Microsoft declares OpenAI both ‘strategic partner’ and ‘competition’ in SEC filing

August 3, 2024 Coin Telegraph

The two companies face antitrust probes in the US and EU over their partnership.

Microsoft wants the feds to view its relationship with OpenAI as more of a frenemies (friends and enemies) situation than a real partnership, judging by a report filed with the SEC in July.

In the filing, a form 10-K periodic financial performance and conditions report, Microsoft declared OpenAI as its rival in several passages while also stating numerous times throughout the document that OpenAI was its “strategic partner.”

Interestingly, Microsoft cites dozens of rivals and “intense competition across all markets” in its statements on competition. These include companies ranging from Apple to Nintendo as well as several software and coding organizations.

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Nvidia delays next gen AI chip as investors issue ‘bubble’ warning

August 3, 2024 Coin Telegraph

Amazon

After briefly breaking the $3 trillion market capitalization mark in June, things have taken a negative turn for the world’s most valuable chipmaker.

Nvidia’s highly anticipated “Blackwell” B-200 artificial intelligence chip will reportedly be delayed, sending the near-term future of the entire AI industry into a state of uncertainty.

Tech news outlet The Information claims that a Microsoft employee and at least two other people familiar with the situation have stated that the new chip’s launch date has been pushed back by at least three months due to a design flaw.

While Nvidia hadn’t given a public launch date, CEO Jensen Huang recently announced that the company would begin sending engineering samples “this week” on July 31 at the SIGGRAPH event in Denver, Colorado.

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Nvidia stock jumps 11% after SIGGRAPH unveil: ‘next wave of AI is robotics’

July 31, 2024 Coin Telegraph

artificial intelligence

We’re entering the “third wave” of AI and the era of mechanical humanoids, according to Nvidia.

Nvidia looks like a world-beater again as a slew of announcements related to the “next wave” of artificial intelligence has its market capitalization up about 11%.

Speaking at the annual Special Interest Group on Computer Graphics and Interactive Techniques (SIGGRAPH) event in Denver, Colorado, Nvidia CEO Jensen Huang announced several new services designed to bridge the gap between the digital and physical worlds.

Per Huang:

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AI and Metaverse Combo Could Create More Interactive, Personal Virtual Worlds, Says Tech Veteran

July 21, 2024 Bitcoin.com

Artificial intelligence (AI)

According to Paul Thomas, a seasoned technologist and founder at Somnia, artificial intelligence (AI), like the metaverse before it, is currently experiencing hype. This hype cycle will continue to be in vogue before eventually waning. Thomas argues that combining the metaverse with AI can potentially “make virtual environments interactive and personal.” AI Hype Cycle Expected […]

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TSMC becomes first Asian company to reach $1T as AI demand surges

July 20, 2024 Coin Telegraph

TSMC becomes first Asian company to reach T as AI demand surges

Apple

The company is now worth more than Broadcom and closing in on Meta.

Taiwan Semiconductor Manufacturing Company Limited, more commonly known as TSMC, became the first Asian firm to reach a market capitalization of more than a trillion dollars as it briefly surpassed Berkshire Hathaway on June 20 to become the eight most valuable company in the world.

The company’s quiet rise comes on the wings of its massive portfolio of tech and manufacturing giants who source its semiconductors.

TSMC is the world’s largest semiconductor manufacturer. Its top customers include Apple, AMD, Intel, Nvidia, Intel, and Qualcomm. However, Apple is by far its largest client, thanks to the use of TSMC semiconductors in iPhones, accounting for around a fifth of its total revenue.

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Nvidia claims breakthrough on path to GPU-based quantum computing

July 19, 2024 Coin Telegraph

Coin Telegraph

Quantum annealing systems could impact the finance and blockchain industries in a major way.

Nvidia researchers are claiming noteworthy progress in the quest to build a fully functional, commercially viable quantum computer based on supercomputer simulations conducted with graphical processing units (GPUs).

While progress toward the development of a useful quantum computer has been steady for decades, physicists are still split on exactly what path to take towards their ultimate creation.

Quantum computers function differently from their classical counterparts. The computers we use every day, such as the one you’re reading this article on, rely on binary switches to conduct computations. But their quantum cousins exploit the nature of physics, through the use of qubits, to conduct much more complex computations than ones and zeros alone are capable of.

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Skild AI announces $300M funding from Jeff Bezos, Softbank to build ‘robot brains’

July 14, 2024 Coin Telegraph

Skild AI announces 0M funding from Jeff Bezos, Softbank to build ‘robot brains’

Amazon

Another unicorn has entered the race the develop human-level AI.

Artificial intelligence firm Skild AI recently emerged from stealth to report the successful closing of a $300 million series A funding round featuring participation by Jeff Bezos and Softbank among others.

Skild AI is a Carnegie Mellon spinout focused on building an AI system capable of being retrofitted to various machines and robotics devices called a “general-purpose brain.”

According to a company blog post, the funding was raised at a valuation of $1.5 billion and was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions). It also featured participation from Felicis Ventures, Sequoia, Menlo Ventures, General Catalyst, CRV, Amazon, SV Angel, and Carnegie Mellon University.

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Microsoft, Google, Nvidia and more filed SEC warnings that AI could ruin business

July 4, 2024 Coin Telegraph

Coin Telegraph

The reasons ranged from cannibalizing their own businesses to releasing potentially inferior products.

Over a dozen of the biggest names in the United States technology industry have filed “risk factor” reports with the Securities and Exchange Commission (SEC) indicating that artificial intelligence (AI) could threaten company finances.

While not uncommon, these risk reports outline internal thinking when it comes to the potential pitfalls of dedicating resources and funds to the development of nascent technologies such as AI.

Those filing warnings, according to a report from Bloomberg, include Adobe, Dell, Google, Meta, Microsoft, Nvidia, Oracle, Palo Alto Networks, Uber and at least a few others.

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Softbank lost 99% when the dotcom bubble burst, now it’s all-in on AI

July 3, 2024 Coin Telegraph

chatGPT

Softbank Group stocks reached an all-time-high on a market capitalization of $97.2 billion.

Softbank Group Corporation’s stock rose 1.5% to reach an all-time-high on Tuesday, July 2. The high mark comes just a few years after the company saw its shares plummet amid the closure of numerous high-profile tech startups, including WeWork, and a tech sector crackdown by the Chinese government.

Analysts have largely attributed the Japanese company’s recent uptick to its pivot toward artificial intelligence and the performance of its computing subsidiary Arm Holdings.

As Cointelegraph recently reported, company founder and chairman Masayoshi Son recently announced that Softbank would pursue greater involvement in artificial intelligence (AI) technologies.

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Over 50% of US hedge funds have exposure to Bitcoin as BTC crushes stocks in 2024

July 2, 2024 Coin Telegraph

Apple

Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin.

Over half of the top American hedge funds have disclosed exposure to newly launched spot Bitcoin (BTC) exchange-traded funds (ETFs) in a year, as BTC/USD has significantly outperformed major stocks and indexes.

Data from investment firm River reveals that 13 out of the top 25 United States hedge funds had owned Bitcoin ETFs by the end of Q1 2024. Notable among these is Millennium Management, which had 27,263 BTC worth $1.69 billion, making up about 2.5% of its total assets under management worth $67.7 billion.

Other significant players include Schonfeld Strategic Advisors, with 6,734 BTC, and Point72 Asset Management, with 1,089 BTC. In contrast, some top hedge funds, such as Bridgewater Associates, AQR Capital Management and Balyasny Asset Management, have yet to invest in Bitcoin ETFs.

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