Business and Enterprise AI News: Week Ending 02/23/2024

March 2, 2024

“AI is Consequential: Tyler Perry Puts $800M Studio Expansion on Hold After Seeing OpenAI’s Sora: “Jobs Are Going to Be Lost” https://t.co/A8dbTs7k2J” / X – https://twitter.com/jowyang/status/1760892128958255140

“NVIDIA blew past expectations with its Q4 earnings report, with a 265% year-over-year increase and massive data center revenue. The result? Up over a whopping 16%, pushing market cap passed Google and claiming position as the third largest stock in the world. https://t.co/kqXaTccXra” / X – https://twitter.com/rowancheung/status/1760900542094606667

Nvidia (NVDA) earnings report Q4 2024 – https://www.cnbc.com/2024/02/21/nvidia-nvda-earnings-report-q4-2024.html

Nvidia Added $272 Billion in Market Value Thursday, the Largest One-Day Gain Ever – https://www.investopedia.com/nvidia-added-usd272-billion-in-market-value-thursday-the-largest-one-day-gain-ever-8598861

Sam Altman Huge Stake in Reddit Revealed in IPO Filing – https://www.hollywoodreporter.com/business/business-news/reddit-files-ipo-sam-altman-newhouse-family-investors-1235833080/

“Reddit has reportedly signed a $60M annual deal granting an AI firm access to its user-generated content for model training. Data is the new gold, and social media platforms are the goldmines. Notably, the deal is coming prior to the company’s upcoming IPO ($$). https://t.co/0c3M8nxTc1” / X – https://twitter.com/rowancheung/status/1759443271854485521

Reddit Is Said to Sign AI Content Licensing Deal Ahead of IPO – Bloomberg – https://www.bloomberg.com/news/articles/2024-02-16/reddit-is-said-to-sign-ai-content-licensing-deal-ahead-of-ipo

“SoftBank founder and billionaire Masayoshi Son is reportedly looking to raise $100B to launch ‘Project Izanagi’. The AI chip venture aims to compete with NVIDIA and push towards AGI. $30B is potentially from SoftBank and $70B from Middle Eastern backers. https://t.co/5bpX6pDcAH” / X – https://twitter.com/rowancheung/status/1759443216720445470

Gemini Business and Enterprise for Google Workspace coming – https://9to5google.com/2024/02/19/gemini-business-enterprise/

“Adobe just launched an AI chatbot in beta for Acrobat to make navigating long documents easier with AI summaries. In other words, they made a native ‘Chat PDF’. It works with PDFs, Word files, PowerPoints and more. https://t.co/uU4JeXlPCo” / X – https://twitter.com/rowancheung/status/1760170074554437723

Marqo Raises $12.5 Million for Generative AI Applications – https://www.pymnts.com/news/investment-tracker/2024/marqo-raises-12-5-million-to-help-businesses-build-generative-ai-applications/

Jasper Expands by Acquiring Image Platform Clipdrop from Stability AI – https://www.jasper.ai/blog/jasper-acquires-clipdrop

ChatGPT’s Growth Is Flatlining: Where Does It Go From Here? – https://www.thewrap.com/chatgpt-growth-2024/

Tonic Textual | Free-text redaction for LLMs | Tonic.ai – https://www.tonic.ai/textual

Be Sure To Read “This Week In AI”

This week’s executive overview and top links are here:

AI News #21: Week Ending 02/23/2024 with Executive Summary and Top 36 Stories

The post you just read is an extension of my weekly newsletter, This Week In AI, an executive summary of the top things to know in AI. Each week, I create an accessible overview for laypeople to feel confident they are conversant with the week’s AI developments. I include a curated list of must-click links of the week, to offer everyone a hands-on opportunity to explore the most intriguing updates in artificial intelligence across various categories, including robotics, imagery, video, AR/VR, science, ethics, and more. Beyond the overview, I post these topic-based deeper dives (below). If you haven’t read this week’s overview, I recommend starting there.

Credits/Sources

Most of these weekly links come from just a few prolific oversharing sources. Please follow them, as they work hard to find the news each week and they make it a lot easier for me to compile.