Author: Advanced AI Editor

(Bloomberg) — Huawei Technologies Co.’s secretive AI research lab has pushed back against accusations it relied on rivals’ models to develop its own Pangu platform, taking the unusual step of rebutting claims about its artificial intelligence efforts. Most Read from Bloomberg The Pangu Pro MoE is the world’s first model of its kind to be trained on Ascend chips — Huawei’s answer to Nvidia Corp.’s AI accelerators — the lab said in a WeChat post over the weekend. While the company employed open-source code — as is “common practice” — Huawei said it respected intellectual property and stuck closely to…

Tech and consultancy group Capgemini has agreed to buy US-listed WNS Holdings Ltd. for $3.3 billion (€2.8bn), according to a statement released on Monday. The French firm said that it is offering $76.50 per WNS share, representing a premium of 17% on the stock’s closing price on Thursday. This does not include WNS’ financial debt. Capgemini forecasts that the deal will boost its earnings per share by about 4% on a normalized basis in 2026, rising to 7% in 2027 after combining operations. The French firm plans to generate additional annual revenues of €100 million to €140mn by the end…

Chesnot / Getty Images Citi analysts raised their share price target on Nvidia, led by CEO Jensen Huang, to $190. Citi analysts raised their price target for Nvidia stock to $190 from $180, citing growing demand for sovereign AI. Nvidia is “involved in essentially every sovereign deal,” the bank said, as governments and other organizations invest heavily in AI. Last month, Nvidia CEO Jensen Huang announced multiple sovereign AI partnerships during a European tour. Nvidia (NVDA) is poised to take advantage of growing demand for sovereign artificial intelligence, Citi analysts wrote Monday, as governments and other organizations invest heavily in…

Mark Cuban said artificial intelligence is only in its early stages and has the potential to create massive wealth—possibly even the world’s first trillionaire. He uses AI extensively in his own life and sees it as a powerful tool for improving productivity and creativity. Still, he acknowledged the risks and limitations of AI. Some of the world’s largest and most successful tech companies were built at home: Steve Jobs founded Apple in the garage of his parents’ home, and Jeff Bezos also founded Amazon in his garage. And thanks to artificial intelligence, the trend of developing blockbuster companies at home…

Image Credits: Bryce Durbin / TechCrunch | Image Credits:Bryce Durbin / TechCrunch The data industry is on the verge of a drastic transformation. The market is consolidating. And if the deal flow in the past two months is any indicator — with Databricks buying Neon for $1 billion and Salesforce snapping up cloud management firm Informatica for $8 billion — momentum is building for more. The acquired companies may range in size, age, and focus area within the data stack, but they all have one thing in common. These companies are being bought in hopes the acquired technology will be…

(Bloomberg) — Apple Inc.’s top executive in charge of artificial intelligence models is leaving for Meta Platforms Inc., another setback in the iPhone maker’s struggling AI efforts. Most Read from Bloomberg Ruoming Pang, a distinguished engineer and manager in charge of the company’s Apple foundation models team, is departing, according to people with knowledge of the matter. Pang, who joined Apple from Alphabet Inc. in 2021, is the latest big hire for Meta’s new superintelligence group, said the people, who declined to be named discussing unannounced personnel moves. To secure Pang, Meta offered a package worth tens of millions of…

Hello and welcome to Eye on AI…In this edition…Meta snags a top AI researcher from Apple…an energy executive warns that AI data centers could destabilize electrical grids…and AI companies go art hunting.Last week, I promised to bring you additional insights from the “Future of Professionals” roundtable I attended at the Oxford University Said School of Business last week. One of the most interesting discussions was about the performance criteria companies use when deciding whether to deploy AI.The majority of companies use existing human performance as the benchmark by which AI is judged. But beyond that, decisions get complicated and nuanced.Simon…

(Bloomberg) — Meta Plaforms Inc. bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica SA, deepening the US tech giant’s commitment to the fast-growing smart glasses industry, according to people familiar with the matter. Most Read from Bloomberg Facebook parent Meta acquired just under 3% of the Ray-Ban maker, a stake worth around €3 billion ($3.5 billion) at market prices, said the people, who asked not to be identified because deliberations are private. Meta, based in Menlo Park, California, is considering further investment that could build the stake to around 5% over time, the people added, though those…

Despite the hype around AI-powered investing, some financial analysts say real-world intuition still matters more.Yuichiro Chino/Getty Images A top hedge fund quant says ChatGPT just isn’t ready to pick stocks like a real investor. Gappy Paleologo warned AI still can’t match the gut instincts and context humans bring to investing. Some say Wall Street’s big bet on AI might be getting ahead of what the tech can actually do. The dream of letting ChatGPT build your investment portfolio may still be far off, according to one of the hedge fund world’s top quant minds. Gappy Paleologo, a partner at Balyasny…

(Bloomberg) — Microsoft Corp. is keen to show employees how much AI is transforming its own workplace, even as the company terminates thousands of personnel. Most Read from Bloomberg During a presentation this week, Chief Commercial Officer Judson Althoff said artificial intelligence tools are boosting productivity in everything from sales and customer service to software engineering, according to a person familiar with his remarks. Althoff said AI saved Microsoft more than $500 million last year in its call centers alone and increased both employee and customer satisfaction, according to the person, who requested anonymity to discuss an internal matter. The…