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Archive for the ‘finance’ category: Page 2

Aug 11, 2024

Weapons startup Anduril hits $14-billion valuation, plans huge new facility

Posted by in categories: finance, government, robotics/AI, transportation

Defense technology startup Anduril Industries Inc. has raised $1.5 billion in a new funding round and plans to spend hundreds of millions on a new facility to manufacture its rockets, underwater vehicles and other autonomous weapons systems at greater scale and speed.

The deal, which values Anduril at $14 billion, is one of the largest venture capital financings of the year so far, and reflects the company’s success getting government contracts, as well as rising investor enthusiasm for defense technology companies.

Peter Thiel’s Founders Fund and Sands Capital co-led the Series F funding round, which has been in the works for more than a month. The deal nearly doubles the startup’s valuation from its previous funding round in 2022, which raised $1.48 billion.

Aug 1, 2024

David Spivak: Pioneering Math for Understanding Reality | AGI-24 Keynote Preview

Posted by in categories: biotech/medical, chemistry, finance, mathematics, robotics/AI, singularity

Mathematics application to a new understanding thd world and life and information.


Dr. David Spivak introduces himself as a keynote speaker at the 17th Annual Artificial General Intelligence Conference in Seattle and shares his lifelong passion for math. He discusses his journey from feeling insecure about the world as a child, to grounding his understanding in mathematics.

Continue reading “David Spivak: Pioneering Math for Understanding Reality | AGI-24 Keynote Preview” »

Jul 31, 2024

Meta’s future is AI, AI, and more AI

Posted by in categories: business, finance, robotics/AI

On Meta’s Wednesday earnings call, CFO Susan Li reiterated to investors that financial returns from its recent AI investments will “come in over a longer period of time.” Zuckerberg was direct about why Meta is spending billions on Nvidia hardware and the other infrastructure ahead of these future returns: “It’s hard to predict how this will trend multiple generations into the future, but at this point, I’d rather risk building capacity before it is needed rather than too late.”

He again telegraphed that the Meta AI assistant is on track to be the most used in the world before the end of the year. While he touted that generative AI features “are things that I think will increase engagement in our products,” he said the real revenue will come from business use cases, like AI creating ads from scratch and letting businesses operate their own AI agents in WhatsApp for customer service.

Jul 29, 2024

Controversial CRISPR scientist promises “no more gene-edited babies” until society comes around

Posted by in categories: biotech/medical, finance, genetics

In a public interview, Chinese biophysicist He Jiankui said he is receiving offers of financial support from figures in the US.

Jul 28, 2024

JPMorgan Chase, Wells Fargo and Bank of America Refuse To Reimburse $880,000,000 To Customers, Accused of ‘Repeated, Relentless Failure’ To Protect Victims of Fraud

Posted by in category: finance

A US Senate investigation is shedding light on just how often America’s big banks refuse to reimburse victims of fraud.

The Permanent Subcommittee on Investigations says JPMorgan Chase, Wells Fargo and Bank of America collectively refused to reimburse $880 million in Zelle transactions that customers reported as fraud between 2021 and 2023.

Specifically, the banks refused to reimburse $320 million to customers who were hit by unauthorized transactions – and rejected an additional $560 million in reimbursement to customers who were tricked into authorizing an illicit transaction.

Jul 25, 2024

Sustainable Million-Mile Battery Bet Pays Off For Mercedes-Benz

Posted by in categories: energy, finance, sustainability, transportation

“The technological focus is on significant increases in range through advances in energy density and the reduction of charging times,” Mercedes explained, noting that the partnership cements a reliable EV battery cell supply chain while providing financial support for Farasis to build a factory in Germany.

How Sustainable Is A Million-Mile EV Battery?

Continue reading “Sustainable Million-Mile Battery Bet Pays Off For Mercedes-Benz” »

Jul 24, 2024

Big News for Quantum Computing: First Scalable Platforms

Posted by in categories: finance, open access, quantum physics, robotics/AI

Learn more about neural networks and large language models on Brilliant! First 30 days are free and 20% off the annual premium subscription when you use our link ➜ https://brilliant.org/sabine.

A lot of big banks are banking on quantum computing because they think it’ll give them an edge in trading. Though I have on previous occasions noted my doubt that we’ll see any useful quantum computers within the next ten years, two new papers detailing new methods of scaling quantum computers have shifted my perspective. Let’s have a look.

Continue reading “Big News for Quantum Computing: First Scalable Platforms” »

Jul 20, 2024

AI-powered optical detection to thwart counterfeit chips

Posted by in categories: finance, quantum physics, robotics/AI, security, surveillance

The semiconductor industry has grown into a $500 billion global market over the last 60 years. However, it is grappling with dual challenges: a profound shortage of new chips and a surge of counterfeit chips, introducing substantial risks of malfunction and unwanted surveillance. In particular, the latter inadvertently gives rise to a $75 billion counterfeit chip market that jeopardizes safety and security across multiple sectors dependent on semiconductor technologies, such as aviation, communications, quantum, artificial intelligence, and personal finance.

Jul 19, 2024

How Nvidia became an AI Giant

Posted by in categories: finance, robotics/AI

It all started at a Denny’s in San Jose in 1993. Three engineers—Jensen Huang, Chris Malachowsky and Curtis Priem—gathered at the diner in what is now the heart of Silicon Valley to discuss building a computer chip that would make graphics for video games faster and more realistic. That conversation, and the ones that followed, led to the founding of Nvidia, the tech company that soared through the ranks of the stock market to briefly top Microsoft as the most valuable company in the S&P 500 this week.

The company is now worth over $3.2 trillion, with its dominance as a chipmaker cementing Nvidia’s place as the poster child of the artificial intelligence boom—a moment that Huang, Nvidia’s CEO, has dubbed “the next industrial revolution.”

On a conference call with analysts last month, Huang predicted that the companies using Nvidia chips would build a new type of data center called “AI factories.”

Jul 19, 2024

Live: Cyber security company CrowdStrike linked to global IT outage

Posted by in categories: business, cybercrime/malcode, finance, transportation

Computer security company CrowdStrike is linked to a major IT outage affecting banks, airports, supermarkets and businesses across Australia and the world.

Airport check-in systems across the globe have been disrupted and businesses have reported the “blue screen of death” and IT outages.

Follow our live blog or download the ABC News app and subscribe to our range of news alerts for the latest updates.

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