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☆ 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.

☆ Microsoft helping finance AMD's expansion into AI chips- Bloomberg
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

May 4 (Reuters) - Microsoft Corp (MSFT.O) is working with Advanced Micro Devices Inc (AMD.O) on the chipmaker's expansion into artificial intelligence processors, Bloomberg News reported on Thursday, citing people with knowledge of the matter. Shares of AMD climbed 9% on the news, while Microsoft shares were up about 1%. The software giant is providing financial support to bolster AMD's efforts, and working with the chipmaker on a homegrown Microsoft processor for AI workloads, code-named Athena, the report said. Several hundreds of employees working at a silicon division at Microsoft are now working on the Athena project, the report added. Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

But Nvidia has created variants of its chips for the Chinese market that are slowed down to meet U.S. rules. Even the slowed Nvidia chips represent an improvement for Chinese firms. The back-and-forth between government and industry exposes the U.S. challenge of slowing China's progress in high tech without hurting U.S. companies. Chip industry sources said that was an effective action. Some in the AI industry believe that is still plenty of speed.

☆ AMD's lackluster forecast sparks selloff in shares
▼ + stars: | 2023-05-03 | by ( Tiyashi Datta | ) www.reuters.com time to read: +2 min

The stock fell more than 6% in early trading and was set to erase nearly $9 billion in market value. Intel, whose shares rose last week on a more upbeat PC market outlook, gained more than 2%. The PC market has been in a slump for the past few quarters after a demand surge during the pandemic, while data center spending has also slowed as the economic outlook worsens. AMD, whose smaller and more efficient data center chips had helped it take market share from Intel last year, missed estimates for both PC and data center chip sales in the first quarter. "AMD results were more vulnerable (to the PC slump) than Intel's because most AMD-based PC customers were consumers.

☆ AMD beats on the top and bottom lines but is still a second-half story. Here's why
▼ + stars: | 2023-05-02 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The good news: Advanced Micro Devices (AMD) first-quarter beat on Tuesday revealed a likely bottom in its struggling PC business. The not-as-good: The chipmaker won't resume the kind of growth we're used to until the second half of the year. Here's why: Management sees some "modest" data center growth in the second quarter, but demand remains suppressed as a result of ongoing cloud optimization efforts. Outlook AMD provided an outlook for the second quarter of 2023 that was slightly below expectations. Ultimately management expects sequential growth in client and data center to be offset by "modest declines" in gaming and embedded.

☆ Samsung bans employees from using AI tools like ChatGPT and Google Bard after an accidental data leak, report says
▼ + stars: | 2023-05-02 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Samsung has banned employees from using ChatGPT in the workplace, per Bloomberg. Samsung has introduced a new policy banning employees from using generative AI tools like Open AI's ChatGPT and Google Bard in the workplace, Bloomberg reported Tuesday. Staff are now banned from using generative AI tools on company-owned devices including computers, tablets, phones, and internal networks, per Bloomberg. Tech giant Amazon similarly warned staff against using ChatGPT because of instances of the chatbot's responses resembling internal Amazon data, Insider's Eugene Kim reported in January. OpenAI, the company behind ChatGPT, introduced new measures in April to address concerns about managing data on the chatbot.

☆ Big Tech’s Rebound Plays to Individual Investors’ Growth-Stock Bets
▼ + stars: | 2023-04-30 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

Shares of large U.S. technology companies are powering the broader market higher again, vindicating many individual investors who bet big on growth stocks. Together, Advanced Micro Devices Inc., Google parent Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc., Microsoft Corp., Netflix Inc., Nvidia Corp. and Tesla Inc. comprise roughly a quarter of the S&P 500’s market cap, according to FactSet. That means they have an outsize influence on the direction of the major stock index.

[1/2] Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. Sanofi in 2009 acquired the rights to Auvi-Q, an epinephrine auto-injector intended to compete with EpiPen. Injection of epinephrine is used to treat serious and sometimes life-threatening allergic reactions to foods, medications, bee stings and other causes. Circuit Court of Appeals last July agreed, noting that the exclusive contracts in question were "a normal competitive tool within the epinephrine auto-injector industry." The 10th Circuit added that Sanofi could have competed on those terms, but instead chose initially to market Auvi-Q as a more expensive, premium product.

☆ Cutera fires CEO, stock tumbles and large investor speaks out
▼ + stars: | 2023-04-12 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

CEO David Mowry and activist investor J. Daniel Plants, who has served on the board for eight years, were terminated for alleged violations of their employment contracts, Cutera said. RTW Investments, Cutera's second biggest investor with a 9.3% stake, called on the company to reinstate Mowry and to hold a special meeting. Market reaction to Mowry's removal "demonstrates the need for the Special Meeting and the lack of confidence in the board," RTW said in a statement. Top Cutera executives, including the chief financial officer, on Tuesday supported Mowry and Plants, arguing the men work well together and had earned their trust. The California-based company, which sells devices including laser treatments for tattoo removal and acne, appointed independent board member Sheila Hopkins as interim CEO.

OAKLAND, California, March 29 (Reuters) - U.S. chip giant Intel Corp (INTC.O) said on Wednesday its first semiconductor for data center customers focused on power efficiency, Sierra Forest, would be delivered in the first half of next year, as it outlined a chip release schedule after prior delays. Intel still dominates the markets for PC and server processing chips, with a market share greater than 70%, tech research firm IDC has calculated. Intel said the next power-efficient chip, Clearwater Forest, would come to market in 2025. Rivera said that Intel was also working on building the Intel Developer Cloud with 256 Xeon chips and 512 Gaudi chips for artificial intelligence (AI) that would be available for AI developers to train and run new models. She said AI startups Hugging Face and Stable Diffusion were already using Intel chips.

☆ Batteries for hire could help Nigerians ditch their generators
▼ + stars: | 2023-03-22 | by ( Ollie Macnaughton | ) edition.cnn.com time to read: +4 min

As a result, many Nigerians rely on petrol and diesel to fuel the generators that power their homes and businesses. Fuel shortages were a key issue in Nigeria’s recent presidential election and have made it increasingly difficult to run generators. His company Reeddi rents out small, lightweight solar-powered batteries called “Reeddi Capsules” that can power devices including TVs, laptops and refrigerators. One Reeddi Capsule can power a TV for around five hours, or a 15-watt fan for 15 hours. Olubanjo says organizations in countries including Uganda, Ghana and South Africa have expressed an interest in the Reeddi Capsule.

Persons: Olugbenga, Reeddi, Prince William’s Earthshot, Prince, Wales, ” Reeddi, Prince William's Earthshot, “, Olubanjo, ”, Joel Jewell, We’re, Anita Otubu, – Organizations: CNN, International Energy Agency, University of Ibadan, University of Toronto, “, Reeddi, Mobile Power, Sustainable Energy, –, UN Locations: Nigeria, Canada, Ogun State, Lagos, Uganda, Ghana, South Africa, Africa, Zambia

☆ These 74 stocks across 5 categories of AI are the top picks from the sector's leading fund managers.
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

☆ U.S. reviewing China's Inspur Group entity listing
▼ + stars: | 2023-03-07 | by ( Karen Freifeld | ) www.reuters.com time to read: +1 min

March 7 (Reuters) - The United States is reviewing China's Inspur Group Co Ltd's entity listing and will update it as appropriate, a spokesperson for the U.S. Department of Commerce said. The United States last week added Inspur to its trade blacklist for allegedly acquiring U.S.-origin items in support of the China's military modernization efforts. The listing means that companies cannot sell Inspur items like semiconductors, which are made with U.S. tools, unless they apply for and get licenses, which are likely to be denied. Nvidia Corp (NVDA.O), Advanced Micro Devices Inc (AMD.O) and other U.S. firms are racing to assess whether they must halt sales to units of China's Inspur Group Ltd after its addition to the list. Reporting by Karen Freifeld; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

March 7 (Reuters) - Nvidia Corp (NVDA.O), Advanced Micro Devices Inc (AMD.O) and other tech firms are scrambling to assess whether they must halt sales to units of China's Inspur Group Ltd after its addition to a U.S. export blacklist last week. The United States last week added Inspur to its trade blacklist for allegedly acquiring U.S.-origin items in support of the China's military modernization efforts. Executives from AMD and Nvidia were questioned about dealings with Inspur Group Co Ltd. at an investor conference on Monday. An Nvidia spokesperson declined to comment beyond her remarks. An AMD spokesperson did not return a request for additional comment on AMD Chief Technology Officer Mark Papermaster's remarks made at the same conference.

☆ Huawei spin-off Honor takes aim at Samsung in foldables; shrugs off U.S. sanction concerns
▼ + stars: | 2023-03-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The Honor Magic Vs is on display at Honor's stand at Mobile World Congres in Barcelona. The near $1,700 device is Honor's attempt to challenge Samsung in the foldable smartphone market. Honor takes aim at Apple and SamsungHonor launched its Magic Vs foldable phone outside of China this week, with a price tag of nearly $1,700. Honor had a large poster for the Magic Vs with the tagline: "Unfold your magic." "Our ambition and target is develop the best foldable phone, so be the number one technology for foldable phones.

☆ In the Whirl of ChatGPT, Startups See an Opening for Their AI Chips
▼ + stars: | 2023-02-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

Generative AI and large language models like OpenAI’s ChatGPT require massive amounts of computing power to run, and typically rely on chips like Nvidia’s graphics-processing units, or GPUs, that are specialized for these types of calculations. Graphcore sells primarily to AI startups looking to build and train models at lower cost, he said, and the company is benefiting from the proliferation of those startups. Shane Rau, who leads International Data Corp.’s semiconductor research, said chip startups are increasingly pivoting to focus their products on supporting large language models. Still, he added, “you’re going to see a combination of real adaptation and marketing.”“There will be the pressure to say: ‘Hey, we’re already relevant, our AI chip technology’s already relevant to generative AI’,” said Mr. Rau. Some chip makers say they expect yet another surge in demand once businesses more widely adopt generative AI.

☆ Wall St set for higher open as Nvidia outweighs Fed jitters
▼ + stars: | 2023-02-23 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

Futures cut some gains after data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week. "Markets are tracking the earnings reports overnight from Nvidia," said Robert Pavlik, senior portfolio manager at Dakota Wealth. ET, Dow e-minis were up 39 points, or 0.12%, S&P 500 e-minis were up 15 points, or 0.38%, and Nasdaq 100 e-minis were up 106.25 points, or 0.88%. Analysts polled by Reuters predict a correction within the next three months even though they expect the S&P 500 (.SPX) to climb 5% by year-end. Moderna Inc (MRNA.O) fell 4.4% after the vaccine maker reaffirmed its annual sales forecast of $5 billion for its COVID-19 vaccines despite its fourth-quarter sales exceeding estimates.

☆ Fact Check-Oral cancer has been rising for decades in the UK, not result of COVID swabs
▼ + stars: | 2023-02-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Mouth cancer rates in Britain have been rising for two decades, with an all-time high of diagnoses likely a result of lifestyle factors, oral health experts told Reuters. This is contrary to claims shared online that COVID swab tests have caused an increase in oral cancer. One social media user spreading the falsehood here wrote: “Mouth cancer has hit an all time high! The Oral Health Foundation cites tobacco, alcohol and human papillomavirus (HPV) as the most common causes of mouth cancer (here). Oral cancer rates in Britain have been rising for at least two decades and there is no evidence a record high number of diagnoses are a result of COVID-19 swabs.

☆ AMD wins nearly a third of processor market, Arm's climb slows, analyst report
▼ + stars: | 2023-02-09 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Advanced Micro Devices Inc (AMD.O) has captured nearly a third of the market for central processor units while British chip technology firm Arm Ltd's rise in the PC market slowed in the fourth quarter of 2022, according to an analyst report. In the fourth quarter, Intel had 68.7% market share for x86 processors versus AMD's 31.3%, which was up from 28.5% a year earlier, according to Mercury Research. But the PC sales slump has also affected Apple Inc's (AAPL.O) Mac computer lineup, which is the leading source of sales for Arm-based PC chips. Mercury said Arm PC chips, led by Apple's in-house chips but also joined by Qualcomm Inc's (QCOM.O) recent PC chips for Windows machines, now have 13.3% share of the market PC chips, down from 14.6% a quarter earlier but still up from 10.3% share a year ago. Reporting by Stephen Nellis in San Francisco; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ The AI craze has sent some stocks soaring up to 300%. This list of over 74 stocks across 5 categories features the top picks from the sector's leading fund managers.
▼ + stars: | 2023-02-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after rapid increases in 2022 to tame decades-high inflation. That's the Fed's issue as they finish up their two-day policy meeting today," Turnquist added. All of the 11 major sectors on the S&P 500 were down, with technology shares (.SPLRCT) falling the least. Seventy percent of the 200 companies in the S&P 500 that have reported fourth-quarter earnings have topped Wall Street expectations. Analysts now see earnings of S&P 500 firms declining 2.4% for the quarter, per Refinitiv estimates.

Investors will also parse Chair Jerome Powell's news conference for clues on the trajectory of future rate hikes. All of the 11 major sectors on the S&P 500 were down, with the technology shares (.SPLRCT) falling the least. Dow component Amgen Inc (AMGN.O) slipped 3.7% as the drugmaker said its fourth-quarter revenue fell slightly. With nearly 200 companies in the S&P 500 having reported fourth-quarter earnings, about 70% have topped Wall Street expectations. Analysts now see earnings of S&P 500 firms declining 2.4% for the quarter, per Refinitiv estimates.

Investors will also parse Chair Jerome Powell news conference for clues on the trajectory of future rate hikes. Meanwhile, the ADP National Employment report showed that private payrolls increased by 106,000 in January, lower than expectations of 178,000 additions. Snap Inc (SNAP.N) tumbled 12.5% after the social media company said it expects current-quarter revenue to decline by as much as 10%. ET, Dow e-minis were down 138 points, or 0.4%, S&P 500 e-minis were down 9.75 points, or 0.24%, and Nasdaq 100 e-minis were down 8.25 points, or 0.07%. Dow Jones Industrial Average component (.DJI) Amgen Inc (AMGN.O) dipped 0.6% as the drugmaker said its fourth-quarter revenue fell slightly.

☆ AMD’s Profit Plunges Amid Weaker PC Sales
▼ + stars: | 2023-02-01 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Advanced Micro Devices Inc. reported Tuesday a 98% decline in net income for the fourth quarter as operating expenses more than doubled and sales linked to its PC clients were cut in half. The Santa Clara, Calif.-based chip maker, whose central processing units are used to build videogame consoles and gaming PCs, said net income for the period fell to $21 million, or 1 cent a share, from $974 million, or 80 cents a share, for the same period a year earlier. The company said the decline was mostly linked to its acquisition of semiconductor company Xilinx Inc.

☆ Intel slashes employee, exec pay amid PC market downturn
▼ + stars: | 2023-02-01 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Jan 31 (Reuters) - Intel Corp (INTC.O) said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by a loss of market share to rivals and a PC market downturn. Intel last week said its profit margins were plunging as the PC market cools after several years of growth during the pandemic. The company has also lowered its 401(k) matching program from 5% to 2.5% and suspended merit raises and quarterly performance bonuses, the person said. Annual performance bonuses based Intel's overall financial performance will remain but those bonuses have been smaller in recent years as the company has lost ground to rivals, the person added. Reporting by Stephen Nellis in San Francisco; Editing by Christopher Cushing and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

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