Apple's Worldwide Developers Conference (WWDC) is scheduled for June 10th, where the company is expected to focus on AI advancements, including generative artificial intelligence. Rumors suggest that Apple has been investing heavily in AI training and may be seeking partnerships with other companies for cloud-based AI features while keeping its generative features on-device. The event is also anticipated to feature announcements for updates to iOS, iPadOS, macOS, watchOS, and potential new hardware such as AirPods models and updated AirPods Max headphones.
Nvidia reached a $2 trillion market valuation for the first time, driven by the soaring demand for its chips in the generative artificial intelligence sector. The company's rapid ascent has drawn comparisons to the gold rush era, and its shares have surged nearly 60% this year, contributing to the S&P 500's gains. Nvidia's latest market-beating forecast of a 233% growth in first-quarter revenue has attracted widespread attention from analysts and investors, with leading cloud computing companies expected to boost their capital expenditure to satisfy the demand for AI training and inference, further benefiting Nvidia.
CNBC's Jim Cramer believes that the generative artificial intelligence (AI) trend is just beginning and that stocks associated with AI have more room to grow. He points to Amazon CEO Andy Jassy's statement that generative AI will bring in billions of dollars for the company as enterprises shift to the cloud. Cramer suggests that any pullback in AI stocks will likely be met with buying, as the potential of AI is still in its early stages. He highlights Microsoft, which owns half of OpenAI, as a leader in the AI space, along with Amazon and Nvidia. Cramer concludes that the AI trend is far from over and is just getting started.
SAG-AFTRA has released the full contract terms that ended the actors strike, urging members to vote yes by the Dec. 5 ratification deadline. The deal, praised as groundbreaking, includes provisions on generative artificial intelligence. Some members are concerned that the AI protections don't go far enough to protect jobs. However, the likelihood of a majority rejecting the contract seems slim after the significant financial and workplace gains achieved during negotiations. If approved, the agreement will run from Nov. 9, 2023, through June 30, 2026.
HP Enterprise reported strong earnings, fueled by robust growth in its networking business and rising demand for high-performance computing and generative artificial intelligence hardware and services.
Blizzard Entertainment is training an image generator on assets from its hit titles, including World of Warcraft, Diablo, and Overwatch, to produce concept art for new ideas. The studio hopes that generative artificial intelligence can cut out some design and development drudgery and make the creation of video games more fun. Other game developers are also relying on artificial intelligence to speed up the creative process in a labor-intensive industry plagued by delays. However, some researchers warn of copyright abuses, job displacement, and the potential to help the spread of false information.
IAC Chairman Barry Diller warns that the media industry needs to take action against generative artificial intelligence, or risk repeating the same mistake made with the rise of the internet. Diller suggests that publishers should sue under copyright law and take a mass position against scraping content. He also comments on the current state of Hollywood, stating that the leadership of the Hollywood studios is too old and out of touch. Diller dismisses the Dominion defamation suit against Fox News as not being particularly impactful to the company.
A new study by researchers at the University of Pennsylvania and OpenAI found that at least half of accounting tasks could be completed much faster with generative artificial intelligence (AI) technology. The same was true for mathematicians, interpreters, writers, and nearly 20% of the US workforce. The study highlights the potential impact of AI on various professions and industries.
Microsoft and Google are competing for dominance in the emerging field of generative artificial-intelligence applications on PC desktops. This marks the second round of their ongoing battle.
