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☆ Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.
▼ + stars: | 2024-09-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.

Persons: —, Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside

☆ These 4 Asian stocks are set to pop on an AI server cooling boom, Nomura says
▼ + stars: | 2024-09-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

That's liquid cooling, a cooling technology used in data centers which helps to improve power and cost efficiency. "As air cooling is approaching the limit of its cooling capacity, the importance of liquid cooling is getting increasingly more pronounced … liquid cooling [is] becoming a must-have for GB200," said the bank. Nomura estimates the liquid cooling penetration rate in Nvidia's AI servers is set to rise from 8% in 2024 to 43% in 2025, and 47% in 2026. Liquid cooling systems are the solution to "power shortage pressures" in data centers, Morgan Stanley said in a previous report . Against that backdrop, Jefferies is bullish on four Asian stocks it says will be "key beneficiaries" of the liquid cooling trend.

Persons: Nomura, Morgan Stanley, Jefferies, it's, — CNBC's Michael Bloom Organizations: Nvidia, Nomura, Tech, Jefferies, Nvidia's G200, Micro Computer, Quanta's CDU, Microsoft, Meta, Web Services Locations: Taiwan, Delta

☆ Cooling needs and more: Jefferies names global stocks to buy driven by AI data center demand
▼ + stars: | 2024-09-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That also means that AI data centers are growing fast — as is the demand for them. That in turn is set to drive up the demand for cooling systems for data centers. We believe the demand for liquid cooling for AI data centers should sustain for the following 5-10 years, driven by continuous iteration of AI chips and rising heat dissipation requirements," Jefferies said in a Sept. 10 report. Cooling services have been said to improve power efficiency in data centers and, by extension, cost efficiency. Envicool Technology : Jefferies expects data center cooling sales in Southeast Asia to contribute one-third of such sales for the Chinese firm.

Persons: Jefferies, — CNBC's Michael Bloom Organizations: Jefferies, Stock, Schneider Electric, Technology, PSU, Nvidia Locations: China, Southeast Asia

☆ How to increase your attention span amid digital overload
▼ + stars: | 2024-08-11 | by ( Riane Lumer | ) edition.cnn.com time to read: +10 min

While a dwindling attention span is not due to a personal failing (despite individual variability) a majority of the time, experts say there are changes you can make to regain control over your mind. “Tech companies and ad marketing companies use this information to construct profiles about us, and then they design algorithms that are targeted to capture our attention,” Mark said. “We have a tank of attentional resources (that) gets drained when we keep switching our attention,” Mark said. Additionally, he suggested using an app that places time limits on social media or websites you find yourself addicted to using. “The way I feel at the moment is like somebody is pouring itching powder over us all day,” Hari said.

Persons: I’m, it’s, Gloria Mark, Mark, Graham Burnett, ”, Burnett, Henry Charles Lea, ” Mark, Shoshana Zuboff, “ I’m, Johann Hari, ” Hari, Hari, ’, There’s Organizations: CNN, University of California, Computing Systems, Institute, Strother School, Princeton University, “ Tech, Harvard Business School, Facebook, New York Times, Association of Computing Locations: Irvine, Brooklyn , New York, New Jersey, Boston, Silicon Valley

☆ Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion partnership in eight months
▼ + stars: | 2024-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

In January, U.S. bitcoin miner Core Scientific was bankrupt and battling angry lenders. Core Scientific will deliver an additional 112 megawatts of computing infrastructure to support CoreWeave's operations. Core Scientific said the deal will generate an additional $2 billion in revenue over 12 years, on top of an existing arrangement that's expected to bring in $4.7 billion. In total, the company plans to provide about 382 megawatts of infrastructure to CoreWeave by the first half of 2026, with the possibility of adding 118 megawatts at other Core Scientific sites. "We've seen tremendous growth since our emergence in January and have been laser focused on developing best-in-class digital infrastructure," Core Scientific CEO Adam Sullivan told CNBC.

Persons: We've, Adam Sullivan Organizations: Nvidia, CNBC

☆ Tech's Divorced Dad Energy: Silicon Valley Is Letting Down Customers
▼ + stars: | 2024-08-06 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Big Tech companies became less known for one particular product. Instead, Big Tech became obsessed with a series of half-baked boondoggles that seemed revolutionary, yet in practice, were either not reliable enough to be trusted or simply not that useful. Big Tech has become sullen, entitled, and lazy, believing that nobody else could snatch away its precious customers. Related storiesEven when tech companies aren't trying to shove AI down our throats, they fall into a similar trap. AdvertisementWhen the public eventually walks out, I don't believe Big Tech is even capable of making the adjustments necessary to win them back.

Persons: Smart, surly, Apple, Meta, Tesla, Elon Musk, Musk, —, Goldman Sachs, Jim Covello, Sundar Pichai, it's, Tech's, Satya Nadella Organizations: Google, Microsoft, Apple, Big Tech, Siri, Amazon, Meta, Tech, Facebook, cryptocurrency, Porsche, Microsoft Windows Locations: America

☆ Britain cancels $1.7 billion of computing projects in setback for global AI ambitions
▼ + stars: | 2024-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

(Photo by Rasid Necati Aslim/Anadolu via Getty Images)The U.K. government has canceled £1.3 billion ($1.7 billion) worth of computing infrastructure projects, in a big setback to the country's ambitions to become a world leader in artificial intelligence. A government spokesperson confirmed to CNBC that two major taxpayer-funded spending commitments, worth £500 million and £800 million, respectively, were being dropped in order to prioritize other fiscal plans. Earlier this week, British Finance Minister Rachel Reeves announced a raft of spending cuts after revealing Labour had inherited a projected £22 billion ($28 billion) of unfunded pledges from the center-right Conservatives. The Labour government was widely expected to announce the introduction of the first-ever U.K. AI Bill in a speech delivered by King Charles III last month. A DSIT spokesperson instead told CNBC the government would consult on plans to regulate AI in due course.

Persons: Rasid Necati, Rishi Sunak's, Rachel Reeves, unfunded, codebreakers, Keir Starmer's, King Charles III Organizations: Artificial Intelligence, Getty, CNBC, Research, University of Edinburgh, Labour, Department for Science, Innovation, Technology, British Locations: London, United Kingdom, Anadolu, Bletchley, Nazi Germany

☆ Why not all semiconductor firms are benefitting from the AI boom like Nvidia has
▼ + stars: | 2024-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. Current interest in artificial intelligence revolves around two key terms — large language models (LLMs) and generative AI. Not all chip firms are benefitting from the boom in artificial intelligence, earnings show, underscoring the complexities of the semiconductor supply chain and dominance of some companies over others in different parts of the sector. But Nvidia's rival AMD has brought its own chip to market, called the MI300X AI chip, for AI purposes and is beginning to see the rewards. Chip manufacturing and tool companies appear to be benefitting too from the boom in AI.

Persons: Jensen Huang, Meta, ASML Organizations: Nvidia Corp, Blackwell, Nvidia, Technology, Google, Tech, Microsoft, AMD, Samsung, Qualcomm, CNBC

☆ Jim Cramer looks at what's holding back AMD stock from rallying even further
▼ + stars: | 2024-07-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer is "still in favor of owning the tech titans" even though "they don't benefit" when the Fed eventually decides to cut rates. Jim also noted another reason for AMD stock not rallying even further — investors still want to be in "companies that benefit from lower rates." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Stocks, Cramer, Lisa Su, Jim, We're, Jim Cramer's Organizations: CNBC, Federal Reserve, Fed, Microsoft, Nvidia, AMD, DuPont

☆ Gold chains and leather jackets: The business deals behind the tech industry's most powerful bromance
▼ + stars: | 2024-07-30 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMeta CEO Mark Zuckerberg didn't let the tomatoes touch after he cut them into perfectly uniform slices. "In our company, I want every engineer and every software developer to have an AI or many AIs," Huang said to Zuckerberg. Huang and Zuckerberg have big stakes in that vision coming true, according to Paul Baier, CEO and principal analyst at GAI Insights. Huang needs to ensure LLMs keep building with Nvidia chips and Zuckerberg needs Huang's credibility to bolster his semi-open-source strategy.

Persons: —, Mark Zuckerberg didn't, Huang, Zuckerberg, Google's, Meta's, Meta, Paul Baier, Baier Organizations: Service, Business, Nvidia, Meta, Microsoft, AIs Locations: Hawaii

☆ Mark Zuckerberg is tired of playing by Apple's rules
▼ + stars: | 2024-07-24 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Read previewMark Zuckerberg sounds tired of having to navigate Apple's restrictions. "One of my formative experiences has been building our services constrained by what Apple will let us build on their platforms," Zuckerberg wrote. Zuckerberg expanded on his critique of Apple in an interview with AI news YouTuber Rowan Cheung, also published Tuesday. "Compared to the Apple approach of coupling your operating system with the device, the Windows approach was a more open ecosystem," he said. AdvertisementAnd Zuckerberg hopes Meta will also be on the winning side.

Persons: —, Zuckerberg, OpenAI, Rowan Cheung, doesn't, David Wehner, Zuck, Meta, I've Organizations: Service, Apple, Business, Meta, Apple Intelligence

☆ Quant prop-trading firm Hudson River Trading hopes to supercharge its trading power by partnering with Google Cloud
▼ + stars: | 2024-07-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

New York-based Hudson River Trading is best known for its market-making capabilities. Hudson River Trading winning any trade over its competitors, like Citadel Securities, Virtu, and Jane Street, comes down to its pricing engine. To help it get there, Hudson River Trading turned to Google Cloud, where its quants have been conducting their research for several months without the constraints of an on-premise environment. "Google Cloud allows us to do that without limits to computing power." Advertisement"In other words, what I'm saying is that we need to predict the future of the stock market," Dunning said.

Persons: —, Jane Street, Iain Dunning, Kevin Lee, Dunning, Ken Griffin's, Italo Brito, Brito Organizations: Service, Hudson, Hudson River Trading, Citadel Securities, Virtu, Business, Trading, Google, Nvidia, HRT, Sigma Locations: New York, Hudson

☆ Forget the Magnificent 7: UBS just refreshed its 'Super 8' list of global stock picks
▼ + stars: | 2024-07-16 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

But for those looking for alternatives, UBS has refreshed its list of "highest conviction and most investable" tech stocks in Asia. So far, UBS' Asian Super 8 has gained 8.3% since its inception in February, beating the 6.7% returned by the benchmark MSCI Asia-Pacific index. "We believe the valuation discount across the value chain in Asia's technology sector offers a defensive catch-up play for investors," UBS' analysts wrote. Tencent has been making headlines recently, with several analysts bullish, including Goldman Sachs , which included the stock in its conviction list. The company, which also goes by the name Foxconn, is expecting over 40% year-on-year growth in its AI server sub-segment this year, UBS' analysts noted.

Persons: Tencent, Goldman Sachs, Hon Hai Taiwan's, Hai, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, UBS, Hong Kong Stock Exchange, U.S, Hai Precision Industry, Taiwan Stock Exchange, Lenovo Lenovo, Lenovo, Hong Kong Exchange Locations: Asia, China, U.S

☆ There's a major bottleneck in AI data center expansion, analysts say. Here's how to play it
▼ + stars: | 2024-07-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

One area is causing a major bottleneck in data center expansion and the energy transition, according to several analysts: the power grid. Morningstar said in its third-quarter equity market outlook last week that: "The grid is the biggest bottleneck of the energy transition. Over in China, there are also targets to accelerate the "intelligent transformation" of grid infrastructure and the construction of smart micro-grids, the bank said. Over in China, HSBC likes one Chinese stock to play the power grid infrastructure bottleneck. There's also one exchange-traded fund that tracks the sector: the First Trust Nasdaq Clean Edge Smart Grid Infrastructure UCITS ETF , which tracks the performance of stocks in the grid and electric energy infrastructure sector.

Persons: Morningstar, Louis Navellier, There's Organizations: Citi, Veolia, HSBC, Navellier, Associates, Emcor, Infrastructure Locations: United States, New York , California, Europe, China, RWE

Japan scrapped every regulation requiring the use of floppy disks for administrative purposes this week, catching up with the times 13 years after the country’s producers manufactured their last units. The floppy disk, invented in the 1970s, was once a ubiquitous part of computing. In the 1990s, along with the cassette tape, it was thrown into the dustbin of outdated tech. While renowned for its consumer electronics giants, robots and some of the world’s fastest broadband networks, the country has also been wedded to floppy disks and other old technologies like fax machines and cash. Japan began moving away from the 1900s storage devices, magnetic disks encased in plastic, just two years ago, when Taro Kono, the country’s digital minister, declared a “war on floppy disks.”

Persons: Taro Kono Locations: Japan

☆ Citadel’s Ken Griffin says he's not convinced that AI will replace human jobs in the near future
▼ + stars: | 2024-07-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete as he sees flaws in machine learning models applied in certain scenarios. Some are convinced that within three years almost everything we do as humans will be done in one form or another by LLMs and other AI tools," Griffin said Friday during an event for Citadel's new class of interns in New York. "For a number of reasons, I am not convinced that these models will achieve that type of breakthrough in the near future." The rapid rise of AI has had the world pondering its far-reaching impact on society, including technology-induced job cuts. "Machine learning models do much better when there's consistency."

Persons: Ken Griffin, Griffin, Elon Musk Organizations: Citadel, Harvard University, Massachusetts Institute of Technology Locations: New York

☆ Chinese smartphone maker Honor says AI's power is 'worthless' without data privacy
▼ + stars: | 2024-06-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

watch now"Without data security and user privacy protection, AI will become worthless," Zhao said in Mandarin, translated by CNBC. But I believe on-device AI, in its capabilities and empowerment of consumers, will become more and more intimate, more and more understanding." "It will give consumers more support and help them interact with the future AI world," he added. He said a system collecting lots of user data to deliver more personalized features becomes a "stronger" object compared to the individual using the system. The Honor Magic V2, the latest foldable smartphone from the Chinese manufacturer, is on display at the Mobile World Congress 2024 in Barcelona, Spain.

Persons: George Zhao, John Hoffman, Zhao, Apple, OpenAI's Organizations: Shanghai Mobile, Congress, CNBC, Apple, Mobile, Apple Intelligence, Baidu, Google, Nurphoto, Getty Locations: HANGZHOU, China, U.S, Shanghai, Barcelona, Spain

Bitcoin mining companies have expansive data centers, with access to fiber lines and large amounts of power across the U.S. They're exactly the types of facilities needed for compute-intensive AI operations, which means their sites and technology are in high demand. Core Scientific will deliver 70 megawatts of computing infrastructure to support CoreWeave's operations. Earlier this month, CoreWeave offered to buy Core Scientific for $1.02 billion, not long after their initial agreement. Core Scientific rejected the bid.

Persons: JPMorgan Chase, CoreWeave, Adam Sullivan Organizations: JPMorgan, Core, Nvidia

☆ It looks like Nvidia failed to soothe skittish investors
▼ + stars: | 2024-06-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Huang also failed to mention during the meeting when exactly the company's next-generation AI chip, Blackwell will become available, although he said it would be "the most successful product" in Nvidia's history. Nvidia serves over five million developers and 40,000 companies, including thousands of AI companies. Nvidia declined a request for comment from Business Insider.

Persons: —, it's, Jensen Huang didn't, Sam Altman, Elon Musk, Huang, Blackwell Organizations: Service, Microsoft, Business, Google, Nvidia

☆ U.S. is closer to curbing investments in China's AI, tech sector
▼ + stars: | 2024-06-22 | by ( ) www.cnbc.com time to read: +4 min

Public comments on the proposed rules will be accepted until Aug. 4. watch nowTreasury said the new rules were intended to implement "a narrow and targeted national security program" focused on certain outbound investments in countries of concern. Treasury had mapped out the contours of the proposed rules in August. Certain third-country transactions determined to be addressing national security concerns, or in which the third country adequately addressed the national security concerns, could also be exempted, Treasury said. "U.S. investors will need to engage in more extensive due diligence when making investments in China or investments involving Chinese companies that operate in the covered sectors," she said.

Persons: Joe Biden, Investment Security Paul Rosen, Laura Black, Akin Gump, Black, Treasury's Organizations: U.S . Treasury Department, Investment Security, Treasury, Treasury Department, U.S Locations: Europe, United States, Binzhou, East China's Shandong province, China, U.S, Macao, Hong Kong, Washington

☆ Citi names one 'compelling emerging' theme to play real estate — and stocks and REITs to buy
▼ + stars: | 2024-06-21 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Real estate companies around the world are eyeing one area right now: data centers, according to Citi. Citi noted the push toward data centers is being driven by major themes such as artificial intelligence and nearshoring. More industrial companies are looking to convert warehouses into data centers, Citi noted. Stocks to benefit The bank named three "direct beneficiaries" of rising data center demand: U.S.- listed real estate investment trust Digital Realty Trust , data center firm Equinix and Australia-listed NextDC . Paul Hanna | Bloomberg | Getty ImagesReal estate companies around the world are eyeing one area right now: data centers, according to Citi.

Persons: Stocks, There's, Keppel DC REIT, Paul Hanna Organizations: Citi, Digital Realty Trust, Digital Realty, Equinix, Nvidia, Keppel DC, Industrial Trust, Inc, Talavera de la Reina, Bloomberg, Getty Locations: datacenters, Equinix, Australia, Singapore, India, Talavera de, Spain

☆ 'Robust growth opportunity': Citi loves this global stock as it pivots to AI data centers
▼ + stars: | 2024-06-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Industrial property firm Goodman Group is converting its traditional warehouses into data centers to meet the surging demand for artificial intelligence infrastructure. Citi believes this trend will likely drive "double-digit medium-term earnings growth" and has added the Australian stock to its "Pan-Asia Focus list." Data centers are large buildings that house critical computing infrastructure and equipment. "As it progresses opportunities in data centers, it is likely to deliver a large range of products from powered sites and turnkey projects." Electricity has been a key bottleneck preventing many data centers from further expansion.

Persons: Howard Penny, Goodman Organizations: Goodman Group, Citi, GMG Locations: Asia, Sydney, United States, Australia, Japan, Hong Kong, Singapore

☆ These are the stocks to play the next 'bottleneck' in AI, according to the pros
▼ + stars: | 2024-06-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

But the next bottleneck in AI infrastructure — and one to invest in — is networking, according to tech analysts. An increase in investment in generative AI model training and inference will drive the AI networking spending growth of 34% over the next five years, said the firm. "Networking creates a performance bottleneck for generative AI model development," Morningstar's analysts said. "Well-positioned networking firms are a great second derivative play to invest in generative AI," they added. Stocks to play the trend Marvell Technology is Morningstar's top pick to play the generative AI networking trend, with the firm saying it is "attractively undervalued" currently and giving investors an "immediately opportunity" to tap rising generative AI networking investment.

Persons: There's, Clare Pleydell, William D, Kerwin, Brian Colello, Morningstar, Bouverie Organizations: Nvidia, Microsoft, Networking, Morningstar, Liontrust Asset Management, CNBC, That's, Marvell, Arista Networks, Broadcom, Arista, Meta

☆ Miners are selling their bitcoin again as the cryptocurrency struggles to hold onto $70,000
▼ + stars: | 2024-06-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

According to data from CryptoQuant, the flow of bitcoin leaving miners wallets for exchanges – which indicates a selling event – reached a two-month high last weekend. Additionally, miner selling through over-the-counter desks saw its biggest daily volume since late March. CryptoQuant shows the hourly transfer of bitcoin from miners to exchanges rose to more than 3,000 bitcoins on June 9. "Daily bitcoin miner revenues stand today at about $35 million, down 55% from their 2024 peak reached in March." That's mostly as a result of "depressed" transaction fees, however, rather than the slashing of miners' block reward at the halving.

Persons: –, Mike Colonnese, Wainwright, we're, Bitcoin, Julio Moreno, Moreno, Colonnese, Iris, Iren, They've Organizations: H.C, Iris Energy Locations: CryptoQuant

☆ Apple execs explain why its AI is different from competitors
▼ + stars: | 2024-06-11 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Nic Coury | AFP | Getty ImagesApple fully embraced artificial intelligence on Monday, as company executives explained the features and reasoning behind Apple Intelligence, the company's new AI software suite. Much of the AI development that has captured investor and technological interest has focused on building or securing ever-more powerful supercomputers equipped with Nvidia chips to develop even more power-hungry AI models. Apple's AI is mostly on your deviceApple Intelligence unveiled during Apple's WWDC2024 in Cupertino, Calif. on June 10th. Apple executives don't refer to this strategy as using one or multiple models, just "Apple Intelligence." Apple's AI can summarize and rewrite documents, generate small images, and translate conversations in real-time.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Apple, Federighi, Siri, Giannandrea, We're, we're, Apple's Organizations: Developers, AFP, Getty, Apple, Apple Intelligence, Microsoft, Google, Software, Nvidia, Apple Inc Locations: Cupertino , California, Cupertino , Calif

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