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Fidelity

Fidelity marks down the value of Twitter stake again

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According to a monthly declaration released by the investment company on Sunday, a Fidelity fund has reduced the worth of its holding in Twitter for the third time after Elon Musk paid a total of $44 billion to acquire the social networking site in October.

As of April 28, the market value of the interest of Fidelity Blue Chip Growth Fund in Twitter, which is currently managed by Musk’s X Holdings Corporation, was close to 6.55 million dollars, down from 7.8 million dollars on January 31 and relatively close to 8.63 million dollars at the end of November.

Fidelity
Image Source: economictimes.indiatimes.com

As Twitter is struggling to recover from a decline in revenue from advertising alongside navigating a reorganization that entailed large job cuts, Musk selected previous NBCUniversal advertising head Linda Yaccarino as the brand’s new chief executive officer of Twitter a few weeks ago.

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Elon Musk would be shocked to learn that over fifty percent of the original Twitter Blue customers who paid eight dollars each month are currently not subscribing and have stopped using the Blue Ticks.

Out of the initial 150,000 or more Twitter Blue users, merely around 68,157 have persisted in keeping their paid memberships as of April 30 based on a Mashable report.

According to the study, few Twitter Blue subscribers continue about after signing up, using data gathered by freelance researcher Travis Brown.

The report’s statistics have not yet received any comments from Musk or Twitter.

A total of 150,000 people initially subscribed to Twitter Blue during a short period after its November rollout, according to reports from the previous year.

The micro-blogging platform also temporarily disabled new signups for about a month “shortly after those users subscribed as a result of accounts signing up for Blue with the intent to impersonate major brands on the platform”.

Source: economictimes.indiatimes.com

The survey concludes that around 81,843 people, or 54.3 percent, of those using Twitter who first enrolled for Blue, have terminated their subscriptions.

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Additionally, 2,270 premium Twitter Blue members who have no followers at all were counted.

As reported by Brown, there are at present 444,435 paid customers to Twitter Blue. Nearly 220,132 people, or roughly fifty percent of all paid Twitter customers, have fewer than 1,000 followers.

On April 20, when Musk eventually deleted all historical, verified profiles with blue tick marks but permitted select celebs to keep them, chaos reigned on Twitter.

Nvidia

Why are Nvidia shares soaring?

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Tuesday saw Nvidia Corp (NVDA.O) reach a trillion-dollar market valuation as shares rose following a strong earnings report that made Wall Street reevaluate the chipmaker’s potential bonanza from artificial intelligence growth.

The $1 trillion valuation of Nvidia places it behind Apple, Microsoft, Alphabet, and Amazon as the fifth most valuable U.S. firm. The gaming chip manufacturer Nvidia recently made a shift to the data center industry.

Nvidia
Image Source: digitalnationaus.com.au

When gaming and cloud adoption exploded during the pandemic and cryptocurrency aficionados began using the company’s chips to mine coins, the company’s business grew quickly. In the fiscal year that concluded on January 29, the company’s data center chip division generated more than 50% of its sales.

Also Read: Chip giant Nvidia nears trillion-dollar status on AI bet

This year, generative AI has become popularised by the ChatGPT chatbot, which went viral. The technology generates new content, such as poems, photos, and even computer code, using enormous amounts of pre-existing data.

The two major companies in the field, Microsoft and Alphabet Google think that generative AI will revolutionize the way that work is done. As they compete to rule the market, the two have rushed to incorporate technology into their internet search engines and efficiency programs.

By 2030, according to Goldman Sachs analysts, American investment in AI may account for close to 1% of the nation’s GDP. Powerful chips known as graphics processing units (GPUs) are used in huge computers that process data and power generative artificial intelligence. Analysts estimate that around 80% of GPUs are made by Nvidia.

The specialized type of math required for AI computation can be handled very effectively by GPUs. Generic central processing units, on the other hand, are less effective in handling a wider range of computing activities.

As an illustration, thousands of Nvidia GPUs were used to build OpenAI’s ChatGPT. Elon Musk, the CEO of Tesla, also purchased GPUs from Nvidia for his AI business, according to a Financial Times report from April. Advanced Micro Devices and internal AI processors produced by businesses like Amazon, Google, and Meta Platforms are among Nvidia’s key rivals.

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Nvidia is a leading manufacturer of GPUs, which are widely used in gaming, data centers, and AI applications. The demand for GPUs has been increasing as more industries and technologies rely on parallel processing capabilities for tasks such as AI training, deep learning, and high-performance computing.

Nvidia has been at the forefront of the AI boom, leveraging its GPUs to accelerate AI and machine learning workloads. The company’s GPUs are particularly well-suited for training deep neural networks, which require intensive computational power. With the rapid growth of AI applications across industries, Nvidia’s GPUs have become a crucial component of AI infrastructure.

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Nvidia

Chip giant Nvidia nears trillion-dollar status on AI bet

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In among of the biggest single-day surges in value around a U.S. stock, Nvidia Corporation’s shares soared 24 percent following its excellent income prediction revelation on Thursday that Wall Street had not yet priced in the AI technology’s ability to change the world.

The rise surpassed doubled the price of the stock during the year and brought the overall market worth of the chip designer up to over 939 billion dollars, which is a rise of roughly 184 billion dollars.

Nvidia
Image Source: businesstoday.in

Thus, Nvidia is now almost two times as big as TSMC, the second-biggest chip manufacturer in Taiwan. It is only behind Apple Inc., Alphabet Inc., Microsoft Corp., as well as Amazon.com Inc. in terms of US market worth.

Also Read: OpenAI’s ChatGPT app tops 500K downloads in just 6 days

The positive news also prompted a surge in the chip manufacturing sector and for businesses with a strong focus on artificial intelligence, propelling share markets from Japan to Europe. While the stock of Advanced Micro Devices, Inc. closed 11 percent better, the other Tech Giant companies ended in the range of 0.6 percent and 3.8 percent higher in the US.

consequently, the business’s strength in the marketplace for the processors that power ChatGPT along with many other services like it, experts hurried to increase their price objectives on Nvidia stock, including 27 raising their opinion that all paths in AI led to it.

Over the past twelve months, the average price goal has nearly doubled. Nvidia’s worth is expected to be near that of Alphabet under the maximum scenario, a 644.80 dollar price goal from Elazar Advisors, which values the company at 1.59 trillion dollars.

“In the 15+ years we have been doing this job, we have never seen a guide like the one Nvidia just put up with the second-quarter outlook that was by all accounts cosmological, and which annihilated expectations,” Stacy Rasgon of Bernstein said.

Source: money.usnews.com

The 5th most valuable US firm, Nvidia, forecast a quarterly profit on Wednesday that was over 50 greater than the usual Wall Street prediction & stated that it might have a greater number of AI chips available in the second half to satisfy an increase in consumption.

As generative artificial intelligence is included in each good and service, CEO Jensen Huang estimated that a total of one trillion dollars of present equipment in data centers would need to be substituted with AI chips.

The outcomes are encouraging for giant Tech firms, who have moved their attention to artificial Intelligence in the belief that the technology can boost need at a time when their key revenue generators, cloud computing as well as digital advertising, are experiencing force from an economic downturn.

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According to several analysts, Nvidia’s outcomes demonstrate that the generative artificial intelligence surge may be the next major economic catalyst.

“We’re really just seeing the tip of the iceberg. This really could be another inflection point in technological history, such as the internal combustion engine – or the internet,” said Derren Nathan, head of equity analysis at Hargreaves Lansdown.

Source: money.usnews.com
Diablo 4

Is Diablo 4 on Xbox Game Pass?

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Diablo 4 will not be supported on Xbox Game Pass. The Diablo games (and the majority of the rest of the Activision Blizzard catalog) are not included in Microsoft’s value-driven gaming subscription, which spans the Xbox console, Windows PC, and the cloud.

Diablo 4 may be preordered, allowing gamers who are incredibly eager for the impending action-RPG masterpiece to guarantee they will have access as soon as it launches on June 6, 2023.

Diablo 4
Image Source: dexerto.com

There are three editions available, with most of the variations being some extra cosmetics for Diablo 4 (and even previous Diablo franchise games). To entice potential players, the Ultimate Edition does have one noteworthy bonus. The early access period for Diablo 4 Ultimate Edition can last up to four days.

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Diablo 4 is the highly anticipated action role-playing game developed and published by Blizzard Entertainment. It is the fourth main installment in the Diablo series, following Diablo III, which was released in 2012. It is set in the dark and gothic world of Sanctuary, where players will once again battle against the forces of evil.

The game features an open-world environment with various regions to explore, including dungeons, towns, and outdoor areas. Players can choose from several classes, each with unique abilities and playstyles, such as Barbarian, Sorceress, and Druid.

Diablo 4 aims to bring back the dark and gritty atmosphere of the earlier Diablo games while introducing new features and improvements. The game is expected to have a more interconnected and shared world, allowing players to encounter each other while exploring the game’s vast landscape.

It will also feature cooperative play, allowing players to team up with friends or other players to tackle challenging dungeons and bosses.

Microsoft is currently aiming to purchase significant game maker Activision Blizzard in a huge $69 billion deal. The agreement may have significant effects on the Xbox ecosystem, including placing Activision Blizzard’s entire collection under the Xbox brand.

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It implies that there is still a chance that Diablo 4 and the rest of the Diablo series will someday be added to the Xbox Game Pass family of subscription services. However, that is still a long way off from happening.

Activision Blizzard’s acquisition by Microsoft still needs to be completed (and there are other roadblocks in its path), after which Microsoft must fully integrate Activision Blizzard into the business before the process of adding those games to Xbox Game Pass can start.

AI

Will startups have a shot in the enterprise AI race?

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Artificial Intelligence (AI) has become a transformative force across industries, enabling businesses to automate processes, gain valuable insights, and make data-driven decisions. The enterprise AI market is highly competitive, with tech giants investing heavily in research and development.

Startups can focus on developing artificial intelligence solutions that cater to specific industry needs or address niche markets. By understanding the unique challenges faced by enterprises in different sectors, startups can create targeted AI applications that provide substantial value.

AI
Image Source: insider.com

Unlike large corporations, startups can adapt to changing market demands rapidly and experiment with new AI technologies and algorithms. This flexibility allows startups to stay ahead of the curve and offer cutting-edge solutions.

Established enterprises often face challenges in adopting AI due to legacy systems and organizational complexities. Startups can bridge this gap by partnering with established companies, offering their expertise and AI solutions as a service.

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Collaborations can provide startups with access to resources, industry knowledge, and a wider customer base. Startups typically operate with limited financial resources, making it challenging to compete with tech giants who have substantial R&D budgets.

Developing and scaling AI models requires significant computational power and data, which can strain a startup’s resources.

AI talent is in high demand, and established companies often have an advantage in attracting top-notch AI researchers and engineers. Startups may face difficulty in hiring and retaining skilled professionals, hindering their ability to develop complex AI models and algorithms.

Enterprises are cautious when adopting artificial intelligence solutions, preferring established vendors with proven track records. Startups must build trust and establish credibility by showcasing successful use cases, partnering with industry leaders, and ensuring the security and ethical use of AI technologies.

Startups should prioritize providing seamless user experiences and delivering tangible value to enterprises. Developing intuitive interfaces, robust customer support, and reliable artificial intelligence systems can help startups differentiate themselves in the market.

Forming strategic alliances with larger enterprises or industry-specific organizations can enhance a startup’s credibility and reach. Such partnerships can lead to access to larger customer bases, shared resources, and knowledge exchange.

Open-source AI frameworks and tools can significantly reduce development costs for startups. Leveraging open-source technologies enables startups to build on existing foundations and accelerate their development cycles.

Addressing data privacy concerns is crucial for startups to gain the trust of enterprises. Implementing robust security measures, complying with data protection regulations, and transparently communicating privacy practices can help alleviate concerns.

While the enterprise artificial intelligence market is fiercely competitive, startups do have a shot at success. By leveraging their agility, innovation, and focus on niche solutions, startups can carve out a space for themselves.

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However, they must overcome challenges such as limited resources, talent acquisition, and building trust. By adopting effective strategies, such as prioritizing user experience, fostering collaborations, leveraging open-source tools, and addressing data privacy concerns, startups can position themselves as viable contenders in the enterprise AI race.

As artificial intelligence continues to evolve, startups have the potential to disrupt traditional market dynamics and make significant contributions to the enterprise AI landscape.

ChatGPT

OpenAI’s ChatGPT app tops 500K downloads in just 6 days

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The ChatGPT app from OpenAI has had a fantastic start despite only being available on iOS and in the United States until today’s extension to 11 more international regions.

In its first six days of availability, the app has already topped half a million downloads, according to a recent report by app intelligence firm data.ai. It is only surpassed by the debut of the Trump-backed Twitter clone, Truth Social, in February 2022 in terms of new app releases that have had the highest performance over the course of this year and the previous year.

ChatGPT
Image Source: techcrunch.com

The App Store has become flooded with third-party apps identifying themselves as “ChatGPT” or “AI chatbot” as customer demand for AI chatbots increased.

Despite the fact that many of these were really “fleece are,” aiming to deceive users into paying for pricey memberships to access their AI, a collection of top applications nevertheless managed to generate millions in revenue from users.

It might have been more difficult for an official ChatGPT app to gain popularity given the competitive environment among AI chatbots. In actuality, though, such was not the situation.

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The majority of its competitors, including other well-known AI and chatbot apps as well as Microsoft’s Bing and Edge apps, which provided some of the first important third-party integrations of OpenAI’s GPT-4 technology, were outperformed by the ChatGPT app from OpenAI.

Though Bing and Microsoft Edge undoubtedly benefited from ChatGPT’s initial popularity, they saw 340,000 and 335,000 downloads on iOS and Android, respectively, in their best five-day periods in February. However, OpenAI’s ChatGPT app easily outperformed them, producing 480,000 installs in the initial five days of its United States launch, when the app was iOS-only

The app outperformed other top AI chatbot apps in the U.S., many of which had generic names to take advantage of consumer searches for terms like “AI” and “chatbot” on the App Store, according to Data.ai’s data. When compared to other apps’ best five-day periods throughout the App Store and Google Play in 2023, OpenAI’s ChatGPT came in at number five in terms of downloads.

According to the data, “Chat with Ask AI,” the sole app that outperformed it, got 590,000 installs between April 4 and 8, 2023, as opposed to ChatGPT’s 480,000 downloads between May 18 and 22. Even though it has only been launched for a week, ChatGPT is already among the top five AI chatbot apps in terms of downloads in May 2023 in the United States.