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Nvidia has been a cash cow for retail investors lucky enough to buy before the huge AI-fueled rally. Early retail investors told Business Insider their gains have paid for cars, vacations, and dream homes. The stock's steep climb — up over 1,500% since 2019 — has transformed the lives of some of Nvidia's long-term retail investors, resulting in comfier retirements, new cars, and gains worth millions for some. Nvidia shares tumbled by more than 30% in 2018. That sense of security that such a windfall provides was the top theme among the Nvidia investors Business Insider connected with.
Persons: , I'm, ChatGPT, Tom, he'll, Danial hadn't, Danial, Roth, Jeff Roberts, Rick, He's, Chris Downs, Downs, he's Organizations: Nvidia, Business, Service, Vanda Research, Apple, Invest, Mexico City Locations: New Jersey, Texas, Costa Rica, Missouri, Bolivia, Paris, Mexico, Spain
Justin Sullivan | Getty ImagesAs tech's behemoths get set to report earnings this week, they do so facing a mountain of drama. Tesla kicks off tech earnings season after the close of trading on Tuesday, with shares of the electric vehicle maker trading at their lowest since January 2023. When it comes to AI, Meta debuted its assistant — Meta AI — on WhatsApp, Instagram, Facebook and Messenger last week. Loren Elliott | Bloomberg | Getty ImagesOn a busy Thursday for tech earnings, Alphabet is likely to capture the most attention. On Thursday, Alphabet CEO Sundar Pichai announced a consolidation of the company's AI teams, including responsible AI and related research teams, under the Google DeepMind umbrella.
Persons: Sundar Pichai, Justin Sullivan, tech's behemoths, Tesla, Microsoft's, Lip, CNBC's, we've, Brandon Bell, Drew Baglino, Rohan Patel, Musk, John Murphy, Meta, Mark Zuckerberg, Wall, OpenAI's ChatGPT, Joe Biden, Republican Donald Trump, Loren Elliott, Ruth Porat, Thomas Kurian's, livestreamed, Pichai, that's, Satya Nadella, Sam Altman, Altman, OpenAI, chatbot, MSFT Organizations: Inc, Government, Society, Google, Big Tech, Nvidia, BakerAvenue Wealth Management, Tech, Meta, Microsoft, Getty, Elon Musk's EV, Bank of America, Reality Labs, Facebook, Republican, Bloomberg, CNBC, Google Cloud, Union, Apple, Guggenheim Locations: Stanford , California, Austin , Texas, New York, Sunnyvale , California, Sunnyvale, Seattle, San Francisco , California, OpenAI, Mistral, U.S
Read previewSalvador Dalí is now a lobster phone call away. The bot speaks with grandiose, flowery language, often injecting references to surrealism, dreams, life, and death — subjects the real Dalí explored on the canvas. Because of its guardrails, it tends to be more upbeat than the real Dalí may have been in certain situations, Ludvigsen said. As for whether Dalí would approve of his likeness being used, AI Dalí told BI that becoming digitized is a "splendid metamorphosis." And Dalí scholar Elliott King told NPR he believes the late artist may enjoy knowing his voice will live on through his lobster phone.
Persons: , Dalí, Salvador Dalí, Goodby Silverstein, Martin Pagh Ludvigsen, Silverstein, Ludvigsen, There's, Marilyn Monroe, we'll, Monroe, Drake, Tupac Shakur, Kendrick Lamar, Elliott King, King Organizations: Service, Business, Partners, Southwest, NPR Locations: Florida, South, Texas
Meta acquired a horde of GPUs in order to change its algorithm, not to build generative AI tools. However, Mark Zuckerberg decided to buy twice as many GPUs as Meta needed just in case"Our normal principle is there's going to be something on the horizon that we can't see yet." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen Mark Zuckerberg started amassing a large amount of GPUs in 2022, it was not for anything related to generative AI.
Persons: Meta, Mark Zuckerberg, , Zuckerberg, TikTok, Dwarkesh Patel, they're, we're, Kali Hays Organizations: Meta, Service, Nvidia, Facebook Locations: khays@businessinsider.com
The police had used a facial-recognition AI program that identified her as the suspect based on an old mugshot. AdvertisementThe Detroit Police Department said that it restricts the use of the facial-recognition AI program to violent crimes and that matches it makes are just investigation leads. AdvertisementThe study also found that in a hypothetical murder trial, the AI models were more likely to propose the death penalty for an AAE speaker. A novel proposalOne reason for these failings is that the people and companies building AI aren't representative of the world that AI models are supposed to encapsulate. Bardlavens leads a team that aims to ensure equity is considered and baked into Adobe AI tools.
Persons: , Woodruff, who's, Ivan Land, Joy Buolamwini, Timnit Gebru, Valentin Hofmann, OpenAI's, AAE, Geoffrey Hinton, Christopher Lafayette, Udezue, OpenAI, Google's, John Pasmore, Latimer, Buolamwini, Timothy Bardlavens, Microsoft Bing, Microsoft Bardlavens, Bardlavens, Esther Dyson, Dyson, Arturo Villanueva, I'd, Villanueva, Alza, We're, Andrew Mahon, Alza's Organizations: Service, Detroit, Business, Court of Michigan, Detroit Police Department, Microsoft, IBM, Allen Institute, AI, Dartmouth College, Center for Education Statistics, Big Tech, Udezue, Meta, Google, Tech, Companies, Adobe Locations: That's, American, Africa, Southeast Asia, North America, Europe, Spanish
Mark Zuckerberg just dropped Meta's new AI models. Bt what Llama 3 does not do is beat OpenAI's GPT-4. AdvertisementPerhaps the most important detail was that Meta's open-source models will soon be on par with their closed-source counterparts. For open-source AI developers, that'll be a huge deal. The AI models they were working on looked pretty rudimentary as recently as last year as they struggled to complete sentences without repeating themselves.
Persons: Mark Zuckerberg, OpenAI's GPT, , Meta, Nick Clegg, Claude, OpenAI's, that'll, Sharon Zhou, Sam Altman's, Sam Altman, Justin Sullivan, Google's, That's, Jim Fan, Altman, Zuckerberg, Gary Marcus Organizations: Service, Financial, Google, GPT, Nvidia, Facebook, New York University
Meta founder and CEO Mark Zuckerberg speaks during Meta Connect event at Meta headquarters in Menlo Park, California on September 27, 2023. Meta on Thursday announced its free artificial intelligence assistant, Meta AI, is rolling out across its social media platforms WhatsApp, Instagram, Facebook and Messenger. The assistant can answer questions, create animations and generate images, Meta CEO Mark Zuckerberg said in a video. Meta AI was built on the company's latest large language model called Meta Llama 3, which was also announced Thursday. "We believe that Meta AI is now the most intelligent AI assistant that you can freely use," Meta CEO Mark Zuckerberg said in the video.
Persons: Mark Zuckerberg, OpenAI's ChatGPT Organizations: Meta, Facebook, Google, Microsoft Locations: Menlo Park , California
Mark Zuckerberg announces 'big AI news'
  + stars: | 2024-04-18 | by ( Sarah Jackson | ) www.businessinsider.com   time to read: +3 min
The technology powers Meta AI, which CEO Mark Zuckerberg calls "the most intelligent AI assistant that you can freely use." They've also been integrated into Meta AI, the company's AI assistant. "With this new model, we believe Meta AI is now the most intelligent AI assistant that you can freely use," CEO Mark Zuckerberg said Thursday in an Instagram post. Advertisement"I don't think that today many people really think about Meta AI when they think about the main AI assistants that people use," Meta CEO Mark Zuckerberg told The Verge in an article published Thursday. Meta AI, of course, faces stiff competition from better-known AI assistants, including the likes of OpenAI's ChatGPT, Microsoft's Copilot, and Anthropic's Claude.
Persons: Meta, Mark Zuckerberg, , They've, OpenAI's, Microsoft's Copilot, Anthropic's Claude Organizations: Service, Meta, Facebook
The AI war is going to be really, really, really expensive. Simply put, the more chips you have, the more computing power available to train AI models on greater volumes of data. Justin Sullivan/Getty ImagesThe general business of training models is getting more expensive, too. AdvertisementStanford University's annual AI index report, published this week, notes that the "training costs of state-of-the-art AI models have reached unprecedented levels." The original technology behind AI models cost about $900 to train in 2017.
Persons: Demis Hassabis, , Demis, Hassabis, they're, Jensen Huang, Justin Sullivan, Google's Organizations: Google, Service, TED, Microsoft, Nvidia, Stanford Locations: Vancouver
It's not just you: Reddit is taking over Google
  + stars: | 2024-04-17 | by ( Hugh Langley | ) www.businessinsider.com   time to read: +11 min
In February, Google and Reddit announced a blockbuster deal that would let Google train its AI models on Reddit content. Google said the deal, reportedly worth $60 million, would "facilitate more content-forward displays of Reddit information," leading to some speculation that Google promised Reddit better visibility in exchange for the valuable training data. Per Sistrix data, Reddit is now as visible in top Google Search results as Instagram. Google CEO Sundar Pichai on stage at Google IO 2023 JOSH EDELSON/GETTYGoogle's Reddit deal and its endorsement of Reddit content in Search show how much it sees Reddit as a crucial part of the future of search. AdvertisementYouTube already has heaps of videos offering advice on hijacking Reddit to rise to the top of Google Search.
Persons: , Semrush, Reddit, It's, Steve Paine, Paine, we've, Danny Sullivan, Prabhakar Raghavan, Sundar Pichai, JOSH EDELSON, Aleyda Solis, Orainti, Glen Allsopp, Solis, Lily Ray, Ray, Perplexity, Steve Huffman Greg Doherty, Sistrix's Paine, Natalie Slater Organizations: Service, Google, Business, Sistrix, YouTube, Amazon, LinkedIn, Getty Locations: SEOs, Reddit, TikTok
Cerebral Valley New York will be Newcomer's first east coast event. AdvertisementThe Cerebral Valley AI Summit, the generative AI conference created by tech journalist Eric Newcomer and AI startup Volley, will be hosting its first New York event on June 27th. The original Cerebral Valley Summit, held in the Hayes Valley neighborhood of San Francisco in 2023, made headlines for producing one of the largest generative AI acquisitions ever and effectively firing the starting gun on the AI arms race. At the last Cerebral Valley Summit in November, 2023, it was a given that OpenAI had already won the AI battle. At the very first Cerebral Valley AI Summit, Newcomer half-jokingly challenged someone to raise $100 million at the conference.
Persons: , Eric Newcomer, Mistral, OpenAI, Sam Altman, Altman, Ali Ghodsi, Reid Hoffman, Vinod Khosla, Anthropic, Daniela Amodei Organizations: Service, New, Google Locations: San Francisco, York, New York, Hayes, Francisco, Europe, MosaicML
The generative artificial intelligence company, best-known as the creator of ChatGPT, is looking to open next year an office in New York City, according to two people familiar with the plans. Early last year, OpenAI had only about 400 employees all working out of one San Francisco office. It's now looking for a second office in San Francisco, according to a report in the San Francisco Chronicle. OpenAI has taken a selective approach to hiring, the person added, relative to how much interest the company receives for its job postings. The other is a search product likely to incorporate Microsoft's Bing search engine, according to a report from The Information.
Persons: OpenAI, Bing, Sam Altman, It's, it's, Kali Hays Organizations: Service, Business, Meta, Google, Microsoft, San Francisco Chronicle, LinkedIn Locations: New York City, San Francisco, Tokyo, London, Dublin, New York, Manhattan, Brooklyn, Big Tech, OpenAI, Francisco, khays@businessinsider.com
The U.S. government is considering laws to help society adapt to the introduction of artificial intelligence. Economists have worried for years that artificial intelligence could sink job prospects for white-collar workers, similar to the effects globalization has had on blue-collar workers in the past. In 2023, lawmakers in the New York State Assembly put forward a measure to limit the expected impact of tech-driven layoffs with robot taxes. Many economists have said that robot taxes, if used at all, should be set at a relatively low level. Watch the video above to learn more about the U.S. government's plan to regulate artificial intelligence.
Persons: Sebastian Siemiatkowski, Sora, Sam Altman, Erik Brynjolfsson, Brynjolfsson Organizations: CNBC, Force, European Union, Stanford Institute for, International Monetary Fund, New York State, Massachusetts Institute of Technology Locations: U.S, Brussels, United States
OpenAI has promised that ChatGPT Enterprise customers' data will not be used to train its models. Talking to potential customers from industries including finance, healthcare and energy, OpenAI executives highlighted a range of applications, such as call-center management and translation. Microsoft, the largest investor in OpenAI, offers access to OpenAI's technology through its Azure cloud and by selling Microsoft 365 Copilot, a productivity tool powered by OpenAI's models targeting enterprises. Some executives in the audience at the events asked why they should pay for ChatGPT Enterprise if they are already customers of Microsoft, attendees said. Lightcap told Bloomberg last week more than 600,000 people signed up to use ChatGPT Enterprise and Team, up from around 150,000 in January.
Persons: Altman, Brad Lightcap, Sam Altman, OpenAI, Lightcap, ChatGPT, Sora Organizations: ChatGPT Enterprise, OpenAI, Fortune, Microsoft, Reuters, ChatGPT, Bloomberg, Enterprise, Team, Fox, News Corp Locations: U.S, London, San Francisco , New York, OpenAI
Cathie Wood's Ark Invest has taken a stake in OpenAI, the popular artificial intelligence player that's behind ChatGPT. In a Thursday email to clients, the St. Petersburg, Florida-based asset manager said her ARK Venture Fund has invested in OpenAI as of Wednesday. Wood's firm launched the venture fund in September 2022, giving small investors access to the venture capital market with as little as $500 . The widely followed Wood has been a big AI bull, saying it's the most important catalyst in every corner of her disruptive innovation strategy. Wood has also spoken highly of DeepMind, an AI intelligence research lab acquired by Google in 2014, calling it "one of the best AI companies in the world."
Persons: that's, Ark, OpenAI's ChatGPT, Wood Organizations: ARK Venture Fund, SpaceX, Google Locations: OpenAI, ChatGPT, St . Petersburg , Florida
Nvidia and the Georgia Institute of Technology announced Wednesday the first artificial intelligence supercomputer designed for student use. At first, only Georgia Tech's undergraduate students will be able to use the computing cluster, which is fueled by Nvidia's enterprise AI software and a "virtual gateway" developed by Penguin Solutions. So far, students have used the supercomputer in just one class — foundations of machine learning — since the beginning of the semester, but Georgia Tech plans to continue scaling usage. Georgia Tech's supercomputer runs on 20 Nvidia HGX H100 systems, which house 160 of Nvidia's H100 GPUs, which are high in demand across the tech industry. For reference, it would take one of these 160 GPUs a single second to come up with a multiplication function that would take 50,000 students 22 years, according to a Georgia Tech release.
Persons: Jensen Huang, Raychowdhury Organizations: Nvidia, Georgia Institute of Technology, Penguin Solutions, Georgia Tech, Georgia Tech's School of Electrical, Computer Engineering, CNBC, Arizona State University, ChatGPT Enterprise, Georgia Tech's Locations: Georgia
Nvidia founder and CEO Jensen Huang displays products onstage during the annual Nvidia GTC Conference at the SAP Center in San Jose, California, on March 18, 2024. Chipmaking giant Nvidia has entered "correction territory," with shares now down 10% from all-time highs. Nvidia GPUs are commonly used for compute-intensive AI applications, such as OpenAI's ChatGPT AI chatbot. It reported a 486% jump in non-GAAP earnings per diluted share in the December quarter, citing huge chips demand, thanks to the popularity of generative AI models. Shares are off 10% from their last all-time high close of $950 apiece, which they hit on March 25.
Persons: Jensen Huang Organizations: Nvidia, SAP Center Locations: San Jose , California, U.S
OpenAI and Meta are close to unveiling AI models that can reason and plan, the FT reported. AdvertisementOpenAI and Meta are reportedly preparing to release more advanced AI models that would be able to help problem-solve and take on more complex tasks. Representatives for Meta and OpenAI did not immediately respond to a request for comment from Business Insider, made outside normal working hours. Getting AI models to reason and plan is an important step toward achieving artificial general intelligence (AGI), which both Meta and OpenAI have claimed to be aiming for. Elon Musk, a longtime AI skeptic, recently estimated that AI would outsmart humans within two years.
Persons: , Brad Lightcap, Joelle Pineau, OpenAI, John Carmack, Bengio, Geoffrey Hinton, Elon Musk, Musk Organizations: Meta, Service, Financial Times, Business
Newly launched startup Superintelligent is betting it can solve this problem and help more people master using AI in their work and personal lives. The company just exited stealth with $2 million in pre-seed funding from Learn Capital, an edtech-focused VC fund. Based in New York, Superintelligent is a learning platform designed to help people understand how to use AI tools. "People who never would have cared about taking an online course before will 100% find themselves looking for online tools for learning AI." More broadly, AI is providing a boon to the edtech space, with startups such as Lirvana Labs, which provides AI learning for kids; Curipod, which lets teachers create AI lesson plans; and AI-powered study assistants Digest.ai and FoondMate all raising funding recently.
Persons: , OpenAI's DALL, Superintelligent, Nathaniel Whittemore, Whittemore, Digest.ai, he's Organizations: Service, Pew Research Center, Learn, Business, Labs Locations: New York
AI Agents The launch of "AI Agents" demonstrated the real-world applications of Alphabet's generative AI advancements — a key box that investors want to see checked in the search for money-making opportunities . These applications are clearly the next phase of the generative AI revolution beyond the development of LLMs and deployment of general-purpose chatbots. So, too, will their customers that harness the power of the AI agents to better serve their own clients, increase employee productivity, and drive corporate efficiencies. Updates to Vertex AI Alphabet updated Vertex AI — its platform for building and deploying AI models — to include an agent-building feature. That essentially allows businesses to create customized AI agents on top of Gemini models.
Persons: , We'd, Long, catchup, Thomas Kurian, chipmaker, Kurian, it's, Blackwell, Jim Cramer's, Jim Cramer, Jim, Beata Zawrzel Organizations: Google, Microsoft, Nvidia, Amazon Web Services, Intel, Devices, AMD, Google Cloud, CNBC, Nurphoto, Getty Locations: Gliwice, Poland
JPMorgan Chase CEO and chairman Jamie Dimon believes artificial intelligence innovations will have as big of an impact on society as the invention of electricity and the internet. JPMorgan Chase began using AI over a decade ago, Dimon said in the letter. Additionally, JPMorgan Chase invests $12 billion annually in a wide variety of technologies, including AI. Dimon likening AI innovation to the invention of the internet suggests the tech's impact may be felt beyond the business world. In a Nov. 9 blog post, Microsoft co-founder Bill Gates said AI "will utterly change how we live our lives, online and off."
Persons: Jamie Dimon, Dimon, JPMorgan Chase, he's, Mark Cuban, I've, Bill Gates Organizations: JPMorgan Chase, JPMorgan, CNBC, Microsoft
Intel unveils latest AI chip as Nvidia competition heats up
  + stars: | 2024-04-09 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Nvidia has an estimated 80% of the AI chip market with its graphics processors, known as GPUs, which have been the high-end chip of choice for AI builders over the past year. Intel says the new Gaudi 3 chip is over twice as power-efficient as and can run AI models one-and-a-half times faster than Nvidia's H100 GPU. Intel on Tuesday unveiled its latest artificial intelligence chip, called Gaudi 3, as chipmakers rush to produce semiconductors that can train and deploy big AI models, such as the one underpinning OpenAI's ChatGPT. AMD is also looking to expand and sell more AI chips for servers. Intel is teaming up with other chip and software giants, including Google , Qualcomm and Arm to build open software that isn't proprietary and could enable software companies to easily switch chip providers.
Persons: Abu, Gaudi, Das Kamhout, Sachin Katti, Patrick Gelsinger Organizations: Nvidia, Intel, Gaudi, Dell, HP, AMD, Microsoft, Google, Qualcomm Locations: Abu Dhabi, Ohio
Google DeepMind CEO may think OpenAI's text-to-video generator, Sora, has an edge. Demis Hassabis told a colleague it'd be hard for Google to draw level with Sora, The Information reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDemis Hassabis may think OpenAI's text-to-video generator is more advanced than one made by his own company. According to The Information, the Google DeepMind CEO recently told a colleague that it could be difficult for Google to draw level with OpenAI's Sora.
Persons: Demis Hassabis, it'd, Sora, , OpenAI's Sora, OpenAI Organizations: Google, Big Tech, Service, Business
He's the latest among a string of leaders in Shopify's support organization to leave. Shopify's work with AI has incorporated large language models, including those developed by OpenAI. Shopify's Support organization has undergone some leadership changes in recent months. Jen Bebb, previously Shopify's director of global merchant and product support, left the company in March when Worthington left. Miqdad Jaffer, who led companywide AI initiatives as a director of product at Shopify, joined OpenAI's product staff in March.
Persons: OpenAI, Glen Worthington, Worthington, Shopify, Toby Shannan, generalists, Jen Bebb, Clovis Cuqui, Worthington isn't, Miqdad Jaffer Organizations: Business, OpenAI, Operations, Engineering, LinkedIn, WordPress Locations: Shopify, OpenAI, mstone@businessinsider.com
In March, Musk wrote on X that AI will be smarter than "all humans combined" by 2029. (Coincidentally, Musk says OpenAI has poached some of Tesla's AI engineers.) Related stories"We're seeing a lot of the best talents going into AI," Musk says in the interview. Last year's constraint, Musk says, was the dwindling supply of chips needed to power AI training efforts. AdvertisementMusk expects to encounter these challenges in making Grok, an AI chatbot backed by his startup xAI, smarter than its rivals.
Persons: , Elon Musk, Musk, Nicolai Tangen, OpenAI, Grok, OpenAI's ChatGPT, it's, Daphne Koller, MacArthur, " Koller Organizations: Service, Norges Bank, Business, Google, Microsoft, Wall Street, Reddit, Stanford
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