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The past week has been a whirlwind of activity in the tech sector, with artificial intelligence (AI) taking center stage. From a $40 billion data center project to a new AI chip, the industry’s biggest players are making significant strides in AI development.
Here’s a recap of the top stories from the week.
Deepwater Asset Management’s managing partner Gene Munster highlighted the massive potential of AI, referencing the $40 billion Texas-based data center project backed by Nvidia Corp., Elon Musk’s xAI, Microsoft Corp., and BlackRock Inc. Munster emphasized the conviction that forward-thinking companies have in AI’s long-term potential.
Intel Corp. is making a renewed push into the AI chip market with the launch of its new “Crescent Island” GPU, a data center processor set to debut next year. Intel CTO Sachin Katti said the chip is built to optimize “performance per dollar” and deliver “the best token economics.”
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JPMorgan Chase & Co. CEO Jamie Dimon expressed his belief that AI is not a fad and that the payoff will come. However, he warned that it could replace jobs at a pace that could cause major problems if governments and businesses fail to prepare.
Microsoft Corp. plans to shift most new product manufacturing out of China as early as next year, joining other U.S. tech giants, such as Google and Amazon, in expanding production beyond the world’s second-largest economy.
Anthropic, the AI startup backed by Alphabet's Google and Amazon.com, is reportedly projecting to more than double and potentially nearly triple its annualized revenue run rate next year.
Apple Inc.'s CEO Tim Cook said the iPhone maker will continue to "increase investment" in China during his visit to the world's second-largest economy, at a time when U.S. President Donald Trump has threatened to slap tariffs on imports.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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