‘They don’t have the money’: Elon Musk reacts to ChatGPT maker’s $500 billion infrastructure project announcement

ChatGPT maker OpenAI, led by Sam Altman, has announced “Stargate,” a $500 billion project aimed at building new AI infrastructure in the US over the next four years. This initiative, backed by SoftBank, Oracle, and MGX, plans to immediately deploy $100 billion. OpenAI claims Stargate will solidify American AI leadership, generate jobs and economic benefits, … Read more

China’s bold step in AI regulation: New committee aims to lead global standards

Beijing has announced the formation of a new artificial intelligence standardisation technical committee, Reuters reports. The committee will establish industry guidelines for emerging technologies such as large language models and AI risk assessment. As per the wire, the 41-member committee, which includes representatives from prominent tech firms like Baidu and prestigious academic institutions such as … Read more

L&T acquires 21% stake of E2E

Larsen & Toubro (L&T) is acquiring 21% stake of E2E Networks. E2E is a listed Company It was founded in 2009 and got listed in 2018 The Company mainly offers public cloud to it’s customers 21% stake acquisition by L&T is a combination of primary and secondary 15% primary through preferential allotment @ 3,622/ share … Read more

AI-led dating platform Schmooze raises $4 million series A round

Schmooze, an AI-powered meme-based dating platform, has closed its series A round of $4 million, led by Elevation Capital. The round also saw participation from angel investors, including the founders of UltraHuman, The Souled Store, Mosaic Wellness, and Paytm. Powered by over 1 billion meme interactions, the platform will use the funding to further enhance … Read more

Amazon’s shares slide after AI spending plans disappoints investors

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

Machines Aren’t Coming for the Lords of Finance, Yet

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