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☆ Anthropic's AI chatbot Claude is posting lyrics to popular songs, lawsuit claims
▼ + stars: | 2023-10-18 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Universal Music has sued artificial intelligence startup Anthropic over "systematic and widespread infringement of their copyrighted song lyrics," per a filing Wednesday in a Tennessee federal court. One example from the lawsuit: When a user asks Anthropic's AI chatbot Claude about the lyrics to the song "Roar" by Katy Perry, it generates an "almost identical copy of those lyrics," violating the rights of Concord, the copyright owner, per the filing. The lawsuit also named Gloria Gaynor's "I Will Survive" as an example of Anthropic's alleged copyright infringement, as Universal owns the rights to its lyrics. Anthropic was founded in 2021 by former OpenAI research executives and funded by companies including Google , Salesforce and Zoom. "We have been focused on businesses, on making Claude as robustly safe as possible," Daniela Amodei, co-founder and president of Anthropic, told CNBC in a July interview.

Persons: Katy Perry, Claude, Gloria Gaynor's, Anthropic's, Anthropic, Kamala Harris, OpenAI's, Daniela Amodei Organizations: Pepsi, University of Phoenix, Farm, Universal Music, Universal, Google, White, Microsoft, CNBC Locations: Glendale , Arizona, Tennessee, Concord, ABKCO

☆ OpenAI's Sam Altman has 'deep misgivings' about people becoming friends with AI
▼ + stars: | 2023-10-18 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI CEO Sam Altman said he had "deep misgivings" about friendships with AI. "We named it ChatGPT and not a person's name very intentionally," he said during WSJ's Tech Live event on Tuesday. AdvertisementAdvertisementOpenAI CEO Sam Altman has misgivings about friendships between humans and AI. AdvertisementAdvertisementAltman's comments come amid a growing number of AI companies putting out chatbots with human-like personality and friendliness as a key feature. When AI startup Replika disabled their chatbots' "erotic role-play" feature, it caused an uproar among users who felt their AI companions had been "lobotomized."

Persons: Sam Altman, Altman's, —, Altman, Joanna Stern, Claude, Character.AI's, Kendall Jenner, Chris Cox, Altman isn't, Insider's Rob Price, OpenAI Organizations: WSJ's Tech, Service, Tech, Public Citizen Locations: Laguna Beach , California

☆ ChatGPT creator OpenAI partners with Abu Dhabi's G42 as UAE scales up AI adoption
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

G42, founded by the emirate of Abu Dhabi, said it would utilize OpenAI's generative AI models in areas including financial services, energy, healthcare and public services. Mubadala-backed G42 has been at the forefront of AI adoption in the UAE. Abu Dhabi's Advanced Technology Research Council (ATRC) also made its Falcom 40B large language model (LLM) open source for research and commercial use in May. G42 said it would use Microsoft's (MSFT.O) Azure data centers as part of its AI infrastructure to boost regional adoption. OpenAI CEO Sam Altman had visited Abu Dhabi in June as part of his AI "world tour", where he advocated for AI developments to be regulated by international bodies.

Persons: Dado Ruvic, OpenAI, Abu, Sam Altman, Arsheeya, Pooja Desai Organizations: REUTERS, United Arab, U.S, Cerebras Systems, Abu, Technology Research, Thomson Locations: Abu Dhabi, United Arab Emirates, UAE, Bengaluru

☆ Sam Altman says Satya Nadella and him are 'nowhere near the frenemy territory' — in fact, they text a lot
▼ + stars: | 2023-10-18 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI CEO Sam Altman says he and Microsoft CEO Satya Nadella are "nowhere near the frenemy territory." AdvertisementAdvertisementOpenAI CEO Sam Altman says that he isn't frenemies with Microsoft CEO Satya Nadella. "It's really good," Altman said about his relationship with Nadella, while adding that the pair have their squabbles. Microsoft is investing over $10 billion in OpenAI, granting Microsoft access to advanced AI systems while backing OpenAI's research. Representatives for Altman and Nadella did not immediately respond to requests for comment from Insider, sent outside regular business hours.

Persons: Sam Altman, Satya Nadella, Altman, —, Joanna Stern, Nadella, Stern, Microsoft's Bing, Microsoft's Bing chatbot, OpenAI, Elon Musk, ChatGPT Organizations: Microsoft, Service, WSJ Tech, Wall Street, Elon

☆ Sam Altman says he can't rule out OpenAI making its own chips, as AI firms around the world scramble to get enough processors
▼ + stars: | 2023-10-18 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Sam Altman said OpenAI would "never rule out" building its own AI chips. The company is dealing with a global shortage in microprocessors vital for training AI. Reuters reported that OpenAI was considering developing its own chips in a break from Microsoft. AdvertisementAdvertisementSam Altman has said that OpenAI will "never rule out" building its own AI chips as it grapples with a global shortage of vital processors. AdvertisementAdvertisementReuters reported earlier this month that OpenAI was exploring making its own chips to power ChatGPT.

Persons: Sam Altman, OpenAI, —, Altman, I'd Organizations: Reuters, Microsoft, Service, Nvidia

☆ ChatGPT can now respond with images and search the web
▼ + stars: | 2023-10-18 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

OpenAI, the company behind the viral chatbot, has officially launched real-time internet browsing for ChatGPT, three weeks after reintroducing the beta version of the capability — but it has been a significantly bumpy ride. But one of OpenAI's goals has been to expand ChatGPT's data — and search engine capabilities — into the here and now. In March, the company experimented with a ChatGPT web-browsing plugin for a limited number of users. The company has been slowly rolling out the feature again, after allowing site owners to opt out of the web crawling. Two of the foremost competitors in that race are OpenAI with ChatGPT and Google with its competitor, Bard.

Persons: OpenAI, Bing, OpenAI's, ChatGPT, Bard, Andreessen Horowitz Organizations: UBS, Google, Sequoia Capital, CNBC

☆ Get ready for 'AI factories'
▼ + stars: | 2023-10-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Nvidia is expanding its partnership with Foxconn to build data centers called "AI factories." The aim is for the AI factories to enable development of robots, self-driving cars, and generative AI services. AdvertisementAdvertisementCountries like the US are seeing a factory boom — and so-called "AI factories" could follow. "And the data centers that produce it are AI factories." The announcement of the AI factories comes as major technology companies like Microsoft invest billions into AI-efforts like building new data centers in an effort to cash in on the generative AI hype.

Persons: Foxconn, —, Jensen Huang, Huang, Foxconn didn't, Jonathan Gray, Blackstone Organizations: Nvidia, Service, Foxconn, Hon, Reuters, Microsoft, Research, University of Massachusetts Locations: Taipei, San Francisco and New York, Sweden, Netherlands

☆ Baidu's newest AI model Ernie 4.0 fails to wow investors, but analysts maintain 'buy' ratings
▼ + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

ZHEJIANG, CHINA - MARCH 16 2023: A view of the logo of ERNIE Bot, an AI chatbot service developed by Chinese search engine Baidu, March 16, 2023. Analysts are bullish on Chinese tech giant Baidu's latest version of its generative artificial intelligence model, Ernie 4.0, but investors did not react positively to the development. "We came away positively following the announcement of several new products including the official debut of Ernie 4.0," said Citi analysts in a report, after Baidu announced a "significantly improved" version of Ernie 4.0 on Tuesday. The Chinese tech giant claimed Ernie 4.0′s capabilities are on par with those of ChatGPT maker OpenAI's GPT-4 model. "It has been significantly improved compared to the online version of Ernie bot and now it is not inferior to GPT-4," Li told an audience of analysts, investors and journalists.

Persons: ERNIE Bot, Ernie, Robin Li, Li, Jefferies, OpenAI's, Ernie bot Organizations: Baidu, Citi Locations: ZHEJIANG, CHINA

☆ Here are Wednesday's biggest analyst calls: Nvidia, Microsoft, Apple, Amazon, Arm, Meta, Ulta & more
▼ + stars: | 2023-10-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

KeyBanc initiates Arm Holdings as overweight Key said it sees "meaningful market share gains" for Arm. " Bank of America reiterates Microsoft as buy Bank of America said Microsoft remains a top pick heading into earnings next week. Deutsche Bank reiterates Ulta as buy Deutsche said despite softening beauty sales, Ulta remains "compelling." "After tripling its market share in China in the last decade, NetEase is emerging as a global video games content powerhouse by forming synergistic partnerships with gaming industry veterans globally that will likely drive a similar runway for its global market share." "As we had anticipated (although we thought it would come in January), ASML reset expectations for CY24 to flat revenue growth vs prior guide of 'growth.'"

Persons: Wedbush, Key, IoT, Raymond James, Brinker, FWRG, Jefferies, Ulta, Morgan Stanley, NetEase, Redburn, Guggenheim, Doug McMillon, Bank of America downgrades Sherwin, Williams, Sherwin, Ecolab, McDonald's Organizations: UBS, Apple, Citi, Nvidia, NVIDIA, Holdings, ARM, JPMorgan, Bank of America, Microsoft, Jefferies, Deutsche Bank, Deutsche, Avis Deutsche, Walmart, of America Locations: China, Europe, Japan, Dutch, ESTC, Brazil, underperform

The logo of Baidu's AI chatbot Ernie Bot is displayed near a screen showing the Baidu logo, in this illustration picture taken June 28, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Oct 17 (Reuters) - Chinese technology giant Baidu (9888.HK) on Tuesday unveiled the newest version of its generative artificial intelligence (AI) model, Ernie 4.0, saying its capabilities were on par with those of ChatGPT maker OpenAI's pioneering GPT-4 model. He also showed Ernie 4.0 creating advertising posters and videos. Baidu, owner of China's largest internet search engine, is at the forefront of AI models in China amid a global craze over the technology sparked by the introduction of ChatGPT last year. In August, Baidu was among a number of firms to receive government approval to release AI products to the public.

Persons: Ernie Bot, Florence Lo, Ernie, Robin Li, ChatGPT, Baidu, Yelin Mo, Eduardo Baptista, Brenda Goh, Christopher Cushing Organizations: Baidu, REUTERS, Rights, HK, Thomson Locations: Rights BEIJING, Beijing, China, United States

☆ South Africa to probe Meta, Google competition with news publishers
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

A 3D printed Facebook's new rebrand logo Meta is seen in front of displayed Google logo in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJOHANNESBURG, Oct 17 (Reuters) - South Africa's Competition Commission will investigate whether digital platforms like Meta (META.O) and Google (GOOGL.O) were unfairly competing with news publishers by using their content to generate ad revenue, it said on Tuesday. The Commission will be investigating among other things market features that may distort competition for advertising revenue between news media organisations and digital platforms, and whether these are affected by imbalances in bargaining power. The inquiry will include general search engines such as Alphabet's Google and Bing, social media platforms such as Meta and X, news aggregation platforms, video sharing platforms such as YouTube and TikTok, and ad networks such as Google Ads. It will also examine generative artificial intelligence such as OpenAI's ChatGPT and how it uses original news content in its output, the Commission added.

Persons: Dado Ruvic, Doris Tshepe, James Hodge, Nqobile Dludla, Josie Kao Organizations: REUTERS, Rights, Africa's, Google, YouTube, Thomson Locations: Rights JOHANNESBURG

☆ AI gave tech giants a $2.4 trillion boost to their market caps in 2023
▼ + stars: | 2023-10-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Nvidia's high-performance chips power many advanced generative AI models, which produce new content from huge volumes of training data. The world has been abuzz with talk about generative AI tools like OpenAI's ChatGPT, Google's Bard and Anthropic's Claude. The U.S. led the way in generative AI funding deals, with the likes of OpenAI and Anthropic raising billions. AccelIn Europe, three of the biggest generative AI company rounds came out of France — Hugging Face ($235 million), Poolside ($126 million) and Mistral AI ($113 million). In Europe and Israel, 40% of new unicorns were in generative AI; in the United States, it was 80%.

Persons: Botteri, Google's Bard, Anthropic's Claude, Philippe Botteri, they're, OpenAI, they'd Organizations: Future Publishing, Getty Images, Accel, Apple, Microsoft, Nvidia, Companies, Nasdaq, U.S, Public, CNBC, Mistral, Tech, Big Tech, FAANG, Netflix, Google Locations: U.S, Unity, Europe, Israel, France, United States

☆ Chinese AI startup Baichuan raises $300 mln from Alibaba, Tencent, others
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

HONG KONG/BEIJING, Oct 17 (Reuters) - Chinese artificial intelligence (AI) startup Baichuan has raised $300 million from investors including Chinese tech giants Alibaba (9988.HK) and Tencent (0700.HK), it said on Tuesday. The company said on its WeChat account that the round followed an early $50 million angel round. China's craze over generative AI has triggered a flurry of product and fundraising announcements from startups and tech giants, as the industry races to find a homegrown rival to Microsoft-backed OpenAI's ChatGPT. Shunwei Capital, a venture capital firm chaired by Xiaomi's chief executive Lei Jun, participated in the capital raise, according to a source familiar with the matter. Baidu (9888.HK) on Tuesday unveiled the newest version of its generative AI model, Ernie 4.0, saying its capabilities were on par with OpenAI's pioneering GPT-4 model, but analysts cautioned the launch lacked major highlights versus the previous version.

Persons: Wang Xiaochuan, Baichuan, Lei Jun, Shunwei, Ernie, Josh Ye, Roxanne Liu, Jason Neely, Emelia Organizations: HK, Microsoft, Shunwei, Baidu, Thomson Locations: HONG KONG, BEIJING, Hong Kong, Beijing

☆ Layoffs hit coding community Stack Overflow as software engineers increasingly shift to AI for help
▼ + stars: | 2023-10-17 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Coding community Stack Overflow announced on Monday that it's laying off 28% of its staff. Many generative AI models were partly trained on Stack Overflow's information. This is the second round of layoffs Stack Overflow has had this year — it laid off 10% of its workforce in May. Stack Overflow recently announced the new round of layoffs after more than doubling its headcount in 2022. "Some of them are very explicit about calling out Stack Overflow as a primary source," Chandrasekar previously told Insider.

Persons: Stack, —, GitHub, OpenAI's, Prashanth Chandrasekar, Chandrasekar Organizations: Service

☆ A lot of 2023's new unicorns have been generative AI startups. Here's what to expect from the sector next year, according to Accel.
▼ + stars: | 2023-10-17 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

Generative AI startups have made up a lot of the world's new unicorns this year. High-profile investors have jostled to back, in some cases, weeks-old startups like Mistral as the hype around generative AI intensified. Both regions also tout a batch of promising unicorns across the generative AI stack. Generative AI will become a run-of-the-mill tool"Generative AI will unlock new verticalised applications built with smaller and dedicated models and industry-specific workflows," the Accel report said. Enterprises will also jump to incorporate generative AI more seamlessly into their automation tools, per the report.

Persons: —, Phillipe Botteri, Harvey Organizations: Venture, Mistral, US, Accel Partners, Runway, Accel, EU, Stanford University, Enterprises, Big Tech, Microsoft Locations: Europe, Israel, Jasper, France, EU

☆ Chinese tech giant Baidu says its latest update to ChatGPT rival Ernie is 'not inferior in any respect' to GPT-4
▼ + stars: | 2023-10-17 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Chinese search giant Baidu has unveiled the latest version of its Ernie generative AI model. The company says that it is a match for GPT-4, the large language model behind OpenAI's ChatGPT AI. AdvertisementAdvertisementChinese AI companies are racing to match ChatGPT — and now, one says it has a chatbot that can go toe-to-toe with OpenAI's GPT-4 model. The chatbot is now also able to provide video and audio responses — unlike OpenAI's GPT-4, which currently only generates text responses. "Ernie is not inferior in any respect to GPT-4," said Li, in comments reported by Bloomberg .

Persons: —, ChatGPT —, OpenAI's, Ernie, Robin Li, Li Organizations: Baidu, GPT, Service, Bloomberg, Microsoft, US Locations: Beijing, China, Taiwan

☆ OpenAI's growth this year has been unstoppable. Maintaining it will be the hard part.
▼ + stars: | 2023-10-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

OpenAI's growth this year has been unstoppable. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It's safe to say it has provided an unstoppable force of growth to OpenAI ever since. Gemini, the search giant's widely anticipated multimodal AI model, designed to rival ChatGPT's underlying model GPT-4, is expected to be launched this year. Meanwhile, the open-source community has been busy developing an alternative AI model.

Persons: —, Sam Altman reckons, OpenAI, ChatGPT, Kai Xiang Teo, scrappy Organizations: Service, The, Microsoft, OpenAI

☆ AI models can analyze thousands of words at a time. A Google researcher has found a way to increase that by millions.
▼ + stars: | 2023-10-16 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

A recent research paper revealed a new way to help AI models ingest way more data. Soon, you'll be able to put millions of words into context windows of AI models, researchers say. Bigger AI models can handle more, but only up to about 75,000. Massive context windowsThis Ring Attention method means that we should be able to put millions of words into the context windows of AI models, not just tens of thousands. AdvertisementAdvertisementThis chart shows some of the results of tests from the "Ring Attention" AI research paper.

Persons: you'll, —, Matei Zaharia, Pieter Abbeel, Claude, That's, OpenAI's, Hao Liu, Liu Organizations: Service, Google, UC Berkeley, Databricks, Nvidia Locations: GPT

☆ OpenAI has quietly changed its core values, and being 'thoughtful' and 'audacious' no longer makes the cut
▼ + stars: | 2023-10-16 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

OpenAI has quietly changed the core values it displays on its career page. AdvertisementAdvertisementOpenAI has quietly changed its core values on the company's careers page. OpenAI's new core values are now "AGI focus," "intense and scrappy," "scale," "make something people love," and "team spirit," per the company's careers page. The initial set of core values had been used since at least January 2022, per the Internet Archive. AdvertisementAdvertisementWhile some older core values seem to have been folded into new ones, others lack a clear replacement.

Persons: OpenAI, —, …, Altman, Geoffrey Hinton, Sam Altman, Elon Musk, Musk Organizations: Service, New Yorker, Microsoft

☆ Meta's unique approach to developing AI puzzles Wall Street, but techies love it
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +18 min

If the world's leading AI researchers use Llama, Meta could have an easier time hiring skilled technologists who understand the company's approach to development. Spisak helped oversee PyTorch and other open source AI projects when he worked at Meta from 2018 until January 2023. Although a number of open source LLMs are available, Lambert said Llama 2 is by far the most popular. "Facebook was not and that's sort of how they move forward and democratizing this, giving sort of broad access to open source. However, open source doesn't always win, and Padval acknowledged that "in this case, I don't know how it's going to evolve."

Persons: Mark Zuckerberg, Josh Edelson, Mark Zuckerberg's multibillion, Joseph Spisak, that's, Zuckerberg, Meta, Andrew Bosworth, Yann LeCun, isn't, Susan Li, Spisak, Cai GoGwilt, GoGwilt, OpenAI's, Ahmad Al, Dahle, he's, Jim Fan, Arjun Bansal, Jensen Huang, Nathan Lambert, Lambert, Critics, Umesh Padval, " Lambert, Nvidia's, Fan, Meta's, Taka Ariga, Ariga, Claude, Elon Musk, Tesla, Nur Hamdan, OpenAI's GPT, Sam Altman, Guido Appenzeller, Thomvest's Padval, Padval Organizations: Meta, AFP, Getty, Microsoft, Industry, Linux, Microsoft Windows, Facebook, Twitter, Finance, Google, AI Research, FAIR, Apple, Nvidia, Web Services, Thomvest Ventures, TC Cowen, United, United Arab Emirates, U.S, Government, AWS, Bloomberg, Amazon, VMware, Intel, Red Hat Locations: Menlo Park , California, Taiwan, United Arab, Washington, Elon, Hamadan, Seoul, South Korea

☆ It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
▼ + stars: | 2023-10-16 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Gary Gensler told the Financial Times that the next financial crash could be sparked by AI. The SEC chair called for regulation to address how AI models are being used by banks on Wall Street. AdvertisementAdvertisementThe chair of the SEC has warned that AI could trigger a financial crisis, as Wall Street rushes to adopt the new technology. "And this is about a horizontal [matter whereby] many institutions might be relying on the same underlying base model or underlying data aggregator." Rival JPMorgan, meanwhile, has reportedly filed a patent for an AI model known as 'IndexGPT' that would help traders choose securities to invest in.

Persons: Gary Gensler, Morgan Stanley, —, we've, Gensler, Goldman Sachs Organizations: Financial Times, SEC, Banking, Service, Wall, JPMorgan, Deutsche Bank, Bank of America Locations: Wall

☆ It's official: 2023 is the year of Microsoft's glow-up
▼ + stars: | 2023-10-14 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its big bet on AI appears to be paying off while blockbuster deals are getting greenlit. 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 . AdvertisementAdvertisementIt's a history that is firmly behind the company: 2023 looks set to be the year Microsoft completes its glow-up. But by and large, 2023 has been a remarkable year for Microsoft.

Persons: —, Steve Ballmer, Bill Gates, Satya Nadella, Sam Altman, Nadella, Bing Organizations: Microsoft, Service, Apple, Google, The, Activision Blizzard, Markets Authority, Sky News, IRS, Treasury Locations: Ballmer

☆ On Amazon, eBay, and Shopify, AI is the new third-party seller
▼ + stars: | 2023-10-13 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +4 min

Did AI help in the process of convincing you to spend? We do know for sure that getting a leg up on the competition is getting easier for e-commerce platform sellers through the latest AI. Amazon, for example, recently rolled out a generative AI tool to help sellers write more robust and effective product descriptions. Here's what sellers need to know about using AI to sell more effectively. Customers will find more complete product information, as the new technology will help sellers provide richer information with less effort," the company stated.

Persons: Al Drago, Chris Jones, Greg Mercer, Mercer, Sellers Organizations: Amazon Devices, Amazon.com Inc, Bloomberg, Getty, Amazon Prime, New York Times, Meta, Business, Scout Locations: Arlington , Virginia

☆ Here's the 21-page pitch deck that Slope, a fintech looking to upend B2B payments, used to score $30 million from investors like OpenAI's Sam Altman
▼ + stars: | 2023-10-13 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Lin Murata worked at the business growing up, doing everything from sales to filing paperwork to working the cash register. "My parents, they're very old school, and all the existing solutions were excruciating to use, and we realized there was a real need for a frictionless B2B payments solution," said Lin Murata. It's a tall order to digitize B2B payments — companies ranging from middle-market companies and mom-and-pop shops have been notoriously hard to penetrate and spur technological change. Of the $125 trillion market for global B2B payments, only a fraction of transactions — less than $6 trillion according to Slope's pitch deck — occur online. The latest investment brings Slope's total funding to $187 million, with $62 million in equity and $125 million in debt capital.

Persons: Lawrence Lin Murata, Lin Murata, Alice Deng, Deng, Sam Altman, OpenAI's Sam Altman Organizations: Union Square Ventures, OpenAI's Locations: China, Brazil, Slope's

☆ 'Great tailwind': Asset manager is bullish on this under-the-radar AI stock
▼ + stars: | 2023-10-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

But according to Deepwater Asset Management, there's one under-the-radar AI stock that will be essential for the long-term infrastructure rollout of artificial intelligence. "An under-the-radar AI stock is Vertiv," Doug Clinton, managing partner at Deepwater, told CNBC's "Street Signs Asia" last week. The company's specialty is graphics processing units, or GPUs, which have become the preferred chips for the large AI models that underpin generative AI software. "We think [Vertiv has] a great tailwind for the next three to five years as this AI hardware buildout continues," Clinton added. Alphabet Alphabet , which Clinton described as Deepwater's largest AI holding, has a "great catalyst" for the latter half of this year: the launch of its latest AI model Gemini.

Persons: Doug Clinton, CNBC's, Clinton, Kif Leswing Organizations: Nvidia, Microsoft, Asset Management, Deepwater, Deepwater Frontier Tech, Ark, Global, Robotics, Intelligence, Deepwater Frontier, Adobe, Unity Software Locations: U.S, LOUP, Netherlands, Taiwan, South Korea

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