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Good Morning,
AMD took direct aim at Nvidia with its Helios rack-scale AI system, already lined up by OpenAI, Meta, Oracle, Anthropic, and Microsoft, while Etched raised $300 million at a $10.3 billion valuation as investors keep backing specialized AI chips.
Alphabet reignited Big Tech AI-spending concerns after reporting its first cash burn on record despite booming Google Cloud growth, even as Google said Gemini has reached more than 950 million monthly users and is closing in on another billion-user product.
Jensen Huang told Washington not to let “science fiction” AI fears drive policy as debate over Chinese open models intensifies, while Google was hit with a $1 billion EU fine tied to search self-preferencing and Play Store restrictions.
Here’s your daily update.
Markets
The Nasdaq fell 2.15% as a 7.0% surge in Brent crude revived inflation fears while Alphabet’s and Tesla’s earnings intensified concerns about heavy AI spending. Tesla plunged 14.5%, Alphabet dropped 7.1% and Texas Instruments lost 3.1%, while the Philadelphia Semiconductor Index declined 0.5%.
Headlines
AMD takes direct aim at Nvidia with its Helios rack-scale AI system, already lined up by OpenAI, Meta, Oracle, Anthropic and Microsoft. (TechCrunch)
Alphabet triggers fresh Big Tech AI-spending worries after reporting its first cash burn on record despite booming Google Cloud growth. (Reuters)
Nvidia CEO Jensen Huang tells Washington not to let “science fiction” AI fears drive policy as debates over Chinese open models intensify. (Axios)
OpenAI makes ChatGPT Health available to all U.S. users over 18 after a lawsuit renewed scrutiny of AI medical advice. (TechCrunch)
Anthropic upgrades Claude voice mode with Opus and Sonnet support plus actions across Gmail, Calendar, Slack, Canva and Notion. (TechCrunch)
Google says Gemini has reached more than 950 million monthly users, putting it within reach of another billion-user product. (TechCrunch)
Google is hit with a $1 billion EU fine for Digital Markets Act violations tied to search self-preferencing and Play Store restrictions. (AP)
Etched raises $300 million at a $10.3 billion valuation as investors keep backing specialized AI chips. (TechCrunch)
Runway launches a generative-media model router that automatically chooses image, video or audio models based on speed, cost or quality. (TechCrunch)
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