TECH BRIEF

Meta's Advanced AI Chips Promise Faster Training, Improved Efficiency, and Threefold Performance Boost (3 minutes read)

Meta is promising more powerful AI chips, with the next generation set to significantly speed up the training of its ranking models. Named Meta Training and Inference Accelerator (MTIA), the aim is to make training more efficient. The new chip mainly trains ranking and recommendation algorithms, but Meta plans to extend its capabilities to train generative AI. Early results show the new chip performs three times better than its predecessor. These developments are in line with rising demands for powerful chips to run AI models, fuelling a market currently dominated by Nvidia.

ByteDance Outperforms Tencent: Profits Soar by 60%, Revenue Surpasses Rival (7 minutes read)

ByteDance, the owner of TikTok, saw its 2023 profits soar by approximately 60%, reaching over $40 billion in earnings before interest, tax, depreciation, and amortization. Revenue also increased to nearly $120 billion, surpassing competitors Tencent and Alibaba for the first time. The significant growth is attributed to successful expansions into international e-commerce, despite looming regulatory challenges in the U.S. ByteDance is directing its focus towards generative AI and further developing its ecommerce business.

TSMC Dominates Market with 16% Boost, $6B Grant Amid AI Surge (14 minutes read)

Taiwanese semiconductor giant TSMC has seen its stock soar following a 16.5% quarter-on-quarter revenue surge and a $11.6 billion grant from the Biden administration's CHIPS Act. The firm's unique focus on manufacturing, essentially acting as a foundry for chip designers like Nvidia and Intel, has allowed it to corner 92% of the world market for advanced chips. Despite competition from Intel and GlobalFoundries, TSMC's impressive head start and increased semiconductor demand forecast may secure its market dominance.

Dow Plummets 422 Points as Rising Inflation Shakes Fed Rate Predictions (6 minutes read)

US stocks suffered a sharp fall on Wednesday as inflation came in higher than predicted, causing the Dow to slump by over 400 points. Inflation increased by 3.5% year-over-year in March, higher than the projected 3.4%. This has led to speculation about reduced chances of Fed rate cuts this year. Major banks have begun reconsidering their rate cut forecasts and the newly released Fed's March meeting minutes reveal caution towards the inflation trend.

Microsoft's New AI Tools for Windows, Cloud to Debut in May (7 minutes read)

Microsoft is set to launch new artificial intelligence tools for PCs and cloud at its annual Build conference. The company's AI head, Mustafa Suleyman, and CEO, Satya Nadella will introduce features aiming to make AI an integral part of every PC in 2024. Upcoming features enhance Windows user experience and AI safety mechanisms in Azure, discussing application integration and Arm-based NPUs for AI.

Generative AI Startups Attract Fervorous $2.2bn Venture Capital Flow (1 minute read)

Venture capitalists funneled over $2.2 billion into generative AI startups in Q1, a boost of over 11% from Q4. Notable investments were made in applications like humanoid robots and voice generators rather than chatbots. Figure, developing humanoid robots with incorporated AI, raised a staggering $675 million from renowned bigwigs like Microsoft, OpenAI, Nvidia, and Bezos Expeditions.

Amazon to End Monthly Payouts for Alexa Skill Development by 2024 (2 minutes read)

Amazon will cease monthly payouts to developers for creating Alexa skills as of June 30, 2024. This move corresponds with the company's broader cutbacks around Alexa. Fewer than 1% of Alexa developers will be affected as they were utilizing these programs. Developers can still monetize via in-skill purchases, but this will not replace monthly payments from Amazon.

Roblox Explores User Reception to In-Game Advertising (4 minutes read)

Roblox's latest venture explores the potential of integrating ads into their gaming platform. Considering the enthusiasm of users in battling tornadoes and raising pets, the company questions if the same engagement can extend to viewing ads.

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