VanEck: Bitcoin miners could earn $13.9 billion annually from 20% AI and high-performance computing energy transfer
On August 18th, VanEck stated in a report that "AI companies need energy, and Bitcoin miners have energy." The company believes that Bitcoin mining companies face profit risks due to operational cost fluctuations and Bitcoin price volatility, and they may find it a good strategy to redirect some of their energy production capacity to the growing fields of AI and high-performance computing. VanEck stated, "The balance sheets of Bitcoin mining companies are usually poor, either because of too much debt, too many stocks issued, high executive salaries, or a combination of all three." VanEck estimates that if publicly traded Bitcoin mining companies shift 20% of their energy production capacity to AI and high-performance computing by 2027, "the total additional annual profit over the 13 years will average more than $13.9 billion."
African Union approves adoption of artificial intelligence by member states
The African Union (AU) Executive Council approved the "African Continental Strategy for Artificial Intelligence", which aims to promote the adoption of artificial intelligence in both public and private sectors, including Nigeria. The approved strategy outlines several key recommendations, including establishing integrated hardware and software environments designed specifically for AI and machine learning workloads to facilitate data processing and deployment. The strategy also emphasizes the establishment of AI governance systems, promoting the adoption of AI in the public sector, and incorporating AI into key areas outlined in the 2063 Agenda and Sustainable Development Goals.
Nvidia delays next gen AI chip as investors issue ‘bubble’ warning
After briefly breaking the $3 trillion market capitalization mark in June, things have taken a negative turn for the world’s most valuable chipmaker.
TSMC becomes first Asian company to reach $1T as AI demand surges
The company is now worth more than Broadcom and closing in on Meta.
Softbank CEO says company’s purpose is to create ‘artificial super intelligence’
Billionaire finance mogul Masayoshi Son also said that AI will be 10,000X smarter than humans by 2035.
In the past four days, AO platform pre-bridged 260 million US dollars of stETH, and TVL exceeded 200 million US dollars
Sam Williams, the founder of Arweave and AO, announced yesterday in a post on X that $260 million worth of stETH has been pre-bridged to the Arweave-based AI application computing protocol AO, pushing it to become the 28th largest DeFi protocol in the past four days. Williams stated that AO's TVL is now equivalent to Cardano ($209.43 million), surpassing major blockchain projects such as zkSync, Fantom, Scroll, Algorand, Filecoin, and ICP.
Apple Halts Rollout of AI Features in Europe Due to Regulatory Uncertainties
Apple has announced that it will not be rolling out its suite of AI tools, branded as "Apple Intelligence," in the European Union due to regulatory uncertainties brought about by the Digital Markets Act (DMA). The DMA targets large digital platforms and aims to ensure fair and competitive digital markets. Violating the act could result in fines of up to 10% of the offending company's worldwide annual revenue. Apple said it is concerned that the interoperability requirements of the DMA could force it to compromise the integrity of its products in ways that risk user privacy and data security.
Vitalik Buterin endorses TiTok AI for onchain image storage
TiTok AI, a new method for efficient onchain image compression, could be a useful tool for blockchain applications.
Apple supercharging Siri and iOS with ‘Apple Intelligence’ and OpenAI
Social media and tech news pundits haven’t responded positively to the nomenclature.
Elliptic: Utilization of Artificial Intelligence in Cryptocurrency Crime Rises Significantly
Artificial intelligence (AI) is increasingly being used for crime in the cryptocurrency ecosystem. The report states that criminals are increasingly using generative AI to create deepfakes and other fraudulent materials to carry out crypto scams.
