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- 🤖 OpenAI Meets With Chip Giants in South Korea
🤖 OpenAI Meets With Chip Giants in South Korea
PLUS: Microsoft’s Bet on AI = High Quarterly Revenue?, X Corp. Granted $10M Tax Break for Data Centers
James Roesser
January 31, 2024
Welcome back AI enthusiasts!
In today’s AI Report:
🤝OpenAI Meets With Chip Giants in South Korea
🎰Microsoft’s Bet on AI = High Quarterly Revenue?
🔋X Corp. Granted $10M Tax Break for Data Centers
🛠5 Trending Tools
💰Venture Capital Updates
💼Who’s Hiring?
Read Time: 3 minutes
🗞RECENT NEWS
OPENAI
🤝OpenAI Meets With Chip Giants in South Korea
Image Source: Yoan Valat/Pool/REUTERS
OpenAI CEO Sam Altman visited South Korea to meet with Samsung and SK Hynix about forming a semiconductor alliance that produces specialized computer hardware.
Key Details:
Altman reportedly toured a Samsung factory and met with executives to discuss the potential “collaboration and investment” in AI chip production.
Samsung and SK Hynix are at the forefront of high-bandwidth memory, a crucial component for AI systems.
Altman recently visited Middle Eastern investors and Taiwanese manufacturers to explore a worldwide network of semiconductor factories.
Why It’s Important:
If OpenAI forms alliances with hardware titans, it ensures computing capacity keeps pace with ambitious software goals, removing computational constraints on innovation.
MICROSOFT
🎰Microsoft’s Bet on AI = High Quarterly Revenue?
Image Source: Carlos Barria/File Photo/REUTERS
Microsoft announced its second-quarter earnings on Tuesday, beating revenue expectations and year-over-year net income predictions.
Key Details:
The software giant earned $62 billion in revenue, up 18% from the previous year, surpassing expected earnings of $61.1 billion.
The company’s year-over-year net income rose 33% to $21.9 billion.
Microsoft CEO Satya Nadella explained: “We’ve moved from talking about AI to applying AI at scale. We’re winning new customers by infusing AI across every layer of our technology stack.”
Why It’s Important:
Microsoft recently surpassed Apple as the world’s most valuable company after becoming the second business to reach a stock market valuation of $3 trillion.
Microsoft is currently the leading player in the realm of AI through strategic partnerships with OpenAI, Builder.ai, and Synthetaic.
🩺 PULSE CHECK
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ELON MUSK
🔋X Corp. Granted $10M Tax Break for Data Centers
Image Source: John Raoux/AP
Elon Musk’s X Corp. was granted a $10 million tax break to keep its data center hardware in Atlanta, Georgia.
Key Details:
The Development Authority of Fulton County (DAFC) granted a 10-year tax break on a $700 million project to build data centers in Fulton County.
X estimates the project will provide $241 million in economic impact, with Fulton Country anticipating $16 million in new taxes for local communities.
In April, Elon Musk’s venture, xAI, purchased 10,000 GPUs to fuel X Corp. and Tesla AI projects.
Why It’s Important:
This tax break incentivizes Musk to produce data centers tailored to improve Large Language Models (LLMs) by training vast amounts of text data to identify patterns.
X Corp.’s project will boost the community economically, creating jobs and stimulating local businesses. Georgia’s tax break signals that the state is supportive of technology companies.
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🔮Browse our always Up-To-Date AI Tools Database.
💰VENTURE CAPITAL UPDATES
Kore.ai, a startup building conversational AI for enterprises, raises $150M.
Rebellions lands $124M to develop its new AI Rebel chip with Samsung.
AMD Q4 revenues grow to $6.2B, but FY23 revenue is down 4%.
💼WHO’S HIRING?
🤖PROMPT OF THE DAY
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