Chinese firms’ $5B AI chip order

Today we are covering…

🇨🇳 China firms order $5B in NVIDIA chips in AI move

🤖 Spotify’s AI DJ spreads far and wide, Google rolls out AI-powered code editor, and more AI innovations

🤝 Microsoft, Aptos Labs team up to enhance AI-blockchain integration

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China firms order $5B in NVIDIA chips in AI move [Link]

Chinese internet giants are in a scramble to buy Nvidia chips to power their generative AI projects, amassing a total of $5B in recent orders.

Breaking down the details:

• TikTok parent firm ByteDance, Baidu, Tencent, and Alibaba acquired $1B worth of orders of 100,000 A800 processors to be delivered this year.

• They also bought a further $4B worth of graphics processing units (GPUs) for delivery in 2024.

• While an Nvidia spokesperson wouldn’t divulge more information about the FT report, they confirmed that consumer internet companies as well as cloud providers “invest billions of dollars on data center components every year, often placing orders many months in advance."

This development comes amid the heated race between the United States and China for AI supremacy, where the Biden administration last October issued rules to freeze China's semiconductor industry in place while the US invests billions of dollars in subsidies into its chip industry.

Just on Wednesday, Biden signed an executive order narrowly prohibiting some US investments in sensitive tech in China and requiring government notification of funding in other tech spaces.

Spotify’s AI DJ spreads far and wide, Google rolls out AI-powered code editor, and more AI innovations

• Spotify's AI-powered feature, DJ, expands to more users across Australia, New Zealand, and Europe. The feature, where Sonantic AI powers DJ’s voice, is designed to offer an experience similar to one you'd have while listening to a radio show, including music and commentary from a radio presenter on the artist and the song playing. Spotify Premium subscribers can access the feature.

• Google announces a new cloud-based integrated development environment (IDE) called Project IDX, which equips software developers with AI tools and capabilities to build applications more efficiently. A key Project IDX benefit is providing a consistent development environment accessible from any device, eliminating common pain points like ensuring dev environments are in sync across machines.

• NVIDIA introduces AI Workbench for enterprises, offering a unified platform to develop, test, and customize pre-trained AI models. The new toolkit seeks to solve challenges like technical expertise, data access, security, and workflow complexity by streamlining the AI development process.

Microsoft, Aptos Labs team up to enhance AI-blockchain integration [Link]

Aptos Labs, led by former Facebook employees, is partnering with Microsoft to enhance its blockchain project.

The collaboration focuses on leveraging Microsoft's infrastructure to introduce advanced tools and services that combine blockchain and AI tech.

Highlights of this collaboration:

• Launching Aptos Assistant, a chatbot powered by Microsoft's Azure OpenAI Service, to provide users with information about the Aptos ecosystem and assist developers in creating smart contracts and decentralized apps (dApps).

• Integrating Move, Aptos' native programming language, into GitHub's Copilot service, an AI programming tool. This will facilitate contract development, unit testing, formatting, and prover specifications.

Both companies are working together to explore the potential of blockchain-based financial services, including asset tokenization, payment solutions, and central bank digital currencies. Aptos intends to enhance network security by operating validator nodes on Microsoft Azure.

Small businesses find success with AI: Survey [Link]

The accessibility of gen AI tools like ChatGPT is on the radar of small businesses, and a recent survey by Constant Contact underscores the ongoing impact of AI adoption in this sector.

Key findings from the survey:

• Reported success: 91% of small business owners utilizing AI tools express that it has contributed to their success.

• Cost savings and efficiency improvements: Automation of tasks using AI has resulted in reduced costs and enhanced efficiency. 60% of businesses using AI have experienced time savings, with over ⅓ saving more than 40 minutes weekly.

• Anticipated savings: 28% of respondents foresee saving at least $5,000 within the next year from implementing AI.

• Growing interest: Among businesses not yet using AI, 74% express interest in adopting AI or automation while 55% report increased interest in the tech over the last 6 months.

Quick Hits

🎮 Gaming

• Decentraland is embracing AI to power up the metaverse, letting you chat with a brainy 'bot or a buff Doge bodybuilder. (Link)

• Roblox shares plummet nearly 20% as it misses estimates for Q2 bookings amid waning demand for its online games and intensifying competition. (Link)

• Tapping into gen AI: The Roblox CEO’s vision for 3D creation is a text prompt that creates whatever items you ask for. (Link)

• Aavegotchi releases its all-new Margin’s Blade webcomic. (Link)

• Saudi Pro League signs deals with broadcasters for rights to screen its games in 170+ countries. (Link)

🕶 Fashion

• Parsons continues its Roblox partnership, enabling its students to collaborate for both physical and digital selling. (Link)

• Doodles x Crocs: Arriving in Aug, the NFT project teams up with the footwear giant for wearables and “jibbitz” adornments. (Link)

• Fashion label PHANTACi partners with MMORPG and retail-focused metaverse Highstreet to roll out PHANTACi Peninsula. (Link)

• ChannelX World takes place on Oct 11 to feature expert talks on operating marketplaces, gen AI in the fashion world, scaling a fashion business, and more. (Link)

• Reva-Ifeoma Ochuba relaunches her eponymous brand and talks about world domination, dabbling in crypto, and the wild dogs of Tbilisi. (Link)

• Using modern tech in the name of sustainability, the Istanbul Fashion Connection connects with Turkish manufacturers from across industries. (Link)

🏀 Sports

• Experience the FedExCup Playoffs through PGA TOUR Scramble on Roblox. (Link)

• How virtual stadiums bring the thrill of sporting events to your living room with AR metaverse. (Link)

• This Virginia Beach smart fitness studio counts on AI to prevent sports and fitness injuries. (Link)

• AI analyzes vast amounts of data to identify patterns and trends that can help athletes and teams optimize their performance. (Link)

• Professional Bull Riders (PBR) debuts an AI-based skycam system for more precise judging as well as timing. (Link)

🎥 Media & Entertainment

• Google brokers a deal with Universal Music to license artists’ voices and melodies for AI-generated songs. (Link)

• Coca-Cola and Friends With Benefits headline Coinbase’s OnChain Summer web3 festival. (Link)

• The new crypto reality show The Next Crypto Gem aims to capture crypto culture and educate viewers on the basics of blockchain. (Link)

• Journalists and news orgs call for regulations to address rapidly advancing AI challenges. (Link)

• Musician and producer Grimes of Elon Musk fame earned more money from her NFTs in 2021 than in her entire music career. (Link)

• PUNX Studios initiates a funding campaign to bring the historical AI-enabled animated series 333: the rise of Heroes to life. (Link)

🖼 Art

• Google unleashes the redesigned Arts & Culture app with new AI-generated postcards, a play tab, and a TikTok-like “Inspire” feed. (Link)

• Why did Y00ts and DeGods migrate from Polygon to Ethereum and return the $3M grant received from the Ethereum layer 2? (Link)

• Dave Krugman’s ROLLS: The convergence of film photography and blockchain. (Link)

• Are AI models championing diversity or killing an art? (Link)

• Jack Butcher and his Visualize Value team release Infinity Checks, an NFT collection with an infinite supply and a fixed price. (Link)

🤖 AI

• Google’s AI-powered flight routes assist American Airlines in reducing contrails - white lines left behind by planes - and global warming impact. (Link)

• The White House launches a multimillion-dollar AI-based contest to secure US government infrastructure from malicious hackers. (Link)

• AI is the theme of the next World Day of Peace, the Vatican announces. (Link)

• 4 ways real estate agents and brokers can use AI lucratively. (Link)

• DBS Bank uncovers lessons learned in integrating AI into operations, lauding success beyond model accuracy. (Link)

• GoodNotes unveils GoodNotes 6: Enhanced Apple Pencil support, AI handwriting recognition, digital stationery marketplace, and math education module. (Link)

• Agent Copilot is a new AI assistant for customer service and sales operations. (Link)

💸 Funding & Partnerships

• Microsoft partners with Aptos Labs to use blockchain for enhanced AI capabilities. (Link)

• British department store company John Lewis launches a $127M Google Cloud partnership to harness advanced AI and ML. (Link)

• Automated cybersecurity and penetration testing solutions provider Horizon3.ai pulls in $40M from a series C funding round. (Link)

• Tech veteran Chris Messina and writer-podcaster Brian McCullough launch a new $15M fund aimed at AI startups. (Link)

• Blockchain security firm CUBE3.AI secures $8.2M to launch its AI-powered blockchain security app. (Link)

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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.

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