Anti-Clickbait News Summaries for October 15, 2024
Google partners with Kairos Power to use nuclear energy for AI data centres
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AI technology enables game creation from images in real time
A new AI technology allows users to create playable game worlds from images. This development enables players to generate maps for multiplayer games, transforming familiar locations into virtual environments.
The AI World Models can generate game levels in real-time, offering a faster image processing pipeline than before. However, this requires powerful computing hardware and has limitations, such as poor textures and disappearing elements.
Despite these challenges, the technology presents a unique experience, resembling dream-like environments. Developers may explore integrating these AI-generated worlds into future gaming projects.
New semiconductor ETF SOXQ offers broader diversification than SMH
A new semiconductor exchange-traded fund (ETF), SOXQ, has been introduced, offering a more diversified option compared to the existing SMH ETF. This change comes as the semiconductor sector continues to drive the S&P 500 to record highs.
The SOXQ ETF aims to include a broader range of semiconductor companies, potentially providing investors with more exposure to the industry. This contrasts with SMH, which has a more concentrated focus on fewer companies.
The semiconductor sector's strong performance has been noted, with significant gains contributing to overall market growth. Investors are now considering SOXQ as a viable alternative for diversification in their portfolios.
Rio Tinto invests in startups to drive decarbonization and innovation in mining
Rio Tinto has acquired Arcadium Lithium for $6.7 billion, becoming one of the top three lithium miners globally. This acquisition supports its commitment to the green economy, particularly in electric vehicle battery production.
In addition, Rio Tinto has launched a climate and deep tech accelerator with Founders Factory, investing $14.4 million in early-stage startups over three years. The focus is on technologies that enhance mining operations, decarbonization, and automation.
The inaugural cohort includes six startups developing innovative solutions for copper, lithium, and critical minerals. These companies will receive funding, access to Rio Tinto's resources, and support to accelerate their market entry.
Meta's Yann LeCun rejects fears of superintelligent AI as exaggerated
Yann LeCun, a senior researcher at Meta, has dismissed fears about superintelligent AI, calling them "complete BS." He argues that current AI models, like ChatGPT, lack essential human traits such as reasoning and understanding of the physical world.
LeCun believes that large language models are not as intelligent as a house cat and are far from achieving artificial general intelligence (AGI). He contrasts his views with other tech leaders who predict AGI could emerge in the near future.
While some experts express concern about advanced AI, LeCun remains optimistic about AI's potential without the threat of AGI. He emphasizes that intelligence should not be equated with language manipulation.
China expands coal power projects abroad despite 2021 financing pledge
China continues to build coal-fired power plants abroad, despite a 2021 pledge to stop financing such projects. The Centre for Research on Energy and Clean Air reports that while China canceled 5.6 GW of planned coal capacity in 2024, it also built 7.9 GW.
This brings China's total operating coal capacity overseas to 26.2 GW, up from 18.3 GW in 2023 and 9.2 GW in 2022. The number of coal projects under construction or planned now totals 52, with a combined capacity of 49.5 GW.
In addition to coal projects, China has moved 3.4 GW of new generation capacity to construction, with another 4.9 GW in the pre-permit phase. Some of this includes coal projects in Kyrgyzstan, Zambia, and Zimbabwe.
Adani Group returns to dollar bond market with new green bond offering
Adani Group is returning to the dollar bond market for the second time this year, indicating improved funding access after facing challenges from a short-seller report in 2023.
Adani Green Energy Ltd. is marketing a 20-year green bond to repay foreign loans, as the company increases its spending to expand capacity.
The conglomerate aims to raise about $500 million through a share sale and may issue up to $1.5 billion in bonds by February. Indian dollar bond sales are at a three-year high, with companies raising around $10 billion in 2024.
Source: https://ca.finance.yahoo.com/news/adani-group-back-again-selling-060918628.html
AI takes center stage as stand-in for absent candidates in political debates
A new trend in political debates involves using generative AI as a stand-in for candidates who do not show up. This allows debates to continue, with human politicians engaging the AI as if it were the absent candidate, a shift from traditional empty chair debates.
Previously, debates would often be canceled or proceed with an empty podium if a candidate was absent. The introduction of AI offers a new option, but raises concerns about fairness and representation, especially if the AI is created by the opposing candidate.
In Virginia, a congressional race will feature a candidate using generative AI to represent their opponent, who has opted out of the debate. This situation highlights the potential for AI to change the dynamics of political discourse, though it also raises ethical questions about authenticity and accountability.
Biden administration considers export restrictions on Nvidia and AMD AI chips to Persian Gulf countries
The Biden administration is considering new export restrictions on advanced AI chips from Nvidia and AMD to certain countries, particularly in the Persian Gulf. This proposal aims to address national security concerns and has not yet been finalized.
This move follows a recent framework to simplify licensing for AI chip shipments to the UAE and Saudi Arabia. Current restrictions already limit exports to over 40 nations, primarily to prevent technology from reaching China.
Despite U.S. sanctions, Nvidia's chips have reportedly still entered Chinese markets through smuggling. Meanwhile, Nvidia's stock recently hit an all-time high, reflecting ongoing demand for its products.
Experts warn Trump's economic plans could increase inflation if re-elected
Donald Trump has promised to eliminate inflation if re-elected, but many economists warn his policies could worsen it. His plans include imposing high tariffs on imports and deporting millions of migrant workers, which could lead to higher consumer prices.
Economists predict that Trump's proposals could raise inflation significantly, with estimates suggesting it could reach between 6% and 9.3% by 2026. In contrast, current inflation is nearing the Federal Reserve's target of 2%.
Trump's approach differs from Vice President Kamala Harris, whose policies are not seen as inflationary. Economists note that increased immigration has helped keep inflation in check, while Trump's mass deportations could raise inflation by 3.5 percentage points.
Source: https://abcnews.go.com/Politics/wireStory/trumps-economic-plans-worsen-inflation-experts-114801461
Texas company develops hypersonic engine for one-hour flights from London to New York
A Texas company, Venus Aerospace, is developing a hypersonic engine that could enable flights from New York to London in just one hour, traveling at speeds of 3,600 mph. This new engine, called the Venus Detonation Ramjet 2,000lb Thrust Engine (VDR2), aims to significantly reduce travel time.
The company plans to test the hypersonic jet next year in collaboration with Velontra. The aircraft will use conventional jet engines for takeoff and switch to rocket propulsion at higher altitudes, offering unique views of Earth from above.
Venus Aerospace also claims its Stargazer M400 will be the first reusable hypersonic aircraft, capable of flying 5,000 miles while emitting half the CO2 of traditional flights. The hyperjet could be operational in the 2030s.
IXUS valuation improves as macroeconomic conditions become more favorable
The iShares Core MSCI Total International Stock ETF (IXUS) is seeing a shift in its valuation as macroeconomic conditions improve. Previously, in June 2023, high inflation and restrictive monetary policies were concerns for investors.
Now, the economic environment appears more favorable, potentially benefiting international stocks. This change may influence investor sentiment and market performance for IXUS.
The article emphasizes the importance of seeking professional financial advice before making investment decisions. It also clarifies that past performance does not guarantee future results.
OpenAI hires Microsoft AI research leader Sebastian Bubeck
Sebastian Bubeck, former VP of generative AI research at Microsoft, has joined OpenAI. His departure marks a significant shift, as he was a key contributor to Microsoftโs Phi models, which focus on small language and vision models for edge devices.
This move highlights a growing trend towards on-device AI models, which offer faster and more private processing compared to large centralized models. Bubeck's expertise in this area may enhance OpenAI's capabilities in developing efficient AI solutions.
Bubeck's specific role at OpenAI has not been disclosed. However, his background suggests he may focus on improving the efficiency of smaller AI models, an area where OpenAI has less experience.
Source: https://techcrunch.com/2024/10/14/openai-snatches-up-microsoft-generative-ai-research-lead/
Chinese yuan faces pressure as government limits capital outflows
The Chinese yuan is facing significant challenges as it weakens, raising concerns among investors. The government has closed its capital account to limit money outflows, which contradicts its goal of making the yuan a global reserve currency.
Recent stimulus efforts have sparked interest in Chinese assets, but the countryโs economic model prioritizes state-owned enterprises over household income. This limits the potential for substantial reforms that could boost consumer spending and decentralize economic power.
China's economy is already burdened with excess infrastructure and debt. Incremental stimulus measures may not be sufficient to sustain growth, potentially leading to increased frustration within China as it seeks to shift blame externally.
Yale researchers develop gecko-inspired robot that can amputate limbs to navigate obstacles
Researchers at Yale University have developed a small, gecko-inspired robot that can amputate its own limbs to escape obstacles. This innovation allows the robot to reconfigure itself, enhancing its adaptability in various environments.
The robot's joints are made from a material that changes from rubbery to liquid when heated, enabling limbs to detach easily. This feature allows multiple robots to work together, crossing gaps that one cannot bridge alone.
Soft robots, like Yale's, are gaining interest for their flexibility and ability to perform delicate tasks. Future projects include a robotic turtle that can transition between land and water, showcasing the potential for further advancements in soft robotics.
Source: https://www.cnn.com/science/yale-self-amputating-soft-robot-hnk-spc/index.html
Google partners with Kairos Power to use nuclear energy for AI data centres
Google has signed a deal with Kairos Power to use small nuclear reactors for its AI data centres. The first reactor is expected to be operational this decade, with more planned by 2035.
This move aligns with a trend among tech companies seeking nuclear energy to meet the growing electricity demands of AI. Microsoft and Amazon have also made recent agreements related to nuclear power.
Nuclear energy is appealing due to its low carbon emissions and continuous power supply. However, concerns remain about safety and radioactive waste associated with nuclear power.
Source: https://www.bbc.com/news/articles/c748gn94k95o
Microsoft launches Blackwell server rack, impacting key AI players
Microsoft has introduced its new Blackwell server rack, featuring Nvidia's latest graphic processing units. This makes Microsoft the first cloud provider to utilize the Blackwell system, which employs InfiniBand networking and a custom liquid cooling system.
The use of InfiniBand instead of Ethernet technology is a setback for Broadcom, which promotes Ethernet for AI workloads. Despite this, Broadcom is expanding its custom AI chip business, gaining new customers and remaining well-positioned in the AI infrastructure market.
Super Micro Computer faces challenges, including allegations of accounting issues and declining profit margins. Microsoft's choice of its own cooling technology over Supermicro's offerings highlights the competitive landscape, but Supermicro may still benefit from the growing AI infrastructure demand.
US retirement system ranks 29th globally with a C+ grade in new study
The US retirement system received a C+ in the latest Mercer CFA Institute Global Pension Index, ranking 29th out of 48 countries. This score decreased from 63.0 to 60.4, reflecting ongoing issues with pension funding and private savings.
The report highlights challenges such as declining birth rates and increasing life expectancy, which strain both private retirement plans and Social Security. Only four countries received an A rating, while the US shares its grade tier with nations like the UAE and Spain.
New legislation, Secure 2.0, will require automatic enrollment in 401(k) plans starting in 2025, aiming to improve participation. The report suggests adopting best practices from countries like the Netherlands to enhance the US retirement system's effectiveness.
Source: https://ca.finance.yahoo.com/news/the-us-retirement-system-gets-a-c-in-global-study-230119976.html
NuScale Power stock rises over 6% as interest in nuclear energy grows
NuScale Power's stock rose over 6% on Monday, outperforming the S&P 500, which increased by 0.8%. This surge followed news that Kairos Power, a nuclear solutions provider, partnered with Google to develop 500 megawatts of nuclear energy by 2035.
Although NuScale is not directly involved in this deal, it specializes in small modular reactors, which are appealing for clients with limited resources. The partnership aligns with a growing interest in nuclear energy solutions among major tech companies.
As energy demand rises, particularly from the tech sector, NuScale's offerings may become increasingly attractive. The company could potentially secure its own development agreements with other tech giants in the future.
Apple study reveals flaws in large language models' reasoning abilities
A new study by Apple engineers reveals that advanced large language models (LLMs) struggle with logical reasoning. The research shows that minor changes to standard math problems can lead to significant drops in performance, highlighting the models' fragility.
The study, titled "GSM-Symbolic," tested over 20 LLMs using modified versions of a common benchmark. Results indicated that accuracy decreased by 0.3 to 9.2 percent compared to the original benchmark, with some models showing up to 15 percent variance in performance.
These findings suggest that LLMs rely on pattern matching rather than true understanding, as they performed worse when names and numbers were altered, despite the problems remaining mathematically unchanged.
SpaceX achieves successful Starship landing marking milestone in space exploration
SpaceX successfully landed its Starship rocket, marking a significant milestone for the company and the space exploration industry. This event is seen as a pivotal moment in space history, comparable to major advancements in transportation over the last century.
The successful landing highlights the importance of reusability in space travel. SpaceFund founder Rick Tumlinson noted that this achievement could render other rockets obsolete and emphasized the need for more flights to refine the technology.
Looking ahead, SpaceX plans to conduct additional flights to gather data and improve its systems. Tumlinson mentioned potential competition from companies like Blue Origin and Rocket Lab, as well as emerging players in China.
Source: https://ca.finance.yahoo.com/video/spacexs-starship-landing-means-spacefund-215839289.html
Internet Archive resumes limited services after weeks of cyberattacks
The Internet Archive is back online with limited functionality after weeks of cyberattacks. Services have resumed in a read-only mode, but new webpages cannot be saved yet. The Archive's founder warned that further maintenance may be needed.
The nonprofit faced multiple attacks, including the theft of 31 million users' data and Distributed Denial of Service (DDoS) attacks that knocked the site offline. A hacker group claimed responsibility, citing copyright violations as their motive.
The Archive has been a key resource for preserving internet history since 1996. It has taken over 150 billion snapshots of webpages and hosts a vast collection of digital media.
Source: https://www.nbcnews.com/tech/security/internet-archive-faced-barrage-cyberattacks-rcna175389
Microsoft scales back HoloLens project as doubts grow over military contract
Microsoft is discontinuing its HoloLens project after significant financial losses, estimated at over $5 billion. The company has also reduced its workforce dedicated to the Integrated Visual Augmentation System (IVAS) for the U.S. Army, raising doubts about its future involvement.
The IVAS contract, potentially worth $22 billion, has faced delays and quality issues. Microsoft is now focusing on smaller updates requested by the military, rather than major innovations, and is requiring the Army to fund these changes.
As Microsoft shifts its focus to artificial intelligence, it is stepping back from augmented reality. Other companies, including Anduril, are now being considered for the IVAS project, with the Army exploring options to replace Microsoft as the primary contractor.
Source: https://www.businessinsider.com/microsoft-lost-billions-hololens-ivas-contract-trouble-2024-10
AMD launches new CPU and AI accelerator to challenge Nvidia in datacenter market
AMD recently launched its 5th Generation EPYC processor and MI325X AI accelerator at the Advancing AI 2024 event, enhancing its competitiveness against Nvidia in the AI and datacenter markets. The new EPYC processors feature improved performance and efficiency for various workloads.
The EPYC lineup includes two core designs: Zen 5 for general workloads and Zen 5c for cloud and virtualized tasks. AMD's market share in datacenter CPUs has grown significantly, reaching about 34%, with major cloud providers adopting its technology.
Additionally, AMD introduced the Pensando Salina DPU and Pollara 400 NIC to improve networking for AI applications. These innovations aim to enhance data transmission and performance, positioning AMD as a strong player in both AI and enterprise computing.
Source: https://www.forbes.com/sites/moorinsights/2024/10/14/analyzing-amds-next-generation-cpu-gpu-and-dpu/
Great selection of news items! Please keep 'em coming.