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With the year 2023 almost at its end, the crypto, digital assetand AI space has seen some major changes in terms of regulations and operations. Whilethe global crypto space is awaiting the potential approval of a spot Bitcoin ETF, President Joe Biden signed an executive order on artificial intelligence on Monday, aiming to ensure more safety in the AI space.
Companies such asMicrosoft Corp. MSFT , Meta Platforms Inc. META , andAlphabet GOOG GOOGL gave voluntary commitments to the government to deploy AI safely.
Read Next: Will Biden's Landmark AI Executive Order Push Banking Industry Deeper Into Artificial Intelligence?
Stock Performances: Microsoft, Alphabet, Meta PlatformsandNvidia Corp NVDA reported gains of around or more than 2% in todays trading session at the time of writing. Amazon.com, Inc. AMZN sharessurged around 4%.
This is in comparison to the 1% gain reported by the Technology Select Sector SPDR Fund XLK .
Meanwhile, other players such asUiPath Inc PATH , andDynatrace Inc DT are also trading up at the time of writing.
In the past six months, Alphabet's sharessurged 16% while Meta Platformssaw a 25% gain and Amazonreported a 30% rise. Nvidia saw a significant 42% increase. Technology Select Sector SPDR Fundsaw a marginal 8% gain in the same period.
AI Developments: Among notable developments surrounding these companies is Alphabet investing up to $2 billion in AI start-up Anthropic, in which Amazon alsoinvested $4 billion. Anthropicwas founded by former OpenAI engineers in 2021to develop rival generative AI models.
Inits earnings resultsreported last week, Meta Plataforms highlighted that AI will be its biggest investment area in 2024, focusing on engineering and computing resources.Loading… Loading… Loading…
On AIs continued use in advertising and new use cases, CFO Susan Li said, Youll see that we have been increasingly testing these in our AI sandbox. As they become more mature, well incorporate them into our ads manager directly.
Apple islooking at a $1 billion investment annually in AI, a sector it initially resisted, withrecent job listings indicating an increased focus on AI-driven features and products. The company also released an AI-based auto-correct feature for iOS 17 in early 2023.
UiPaths recent quarterly earnings saw a boost led by rising demand for its AI products
In August, AI start-up company Hugging Face secured $235 million in a Series D funding round led by IBM IBM , Alphabet, Amazon, Nvidia, AMD, Inteland Qualcomm.
The companys valuation has now increased to $4.5 billion. Hugging Face provides a platform where developers can freely share code, modelsand datasets. It also develops software tools called libraries that aid in model implementation, dataset cleaningand performance evaluation.
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