Good morning! This is your daily ☕️ Techpresso.
In today's Techpresso:
💥 Elon Musk's xAI raises $6B to build 'Gigafactory of Compute'
🔮 Apple bets that its giant user base will help it win in AI
💰 China invests $47 billion in largest ever chip fund
📊 GPT-4 surpasses humans in financial analysis
🎁 + 7 other news you might like
🔮 + 3 handpicked research papers and tools
💥 Elon Musk's xAI raises $6B to build 'Gigafactory of Compute'LINK
Elon Musk's xAI has successfully raised $6 billion in a Series B funding round to construct a supercomputer known as the 'Gigafactory of Compute,' which will be powered by 100,000 Nvidia H100 GPUs, making it at least four times larger than the largest existing GPU clusters. This funding will enable xAI to advance its product offerings, develop cutting-edge infrastructure, and accelerate research and development, with investors including Andreessen Horowitz, Sequoia Capital, and Saudi Prince Alwaleed bin Talal. The supercomputer will support the next iteration of xAI's chatbot, as xAI aims to create advanced AI systems that are truthful, competent, and maximally beneficial for humanity, continuing Musk's vision of a 'maximum truth-seeking AI' called TruthGPT.
🔮 Apple bets that its giant user base will help it win in AILINK
Apple is betting on its vast user base to give it an edge in the AI market, despite its first set of AI features not being as advanced as those from other competitors like Microsoft, Google, and OpenAI.
The company plans to introduce AI tools integrated into its core apps and operating systems, focusing on practical, everyday uses for consumers, with much of the AI processing done on-device and more intensive tasks handled via the cloud.
Apple's collaboration with OpenAI and potential agreements with Google indicate it is relying on partnerships to compete in the AI space while its own AI developments are still maturing, leveraging its extensive user base to rapidly scale the use of new AI features.
💰 China invests $47 billion in largest ever chip fundLINK
China has invested more than $47 billion into its largest-ever chip investment fund to pursue self-sufficiency in semiconductor manufacturing.
This significant investment reflects China's broader strategy to develop homegrown chipmakers amid rising technological competition with the United States.
The fund's third phase, supported by China's finance ministry and state-owned banks, marks the largest investment of its kind, surpassing the combined total of the previous two phases.
📊 GPT-4 surpasses humans in financial analysisLINK
New research from the University of Chicago shows that GPT-4 can analyze financial statements more accurately than humans, achieving a 60% accuracy rate compared to human analysts' 53-57% range.
The study indicates significant implications for the future of financial analysis, highlighting GPT-4's versatility in performing tasks usually reserved for specialized tools and stating its performance is on par with leading machine learning models.
While GPT-4 excels in quantitative analysis, human analysts provide valuable contextual insights, suggesting a complementary relationship between AI and humans for achieving optimal financial analysis results.
Other news you might like
Apple secures patent for 'digital stone' device: What is it.LINK
World's first bioprocessor uses 16 human brain organoids for ‘a million times less power’ consumption than a digital chip.LINK
OpenAI confirmed to power generative AI features on iOS 18, Google still in the reckoning: Report.LINK
Y Combinator’s Garry Tan supports some AI regulation but warns against AI monopolies.LINK
Airbus to build satellite that will predict the northern lights.LINK
Valve confirms your Steam account cannot be transferred to anyone after you die.LINK
How Netflix turned from chasing HBO to signing a deal with WWE.LINK
Latest research and tools
LlamaFS: a self-organizing file manager that automatically organizes files based on content, supporting batch and watch modes with privacy options through "incognito mode".LINK
Lessons from Formally Verified Deployed Software Systems: formally verified software systems are more reliable but require significant effort and expertise to develop.LINK
Berkeley report: researchers uncover a Chinese dataset with potential military applications.LINK
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