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SoftBank's AI Bet Pays Off as Profits Double on OpenAI and Nvidia Surge

SoftBank Group reported net profits more than doubled to $16.2 billion in Q2, driven by soaring AI valuations including OpenAI and Nvidia investments. The company sold its entire $5.8 billion Nvidia stake while announcing a stock split amid growing AI bubble concerns.

11 Sources

Broadcom and CAMB.AI Partner to Bring Real-Time AI Translation Directly to Consumer Devices

Broadcom and CAMB.AI are collaborating to embed AI-powered real-time translation capabilities directly into chipsets, enabling on-device processing for over 150 languages without cloud dependency. The technology promises enhanced privacy, ultra-low latency, and improved accessibility features including audio descriptions for visually impaired users.

3 Sources

AI Investment Boom Creates Economic Uncertainty as Fed Grapples with 'Bifurcated' Growth

Federal Reserve officials struggle to navigate monetary policy amid an AI-driven economic transformation that's creating a dual economy, with massive infrastructure investments boosting GDP while employment concerns mount.

2 Sources

AMD Acquires Neuralink Veterans' AI Startup MK1 to Enhance Instinct GPU Performance

AMD has acquired MK1, an AI software startup founded by Neuralink veterans, to accelerate inference and reasoning capabilities on its Instinct GPUs. The acquisition is part of AMD's broader strategy to compete with Nvidia in the AI infrastructure market.

2 Sources

NVIDIA CEO Jensen Huang Dismisses AI-Dot-Com Bubble Comparisons, Citing Real-Time GPU Demand

NVIDIA CEO Jensen Huang argues the AI boom differs fundamentally from the 1990s dot-com bubble, emphasizing that current GPU usage is at capacity with real demand, unlike the overbuilt 'dark fiber' infrastructure of the internet era.

2 Sources

Intel's AI Chief Sachin Katti Defects to OpenAI After Just Six Months in Role

Intel's chief technology and AI officer Sachin Katti has left the chipmaker to join OpenAI after only six months in his role, marking another senior departure as Intel struggles to compete in the AI sector. CEO Lip-Bu Tan will now oversee Intel's AI efforts directly.

11 Sources

CoreWeave Reports Strong Q3 Results Amid AI Infrastructure Boom, But Stock Falls on Revenue Guidance Cut

AI infrastructure provider CoreWeave exceeded Q3 revenue expectations with $1.36 billion and secured $55.6 billion in future contracts, but shares dropped 6% after the company lowered its full-year revenue guidance due to data center construction delays.

3 Sources

6Sense Founder Amanda Kahlow Raises $30M for AI Sales Agent Startup 1Mind

Amanda Kahlow, former CEO of 6Sense, has raised $30 million for her new startup 1Mind, which creates AI-powered sales agents that handle inbound sales conversations and can close deals without human intervention.

2 Sources

Lovable Surges to Nearly 8 Million Users as AI Coding Platform Targets Non-Technical Market

Stockholm-based AI coding startup Lovable approaches 8 million users, up from 2.3 million in July, with 100,000 new products built daily. The company focuses on empowering non-technical users rather than developers, following a $200 million funding round at $1.8 billion valuation.

3 Sources

Yesterday

C3 AI Explores Potential Sale Following Founder's Health-Related CEO Departure

Enterprise AI software provider C3 AI is reportedly exploring a potential sale after founder Thomas Siebel stepped down as CEO due to health concerns. The company's stock surged 6% on the news despite facing challenging financial performance.

2 Sources

Wikipedia Calls on AI Companies to Pay for Content Access and Stop Unauthorized Scraping

The Wikimedia Foundation urges AI companies to use its paid Enterprise API instead of scraping Wikipedia's content, citing declining human traffic and increased bot activity that threatens the platform's sustainability.

5 Sources

Cadence Acquires Seattle AI Startup ChipStack to Accelerate Chip Design Automation

Semiconductor software giant Cadence Design Systems has acquired ChipStack, a Seattle-based AI startup that developed automated chip verification tools. The acquisition brings ChipStack's 20-person team and AI-powered agents to strengthen Cadence's verification capabilities.

2 Sources

Former Google and Meta Executives Launch Majestic Labs with $100M to Revolutionize AI Server Architecture

Three former Google and Meta silicon executives have raised $100 million for Majestic Labs, a startup developing high-capacity AI servers with 1,000 times more memory than conventional enterprise servers. The company aims to reduce data center costs by replacing up to 10 server racks with a single unit.

3 Sources

AI Presentation Startup Gamma Reaches $2.1B Valuation with Profitable $100M Revenue Run Rate

Gamma, an AI-powered presentation and content creation platform, secured $68 million in Series B funding at a $2.1 billion valuation, demonstrating exceptional efficiency with just 52 employees and profitable operations since 2023.

2 Sources

Time Magazine Launches AI Agent to Transform Reader Engagement with Journalism

Time magazine has introduced a new AI agent built in partnership with Scale AI, allowing users to query and interact with the publication's extensive archive of 750,000 assets. The tool supports 13 languages and represents Time's biggest AI investment yet.

2 Sources

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