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      Trump Names David Sacks to Oversee Crypto and A.I.

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      President-elect Donald J. Trump has named one of Silicon Valley’s most prominent conservative investors, donors and media personalities to help oversee American tech policy.David Sacks, a venture capitalist and an early executive at PayPal who launched a hit podcast, will be the “White House A.I. and Crypto Czar,” the president-elect announced in a social media post on Thursday. Mr. Sacks is a close friend of Elon Musk, and Mr. Sacks has been among the people over the last year or so encouraging Mr. Musk to delve deeper into Republican politics.The position will be new, and further cements the expectation that the Trump White House intends to take a lighter hand with the regulation of technology and in particular cryptocurrencies, which have surged in value since Mr. Trump won the election and in which Mr. Trump personally has a business interest. Mr. Sacks, who leads a venture capital firm called Craft Ventures, has in general called for a more permissive policy on both cryptocurrency and artificial intelligence.Mr. Sacks won a battle within the Trump transition effort. Some people were pitching Mr. Trump’s team on separate positions where different people would oversee artificial intelligence and crypto, according to a person close to the process. But Mr. Sacks was chosen to oversee them all together in a joint appointment.“David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” Mr. Trump said on Thursday evening. “David will focus on making America the clear global leader in both areas.”It is not clear if his role will be full time; Mr. Sacks has previously told friends that he did not want a formal role because it would require him to leave his position overseeing his venture capital fund, The New York Times has previously reported. Mr. Sacks announced a new start-up funding round led by his firm just this week.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Musk, Trump, A.I. and Other DealBook Summit Highlights

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      The economy, inflation, tariffs, the future of media, pardon politics and other big topics that made headlines this year.Jeff Bezos was cautiously optimistic that President-elect Donald Trump would be more measured in his second term.Michael M. Santiago/Getty ImagesFour takeaways from the DealBook Summit The U.S. election dominated the news agenda this year, and the two people at the center of Donald Trump’s win came up in nearly every conversation yesterday at the DealBook Summit. The president-elect and Elon Musk may not have been in the room, but questions about how they will shape business and politics were front and center.The general view of the day was cautious optimism, even among those who had publicly criticized Trump and Musk — or been targeted by them.But many questions remain. What will Trump and Musk mean for government, business and the economy? Will they succeed in cutting regulation and government spending? And will they go after their perceived enemies and rivals?Here are four big themes from this year’s event.What will happen with the economy?Most of the speakers were willing to give Trump the benefit of the doubt, or at least played down worries about his most disruptive policy ideas.Jay Powell, the Fed chair, addressed one of the biggest questions hanging over the next administration: Will the president-elect go after the central bank’s independence? No, Powell said emphatically. The Fed, he said, was created by Congress and its autonomy is “the law of the land.”“There is very, very broad support for that set of ideas in Congress in both political parties, on both sides of the Hill, and that’s what really matters,” he said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Biggest Takeaways From the DealBook Summit With Jeff Bezos, Sam Altman and More

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      Serena Williams, Jerome H. Powell, Jeff Bezos and other leaders across business and technology discussed artificial intelligence, inflation, the media and what the world would look like under a second Donald J. Trump presidency.Mr. Bezos, for one, thinks the president-elect has “a good chance of succeeding.”Elon Musk wasn’t in the room, but he was present throughout at the DealBook Summit. The speakers were largely optimistic about his efforts in the new administration.The event, hosted by Andrew Ross Sorkin, founder of DealBook, has taken place since 2011.Here are five main themes:Inflation is still an issue, but there’s a chance for growth.Jerome H. Powell, the chair of the Federal Reserve, said the economy was in a “very good place.” Inflation has come down, and the labor market has rebounded. The big takeaway for investors: The central bank can afford to be more cautious when it considers lowering interest rates, Mr. Powell said. (The next Fed meeting will be Dec. 17-18.)Ken Griffin, the billionaire founder of the hedge fund Citadel and a top donor to the Republican Party, placed the blame for inflation squarely on the Biden administration, which, he argued, “put this country on an inflationary path that was unprecedented in our lifetime.” Mr. Powell has “had to deal with cleaning up the mess,” he added.Former President Bill Clinton said inflation was the “fundamental problem” that helped Mr. Trump return to the White House.“The average person had not really lived through something like this for 40 years, since the ’70s,” Mr. Clinton said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      At the Serpentine, Holly Herndon Taught A.I. to Sing

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      Holly Herndon and Matt Dryhurst are presenting their first large-scale solo museum show. It sounds gorgeous, even if its visual elements are lacking.Although it’s easy to feel alienated by the opaque processes behind artificial intelligence and fearful that the technology isn’t regulated, the artists Holly Herndon and Matt Dryhurst want you to know that A.I. can be beautiful.Their exhibition “The Call,” at the Serpentine Galleries in London through Feb. 2, is the first large-scale solo museum show for the artist duo, who have long been at the forefront of A.I.’s creative possibilities.Herndon — who was born in Tennessee, grew up singing in church choirs and later received a Ph.D. in music composition from Stanford — has made cutting-edge, A.I.-inflected pop music for over a decade. With Dryhurst, a British artist who is also her husband, she has branched out to make tools that help creatives monitor the use of their data online, and recently, into the visual arts.The couple’s work “xhairymutantx,” commissioned for this year’s Whitney Biennial, uses A.I. text prompts to produce an infinite series of Herndon portraits that highlight the playful nature of digital identities.The Serpentine show combines musical and visual elements. With the varied a cappella choral traditions of Britain in mind, Herndon and Dryhurst worked with diverse choirs across the country, from classical to contemporary groups of assorted sizes, to produce training data for an A.I. model. In a wall text, the artists explain that “The Call” consists of more than just the A.I.’s output. They also consider the collection of the data and the training of the machine as works of art.“We’re offering a beautiful way to make A.I.,” the artists’ statement adds. Their utopian take is that A.I. is collectively made: It learns from whatever it is exposed to and can therefore be shaped for good.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Has Put an End to an Era. The Future Is Up for Grabs.

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      Kamala Harris lost the presidential election, but one of her campaign slogans was vindicated in defeat. “We’re not going back!” the Democratic nominee insisted on the campaign trail, and she was unintentionally correct: Donald Trump’s return to power is proof that we have lived through a real turning point in history, an irrevocable shift from one era to the next.In Trump’s first term, he did not look like a historically transformative president. His victory was narrow, he lacked real majority support, he was swiftly unpopular and stymied and harassed.Even if his 2016 upset proved that discontent with the official consensus of the Western world ran unexpectedly deep, the way he governed made it easy to regard his presidency as accidental and aberrant — a break from a “normal” world of politics that some set of authority figures could successfully reimpose.Much of the opposition to his presidency was organized around this hope, and the election of Joe Biden seemed like vindication: Here was the restoration, the return of the grown-ups, normality restored.But somewhere in this drama, probably somewhere between the first reports of a deadly flu in Wuhan, China, and Vladimir Putin’s invasion of Ukraine, one of history’s wheels turned irrevocably, and the normal that Trump’s opponents aspired to recover slipped definitively into the past.A restoration? No: The post-Cold War era has ended, and we’re not going back.This may sound a bit like the most alarmist interpretations of the Trump era — that we are exiting the liberal democratic age and entering an autocratic, or at least authoritarian, American future.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      What Trump 2.0 Means for Tech + A.I. Made Me Basic + HatGPT!

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      Listen to and follow ‘Hard Fork’Apple | Spotify | Amazon | YouTube | iHeartRadioKevin Roose and Rachel Cohn and Dan PowellElisheba IttoopPat McCusker and As of this week, we have a new president-elect. We discuss how the incoming administration’s approach to technology will affect Elon Musk, a TikTok ban, Big Tech’s antitrust challenges and the speed of A.I. progress. Then, Kashmir Hill, a technology reporter for The Times, joins to discuss her weeklong experiment of letting A.I. make every decision in her life. And finally, we play a round of election-free HatGPT!Guest:Kashmir Hill, technology reporter for The New York Times.Additional Reading:What a Trump Victory Means for TechI Took a ‘Decision Holiday’ and Put A.I. in Charge of My LifeAn ‘Interview’ With a Dead Luminary Exposes the Pitfalls of A.I.Meta’s Plan for Nuclear-Powered A.I. Data Center Thwarted by Rare BeesFired Employee Allegedly Hacked Disney World’s Menu System to Alter Peanut Allergy InformationPhoto Illustration by The New York Times; Photos: Doug Mills/The New York Times (Trump); Getty Images (emojis)Credits“Hard Fork” is hosted by More

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      Physical Intelligence, a Specialist in Robot A.I., Raises $400 Million

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      The start-up raised $400 million in a funding round with investments from the likes of Jeff Bezos, Thrive Capital and OpenAI.Physical Intelligence, an artificial intelligence start-up seeking to create brains for a wide variety of robots, plans to announce on Monday that it had raised $400 million in financing from major investors.The round was led by Jeff Bezos, Amazon’s executive chairman, and the venture capital firms Thrive Capital and Lux Capital. Other investors include OpenAI, Redpoint Ventures and Bond.The fund-raising valued the company at about $2 billion, not including the new investments. That’s significantly more than the $70 million that the start-up, which was founded this year, had raised in seed financing.The company wants to make foundational software that would work for any robot, instead of the traditional approach of creating software for specific machines and specific tasks.“What we’re doing is not just a brain for any particular robot,” said Karol Hausman, the company’s co-founder and chief executive. “It’s a single generalist brain that can control any robot.”It’s a tricky task: Building such a model requires a huge amount of data on how to operate in the real world. Those information sets largely do not exist, compelling the company to compile its own. Its work has been aided by big leaps in A.I. models that can interpret visual data.Among the company’s co-founders are Mr. Hausman, a former robotics scientist at Google; Sergey Levine, a professor at the University of California, Berkeley; and Lachy Groom, an investor and former executive at the payments giant Stripe.In a paper published last week, Physical Intelligence showed how its software — called π0, or pi-zero — enabled robots to fold laundry, clear a table, flatten a box and more.“It’s a true generalist,” Mr. Hausman said. Physical Intelligence executives said that its software was closer to GPT-1, the first model published for chatbots by OpenAI, than to the more advanced brains that power ChatGPT.Mr. Groom said that it was hard to predict the rate of progress: A ChatGPT-style breakthrough “could be far sooner than we expect, or it could definitely be far out.”The field of robotics A.I. is getting crowded, with players including Skild, which is also working on general-purpose robot A.I.; Figure AI, whose backers include OpenAI and Mr. Bezos; and Covariant, which focuses on industrial applications.Amazon has a vested interest in the industry, and has been adding more robots in its operations as it seeks to drive down costs and get orders to customers faster. Tesla also has major A.I. ambitions, with Elon Musk recently saying that the company’s humanoid robot would be “the biggest product ever of any kind.” More

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      Nvidia Will Replace Intel in the Dow Jones Stock Index

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      The change, starting next Friday, lifts a dominant player in artificial intelligence over its chip-making rival, which has struggled to keep up.The chip-maker Nvidia will soon replace its rival Intel in the Dow Jones industrial average, S&P Dow Jones Indices said on Friday, reflecting Nvidia’s dominance in the world of artificial intelligence.S&P Dow Jones Indices, which maintains the stock index, said in a statement that the change would take place before the opening of trading next Friday “to ensure a more representative exposure to the semiconductors industry.”Nvidia established an early foothold in the A.I. revolution, tailor-making its chips for machine learning tasks and building a community of A.I. programmers who were eager to develop their technology on the company’s hardware. The bet paid off. Nvidia now accounts for the majority of A.I. chip sales and has become the second-most-valuable company in the world, slightly trailing Apple at $3.32 trillion after trading hours on Friday.Intel, which makes the chips that serve as the brains of most computers, once considered buying Nvidia. But its board resisted the acquisition, and Nvidia went on to become a dominant player in the A.I. boom while Intel struggled to keep up. Intel’s market capitalization has fallen below $1 trillion.“The thing that we understood is that this is a reinvention of how computing is done,” Jensen Huang, Nvidia’s chief executive and one of its founders, told The New York Times last year. “And we built everything from the ground up, from the processor all the way up to the end.”A recent stock split at Nvidia prompted speculation that it would replace Intel on the Dow Jones. In June, Nvidia unveiled a 10-for-one stock split that would make it easier for a retail investor to buy into the company without diluting its valuation.Spokeswomen for Nvidia and Intel declined to comment. More