen Kapit of Sotheby's Downtown Manhattan brokerage is in a prime spot.

    Carnegie Hall is across the street, Central Park is one block away, and the shops of Columbus Circle are also within walking distance.

    The kitchen is especially impressive.
    The eat-in kitchen.
    The eat-in kitchen.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    With ceilings that reach nearly 14 feet and chic white cabinets, the space looks like it was made to be featured in a magazine.

    The cooking area also has a blue island with seating, a rolling ladder, and a grand chandelier.

    But if you want to eat in a more formal setting, the apartment features an impressive dining room.
    The dining room.
    The dining room.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    Like other rooms in the apartment, the dining area has a chandelier and opulent furniture.

    But its most unique features include yet another fireplace and cushy window seating across the room.

    You'd never run out of closet space in the apartment's main bedroom.
    The main bedroom.
    The main bedroom.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    In addition to its massive bed, corner fireplace, and bright lighting, the bedroom also has multiple mirrored closets.

    It's the perfect space not only to store all of your clothes but also to try on outfits.

    The connected bathroom has a shower, two sinks, and a vanity.
    The primary bathroom.
    The primary bathroom.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    The all-white space also has tiled floors, a walk-in shower, and a private toilet.

    A major highlight of the apartment is the assortment of fun wallpapers.
    A bedroom in the apartment.
    A bedroom in the apartment.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    Many of the fabric wallpapers are the work of fashion and interior designer Ralph Lauren.

    One of the grandest spaces in the apartment is the living room.
    The living room.
    The living room.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    The area has massive windows lined with mahogany paneling that provide natural lighting, a carved doorway, and oak parquet floors.

    The stained-glass windows are the work of designer Louis Comfort Tiffany.
    Tiffany windows inside the apartment.
    Tiffany windows inside the apartment.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    Sotheby's International Realty says the windows featured in Chastain's apartment were the artist's first decorating job.

    Of course, he later became the lead designer of his family's business, Tiffany & Co.

    So, who will be the next owner of the luxurious apartment?
    The parlor room.
    The parlor room.

    Kenneth Chen/Evan Joseph Studios for Sotheby's International Realty

    If the apartment's history continues, maybe another wealthy member of the arts industry will purchase the space. Chastain's friend Taylor Swift, perhaps?

    However, according to AD, Chastain is leaving the property in favor of one with more space for her family.

    Read the original article on Business Insider

  • Ex-OpenAI employee speaks out about why he was fired

    OpenAI logo dark background
    Former OpenAI former employee Leopold Aschenbrenner spoke out about his firing.

    Jaap Arriens/Getty

    • Leopold Aschenbrenner spoke about his firing from OpenAI's superalignment team in a podcast. 
    • He said HR warned him after he shared a memo about OpenAI's security with two board members.
    • He said his firing was related to sharing a brainstorming doc with outside researchers. 

    A former OpenAI researcher opened up about how he "ruffled some feathers" by writing and sharing some documents related to safety at the company, and was eventually fired.

    Leopold Aschenbrenner, who graduated from Columbia University at 19, according to his LinkedIn, worked on OpenAI's superalignment team before he was reportedly "fired for leaking" in April. He spoke out about the experience in a recent interview with podcaster Dwarkesh Patel released Tuesday.

    Aschenbrenner said he wrote and shared a memo after a "major security incident" that he didn't specify in the interview, and shared it with a couple of OpenAI board members. In the memo, he wrote that the company's security was "egregiously insufficient" in protecting against the theft of "key algorithmic secrets from foreign actors," Aschenbrenner said. The AI researcher previously shared the memo with others at OpenAI, "who mostly said it was helpful," he added.

    HR later gave him a warning about the memo, Aschenbrenner said, telling him that it was "racist" and "unconstructive" to worry about China Communist Party espionage. An OpenAI lawyer later asked him about his views on AI and AGI and whether Aschenbrenner and the superalignment team were "loyal to the company," as the AI researcher put it.

    [youtube https://www.youtube.com/watch?v=zdbVtZIn9IM?si=KEHNq628i3Z0mjN6&start=9135&w=560&h=315]

    Aschenbrenner claimed the company then went through his OpenAI digital artifacts.

    He was fired shortly after, he said, with the company alleging he had leaked confidential information, wasn't forthcoming in its investigation, and referenced his prior warning from HR after sharing the memo with the board members.

    Aschenbrenner said the leak in question referred to a "brainstorming document on preparedness, on safety, and security measures" needed for artificial general intelligence, or AGI, that he shared with three external researchers for feedback. He said he had reviewed the document before sharing it for any sensitive information and that it was "totally normal" at the company to share this kind of information for feedback.

    Aschenbrenner said OpenAI deemed a line about "planning for AGI by 2027-2028 and not setting timelines for preparedness" as confidential. He said he wrote the document a couple of months after the superalignment team was announced, which referenced a four-year planning horizon.

    In its announcement of the superalignment team posted in July 2023, OpenAI said its goal was to "solve the core technical challenges of superintelligence alignment in four years."

    "I didn't think that planning horizon was sensitive," Aschenbrenner said in the interview. "You know it's the sort of thing Sam says publicly all the time," he said, referring to CEO Sam Altman.

    An OpenAI spokesperson told Business Insider that the concerns Aschenbrenner raised internally and to its Board of Directors "did not lead to his separation."

    "While we share his commitment to building safe AGI, we disagree with many of the claims he has since made about our work," the OpenAI spokesperson said.

    Aschenbrenner is one of several former employees who have recently spoken out about safety concerns at OpenAI. Most recently, a group of nine current and former OpenAI employees signed a letter calling for more transparency in AI companies and protection for those who express concern about the technology.

    Read the original article on Business Insider

  • Elon Musk may build a multibillion-dollar supercomputer in Memphis, Tennessee

    Elon Musk on red carpet
    Elon Musk may build the Gigafactory of Compute in Memphis.

    Jon Kopaloff/Getty

    • Elon Musk's xAI may build the world's largest supercomputer in Memphis, pending approval.
    • The multi-billion dollar project, called Gigafactory of Compute, could create hundreds of jobs.
    • Musk previously said the supercomputer will be online by fall 2025.

    Elon Musk may have found a home for xAI's supercomputer.

    The Musk-founded AI business is working with Memphis to make the Tennessee city the lead location of the world's largest supercomputer, referred to as the Gigafactory of Compute, according to a statement from the Greater Memphis Chamber on Wednesday.

    The multibillion-dollar supercomputer would reportedly be powered by Nvidia's H100 GPUs, some of the most sought-after chips that power AI. The project could create hundreds of jobs, according to a report from the Memphis Business Journal.

    "We had an ideal site, ripe for investment," Memphis Mayor Paul Young said in the statement. "And we had the power of our people who created new and innovative processes to keep up with the pace required to land this transformational project."

    However, the partnership isn't fully official yet, with the project pending approval by the Memphis Shelby County Economic Development Growth Engine, Tennessee Valley Authority, and governing authorities.

    Still, if approved, the project will represent the largest investment in the city's history.

    Ted Townsend, President & CEO of the Greater Memphis Chamber, told Business Insider there isn't a specific timeline yet, but xAI is moving at a "very aggressive" pace to reach their deadlines. Musk previously told xAI investors that he wants the supercomputer online by fall 2025.

    "The focus is, and it will remain, to get this thing operating," Townsend said to BI.

    Greater Memphis Chamber became involved with the process about 90 days ago, which Townsend said was recent, considering when xAI started looking.

    The plan is for the company to occupy a former manufacturing facility, which may be the Electrolux Memphis facility, according to a report from the Memphis Business Journal. Townsend said he could not confirm the location for security reasons.

    Details emerged just after news broke about Musk sending Nvidia chips meant for Tesla to X instead. The billionaire — who owns X and founded and runs Tesla — responded by saying Tesla had no place to send the pricey semiconductors, so they would have sat unused in a warehouse. Delaying the GPUs could set back Tesla's own supercomputer development.

    Meanwhile, xAI announced just over a week ago that it raised $6 billion in its Series B funding round. The funding included $750 million which Musk personally invested and $250 million worth of computing power from X, according to The Wall Street Journal.

    xAI did not respond to a request for comment from BI.

    Read the original article on Business Insider

  • 3 ASX shares set for dividend increases this year

    Man holding out Australian dollar notes, symbolising dividends.

    The Australian share market is filled to the brim with dividend-paying shares.

    However, not all of these ASX shares will be paying dividends that are larger than what they paid last year.

    But three shares that analysts believe are destined to increase their dividends this year (and next) are listed below.

    Here’s what they are forecasting for these ASX shares:

    Deterra Royalties Ltd (ASX: DRR)

    Deterra Royalties has been tipped to pay some big (and growing) dividends to investors. It is a mining royalties company, pocketing money from mining operations such as Mining Area C, operated by BHP Group Ltd (ASX: BHP), without lifting a shovel.

    In FY 2023, the company rewarded its shareholders with a fully franked 28.9 cents per share dividend.

    According to a recent note out of Morgan Stanley, its analysts are forecasting Deterra Royalties to increase its dividend to 32.7 cents in FY 2024 and then 39 cents in FY 2025. Based on the current Deterra Royalties share price of $4.58, this will mean dividend yields of 7.1% and 8.5%, respectively.

    Morgan Stanley also sees plenty of upside for this ASX share. It currently has an overweight rating and $5.60 price target.

    Suncorp Group Ltd (ASX: SUN)

    Another ASX share that could be destined to grow its dividends is Suncorp. It is one of Australia’s largest insurance companies, operating brands including AAMI, Apia, Bingle, GIO, Shannons, and Vero.

    In FY 2023, the insurance giant paid shareholders a fully franked 60 cents per share dividend.

    Analysts at Goldman Sachs believe that a big increase is coming in FY 2024, with another more modest increase the year after. It is forecasting fully franked dividends per share of 78 cents in FY 2024 and then 83 cents in FY 2025. Based on the current Suncorp share price of $16.19, this will mean dividend yields of 4.8% and 5.1%, respectively.

    Goldman has a buy rating and $17.54 price target on its shares.

    Telstra Corporation Ltd (ASX: TLS)

    Finally, a third ASX share that looks set to increase its dividend this year and next is telco giant Telstra.

    In FY 2023, the company’s return to growth allowed the Telstra board to increase its dividend to a fully franked 17.5 cents per share.

    Goldman Sachs believes this trend can continue thanks to the strength of its mobile business. As a result, it is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.53, this equates to yields of 5.1% and 5.25%, respectively.

    The broker has a buy rating and $4.25 price target on its shares.

    The post 3 ASX shares set for dividend increases this year appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.