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Category: business – Page 60

Elon Musk, the richest man in the world, revealed that one of the toughest choices he’s had to make in his life was when he had “$30 million dollars left.”

Musk, CEO of Tesla Inc. and SpaceX, revealed that choosing which company to invest his last $30 million in was tough.

In a conversation with screenwriter, producer and director Jonathan Nolan during a SXSW interview titled “Elon Musk Answers Your Questions!”, Musk shared his insights on topics ranging from artificial intelligence (AI) to Mars and business. He delved into his early entrepreneurial years, which ultimately led to the creation of his groundbreaking companies, including how he made $180 million from the sale of PayPal.

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A subsidy-fueled boom helped build China into an electric-car giant, but with an economic slowdown and hundreds of ride-hailing companies going bust, the country is facing a excess of unwanted batter-powered vehicles. Linda Lew reports on Bloomberg Television.
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WASHINGTON — Artificial intelligence startup Wallaroo Labs won a $1.5 million contract from the U.S. Space Force to continue the development of machine learning models for edge computers in orbit.

The New York-based company, known as Wallaroo.ai, is partnered with New Mexico State University for the Small Business Technology Transfer Phase 2 contract, announced Aug. 15. The team last year won a Phase 1 award.

Wallaroo.ai created a software platform that helps businesses assess the performance of AI applications when deployed on edge computers.

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Smaller language models can be based on a billion parameters or less—still pretty large, but much smaller than foundational LLMs like ChatGPT and Bard. They are pre-trained to understand vocabulary and human speech, so the incremental cost to customize them using corporate and industry-specific data is vastly lower. There are several options for these pre-trained LLMs that can be customized internally, including AI21 and Reka, as well as open source LLMs like Alpaca and Vicuna.

Smaller language models aren’t just more cost-efficient, they’re often far more accurate, because instead of training them on all publicly available data—the good and the bad—they are trained and optimized on carefully vetted data that addresses the exact use cases a business cares about.

That doesn’t mean they’re limited to internal corporate data. Smaller language models can incorporate third-party data about the economy, commodities pricing, the weather, or whatever data sets are needed, and combine them with their proprietary data sets. These data sources are widely available from data service providers who ensure the information is current, accurate, and clean.

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Tesla says it will build new “1st of its kind” data centers. The automaker is hiring staff for it and snapping up some existing data centers.

The data center business is now massive with a market size of more than $250 billion.

Most of the biggest companies in the world, which are known to consumers for other products, are in it, like Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and Meta Platforms (Facebook).

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Peter’s entrepreneurial spirit, fascination with space travel and thirst to innovate are central to his core business philosophy and approach of “exponential thinking”. He advocates that technology and innovation progress exponentially and that disruptive technologies and entrepreneurial approaches can solve humanity’s most significant challenges and create a future of abundance.

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Continue reading “🤖AI vs. Capitalism: 🔥How AI will Rise In a Post-Capitalist Society — Peter Diamandis” | >

The permission was given by California Public Utilities Commission after a 3–1 vote.

In a massive win for driverless cars in the United States, California has permitted Cruise and Waymo to conduct full-fledged commercial passenger service using driverless vehicles in San Francisco.

The permission granted by the California Public Utilities Commission (CPUC) allows both firms to charge fees for journeys at any time of day. The approval comes after a disputed six-hour hearing on the matter that included residents voicing their concerns about autonomous vehicles (AVs) roaming their roads. Hearing all the arguments, the commission voted 3-to-1 to allow the two businesses to run their cars across San Francisco at any time of the day.

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Author Jane Friedman was furious after discovering roughly a dozen books being sold on Amazon — with her name on them.

Fortunately, the seemingly AI-written books listed under her name ended up being taken down after she posted about the situation on Twitter and her own blog.

In an interview with The Guardian, Friedman recounted how the viral debacle began. A reader contacted her about the phony titles that mimicked her real work, which is ironically designed to help new authors navigate the publishing industry with titles like “The Business of Being a Writer” and “Publishing 101.”

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California-based Virtualitics, a startup providing enterprises with an AI-driven platform for 3D data exploration, today announced $37 million in a series C round of funding. The company said it will use the capital to expand its footprint and add more capabilities to its offering to make it easier for users to analyze and understand complex, business-critical datasets.

The round has been led by Smith Point Capital with participation from Citi and advisory clients of The Hillman Company, among other investors. It takes the total capital raised by Virtualitics, which took off from Caltech and NASA’s Jet Propulsion Lab in 2016, to $67 million.

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A team from the University of Chicago.

Founded in 1,890, the University of Chicago (UChicago, U of C, or Chicago) is a private research university in Chicago, Illinois. Located on a 217-acre campus in Chicago’s Hyde Park neighborhood, near Lake Michigan, the school holds top-ten positions in various national and international rankings. UChicago is also well known for its professional schools: Pritzker School of Medicine, Booth School of Business, Law School, School of Social Service Administration, Harris School of Public Policy Studies, Divinity School and the Graham School of Continuing Liberal and Professional Studies, and Pritzker School of Molecular Engineering.

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