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Zuckerberg’s Vision for AI
In conversation with Nvidia [NVDA] CEO Jensen Huang at the SIGGRAPH 2024 conference in Denver on Monday, Meta [META] CEO Mark Zuckerberg detailed the future for the tech giant’s augmented reality glasses, which will have artificial intelligence (AI) assistants built in. This was just one among a number of AI updates Zuckerberg discussed: “We’ll have the Meta AI assistant, but we want our customers to create their own agents,” he said. “We call it AI Studio, it’s a set of tools that allows every user to create an AI version of themselves”. For example, Instagram users will soon be able to create a personalised chatbot.
What’s New in Semiconductors?
CEO Jensen Huang showcased Nvidia’s latest offerings at the SIGGRAPH 2024 conference, among them Nvidia inference micro services, or NIMs, which are software packages that handle the logistics behind using AI. Elsewhere, Samsung Electronics [SSNLF] is moving to close the gap with upstart rival SK Hynix [000660:KS] with its HBM3 AI memory chips, recently approved by Nvidia. Apple [AAPL] on Monday said it trained its AI models on processors designed byGoogle [GOOGL], CNBC reported, in a possible sign that big tech stocks are trying to break Nvidia’s chip dominance.
Robot Cleaners on the Streets of Singapore
Self-driving technology firm WeRide in June began testing AI-powered “Robosweepers” in Singapore, after rollouts in several Chinese cities. “Logistics delivery and waste transport — these two areas have been moving forward,” Sebastian Yee, Singapore Director of Business Development at WeRide, told CNBC. WeRide filed for an IPO on the Nasdaq last Friday. Elsewhere, Truist Securities has test-driven Tesla’s [TSLA] autonomous driving software and determined that challenges in the tech make it fall short of autonomy. Tesla is recalling 1.8 million vehicles in the US over a software failure.
Nvidia Expands Stake in Robotics Stock
Serve Robotics [SERV] stock climbed 187% on 19 July following news that Nvidia had made a new investment into the firm, bringing its investment to $12m, equivalent to some 10% of the company. SERV is up 121% over the past five days, while Symbotic [SYM], a leader in robot technology for supply chain logistics, is down 7.8%. Symbotic reported higher-than-expected Q3 revenues of 57.8%, while system gross margin missed expectations due to long schedules and implementation costs. Chief Strategy Officer William M Boyd III sold 8,826 shares worth more than $340,000 on July 26.
Is the Worst Over for CrowdStrike?
The cybersecurity firm’s [CRWD] share price had hit rock bottom and was now set to recover, according to CNBC’s Jim Cramer on Monday morning. Come evening, however, CRWD lost another 5% in afterhours trading on news that Delta Airlines [DAL] has hired attorney David Boies, known for winning a landmark antitrust case against Microsoft [MSFT], to seek damages from both CrowdStrike and Microsoft over the global IT outage earlier this month. The outage has already cost Delta as much as $500m.
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