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- 🤖 Big Tech’s Plan to Weaken Nvidia’s AI Foothold
🤖 Big Tech’s Plan to Weaken Nvidia’s AI Foothold
PLUS: Stability AI CEO Resigns Amidst Chaos, Enterprises are Building and Buying GenAI?
James Roesser
March 26, 2024
Welcome back AI enthusiasts!
In today’s AI Report:
🤯Big Tech’s Plan to Weaken Nvidia’s AI Foothold
🧨Stability AI CEO Resigns Amidst Chaos
🏗Enterprises are Building and Buying GenAI?
🛠5 Trending Tools
💰Venture Capital Updates
💼Who’s Hiring?
Read Time: 3 minutes
🗞RECENT NEWS
NVIDIA
🤯Big Tech’s Plan to Weaken Nvidia’s AI Foothold
Image Source: Sikarin Fon Thanachaiary/World Economic Forum
According to Reuters, a coalition of technology companies, including Intel, Google, and Qualcomm, plan to weaken Nvidia’s foothold in the AI market.
Key Details:
Nvidia earned its $2.2 trillion market cap by developing GPUs, processors, and platforms designed to run AI applications efficiently.
The global computing powerhouse is powering the new era of generative AI developers, from startups to established companies like Microsoft, OpenAI, and Google.
More than 4 million global developers rely on Nvidia’s CUDA software platform to build and deploy AI tools.
A coalition of technology companies called the Unified Acceleration Foundation (UXL) is developing an open-source software suite that prevents AI developers from being locked into Nvidia’s proprietary technology.
Google’s director and chief technologist of high-performance computing explained: “In the context of machine learning frameworks, how do we create an open ecosystem and promote productivity and choice in hardware?”
Why It’s Important:
UXL’s software suite offers an open-source alternative to Nvidia’s technology, leading to more competition in the AI hardware market, which drives down prices and equips developers with more bargaining power.
If developers are given more options on what hardware they can access to build and deploy AI tools, this will create more diversity and flexibility in the AI development process.
🩺 PULSE CHECK
Will UXL’s open-source software suite affect Nvidia’s dominance in the AI hardware market?Vote Below to View Live Results |
STABILITY AI
🧨Stability AI CEO Resigns Amidst Chaos
Image Source: Cheri Tran Snaps/Newcomer
Stability AI founder and CEO Emad Mostaque resigned from his role and his position on the Board of Directors to pursue decentralized AI.
Key Details:
Mostaque announced that he stepped down to pursue decentralized AI developments, arguing that the concentration of power in the industry is “bad for us all.”
His decision follows a string of high-level research member departures and investor pressure from Coatue Management and Lightspeed Venture Partners. As of October 2023, the startup reportedly burned through $8 million a month.
The Board of Directors has appointed Chief Operating Officer (COO) Shan Shan Wong and Chief Technology Officer (CTO) Christian Laforte as the interim co-CEOs of Stability AI.
Why It’s Important:
Mostaque clarified his decision to step down on X: “We should have more transparent and distributed governance in AI.” He also noticed the company had a “strange focus on revenue.”
Stability AI has been leading open-source generative AI multimodal models that produce photorealistic images from text and image prompts. The reported high burn rate and departure of influential research members raise concerns about the company’s stability.
AI RESEARCH
🏗Enterprises are Building and Buying GenAI?
Researchers from Andreessen Horowitz (a16z) published a report analyzing the revenue potential for large enterprises to integrate GenAI models into workflows and product offerings.
a16z surveyed dozens of Fortune 500 companies and 70 top enterprise leaders to understand how they use, buy, and budget for generative AI.
The survey identified these five critical insights:
Enterprise spending on language models averaged $7 million in 2023, with up to 5X budget increases planned for 2024 company roadmaps.
Various enterprises justified an 8X AI budget increase after achieving 90% cost savings from AI models in 2023.
While 90% of enterprises leveraged closed-source AI models in 2023, 46% of leaders now prefer open-source AI models.
Internal use cases (e.g., coding assistants or text summarization) are growing faster than external use cases (e.g., universal conversational chatbots) as enterprises navigate hallucinations.
Enterprises are tripling their budgets and expanding the use cases deployed on smaller open-source models.
🛠TRENDING TOOLS
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🔮Browse our always Up-To-Date AI Tools Database.
💰VENTURE CAPITAL UPDATES
Redcoat AI emerges from stealth with $4.24M to revolutionize cybersecurity in the GenAI era.
Cogna’s AI-powered SaaS raises $4.7M to improve industry problem-solving.
Accenture’s $1B LearnVantage platform tackles the growing AI skills gap.
💼WHO’S HIRING?
🤖PROMPT OF THE DAY
RELEVANCE
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