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🤯 NVIDIA reports $6B in pure profit from AI surge
PLUS: Germany doubles down on AI funding to catch China
Martin Crowley & Arturo Ferreira
August 24, 2023
Premium // Sponsorship // Consulting
Welcome to AI Tool Report!
Whether you’re a long-term reader or a first-time subscriber, welcome back to AITR—The homepage for AI.
Today, we’re looking at NVIDIA’s huge Q2 announcement and what that means for the AI industry.
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Today:
📈 Trending: Quick list of today’s most popular tools
💡Training: Rate the sentiment of your marketing messages with ChatGPT
🧠 News: NVIDIA reports $6B in pure profit from Q2 earnings report
Read Time: 4 minutes
Our Report: NVIDIA, in its Q2 earnings report, highlights its substantial gains, surpassing $6B in pure profit, due to the surge in generative AI.
🔑 Key Points:
For Q2, Nvidia reported a revenue of $13.51B, which is significantly higher than the $6.7B earned during the same period in the previous year.
The primary source of income came from their data center business ($10.32B), which overshadowed their gaming revenue (the profit leader up until this year).
The data center business focuses on providing the chips—A100 and H100—essential for developing and running AI applications, such as ChatGPT.
Profits are a direct result of a strategic decision NVIDIA made in 2018 to go all in on AI, with CEO Jensen Huang highlighting the potential for growth due to the transition from traditional data storage to accelerated data storage using AI.
🤨 Why you should care: Nvidia's thriving success in the generative AI domain underscores the industry's potential and the growing dependence on AI tools and infrastructure for future tech developments.
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📈 Sentiment Rating
💡 Tip: Use this prompt to analyze marketing materials before release
copy & paste ⬇️
“You are an assistant designed to analyze sentiment from speech data. Users will paste in a string of text and you will respond with an assessment of the response of the speaker. Rate on a scale of 1-10 (10 being highest). Explain why this rating was given.”
🔬 Resource Collector
copy & paste ⬇️
“I am an ambitious student looking to learn more about X. I want you to provide me with a comprehensive list of online resources, including blogs, articles, podcasts, social accounts & more which will give me a well-rounded understanding of subject X. Keep in mind that I am a Y learner and that I have Z budget.”
🎨 Volumetric Lighting
💡 Tip: Use “volumetric lighting” to add depth to your portraits. Below is a volumetric portrait of Ron Swanson.
What was your favorite prompt?Tell us why! |
Germany intends to nearly double its public funding for AI research to almost a billion euros within two years to catch up with AI leaders, China and the U.S.
This investment aims to bolster its economy amidst competition and establish 150 AI-focused university labs. That said, Germany still ranks 9th globally, behind the U.S in private investments alone.
Scientists have developed brain implants that transform neural activity into text, allowing individuals unable to speak for over a decade to communicate again.
One participant—Ann, who had been left without motor control from a stroke 18 years ago—could communicate with 95% accuracy.
Google is enhancing security for its Google Workspace products, including Gmail and Drive, using an AI-enhanced "zero trust" security model.
New capabilities will combine zero trust with data loss prevention, allowing AI-driven classification and control of sensitive data to improve data protection and prevent unauthorized access or leaks.
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😎 Google’s AR project hits another setback amidst “political headaches”
🇪🇺 Snapchat confirms: EU users can opt out of content personalization
💸 HuggingFace strikes $2B valuation after $200M SalesForce round
👮🏼♀️ AI is being used to track down criminals, but privacy concerns loom
🤖 Samsung’s ChatGPT demo almost ready for public rollout
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Until next time, Martin & Arturo.
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