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☆ Lazard's McGuire: AI supercomputing will increase demand on the power grid
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLazard's McGuire: AI supercomputing will increase demand on the power gridRaymond McGuire, Lazard president, and Dina Powell McCormick, BDT & MSD Partners vice chairman, join CNBC's Delivering Alpha 2023 to discuss geopolitics in relation to energy and entrepreneurship, U.S.-China industrial relations and more.

Persons: Lazard's McGuire, Raymond McGuire, Lazard, Dina Powell McCormick Organizations: supercomputing, BDT, MSD Partners, CNBC's Locations: China

☆ Birthplace of the atomic bomb braces for its biggest mission since the top-secret Manhattan Project
▼ + stars: | 2023-09-24 | by ( ) www.cnbc.com time to read: +7 min

Los Alamos was the perfect spot for the U.S. government's top-secret Manhattan Project. The mission calls for modernizing the arsenal with droves of new workers producing plutonium cores — key components for nuclear weapons. James Owen, the associate lab director for weapons engineering, has spent more than 25 years working in the nuclear weapons program. Alexandra Martinez, 40, grew up in nearby Chimayo and is the latest in her family to work at Los Alamos. The film put the spotlight on Los Alamos and its history, prompting more people to visit over the summer.

Persons: James Owen, Owen, Alamosans, Greg Mello, Alexandra Martinez, chuckles, Martinez, J, Robert Oppenheimer, Christopher Nolan's, Oppenheimer, watchdogs, What's Organizations: U.S, Los Alamos National Laboratory, Associated Press, Los Alamos Study, Alamos, PF, Manhattan, —, Trinity Test, Independent Locations: Alamos, Manhattan, New Mexico, Albuquerque, Los Alamos, Peñasco, Taos County, Chimayo, selfies

LOS ALAMOS, N.M. (AP) — Los Alamos was the perfect spot for the U.S. government’s top-secret Manhattan Project. The community is facing growing pains again, 80 years later, as Los Alamos National Laboratory takes part in the nation's most ambitious nuclear weapons effort since World War II. The mission calls for modernizing the arsenal with droves of new workers producing plutonium cores — key components for nuclear weapons. Alexandra Martinez, 40, grew up in nearby Chimayo and is the latest in her family to work at Los Alamos. Some of the hand-written notes touch on the complicated legacy left by the creation of nuclear weapons.

Persons: James Owen, Owen, Alamosans, ” Greg Mello, Alexandra Martinez, chuckles, ”, Martinez, J, Robert Oppenheimer, Christopher Nolan’s “ Oppenheimer, watchdogs, “ What's Organizations: ALAMOS, U.S, Los Alamos National Laboratory, Associated Press, Los Alamos Study, Alamos, PF, Manhattan, —, Trinity Test, Independent Locations: N.M, Los Alamos, Manhattan, New Mexico, Albuquerque, Alamos, Peñasco, Taos County, Chimayo, selfies

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more
▼ + stars: | 2023-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "

Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America

☆ Tesla shares jump after Morgan Stanley predicts Dojo supercomputer could drive
▼ + stars: | 2023-09-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla’s Dojo supercomputer could fuel a $500 billion jump in the electric vehicle maker’s market value, analysts at Morgan Stanley said in a note Monday. Shares of Tesla jumped more than 6% during early trading Monday morning, on the heels of the rosy prediction from Morgan Stanley’s team about the automaker’s supercomputing efforts. The Morgan Stanley team, lead by longtime Tesla analyst Adam Jonas, predicted that the massive drive in value could come from Dojo potentially unlocking new revenue streams through the wider adoption of robotaxis and software services. The analysts compared the potential of Dojo at Tesla to the “same forces that have driven” Amazon Web Services to propel Amazon’s profitability to new heights. The world’s most valuable carmaker had a market cap of some $788.74 billion as of the market close on Friday.

Persons: New York CNN —, Morgan Stanley, Tesla, Morgan Stanley’s, Adam Jonas Organizations: New, New York CNN, supercomputing, Tesla, Services, Investors, Dojo Locations: New York

DES MOINES, Iowa (AP) — The cost of building an artificial intelligence product like ChatGPT can be hard to measure. To keep it cool on hot days, data centers need to pump in water — often to a cooling tower outside its warehouse-sized buildings. The estimate includes indirect water usage that the companies don’t measure — such as to cool power plants that supply the data centers with electricity. It was also thirsty in Iowa, drawing more potable water to its Council Bluffs data centers than anywhere else. Its fourth and fifth data centers are due to open there later this year.

Persons: “, OpenAI, ”, Shaolei Ren, ChatGPT, ” Ren, you’re, Ren, Steve Gaer, Gaer, Brad Smith, ” Smith, —, O'Brien Organizations: DES, Microsoft, Google, University of California, Las, Associated Press, workloads, supercomputing, West, West Des Moines Water Works Locations: DES MOINES, Iowa, Des Moines, Riverside, Oregon, Las Vegas, San Francisco, West Des Moines , Iowa, California, West Des Moines, Arizona, West Des, Providence , Rhode Island

☆ China may never become the world's biggest economy and has thrown out its old playbook, Mohamed El-Erian says
▼ + stars: | 2023-09-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

It's highly unlikely that China will implement large-scale stimulus, Mohamed El-Erian said. Without it, markets shouldn't expect China's previous rate of growth to come back, he wrote in the Financial Times. "Despite what many may continue to tell you, it is no longer a given that China will become the world's largest economy." After China lifted pandemic restrictions late last year, the economy saw a brief rebound early this year. Despite what many may continue to tell you, it is no longer a given that China will become the world's largest economy."

Persons: Mohamed El, Erian, That's, — Organizations: Financial Times, Service, supercomputing, Bloomberg Locations: China, Wall, Silicon, Beijing, El

☆ Microsoft and Paige are building the world's largest AI model for detecting cancer
▼ + stars: | 2023-09-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: +6 min

The AI model is training on an unprecedented amount of data that includes billions of images, according to a release . Paige also built an AI model that can help pathologists identify breast cancer, colon cancer and prostate cancer when it appears on the screen. But in order to expand its operations and build an AI tool that can identify more cancer types, Paige turned to Microsoft for help. Over the past year and a half, Paige has been using Microsoft's cloud storage and supercomputing infrastructure to build an advanced new AI model. Paige's original AI model used more than 1 billion images from 500,000 pathology slides, but Fuchs said the model the company has built with Microsoft is "orders of magnitude larger than anything out there."

Persons: Paige, Fuchs, Thomas Fuchs, Andy Moye, ChatGPT, Moye, Desney Tan, Tan Organizations: CNBC, Food and Drug Administration, Memorial Sloan Kettering Cancer Center, Netflix, Microsoft, Microsoft Health Futures, Cornell Locations: New York

☆ Wall Street gets more bullish on Nvidia (again). Where Jim Cramer stands going into earnings
▼ + stars: | 2023-08-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Besides Apple (AAPL), Nvidia is the only other Club stock to get Jim's "own it, don't trade it" designation. There's no doubt technology giants in the world's second-largest economy want Nvidia's chips to build out their AI systems. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, I'm, Baird, KeyBanc, Piper Sandler, FactSet, Wei, Biden, Colette Kress, Jim Cramer's, Jim, Hsun Huang, Patrick T Organizations: Nvidia, Apple, HSBC, Barclays, Microsoft, Taiwan Semiconductor Manufacturing Company, Financial, Citigroup, Wall Street Journal, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Washington, U.S, Los Angeles , California

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Abu Dhabi-based G42, a tech conglomerate with nine operating companies that include datacenter and cloud service businesses, says it plans to use the Cerebras systems to sell AI computing services to health care and energy companies. G42 has raised $800 million from U.S. tech investment firm Silver Lake, which has backing from Mudabala, the UAE's soverign wealth fund. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. G42 Cloud's AlKaissi declined to comment on the terms of the deal.

Persons: Rebecca Lewington, Cerebras, Andrew Feldman, Feldman, Talal AlKaissi, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Cerebras, UAE, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

[1/2] A view of Condor Galaxy supercomputing systems for artificial intelligence work made by Cerebras Systems, in Santa Clara, California, U.S., in this undated handout photo received on July 19, 2023. Courtesy of Rebecca Lewington of Cerebras Systems/Handout via REUTERSJuly 20 (Reuters) - Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to supply the first of three artificial intelligence (AI) supercomputers to the United Arab Emirates-based technology group G42. "Cerebras has what they call a 'white glove' service that made it easy for us" to build AI systems on its machines, G42 Cloud CEO Talal AlKaissi told Reuters. The contract to complete the first of the three systems announced on Thursday is worth about $100 million, Cerebras CEO Andrew Feldman said. "What we're saying is that the $100 million contract takes us through Condor Galaxy 1... That's the unit, the building block."

Persons: Rebecca Lewington, Cerebras, Talal AlKaissi, Andrew Feldman, Stephen Nellis, Krystal Hu, Rashmi Organizations: Condor Galaxy supercomputing, Cerebras Systems, REUTERS, Systems, United Arab, Nvidia Corp, Nvidia, Condor Galaxy, Mudabala, Reuters, Thomson Locations: Santa Clara , California, U.S, United Arab Emirates, Abu Dhabi, Silver, San Francisco, New York

Kin Cheung | Pool | Getty ImagesLONDON — Two countries are jockeying for position as Europe's capital for artificial intelligence. So, who is leading the race to take Europe's AI crown? The European Union has its AI Act, which is set to be the first comprehensive set of laws focusing on artificial intelligence in the West. In contrast the EU's AI Act could make France "less attractive" for investment in artificial intelligence given that it lays down "a burdensome regulatory regime" for AI, Tanna said. Alexandre Lebrun, CEO of Nabla, an AI "copilot" for doctors, said the U.K. and France are "probably even" when it comes to attractiveness for starting an AI company.

Persons: Rishi Sunak, Emmanuel Macron, Kin Cheung, Macron, Karen Tso, Sunak, it's, Sajid Javid, Boris Johnson's, Simmons, Tanna, Anton Dahbura, Alexandre Lebrun, Lebrun, who've, Keir Starmer Organizations: British, Viva Tech, London Tech, Microsoft, U.S, CNBC, supercomputing, European Union, Johns Hopkins Institute, Autonomy, Google, Facebook, EU, Labour Locations: Europe, China, VivaTech, Paris, France, U.S, West, Germany, London

☆ Oracle's cloud business, which runs TikTok, could be hurt the most from Biden's new proposed restrictions for China
▼ + stars: | 2023-07-06 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Most US cloud companies won't be too hurt except perhaps Oracle, which runs TikTok. US cloud computing companies are about to be the latest target in the discord between the Biden administration and China. That loophole involves cloud computing companies. They merely have to pay for cloud computing services offered by the largest cloud providers. Chinese companies have plenty of local cloud providers to use for their cloud computing needs, like Tencent and Alibaba Cloud.

Persons: Biden, Bernstein, Mark Moerdler, Moerdler, Moerdler isn't, Ampere, Larry Ellison, Joe Biden, Julie Bort Organizations: Morning, Oracle, Wall Street, Amazon Web Services, Google, Microsoft, TikTok, Nvidia, supercomputing, AMD, Twitter Locations: China, Beijing

☆ Chinese A.I. stocks fall as U.S. reportedly weighs curbs on chip exports
▼ + stars: | 2023-06-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

A Nvidia Corp. HGX H100 artificial intelligence supercomputing graphics processing unit (GPU) at the showroom of the company's offices in Taipei, Taiwan, on Friday, June 2, 2023. China's artificial intelligence stocks fell Wednesday after the Wall Street Journal reported that the U.S. is planning to impose new curbs on shipments of AI chips to China. According to the Journal, U.S. chip makers such as Nvidia will be affected by the move which could happen as early as July. China's CSI artificial intelligence index fell 3% on that news on Wednesday in Asia. The Shenzhen-traded shares of Inspur Electronic Information Industry slumped 10% and Chengdu Information Technology of Chinese Academy of Sciences dropped nearly 8%.

Persons: OpenAI's ChatGPT, Bard chatbots, — Organizations: Nvidia Corp, Wall Street Journal, Journal, Nvidia, CSI, Industry, Chengdu Information Technology, Chinese Academy of Sciences Locations: Taipei, Taiwan, China, Asia, Shenzhen, Chengdu, Hong Kong, U.S

☆ Jim Cramer: Here's my outlook on stocks for the rest of 2023 — and how I'm playing it
▼ + stars: | 2023-06-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

A 6% solution to no inflation from the stock market. But not enough, again, because of the wave of money that's now flowing through the sand of the economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jensen Huang, Jensen, ChatGPT, Leonardo Da Vinci, Tesla, Elon, let's, Jerome Powell, Powell, Joseph Stalin, dismissively, FANG, That's, Wall, LEN, Salesforces, Cook, Zuckerberg, Huang, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Microsoft, Nvidia, Treasury, Federal Reserve, Tesla, Fed, Boeing, Devices, Adobe, Toll, Royal, Holdings, Musk, Jim Cramer's Charitable, CNBC Locations: Ukraine, Royal Caribbean

☆ This A.I. leader has nearly tripled this year. Wall Street can't stop raving about it and neither can we
▼ + stars: | 2023-06-20 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The stock has basically tripled year to date in the artificial intelligence-driven enthusiasm that has recently been gripping Wall Street. The analysts also increased their price target to $500 per share from $472 following discussions with CFO Colette Kress at a recent conference. Bernstein appears to echo this near-term bullish view on Nvidia, reiterating its outperform (buy) rating and $475-per-share price target. Evercore derived its price target by assuming 25x that $30 figure and discounting back to calendar year 2024, using a 10% discount rate . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jefferies, Colette Kress, Bernstein, —, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nvidia, supercomputing, Enterprise, Moore's, CNBC, NVIDIA Locations: Santa Clara , California

Where can a Chinese buyer purchase top-end Nvidia (NVDA.O) AI chips in the wake of U.S. sanctions? A model similar to OpenAI's GPT would require more than 30,000 Nvidia A100 cards, according to research firm TrendForce. Nvidia's more advanced H100 chips, only on the market since March, appear much harder to come by. He added the premiums currently commanded by Chinese vendors for A100 and H100 chips could collapse in the future as many of the Chinese AI startups that were driving purchases would eventually withdraw from the market. ($1 = 7.8307 Hong Kong dollars)Reporting by Josh Ye in Hong Kong, David Kirton in Shenzhen and Chen Lin in Singapore; Additional reporting by Fanny Potkin in Singapore; Editing by Brenda Goh and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden's, OpenAI's, Ivan Lau, Hong, ByteDance, Vinci Chow, Charlie Chai, Josh Ye, David Kirton, Chen Lin, Fanny Potkin, Brenda Goh, Edwina Gibbs Organizations: Nvidia, SEG, Reuters, supercomputing, HK, U.S . Department of Commerce, China's, Information, Tencent Holdings, Taobao, Chinese University of Hong, Thomson Locations: HONG KONG, SHENZHEN, China, U.S, Shenzhen, Hong Kong, India, Taiwan, Singapore, Chinese University of Hong Kong, Shanghai

☆ Flight training for Chinese military pilots targeted in latest US export crackdown
▼ + stars: | 2023-06-12 | by ( Karen Freifeld | ) www.reuters.com time to read: +2 min

June 12 (Reuters) - The Biden administration on Monday added 43 entities to an export control list, including Frontier Services Group Ltd, a security and aviation company previously run by Erik Prince, for training Chinese military pilots and other activities that threaten U.S. national security. The Test Flying Academy of South Africa, a flight school under scrutiny by authorities in Britain for recruiting British ex-military pilots to train Chinese military fliers, was also added to the U.S. Commerce Department's Entity List. The aviation-related companies were listed for providing training to Chinese military pilots using Western and NATO sources, according to a rule posted for the Federal Register. Thirty-one Chinese entities in total were added to the list, some for acquiring U.S.-origin items in support of China's military modernization, such as hypersonic weapons development. Nine Chinese and Pakistani companies were added based on their contributions to Pakistan’s ballistic missile program and other weapons contributions.

Persons: Biden, Erik Prince, Prince, Karen Freifeld, Chris Sanders, Alistair Bell Organizations: Frontier Services Group Ltd, Flying Academy of South, U.S . Commerce, Frontier Services Group, United, United Arab Emirates, Federal Register, U.S, Shanghai Supercomputing Technology, Solutions, Thomson Locations: U.S, Flying Academy of South Africa, Britain, China, Kenya, Laos, United Arab Emirates, South Africa, United Kingdom, Xinjiang, China's, Latvia

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ The A.I. chip boom is pushing Nvidia toward $1 trillion, but it won't help Intel and AMD
▼ + stars: | 2023-05-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Demand for AI chips in data centers spurred Nvidia to guide for $11 billion in sales during the current quarter, blowing away analyst estimates of $7.15 billion. "The flashpoint was generative AI," Huang said in an interview with CNBC. Nvidia currently dominates the market for AI GPUs. "The data center of the past, which was largely CPUs for file retrieval, is going to be, in the future, generative data," Huang said. That's one reason why Nvidia's data center business grew 14% during the first calendar quarter versus flat growth for AMD's data center unit and a decline of 39% in Intel's AI and data center business unit.

☆ Nvidia chips away at Intel, AMD turf in supercomputers
▼ + stars: | 2023-05-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

Nvidia is the world's top maker of graphics processing units (GPUs), which are in high demand because they can be used to speed up artificial intelligence work. But Nvidia's GPU chips are typically paired with what is called a central processing unit (CPU), a market that has been dominated by Intel and AMD for decades. The University of Bristol system will be used for climate science and drug discovery research, among other things. That's actually six times more performance and energy efficiency than the university's previous system, Isambard 2," Ian Buck, general manager and vice president of accelerated computing at Nvidia, said during a press briefing. Reporting by Stephen Nellis in San Francisco; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Intel gives details on future AI chips as it shifts strategy
▼ + stars: | 2023-05-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

May 22 (Reuters) - Intel Corp (INTC.O) on Monday provided a handful of new details on a chip for artificial intelligence (AI) computing it plans to introduce in 2025 as it shifts strategy to compete against Nvidia Corp (NVDA.O) and Advanced Micro Devices Inc (AMD.O). At a supercomputing conference in Germany on Monday, Intel said its forthcoming "Falcon Shores" chip will have 288 gigabytes of memory and support 8-bit floating point computation. Intel, by contrast, has essentially no market share after its would-be Nvidia competitor, a chip called Ponte Vecchio, suffered years of delays. Intel on Monday said it has nearly completed shipments for Argonne National Lab's Aurora supercomputer based on Ponte Vecchio, which Intel claims has better performance than Nvidia's latest AI chip, the H100. But Intel's Falcon Shores follow-on chip won't be to market until 2025, when Nvidia will likely have another chip of its own out.

☆ Check out the 13-slide pitch deck Mitiga, a startup using AI to predict climate risks, used to raise $14 million
▼ + stars: | 2023-05-19 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A startup using AI to predict climate risks has just raised 13 million euros (around $14 million). A startup using AI to predict climate risk to protect people and assets has just raised 13 million euros (around $14 million) in a round backed by Microsoft. A bevy of voluntary initiatives exist encouraging businesses to report climate risk, while some businesses in Europe must report physical risks associated with climate change. Existing solutions use historical data to predict risk, Mitiga cofounder and CEO Dr. Alejandro Martí told Insider. Mitiga also presents customers with an overall climate risk score and a breakdown of how risks relate to one another.

☆ Meta Platforms scoops up AI networking chip team from Graphcore
▼ + stars: | 2023-05-05 | by ( Katie Paul | ) www.reuters.com time to read: +4 min

May 5 (Reuters) - Meta Platforms Inc (META.O) has hired an Oslo-based team that until late last year was building artificial-intelligence networking technology at British chip unicorn Graphcore. "We recently welcomed a number of highly-specialized engineers in Oslo to our infrastructure team at Meta. Meta, which owns Facebook and Instagram, has become increasingly reliant on AI technology to target advertising, select posts for its apps' feeds and purge banned content from its platforms. The 10 employees' job descriptions on LinkedIn indicated the team had worked on AI-specific networking technology at Graphcore, which develops computer chips and systems optimized for AI work. A new category of network chip has emerged to help keep data moving smoothly within those computing clusters.

☆ Meta Platforms scoops up A.I. networking chip team from Graphcore
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +2 min

Meta Platforms Inc. has hired an Oslo-based team that until late last year was building artificial-intelligence networking technology at British chip unicorn Graphcore. "We recently welcomed a number of highly-specialized engineers in Oslo to our infrastructure team at Meta. They bring deep expertise in the design and development of supercomputing systems to support AI and machine learning at scale in Meta's data centers," said Jon Carvill, the Meta spokesperson. Meta, which owns Facebook and Instagram, has become increasingly reliant on AI technology to target advertising, select posts for its apps' feeds and purge banned content from its platforms. The 10 employees' job descriptions on LinkedIn indicated the team had worked on AI-specific networking technology at Graphcore, which develops computer chips and systems optimized for AI work.

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