AI Computing Is on Pace to Consume More Energy than India, Arm Says
Arm sees AI as a key driver to its growth. The company stated in an earlier report that its AI proposition differs from other notable players.
Dow, Nasdaq, S&P 500 Had Their Worst Trading Days Since Last Year as Fed Signals No Rate Cuts
By Tolu Ajiboye
The stock market reacted negatively to the Fed Chair’s comment indicating that the apex bank was uninterested in rate cuts until after March.
IBM and Meta Unveil AI Alliance for Open-Source Development
IBM disclosed that the Alliance will support projects addressing benchmarks, evaluation standards, and the deployment of resources essential for the ethical use of AI systems on a global scale.
Deutsche Bank Economists Expect US Recession to Prompt 175 Basis Points in Fed Rate Cuts in 2024
By Tolu Ajiboye
Economists at Deutsche Bank foresee 175 basis points in rate cuts in 2024.
Nvidia Revenue for Q3 2024 Triples amid AI Boom but NVDA Stock Price Falls, Here’s Why
Amid exports restrictions on AI chips introduced by the US government, Nvidia expects a slowdown in the revenue growth in the ongoing Q4 quarter leading to a selling pressure on its stock.
S&P 500 and Nasdaq Record Their Longest Winning Rally Since November 2021
The Dow had the weakest performance among the three major indexes during Tuesday’s session, primarily due to several declining stocks.
US Treasury Yields Mixed as Market Anticipates October Jobs Report
By Tolu Ajiboye
As investors and analysts await the official jobs report for October, the 2-year and 10-year Treasury yields moved in opposite directions.
Stocks Rally after Fed Interest Rates Decision, BTC Price Tests $35,000 Level
By Tolu Ajiboye
There was a recorded rally among several stocks as the Federal Reserve decided that it would leave interest rates untouched.
AMD Reports Q3 2023 Financial Results, Gives Soft Q4 Guidance
By Darya Rudz
AMD hopes to generate about $400 million in sales from its graphics processing units for AI workloads in the fourth quarter2023, which will result in a rise to $2 billion in fiscal 2024.
Nvidia Reportedly Working on Arm-Based PC Chips
By Darya Rudz
The upcoming chips will enhance Microsoft’s efforts to help chip companies build Arm-based processors for PCs running on Windows as well as strengthen Nvidia’s position in competing with Apple.
AMD Acquires Nod.ai for Undisclosed Amount to Accelerate Its Optimized AI Solutions
Following the Nod.ai acquisition, AMD shares gained nearly 2 percent to add to the impressive YTD performance of more than 68 percent.
Saudi Arabia Working with China to Build Arabic-focused AI System
Saudi Arabia and Chinese universities to work on AceGPT, an Arabic-focused AI system based on Meta’s LlaMA2, designed as an AI assistant for Arabic speakers.
AMD Shares Surge Nearly 5% amid Praise from Microsoft CTO
The longstanding partnership between Microsoft and AMD has been a strategic alliance that has shaped the tech industry in various ways.
Arm Shares Rise 25% in IPO Debut on Nasdaq at Initial Price of $56
By Tolu Ajiboye
Arm has concluded its debut on the Nasdaq after launching an IPO where shares closed nearly 25% higher on the day.
AI Startup Hugging Face Secures New Funding from Google, Nvidia at $4.5B Valuation
Hugging Face provides various tools with AI code for data science hosting and development. The startup plans to use fresh funds for further expansion.