OpenAI and NVIDIA's new AI model

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🤝 OpenAI and NVIDIA’s make pact on AI model with 10M AI GPUs

📈 Google profits rise amid AI race

⚡ Meta adds Quests to Horizon Worlds

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OpenAI and NVIDIA’s make pact on AI model with 10M AI GPUs [Link]

OpenAI and giant chip maker NVIDIA are reportedly making a serious deal for a new AI, a model believed to have the capacity to connect 10M AI GPUs together to set new standards for processing power in the age of AI.

NVIDIA has already supplied about 20K AI GPUs to OpenAI for AI development, which is expected to further expand. In 2022, the chip leader sold 30.34M GPUs to end users, indicating a massive demand similar to the one during the pandemic.

The processing power of such systems is believed to benefit a wide range of industries and applications, from new medical treatments to metaverse development.

Google profits rise amid AI race [Link]

Google’s parent company Alphabet has beaten earnings expectations for its 2nd-quarter profits amid the steady demand for its cloud services and a rebound in advertising in an AI-crazed environment.

• Google Cloud revenue rose 28% to $8.1B, besting expectations of $7.75B.

• Ad sales for Google's YouTube video service unit climbed 4.4% to $7.67B. Advertising is coming to the company's revamped search, and 80% of advertisers use at least 1 AI-driven search product at present.

• Alphabet reported net profit of $1.44 per share for the April-June period, versus estimates of $1.34 per share.

According to analysts, Google delivered “fantastic earnings per share” and exceeded expectations when investors wondered whether it can keep up with other tech giants - Microsoft shares were slightly down while Meta’s rose as much as 2% on Tuesday - during the current AI frenzy.

These results are believed to be signs of Google consolidating itself as a “leading force” in the cloud space, with room to expand in AI.

Alphabet has also announced that its long-time CFO Ruth Porat would take on a new role while it seeks a new finance chief. Porat is set to become chief investment officer and president by Sept 1.

Meta adds Quests to Horizon Worlds [Link]

In a bid to keep users returning to the metaverse, Meta has rolled out Quests to users on Horizon Worlds, the VR live-interactive experience available on its Meta Quest VR headset.

More details on these quests and rewards:

• Over the spring, Meta started testing quests via the game Giant Paddle Mini Golf and two more called Arena Clash and Bad Roommates, with rewards such as new clothing choices for avatars.

• Main quests include "Try on a clothing avatar reward you've earned" and "Open your backpack and change your emote.”

• Quests are available in the Worlds Menu, each noting the reward to be received after completion.

Metaverse sets tone for business travel’s future [Link]

A report by Booking.com for Business, titled The Future of Business Travel, offers insights into the next 30 years of travel amid the rise of the metaverse and virtual worlds.

• AR is expected to rise in 2027 - the same year as “space hotels” - as AR is currently thought to be limited, lacking a wide field-of-view, and having resolution, battery, and 3D sensing issues.” By 2027, users are believed to have access to “unconstrained, immersive AR experiences and the associated advantages for travel professionals.”

• With better accessibility, affordability, and popularity among consumers, VR is touted as more popular. It ranks 3rd among most-searched business travel trends, with searches including “hotel metaverse” and “hotel virtual events.”

• The authors predict blockchain will become standard in hotels the year before they expect AR kicking off, as well as guest comfort and energy efficiency to be managed and optimized by AI in most hotels around the beginning of the next decade.

Quick Hits

🎮 Gaming

• Gamefam, Roblox, and Warner Music Group (WMG) collaborate for an upcoming VR concert to showcase metaverse events. (Link)

• Video: Super League Gaming CEO Ann Hand discusses market data projections for in-game advertising, expected to reach $56B by 2024, and outlook for Meta ahead of the company's earnings. (Link)

• Uplatform explores how the metaverse could revolutionize the iGaming industry. (Link)

• Stanley Pierre-Louis discusses how gaming can rise above its stereotypes. (Link)

• Sony’s eye-tracking tech patent holds potential for a gaming revolution. (Link)

• Colopl subsidiary Brilliantcrypto unveils blockchain game with innovative "proof of gaming" concept. (Link)

🕶 Fashion

• Could generative AI solve fashion’s excess stock problems? (Link)

• SilkFred unveils Fred, an AI personal shopping experience offering curated looks from 900+ indie brands. (Link)

• Bo+tee faces backlash for posting a whitewashed “Barbie” photo of black model, using an AI. (Link)

• Winners at the tech-savvy 2023 Glossy Fashion Awards as it celebrates sustainability, inclusivity, and personalized shopping experiences. (Link)

• Thekiso Mokhele’s AI photos of Bree Street explosion elicit mixed reactions on social media. (Link)

• Here’s a holographic virtual wear system based on web3. (Link)

🏀 Sports

• Shaquille O’Neal shines light on elderly versions of Kobe Bryant and LeBron James through AI. (Link)

• UFC champion Khabib Nurmagomedov and Magomed Kurbaitaev’s Gameplan take on a new project to transform the sports metaverse. (Link)

• Look back: The interactive MLB virtual ballpark debuts at 2023 All-Star Game’s celebrity softball game in Seattle. (Link)

• Former NBA All-Star Baron Davis is the 1st pro athlete to join Fan Owned SailGP Team, a new initiative allowing up to 1,950 investors to become owners. (Link)

• In the UAE, e& universe is touted as the 1st metaverse in the region to launch unique zones for virtual personalized sports, concerts, and more. (Link)

🎥 Media & Entertainment

• Viber partners with ICONIQ to introduce Kuki, an AI character that’s your next entertainment companion. (Link)

• Bebe Rexha rocks the metaverse with a Roblox concert this weekend. (Link)

• Radio Piekary, a station in Poland, launches the country's 1st AI-hosted radio show. (Link)

• This TikTok chef whips up a real-life LA restaurant after finding virtual success. (Link)

• Discover the perks for users and businesses on the Utherverse metaverse as it launches its closed web3 beta. (Link)

• Could Sphere Immersive Sound be the world's most advanced audio system? (Link)

• VeeFriends exclusively partners with Squishmallows to bring 12-inch VeeFriends plush characters to life. (Link)

🖼 Art

• A toast to 50 years: Graham’s unveils limited NFT Port cases. (Link)

• Kartoon Studios sells 8,000+ Stan Lee digital collectibles for $120K in record-breaking revenue. (Link)

• Bybit and Oracle Red Bull Racing collaborate on the digital art series Velocity. (Link)

• Swiss private bank Julius Baer presents a virtual exhibition of winning artworks from the 2nd edition of the Julius Baer Next Generation Art Prize. (Link)

• AI tool Midjourney paints dream destinations in the style of iconic artists. (Link)

• AI art generators impress VFX artists with productivity and creativity, while raising concerns over entry-level job displacement. (Link)

🤖 AI

• Vietnam’s tax agency turns to AI for evasion detection and tax payment enforcement on global tech giants Facebook, Microsoft, and Netflix. (Link)

• Cutting-edge AI can enhance stroke patient treatment selection. (Link)

• Rad-Aid reports success in deploying chest X-ray AI to diagnose tuberculosis. (Link)

• New app Decorify employs gen-AI to transform customers’ room photos into various styles. (Link)

• OpenText enhances its software portfolio with AI capabilities and Micro Focus integrations. (Link)

• The Mayor of London awards AI firms with prize money for cost-of-living services. (Link)

💸 Funding & Partnerships

• Delabs secures $4.7M investment to develop upcoming games, including Rumble Racing Star, and further marketing initiatives. (Link)

• Mobilo secures $4.1M in seed funding with its smart business cards that take the pain out of networking. (Link)

• Se7en partners with App Swim to expand its mobile gaming portfolio and strengthen its owned and operated app portfolio. (Link)

• 2MR Labs completes its investment and partnership series to drive web3 adoption across Asia. (Link)

• Advantech partners with leading robotics engine platform MOV.AI to accelerate autonomous mobile robot development. (Link)

• Streamline AI partners with Clearlaw to enhance contract review. (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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