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- Nvidia could be in serious trouble
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Wearing socks to bed helps regulate your body temp for better sleep. But honestly, socks in bed? Not worth the extra Zs. I’ll take my bare feet and bad sleep habits, thanks.
What’s in store:
Nvidia’s dominance seems to be raising a few red flags.
Former OpenAI founder raises $1 billion for his new company.
Around the web: Telegram removes private chat moderation protection from its FAQ following CEO Pavel Durov's arrest.
How Lemlist is crucial to Mindstream!
Read Time: 6 minutes
NVIDIA
Nvidia, the leading AI hardware provider, is currently under investigation by the U.S. Department of Justice for its potential dominance in the AI chip market. We’re getting monopoly vibes here.
Regulators are looking into whether Nvidia is making it difficult for customers to switch to other supplies and whether it penalises buyers who don’t exclusively use its chips.
Nvidia’s spokesperson, Jogn Rizzo, responded by stating, “Nvidia wins on merit,” and affirmed that customers can choose solutions that suit them best.
He also mentioned that Nvidia has not been subpoenaed but is willing to cooperate fully with any inquiries from regulators.
Earlier this year, Nvidia briefly overtook Microsoft as the world’s most valuable company.
However, following news of the DOJ's investigation, Nvidia's share price fell by over 9%, wiping out approximately $279 billion in market value in one day. Ouch.
Despite this, Nvidia’s stock has still more than doubled in 2023, fuelled by strong sales of its AI chips.
There are, however, reports that its upcoming Blackwell series may face delays due to design issues.
Here’s what’s happening:
DOJ is investigating Nvidia’s market position and its potential impact on competition.
Nvidia’s share price dropped 9%, with a $279 billion decrease in market value.
Nvidia’s stock remains strong overall, driven by AI chip demand, despite possible delays in new products.
Being the best isn’t enough?
Despite these challenges, Nvidia's market position remains strong, thanks to the global AI boom and strong demand for its high-performance chips.
Storm clouds on the horizon for Nvidia… and my portfolio?
Has Nvidia peaked? |
Vote for live results and see results + opinions from yesterday at the bottom of the email.
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On This Day
September 6th 1997 - The funeral of Princess Diana takes place in London and is watched by over 2 billion people worldwide.
Riddle Me This
I can be cracked,
made,
told,
and played.
What am I?
What could it be? |
Nifty Numbers
Gemini is Google’s new go-to AI tool, making serious strides in marketing, data analysis, and more. So who makes up most of the traffic?
Leading the charge? The U.S. at 19.66%, followed by India (9.18%), Brazil (4.38%), the UK (3.36%), and Colombia (3.32%). Its global impact is only getting bigger as businesses tap into its potential.
AI STARTUPS
Sage Superintelligence (SSI), the new AI startup co-founded by ex-OpenAI chief scientist Ilya Sutskever, has already raised $1 billion to develop AI systems that could exceed human abilities.
The company, with just 10 employees, will use the funds to acquire power and hire top talent, with teams in Palo Alto and Tel Aviv.
While SSI hasn’t confirmed its valuation, sources suggest it’s worth $5 billion. Already!?
Backers, including Andreessen Horowitz and Sequoia Capital, are still investing in foundational AI research despite a general slowdown in AI investment.
SSI plans to focus on AI safety and spend several years on research before launching any products.
The important stuff:
SSI has raised $1 billion to develop advanced AI systems.
The company is valued at $5 billion, though this hasn't been confirmed by SSI.
Despite waning AI interest, investors remain committed to foundational AI research.
Raising the stakes
Sutskever, who left OpenAI in May after internal changes, is taking a different, more thoughtful approach to scaling AI.
SSI is also focused on hiring the right people, emphasising character over credentials, and plans to partner with cloud and chip companies for its computing needs.
Sutskever, once a key figure in scaling AI models, now aims to innovate in new ways, moving beyond simply increasing speed.
Another day, another AI startup.
Mindstream Picks
Music: Linkin Park has returned with new music and introduced vocalist Emily Armstrong and drummer Colin Brittain, seven years after Chester Bennington's death.
Gaming: NetherRealm's new story expansion Khaos Reigns for Mortal Kombat 1 releases on September 24, with official Sektor gameplay now available to view on YouTube.
Crypto: Brazil's Central Bank has selected 13 themes for the second phase of its CBDC pilot, Drex, focusing on testing financial services via smart contracts.
Space: Viasat announced a $153 million contract to upgrade the U.S. Army's Blue Force Tracker network, which provides real-time positioning of friendly forces.
Don’t Miss - Telegram has updated its FAQ page, removing previous claims that private chats were protected from moderation requests. This change follows CEO Pavel Durov’s arrest in France, where Telegram was accused of allowing illegal activity on its platform. Durov has since pledged to enhance content moderation, citing Telegram's rapid user growth and its challenges.
AI Art
Our Image of the Day
Artwork submitted by Mindstream reader Jacob G: “A futuristic shisha lounge”
Daily Image Prompt
A robot marriage
Yesterday’s Poll
“Do you think AI will be more of a solution or a problem in the next decade?”
A solution, if we manage it right. - 67% ✅
A problem, because... humans. - 33%
Your Views:
“I'm not sure the UN is the best place to find truth or to prognosticate the future. However, I do think there is more hope than fear with AI. Humans (fear, greed, and desire for power), in the alternative answer are still at play in this answer. And, can easily snatch defeat from the jaws of victory.” - lewis.boyd
“because humans can’t help themselves when it comes to greed and making money and more money important.” - omonteiro
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