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Gates Foundation to Conclude Operations by 2045 After Spending Down Fortune

Gates Foundation to Conclude Operations by 2045 After Spending Down Fortune

The Gates Foundation, established by Bill Gates and his then-wife Melinda in 2000, is set to close its operations by December 31, 2045. This decision follows an announcement in 2025 by Bill Gates that the foundation would spend the majority of his fortune over the next two decades. The foundation has grown to become one of the largest private charities globally, focusing on critical areas such as global health (including vaccines, polio eradication, malaria, tuberculosis, and HIV), sanitation and nutrition in impoverished nations, agricultural support for small farmers, and education within the United States. Its work has notably contributed to significant reductions in childhood deaths and maternal mortality worldwide. The foundation also initiated the Giving Pledge in 2010 with Warren Buffett, encouraging billionaires to commit most of their wealth to philanthropy.

Neoclouds, AI stocks slide again as Nvidia turmoil rattles sector

Neoclouds, AI stocks slide again as Nvidia turmoil rattles sector

By Shashwat Chauhan Nov 13 (Reuters) - Shares of AI-related US companies dropped again on Friday, with neoclouds among the worst hit, fueled by fresh jitters over AI financing following Nvidia CEO Jensen Huang's abrupt exit.

Jen-Hsun and Lori Huang Foundation Assets Triple to $9.13 Billion Amid Nvidia's Growth

Jen-Hsun and Lori Huang Foundation Assets Triple to $9.13 Billion Amid Nvidia's Growth

The Jen-Hsun and Lori Huang Foundation, established in 2007 by Nvidia co-founder Jensen Huang and his wife Lori Huang, has seen its net assets nearly triple from approximately $3.34 billion to $9.13 billion between 2023 and 2024. This significant growth mirrors the skyrocketing value and profits of Nvidia. Lori Huang serves as the president of the foundation, with Jensen Huang as CFO and secretary. The foundation, which keeps a low profile with no public website or employee list, made its first reported donation of $40,000 to Stanford University in 2008. Since then, its philanthropic activities have expanded considerably. In 2024, the foundation donated around $126.3 million, with about 65% directed to a donor-advised fund, a mechanism that allows donors immediate tax deductions while advising on future disbursements. The foundation has a particular focus on Oregon State University, where the Huangs met, committing approximately $30.5 million to the institution in 2024. Other supported causes include highe...

Bill Gates' Farmland Acquisitions Driven by Diversified Investment Strategy, Not Solely Philanthropy

Bill Gates' Farmland Acquisitions Driven by Diversified Investment Strategy, Not Solely Philanthropy

Bill Gates' Farmland Acquisitions Driven by Diversified Investment Strategy, Not Solely Philanthropy

UNICEF Seeks Contracts Manager for Vaccine Supply Chain Amidst Global Health Partnerships

UNICEF Seeks Contracts Manager for Vaccine Supply Chain Amidst Global Health Partnerships

UNICEF is actively seeking a Contracts Manager for its Vaccine Centre within the Supply Division in Copenhagen. This P-4 fixed-term position is crucial for the strategic positioning, supply, and procurement of vaccines, safety injection equipment, and cold chain infrastructure to support immunization and health programs globally. The role involves close collaboration with key partners such as the Global Polio Eradication Initiative, Gavi Alliance, WHO, and the Gates Foundation. The Contracts Manager will be responsible for developing procurement strategies, overseeing vaccine procurement, managing supplier relationships, and ensuring compliance with UNICEF's financial rules and procurement procedures. The position also entails engaging with market-shaping partners and representing UNICEF Supply Division at partner meetings to provide supply perspectives.

Cerebras shares jump 17% on upbeat annual forecast, easing AI jitters

Cerebras shares jump 17% on upbeat annual forecast, easing AI jitters

By Anhata Rooprai Nov 12 (Reuters) - Cerebras Systems raised its 2026 revenue forecast and signed Microsoft as a customer, easing investor concerns about AI spending and sending the chip and cloud company's shares more than 17% higher in extended trading on Thursday.

Who is Colette Kress, Nvidia's interim CEO?

Who is Colette Kress, Nvidia's interim CEO?

Kress is one of few chief financial officers in the world to be a billionaire.

Factbox-Who is Nvidia interim CEO Colette Kress?

Factbox-Who is Nvidia interim CEO Colette Kress?

Nov 12 (Reuters) - Nvidia finance chief Colette Kress is set to take over as interim CEO from Jensen Huang, the company said on Thursday, putting her in charge of the chipmaker whose processors power the world's most advanced supercomputers and AI data centers.

World shares log modest losses as investors assess impact on AI sector from the Nvidia scandal

World shares log modest losses as investors assess impact on AI sector from the Nvidia scandal

Shares are mostly lower in Europe and Asia, but losses remain modest as investors assess how Jensen Huang’s resignation as Nvidia CEO might affect the global artificial intelligence industry

Jeff Bezos Predicts AI Could Enable Single-Income Households, Contrasting with Warnings from Other Tech Leaders

Jeff Bezos Predicts AI Could Enable Single-Income Households, Contrasting with Warnings from Other Tech Leaders

Jeff Bezos Predicts AI Could Enable Single-Income Households, Contrasting with Warnings from Other Tech Leaders

Stocks sway as Wall Street heads for a winning week after several turbulent days

Stocks sway as Wall Street heads for a winning week after several turbulent days

Stocks are swinging again on Wall Street, but the market remains on track for its first winning week since early October

IMF monitoring AI developments, too early to say if AI reassessment underway

IMF monitoring AI developments, too early to say if AI reassessment underway

WASHINGTON, Nov 12 (Reuters) - The International Monetary Fund is closely monitoring volatility in AI equity valuations and the US political shift that could slow data center development, but says it is too early to tell whether investors are souring on the sector for the long term.