CNBC’s Deirdre Bosa reports on Google's latest AI model Gemini 3 Flash.

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

Rise of AI

Google has introduced Gemini 3 Flash, its latest AI model engineered for speed and cost efficiency, targeting real-world applications across its major products such as Search, Ads, Gmail, Docs, and Cloud. The model is part of Google's strategy to balance high performance with broad accessibility, reflecting a global trend towards practical AI deployment.

Additionally, Alphabet's autonomous driving subsidiary, Waymo, is reportedly in talks to raise over $15 billion at a valuation up to $110 billion, more than double its previous round. Waymo continues to expand its operations, delivering 450,000 rides per week without safety drivers, and is expected to contribute significantly to Alphabet's financials in the coming years.

Google unveils 'Gemini 3 Flash' AI model focused on speed and cost

We do have some breaking news on Google, and for that, we're going to go to Deirdre Boseth. Hey, De. Hey, good morning, Carl. So, Google just announcing its latest AI model called Gemini 3 Flash, quote, frontier intelligence built for speed at a fraction of the cost. Now, it prioritizes speed and margins over model and prestige, and this is really another part of the AI race that is built for real use. This is especially important for Google, where AI, it's not just a standalone product, but its AI has to run inside of search, ads, Gmail, docs, et cetera, and in the cloud at massive scale. In those businesses, speed and cost, that matters more than maximum deployment. Now, we're seeing the same tradeoff globally, particularly in China, where good enough models enable broader access and real-world adoption at scale. Google can run AI at both ends of the market, because models, and because it has the best models and the most practical one, it owns the pipeline. That's how it's able to do both of these. Now, on the other side of Alphabet, meanwhile, there's Waymo. The company is in talks to raise more than $15 billion at a valuation as high as $110 billion, more than double its last round, its last valuation, too, according to a source familiar with the discussions. Now, Waymo continues to extend its lead in autonomous driving, and our own Jen Elias has reported that Sundar Pichai has said that Waymo will meaningfully contribute to Alphabet's financials as soon as 2027. Now, Alphabet is leading the round, but like the last one, outside investors, they will get a chance to buy in, and that gives Google more financial flexibility as Waymo expands without carrying the full cost on its own balance sheet, and also keeps the option open for a future spinoff, guys. When you talk to Alphabet analysts, is it factored in into the company's results or outlook or valuation at all? You mean sort of the value that Waymo represents? Yeah. To be honest, not really. I mean, we look at sort of this comparison between Tesla, right, and the idea that there's so much expectation, and if you look at the forward P model multiple for a Tesla, so much more is baked in, and it really does feel like Waymo is far less appreciated, particularly when you consider that, you know, it's delivering 450,000 rides a week without any kind of safety driver. So, you know, that gap between Waymo and everyone else trying to do robo-taxis is only widening and feels very underappreciated. It's interesting. You've told viewers before about the number of miles logged, and they're light years ahead of what Tesla's been able to do. There's a lot of scrutiny about the crashes among Tesla robo-taxis in Austin, but Tesla's at 490. That's an all-time high. Yeah, absolutely. And it's that promise, right? And, you know, the Tesla bulls will say that Tesla's more vertically integrated, right? They have the vehicle. They have the software. They have the ride-sharing platform itself, whereas Google and Waymo, Waymo, the alphabet subsidiary, is sort of tapping into different vendors, and ultimately, some of what the Tesla bulls say is that that's harder to scale. Yes, that might be true in the future, but right now, we are seeing sort of incredible scale from Waymo. OK, Deirdre, thank you.

Vladimir Putin said Russia would achieve its goals by diplomatic or military means and would seek to expand a “security buffer” zone in Ukraine.

Moscow

Ukraine Invasion

Putin warns Russia will extend gains in Ukraine if peace talks fail

Newly-released surveillance video shows Nick Reiner at a gas station convenience store just hours after he allegedly fatally stabbed his parents, Rob and Michele Reiner, and minutes before he was taken into custody.

Los Angeles

New surveillance video shows Nick Reiner before his arrest

U.S. President Donald Trump announced on social media a "total and complete blockade of all sanctioned oil tankers" going in and out of Venezuela. Some details remain unclear, including when the order would be implemented and how many tankers could be involved.

Caracas

Trump orders blockade on Venezuela oil tankers

A man who allegedly opened fire on a Hanukkah celebration at Sydney's famed Bondi Beach has been charged with 59 offences, including murder and terrorism, New South Wales Police said.

Council of the City of Sydney

Accused Bondi Beach gunman formally charged with 59 offences

The Trump administration has issued a full travel ban on five more countries as well as people traveling on documents issued by the Palestinian Authority. It also imposed new limits on 15 other countries.

Washington

Trump expands travel ban, restrictions to include 20 new countries

Australia mourns victims of the Bondi Beach shooting – As police prepare charges against the surviving gunman.

Bondi Beach shooting: Funerals begin as investigation continues

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Providence

Police release new images of person of interest in Brown shooting

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Rob Reiner's son to be charged with first degree murder of parents

U.S. military actions in international waters near Venezuela are under scrutiny following a September 2nd strike on a boat the U.S. claimed was transporting drugs, though no evidence has been provided.

U.S. bombings in international waters face scrutiny over Venezuela

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U.S. hits three more alleged drug boats in the Pacific, killing eight

U.S. President Donald Trump has followed through on his threat to sue the BBC over a misleading video edit of a speech he made on January 6, 2021, and filed a lawsuit against the media corporation on December 15. He will be seeking 10 billion dollars in damages.

London

Trump sues BBC over misleading video editing of speech

Ukrainian President Volodymyr Zelenskyy says a proposal to end his country's nearly four-year war with Russia are "very workable" and could be finalized within days, but he warns key issues remain.

Kyiv

Zelenskyy says 'workable' peace plan could be presented to Russia soon

On December 16, the Paris labour court ruled on the long-running dispute between Kylian Mbappé and his former club, PSG. It ordered PSG to pay over 60 million euros to the player in unpaid wages and bonuses.

Paris

Mbappé to be awarded over 60 million euros by PSG, French court rules

Police say the alleged gunmen who opened fire at a Hanukkah celebration in Sydney's Bondi Beach had traveled to Mindanao in the Philippines last month, as investigators probe ties to extremist networks.

Bondi Beach

Islamic State link eyed after Bondi Beach gunmen's Philippine visit

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Berlin

EU vows to assist Ukraine against future Russia attack at Berlin talks

Australia's prime minister said a mass shooting at a Hanukkah celebration at Bondi Beach appears to have been motivated by ISIS ideology. Meanwhile, mourners flocked to the site to lay flowers and grieve for the people killed, including a 10-year-old child.

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California

FBI arrests four over alleged New Year’s Eve bomb plot in California

Police in Rhode Island are searching for a new person of interest following Saturday’s deadly shooting at Brown University. Investigators say the case remains active as authorities work to determine a motive.

New person of interest sought in Brown University shooting

The son of filmmaker Rob Reiner was arrested on homicide charges after the director of beloved movies like "When Harry Met Sally ..." and his wife were found dead in their Los Angeles home, a police official said on Monday.

Rob Reiner's son arrested after director and wife found dead

A jury found Brian Walshe guilty of first-degree murder in the death of his wife Ana on New Year's Day in 2023 in their Massachusetts home. Legal analyst Jennifer Roman joins with more details.

Boston

Brian Walshe found guilty of first-degree murder in wife's death

Hong Kong's High Court on Monday (December 15) found pro-democracy campaigner Jimmy Lai guilty of conspiracy to collude with foreign forces and to publish seditious material under a China-imposed national security law that could see him jailed for life.

Hong Kong Island

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Ukrainian President Volodymyr Zelenskyy and U.S. negotiators are meeting in Berlin. As the U.S. grows increasingly pressed to end the four-year war, the peace negotiations continue, with territorial concessions to Russia remaining the "sticking point" for Ukraine.

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Police have released a person of interest who was detained in a shooting at Brown University. Two students were killed and at least nine others were injured in the Saturday attack. Tom Hanson spoke with students about the shooting.

Police release person of interest in shooting at Brown University

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Brentwood

Director Rob Reiner and his wife found dead in their L.A. home

Far-right candidate Jose Antonio Kast wins Chile's presidential run-off, after defeating his leftist opponent.

Santiago

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The person of interest authorities took into custody in connection with the shooting at Brown University has been identified as Benjamin Erickson. He's a 24 year old, originally from Wisconsin.

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Two alleged gunmen who killed 15 people at a Jewish celebration in Sydney's Bondi Beach were a father and son, police said on Monday, as Australia mourned victims of its worst gun violence in almost 30 years. This video contains graphic images.

Father and son behind Bondi mass shooting, Australian police say

Israel has described a deadly mass shooting at Sydney’s Bondi Beach as an attack on Jews, after gunmen opened fire during a Jewish holiday event, killing at least 11 people.

Israel calls Bondi shooting attack on Jews, urges action on antisemitism

Two gunmen attacked a Hannukah celebration on a Sydney beach Sunday, killing at least 11 people in what Australian Prime Minister Anthony Albanese called an act of antisemitism and terrorism.

Google unveils 'Gemini 3 Flash' AI model focused on speed and cost

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