Amazon is reportedly developing its own AI 'reasoning' model
Amazon reportedly wants to get in on the AI "reasoning" model game.
According to Business Insider, Amazon is developing an AI model that incorporates advanced "reasoning" capabilities, similar to models like OpenAI's o3-mini and Chinese AI lab DeepSeek's R1. The model may launch as soon as June under Amazon's Nova brand, which the company introduced at its re:Invent developer conference last year.
Reasoning models take a step-by-step, more considered approach to answering queries. This tends to boost their reliability in domains like math and science.
The report says Amazon aims to adopt a "hybrid" reasoning architecture for its new model, along the lines of Anthropic's recently released Claude 3.7 Sonnet. Should that come to pass, the model could provide quick answers and more complex extended thinking within a single system.
Amazon also hopes to make its Nova reasoning model more price-efficient than competitors, Business Insider claims. That might be a tall order. DeepSeek has developed a reputation for pricing its models incredibly cheaply.
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CNN
6 minutes ago
- CNN
Venice is wild with rumors over the secretive Bezos-Sanchez wedding
Plagued by the looming threat of disruptive protests, the upcoming Venetian wedding of Amazon founder Jeff Bezos and former news anchor and licensed pilot Lauren Sanchez — which is expected to be a lavish, multimillion-dollar affair — may be one of the most anticipated and closely guarded events to be held in the floating city of love. Spokespeople for the couple remain tight-lipped and invited guests have been required to sign NDAs, but a lid cannot be kept on widespread speculation about every detail of the event that is expected to take place this week. At Harry's Bar, a fabled institution that once counted Ernest Hemingway among its customers, the waiters are hoping some of the 200 guests — a mix of A-list celebrities, political dignitaries and powerful business executives — might stop in for one of their famous Bellini cocktails. Whether or not Bezos will bring his yet-unnamed groomsmen there, as George Clooney did when he married Amal Alamuddin in 2014, is anyone's guess. 'We hope so,' one of the waiters told CNN. 'We can't divulge anyone who has made a reservation. We protect the privacy of all of our guests, not just the billionaires.' From the date to the guest list, possible venues and the bridal gown, the rumor mill is spinning at a rapid pace. Proceedings are being overseen by boutique event planners Lanza and Baucina, the Italian duo who transformed Venice's Grand Canal into a red carpet for the Clooneys' glitzy wedding. Protesters believe there's no space for a Bezos wedding in Venice, but the company has insisted that its plans are respectful of the city and the unique set of challenges it faces as one of the most overpopulated tourist sites in Europe. 'Rumors of 'taking over' the city are entirely false and diametrically opposed to our goals and to reality,' they said in a statement shared with CNN. 'From the outset, instructions from our client and our own guiding principles were abundantly clear: the minimizing of any disruption to the city.' The couple is sourcing some 80% of wedding provisions from local vendors, including pastries from the Rosa Salva pastry shop, the oldest in Venice, whose owners told CNN they have been commissioned to create 'about 200 goodie bags.' Murano glassware designer Laguna B also confirmed to CNN that it is creating special party favors. The company declined to share any further details. Veneto regional president Luca Zaia is not concerned about the city's plans to manage the wedding, telling one local paper, 'I repeat, this is a city that handles 150,000 people a day. George Clooney, François-Henri Pinault and Salma Hayek, Alexandre Arnault, Elton John and many others got married here.' He also surmised that the President of the United States, who is scheduled to be in Europe this week for the NATO summit, could conceivably be on the guest list, telling Corriere della Sera, 'Of course, Donald Trump could also come to this wedding.' One imagines that Trump's priorities may have shifted considerably over the weekend. With guests sworn to secrecy about their attendance, Sanchez's very public bachelorette party in Paris last month may offer clues as to who will watch on as she and Bezos say 'I do.' Kim Kardashian, Kris Jenner, Katy Perry, and Eva Longoria all took part in celebrations that included a boat trip along the Seine. Oprah Winfrey, Mick Jagger and Ivanka Trump have also been invited, according to the Associated Press. As is tradition, Sanchez will be keeping details of her wedding gown, and its designer, under wraps until the big day, but close followers of her fashion will know she is a regular wearer of Dolce & Gabbana. Sanchez sat front and center at the Italian house's Alta Moda show in Sardinia last summer as her son Nikko Gonzalez walked the runway, signaling a close relationship with the brand. Others in the running to dress the bride could be the storied house of Oscar de la Renta. Sanchez did not attend this year's Met Gala, but she did notably wear a custom-made gown by the label for her 2024 debut. Around 30 of the city's elite water taxis, out of 280 total, are also thought to be reserved. One taxi driver told CNN he has been booked from June 25th through the 30th for 'a big wedding,' but declined to say more on the subject. Gondolas have also been put on hold, with the city's gondola association confirming they are ready for the event. The city's nine yacht ports have also been booked for the week leading up to the main event. Bezos' $500 million Koru, which is always tailed by the smaller L'Abeona, are both in the Adriatic Sea already, according to the Marine Traffic website. Venice's airspace is closed to drones and non-authorized traffic, but one source told CNN that permission has been granted for private helicopters, particularly for anyone needing special security, such as heads of state. The Marco Polo airport, no stranger to private jet traffic, already has a secluded area with direct access to private water taxis, making it easy for stars to slip into the city unseen. The wedding date itself, by far the most protected detail, still remains unconfirmed and the couple seem hellbent on keeping everyone guessing up until the last minute. A person close to Venice City Hall told CNN that the wedding planners secured a variety of venues over a period of days and will decide what happens where and when based on the most uncontrollable factors — weather and protesters. The wedding is expected to use a small handful of hotels in the city to accommodate guests or host events. One of the most talked-about possible venues is the Cini Foundation on the island of San Giorgio Maggiore, which has hosted everything from G7 events to private concerts. The sculpted gardens and monastery, where monks still pray, sit across the lagoon from the famous Piazza San Marco and would provide an intimate setting ideal for a dinner. Building work being carried out in mid-June looked suspiciously like a set being built — perhaps for a wedding concert? The Aman hotel on the Grand Canal, where the Clooneys chose to wed, has also been mentioned as a potential location. Another top contender is the Scuola Grande della Misericordia, a 16th-century armory that would be perfect for the ceremony itself — although it is more vulnerable to protesters, who have already threatened to block the canals if the wedding party tries to reach the venue. Interestingly, a rather wedding-esque gazebo has been erected next to the Excelsior Hotel on the Venice Lido, a stone's throw from where the Venice Film Festival is held each year. But, as with the rest of the venues, nothing is confirmed.
CNN
10 minutes ago
- CNN
Venice is wild with rumors over the secretive Bezos-Sanchez wedding
Plagued by the looming threat of disruptive protests, the upcoming Venetian wedding of Amazon founder Jeff Bezos and former news anchor and licensed pilot Lauren Sanchez — which is expected to be a lavish, multimillion-dollar affair — may be one of the most anticipated and closely guarded events to be held in the floating city of love. Spokespeople for the couple remain tight-lipped and invited guests have been required to sign NDAs, but a lid cannot be kept on widespread speculation about every detail of the event that is expected to take place this week. At Harry's Bar, a fabled institution that once counted Ernest Hemingway among its customers, the waiters are hoping some of the 200 guests — a mix of A-list celebrities, political dignitaries and powerful business executives — might stop in for one of their famous Bellini cocktails. Whether or not Bezos will bring his yet-unnamed groomsmen there, as George Clooney did when he married Amal Alamuddin in 2014, is anyone's guess. 'We hope so,' one of the waiters told CNN. 'We can't divulge anyone who has made a reservation. We protect the privacy of all of our guests, not just the billionaires.' From the date to the guest list, possible venues and the bridal gown, the rumor mill is spinning at a rapid pace. Proceedings are being overseen by boutique event planners Lanza and Baucina, the Italian duo who transformed Venice's Grand Canal into a red carpet for the Clooneys' glitzy wedding. Protesters believe there's no space for a Bezos wedding in Venice, but the company has insisted that its plans are respectful of the city and the unique set of challenges it faces as one of the most overpopulated tourist sites in Europe. 'Rumors of 'taking over' the city are entirely false and diametrically opposed to our goals and to reality,' they said in a statement shared with CNN. 'From the outset, instructions from our client and our own guiding principles were abundantly clear: the minimizing of any disruption to the city.' The couple is sourcing some 80% of wedding provisions from local vendors, including pastries from the Rosa Salva pastry shop, the oldest in Venice, whose owners told CNN they have been commissioned to create 'about 200 goodie bags.' Murano glassware designer Laguna B also confirmed to CNN that it is creating special party favors. The company declined to share any further details. Veneto regional president Luca Zaia is not concerned about the city's plans to manage the wedding, telling one local paper, 'I repeat, this is a city that handles 150,000 people a day. George Clooney, François-Henri Pinault and Salma Hayek, Alexandre Arnault, Elton John and many others got married here.' He also surmised that the President of the United States, who is scheduled to be in Europe this week for the NATO summit, could conceivably be on the guest list, telling Corriere della Sera, 'Of course, Donald Trump could also come to this wedding.' One imagines that Trump's priorities may have shifted considerably over the weekend. With guests sworn to secrecy about their attendance, Sanchez's very public bachelorette party in Paris last month may offer clues as to who will watch on as she and Bezos say 'I do.' Kim Kardashian, Kris Jenner, Katy Perry, and Eva Longoria all took part in celebrations that included a boat trip along the Seine. Oprah Winfrey, Mick Jagger and Ivanka Trump have also been invited, according to the Associated Press. As is tradition, Sanchez will be keeping details of her wedding gown, and its designer, under wraps until the big day, but close followers of her fashion will know she is a regular wearer of Dolce & Gabbana. Sanchez sat front and center at the Italian house's Alta Moda show in Sardinia last summer as her son Nikko Gonzalez walked the runway, signaling a close relationship with the brand. Others in the running to dress the bride could be the storied house of Oscar de la Renta. Sanchez did not attend this year's Met Gala, but she did notably wear a custom-made gown by the label for her 2024 debut. Around 30 of the city's elite water taxis, out of 280 total, are also thought to be reserved. One taxi driver told CNN he has been booked from June 25th through the 30th for 'a big wedding,' but declined to say more on the subject. Gondolas have also been put on hold, with the city's gondola association confirming they are ready for the event. The city's nine yacht ports have also been booked for the week leading up to the main event. Bezos' $500 million Koru, which is always tailed by the smaller L'Abeona, are both in the Adriatic Sea already, according to the Marine Traffic website. Venice's airspace is closed to drones and non-authorized traffic, but one source told CNN that permission has been granted for private helicopters, particularly for anyone needing special security, such as heads of state. The Marco Polo airport, no stranger to private jet traffic, already has a secluded area with direct access to private water taxis, making it easy for stars to slip into the city unseen. The wedding date itself, by far the most protected detail, still remains unconfirmed and the couple seem hellbent on keeping everyone guessing up until the last minute. A person close to Venice City Hall told CNN that the wedding planners secured a variety of venues over a period of days and will decide what happens where and when based on the most uncontrollable factors — weather and protesters. The wedding is expected to use a small handful of hotels in the city to accommodate guests or host events. One of the most talked-about possible venues is the Cini Foundation on the island of San Giorgio Maggiore, which has hosted everything from G7 events to private concerts. The sculpted gardens and monastery, where monks still pray, sit across the lagoon from the famous Piazza San Marco and would provide an intimate setting ideal for a dinner. Building work being carried out in mid-June looked suspiciously like a set being built — perhaps for a wedding concert? The Aman hotel on the Grand Canal, where the Clooneys chose to wed, has also been mentioned as a potential location. Another top contender is the Scuola Grande della Misericordia, a 16th-century armory that would be perfect for the ceremony itself — although it is more vulnerable to protesters, who have already threatened to block the canals if the wedding party tries to reach the venue. Interestingly, a rather wedding-esque gazebo has been erected next to the Excelsior Hotel on the Venice Lido, a stone's throw from where the Venice Film Festival is held each year. But, as with the rest of the venues, nothing is confirmed.
Business Insider
29 minutes ago
- Business Insider
Why all eyes are on the Strait of Hormuz, a 90-mile strip critical to global oil prices
Global investors are on alert about a 90-mile sea passage in the Middle East, fearing that any block of the Strait of Hormuz could derail global shipping and oil. Tensions in the Middle East escalated sharply after the US struck Iran's nuclear facilities on Sunday, prompting fears of retaliation from Tehran. Beyond concerns about defense and security, markets are concerned about the fallout for oil prices and the global economy should Iran block shipping in the Strait of Hormuz — a threat Tehran has repeated for years. "If Iran chooses to blockade the Strait of Hormuz, it'd be categorically negative," Kyle Rodda, a senior financial markets analyst at told Business Insider. "In the worst-case scenario, it would be incredibly impactful: higher fuel prices, higher inflation, slower growth, and interest rates higher than where they'd otherwise be," Rodda said. What is the Strait of Hormuz? One of the most geopolitically sensitive maritime routes, the Strait of Hormuz is just 21 miles across at its narrowest point. It connects the Persian Gulf to the Indian Ocean, with Iran to its north and the United Arab Emirates and Oman to its south. According to the US's Energy Information Administration, the Hormuz is one of the world's busiest shipping lanes, carrying about 20 million barrels of oil a day. Most energy shipments through the Strait of Hormuz have no other means of exiting the Persian Gulf, the starting sea point for major oil producers like Saudi Arabia to export their energy to the rest of the world. How much shipping goes through the Strait of Hormuz? About a quarter of seaborne oil and a fifth of global liquified natural gas trade moves through the Hormuz, so any disruption to shipping would hit the energy markets hard. "The bombing of Iranian nuclear facilities by the US over the weekend increased supply risks significantly for the oil and LNG market," wrote Warren Patterson, the head of commodities strategy at ING, on Monday. Can Iran really close the Strait? Iran doesn't have the legal authority to shut down marine traffic in the Hormuz. But it could disrupt the movement of vessels by other means, for example by damaging oil and shipping infrastructure. On Sunday, the Iranian parliament voted to close the Strait of Hormuz in retaliation against the US's action. The final decision still lies with the country's top security officials, according to Iran's state-owned Press TV. Analysts said they think an Iranian blockade is probably more about political posturing than real action. "While the headlines sound dramatic, the reality is that Iran's parliament holds no executive power over military or strategic decisions, particularly not ones with such far-reaching geopolitical and economic consequences," Dilin Wu, a research strategist at Pepperstone, told BI. "Iran is well aware that any direct disruption to global oil flows through the Strait would likely trigger a significant military and economic response, possibly escalating the conflict beyond its control," she added. Would the US be affected by a blockade? The US is an energy giant and has become a net energy exporter since 2019, so it's less prone to physical supply shock from a blockade of the Hormuz. However, the US could still be hit by the fallout from worsening global economic conditions. "Any negative impact would be through deteriorating financial conditions or through higher for longer rates as the Fed has another reason to delay cuts," Deutsche Bank analysts said in a Monday note. What about other countries? Asian countries would be the most affected by a blockade of the Hormuz, said Priyanka Sachdeva, a senior analyst at brokerage Phillip Nova. In 2024, over 80% of crude oil, condensates, and LNG that moved through the Hormuz headed to Asia, according to the EIA. "Asia, which consumes the lion's share of Middle Eastern oil, would be most vulnerable, with India, Japan, South Korea, and China facing logistical uncertainties and costlier re-routing," said Sachdeva. South European countries dependent on Gulf oil could also face higher import costs, although Saudi Arabia and the UAE can reroute significant volumes of such exports via pipelines and via a pipeline and the UAE port of Fujairah. What would a closure mean for gas prices and inflation? Energy is a key input cost, so any gains in oil prices are likely to drive up inflation broadly. The US's strike on Iran sent oil futures up to a five-month high late on Sunday. Oil prices are now up about 10% since Israel's strikes on Iran in June. These developments are taking place amid the summer driving season, when US gas demand peaks. Should the gains in oil prices be sustained, pump prices are likely to rise in the weeks ahead. According to the EIA, the price of gas typically rises by 2.4 cents per gallon when crude oil prices rise by $1. This translates into a gain of about 20 cents per gallon at current levels for oil futures.
