J studio
Listen below or on the go on Apple Podcasts or Spotify
Nvidia (NVDA) is acquiring two Israeli startups aimed at running AI models more cheaply. (00:25) META earnings call: More spending on AI ahead of profits. (01:14) Microsoft-backed Rubrik (RBRK) has an IPO price of $32 per Sharr, above the indicated range. (02:32)
This is a summary transcript of the podcast.
Nvidia (NASDAQ:NVDA) is strengthening its dominance in artificial intelligence with the acquisition of two Israeli startups.
The company confirmed Wednesday that it will acquire Run:ai.
Additionally, Nvidia is said to have reached a deal with another startup, Deci, The Information reported, citing people familiar with the deal.
The purpose of the acquisition is to reduce the cost of creating and running AI models.
Run:ai increases the efficiency of AI chips by allowing them to run multiple workloads in parallel, reducing the number of GPUs needed to complete tasks.
Deci, on the other hand, modifies the AI ​​model to make it cheaper to run. Its efforts are similar to those of OmniML, another startup that Nvidia (NVDA) quietly acquired last year.
Meta Platforms (NASDAQ:META) is down 13% in pre-market trading.
META’s first-quarter profit exceeded expectations, but investors were disappointed by a lackluster sales outlook for the second quarter.
The company also began a conference call to focus on significant upcoming spending.
CEO Mark Zuckerberg began the call with a determination to look forward, not backward. He acknowledged that the year had gotten off to a “good start,” but said most of the conference would focus on Metaverse and the company’s work on artificial intelligence.
“Overall, the work our team has accomplished here is another significant milestone that shows we have the talent, data, and ability to expand our infrastructure to build world-leading AI models and services. I believe that,” Zuckerberg said. “This is why I believe we will need to invest significantly more in the coming years to build even more advanced models and the world’s largest AI service.
Meta’s report also highlights spending growth driven in part by infrastructure costs, as well as a projected increase in capital spending ($35 billion to $40 billion in 2024) based on infrastructure investments to support the AI ​​roadmap. I collected it.
It’s notable that Meta is experiencing share price volatility at this investment stage of its product strategy, he added, adding, “Where we’re investing in new product expansion, we haven’t monetized it yet. We believe that as Reels, Stories, News Feeds move to mobile, etc., it will take a multi-year investment cycle before we fully scale AI Business APIs etc. into the profitable services I expect. I’m expecting it.”
Zuckerberg looked at Meta Inc.’s (META) well-known efforts to accelerate the Metaverse and said he was interested in how this theme overlaps with current AI.
Cybersecurity software company Rubrik (RBRK) announced the pricing of its initial public offering of 23.5 million shares of Class A common stock at $32.00 per share.
Microsoft (MSFT) is one of the prominent investors in Rubrik (RBRK).
The company priced its IPO above its previous target range of $28 to $31.
Additionally, Rubrik has granted the underwriters a 30-day option to purchase up to an additional 3,525,000 shares of Class A common stock at the IPO price, less underwriting discounts and commissions.
The shares are scheduled to begin trading today on the New York Stock Exchange under the symbol “RBRK.”
This recruitment is scheduled to end on April 29th.
More articles on Seeking Alpha:
Walmart and Kroger stocks hint at concerns over Amazon’s low-cost delivery plan, UBS says
GDP Watch: US economic growth likely to slow in the first quarter
BHP considers possible acquisition of Anglo American – Bloomberg (Updated)
Catalyst watch:
-
Notable events include the annual meetings of Texas Instruments (TXN), Johnson & Johnson (JNJ), and Pfizer (PFE).
-
Beijing Motor Show Auto China 2024 will open. Automakers expected to be big hits with new models include Nio (NIO), BYD Company (OTCPK:BYDDF), Mercedes-Benz (OTCPK:MBGAF), BMW (OTCPK:BMWYY), Zeekr, and General Motors. It will be. (GM) Cadillac.
Wall Street seesawed through regular trading on Wednesday, ultimately ending mixed.
The Nasdaq (COMP:IND) ended 0.10% higher. The S&P 500 (SP500) rose 0.02%. The Dow Jones Industrial Average (DJI) fell slightly by 0.11%.
Seven of the S&P’s 11 sectors finished in the green.
Now let’s take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are mixed ahead of today’s opening bell. Crude oil rose 0.1% to over $82 per barrel. Bitcoin fell 4.2% to over $63,000.
In global markets, the FTSE 100 rose 0.7% and the DAX fell 0.4%. The Australian market was closed today due to a public holiday.
The day’s biggest premarket move: Ford Motor Co. (F) shares rose more than 3% after a strong first-quarter report. The company’s commercial vehicle division, Ford Pro, saw revenue increase 36% and EBIT double, driven by strong demand for trucks, vans and software services.
Today’s economic calendar:
