AI News Today – July 8th, 2024

Welcome to “AI News Today,” your daily summary of the AI Industry.

Bridgewater Launches $2 Billion Machine Learning Fund

Bridgewater (NASDAQ: BWB) Associates, a major hedge fund in Connecticut, has launched a $2 billion fund that leverages machine learning for decision-making. The fund uses models developed in collaboration with AI leaders such as OpenAI, Anthropic, and Perplexity. Read all about it on the TDR Website!

Analyst Price Targets for NVIDIA: High of $200, Low of $90 by June 2025

NVIDIA (NASDAQ: NVDA) Analyst price targets – The highest price target comes from Hans Mosesmann at Rosenblatt, who believes Nvidia will climb 64% to reach $200 per share by June 2025. The lowest price target comes from Gil Luria at D.A. Davidson, who believes Nvidia will decline 26% to reach $90 per share during the same period.

Nvidia’s AI Chip Bottleneck

Margrethe Vestager, the European Union’s antitrust chief, has raised concerns about the significant bottleneck created by Nvidia (NASDAQ: NVDA) in the AI chip supply chain. Vestager highlighted that the scarcity of Nvidia’s advanced chips is hindering AI development and creating dependencies that could impact technological advancements in Europe​​.

Exploitation of African Workers in AI Development

An investigation has revealed the exploitation of African workers who are essential in training AI systems. Mercy Anita, a tech worker from Kenya, shared her experience of low wages and poor working conditions, shedding light on the ethical concerns surrounding the human cost of AI advancements​​, The Guardian reported this news.

AI’s Role in Tackling Climate Change

AI technologies are playing a crucial role in addressing the climate crisis. Innovations include AI-driven systems that optimize energy usage, improve climate modeling, and support the development of sustainable practices. These advancements underscore the potential of AI to contribute significantly to global environmental efforts​.

Read more AI news on the TDR Website!

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