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Sergey Brin, president of Alphabet and co-founder of Google

David Paul Morris | Bloomberg | Getty Images

Google co-founder Sergey Brin, in a rare public appearance over the weekend, told a group of artificial intelligence enthusiasts that he came out of retirement “because the trajectory of AI is so exciting.”

Brin, 50, spoke to entrepreneurs on Saturday at the “AGI House” in Hillsborough, California, just south of San Francisco, where developers and founders were testing Google’s Gemini model. AGI stands for artificial general intelligence and refers to a form of AI that can complete tasks to the same level, or a step above, humans.

In taking questions from the crowd, Brin discussed AI’s impact on search and how Google can maintain its leadership position in its core market as AI continues to grow. He also commented on the flawed launch last month of Google’s image generator, which the company pulled after users discovered historical inaccuracies and questionable responses.

“We definitely messed up on the image generation,” Brin said on Saturday. “I think it was mostly due to just not thorough testing. It definitely, for good reasons, upset a lot of people.”

Google said last week that it plans to relaunch the image generation feature soon.

Brin co-founded Google with Larry Page in 1998, but stepped down as president of Alphabet in 2019. He remains a board member and a principal shareholder, with a stake in the company worth about $100 billion. He’s returned to work at the company as part of an effort to help ramp up Google’s position in the hypercompetitive AI market.

In some cases on Saturday, Brin said he was giving “personal” answers, as opposed to representing the company.

Google's jumbled AI rollout

“Seeing what these models can do year after year is astonishing,” he said at the event, a recording of which was viewed by CNBC.

Regarding the recent challenges with Gemini that led to flawed image results, Brin said the company isn’t quite sure why responses have a leftward tilt, in the political sense.

“We haven’t fully understood why it leans left in many cases” but “that’s not our intention,” he said. The company has recently made accuracy improvements by as much as 80% on certain internal tests, Brin added.

Brin’s comments represent the first time a company executive has spoken on the Gemini matter in a live setting. The company previously sent prepared statements from Prabhakar RaghavanGoogle’s head of search, and CEO Sundar Pichai in response to the controversial rollout.

Here’s what Raghavan said in a blog post on Feb. 23:

“So what went wrong? In short, two things. First, our tuning to ensure that Gemini showed a range of people failed to account for cases that should clearly not show a range. And second, over time, the model became way more cautious than we intended and refused to answer certain prompts entirely — wrongly interpreting some very anodyne prompts as sensitive. These two things led the model to overcompensate in some cases, and be over-conservative in others, leading to images that were embarrassing and wrong.”

Google declined to comment for this story. Brin didn’t immediately respond to a request for comment. 

‘Some pretty weird things’

Brin said Google is far from alone in its struggles to produce accurate results with AI. He cited OpenAI’s ChatGPT and Elon Musk’s Grok services as AI tools that, “say some pretty weird things that are out there that definitely feel far left, for example.”

Hallucinations, or false responses to a user’s prompt, are still “a big problem right now,” he said. “No question about it.”

“We have made them hallucinate less and less over time, but I’d definitely be excited to see a breakthrough that’s near-zero,” Brin said. “But you can’t just like — count on breakthroughs so I think we’re just going to keep doing the incremental things we do to bring it down, down, down over time.”

When asked by an attendee if he wants to build AGI, Brin answered in the affirmative, citing the ability for AI to help with “reasoning.”

Brin was also asked how online advertising will be disrupted considering ad revenue is core to Google’s business. The company has reported slowing ad growth in the last few years.

Sergey Brin, Google Inc. co-founder, left, Larry Page, Google Inc. co-founder, center, and Eric Schmidt, Google Inc. chairman and chief executive officer, attend a news conference inside the Sun Valley Inn at the 28th annual Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 8, 2010.

Bloomberg | Bloomberg | Getty Images

“I of all people am not too terribly concerned about business model shifts,” Brin said. “I think it’s wonderful that we’ve been now for 25 years, or whatever, able to give just world class information search for free to everyone and that’s supported by advertising, which in my mind is great for the world.”

He did acknowledge that the business is likely to change.

“I expect business models are going to evolve over time,” he said. “And maybe it will still be advertising because advertising could work better, the AI is able to better tailor it.”

Brin is confident in Google’s position.

“I personally feel as long as there’s huge value being generated, we’ll figure out the business models,” he said.

Beyond AI, Brin was asked about Google’s difficulties in hardware given recent advancements in virtual reality. Google was notoriously early to the augmented reality market with the now-defunct Google Glass.

“I feel like I made some bad decisions,” he said, referring to Google Glass. If he were doing it differently, Brin said, he would have the treated Google Glass as a prototype instead of a product. “But, I’m still a fan of the lightweight” form, he said.

In regards to the Apple Vision Pro and Meta’s Quest headsets, Brin said, “They’re very impressive.”

When asked about how he sees Gemini impacting spatial computing or products like Google Maps or Street view, Brin responded with as much curiosity as anything.

“To be honest, I haven’t thought about it, but now that you say it, yeah there’s no reason we couldn’t put in more 3D data,” Brin said, to laughs from the crowd. “Maybe somebody’s doing it at Gemini — I don’t know.”

WATCH: Google vs. Google

Google vs. Google: The internal struggle holding back its AI

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USDC stablecoin issuer Circle files for IPO as public markets open to crypto

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USDC stablecoin issuer Circle files for IPO as public markets open to crypto

Jeremy Allaire, Co-Founder and CEO, Circle 

David A. Grogan | CNBC

Circle, the company behind the USDC stablecoin, has filed for an initial public offering with the U.S. Securities and Exchange Commission.

The S1 lays the groundwork for Circle’s long-anticipated entry into the public markets.

While the filing does not yet disclose the number of shares or a price range, sources told Fortune that Circle plans to move forward with a public filing in late April and is targeting a market debut as early as June.

JPMorgan Chase and Citi are reportedly serving as lead underwriters, and the company is seeking a valuation between $4 billion and $5 billion, according to Fortune.

This marks Circle’s second attempt at going public. A prior SPAC merger with Concord Acquisition Corp collapsed in late 2022 amid regulatory challenges. Since then, Circle has made strategic moves to position itself closer to the heart of global finance — including the announcement last year that it would relocate its headquarters from Boston to One World Trade Center in New York City.

Read more about tech and crypto from CNBC Pro

Circle is best known as the issuer of USDC, the world’s second-largest stablecoin by market capitalization.

Pegged one-to-one to the U.S. dollar and backed by cash and short-term Treasury securities, USDC has roughly $60 billion in circulation.

Circle is best known as the issuer of USDC, the world’s second-largest stablecoin by market capitalization.

Pegged one-to-one to the U.S. dollar and backed by cash and short-term Treasury securities, USDC has roughly $60 billion in circulation. It makes up about 26% of the total market cap for stablecoins, behind Tether‘s 67% dominance. Its market cap has grown 36% this year, however, compared with Tether’s 5% growth.

Coinbase CEO Brian Armstrong said on the company’s most recent earnings call that it has a “stretch goal to make USDC the number 1 stablecoin.” 

The company’s push into public markets reflects a broader moment for the crypto industry, which is navigating renewed political favor under a more crypto-friendly U.S. administration. The stablecoin sector is ramping up as the industry grows increasingly confident that the crypto market will get its first piece of U.S. legislation passed and implemented this year, focusing on stablecoins.

Stablecoins’ growth could have investment implications for crypto exchanges like Robinhood and Coinbase as they integrate more of them into crypto trading and cross-border transfers. Coinbase also has an agreement with Circle to share 50% of the revenue of its USDC stablecoin.

The stablecoin market has grown about 11% so far this year and about 47% in the past year, and has become a “systemically important” part of the crypto market, according to Bernstein. Historically, digital assets in this sector have been used for trading and as collateral in decentralized finance (DeFi), and crypto investors watch them closely for evidence of demand, liquidity and activity in the market.

More recently, however, rhetoric around stablecoins’ ability to help preserve U.S. dollar dominance – by exporting dollar utility internationally and ensuring demand for U.S. government debt, which backs nearly all dollar-denominated stablecoins – has grown louder.

A successful IPO would make Circle one of the most prominent crypto-native firms to list on a U.S. exchange — an important signal for both investors and regulators as digital assets become more entwined with the traditional financial system.

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Hims & Hers shares rise as company adds new weight-loss medications to platform

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Hims & Hers shares rise as company adds new weight-loss medications to platform

The Hims app arranged on a smartphone in New York on Feb. 12, 2025.

Gabby Jones | Bloomberg | Getty Images

Hims & Hers Health shares closed up 5% on Tuesday after the company announced patients can access Eli Lilly‘s weight loss medication Zepbound and diabetes drug Mounjaro, as well as the generic injection liraglutide, through its platform.

Zepbound, Mounjaro and liraglutide are part of the class of weight loss medications called GLP-1s, which have exploded in popularity in recent years. Hims & Hers launched a weight loss program in late 2023, but its GLP-1 offerings have evolved as the company has contended with a volatile supply and regulatory environment.

Lilly’s weekly injections Zepbound and Mounjaro will cost patients $1,899 a month, according to the Hims & Hers website. The generic liraglutide will cost $299 a month, but it requires a daily injection and can be less effective than other GLP-1 medications.

“As we look ahead, we plan to continue to expand our weight loss offering to deliver an even more holistic, personalized experience,” Dr. Craig Primack, senior vice president of weight loss at Hims & Hers, wrote in a blog post.

A Lilly spokesperson said in a statement that the company has “no affiliation” with Hims & Hers and noted that Zepbound is available at lower costs for people who are insured for the product or for those who buy directly from the company. 

In May, Hims & Hers started prescribing compounded semaglutide, the active ingredient in Novo Nordisk‘s GLP-1 weight loss medications Ozempic and Wegovy. The offering was immensely popular and helped generate more than $225 million in revenue for the company in 2024.

But compounded drugs can traditionally only be mass produced when the branded medications treatments are in shortage. The U.S. Food and Drug Administration announced in February that the shortage of semaglutide injections products had been resolved.

That meant Hims & Hers had to largely stop offering the compounded medications, though some consumers may still be able to access personalized doses if it’s clinically applicable. 

During the company’s quarterly call with investors in February, Hims & Hers said its weight loss offerings will primarily consist of its oral medications and liraglutide. The company said it expects its weight loss offerings to generate at least $725 million in annual revenue, excluding contributions from compounded semaglutide.

But the company is still lobbying for compounded medications. A pop up on Hims & Hers’ website, which was viewed by CNBC, encourages users to “use your voice” and urge Congress and the FDA to preserve access to compounded treatments.

With Tuesday’s rally, Hims and Hers shares are up about 27% in 2025 after soaring 172% last year.

WATCH: Hims & Hers shares tumble over concerns around weight-loss business

Hims & Hers shares tumble over concerns around weight-loss business

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Meta’s head of AI research announces departure

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Meta's head of AI research announces departure

Meta CEO Mark Zuckerberg holds a smartphone as he makes a keynote speech at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.

Manuel Orbegozo | Reuters

Meta’s head of artificial intelligence research announced Tuesday that she will be leaving the company. 

Joelle Pineau, the company’s vice president of AI research, announced her departure in a LinkedIn post, saying her last day at the social media company will be May 30. 

Her departure comes at a challenging time for Meta. CEO Mark Zuckerberg has made AI a top priority, investing billions of dollars in an effort to become the market leader ahead of rivals like OpenAI and Google.

Zuckerberg has said that it is his goal for Meta to build an AI assistant with more than 1 billion users and artificial general intelligence, which is a term used to describe computers that can think and take actions comparable to humans.

“As the world undergoes significant change, as the race for AI accelerates, and as Meta prepares for its next chapter, it is time to create space for others to pursue the work,” Pineau wrote. “I will be cheering from the sidelines, knowing that you have all the ingredients needed to build the best AI systems in the world, and to responsibly bring them into the lives of billions of people.”

Vice President of AI Research and Head of FAIR at Meta Joelle Pineau attends a technology demonstration at the META research laboratory in Paris on February 7, 2025.

Stephane De Sakutin | AFP | Getty Images

Pineau was one of Meta’s top AI researchers and led the company’s fundamental AI research unit, or FAIR, since 2023. There, she oversaw the company’s cutting-edge computer science-related studies, some of which are eventually incorporated into the company’s core apps. 

She joined the company in 2017 to lead Meta’s Montreal AI research lab. Pineau is also a computer science professor at McGill University, where she is a co-director of its reasoning and learning lab.

Some of the projects Pineau helped oversee include Meta’s open-source Llama family of AI models and other technologies like the PyTorch software for AI developers.

Pineau’s departure announcement comes a few weeks ahead of Meta’s LlamaCon AI conference on April 29. There, the company is expected to detail its latest version of Llama. Meta Chief Product Officer Chris Cox, to whom Pineau reported to, said in March that Llama 4 will help power AI agents, the latest craze in generative AI. The company is also expected to announce a standalone app for its Meta AI chatbot, CNBC reported in February

“We thank Joelle for her leadership of FAIR,” a Meta spokesperson said in a statement. “She’s been an important voice for Open Source and helped push breakthroughs to advance our products and the science behind them.” 

Pineau did not reveal her next role but said she “will be taking some time to observe and to reflect, before jumping into a new adventure.”

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Meta awaits antitrust fine from EU

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