Bloomberg: Intel’s money woes throw Biden team’s chip strategy into turmoil
+ Chipmaker is actively reevaluating global manufacturing plans
+ Intel faces unclear path to biggest award from subsidy program
Texas lawmakers plan in August to unveil sweeping legislation ahead of the 2025 session that would have the Lone Star State join a growing list of states confronting potential threats from the use of artificial intelligence in the absence of congressional action.
All the news about SB 1047, California’s bid to govern AI The Verge
Companies’ AI bets are reaching astronomical heights. Why the C-Suite likes its odds anyway. The costs of adopting artificial intelligence are soaring, but so are some executives’ expectations. Steven Rosenbush
These new AI bots will do just about anything for you: Artificial intelligence-based assistants are here to take orders and book trips; they don’t need any help from humans. WSJ
Bloomberg: Long-time bull bails on ASML, warning AI potential overhyped
+ UBS analysts drop buy rating for first time since 2022
+ ASML shares slump Wednesday amid misgivings over tech hype
Nvidia’s share price slumped by 9.5% on Tuesday as part of a broader decline in American stock markets. The AI chipmaker shed nearly $300bn in market value in the biggest-ever single-day decline for an American firm.
Bloomberg: Nvidia joins $100 million funding for year-old Japan AI startup
+ New Enterprise, Khosla Ventures among those leading this round
+ Sakana AI has grown rapidly since its founding in 2023
Bloomberg: Nvidia, DuckDuckGo back AI search startup You dot com in new round
Bloomberg: Altman infrastructure plan aims to spend tens of billions in US
+ Global plan for AI would start with major push in the US
+ OpenAI’s CEO and deputies have been pitching global investors
Bloomberg: Andreessen Horowitz ditches Miami two years after opening office
Where art meets AI: The most beautiful human creations — art, music, poetry — are now in the hands of machines. Is it creative collaboration or an automated takeover. Tom Whipple
Enjoy the ride + plan accordingly.
-Marc
