Amazon.com Inc., risking Wall Street’s displeasure, told investors that profits for now will take a back seat to heavy spending on artificial intelligence. The shares fell. The company projected operating income for the current quarter ending in September will be $11.5 billion to $15 billion. Analysts, on average, were looking for $15.7 billion. After … Read more
Central bankers aren’t born as chronic worriers, but they quickly acquire the trait. They are now spending considerable time fretting about artificial intelligence: Its ability to play havoc with prices, jobs, and the security of banking. As gut-wrenching as the meltdown of 2008 was, imagine if a rogue machine turbocharged a market rout. It’s not quite … Read more
Tech giant Nvidia is now worth over $3.2 trillion, with its dominance as a chipmaker making it the poster child of the artificial intelligence boom. After the stock’s swift rise on Wall Street it briefly topped Microsoft as the most valuable company in the S&P 500 this week. The company is now worth over $3.2 … Read more
Microsoft and OpenAI are reportedly planning a massive data-centre project that could cost up to $100 billion, including the development of an artificial intelligence supercomputer called “Stargate,” according to a report by The Information. The project is said to be financed by Microsoft. The proposed efforts, as per the source who has seen the initial … Read more
Jio Platforms, a subsidiary of Reliance Industries that helps operators to evolve to new 5G capabilities, has created an AI platform, Jio Brain, that integrates machine learning (ML) capabilities in a telecom operator’s network, enterprise network, or any industry-specific IT environment without the need for an exhaustive network/IT transformation. According to a LinkedIn post by … Read more
Nividia reports earnings next week, and the chipmaker’s results alone could swing the stock market. That’s according to Deepwater’s Gene Munster, who cited Wall Street’s frenzy over artificial intelligence. “All eyes are on their data center number,” he told CNBC. Nvidia’s earnings report next week could swing the overall stock market higher as Wall Street … Read more
AI can pick private equity firms to back better than many investors, per an Oxford study. Researchers trained AI to read 400 prospectuses to predict the top-performing funds. However, lead researcher Ludovic Phalippou believes it should still only be used as a sounding board. Artificial intelligence can pick out top-performing private equity (PE) funds better than … Read more
E-commerce giant Amazon has started testing the use of AI to summarize product reviews. Amazon seems to be doing a limited rollout of the feature that is appearing only in some listings. Such product review summaries could be useful in guiding customers toward newer reviews, per an Amazon marketing agency CTO. AI has truly … Read more
LinkedIn co-founder Reid Hoffman said he will continue to be positive about the benefits he sees in AI. Hoffman is part of venture capital firm, Greylock Partners, which has invested in dozens of AI companies. He told the New York Times in a recent interview that concerns from other tech executives like Elon Musk are … Read more