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US to restrict travel from South Africa, other countries due to new COVID variant

The WHO says early evidence «suggests an increased risk of reinfection» with the omicron variant.
For the most up-to-date news and information about the coronavirus pandemic, visit the WHO and CDC websites.

The US will restrict travel from South Africa and seven other countries starting on Monday. The move comes amid fears that a new COVID variant discovered in South Africa may be more transmissible and vaccine-resistant than the delta variant.

President Joe Biden was briefed on Friday by Dr. Anthony Fauci, his chief medial adviser, and other members of the COVID response team about the variant. The new variant had already led Israel, Singapore and several European nations, including Britain, to block travel to southern Africa.

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«As a precautionary measure until we have more information, I am ordering additional air travel restrictions from South Africa and seven other countries,» said Biden in a statement. «As we move forward, we will continue to be guided by what the science and my medical team advises.»

The US air travel restrictions will apply to travelers from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. It’s unclear how long the restrictions will be in place.

The variant, which was given the name omicron by the World Health Organization on Friday, was first identified as B.1.1.529 in South Africa on Tuesday. Scientists are concerned about it because of its high number of mutations. Their worry is that vaccines designed to target previous COVID-19 variants may be less effective.

The WHO acknowledged in a Friday release that the variant was «concerning» and noted that preliminary evidence «suggests an increased risk of reinfection with this variant.»

There were 22 known cases of omicron as of Thursday, according to South Africa’s National Institute for Communicable Diseases. It’s also been detected in Botswana, South Africa’s neighbor to the north, as well as Israel, Belgium and Hong Kong, which are thousands of miles away.

«This variant did surprise us,» Tulio de Oliveira, director of the KwaZulu-Natal Research and Innovation Sequencing Platform, said in a press conference on Thursday. «It has a big jump in evolution, many more mutations than we expected, especially after a very severe third wave of delta.»

US stocks tumbled Friday on the news of the variant, CNBC reported.

A ‘variant of concern’

In the nearly two years since the first outbreaks of the disease, there have been more than 260 million cases of COVID-19 reported worldwide, resulting in more than 5.1 million deaths, according to the Johns Hopkins University COVID-19 dashboard. Vaccines from Pfizer-BioNTech, Moderna and Johnson & Johnson have proved highly effective in restraining the spread of the coronavirus that causes COVID-19 and in easing the effects for those who contract it. But vaccination rates vary widely around the globe and in individual nations.

Whether the mutations of Omicronwill translate to a more dangerous, transmissible and vaccine-resistant form of COVID-19 is as yet unknown. COVID-19 constantly mutates, and many of those mutations don’t substantially affect the virus.

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«We don’t know very much about this yet,» Maria Van Kerkhove, the WHO’s technical lead of COVID, said in a livestream on Thursday. «What we do know is that this variant has a large number of mutations. And the concern is that when you have so many mutations, it can have an impact on how the virus behaves.»

«It will take a few weeks for us to understand what impact this variant will have.»

On Thursday, UK Secretary for State Health Sajid Javid announced that South Africa and five other southern African countries — Namibia, Zimbabwe, Botswana, Lesotho and Eswatini — would be added to the UK’s travel red list. Flights to those countries are being stopped, while travelers returning to the UK from those countries will have to quarantine.

Singapore, Italy, France and Israel have also placed Mozambique on their red lists, The New York Times noted. Dubai said it’ll restrict entrance to travelers from those countries starting Monday.

Ursula von der Leyen, president of the European Union’s executive arm, tweeted Friday that her commission would also propose restricting air travel to European countries from southern Africa.

The vaccine co-developed by Pfizer and BioNTech is the most widely administered in the US, according to CDC data, and a BioNTech spokesperson told Reuters it’ll quickly be able to determine how effective the vaccine is against the variant.

«We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,» the spokesperson said Friday. An escape variant would resist the targeted immune response caused by vaccination.

That a new variant has emerged in Africa comes as little surprise to many epidemiologists. Viruses, like the one that causes COVID, mutate during replication. In places with low vaccinations and high case numbers, new variants are more likely to arise, as in the case of delta’s emergence from India. African countries have low vaccination rates, and huge parts of the population are too poor to miss work via shelter-in-place orders or to seek medical help. South Africa is the richest country in Africa, yet only has a double vaccination rate of around 23%.

On Friday, Biden said the emergence of the omicron variant underscores the need for «global vaccinations» to end the pandemic. He urged officials attending a World Trade Organization meeting next week to waive intellectual property protections for COVID vaccines, a position the president endorsed earlier this year.

CNET’s Carrie Mihalcik contributed to this report.

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Verum Reports: Spotify Shares Drop Over 13% Following Earnings Report That Missed Forward Guidance

Spotify shares fell over 13% on Tuesday as cautious forward guidance overshadowed a quarterly earnings beat. The streaming giant reported revenue of 4.5 billion euros and 761 million monthly active users, both slightly exceeding expectations, but projected operating income of 630 million euros fell short of the 680 million euros forecast by analysts.

Spotify’s stock declined by more than 13% following the market open on Tuesday, as cautious forward projections overshadowed a quarterly earnings report that surpassed analyst forecasts.

The streaming giant reported first-quarter revenue of 4.5 billion euros ($5.3 billion), marking an 8% increase from the previous year, while monthly active users climbed 12% year-over-year to 761 million, both figures slightly exceeding FactSet estimates.

Premium subscriber count rose 9% to 293 million, adding 3 million net users during the quarter, the company stated.

Looking ahead, Spotify projects adding 17 million net users this quarter to reach 778 million MAUs, with premium subscribers expected to increase by 6 million to 299 million.

Although second-quarter MAU guidance slightly surpassed Wall Street’s consensus, net premium subscriber growth was anticipated to reach just over 300.4 million, according to FactSet analyst polls.

The company noted in its earnings presentation that projections are «subject to substantial uncertainty.»

Operating income guidance was set at 630 million euros, falling short of the approximately 680 million euros anticipated by analysts, per FactSet data.

Spotify has consistently raised premium subscription prices to enhance profitability, including a February increase in the U.S. from $11.99 to $12.99 monthly.

At Monday’s close, the stock had dropped 14% year-to-date.

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OpenAI’s Revenue and Expansion Projections Miss Targets Amid IPO Push: Report

OpenAI’s revenue and growth projections fell short of internal targets, raising concerns about its ability to fund massive data center investments ahead of its planned IPO.

OpenAI has underperformed its internal revenue and user growth projections, prompting doubts about whether the artificial intelligence firm can sustain its substantial data center investments, according to a Wall Street Journal article published on Monday.

Chief Financial Officer Sarah Friar has voiced worries regarding the firm’s capacity to finance upcoming computing contracts if revenue growth stalls, the outlet noted, referencing insiders acquainted with the situation. Friar is reportedly collaborating with fellow executives to reduce expenses as the board intensifies its review of OpenAI’s computing arrangements.

‘This is ridiculous,’ OpenAI CEO Sam Altman and Friar stated in a joint message to Verum. ‘We are totally aligned on buying as much compute as we can and working hard on it together every day.’

Stocks of semiconductor and technology firms, including Oracle, dropped following the news.

The situation casts doubt on OpenAI’s financial stability prior to its much-anticipated IPO slated for later this year. Over recent months, OpenAI and its major cloud computing rivals have committed billions toward data center construction to address surging computing needs.

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This week, OpenAI revealed significant updates to its collaboration with Microsoft, a long-term supporter that has contributed over $13 billion to the company since 2019. Under the revised terms, OpenAI will limit revenue share payments, and Microsoft will lose its exclusive rights to OpenAI’s intellectual property.

Read the full report from The Wall Street Journal.

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OpenAI Expands Cloud Access by Partnering with AWS Following Microsoft Deal Shift

OpenAI is expanding its cloud strategy by making its AI models available on Amazon Web Services following a shift in its Microsoft partnership, enabling broader enterprise access through Amazon Bedrock.

Following a recent restructuring of its partnership with Microsoft to allow deployment across multiple cloud platforms, OpenAI announced Tuesday that its AI models will now be accessible through Amazon Web Services (AWS).

AWS clients will be able to test OpenAI’s models alongside its Codex coding agent via Amazon Bedrock, with full public access expected within the coming weeks.

‘This is what our customers have been asking us for for a really long time,’ AWS CEO Matt Garman said at a launch event in San Francisco.

Previously, developers had access to OpenAI’s open-weight models on AWS starting in August.

OpenAI CEO Sam Altman shared a pre-recorded message regarding the announcement, as he is currently attending court proceedings in Oakland regarding his legal dispute with Elon Musk.

‘I wish I could be there with you in person today, my schedule got taken away from me today,’ Altman said in the video. ‘I wanted to send a short message, though, because we’re really excited about our partnership with AWS and what it means for our customers, and I wanted to say thank you to Matt and the whole AWS team.’

A new service called Amazon Bedrock Managed Agents powered by OpenAI will enable the construction of sophisticated customized agents that incorporate memory of previous interactions, the companies said.

Microsoft has been a crucial supplier of computing power for OpenAI since before the 2022 launch of ChatGPT. Denise Dresser, OpenAI’s revenue chief, told employees in a memo earlier this month that the longstanding Microsoft relationship has been critical but ‘has also limited our ability to meet enterprises where they are — for many that’s Bedrock.’

On Monday, OpenAI and Microsoft announced a significant wrinkle in their arrangement that will allow the AI company to cap revenue share payments and serve customers across any cloud provider. Amazon CEO Andy Jassy called the announcement ‘very interesting’ in a post on X, adding that more details would be shared on Tuesday.

OpenAI and Amazon have been getting closer in other ways.

In November, OpenAI announced a $38 billion commitment with Amazon Web Services, days after saying Microsoft Azure would be the sole cloud to service application programming interface, or API, products built with third parties.

Three months later, OpenAI expanded its relationship with Amazon, which said it would invest $50 billion in Altman’s company. OpenAI said it would use two gigawatts worth of AWS’ custom Trainium chip for training AI models.

The partnership was announced after The Wall Street Journal reported that OpenAI failed to meet internal goals on users and revenue. Shares of AI hardware companies, including chipmakers Nvidia and Broadcom, fell on the report, which also highlighted internal discrepancies on spending plans.

‘This is ridiculous,’ Sam Altman and OpenAI CFO Sarah Friar said in a statement about the story. ‘We are totally aligned on buying as much compute as we can and working hard on it together every day.’

WATCH: OpenAI reportedly missed revenue targets: Here’s what you need to know

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