AI Chipmaker Nvidia Overtakes Apple As The World's Most Valuable Company

Nvidia dethroned Apple as the world's most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips.

Oct 26, 2024

Nvidia's stock market value briefly touched $3.53 trillion, slightly above Apple's $3.52 trillion, LSEG data showed. Nvidia ended the day up 0.8%, with a market value of $3.47 trillion, while Apple's shares rose 0.4%, valuing the iPhone maker at $3.52 trillion.

In June, Nvidia briefly became the world's most valuable company before it was overtaken by Microsoft and Apple. The tech trio's market capitalizations have been neck-and-neck for several months. Microsoft's market value stood at $3.18 trillion, with its stock up 0.8%.

The Silicon Valley chipmaker is the dominant supplier of processors used in AI computing, and the company has become the biggest winner in a race between Microsoft, Alphabet Meta Platforms and other heavyweights to dominate the emerging technology.

AI's 'Existential Threat' to Humans

Nobel Prize winner Geoffrey Hinton says that AI could pose an existential threat to humankind because of the way it learns and iterates. He speaks to David Westin on "Wall Street Week."

LinkedIn Says It Has Verified 55 Million Users In Effort To Combat AI's Spread Of Scams, Misinformation

LinkedIn has verified more than 55 million of its users, for free, in order to combat the spread of misinformation fueled by the rise of artificial intelligence.

The Microsoft-owned service said it has the most verified individual human identities of any major social network. In November, the company will begin showing its user verification badges within the primary LinkedIn feed.

“You now see things like deep-fake videos, photos that are increasingly harder with the naked eye to understand if they’re real or fake,” Oscar Rodriguez, LinkedIn’s vice president of trust and safety, told CNBC in an interview. “That line-blurring is what we believe poses a significant challenge in combating things like misinformation, faking expertise and so forth.”

LinkedIn began verifying users in April 2023. The move followed social media platform X’s decision in November 2022 to require users who wanted a verification badge to subscribe to its premium service, and came shortly after Meta launched Meta Verified, a subscription service that allowed Facebook and Instagram users to receive verification badges for their profiles.

More about LinkedIn verification of 55 million users

Apple's Competition Isn't Other AI Companies, Its Smart Phone Makers, Says Former Apple Executive Fadell

Tony Fadell, NEST founder, former Apple executive, joins 'Closing Bell Overtime' to talk Apple's newest iPhone.

Does The Rise Of AI Agents Signal The End Of The App Economy?

The app economy is quickly coming to an end. A sensational sentiment, perhaps, but let’s go ahead play this scenario out anyway.

For the past year I have closely tracked how much of the enterprise software and SaaS services we use will be deprecated to data services or databases. AI tools and agents will remove abstraction layers and enable a single-pane-of-glass-type use case where we can leverage multi-modal generative tools to build a real time UI for a specific query or use case. (Think search with Gen AI for business.)

Now, shift your thinking to the app experience most of us have today when we interact with our mobile devices and tablets. Many of us use dozens, if not hundreds, of applications for everything from banking and travel to work and games.

To make it all work, we organize apps in folders, and we use Face ID to give us easy login access. In the process, we permit these apps unadulterated access to our data to ensure experiences are good — often with little regard for the way the data is utilized (a topic for another day). App builders have built apps for better UI/UX and connecting to data services such as ride share, hotel and flights, food, and investment services.

Imagine, then, a future AI-powered device with a powerful security operations center with the GPU/NPU and amazing connectivity that allows digital assistants and agents to sit at the operating system level. You can simply talk to your digital assistant.

Arianna Huffington On How AI Can Be a Force for Good Not Evil | Fortune

Interviewer Jessica Yellin, founder, News Not Noise sat down for a Fortune interview with Thrive Global CEO Arianna Huffington to explore how to manage election anxiety, Navy SEAL techniques for stress, and whether AI is a force for good or evil.

Meta Signs Its First Big AI Deal For News

Meta’s AI chatbot will soon begin citing Reuters reporting while answering news-related queries. The two companies have struck what Axios describes as a “multi-year deal” that will allow Meta to use Reuters content for its chatbot responses. The deal is the first of its kind for Meta, in an era of news outlets agreeing to provide their content to AI companies.

“We’re always iterating and working to improve our products, and through Meta’s partnership with Reuters, Meta AI can respond to news-related questions with summaries and links to Reuters content,” Meta spokesperson Jamie Radice said in an email. “While most people use Meta AI for creative tasks, deep dives on new topics or how-to assistance, this partnership will help ensure a more useful experience for those seeking information on current events.”

“We can confirm that Reuters has partnered with tech providers to license our trusted, fact-based news content to power their AI platforms. The terms of these deals remain confidential,” spokesperson Heather Carpenter told The Verge in an email.

Why OpenAI's o1 Is A Huge Deal | YC

o1 makes huge leaps forward in domains like mathematics and coding and scores big on many of the toughest benchmarks. The secret to its success? It represents an entirely new class of models designed to reason or “think through” complex problems.

General Catalyst Lands A Massive $8B In New Capital For Funds In AI, and More

General Catalyst — whose investments include Airbnb, Instacart and Mistral AI — has raised $8 billion in new capital as it looks to “turbocharge” its investments in sectors like AI, defense, climate, healthcare and fintech.

The firm’s latest fund — Fund XII — will see about $6 billion of the new capital, including around $4.5 billion for its core funds focused on seed and growth equity, and $1.5 billion for its creation strategy. The remaining $2 billion will go toward separately managed accounts.

“We are ready to be the company that drives transformations, global resilience and applied AI for the world,” wrote Hemant Taneja, CEO and managing director at General Catalyst, in a blog announcing the new capital. “We are powered by early-stage venture capital at our core and excited to dream bigger and co-create with our GC Famiglia of founders, business leaders and policymakers to expand what’s possible.”

More about General Catalyst’s $8B in new capital for FundXII

Lecture Series in AI: “How Could Machines Reach Human-Level Intelligence?” | Meta’s Yann LeCun

Animals and humans understand the physical world, have common sense, possess a persistent memory, can reason, and can plan complex sequences of subgoals and actions. These essential characteristics of intelligent behavior are still beyond the capabilities of today's most powerful AI architectures, such as Auto-Regressive LLMs.

Yann will present a cognitive architecture that may constitute a path towards human-level AI. The centerpiece of the architecture is a predictive world model that allows the system to predict the consequences of its actions. and to plan sequences of actions that that fulfill a set of objectives.

The objectives may include guardrails that guarantee the system's controllability and safety. The world model employs a Joint Embedding Predictive Architecture (JEPA) trained with self-supervised learning, largely by observation.

Thats all for today, however new advancements, investments, and partnerships are happening as you read this. Subscribe today, so you don’t miss any AI related news.