FMP
May 29, 2024 12:11 PM - Davit Kirakosyan
Nvidia (NASDAQ:NVDA) saw its shares rise nearly 7% yesterday, influenced in part by the news that Elon Musk’s AI startup, xAI, has obtained $6 billion in funding to rival OpenAI. The Series B funding round, disclosed in a blog post on May 26, marks a major investment in AI, coming less than a year after xAI was founded.
Elon Musk, a significant advocate of AI who originally supported OpenAI before its ChatGPT release in late 2022, later withdrew his support due to concerns about the potential dangers of the technology. Last year, he joined other industry figures in calling for a temporary halt in AI development.
In November, Musk introduced Grok, an alternative to OpenAI’s ChatGPT, which has been integrated into X.com, the social network previously known as Twitter. Grok is the leading product of xAI, which is managed by executives with backgrounds from Alphabet’s DeepMind, Microsoft, and Tesla.
The newly acquired funds will be utilized to launch xAI’s initial products, develop sophisticated infrastructure, and speed up future technological advancements, according to the blog post.
Additionally, The Information reported last week that xAI intends to build a large supercomputer to support the next version of Grok, with Musk aiming for it to be operational by fall 2025.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...