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.
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