More than 30 countries have reportedly reached out to OpenAI with interest in joining its $500 billion Stargate initiative, underscoring the scale of demand for artificial intelligence infrastructure. The San Francisco-based company is aiming for an initial 10 anchor partnerships across regions as it builds out Stargate, a project designed to deliver unprecedented computing capacity for AI development, reports Bloomberg. Stargate represents one of the largest private-sector buildouts of computing power in history. In the United States, OpenAI has teamed up with SoftBank Group and Oracle to construct 4.5 gigawatts of capacity, a $500 billion effort praised by President Donald…
Author: CapitalAI Daily Team
Meta is facing scrutiny after reports surfaced that the company’s platforms hosted flirty chatbots impersonating Taylor Swift, Scarlett Johansson, Anne Hathaway and Selena Gomez without the celebrities’ permission. Reuters conducted weeks of testing on Meta’s platform and found that the avatars often insisted they were the real celebrities, flirting with users and even making sexual advances. While many were created by users, a Meta employee built at least three, including two Taylor Swift “parody” bots. Some of the avatars went further than flirtation. When asked for explicit photos, several adult celebrity bots generated lifelike images of their namesakes in sexual…
The CEO of a multi-billion-dollar tech firm says banking giants Goldman Sachs and Citibank are among the firms relying on artificial intelligence (AI) to boost workflow. In a new interview on the A Cheeky Pint YouTube channel, Cognition AI chief executive Scott Wu says its artificial intelligence engineer Devin is now being used by companies big and small across the world. Devin is Cognition’s AI software engineer that has the capabilities to read, write, test, and deploy code end-to-end. It functions like a junior to-mid-level engineer on a software team, working alongside humans but automating repetitive or time-consuming coding tasks.…
The youngest workers in America’s technology sector are facing sharp job losses as artificial intelligence (AI) spreads across the workplace, according to a new Stanford-led study. The research, authored by Erik Brynjolfsson, Prasanna Chandar, and Daniel Chen, uses payroll data from millions of employees across tens of thousands of firms to measure the labor effects of generative AI. Results of the study show the job market has not been kind to young workers, especially those exposed in generative AI fields. “Since the widespread adoption of generative AI, early-career workers (ages 22–25) in the most AI-exposed occupations have experienced a 13%…
The head of MongoDB says the artificial intelligence gold rush is already producing excesses that will not last. In a new CNBC Television interview, Dev Ittycheria, MongoDB CEO, says a wave of overfunded companies is burning through capital without proving their businesses are sustainable. He notes that AI firms are reaching the point where investors will see who is swimming naked. “But what you’re really saying is that there are lots of companies that have been well funded and basically spending money like drunken sailors, if I can use that expression. And the question is how durable is their revenue…
The famed short seller who built his career exposing bubbles and fraud says today’s artificial intelligence (AI) frenzy is starting to look like the last great tech overbuild. In a new interview with the Institute for New Economic Thinking, Jim Chanos points to the pace of capital spending by US tech giants on chips and data centers, comparing it to the telecom and dotcom mania of the late 1990s. Chanos says the Mag 7 firms are spending heavily to buy chips and build out data centers, and firms like Nvidia are raking in profits, a scenario that he witnessed about…
Nvidia (NVDA) stock could still have plenty of room to run to the upside, according to one Wall Street analyst who sees revenue scaling to extraordinary levels by the end of the decade. In a new CNBC interview, Ben Reitzes, head of technology research at Melius, says Nvidia’s long-term growth potential remains unmatched despite near-term volatility. Shares of the semiconductor giant traded slightly lower following its latest earnings report, weighed down by muted guidance around China and a slower ramp for the firm’s new Blackwell chips. But Reitzes argues that the broader growth story outside of China remains firmly intact.…
A South Los Angeles woman sold her condo and lost tens of thousands of dollars after scammers used artificial intelligence (AI) to impersonate a popular soap opera star. Abigail, a longtime fan of General Hospital, began receiving what she believed were personal messages from actor Steve Burton, reports ABC 7. The contact started with deepfake videos sent over Facebook Messenger and later shifted to WhatsApp, where the scammer professed love and promised a life together. Convinced the actor needed financial help, Abigail sent at least $81,304 in gift cards, cash, and Bitcoin, according to a Los Angeles Police Department incident…
The artificial intelligence (AI) trade is flashing signs of broadening beyond mega-cap tech names, according to banking titan JPMorgan Chase. In a new CNBC interview, JPMorgan Chase’s chief market strategist for the Americas, Gabriela Santos, says the market is shifting toward a wider set of opportunities tied to AI adoption. She notes that while the largest technology companies continue to post strong numbers, the pace of earnings surprises has slowed. That deceleration, she argues, has opened the door for other areas of the market to gain traction. “It’s just the magnitude of the earnings beats has been decelerating, and so…
Alibaba is stepping into Nvidia’s gap in China with a new (artificial intelligence) AI chip as NVDA shares drop despite record-breaking sales. The e-commerce giant has unveiled a processor built for a broader range of inference tasks, aimed at customers blocked from accessing Nvidia hardware, the Wall Street Journal reports. The chip is being manufactured by a Chinese foundry rather than Taiwan Semiconductor Manufacturing, a shift that underscores Beijing’s goal of technology self-reliance. People familiar with the matter say Alibaba’s new chip is designed to handle a wide array of AI inference tasks, but notes that the tech is still…