Oxford quantum computing spinout announces $100M funding round led by Japan’s SBI
Oxford University physics spinout Oxford Quantum Circuits (OQC) recently announced the launch of Toshiko, a 32-qubit quantum computing services platform, alongside a $100-million Series B funding round led by Japan’s SBI Group’s investment arm.The company claims that Toshiko is ...
Nvidia posts record $18B third quarter revenue, cites generative AI as primary driver
Nvidia announced third-quarter revenue for 2023 of $18.12 billion, a company record, as the firm’s market cap now reaches $1.22 trillion.The better-than-expected earnings follow a 12-month growth trend, during which the company saw earnings increase by 34% over the last quarter and 206% ov ...
Microsoft, Salesforce, and Nvidia swoop in to hire OpenAI employees as walkout threats increase
OpenAI’s decision to fire CEO Sam Altman may have put the company’s future in jeopardy. Reportedly, a lion’s share of its employees have threatened to walkout unless the ousting is reversed. Complicating matters further, a number of executives from big tech orgnaniza ...
Microsoft and Nvidia stocks reach all-time highs amid OpenAI CEO shuffle
Microsoft (MSFT) stocks hit an all-time high of $378.81 on Nov. 20 on the back of a tumultuous weekend for the AI sector involving the ousting of OpenAI CEO and co-founder Sam Altman. Not to be outdone, Nvidia (NVDA) stocks also reached an all-time high of $499.60, continuing a trend that’s ...
China AI chip market finds expansion paths despite US export restrictions
The Chinese artificial intelligence (AI) chip market has been subject to ongoing export restrictions which imposed by the United States from October 2022, which prohibited the sale of certain U.S. products to China. The U.S. initially blocked the export of the highest level of chips p ...
‘Magnificent seven’ tech stocks tumble a whopping $280B as crypto surges
More than $280 billion has been wiped from the “magnificent seven” tech stocks following the release of several earnings reports on Oct. 25, triggering fears of a looming tech recession.The so-called “magnificent seven” refers to the top seven blue-chip tech firms i ...
US expands export controls for AI semiconductor chips to China
The United States Department of Commerce’s Bureau of Industry and Security (BIS) released a notice on Oct. 17 expanding the already existing export controls of artificial intelligence (AI) chips to China. The BIS wrote that the newly released rules “reinforce” those put in place back ...
Tenstorrent and Samsung Partner to Revolutionize AI Chip Production
Canadian startup Tenstorrent has entered into a partnership with Samsung's chip manufacturing division, marking a significant development in the AI chip industry. The collaboration aims to bring the next generation of AI chiplets to market, revolutionizing chip production for data centers. The partn ...
US regulators deny blocking AI chip exports to Middle East
The United States Department of Commerce said on Aug. 31 that the Biden administration has “not blocked chip sales to the Middle East,” according to a report from Reuters. This comes after disclosures were revealed in a Nvidia report that the U.S. government had expanded requirements ...
US officials extend export curbs on Nvidia AI chip to ‘some Middle Eastern countries’
Regulators in the United States have asked Nvidia to curb exports of artificial intelligence (AI) chips to “some Middle East countries,” according to its latest quarterly report. The report was released on Aug. 28, in which the company said the new regulations affect its A100 and H100 ...
Iris Energy buys 248 Nvidia GPUs worth $10M for generative AI & Bitcoin mining
Nasdaq-listed Iris Energy has bought 248 state of the art Nvidia H100 GPUs for $10 million as it looks to explore opportunities in generative AI in addition to its core business focus on Bitcoin mining.The firm expects to receive delivery of the 248 GPUs in the coming months and plans to d ...
Nvidia’s Soars 10% on Q2 Earnings Beat and Strong AI Chip Demand
Shares of computer chip manufacturer Nvidia soared nearly 10% in after-hours trading as surging demand for AI chips saw the firm post Q2 earnings that significantly beat Wall Street estimates. In its Q2 earnings report, the company posted a whopping $13.5 billion in revenue for the quarter — an 8 ...
Crypto Biz: Six months on from FTX, Tether mines BTC, and Nvidia’s AI superchips
Just over six months after FTX’s dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to other crypto businesses drained liquidity from the industry and prolonged the crypto winter, with Silvergate Bank, BlockFi and Genesis Global ...
Tech Giant Unveils Processor with Embedded Intelligence, AI-Related Tokens Rise
The tech giant unveiled a processor with embedded intelligence After news like this, AI-related tokens rose NVIDIA unveiled the DGX GH200 artificial intelligence supercomputer. Such chips have built-in generative AI, which responds to user requests and can cre ...
Nvidia CTO Believes Cryptocurrencies Are Useless for Society
According to the CTO of Nvidia, Michael Kagan, cryptocurrencies offer no useful contributions to society, despite the company continuing to sell its processors to miners. Kagan believes that a chat bot with artificial intelligence, such as ChatGPT, would be far more beneficial than cryptocurrency ...