Billionaire Chewy cofounder Ryan Cohen takes over as gamestop CEO

Sep 28, 2023, 6:44 AM PDT

gamestop has a CEO once again after Ryan Cohen, the billionaire founder of Chewy, was appointed Thursday.

Cohen had been executive chairman since early June after CEO Matt Furlong was shown the door. The company reported a bigger-than-expected quarterly loss along with the dismissal of Furlong, a former Amazon executive.

Cohen won't be paid a salary for the CEO role, or for his role as chairman and president, the company said in a statement.

Cohen, who's the largest investor in gamestop with a 12.1% stake, sold Chewy in 2017 for $3.3 billion. He's worth about $3.2 billion, Forbes reported.

gamestop shares jumped more than 7% in premarket trading Thursday. However, gamestop is now worth about $5 billion - some $3 billion less than when Furlong was axed.

Cohen first took a stake in gamestop in 2020 and joined its board in January 2021 before becoming chairman that June. His initial appointment helped spark a 50% surge in gamestop shares in a matter of days as it became one of the "meme" stocks that triggered a frenzy among retail investors.

However, the company was also being touted months earlier on the subreddit r/WallStreetBets by Keith Gill, who was also known as u/DeepFuckingValue, or DFV, and on YouTube as Roaring Kitty.

The saga has had renewed attention following the release of the film "Dumb Money" earlier this month.

gamestop stock peaked in late January 2021 at $483, costing some hedge funds billions and generating huge gains for retail traders. Gill was seen by many as a David standing up to a Goliath, Insider previously reported.

Earlier this month, gamestop reported a slight rise in net sales for the second quarter ending July 29 to $1.164 billion, compared with the same period last year. The net loss was slashed from $108.7 million to $2.8 million for the period.

https://www.businessinsider.com/gamestop-billionaire-chewy-founder-ryan-cohen-ceo-2023-9

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NSA creates AI center to combat cyber threats from new tech tools

September 28, 2023

The National Security Agency is getting an artificial intelligence makeover.

Army Gen. Paul Nakasone, NSA director, said Thursday that the spy agency is forming a new unit to tackle cybersecurity challenges from AI.

The NSA’s forthcoming AI Security Center will be the agency’s main hub for scrutinizing and testing AI to promote the safe design and adoption of AI tools for the national security community to use, he said.

“The AI Security Center will also help industry understand the threats against their intellectual property and collaborate to help prevent and eradicate threats,” Gen. Nakasone said at the National Press Club. “The AI Security Center will work closely with U.S. industry, national labs, academia, across the IC and Department of Defense and select foreign partners.”

The new AI team will be housed within the NSA’s Cybersecurity Collaboration Center, which America’s codemaking and codebreaking spy agency uses to team with private companies to fight foreign cyber threats.

The Cybersecurity Collaboration Center enabled the NSA and private cyber analysts to stop known Chinese government hackers from breaching an entity in the U.S. defense industrial base last year, according to Gen. Nakasone.

AI makers are increasingly worried about China and other foreign adversaries stealing their research and using it for bad purposes.

Google DeepMind, the company’s AI research team, told House lawmakers at a private meeting in May it was rethinking how it publishes and shares its work over security concerns involving China.

Google was looking to make the AI research more closely held and feared China may use the information for military purposes, according to a source close to the House Select Committee on the Chinese Communist Party.

As China and private enterprises work to get their hands on the latest AI technology, the U.S. intelligence community is preparing for a world where all of its spies use AI.

America’s spy services have adopted an “AI-first” approach to spycraft and want everyone in their agencies to use AI, said Rachel Grunspan of the Office of the Director of National Intelligence.

As the leader overseeing how the intelligence community uses AI, Ms. Grunspan said in July she expects AI to be used for hybrid war games and simulations among many other things.

“Anything that is getting AI in the hands of individual officers regardless of their job, regardless of their role, regardless of their background, technical or not, and just maximizing the capacity of the entire workforce,” Ms. Grunspan said at the Intelligence and National Security Summit. “That’s where I see us going.”

The precise AI tools the spies will use remains to be determined but Booz Allen Hamilton’s Patrick Biltgen said he foresaw the nearest-term application of AI being in the form of an assistant to all intelligence officers.

Mr. Biltgen, a contractor with U.S. agencies on AI projects, said at the July conference that he envisioned the AI assistant would resemble how the fictional character J.A.R.V.I.S. assists Tony Stark in the popular superhero story “Iron Man.”

https://www.washingtontimes.com/news/2023/sep/28/nsa-creates-ai-center-combat-cyber-threats-new-tec/

Human Events with Jack Posobiec EPISODE 571: EXCLUSIVE INTERVIEW W/ DONALD TRUMP JR.

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