The AI Cash Pie
The AI Cash Pie
Amazon investing an additional $2.75 billion in Anthropic to date $7 bill
US Government going all in on AI
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The AI Cash Pie
Just how rich are businesses getting in the AI gold rush? Nvidia and Microsoft are not the only winners.
Barely a day goes by without excitement over artificial intelligence (AI) sending another company’s market value through the roof. This month the share price of Dell, a hardware-maker, jumped by over 30% in a day because of hopes that AI will boost sales. Days later Together AI, a cloud-computing startup, raised new funding at a valuation of $1.3bn, up from $500m in November. One of its investors is Nvidia, a maker of AI chips that is itself on an extended bull run. Before the launch in November 2022 of ChatGPT, a “generative” AI that responds to queries in uncannily humanlike ways, its market value was about $300bn, similar to that of Home Depot, a home-improvement chain. Today it is $2.3trn, $500bn or so shy of Apple’s.
The relentless stream of AI headlines makes it hard to get a sense of which businesses are real winners in the AI boom—and which will win in the longer run. To help answer this question The Economist has looked where value has accrued so far and how this tallies with the expected sales of products and services in the ai “stack”, as technologists call the various layers of hardware and software on which ai relies to work its magic….
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Amazon investing an additional $2.75 billion in Anthropic to date $4 billion
Amazon has made a significant investment of $2.75 billion in the artificial intelligence startup Anthropic. This latest investment brings Amazon's total stake in the San Francisco-based company to $4 billion. The initial investment of $1.25 billion was made in September, and the recent infusion completes the commitment Amazon made at that time to invest up to $4 billion in Anthropic.
Anthropic is known for its generative AI and the Claude 3 family of models, which demonstrate advanced intelligence, near-human levels of responsiveness, improved steerability and accuracy, and new vision capabilities. These models are accessible on Amazon Bedrock, a fully managed service provided by Amazon Web Services (AWS). As part of the agreement between the two companies, Anthropic is using AWS as its primary cloud provider and will utilize AWS Tranium and Inferentia chips for its future AI models. Additionally, Anthropic has made a long-term commitment to provide AWS customers with access to future generations of its foundation models on Amazon Bedrock.
The strategic collaboration is aimed at improving customer experiences and leveraging generative AI, which is considered to be one of the most transformational technologies of our time….
By Haleluya Hadero of The Associated Press
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US Government going all in on AI
The White House will require federal agencies to test artificial intelligence tools for potential risks and designate officers to ensure oversight, actions intended to encourage responsible adoption of the emerging technology by the US government.
The Office of Management and Budget issued a government-wide policy Thursday to mitigate the threats posed by AI — including discrimination and privacy violations — and increase transparency over how government uses the technology, building on an executive order signed by President Joe Biden last year.
Agencies will be required to implement “concrete safeguards” by Dec. 1 when they use AI in ways that could affect Americans’ rights or safety, according to a White House fact sheet. Chief AI officers will be appointed at federal agencies to coordinate the use of artificial intelligence across government and insure implementation of OMB’s guidance.
The safeguards will ensure agencies can give travelers the ability to opt out of Transportation Security Administration facial recognition without delays at airports….
By Akayla Gardner of Bloomberg
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