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☆ Here's one thing AI can do for 3 of our mega-cap tech stocks
  + stars: | 2023-06-07 | by ( Kevin Stankiewicz Paulina Likos Zev Fima | Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com   time to read: +8 min
Now, with AI booming in popularity, revenue growth rates in the sector are poised to bottom — ultimately allowing for an inevitable bounce. The scope of these cloud developments goes beyond Amazon, Alphabet and Microsoft, touching on other names inside and outside the portfolio. It comes as macroeconomic headwinds have led many enterprises to rein in spending, translating into slower revenue growth for all three cloud-computing units. Alphabet's Google Cloud sales grew 28% year-over-year to $7.45 billion in the three months ended March 31 , compared with 44% in the first quarter of 2022. Sundar Pichai, chief executive officer at Google LLC, speaks during the Google Cloud Next '19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019.
Persons: There's, Salesforce, OpenAI, Embeddings, Amazon Piper Sandler, Piper Sandler, AMZN, Jim Cramer's, Jim Cramer, Jim, Sundar Pichai, Michael Short Organizations: Big Tech, Microsoft, Club, Nvidia, Web Services, Google, Clinic, Mayo Clinic, U.S, OpenAI, Government, Department of Defense, Department of Energy, Defense Department, Defense Technical, Bloomberg, CNBC, Google LLC, Getty Locations: San Francisco , California, U.S
☆ Amazon to pay over $30 million in FTC settlements over Ring, Alexa privacy violations
  + stars: | 2023-05-31 | by ( Lauren Feiner Annie Palmer | Lauren Feiner | Annie Palmer | ) www.cnbc.com   time to read: +3 min
Amazon will pay the Federal Trade Commission more than $30 million to settle allegations of privacy lapses in its Alexa and Ring divisions, according to filings on Wednesday. A separate suit alleges Amazon violated the FTC Act and Children's Online Privacy Protection Act by illegally retaining thousands of children's information through their profiles with the Alexa voice assistant. Under the proposed settlement, Amazon will have to delete inactive child accounts as well as some voice recordings and geolocation information. Amazon has faced scrutiny over the data that's collected by its kids-oriented Echo smart speakers, which use Alexa to respond to commands. Amazon will also have to implement a privacy program to govern its use of geolocation information.
Organizations: Amazon, Federal Trade Commission, FTC, Justice, COPPA
☆ Vector database Chroma scored $18 million in seed funding at a $75 million valuation. Here's why its technology is key to helping generative AI startups.
  + stars: | 2023-04-06 | by ( Stephanie Palazzolo | ) www.businessinsider.com   time to read: +4 min
Chroma helps manage vector embeddings, or numerical representations of data AI models can process. The startup raised $18 million in seed funding at a $75 million valuation led by Quiet Capital. The company recently closed a $18 million seed round led by Quiet Capital at a $75 million valuation. Originally, Chroma's tech aimed to serve machine learning engineers who were training and deploying AI models. Because this limits the model's context window, this approach tends to prevent hallucinations, or confident but incorrect responses from AI, Troynikov told Insider.
☆ AI startup Pinecone was just valued at $700 million. Here's why VCs like Andreessen Horowitz are obsessed with it and other vector databases.
  + stars: | 2023-03-28 | by ( Stephanie Palazzolo | ) www.businessinsider.com   time to read: +4 min
Vector database startups like Pinecone have received term sheets from top-tier VCs, Insider has learned. Similar to the investor excitement around generative AI, VCs are now flocking to another area within the buzzy AI ecosystem. Instead, a vector database can store and quickly find past responses to similar questions by understanding the meaning behind the statements without having to call the base model. Because the vector database space is so intertwined with LLMs, it's benefitted greatly from recent hype around generative AI and LLMs. "The LLM tax is real," one VC said, referring to the high valuations for buzzy vector database startups like Chroma, Weaviate, and Pinecone.
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