Artificial Intelligence
Artificial Intelligence News: AI will add $15 trillion to the global economy (according to Gartner) by 2030. This fast-moving, technological breakthrough is powering the next industrial revolution and will disrupt the global economy in unforeseen ways. The DailyAlts AI channel tracks the latest developments, capital flows, technological advancements, and other influences that will transform the 2020s.
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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Artificial Intelligence: xAI, The Musk-Owned AI Startup, To Raise $1B
Elon Musk’s artificial intelligence startup, xAI, aims to secure $1 billion in equity financing to compete with industry leaders such as OpenAI, Microsoft, and Google. The company, co-founded by Musk, has already garnered $135 million from investors, as revealed in a filing with the US Securities and Exchange Commission.
Artificial Intelligence: Mistral AI, Europe’s Answer To OpenAI, Is On The Cusp Of Raising Nearly $500M
French AI startup Mistral AI is on the verge of raising approximately €450 million ($487 million) in a funding round that values the company at around $2 billion. The funding is expected to include more than €325 million in equity from investors led by Andreessen Horowitz, which is considering a €200 million investment. General Catalyst, Lightspeed Venture Partners, Bpifrance and several others also participated.
Venture Capital: Seismic Therapeutics Lands $121M For AI-Powered Immunology Drug Development
Seismic Therapeutic has successfully concluded a $121 million Series B financing round, led by Bessemer Venture Partners and featuring participation from new investors such as Amgen Ventures, Codon Capital, and others, alongside existing investors. This funding brings the total capital raised by the machine learning immunology company to $222 million.
Artificial Intelligence: AI Tracks Koalas Mating Calls To Help Protect The Species
In a groundbreaking initiative, artificial intelligence (AI) is aiding scientists in monitoring and safeguarding the iconic Australian koala population. A trial, employing smart sensors in New South Wales, harnesses AI technology to detect the distinct mating calls of male koalas. Activating upon hearing these guttural sounds, the sensors, fixed to trees, have been developed by the International Centre for Neuromorphic Systems (ICNS) at Western Sydney University.
Artificial Intelligence: Saudi Venture Fund Forced To Sell Shares In Altman-Backed Chip Startup Rain AI
The Biden administration has compelled Saudi Aramco (TADAWUL: 2222)-backed venture capital firm, Prosperity7, to divest its shares from Rain Neuromorphics, a Silicon Valley AI chip startup supported by Sam Altman, the co-founder of OpenAI. Rain Neuromorphics, which focuses on designing chips emulating the brain’s functionality to serve companies utilizing artificial intelligence (AI) algorithms, secured $25 million in funding in 2022.
Alternative Investments/AI: AI Models Pick Stocks For The New Equity ETF From Counterpoint
Counterpoint Funds has introduced the Counterpoint Quantitative Equity ETF (CPAI), a groundbreaking long-only equity ETF utilizing advanced artificial intelligence (AI) for dynamic factor exposure adjustments based on market conditions. The ETF aims for long-term capital appreciation by investing in top-ranking individual stocks with exposure to multiple factors, identified through quantitative models and AI.
Artificial Intelligence: Google Deepmind’s GNoME AI Tool Discovers 2.2 Million New Material Crystals
Google DeepMind researchers have made a groundbreaking discovery in the realm of materials science using artificial intelligence (AI). Through the AI tool GNoME, they identified a staggering 2.2 million crystal structures, significantly surpassing the cumulative discoveries in the history of science. This vast database, theoretically stable but not yet realized in experiments, holds potential applications in fields ranging from renewable energy to advanced computation.
Artificial Intelligence: Sam Altman Back At The Helm Of OpenAI, Microsoft Gains Board Seat
OpenAI has officially reinstated Sam Altman as CEO, following a deal reached just before Thanksgiving. With Microsoft (NASDAQ: MSFT) gaining a non-voting observer seat on OpenAI’s board, the tech giant will have increased visibility into the company’s operations but won’t have an official vote in major decisions. Microsoft holds a 49 percent stake in the for-profit entity controlled by the nonprofit board which now comprises Bret Taylor, Larry Summers, and Adam D’Angelo.
Artificial Intelligence: Amazon Unveils Its Q Chatbot For The Corporate Workplace
Amazon (NASDAQ: AMZN) has entered the chatbot competition with its new artificial intelligence assistant named Amazon Q, developed by the company’s cloud computing division. Unlike consumer-focused chatbots like ChatGPT and Bard, Amazon Q is designed for workplaces, aiming to assist employees with tasks such as summarizing strategy documents, filling out internal support tickets, and answering questions about company policy. The chatbot competes with other corporate chatbots like Copilot, Google’s (NASDAQ: GOOGL) Duet AI, and ChatGPT Enterprise.
FinTech/AI: Salesforce And AWS Expand Partnership
Amazon Web Services (AWS), a unit of Amazon.com Inc (NASDAQ: AMZN) and Salesforce (NYSE: CRM) have announced a significant expansion of their strategic partnership at AWS re:Invent. The collaboration deepens integrations across data and artificial intelligence (AI), making select Salesforce products available on the AWS Marketplace for the first time. This facilitates seamless and secure data management across both platforms, enabling the infusion of the latest AI technologies into applications and workflows.
Artificial Intelligence: Will You Suffer A Heart Attack? AI Can Tell…A Decade Before
The University of Oxford has achieved a groundbreaking milestone in heart health through the world’s first trial of an artificial intelligence (AI) tool capable of predicting the risk of fatal heart attacks a decade in advance. Unveiled at the American Heart Association’s scientific session, the results indicate a significant advancement in cardiac care, offering the potential to identify individuals at risk much earlier.
Artificial Intelligence: Tech-Heavy ESG Investors Increasingly Wary Of AI Risks
ESG fund managers, who previously considered big tech as a lucrative bet for low-carbon, high-return investments, are now expressing growing concerns about the risks associated with artificial intelligence (AI) in the sector. Marcel Stotzel, a portfolio manager at Fidelity International, highlights AI as a “short-term risk to investors” and is concerned about a potential “AI blowback” leading to a significant market decline.
Artificial Intelligence: JPMorgan Using AI To Gain An Edge Over The Competition
JPMorgan’s (NYSE: JPM) CEO of Asset Management, George Gatch, asserts that heavy investment in artificial intelligence (AI) has given the firm a significant edge in the market. Gatch, a veteran with 37 years at JPMorgan, revealed that the company is investing twice as much in AI compared to competitors to process data faster and manage risk more effectively.
Artificial Intelligence: A Powerful AI Discovery Triggered The Tumult At OpenAI (Reuters)
Several OpenAI staff researchers sent a letter to the board of directors, warning of a potent AI discovery with potential threats to humanity, which ultimately led to the ousting of CEO Sam Altman, according to a Reuters Exclusive. The letter highlighted an AI algorithm, Q* (pronounced Q-Star), as a catalyst for Altman’s removal.
Artificial Intelligence: Sam Altman And The OpenAI Board Discuss His Return (Update: He’s Back With New Board)
Sam Altman, co-founder and ousted CEO of OpenAI, is currently in negotiations with the company’s interim CEO, Emmett Shear, and board member Adam D’Angelo, for a potential reinstatement, according to undisclosed sources. Talks also involve some of OpenAI’s investors, including Thrive Capital, Khosla Ventures, and Tiger Global Management, who are advocating for Altman’s return. If reinstated, Altman might resume his role as the CEO, and discussions include the possibility of him becoming a director on a transitional board. The involvement of key players like Bret Taylor, former co-CEO of Salesforce Inc., (NYSE: CRM) is being considered.
Artificial Intelligence: OpenAI Employees Turn Up The Heat On Its Board; Threaten Mass Exodus
OpenAI is in turmoil as employees and investors call for the resignation of three directors, following the removal of CEO Sam Altman. In a letter to the board, employees expressed displeasure with the directors’ handling of Altman’s departure, with 747 out of 770 employees reportedly calling for the board’s resignation.
Artificial Intelligence: In A Dramatic Turn Of Events The OpenAI Board Fires Sam Altman (Update: Altman Joins Microsoft)
In a shocking turn of events, Sam Altman, a luminary in the artificial intelligence (AI) industry, was abruptly ousted from OpenAI, the company he co-founded. Altman, recognized as a leading voice in AI, played a crucial role in introducing many to the concept through OpenAI’s ChatGPT bot. The sudden dismissal, revealed by Altman’s board of directors, cited concerns about his lack of consistent communication and a subsequent loss of confidence in his leadership.
Artificial Intelligence: Menlo Ventures Arms Itself With $1.35B Warchest For AI Investments
Menlo Ventures has successfully raised $1.35 billion for funds dedicated to investing in technology companies specializing in artificial intelligence (AI). This substantial capital will be allocated between Menlo XVI, focusing on early-stage investments, and Menlo Inflection III, dedicated to early growth. The venture capital firm, established in 1976, boasts a rich history in Silicon Valley, managing around $5 billion in assets.
Artificial Intelligence: Microsoft Launches AI Chips To Power Its Azure Cloud
Microsoft (NASDAQ: MSFT) has announced its entry into the custom AI chip market with the introduction of two chips at its Ignite conference in Seattle. The Maia 100 artificial intelligence chip (pictured), aimed at competing with Nvidia’s (NASDAQ: NVDA) sought-after AI graphics processing units, and the Cobalt 100 Arm chip, designed for general computing tasks to rival Intel processors, will both be integrated into Microsoft’s Azure cloud.
FinTech: Mitsubishi Ties With AWS For Digitization And Cost Reduction Via Cloud Strategy
Mitsubishi UFJ Financial Group (MUFG) (TYO: 8306), Japan’s largest financial services provider, has entered a multiyear global agreement with Amazon Web Services (AWS) to accelerate its digital transformation and reduce IT costs. By adopting AWS as its preferred cloud provider, MUFG aims to leverage cloud technologies, including generative artificial intelligence (generative AI) and machine learning (ML), to enhance customer service across asset servicing, banking, and fund financing.
Artificial Intelligence: Airbnb Steps On The AI Pedal, Acquires Stealth Startup
Airbnb (NASDAQ: ABNB) has acquired GamePlanner.AI, a stealth startup, for just under $200 million, marking the home-sharing company’s first acquisition as a public entity. GamePlanner.AI, founded by Adam Cheyer, co-founder of Siri, and Siamak Hodjat, former head of Siri’s natural language processing team at Apple (NASDAQ: AAPL), operates in the AI, design, and community space.
Artificial Intelligence: Massive AI Workloads Get A Lift With Nvidia’s New H200 GPU
NVIDIA (NASDAQ: NVDA) has unveiled the HGX™ H200, a powerful addition to its AI computing platform, based on the advanced NVIDIA Hopper™ architecture. Equipped with the groundbreaking H200 Tensor Core GPU, featuring HBM3e, the platform excels in handling vast data volumes for generative AI and high-performance computing tasks.
FinTech: Japan’s SBI Holdings Amassing $663M VC Fund For Startups In High Growth Sectors
SBI Holdings (TYO: 8473), a major Japanese financial firm, is launching a $663 million fund aimed at supporting Web3, AI, and fintech startups. Scheduled to invest in 150-200 companies, the fund is set to begin operations by year-end. The investment scale is substantial, with key contributions secured from major financial institutions like Sumitomo Mitsui Banking Corporation (TYO: 8316), Mizuho Bank (TYO: 8411), Nippon Life Insurance, and Daiwa Securities Group (TYO: 8601).
Artificial Intelligence: Humane Unveils AI Pin, A Revolutionary Wearable Device
In a long-awaited move, Humane, a company spearheaded by ex-Apple talents like Imran Chaudhri and Bethany Bongiorno, has unveiled the AI Pin. This compact wearable gadget functions as a projector, equipped with an ultra-wide RGB camera for photography, text and email capabilities, and ChatGPT-like question-answering prowess. Backed by industry giants like OpenAI’s Sam Altman and Microsoft (NASDAQ: MSFT), the device harnesses AI models from both entities.