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News on tech innovations and their impact on businesses and markets.

Artificial Intelligence

Artificial Intelligence
OpenAI invests in private equity firm Thrive Holdings
OpenAI has taken an ownership stake in private equity firm Thrive Holdings, which it said would accelerate artificial intelligence use among businesses. Thrive Holdings invests in companies that could benefit from adopting technologies like AI. OpenAI will embed research, product, and engineering teams into Thrive Holdings’ businesses to increase their AI use, it said. “AI is redefining how enterprises are built and deliver value for customers,” said OpenAI COO Brad Lightcap. “This partnership with Thrive Holdings is about demonstrating what’s possible when frontier AI research and deployment are rapidly deployed across entire organisations to revolutionise how businesses work and engage with customers.” OpenAI plans to first focus on integrating its AI models into companies in the accounting and IT services sector, with the goal of forming a repeatable process for other industries. The companies did not disclose the financial terms of the deal. OpenAI’s stake in Thrive Holdings will grow if the companies it works with are successful after the AI integration process, CNBC reported. OpenAI also took stakes in AI infrastructure partners like Advanced Micro Devices and CoreWeave this year. Thrive Capital, Thri
Artificial Intelligence
Nvidia invests US$2bn in Synopsys partnership
Computer chip maker NVIDIA has made a US$2 billion (A$3.06 billion) investment in chip design software maker Synopsys as part of an expansion of their long-term strategic partnership. The two companies said the partnership would help research and development (R&D) teams to design, simulate and verify intelligent products with greater precision and speed and at a lower cost. NVIDIA made the investment in Synopsys at $414.79 per share, a discount to the closing price on Monday (Tuesday AEDT) of $438.29 after the share price rose $20.28 or 4.85% on the day. “This is a huge deal,” Nvidia CEO Jensen Huang told CNBC’s “Squawk on the Street” program. They said R&D teams in industries ranging from semiconductors to aerospace, automotive and industrial faced significant engineering challenges, including increasing workflow complexity, escalating development costs and time-to-market pressure Huang said in a media release that the partnership harnessed the power of NVIDIA accelerated computing and artificial intelligence (AI) to “reimagine engineering and design — empowering engineers to invent the extraordinary products that will shape our future." “No two companies are better positioned to deliver AI-powered, holistic sys
Artificial Intelligence
Databricks plans US$5bn capital raising
Databricks is planning reportedly a capital raising that would value the company at US$134 billion (A$204.8 billion) The 12-year-old data analytics firm is in talks to raise $5 billion, according to media reports. This would value the cloud-based data and artificial intelligence (AI) platform company at about 32 times this year's forecast sales of about $4.1 billion, Reuters reported in this article. Reuters quoted a report in technology publication The Information, which in turn cited investor documents and a person familiar with the matter, but could not immediately verify the report. Founded in 2013, Databricks offers a platform allowing customers including Block and Shell to analyse data and build AI applications. The company has increased its sales forecasts twice this year and now expects growth of 55% from an initial $3.8 billion, the Information reported.
Artificial Intelligence
MIT: AI could replace 11.7% of US workforce
A new study by the Massachusetts Institute of Technology (MIT) found that artificial intelligence can already replace 11.7% of the United States labour market. MIT and Oak Ridge National Laboratory’s new Iceberg Index also found that AI in the labour market would save up to US$1.2 trillion in wages across finance, health care and professional services. The Iceberg Index simulates how 151 million U.S. workers interact across the country and how they are impacted by AI. The index was announced earlier this year and offers a forward-looking view of how AI might shift the US$9.4 trillion American labour market. The index can offer a detailed map of where disruption is forming down to the zip code. “Basically, we are creating a digital twin for the U.S. labour market,” Prasanna Balaprakash, ORNL director and co-leader of the research, told CNBC. The index treats the 151 million workers as individual agents, each tagged with different skills, occupations, tasks and locations. The researchers have found that layoffs and role shifts in tech, computing and information technology account for just 2.2% of total wage exposure or about US$211 billion of the US$1.2 trillion total wage exposure. While the index is not a p
Artificial Intelligence
Mission Genesis: Trump pools US resources for AI tech
Akin to a narrative borne out of a science fiction movie, the White House has escalated the global AI tech race, signing an executive order (EO) to mobilise the United States federal scientific apparatus for what it calls the "Genesis Mission". It tasks the Department of Energy (DoE) with constructing the "American Science and Security Platform" - a centralised, closed-loop network designed to pool the computing power of 17 National Laboratories with private sector hyperscalers. President Trump’s directive signals that the U.S. scientific engine is stalling, and requires a silicon and synthetic intelligence injection to restart. Signed Monday, the order mandates the DOE demonstrate operational capability within nine months, turning the nation's nuclear and energy research hubs into a singular "scientific instrument".Mission: Genesis Nvidia & AWS tapped: The private sector will provide the compute, with AWS already committing US$50 billion to U.S. government infrastructureChina’s shadow: The order cites the need to outpace "global rivals", a reference to Beijing’s state-led "AI for Science" roadmapsEnergy demand: Officials admit the build-out will demand significant power, aiming to offset costs through eventual grid mode

Technology

Artificial Intelligence

OpenAI invests in private equity firm Thrive Holdings

Nvidia invests US$2bn in Synopsys partnership

Databricks plans US$5bn capital raising

MIT: AI could replace 11.7% of US workforce

Mission Genesis: Trump pools US resources for AI tech

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