Archive for the ‘finance’ category: Page 10

Nov 20, 2023

OpenAI CEO Sam Altman wants to build AI “superintelligence”

Posted by in categories: finance, robotics/AI

OpenAI plans to secure further financial backing from its biggest investor Microsoft as the ChatGPT maker’s chief executive Sam Altman pushes ahead with his vision to create artificial general intelligence—computer software as intelligent as humans.

In an interview with the Financial Times, Altman said his company’s partnership with Microsoft’s chief executive Satya Nadella was “working really well” and that he expected “to raise a lot more over time” from the tech giant among other investors, to keep up with the punishing costs of building more sophisticated AI models.

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Nov 17, 2023

Mercedes-Benz launches first EV charging hub in US with 400kW piles from ChargePoint

Posted by in categories: energy, finance, sustainability

Eleven months after sharing plans to develop and implement a new series of EV charging hubs across North America, Mercedes-Benz, with the help of ChargePoint, has opened its very first location in the US, complete with a driver lounge and powered using 100% renewable energy.

This past January, Mercedes-Benz announced plans for the new network of fast charging hubs during a press conference at CES alongside its new partner, ChargePoint.

At the time, we learned that both MN8 Energy and Mercedes-Benz would finance and jointly operate the network of over 400 planned charging hubs, becoming home to over 2,500 ChargePoint DC fast charging piles across the US and Canada.

Nov 16, 2023

Warren Buffett Is Expected To Rake In Over $6 Billion In Dividends In The Next Year

Posted by in category: finance

Warren Buffett, the venerated investor and CEO of Berkshire Hathaway, is set to amass over $6 billion in dividend income in the coming year, with a significant portion of this windfall emanating from just three stocks. This substantial income stream underscores the effectiveness of Buffett’s investment strategy, one that favors profitability and long-term value.

Buffett’s predilection for dividend-bearing stocks isn’t just a matter of preference; it’s a testament to his investment acumen. Among his top dividend earners, Bank of America Corp BAC stands out, with expected dividend earnings of approximately $991.5 million. A leading financial institution, BofA has thrived in the higher interest rate environment, seeing a substantial increase in its net-interest income.

Nov 15, 2023

Running thousands of LLMs on one GPU is now possible with S-LoRA

Posted by in categories: business, finance, information science, robotics/AI

VentureBeat presents: AI Unleashed — An exclusive executive event for enterprise data leaders. Hear from top industry leaders on Nov 15. Reserve your free pass

Fine-tuning large language models (LLM) has become an important tool for businesses seeking to tailor AI capabilities to niche tasks and personalized user experiences. But fine-tuning usually comes with steep computational and financial overhead, keeping its use limited for enterprises with limited resources.

To solve these challenges, researchers have created algorithms and techniques that cut the cost of fine-tuning LLMs and running fine-tuned models. The latest of these techniques is S-LoRA, a collaborative effort between researchers at Stanford University and University of California-Berkeley (UC Berkeley).

Nov 12, 2023

Scientists shed new light on critical issue facing battery components in EVs: ‘The whole field has been misled’

Posted by in category: finance

“We found that the electrolyte reacting with the cathode surface leads to the increased crack formation,” Manthiram said in the lab report.

The UT team reports that reversible cracking happens during battery operation. But, the electrolyte is working its way into those openings, removing oxygen from the cathode, and solidifying the cracks, per the UT report.

To help visualize the problem, the experts likened this process to a river eroding its banks. And, in their opinion, the electrolyte’s impact on the cathode’s surface is the main cause for the degradation.

Nov 10, 2023

JPMorgan Switches On Programmable Payments Using Blockchain Tech

Posted by in categories: blockchains, finance

One of the most high-profile blockchain systems in traditional banking has added a new feature that lets companies shift cash automatically.

JPMorgan Chase & Co’s JPM Coin now allows clients to program their accounts by plugging in a set of key conditions, enabling them to move funds to cover overdue payments and margin calls. Further down the line, it may help them seize on differences in exchange rates.

Germany’s Siemens AG used the system this week, configuring its accounts to transfer money to fill potential shortfalls, Naveen Mallela, head of Coin Systems at JPMorgan’s blockchain division Onyx, said in an interview.

Nov 10, 2023

AI could cause ‘catastrophic’ financial crisis, says Yuval Noah Harari

Posted by in categories: finance, robotics/AI

Historian and Sapiens author says sophistication of technology makes it difficult to forecast its dangers.

Nov 10, 2023

BlueNoroff hackers backdoor Macs with new ObjCShellz malware

Posted by in categories: cryptocurrencies, cybercrime/malcode, finance

The North Korean-backed BlueNorOff threat group targets Apple customers with new macOS malware tracked as ObjCShellz that can open remote shells on compromised devices.

BlueNorOff is a financially motivated hacking group known for attacking cryptocurrency exchanges and financial organizations such as venture capital firms and banks worldwide.

The malicious payload observed by Jamf malware analysts (labeled ProcessRequest) communicates with the swissborg[.]blog, an attacker-controlled domain registered on May 31 and hosted at 104.168.214[.]151 (an IP address part of BlueNorOff infrastructure).

Nov 7, 2023

Microsoft unveils ‘LeMa’: A revolutionary AI learning method mirroring human problem solving

Posted by in categories: finance, robotics/AI, transportation

The team’s research, including their code, data, and models, is now publicly available on GitHub. This open-source approach encourages the broader AI community to continue this line of exploration, potentially leading to further advancements in machine learning.

The advent of LeMa represents a major milestone in AI, suggesting that machines’ learning (ML) processes can be made more akin to human learning. This development could revolutionize sectors heavily reliant on AI, such as healthcare, finance, and autonomous vehicles, where error correction and continuous learning are critical.

As the AI field continues to evolve rapidly, the integration of human-like learning processes, such as learning from mistakes, appears to be an essential factor in developing more efficient and effective AI systems.

Nov 6, 2023

AI Pioneer Kai-Fu Lee Builds $1 Billion Startup in Eight Months

Posted by in categories: business, finance, robotics/AI

01. AI’s model outperforms Meta’s Llama 2 on certain metricsStartup to offer open-source model; proprietary options laterA Chinese startup founded by computer scientist Kai-Fu Lee has become a unicorn in less than eight months on the strength of a new open-source artificial-intelligence model that outstrips Silicon Valley’s best, on at least certain metrics.

The company, 01.AI, has reached a valuation of more than $1 billion after a funding round that included Alibaba Group Holding Ltd.’s cloud unit, Lee said in an interview. The chief executive officer of venture firm Sinovation Ventures will also be CEO of the new startup. He began assembling the team for 01.AI in March and started… More.

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