Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
US Curbs Export of More AI Chips to China
US Curbs Export , of More AI Chips to China.
On Oct.
17, the U.S. Department of Commerce said
it intends to prevent China from buying more of America's advanced AI chips in the coming weeks.
.
The new rules are meant to close loopholes
that surfaced "after last year's restrictions on AI
chip exports went into effect," CNBC reports.
Those restrictions banned selling the Nvidia H100
but still allowed Chinese companies to purchase
slower versions of the processor, the H800 or A800.
Those slower versions will now be banned as well.
The updates are specifically designed
to control access to computing power,
which will significantly slow the PRCās
development of next-generation
frontier model, , U.S. Commerce Secretary Gina Raimondo, via statement.
... and could be leveraged in ways that threaten the U.S. and our allies, especially because they could be used for military uses and modernization, U.S. Commerce Secretary Gina Raimondo, via statement.
U.S. Commerce Secretary Gina Raimondo
said that only a small percentage of chip exports to China will be affected.
The fact is China, even after the update of this rule, will import hundreds of billions of dollars of semiconductors from the United States, U.S. Commerce Secretary Gina Raimondo, via statement.
The new rules will go into effect after
being on public notice for 30 days.
Following news of the development
on Oct.
17, shares of Nvidia, Broadcom, Marvell, AMD and Intel all dropped slightly.
Following news of the development
on Oct.
17, shares of Nvidia, Broadcom, Marvell, AMD and Intel all dropped slightly.
Following news of the development
on Oct.
17, shares of Nvidia, Broadcom, Marvell, AMD and Intel all dropped slightly.
Following news of the development
on Oct.
17, shares of Nvidia, Broadcom, Marvell, AMD and Intel all dropped slightly.
Following news of the development
on Oct.
17, shares of Nvidia, Broadcom, Marvell, AMD and Intel all dropped slightly
Amazon Reaches $2 Trillion , in Stock Market Value.
On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. .
Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. .
Within the past year,
Amazon's stock has gained 52%.
Part of that gain can be attributed
to investors' enthusiasm about the
company's AI endeavors, NPR reports. .
A big part of the valuation boost has
been cloud and AI. Amazon is going to
be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon CEO Andy Jassy recently said that
AI has rejuvenated the growth of AWS.
The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.
Amazon recently invested in Anthropic, a California
AI company, "to develop so-called foundation models
that underpin generative AI systems," NPR reports. .
Amazon also makes its own AI chips.
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia.
Credit: Wibbitz Top Stories Duration: 01:30Published
Nvidia Rides Wave of AI Interest , to Overcome Apple as the, Second-Most Valuable Company.
'The Independent' reports that Nvidia has overtaken
Apple as the world's second-most valuable company,
with an estimated value of over $3 trillion.
'The Independent' reports that Nvidia has overtaken
Apple as the world's second-most valuable company,
with an estimated value of over $3 trillion.
The chipmaker has seen share values skyrocket
amid speculation about artificial intelligence, which
is powered by chips like those produced by Nvidia.
The growing interest in AI has made Nvidia
the biggest company in Silicon Valley,
allowing it to unseat Apple. .
The growing interest in AI has made Nvidia
the biggest company in Silicon Valley,
allowing it to unseat Apple. .
Meanwhile, the iPhone maker has seen
its own value fall amid concerns such as
dwindling sales in the Chinese market.
Nvidia now has plans to split its stock
ten-for-one on June 7, a decision that has
the potential to attract more individual investors.
Nvidia is making money on AI
right now, and companies like Apple
and Meta are spending on AI, Jake Dollarhide, chief executive officer at
Longbow Asset Management, via 'The Guardian'.
It may be a foregone conclusion
that Nvidia will overtake Microsoft
as well. Thereās a lot of retail money
thatās piling in on what they
see as a straight shot up, Jake Dollarhide, chief executive officer at
Longbow Asset Management, via 'The Guardian'.
So far in 2024, Nvidia has seen its stock surge 147%,
rallying nearly 30% since May alone when
the company released its latest revenue forecast.
On June 5, the chipmaker added almost
$150 billion in market capitalization,
which is more than AT&T's total value.
The same interest in AI also drove a general rally
for AI chip stocks, with PHLX chip index rising
4.5% and Super Micro Computer climbing 4%
Credit: Wibbitz Top Stories Duration: 01:30Published
Intel Reveals , New AI Chips.
On June 4, Intel announced its new
Xeon 6 processor, CNBC reports. .
The new AI chips will help to
provide better performance and more efficient power for data centers.
The announcement follows similar
launches from rivals Nvidia and AMD.
The announcement follows similar
launches from rivals Nvidia and AMD.
Intel launched its 5th Gen Intel Xeon processors just six months ago.
In April, the company
unveiled the Gaudi 3 processor.
Customers are looking for high
performance, cost-effective gen AI
training and inferencing solutions.
And theyāve started to turn
to alternatives like Gaudi. , Patrick Gelsinger, chief executive officer of Intel Corp., via statement.
They want choice. They want
open software and hardware
solutions and time to market
solutions at dramatically lower
TCOs [total cost of ownership], Patrick Gelsinger, chief executive officer of Intel Corp., via statement.
Intel plans "to continue to grow the AI PC category" with its Lunar Lake chips, which
are scheduled to ship in Q3 2024.
Intel, which recorded a $7 billion operating loss in 2023, is attempting to catch up to
its rivals amid the ongoing AI frenzy.
While Intel has been struggling, it differs from Nvidia and AMD because it manufactures chips in addition to designing them.
Additionally, Intel received $20 billion in funding from the CHIPS and Science Act
which could help the company to advance.
Additionally, Intel received $20 billion in funding from the CHIPS and Science Act
which could help the company to advance
Credit: Wibbitz Top Stories Duration: 01:31Published
Nvidia Looks to , Accelerate Production , With New Packaging Technology.
Yahoo Finance reports that Nvidia Corp has announced
plans to use Fan-Out Panel Level Packaging (FOPLP)
technology to package its GB200 AI server chips.
The change was reportedly made to address production constraints
on the currently used Chip on Wafer Substrate (CoWoS) packaging
used at the Taiwan Semiconductor Manufacturing Company.
The change was reportedly made to address production constraints
on the currently used Chip on Wafer Substrate (CoWoS) packaging
used at the Taiwan Semiconductor Manufacturing Company.
According to industry experts, FOPLP
could be a viable alternative to CoWoS
amid the increasing demand for AI chips. .
Analysts consider Nvidia the premier accelerated
compute and generative AI supplier, backed
by production plans with Blackwell Chip. .
Over the past year, stock in
Nvidia has gained over 184%. .
On May 29, shares in Nvidia were up
0.89% at $1,149.10 in premarket trading. .
Yahoo Finance reports that a growing
number of packaging companies are
getting ready to offer FOPLP services. .
Yole Group has predicted that
its market share will increase
from 2% in 2022 to 8% by the year 2028.
The gains are expected to primarily
be driven by higher yields and
increasing cost efficiency.
Experts point out that while FOPLPs could reduce cost
and expand capacity, they have weaker technical
specifications compared to the current CoWoS standard
Credit: Wibbitz Top Stories Duration: 01:31Published
CEO Pay Continued to Rise in 2023, , Widening the Income Gap , Between Executives and Workers.
'The Independent' reports that the typical CEO
compensation for S&P companies continues to
increase, outpacing wages for average workers.
The Associated Press released its annual analysis of
CEO pay, which takes into account salaries, bonuses,
perks and other pay components, like stock awards.
According to the data, median CEO pay jumped almost
13% in 2023, over three times more than the 4.1% increase
to wages and benefits for private-sector workers.
The median pay package for CEO's in 2023
was up 12.6% from 2022, reaching $16.3 million.
With $16.3 million representing the midpoint, approximately half of the S&P 500 CEOs
included in the survey earned even more.
According to the survey, the income gap
was even wider at companies where
workers earn lower wages, like retail.
'The Independent' uses Ross Stores as an example, where
the average worker earning $8,618 would take 2,100 years
to earn as much as CEO Barbara Rentler made in 2023.
'The Independent' uses Ross Stores as an example, where
the average worker earning $8,618 would take 2,100 years
to earn as much as CEO Barbara Rentler made in 2023.
At the top of the AP data was Broadcom Inc.
CEO Hock Tan, who took home a 2023
pay package worth an estimated $162 million.
At the top of the AP data was Broadcom Inc.
CEO Hock Tan, who took home a 2023
pay package worth an estimated $162 million.
In addition to the widening gap between
employees and CEOs, the survey also
highlighted the persistence of gender inequality. .
The highest paid female on the list was Lisa Su,
the CEO and chair of the board for Advanced Micro
Devices, with a total compensation of $30.3 million. .
The highest paid female on the list was Lisa Su,
the CEO and chair of the board for Advanced Micro
Devices, with a total compensation of $30.3 million.
Credit: Wibbitz Top Stories Duration: 01:30Published
Walgreens Plans , āSignificantā Store Closures.
On June 27, Walgreens announced quarterly earnings
that were poorer than expected, NBC News reports.
The company's stock fell 15% in pre-market trading.
CEO Tim Wentworth issued a press release.
We continue to face a difficult operating
environment, including persistent
pressures on the U.S. consumer and the
impact of recent marketplace dynamics
which have eroded pharmacy margins, Tim Wentworth, Walgreens CEO, via press release.
Our results and outlook
reflect these headwinds, Tim Wentworth, Walgreens CEO, via press release.
Wentworth elaborated in an interview with CNBC.
The consumer is absolutely stunned by
the absolute prices of things, and the
fact that some of them may not be
inflating doesnāt actually change their
resistance to the current pricing, Tim Wentworth, Walgreens CEO, via CNBC.
On a call with analysts, Wentworth said that Walgreens' strategy will have to "include the closure of a significant portion of these underperforming stores.".
75% of our stores drive 100% of our
profitability today. What that means is
the others we take a hard look at, we are
going to finalize a number that we will close, Tim Wentworth, Walgreens CEO, via call with analysts.
The pharmacy chain currently
operates about 8,600 stores
Credit: Wibbitz Top Stories Duration: 01:30Published
US Water System May Be , Vulnerable to Cyberattack, by China, Russia and Iran.
CNBC reports that the United States
water system has been the target of a series
of cyberattacks over the past few years. .
In response, the Environmental Protection Agency
(EPA) has been forced to issue an alert warning
that 70% of water systems do not comply
with the Safe Drinking Water Act.
According to the EPA, some have āalarming
cybersecurity vulnerabilities,ā including
unchanged default passwords and former
employees who retain access to vital systems.
In February, the FBI issued a warning to
Congress that Chinese hackers have embedded
themselves into the U.S. cyber infrastructure. .
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Water is among
the least mature
in terms of security, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Stuart Madnick, an MIT professor of engineering
systems and co-founder of Cybersecurity at
MIT Sloan, warns that an attack that shuts off
water to the population is the main concern.
We have demonstrated in our
lab how operations, such as
a water plant, could be shut
down not just for hours or
days, but for weeks, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
CNBC reports that budgets, outdated
infrastructure and an overall reluctance to take
action may prevent necessary fixes from
being made before a serious attack.
Credit: Wibbitz Top Stories Duration: 01:31Published
European Union Announces , Higher Tariffs on Chinese EVs.
On June 12, the EU said it will
impose higher tariffs on imports of
Chinese electric vehicles (EVs), CNBC reports. .
The increase in tariffs is the result of a
probe launched by the EU in October.
According to the EU, the Chinese imports benefit "heavily from unfair subsidies" and threaten "economic injury" to European EV producers.
The influx of subsidized Chinese imports
at artificially low prices therefore
presents a threat of clearly foreseeable
and imminent injury to EU industry, European Commission, via statement.
A 38.1% tariff will be imposed on battery electric vehicle producers who refused to cooperate with the bloc's investigation.
A 21% tariff will be implemented for carmakers in China who complied
but have yet to be "sampled.".
On June 11, a spokesperson for China's Ministry of Commerce called the higher
tariffs a "protectionist act.".
The findings disclosed in the EU
ruling lack factual and legal basis, Spokesperson for China's Ministry of Commerce, via statement.
This is a naked protectionist act,
creating and escalating trade
frictions, and 'destroying fair
competition' in the name of
'maintaining fair competition.' , Spokesperson for China's Ministry of Commerce, via statement.
This move by the EU not only damages the
legitimate rights and interests of Chinaās
electric vehicle industry, but will also disrupt
and distort the global automotive industry
chain supply chain, including the EU, Spokesperson for China's Ministry of Commerce, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk Drops Lawsuit , Against OpenAI.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
The suit alleged that OpenAI initially worked
to develop artificial general intelligence
"for the benefit of humanity" but later strayed
from that goal to become a for-profit entity. .
Musk, who had a hand in launching
OpenAI, was suing "for breach of contract
and fiduciary duty," CNBC reports.
In March, experts told CNBC that the suit had a murky legal foundation because there was no formal written agreement signed by each party.
On June 11, Musk dropped the lawsuit.
It was dismissed without prejudice.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
He called the partnership "an unacceptable security violation" since Apple has
"no clue what's actually going on.".
Itās patently absurd that Apple isnāt
smart enough to make their own
AI, yet is somehow capable of
ensuring that OpenAI will protect
your security & privacy!, Elon Musk, via X.
Musk went on to say that if Apple
"integrates OpenAI at the OS level," the company's devices will be banned at his businesses.
Credit: Wibbitz Top Stories Duration: 01:31Published
Apple Is Reportedly Building , a Dedicated Passwords App.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
The new app will be called Passwords, Engadget reports.
The app will be revealed at the
Worldwide Developers Conference in June.
While Apple already offers password
services via the iCloud Keychain.
it can be tedious to find
or change passwords with it.
A dedicated passwords app would make the whole process easier and likely encourage some people to stick with Apple.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Such categories include "accounts, WiFi networks and Passkeys," CNBC reports. .
Users will be able to
import passwords from other apps.
Two-factor verification codes
will also be supported.
It's not clear if Passwords will let you
store files and images as its rivals do.
Credit: Wibbitz Top Stories Duration: 01:30Published
![Amazon Reaches $2 Trillion in Stock Market Value [Video]](https://video.newsserve.net/300/v/20240627/1379785948-Amazon-Reaches-Trillion-in-Stock-Market-Value.jpg)
![Nvidia Rides Wave of AI Interest to Overcome Apple as the Second-Most Valuable Company [Video]](https://video.newsserve.net/300/v/20240606/1377696200-Nvidia-Rides-Wave-of-AI-Interest-to-Overcome.jpg)
![Intel Reveals New AI Chips [Video]](https://video.newsserve.net/300/v/20240604/1377402622-Intel-Reveals-New-AI-Chips.jpg)
![Nvidia Looks to Accelerate Production With New Packaging Tech [Video]](https://video.newsserve.net/300/v/20240529/1376832986-Nvidia-Looks-to-Accelerate-Production-With-New-Packaging.jpg)
![CEO Pay Continued to Rise in 2023, Widening the Income Gap Between Executives and Workers [Video]](https://video.newsserve.net/300/v/20240603/1377326316-CEO-Pay-Continued-to-Rise-in-2023-Widening.jpg)
![Walgreens Plans āSignificantā Store Closures [Video]](https://video.newsserve.net/300/v/20240627/1379798452-Walgreens-Plans-Significant-Store-Closures.jpg)
![US Water System May Be Vulnerable to Cyberattack by China, Russia and Iran [Video]](https://video.newsserve.net/300/v/20240627/1379775424-US-Water-System-May-Be-Vulnerable-to-Cyberattack.jpg)
![European Union Announces Higher Tariffs on Chinese EVs [Video]](https://video.newsserve.net/300/v/20240612/1378388372-European-Union-Announces-Higher-Tariffs-on-Chinese-EVs.jpg)
![Elon Musk Drops Lawsuit Against OpenAI [Video]](https://video.newsserve.net/300/v/20240612/1378360518-Elon-Musk-Drops-Lawsuit-Against-OpenAI.jpg)
![Apple Is Reportedly Building a Dedicated Passwords App [Video]](https://video.newsserve.net/300/v/20240607/1377790072-Apple-Is-Reportedly-Building-Dedicated-Passwords-App.jpg)
