Few conferences are able to gather a more powerful group of finance and tech moguls than Saudi Arabiaâs sovereign wealth fund, which sponsors the annual Future Investment Initiative, also known as âDavos in the Desert.â This yearâs conference, held this week in Riyadh, has so far featured Elon Musk, SoftBankâs Masayoshi Son, Ben Horowitz, TikTok CEO Shou Zi Chew, Uber co-founder Travis Kalanick and a host of CEOs from major... Read more âș
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Sales of AMDâs data center server chips, which includes the Instinct MI300A chip that competes with AI chips from Nvidia, boomed during its September quarter as more customers adopt the technology. But AMD shares fell more than 7% after its earnings report, as investors were apparently ... Read more âș
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Alphabet said its revenue grew 15% year-over-year to $88.3 billion in the third quarter, driven by acceleration in Googleâs revenue from renting out cloud servers, which also includes the sale of artificial intelligence to businesses. The cloud result helped Alphabet overcome a dip of nearly 1 ... Read more âș
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PayPalâs revenue growth slowed to 6% in the third quarter, the payments firm reported on Tuesday, as growth in payment volume also slowed. Profit was unchanged at about $1 billion. PayPalâs payment volume growth has slowed steadily, from 15% a year ago, thanks to competition from rival payments ... Read more âș
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Earlier this year, executives at finance software startup Runway had an idea about how they could boost sales. Using artificial intelligence from OpenAI and other software, Runwayâs engineers built a tool that scanned a list of potential corporate customers and drafted custom emails based on information in each of the customersâ websites. To make the messages seem more realistic and human-looking, CEO Siqi Chen told his team to instruct the... Read more âș
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Elon Muskâs xAI, the developer of the Grok chatbot, is in talks to raise more money at a $40 billion valuation, according to a Wall Street Journal report. The company, founded last year, raised $6 billion in a round announced in May that valued the company at $24 billion, including the ... Read more âș
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Microsoft is turning up the heat on OpenAI. Microsoftâs developer platform GitHub announced on Tuesday that its wildly popular GitHub Copilot toolâwhich previously relied entirely on OpenAI modelsâwill now also incorporate AI models from Anthropic and Google. GitHub Copilot will be able to toggle between Anthropicâs Claude 3.5 Sonnet, Googleâs Gemini 1.5 Pro, and OpenAIâs GPT-4o, o1-preview, and o1-mini, the company said. The new development is striking given Microsoftâs long... Read more âș
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When Apple CEO Tim Cook visited China last week, he pledged to government officials that the company would continue to increase its investment in the country, where the vast majority of its products are made, according to the state-run Xinhua news agency. But Apple recently reached a new milestone in its manufacturing efforts in India, which could help it one day reduce its dependence on China. For the first time,... Read more âș
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The U.S. Treasury Department issued final rules that limit and screen U.S. investments in China in sensitive technology areas. The restrictions will take effect on Jan. 2. Under the new rules, certain U.S. investments in semiconductors, artificial intelligence and quantum computing in mainland ... Read more âș
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Get ready. Weâre about to endure three days of earnings reports from five of the six biggest companies in techânot including Nvidia, which doesnât report earnings until Nov. 20. What makes these updates more interesting than usual is that investors appear to have wildly varying views of these companies right now, at least judging by their recent stock performances.Shares of Microsoft and Alphabet both peaked in early July and since... Read more âș
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Instagram has been reducing the quality of videos on the app when they receive low numbers of views, for instance after a video has been available for a while, said Instagram Head Adam Mosseri in a question-and-answer session on his account. âIn general, we want to show the highest-quality video ... Read more âș
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AI search startup Perplexity has had a turbulent relationship with some news publishers, and now it has hired a tech industry veteran to help change that. Jessica Chan, a former manager at LinkedIn and Meta, joined Perplexity last month as the two-year-old startupâs first head of publisher ... Read more âș
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Elon Muskâs Memphis, Tenn., data center for xAI has drawn an enormous amount of attentionâfrom people who believe his claims that he built the worldâs largest AI cluster in just 19 days, an unbelievably short timeframe, and those who are skeptical he actually pulled it off. On Monday Musk got ... Read more âș
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Some 75% of OpenAIâs revenue comes from consumers paying for its AI-powered chatbot and other products, a company spokesperson said on Monday. That means that the vast majority of the $4 billion the company was recently on track to generate this year will come from consumers, rather than ... Read more âș
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Billionaire Michael Bloomberg, the owner of Bloomberg LP and former New York City mayor, has made a $50 million gift to support Vice President Kamala Harrisâ presidential campaign, according to The New York Times. Bloomberg hasnât been nearly as active in the 2024 election as he had been in the ... Read more âș
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Meta Platforms is working on a search engine that crawls and indexes the web so its artificial intelligence assistant can provide information about current events and news, The Information reported. The work aims to lessen Metaâs reliance on Google Search and Microsoftâs Bing, which currently ... Read more âș
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Microsoft on Monday accused Google of running âshadow campaignsâ to turn monopoly regulators and the public against the enterprise and cloud incumbent and distract them from Googleâs own antitrust woes. While Google has publicly alleged Microsoft is stifling competition in the cloud computing ... Read more âș
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Struggling Swedish battery manufacturer Northvolt failed to pay employees of its shuttered Cuberg subsidiary a scheduled final paycheck this month, or for their remaining paid time off, as required by California law, according to four former Cuberg employees. The missed payments came as Northvolt, once the darling of Europeâs clean tech industry, attempts to raise a $300 million rescue package amid slow sales and a canceled multi-billion order from one... Read more âș
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It hasnât been this hard for first-time fund managers to raise capital in about a decade. But one group of newbie venture capitalists is having more luck: founders and other alumni of artificial intelligence startups. One example is Jeff Arnold, co-founder and chief operating officer of artificial intelligence accounting company Pilot and former head of operations at OpenAI for a brief period in its early days. He and Paul Jun,... Read more âș
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As Meta Platforms tries to keep up with OpenAI in developing artificial intelligence, the Facebook owner is working on a search engine that crawls the web to provide conversational answers about current events to people using its Meta AI chatbot. In doing so, Meta hopes to lower its reliance on Google Search and Microsoftâs Bing, which currently provide information about news, sports and stocks to people using Meta AI, according... Read more âș
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Most popular sources
Business Insider
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24% 29 |
Financial Times
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16% 16 |
The Verge
|
15% 10 |
Gizmodo
|
9% 1 |
Tom's Hardware
|
9% 5 |
| View sources » | |
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24.11.2024 05:54
Last update: 05:45 EDT.
News rating updated: 12:40.
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