Inflection AI Raises $1.3 Billion in Funding Round Led by Microsoft and Nvidia, Valuation Reaches $4 Billion
June 29 (Cointime) - Inflection AI, a Palo Alto-based startup founded by Mustafa Suleyman and Reed Hoffman, has raised $1.3 billion in a funding round led by Microsoft and Nvidia, bringing its valuation to $4 billion.
Billionaire Investors Optimistic About AI, Bearish on Cryptocurrencies
June 15 (Cointime) - Several billionaire investors, including Stanley Druckenmiller and Dawn Fitzpatrick, are optimistic about the transformative power of artificial intelligence (AI). Druckenmiller has compared the impact of AI to that of the internet revolution and remains confident in AI-related firms like Nvidia, despite concerns about overvaluation.
Microsoft Agrees to Billions of Dollars in Cloud Computing Infrastructure from CoreWeave
Microsoft has agreed to potentially spend billions of dollars over multiple years on cloud computing infrastructure from startup CoreWeave, according to sources.
Nvidia Briefly Becomes a $1 Trillion Company As Demand for AI Tech Surges
Nvidia briefly reached a market capitalization of $1 trillion due to high demand for artificial intelligence (AI) technology, making it one of only four companies in the United States to achieve this milestone.
Nvidia Hits $1 Trillion Market Cap, Surpasses Bitcoin’s Market Cap
Nvidia's market cap reached $1 trillion as the market opened, with a share price of $406, marking a 183% increase year-to-date. Prior to the market opening, the company's market cap was at $963 billion, already placing it among the top ten assets in the world by market cap. Meanwhile, Bitcoin currently holds twelfth place with a market cap of $541 billion. CryptoSlate's latest market report examines the history of US debt and the potential impact of a default on the crypto market.
Ark Invest’s Cathie Wood Justifies Exit From Nvidia Due to Stretched Valuations
Cathie Wood, the manager of the ARK Innovation ETF, has justified her fund's exit from Nvidia earlier this year, stating that the chipmaker has been priced "ahead of the curve". Nvidia's stock has more than doubled since ARKK exited in January 2023, and is now trading at 25 times the estimated sales for the current financial year. However, some analysts believe that the outlook for chips isn't quite picking up yet amid tepid demand for consumer electronics. Nvidia's co-founder, Jensen Huang, recently unveiled a number of AI products at the Computex trade show, including an AI supercomputer platform called DGX GH200.
MediaTek and Nvidia Collaborate to Enhance AI In-Cabin Experience in Affordable and Luxurious Automobiles
Taiwan's MediaTek has teamed up with US chip giant Nvidia to bring enhanced AI technology to automobiles. The partnership aims to improve in-car experiences with software-defined, smart cabin solutions using Nvidia's GPU chiplets. The collaboration will offer a unique platform for the compute-intensive, software-defined vehicle of the future. The end feature will raise the bar in automobile in-car user experience by combining Nvidia's GPUs and AI technology with MediaTek's chipsets. The automotive AI offering would belong to the MediaTek Dimensity Auto range.
Nvidia Unveils Next-Generation AI Supercomputer DGX GH200 at Computex 2023
Nvidia CEO Jensen Huang announced the development of the DGX GH200 supercomputer at the Computex expo in Taiwan. The supercomputer is designed to assist companies in creating generative AI models, which is a growing trend in the industry. The DGX GH200 is expected to be completed by the end of the year and features an NVLink Switch System that allows 256 GH200 Grace Hopper Superhips to work together as a single graphics processing unit, delivering 1 exaflop performance and 144 terabytes of shared memory. The DGX GH200 has caught the attention of major tech companies like Meta, Microsoft, and Google Cloud, who are expected to be early adopters of the solution.
Tech Stocks Soar on AI Hype, But Some Investors Question Overvaluation
NVIDIA's stock has hit a record high due to strong earnings and the potential of AI. However, some investors are concerned about its high price-earnings ratio and other metrics. Other tech stocks, including Amazon, Apple, Google, Meta, Microsoft, and Tesla, have also seen gains, but not to the same extent as NVIDIA. The AI-driven trend has led to a lopsided market, with these seven stocks gaining significantly more than the other 493 in the S&P 500.
Nvidia CEO Announces Super Chip Releases and Partnerships, Including Generative AI for Data Centers
Nvidia CEO Jensen Huang announced several developments during his first public speech in four years at Computex in Taipei. These included the GForce RTX 4080 Ti GPU for gamers, the Avatar Cloud Engine for Games, and the HGX H100 GPU server.
