Wealth Management Firms in US to Double AI Budgets
Projections indicate that AI will account for 37% of US wealth management firms’ IT spending in the next 3-5 years, up from 16%.
Science & Technology - page 11
LightOn to Become Europe’s First Listed GenAI Startup
The French startup LightOn, which operates in the area of generative artificial intelligence, has launched an initial public offering (IPO) of shares on the Euronext Growth market in Paris.
Chipmaker Kioxia Files for IPO
Bain Capital-backed Kioxia filed for an initial public offering (IPO) of shares last Friday, November 8th.
Tesla Hits $1 Trillion Market Value
Tesla’s market capitalization indicator on Friday, November 8, breached the $1 trillion mark amid a sharp increase in the value of the company’s shares, which is due to the fact that its chief executive officer Elon Musk supported Donald Trump, who became the winner of the United States presidential election.
Arm Reports Earnings Forecast
Chip developer Arm Holdings last Wednesday, November 6, released a forecast for its revenue in line with Wall Street targets, against which the value of the brand’s shares fell by 4.5%.
Qualcomm Reports Earnings
Qualcomm last Wednesday, November 6, released data on its earnings for the last quarter.
Amazon to Invest $1.3 Billion in Italy
Amazon’s computing unit AWS on Thursday, November 7, announced its intention to invest 1.2 billion euros ($1.3 billion) in Italy over the next five years as part of efforts to expand its data center business in the country.
Prime Video’s X-Ray Recaps Use GenAI to Sum Up TV Shows
Amazon Prime Video’s new X-Ray Recaps feature uses GenAI to help viewers catch up on key plot points of their favourite shows without rewinding or risking spoilers.
US Lawmaker Urges Investigation Into China’s Chipmaker SMIC
Michael McCaul, chair of the House Foreign Affairs Committee, urged US Commerce Department agents to visit the production sites of China’s Semiconductor Manufacturing International Corporation (SMIC) and check whether this company is involved in making chips for Huawei Technologies.
Super Micro Shares Demonstrate Decline
Super Micro, a server manufacturer that publishes annual financial statements later than scheduled and currently faces the risk of being excluded from the Nasdaq list, last Tuesday, November 5, shared with the public data on the results of its activities for the last fiscal quarter.
Chinese Unicorn Zhipu AI Raises $210 Million
Zhipu AI, one of the leading Chinese startups in the area of generative artificial intelligence, has announced the initial closure of its venture capital vehicle.
Perplexity AI Reportedly Nears $500 Million Funding Round
Media reports that Perplexity AI, a startup that developed an artificial intelligence-based search engine, is currently in the final stages of the process of raising $500 million in funding with a valuation of $9 billion.
Amazon Bedrock Launches New AI Models
Anthropic’s Claude 3.5 Haiku and the upgraded Claude 3.5 Sonnet, Amazon Bedrock’s latest, smartest and fastest AI models, are now generally available.
South Korea Fines Meta
South Korea has ordered Meta Platforms to pay a fine of 21.62 billion won ($15.67 million).
Startup Physical Intelligence Reportedly Raises $400 Million
The media reports that the startup Physical Intelligence, which operates in the area of robotics, was able to raise $400 million in early-stage funding.
Chinese AI Companies Spend Huge Sums on Ads
In China, local companies that operate in the artificial intelligence area are currently racking up huge advertising bills.
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