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- 🤖 Microsoft Hits $3 Billion Market Cap
🤖 Microsoft Hits $3 Billion Market Cap
PLUS: Google Cuts Ties With AI Contractor
James Roesser
January 25, 2024
Welcome back AI enthusiasts!
In today’s AI Report:
📈Microsoft Hits $3 Billion Market Cap
✂️Google Cuts Ties With AI Contractor
🛠5 Trending Tools
💰Venture Capital Updates
💼Who’s Hiring?
Read Time: 3 minutes
🗞RECENT NEWS
MICROSOFT
📈Microsoft Hits $3 Billion Market Cap
Image Source: Gonzalo Fuentes/REUTERS
On Wednesday, Microsoft’s stock market value crossed the $3 trillion milestone by leveraging the generative AI boom to enhance user offerings.
Key Details:
Here are Microsoft’s top five AI events of 2023:
January 27th: Microsoft invests $10 billion in OpenAI.
March 17th: OpenAI debuts the GPT-4 model.
July 18th: Azure Cloud Services adds pre-trained AI models for developers to build intelligent applications.
November 1st: Microsoft launches Copilot, an AI assistant that integrates across Microsoft 365 applications like Word, Excel, Outlook, and Teams.
November 15th: Microsoft releases Azure AI Studio, an all-in-one platform for building, evaluating, and deploying generative AI solutions.
Stifel analyst Brad Reback explained: “I think it’s AI optimism for Microsoft. Apple doesn’t seem to have the same clear AI story.”
Why It’s Important:
Microsoft capitalized on the generative AI craze by partnering with Sam Altman and integrating OpenAI’s GPT-4 model into existing products like Bing’s search engine.
The technology giant’s investment in OpenAI enhanced existing products, developed new user offerings, and secured talent and resources.
🩺 PULSE CHECK
Which company will benefit the most from AI this year?Vote Below to View Live Results |
✂️Google Cuts Ties With AI Contractor
Image Source: Mateusz Wlodarczyk/Nurphoto/Getty Images
Google terminated its contract with Appen, the data firm that helped train Google’s conversational chatbot called Bard.
Key Details:
Appen employs over a million contractors across 170 countries to label data for training AI models.
The data firm has an impressive client list that includes Microsoft, Apple, Meta, Google, and Amazon.
In 2023, Appen earned $82.8 million in revenue from Google’s partnership, or nearly 35% of the company’s revenue.
After a “strategic review process,” Google terminated Appen’s contract after years of weak quality control and a disjointed organizational culture.
Google’s employee union confirmed the decision will impact at least 2,000 subcontracted employees.
Why It’s Important:
Despite Appen’s impressive client list, the company has struggled with customer losses, executive departures, and plummeting financials in recent years.
Even as generative AI tools increased the demand for training data, Appen’s revenue dropped 30% in 2023.
🛠TRENDING TOOLS
👷♀️KPI Builder helps founders identify the most relevant and impactful KPIs for their business.
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🧰Browse our always Up-To-Date AI Tools Database.
💰VENTURE CAPITAL UPDATES
AiDash raises $50M to identify wildfire risks through satellites.
Plural, the VC led by founders, creates a $432M fund to back European startups.
TravelPerk secures $104M in funding to ease corporate travel woes.
💼WHO’S HIRING?
NVIDIA (Austin, TX): Software Sales Intern, OEM/Strategic Accounts, Summer 2024
Western Digital (Irvine, CA): Software Engineer Intern, Firmware, Summer 2024
Netflix (Los Angeles, CA): Social Marketing Intern, Summer 2024
🤖PROMPT OF THE DAY
BRAINSTORMING
💭New Products
Imagine you’re a product design consultant. Based on current market trends in [Niche Market], suggest innovative features I can incorporate into my [Product].
Niche Market = [Insert Here]
Product = [Insert Here]📒FINAL NOTE
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