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Need to Know

^{Must know things happening in AI}

Nvidia Rides AI Boom to $1 Trillion Value

Nvidia's CEO, Jensen Huang, made an exciting appearance at a tech show in Taiwan after staying silent for four years. He declared that we are entering a new era of computing powered by artificial intelligence (AI).

The company is now producing a super powerful AI computer called DGX GH200, which uses advanced Nvidia Grace Hopper Superchips.

Huang happily mentioned that big companies like Google Cloud, Meta, and Microsoft will be among the first to get access to it. Nvidia's goal is to help other tech companies create more advanced AI projects.

This news has also led to a significant increase in Nvidia's stock value due to the high demand for AI tools, lifting its market value close to $1 trillion (€933.65 billion).

News execs weigh deals with AI companies

News companies are exploring ways to structure deals with artificial intelligence firms that could help them reap the benefits of AI’s explosive consumer adoption, rather than be overcome by it.

A regulatory approach to managing deals between AI companies and news firms seems unlikely in the near term, if at all, leaving the industry to negotiate on behalf of itself.

News Corp. CEO Robert Thomson said that based on his experience in dealing with Washington, “There won’t be any coherent, cogent response in a regulatory way, so … it’s up to us — journalists to write about it, to explain it, and media companies to advocate where appropriate.”

The most pressing problem the media industry is facing in the wake of AI’s explosion is the impact it will have on its traffic, particularly from search engines.

In the Know

^{Quick AI News Headlines}

• The 'Magnificent Seven' tech stocks drive markets higher as AI mania grips investors. As AI mania accelerates into the summer months, a tale of two markets facing investors is becoming more extreme. The top seven Nasdaq 100 components are up $3.35 trillion this year, while the bottom 93 are up only $635 billion.

• US lawyer admits using AI for case research. The lawyer who used the tool told the court he was "unaware that its content could be false".

  ChatGPT creates original text on request, but comes with warnings it can "produce inaccurate information".

• Artificial intelligence could lead to extinction, experts warn. Dozens have supported a statement published on the webpage of the Centre for AI Safety. "Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war" it reads. But others say the fears are overblown.

• Wharton’s Jeremy Siegel predicts Big Tech boom fueled by A.I. Wharton professor and renowned economist Jeremy Siegel is bullish on a Big Tech boom fueled by artificial intelligence despite concerns of a bubble. He said that AI stocks have helped lift the S&P 500 and that it could become “a winner from the banking crisis.”

📸 AI Picture of the Day

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Midjourney art by Tatiana Tsiguleva

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