Factory activity beat expectations, but consumers are holding back, impacting retail sales growth.
The property crisis is worsening, with new home prices falling at the fastest pace in over nine years.
On Friday, China released data showing an uneven economic recovery that's keeping consumers from spending.
Factory activity cracked up, with industrial output rising 6.7% in April from a year ago, beating the 5.5% growth that analysts polled by Reuters had expected.
The employment landscape improved. The jobless rate fell from 5.2% in March to 5% in April.
However, retail sales rose 2.3% from a year ago, slowing from a 3.1% increase in March and below the 3.8% forecast economists polled by Reuters had expended — an indication that consumers are holding back.
Growth in fixed-asset investment from January to April also came in below expectations, rising 4.2% instead of the 4.6% analysts expected.
China's epic property crisis got worse
Even though there are some green shoots in China's economy, the country's property market is still struggling.
Property investment fell 9.8% over the first four months of the year from a year ago. That's worse than the 9.5% decline recorded in the first three months of the year.
New home prices in April also fell at their fastest pace in over nine years, according to Reuters calculations based on the official data.
Prices were down 0.6% month-on-month in April, deeper than a 0.3% fall in March, the fastest pace since November 2014, according to Reuters calculations based on National Bureau of Statistics, or NBS, data released on Thursday.
The decline is despite Beijing's efforts to support the property sector, which accounted for about one-quarter of China's GDP.
China's economy is now in a painful transition from its reliance on lower-cost manufacturing and property to the "new three" industries of electric vehicles, solar cells, and lithium batteries.
Beijing is also stepping up on support measures including the sale of 1 trillion Chinese yuan, or $138 billion, ultra-long special sovereign bonds to fund infrastructure spending.
It's also considering a plan for local governments to buy up millions of unsold homes, Bloomberg reported on Wednesday, citing people familiar with the matter.
This is a developing story. Please check back for updates.
ASX 200 healthcare shares are in the red with the rest of the market on Friday.
The S&P/ASX 200 Health Care Index (ASX: XHJ) is down 1.53% while the S&P/ASX 200 Index (ASX: XJO) is down 0.53%. This follows a subdued session on Wall Street overnight after yesterday’s exuberance.
Here, we canvas expert opinions on three of the largest and most popular ASX 200 healthcare stocks on the market today.
Expert verdicts on 3 top ASX 200 healthcare shares
This well managed blood products company offers compelling long-term tailwinds.
CSL is steadily growing its dividend stream. The company usually under-promises and over-delivers when it comes to profit. The stock has underperformed on the back of a slower recovery in margins.
Also behind a weaker share price was a phase 3 study which found its CSL112 drug was unable meet its primary efficacy endpoint of reducing the risk of major adverse cardiovascular events in patients at 90 days following a first heart attack.
The recent share price presents an attractive entry level for investors.
Sonic Healthcare is the fifth largest ASX 200 healthcare stock with a market cap of $12.99 billion.
The Sonic Healthcare share price is $26.99, down 0.19% now and down 24.4% over the past 12 months.
Toby Grimm of Baker Young has a hold rating on Sonic Healthcare shares.
Grimm says:
Australia’s largest pathology testing firm remains out of favour as it loses prior windfall COVID-19 revenues amid an elevated operating cost environment.
However, we see fiscal year 2024 as the low point for earnings. Moving forward, we expect growth across its global core business as a prime reason to consider holding the stock.
Resmed is the third biggest ASX 200 healthcare share with a market cap of $21.12 billion.
The Resmed share price is $32.99, down 0.33% now and down 3.74% over the past 12 months.
Grimm has a sell rating on Resmed shares.
He explains:
The sleep apnoea device maker delivered impressive third quarter results in fiscal year 2024. RMD’s share price has surged relative to the market and its peers.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CSL wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bronwyn Allen has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The All Ordinaries Index (ASX: XAO) is down 0.34% in Friday morning trade, but that’s not holding back this surging ASX lithium share.
Shares in the company â which is focused on delivering the world’s first integrated renewable energy and zero carbon lithium project â closed yesterday trading for $4.76. In earlier trade, shares were changing hands for $5.38 apiece, up 13.0%.
At the time of writing, shares have retraced a touch, trading for $5.28, putting the ASX lithium share up 10.9% for the day.
Any guesses?
If you said Vulcan Energy Resources Ltd (ASX: VUL), give yourself a virtual gold star.
Here’s what’s got investors excited today.
ASX lithium share lifts on financing progress
The Vulcan Energy share price is surging today following an update on the company’s financing process.
Phase one of the two-phase financing process is now complete. Vulcan said it had received significant interest from strategic and financial investors, commercial banks, the European Investment Bank (EIB) and “major government-backed export credit agencies”.
The ASX lithium share said it had formally launched the second and final phase of its project-level debt and equity funding package for its integrated renewable energy and Zero Carbon Lithium Project, located in Germany.
With the support of global bank BNP Paribas, Vulcan has been running a two-phase debt and equity financing process to secure a 65% to 35% mix of debt and equity.
The formal debt launch package was issued today. Vulcan said it was entering formal discussions with four international banks â ABN-AMRO, ING, NATIXIS and UNICREDIT â and four export credit agencies that had expressed in-principle and non-binding interest.
The ASX lithium share said it was receiving continued support from the EIB. And it’s applied for additional public funding through several grant schemes.
The project-level financing program remained on schedule for completion by the end of 2024.
Vulcan reported that it is also launching the second phase of its project-level equity financing process.
What did management say?
Commenting on the financing progress that’s sending the ASX lithium share soaring today, Vulcan CEO Cris Moreno said this marked “a key milestone on our path to becoming Europe’s first fully integrated carbon-neutral lithium producer”.
Moreno added:
The high-quality nature of respondents in the first phase of our finance process is a strong signal of confidence in both our team’s ability to deliver a world class project, and the credentials of Vulcan’s integrated renewable energy and Zero Carbon Lithium Project, to enable a green energy and mobility transition for Europe.
This is an exciting period for the company, and we look forward to entering the formal discussion stage of our finance process with such exceptional and well aligned financing partners.
Vulcan Energy share price snapshot
While most ASX lithium shares have struggled this year, Vulcan Energy’s share price has now soared a whopping 88% in 2024.
Should you invest $1,000 in Vulcan Energy Resources Limited right now?
Before you buy Vulcan Energy Resources 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 Vulcan Energy Resources Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bernd Struben 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.
Recent layoffs at Google have prompted criticism of company leadership, including CEO Sundar Pichai.
Justin Sullivan/Getty Images
Google has recently undergone its largest-ever spree of layoffs, and has warned of more to come.
Google's layoffs came from over-hiring during the pandemic and broadly restructuring toward AI.
The job cuts have led to criticism of Google's leadership and a shift in the company culture.
Getting a job at Google has long been synonymous with a stable career and luxurious perks. The tech giant is known for providing its employees with generous salaries and lavish amenities like on-site laundry rooms, massages, and gyms at the Googleplex headquarters and other office sites.
Over the last 25 years, the company has built a culture of pride among its employees and has undergone few rounds of layoffs. But recent years show that Google is far from immune to the economic pressures and workforce adjustments in the tech industry.
Google is one of many tech companies to implement layoffs in 2023 and 2024. Here is a timeline of Google's job cuts and where the company is headed with layoffs and hiring.
Google laid off over 12,000 employees in 2023
Google layoffs in 2023 affected about 6% of the company's global workforce, or about 12,000 people, starting in January.
Google also conducted several smaller rounds of layoffs in divisions related to recruiting, Google News, and Google Assistant later in the year.
The tech giant paid staff during the 60-day minimum federal notification period, severance of at least 16 weeks salary, and two weeks for each additional year at the company.
Laid-off employees were also offered accelerated restricted stock units vesting, 2022 bonuses, and remaining vacation days. Google also offered six months of healthcare, job replacement services, and immigration support if needed.
The layoffs affected Google's earnings, costing the company $2.1 billion, according to the fourth-quarter report from parent company Alphabet.
Hundreds more were laid off in January 2024
Google began the new year by laying off thousands of employees.
Anadolu/Getty Images
Google layoffs kicked off 2024 also, beginning January 10. The company cut thousands of jobs across core engineering and hardware teams.
The company encouraged some impacted employees to apply for open positions at Google. According to the email, April 9 was the last day for those unable to secure a new position.
Google did not respond to Business Insider's inquiries about how many of those employees have found new positions at the company.
More layoffs are coming in 2024
In January, CEO Sundar Pichai warned of more Google layoffs in 2024.
The upcoming cuts, he said in an internal memo to employees, are about "removing layers to simplify execution and drive velocity in some areas."
The "role eliminations" would not reach the same scale as 2023. Teams in sales, advertising, product, and in the YouTube division are set to be impacted by the cuts.
Future changes can be expected as teams take steps to focus on the company's priorities. These decisions will be made at the team level.
Google did not specify the number of jobs that would be affected.
Why so many job cuts in 2023 and 2024?
Google CEO Sundar Pichai has made it clear that advancing AI is a top priority for the company.
JOSH EDELSON/GETTY
Google's layoffs aren't necessarily a signal that the company isn't doing well. The company's market cap has nearly quadrupled since 2015, reaching $1.7 trillion.
Like many other tech companies, the layoffs are rooted in two main areas: over-hiring during the pandemic and restructuring for the AI boom.
In his 2023 layoff announcement, Pichai said the company experienced "dramatic growth" over the last two years. To match that growth, Google hired "for a different economic reality than the one we face today," he said.
"A number of our teams made changes to become more efficient and work better, remove layers, and align their resources to their biggest product priorities," a Google spokesperson told BI.
The spokesperson said the changes give employees a chance to work on Google's most innovative advances while reducing bureaucracy, which 45% of employees said was slowing down their work in a 2023 companywide survey reviewed by BI.
Google continues to hire talent, even amid the layoffs, and currently has a number of open listings on its site, most of which are in engineering and technology.
But it's clear Google is shifting priorities — the main one is advancing AI.
With 80% of Google's parent company Alphabet's revenue still coming from advertising, the company is at a critical inflection point of solidifying other revenue sources.
Google has been developing AI for over a decade, slowly incorporating it into its search engine, ad products, and YouTube recommendations.
But Google has still trailed behind competitors like Microsoft and Amazon, particularly when it comes to Google's chatbot Gemini and AI voice assistant Google Mic.
Now, Google is ramping up its AI efforts with a series of cloud advancements, like an Arm-based CPU, the general availability of TPU v5p, the new release of Gemini 1.5, and a swath of AI changes to Google Workspace.
Pichai admits Google could have handled its layoffs better
Leaked audio from a Google's all-hands meeting in December 2023 revealed Pichai saying it was not the best idea to inform all employees impacted by the layoffs simultaneously.
"I think it's something we could have done differently for sure," he said.
He also said the decision to cut off access to work accounts immediately after announcing the cuts was very difficult.
Google continues to support impacted employees in line with local requirements outplacement services, and severance offerings in its most recent round of layoffs. Specific details like severance vary by role and location.
A shift in company culture
Google's layoffs have impacted staff morale, according to the "Googlegeist" internal employee survey.
Brooks Kraft LLC/Corbis via Getty Images
As of its last earnings call, Alphabet has over 182,000 employees globally. And some of those employees say Google's year of efficiency has shifted the company culture at Google.
After thousands have been laid off in the last two years, some employees are questioning the family-like culture the company preached.
Pichai has acknowledged that the layoffs had a "clear big impact on morale," which was reflected in feedback and comments on the "Googlegeist," the company's internal survey that measures employee satisfaction.
Most Google employees are still proud to work at the tech giant, according to over three-quarters of respondents from a 2023 companywide survey obtained by Business Insider.
But some are pushing back.
One Google software engineer, Diane Hirsh Theriault, even took to LinkedIn in January to complain about the company's leadership, referring to its management as "profoundly boring and glassy-eyed."
Another ex-Googler wrote a letter on his blog in 2023 slamming the company. The former employee said Google lacked visionary leadership and was destroying transparency between staff and executives.
The Alphabet Workers Union also planned protests in January at five Google campuses across the US to challenge Google's rationale in decision-making.
Pichai has also received criticism for his leadership.
After Gemini's image generator released inaccurate racial depictions of historical figures in 2024, industry leaders called for Pichai's removal as Google's CEO.
Many critics, including industry experts, laid-off Googlers, and even some of Google's very first employees, have assailed Pichai's pace in the AI race and called for him to step down because he hasn't acted quickly enough.
Shares in S&P/ASX 200 Index (ASX: XJO) bank stockBendigo and Adelaide Bank Ltd (ASX: BEN) are leaping higher today.
Bendigo Bank shares closed yesterday trading for $9.92. In morning trade on Friday, shares are swapping hands for $10.38 apiece, up 4.6%.
For some context, the ASX 200 is down 0.2% at this same time.
Here’s why Bendigo Bank stock is smashing the benchmark today.
ASX 200 bank stock lifts off on increased margins
The Bendigo Bank share price is soaring after the company released a trading update for the 10 months through 30 April.
The ASX 200 bank stock reported unaudited cash earnings of roughly $464 million for the 10 months. That’s down 2.3% on the prior corresponding period.
Likely spurring investor interest, the bank’s net interest margin (NIM) â which measures the difference between its lending rates and borrowing rates â increased since it reported its half year results.
NIM post revenue share arrangements came in at 1.87%, up from 1.83% reported in 1H FY 2024. The bank added that its April exit NIM was higher than the year to date average.
Also likely spurring investor interest is the low credit expense levels Bendigo Bank reported across all of its portfolios.
What did management say?
Commenting on the 10-month results sending the ASX 200 stock surging today, CEO Marnie Baker said:
At our half year results in February we reiterated our commitment to managing the business for long term value. We have continued our focus on disciplined growth and prudent management of our costs.
The margin considerations we outlined in February have helped support a year-to-date margin of 1.87% post revenue share. We look forward to showcasing our growth engines at our Investor Day on 23 May 2024.
How has the ASX 200 bank stock been tracking?
With this morning’s intraday gains factored in, the Bendigo Bank share price is up an impressive 21% since this time last year. Most of those gains have been delivered over the past six months.
Atop the strong share price gains, the ASX 200 bank stock also pays some juicy dividends.
Over the past year, Bendigo Bank paid a final dividend of 32 cents per share on 29 September and an interim dividend of 30 cents per share on 26 March. At the current share price that equates to a fully franked trailing yield of 6.0%.
And if we add those dividends back into the share price, the accumulated value of the ASX 200 bank stock is up more than 28% in 12 months.
Should you invest $1,000 in Bendigo And Adelaide Bank Limited right now?
Before you buy Bendigo And Adelaide Bank 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 Bendigo And Adelaide Bank Limited wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Bernd Struben 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 positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
On Thursday afternoon, the tech giant posted on its System Status dashboard that "Users were unable to use" iMessage, along with FaceTime and HomeKit.
The outages lasted from 2:49 p.m. to 3:35 p.m. Pacific Time, according to the update from Apple.
"apple ruining relationships by turning off iMessage," @onlydioria posted on X during the technical trouble.
It's extremely unusual for iMessage to go down like this. The service has become an integral part of the social fabric of the US, with teens who don't have iPhones agonizing over their green text bubbles not showing up properly in group messages.
Google, the company behind the Android smartphone platform, has been trying to coax Apple into scrapping this stressful form of social stigma. But, you know, blue bubbles sell iPhones, so no dice. Even the DOJ in it's antitrust lawsuit against Apple, zeroed in on the green vs. blue bubble stigma.
This didn't stop some Android phone users from mocking the iMessage outage on Thursday.
"imessage is down. embrace the green bubble," Phillip Lewis wrote on X.
Or, you could just try WhatsApp, which the rest of the world uses easily. That works on both iOS and Android. Incredible. It's like living in the future.
The ASX dividend stock Step One Clothing Ltd (ASX: STP) has drifted lower over the last several weeks, as the chart below shows. I’m going to examine whether it’s the right time to invest in this business.
Step One describes itself as a leading direct-to-consumer online retailer of innerwear. It says its underwear is “high quality, organically grown and certified, sustainable, and ethically manufactured”.
The Step One share price’s decline of more than 20% started around the time that Step One founder and CEO Greg Taylor sold 313,500 shares to bring James Spithill (a winner of two Americas Cups) onto the share register.
Is this a good time to invest in the ASX dividend stock?
I love investing in growing ASX dividend shares that are priced cheaper, just like we’re seeing with Step One.
The gross profit margin grew from 80.7% to 81.2%, and the average order value (AOV) increased by 4.7% to $94.47.
Step One’s balance sheet is in a good state, with a closing cash balance of $43.9 million and no debt.
One of the most compelling things about the business’s future is that it’s growing rapidly in the UK and the US, which have much bigger populations than Australia (where it generates most of its revenue). HY24 UK revenue increased 38% to $14.6 million, and US revenue jumped 256% to $4.1 million.
If Step One can keep growing in the UK and US, then the business looks like it has a very exciting future.
The company is working on a number of things in FY24, including growing the women’s line, expanding its partnerships with retailers and other organisations, taking the women’s lines to the US, investing in its capabilities and products, and continuing to improve the customer experience.
ASX dividend stock valuation and yield
The Step One share price is still up more than 300% over the past year, so it’s not exactly trading at a 52-week low.
However, the company is at a reasonable valuation in my opinion, considering how much global potential it has. It’s valued at 21x FY25’s estimated earnings with a forecast FY25 grossed-up dividend yield of 6.7%.
This seems like the type of business that can deliver significant economies of scale benefits. I’m expecting profit margins to grow over the longer term. I also think Step One can easily expand to other countries, such as Canada, giving it a longer growth runway.
I think the ASX dividend stock is a good long-term buy at this level.
Should you invest $1,000 in Step One Clothing right now?
Before you buy Step One Clothing 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 Step One Clothing wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor Tristan Harrison 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.
When looking for ASX passive income options, it’s always good to find stable businesses with the ability to grow their earnings and dividends.
Well, energy infrastructure company certainly ticks these boxes. Its strong business model has allowed the company to increase its dividend each year for almost 20 years.
The good news is that Macquarie feels confident this trend will continue. It is forecasting dividend increases to 56 cents per share in FY 2024 and 57.5 cents per share in FY 2025. Based on the current APA Group share price of $8.82, this equates to 6.3% and 6.5% dividend yields, respectively.
Macquarie has an outperform rating and $9.40 price target on its shares.
Another ASX passive income stock for investors to consider buying is Aurizon.
It plays a key role in Australia’s supply chain. It transports more than 250 million tonnes of Australian commodities, connecting miners, primary producers and industry with international and domestic markets.
Ord Minnett thinks it would be a great option for income investors. Particularly given that a sizeable dividend increase could be on the cards next year.
It is forecasting partially franked dividends of 17.8 cents per share in FY 2024 and then 24.3 cents per share in FY 2025. Based on the latest Aurizon share price of $3.74, this will mean yields of 4.75% and 6.5%, respectively.
Ord Minnett currently has an accumulate rating and $4.70 price target on the company’s shares.
As the leading company in alcohol retail, Dan Murphy’s owner Endeavour Group could be a great option for passive income from the ASX.
Goldman Sachs certainly believes this is the case. It likes its market leadership position and the defensive nature of the alcohol retail market.
As for income, it is forecasting fully franked dividends of approximately 22 cents per share in both FY 2024 and FY 2025. Based on the current Endeavour share price of $5.21, this will mean dividend yields of 4.2% for both years.
The broker also sees plenty of room for its shares to charge higher from where they trade today, It currently has a buy rating and $6.20 price target on them.
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Apa Group wasn’t one of them.
The online investing service heâs 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…
Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group and Macquarie Group. The Motley Fool Australia has recommended Aurizon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
OpenAI announced its new flagship AI model, GPT-4o, which "can reason across audio, vision, and text in real time." A day later, Google announced various updates to its AI models — including a new AI agent called "Project Astra," and the future of Google Search.
But instead of coming after Google's AI offerings, Altman threw some shade at Google's aesthetic. The CEO posted a side-by-side image on X, formerly Twitter, of OpenAI's event with Google I/O next to it.
"I try not to think about competitors too much, but I cannot stop thinking about the aesthetic difference between OpenAI and Google," he wrote.
i try not to think about competitors too much, but i cannot stop thinking about the aesthetic difference between openai and google pic.twitter.com/hRFYhzm5K8
On the left, OpenAI researchers are sitting on a couch in dim lighting trying out the new GPT-4o in a vaguely midcentury modern office space. On the right, Google's vast outdoor stage almost resembles a movie set. The image shows a small crowd in front of a brightly lit stage with fake windows and clouds, and Google's famous rainbow colors on the wall behind it.
Altman's point is clear: OpenAI's event looks sleeker and more intimate, while Google looks like a large-scale production.
The general structure and style of both events also differed. Google's event was nearly two hours long and featured music looper Marc Rebillet of TikTok and YouTube fame warming up the crowd with the help of AI. OpenAI's was under 30 minutes and held in its offices.
Musician Marc Rebillet of TikTok and YouTube fame onstage at Google I/O 2024.
Google
Google I/O featured over half a dozen speakers, including CEO Sundar Pichai, who opened the event and spoke again at its closing. Meanwhile, OpenAI only had a few speakers and Sam Altman never made an appearance in the livestream.
At least one Google employee was quick to clap back at the OpenAI CEO.
Less than two hours after Altman's post on X, Zachary Nado, whose profile lists him as a research engineer at Google Brain, posted a response. The Googler wrote that, for a CEO who claims he doesn't think about competitors much, it's "interesting how all your launches are timed with ours then."
Of course, it's also worth noting that Google tried to have the last laugh 30 minutes before OpenAI kicked off its event, posting a demo video of Google's own AI agent and its impressive image recognition.
While the Google engineer said that he was just "bantering" and has a lot of respect for OpenAI researchers, the back-and-forth highlights the rivalry between the two companies as they race to create the top AI products.
OpenAI may not have announced a search engine at its event on Monday, but it's reportedly in the works of creating its own web search product. Meanwhile, Google is in the process of improving its Gemini AI suite, which has trailed behind OpenAI's ChatGPT — but has quickly gained market share.
Madison Marsh, wearing her uniform as an Air Force second lieutenant, poses with her Miss America crown.
US Air Force photo by Miriam Thurber
Second Lt. Madison Marsh juggles duties as an active-duty US Air Force officer and Miss America.
In January, the 22-year-old became the first active-duty service member to be crowned Miss America.
She is now pursuing her master's degree at Harvard and assisting in pancreatic cancer research.
Madison Marsh has had a whirlwind few months balancing her duties as a US Air Force officer and Miss America.
In January, the 22-year-old Arkansas native became the first active-duty US Air Force officer to compete in — and win — the national pageant competition.
Fort Smith homecoming
US Air Force 2nd Lieutenant Madison Marsh wears her military uniform while holding her Miss America sash.
US Air Force photo by Miriam Thurber
Marsh returned to her hometown of Fort Smith, Arkansas, over the weekend, welcomed with a homecoming parade. She also visited local schools — including her old middle and high school — to talk about her journey to the Miss America stage from those very halls.
"I mean, I've been saying all day that winning Miss America has never been about me," Marsh said, according to local news station KHBS. "It's been about the people that are in my community, who have backed me and the people that we can impact."
"And so, if I can hopefully open up the mind of another young woman or another young man to chase their dreams, to do something different, then it's a job well [done]," she continued. "And I'm so extremely lucky to have the position that I have."
Air Force officer, pageant winner, and now Harvard student
Madison Marsh sets off the wall of fire during the airshow at the SUN 'n FUN Aerospace Expo in Lakeland, Florida.
US Air Force photo by Miriam Thurber
Over the span of a year, Marsh graduated from the US Air Force Academy with a degree in physics, was crowned Miss Colorado and later Miss America, and earned a full-ride scholarship to Harvard University.
Marsh earned her civilian pilot's license at 16, which inspired her to apply to USAFA. After she received her commission as a second lieutenant, she was selected for the flight school pipeline to become a military pilot.
However, Marsh decided to defer flight school last September to pursue a master's degree in public policy at Harvard Kennedy School.
Advocate for pancreatic cancer research
Madison Marsh chats with students at the FIRST Robotics Championship in Houston, Texas.
US Air Force photo by Miriam Thurber
She also works as a graduate intern at Harvard Medical School, working with researchers at the Dana-Farber Cancer Institute on the early detection of pancreatic cancer using artificial intelligence.
Her mother died from pancreatic cancer in 2018, just nine months after her diagnosis, which led Marsh to become an advocate for patient care and research through the Whitney Marsh Foundation, the nonprofit her family founded after her mom's death.
"We are leaps and bounds ahead of where we were when my mom was diagnosed five years ago, and I think that speaks volumes to the type of strides we're making across the entire pancreatic cancer community," Marsh told Healthline in an interview.
A future in public policy
Second Lt. Madison Marsh participates in a wreath-laying Ceremony at the Tomb of the Unknown Soldier.
US Army photo by Elizabeth Fraser/Arlington National Cemetery/Released
Marsh said she hopes to apply insights gained from her Harvard research toward shaping public policy at Capitol Hill that will better support patients.
"Now I understand the science side and [how to ask] medical professionals, 'What do you think needs to be done for patients, and how can we get that done through legislation?'" Marsh said at a United Service Organizations event on Capitol Hill in February. "Because through Harvard, even though I only got to do one semester there, I have learned that it is really easy to make bad policy."
"I think the best way to making good policy is by intimately understanding from the source — with patients — and intimately understanding that scientifically so we're enacting it properly," she added. "Now that I have all of those communities able to give me that knowledge, I'm really excited to get to use that piece to come forward here on the Hill and maybe get some things done."
Balancing active duty with pageant duty
Second Lt. Madison Marsh, crowned Miss America 2024, shares her crown with students at the NASCAR Fun Day Festival in Daytona Beach, Florida.
US Air Force photo by Miriam Thurber
Marsh is taking the rest of the year off from her degree and research to focus on her commitments with the Air Force and Miss America. To coincide with her pageant duties, the Air Force kept Marsh on active duty by assigning her to a public affairs and recruiting position.
"The Air Force has been really, really wonderful with me," Marsh said. "Basically, anytime I go and do Miss America events, I'm also giving back to the Air Force to ensure people know about the message of what it means to serve as 2nd Lt. Marsh — the different ways that they can get involved in the military, whether it be in the Air Force or other branches or different jobs."
Never the same day at work
US Air Force 2nd Lt. Madison Marsh poses with airmen at the National Museum of the US Air Force in Dayton, Ohio.
US Air Force photo by Miriam Thurber
The 22-year-old certainly has her hands full as she travels to a new city every few days to make a public appearance or attend events for both the Air Force and Miss America, some of which may vary greatly from each other.
"One event may include putting on my [Air Force] uniform to speak to classrooms of students about what it means to serve our country," she said, according to Dayton Daily News, "and 10 minutes later, I could be changing into something like this," referring her black jumper, high heels, tiara, and Miss America sash, "to attend a speaking event or the Super Bowl."
'Put me in coach!'
Miss America Madison Marsh, wearing her Air Force uniform, throws the first pitch during the Mets baseball game at Citi Field in New York.
US Air Force photo by Miriam Thurber
But Marsh's professional sports cameos aren't just limited to the NFL. Earlier this week, Marsh threw the first pitch at the Mets baseball game at Citi Field in New York.
"Put me in coach!" Marsh wrote in an Instagram post after the game. "Grateful for the military community and the team at the Mets that made this happen!"
A day in the life of an Air Force cadet
Second Lieutenant Madison Marsh, wearing her Miss America sash and crown, poses in front of an aircraft at the National Museum of the US Air Force.
US Air Force photo by Miriam Thurber
In February, Marsh and 27 fellow state delegates visited her alma mater, the US Air Force Academy, to tour the facilities. Delegates experienced a day in the life of an Air Force cadet, flying flight simulators, packing parachutes, and sitting in a TG-16A glider.
"My Miss America class was floored by the entire experience," Marsh said in an article published by USAFA's Strategic Communication office. "They truly got the whole cadet experience — dorm tours, flight simulators, hopping in planes, eating with cadets, and more. I really couldn't have thought of a better day to show them my home."
Mike Peterson, outreach division director for USAFA's Strategic Communications office, said he hopes the visit will inspire the Miss America delegates to promote the academy in their home states.
"We're hoping that one of the things that the delegates will talk about is how they participated in Miss America's homecoming at her college, the US Air Force Academy," Peterson said. "They are going to represent their states for the rest of their lives. We hope they will continue to spread the word about the Academy and their positive experience here."
'I serve as 2nd Lt. Marsh, and I serve as Miss America simultaneously'
Second Lieutenant Madison Marsh poses for a photo through the open hatch of a C-17 Globemaster.
US Air Force photo by Miriam Thurber
By serving in both crown and uniform, Marsh said she hopes to empower young women to lead in any space, regardless of any gendered misconceptions.
"I hope that women are able to see that they can define their own role in the military — whether they want to take it in the more feminine path or not — knowing that they are empowered to make that decision," Marsh told DOD News in February. "I hope young girls can see that you can lead in the military, or you can lead in a board room, in the courthouse, in medical boardrooms — whatever it might be — and you can be taken seriously.
"Whether I'm in a crown and sash or whether I'm in my uniform, I serve as 2nd Lt. Marsh, and I serve as Miss America simultaneously, and they do not take away from one another."
