Traveling through Italy, I used ChatGPT as a tour guide for the moments where my mom and I wandered into interesting little corners, alleys and buildings where our curiosity was piqued with no tour guide around.
Salvador Rodriguez/CNBC
As I stood with my mom under the blistering sun in Rome waiting for our audio tour of the Pantheon to begin, I decided to kill some time with ChatGPT.
“Tell me about the Pantheon in Rome,” I said.
The AI tool returned a bunch of information in bullet points that was helpful but hardly made for an interesting read. So I tweaked my prompt and gave ChatGPT a bit more info.
“Pretend you’re a tour guide and tell that to me in a more interesting fashion,” I wrote.
My mom and I were in the midst of an epic seven-city trip in August to celebrate her 60th birthday. She had no idea that I was bringing along a digital companion.
“Welcome, Chef, to one of Rome’s most extraordinary treasures—The Pantheon,” the AI tool responded. (I asked ChatGPT to refer to me as Chef several months earlier to make the banter more entertaining.)
“As we stand here in front of this architectural marvel, let me take you on a journey back in time, where gods, emperors, and artists all intersect in this sacred space,” the chatbot wrote.
Since its launch in November 2022, OpenAI’s ChatGPT has revolutionized the field of artificial intelligence, along the way lifting the company’s valuation to an eye-popping $157 billion. AI startups have raised $111 billion in funding since the start of 2023, according to Crunchbase, and big tech companies have bought millions of Nvidia’s processors to train AI models. The generative AI market is predicted to surpass $1 trillion in revenue within a decade.
Yet, for many everyday internet users, figuring out what to even do with ChatGPT can be quite perplexing.
I use ChatGPT quite a bit. Almost weekly, I give it a list of five movies I want to watch and force it to pick one for me. I recently had it draw up a contract, and I’ve asked it to summarize long articles.
But my favorite ChatGPT use case so far has been as a tour guide in Italy.
“When you enter, look up,” the chatbot wrote, as we began our Pantheon visit. “That dome, Chef, is nothing short of a masterpiece. It’s the largest unreinforced concrete dome in the world, and it’s been like that for almost two millennia.”
ChatGPT’s 400-word write up was absolutely on par with the audio tour we had purchased, though the headset version did include our tickets for entrance.
Elsewhere on our trip, ChatGPT told us that the central figure of the Trevi Fountain was Neptune riding a chariot pulled by sea horses, and explained why Rome’s Stadio Olimpico still maintained a monument for Benito Mussolini.
“This particular monument has remained, partly because it is seen as a historical artifact,” the chatbot said.
ChatGPT explained to us about why truffles were such a common ingredient in Florence’s cuisine and how Austrian Archduke Maximilian I served as viceroy of Lombardy-Venetia in Milan before later being installed as emperor of Mexico by Napoleon III.
Acting as a tour guide in Rome, ChatGPT pointed out Michelangelo’s Christ the Redeemer at the Santa Maria sopra Minerva church in Rome.
Salvador Rodriguez/CNBC
We still need tour guides. For now
If you’re worried about the future of the human tour guide industry, rest assured that we used plenty of them across Italy.
In Vatican City, our tour guide, Amy, did an excellent job cutting the enormous line to get through security and into the Holy City. She showed us the art throughout the Vatican and prepared us to see the Sistine Chapel.
She also did what technology never could — she spun the Sfera con Sfera art structure in the Vatican’s Courtyard of the Pinecone. Spinning the enormous bronze sphere is a privilege reserved for the Vatican’s trusted tour guides.
My mom and I were grateful for the guide who showed us the spot where Julius Caesar was cremated in Rome, and for the one who led a boat tour of the five towns of Cinque Terre. Human guides also led us through the vineyards in Tuscany, a hidden courtyard in Venice, where the climactic scene of “Casino Royale” was filmed, and George Clooney’s villa in Lake Como.
But there were numerous moments when we wandered into interesting little corners, alleys and buildings and were able to satisfy our curiosity by turning to ChatGPT.
Perhaps the best example came when we left the Pantheon and walked across the piazza into Santa Maria sopra Minerva. The church was free to enter but we knew very little about it. So I asked ChatGPT.
“Tucked away just behind the Pantheon, this is one of the few Gothic churches in Rome, and it’s filled with treasures that tell the story of a city where the ancient and the sacred come together,” the chatbot wrote.
Among those treasures was a sculpture near the church’s altar.
“To your left, you’ll find one of the church’s most famous artworks — Michelangelo’s Christ the Redeemer,” ChatGPT said. “This stunning statue shows Christ holding the cross, with a gentle, almost serene expression. It’s a powerful work that captures both the humanity and divinity of Christ, and it’s remarkable to think that it was sculpted by the same hands that created the Sistine Chapel.”
A week later, my mom and I would have to fight off other tourists just to get a clean photo of Michelangelo’s David in Florence. But at the church in Rome, we were alone, with our friendly chatbot, at a historical statue created by the same artist.
Startup Figure AI is developing general-purpose humanoid robots.
Figure AI
Figure AI, an Nvidia-backed developer of humanoid robots, was sued by the startup’s former head of product safety who alleged that he was wrongfully terminated after warning top executives that the company’s robots “were powerful enough to fracture a human skull.”
Robert Gruendel, a principal robotic safety engineer, is the plaintiff in the suit filed Friday in a federal court in the Northern District of California. Gruendel’s attorneys describe their client as a whistleblower who was fired in September, days after lodging his “most direct and documented safety complaints.”
The suit lands two months after Figure was valued at $39 billion in a funding round led by Parkway Venture Capital. That’s a 15-fold increase in valuation from early 2024, when the company raised a round from investors including Jeff Bezos, Nvidia, and Microsoft.
In the complaint, Gruendel’s lawyers say the plaintiff warned Figure CEO Brett Adcock and Kyle Edelberg, chief engineer, about the robot’s lethal capabilities, and said one “had already carved a ¼-inch gash into a steel refrigerator door during a malfunction.”
The complaint also says Gruendel warned company leaders not to “downgrade” a “safety road map” that he had been asked to present to two prospective investors who ended up funding the company.
Gruendel worried that a “product safety plan which contributed to their decision to invest” had been “gutted” the same month Figure closed the investment round, a move that “could be interpreted as fraudulent,” the suit says.
The plaintiff’s concerns were “treated as obstacles, not obligations,” and the company cited a “vague ‘change in business direction’ as the pretext” for his termination, according to the suit.
Gruendel is seeking economic, compensatory and punitive damages and demanding a jury trial.
Figure didn’t immediately respond to a request for comment. Nor did attorneys for Gruendel.
The humanoid robot market remains nascent today, with companies like Tesla and Boston Dynamics pursuing futuristic offerings, alongside Figure, while China’s Unitree Robotics is preparing for an IPO. Morgan Stanley said in a report in May that adoption is “likely to accelerate in the 2030s” and could top $5 trillion by 2050.
Concerns about stock valuations in companies tied to artificial intelligence knocked the market around this week. Whether these worries will recede, as they did Friday, or flare up again will certainly be something to watch in the days and weeks ahead. We understand the concerns about valuations in the speculative aspects of the AI trade, such as nuclear stocks and neoclouds. Jim Cramer has repeatedly warned about them. But, in the past week, the broader AI cohort — including real companies that make money and are driving what many are calling the fourth industrial revolution — has been getting hit. We own many of them: Nvidia and Broadcom on the chip side, and GE Vernova and Eaton on the derivative trade of powering these energy-gobbling AI data centers. That’s not what should be happening based on their fundamentals. Outside of valuations, worries also center on capital expenditures and the depreciation that results from massive investments in AI infrastructure. On this point, investors face a choice. You can go with the bears who are glued to their spreadsheets and extrapolating the usable life of tech assets based on history, a seemingly understandable approach, and applying those depreciation rates to their financial models, arguing the chips should be near worthless after three years. Or, you can go with the commentary from management teams running the largest companies driving the AI trade, and what Jim has gleaned from talking with the smartest CEOs in the world. When it comes to the real players driving this AI investment cycle, like the ones we’re invested in, we don’t think valuations are all that high or unreasonable when you consider their growth rates and importance to the U.S., and by extension, the global economy. We’re talking about Nvidia CEO Jensen Huang, who would tell you that advancements in his company’s CUDA software have extended the life of GPU chip platforms to roughly five to six years. Don’t forget, CoreWeave recently re-contracted for H100s from Nvidia, which were released in late 2022. The bears with their spreadsheets would tell you those chips are worthless. However, we know that H100s have held most of their value. Or listen to Lisa Su, CEO of Advanced Micro Devices , who said last week that her customers are at the point now where “they can see the return on the other side” of these massive investments. For our part, we understand the spending concerns and the depreciation issues that will arise if these companies are indeed overstating the useful lives of these assets. However, those who have bet against the likes of Jensen Huang and Lisa Su, or Meta Platforms CEO Mark Zuckerberg, Microsoft CEO Satya Nadella, and others who have driven innovation in the tech world for over a decade, have been burned time and again. While the bears’ concerns aren’t invalid, long-term investors are better off taking their cues from technology experts. AI is real, and it will increasingly lead to productivity gains as adoption ramps up and the technology becomes ingrained in our everyday lives, just as the internet has. We have faith in the management teams of the AI stocks in which we are invested, and while faith is not an investment strategy, that faith is based on a historical track record of strong execution, the knowledge that offerings from these companies are best in class, and scrutiny of their underlying business fundamentals and financial profiles. Siding with these technology expert management teams, over the loud financial expert bears, has kept us on the right side of the trade for years, and we don’t see that changing in the future. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust, including NVDA, AVGO, GEV, ETN, META, MSFT.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 bounced back Friday, recovering from the prior session’s sharp losses. The broad-based index, which was still tracking for a nearly 1.5% weekly decline, started off the session a little shaky as Club stock Nvidia drifted lower after the open. It was looking like concerns about the artificial intelligence trade, which have been dogging the market, were going to dominate back-to-back sessions. But when New York Federal Reserve President John Williams suggested that central bankers could cut interest rates for a third time this year, the market jumped higher. Rate-sensitive stocks saw big gains Friday. Home Depot rose more than 3.5% on the day, mitigating a tough week following Tuesday’s lackluster quarterly release. Eli Lilly hit an all-time high, becoming the first drugmaker to reach a $1 trillion market cap. TJX also topped its all-time high after the off-price retailer behind T.J. Maxx, Marshalls, and HomeGoods, delivered strong quarterly results Wednesday. Carry trade: We’re also monitoring developments in Japan, which is dealing with its own inflation problem and questions about whether to resume interest rate hikes. That brings us to the popular Japanese yen carry trade, which is getting squeezed as borrowing costs there are rising. The yen carry trade involves borrowing yen at a low rate, then converting them into, say, dollars, and investing in higher-yielding foreign assets. That’s all well and good when the cost to borrow yen is low. It’s a different story now that borrowing costs in Japan are hitting 30-year highs. When rates rise, the profit margin on the carry trade gets crunched, or vanishes completely. As a result, investors need to get out, which means forced selling and price action that becomes divorced from fundamentals. It’s unclear if any of this is adding pressure to U.S. markets. We didn’t see anything in the recent quarterly earnings reports from U.S. companies to suggest corporate fundamentals are deteriorating in any meaningful way. That’s why we’re looking for other potential external factors, alongside the well-known concerns about artificial intelligence spending, the depreciation resulting from those capital expenditures, and general worries about consumer sentiment and inflation here in America. Wall Street call: HSBC downgraded Palo Alto Networks to a sell-equivalent rating from a hold following the company’s quarterly earnings report Wednesday. Analysts, who left their $157 price target unchanged, cited decelerating sales growth as the driver of the rerating, describing the quarter as “sufficient, not transformational.” Still, the Club name delivered a beat-and-raise quarter, which topped estimates across every key metric. None of this stopped Palo Alto shares from falling on the release. We chalked the post-earnings decline up to high expectations heading into the quarter, coupled with investor concerns over a new acquisition of cloud management and monitoring company Chronosphere. Palo Alto is still working to close its multi-billion-dollar acquisition of identity security company CyberArk , announced in July. HSBC now argues the stock’s risk-versus-reward is turning negative, with limited potential for upward estimate revisions for fiscal years 2026 and 2027. We disagree with HSBC’s call, given the momentum we’re seeing across Palo Alto’s businesses. The cybersecurity leader is dominating through its “platformization” strategy, which bundles its products and services. Plus, Palo Alto keeps adding net new platformizations each quarter, converting customers to use its security platform, and is on track to reach its fiscal 2030 target. We also like management’s playbook for acquiring businesses just before they see an industry inflection point. With Chronosphere, Palo Alto believes the entire observability industry needs to change due to the growing presence of AI. We’re reiterating our buy-equivalent 1 rating and $225 price target on the stock. Up next: There are no Club earnings reports next week. Outside of the portfolio, Symbotic, Zoom Communications , Semtech , and Fluence Energy will report after Monday’s close. Wall Street will also get a slew of delayed economic data during the shortened holiday trading week. U.S. retail sales and September’s consumer price index are scheduled for release early Tuesday. Durable goods orders and the Conference Board consumer sentiment are released on Wednesday morning. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.