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AI's Progress Stalls as OpenAI, Google and Anthropic Hit Roadblocks

Despite years of rapid advancements in artificial intelligence (AI), three of the leading companies in the field – OpenAI, Google, and Anthropic – are facing unexpected hurdles in their efforts to develop more sophisticated models, reports Bloomberg. OpenAI's latest model, known internally as Orion, failed to meet the company'

CoreWeave More Than Triples Valuation in $650 Million Secondary Share Sale

AI cloud platform operator CoreWeave has closed a $650 million secondary share sale to investors, more than tripling the company's valuation to $23 billion over the past year, reports Reuters. The investors were led by Jane Street, Magnetar, Fidelity Management, and Macquarie Capital. This significant valuation increase highlights

Red Hat Acquires Neural Magic to Boost Open Source AI Capabilities

Red Hat has signed an agreement to acquire Neural Magic, a company specializing in software and algorithms that accelerate generative AI (gen AI) inference workloads, according to a press release from Red Hat. The acquisition serves to further the company's goal of making AI workloads more accessible and

Shopify's Soaring Stock Sends Canada's Benchmark Index to Record Highs

Shopify shares surged as much as 25% on Tuesday, pushing Canada's benchmark stock index, the S&P/TSX Composite Index, to a record high of nearly 25,025, reports Markets Insider. The e-commerce giant, which provides software for online storefronts, holds the most weight of any stock

Baidu Unveils New AI Applications, Including Enhanced Text-to-Image Tech and No-Code App Builder

China's Baidu Inc has unveiled a suite of new applications for its artificial intelligence technology, highlighting a shift towards commercialization after years of research and development, reports Reuters. The company, known for its search engine dominance in China, is among tech firms embracing the commercialization of large language

NVIDIA and SoftBank To Pilot World's First Combined AI and 5G Network

NVIDIA and SoftBank Corp. have announced a series of collaborations aimed at accelerating Japan's sovereign AI initiatives and solidifying its global technology leadership. The partnerships are also expected to unlock billions of dollars in AI revenue opportunities for telecommunications providers worldwide. During his keynote at NVIDIA AI Summit

Spotify Beats Estimates on Cost Cuts, Steady User Growth

Spotify, the audio-streaming giant, has forecast fourth-quarter profit above Wall Street estimates, buoyed by cost cuts and strong subscriber growth in the crucial holiday season, reports Reuters. The Swedish company has been actively pursuing a path to profitability, implementing cost-cutting measures including employee layoffs, reducing podcast spending, and trimming marketing

Apple Enters Smart Home Battle

Apple Inc., aiming to bolster its presence in the competitive smart home market, is set to launch a new product category: a wall-mounted display that serves as a command center for the home, reports Bloomberg. The device, code-named J490, is expected to be unveiled as early as March, according to

Ecosia and Qwant Team Up to Challenge Google's Search Dominance

Two European search engines, Ecosia and Qwant, are joining forces to build a European search index and reduce their dependence on US tech giants like Google, reports CNBC. The companies have formed a joint venture, called the European Search Perspective (EUSP), with equal ownership. The venture, set to launch in

Microsoft-Backed Startup Fastino Debuts Task-Optimized Enterprise AI Models That Run on CPUs

Fastino, a San Francisco-based startup, has emerged from stealth mode with a $7 million pre-seed funding round led by Insight Partners and M12, Microsoft’s Venture Fund, reports VentureBeat. The company is developing task-optimized enterprise AI models that offer improved performance at a lower cost, running efficiently on CPUs instead