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Global AI Arms Race Accelerates with Cutting-Edge Tech and Strategic Investments

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FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Feb. 12, 2024 /PRNewswire/ — USA News Group  – The world is undergoing a massive AI revolution, that according to analysts at McKinsey Global Institute could add the equivalent of up to $4.4 trillion annually in value in the near future. With such immense potential on the line, an AI arms race is underway, several firms are establishing their positions by developing and acquiring new tech, including Avant Technologies Inc. (OTCQB:AVAI), C3.ai, Inc. (NYSE:AI), Snowflake Inc. (NYSE:SNOW), Apple Inc. (NASDAQ:AAPL), and even asset management firm Blackstone Inc. (NYSE:BX).

Along the important road towards this new technological integration, businesses trying to use AI in their products are facing big challenges. These challenges are mostly because of the high costs of computing power and a global shortage of data storage expected by 2025.

At the forefront of addressing these critical issues, Avant Technologies Inc. (OTCQB:AVAI) is emerging as a leader in advanced cloud supercomputing technologies. The company claims that its supercomputing network could become known as the world’s most powerful and cost-efficient private cloud infrastructure.

Avant recently strategically appointed Timothy Lantz, a veteran in the technology sector with extensive leadership experience, as in the roles of its new CEO and Director. Lantz brings over 20 years of successful experience in diverse business operations, including managing startups, driving growth, leading turnaround initiatives, and executing strategic financial exits.

Lantz’s shift to the CEO position comes after his initial involvement with Avant as the chief advisor for product development and market strategy, a role he took on when he first joined the company’s industry advisory board earlier this year.

“AI is already changing the world as we know it and Avant Technologies is well-positioned as a frontrunner to support what will undoubtedly be the next major evolutionary leap in human technological advancement,” said Lantz. “The opportunity ahead for Avant is immense and to fully realize its potential, we will have to be focused on delivering game-changing technology purpose-built for AI, with both speed and precision. A big part of my job is to enable Avant to bring new, innovative products to market quickly, build a ‘flawless execution’ culture, and position the company for hyper-growth.”

Avant is actively addressing the key issues of cost and performance, which are obstacles to the progress and market potential in AI, machine learning, and big data analytics. The company is dedicated to transforming these areas with its cutting-edge private cloud infrastructure, striving to boost performance and provide additional benefits in various industries. Their focused strategy involves cutting costs, improving computing density, and providing unique ESG (Environmental, Social, and Governance) benefits by significantly lowering electricity and water consumption.

“The proliferation of the AI, machine learning and big data analytics industries is already rapidly outpacing the capabilities of traditional cloud infrastructure for an industry that demands exponential computer power and storage capacity,” added Lantz. “We recognized this real unmet need and began working to develop a next generation, ultra-high-density supercomputing environment that will revolutionize the landscape for AI companies of all sizes and for any other users who require hyper-scalable, cost-effective computing power.”

Avant is dedicated to advancing AI technology and is creating a specialized computing environment specifically designed for AI applications. This environment is carefully developed to work smoothly with all major AI frameworks, enabling easy integration and efficient development workflows.

Shortly after announcing the launch of its no-code, self-service generative AI application in AWS Marketplace, C3.ai, Inc. (NYSE:AI) reported its Q2 2024 financial results where the company saw its total revenue grew 17% year-over-year.

“We saw unprecedented interest and traction in our generative AI offerings. Importantly, we are seeing a return to accelerating revenue growth as we continue our transition to a consumption-based pricing model,” said Thomas M. Siebel, CEO and Chairman of C3 AI.

It was a very active quarter for C3 AI, having closed 62 agreements including 36 pilots. Among these were deals with GSK, Indorama, and First Business Bank, and newly expanded agreements with Con Edison, Roche, Nucor Corporation, and Hewlett Packard Enterprises, along with more. The company also closed 40 agreements through its partner network, which includes AWS, Baker Hughes, Booz Allen, Google Cloud, and Microsoft—marking an increase of 75% to C3’s qualified opportunity pipeline with partners.

Data cloud company Snowflake Inc. (NYSE:SNOW) recently announced it would be enabling all users to securely tap into the power of generative AI with their enterprise data through its platform Snowflake Cortex. Shortly after, Snowflake released its financial results for Q3 2024, showing a 34% year-over-year growth in product revenue to nearly $700 million.

Continuing with that positive moment, Snowflake was awarded the #1 ranking on the 2023 Fortune Future 50 list. To compile this Future 50 list, The BCG Henderson Institute analyzed over 1,000 publicly traded companies, each with a market value of at least $20 billion or revenue of $10 billion in the 12 months up to the end of 2022. This evaluation includes 19 factors known for their predictive power of growth in the next five years. These factors are categorized into four groups: strategy, technology and investments, people, and structure.

“We are honored to be named at the top of Fortune’s Future 50 list and look forward to continuing to help customers solve their biggest problems and deliver real value using AI,” said Sridhar Ramaswamy, SVP of AI at Snowflake. “In this new AI era, generative AI and large language models will reshape how we live, work and do business.”

After being labeled as very conservative in its approach to AI, Apple Inc. (NASDAQ:AAPL) is allegedly preparing to invest $1 billion in the generative AI arms race to catch their rivals, according CNBC’s Mark Gruman. Just over a month after the news of that potential figure dropped, Apple quietly released a machine learning framework called MLX to help developers build models that run efficiently on Apple Silicon and deep learning model library MLX Data.

According to a social media post from Apple machine learning researcher Awni Hannun, MLX Data is a “framework agnostic, efficient, and flexible package for data loading. It’s based on a design inspired by existing frameworks like PyTorch, Jax, and ArrayFire, however MLX goes further by adding support for a unified memory model, which means arrays live in shared memory and operations can be performed on any of supported device types without performing data copies—a feature list that has Computer World claiming it to be “pretty good at first glance“.

Even asset management firm Blackstone Inc. (NYSE:BX) is getting into the mix by responding to exploding data-center demand that’s being fuelled by the AI arms race, by committing to developing $7 billion worth of data centers. The move is part of a new venture with Digital Realty Trust Inc. According to a report from Reuters, the venture plans to develop 10 data centers across four campuses in Frankfurt, Paris, and northern Virginia.

As per the terms of the deal, Blackstone will acquire an 80% ownership stake in the joint venture for about $700 million in initial capital contributions. Scheduled to close over two stages, the joint venture is set to become official by the end of the first half of 2024.

“By partnering with Blackstone, the world’s largest alternative asset manager, Digital Realty is better able to deliver capacity to meet the burgeoning demand of our hyperscale customers, by accessing a deep pool of likeminded private capital,” said Andy Power, the president and CEO of Digital Realty.

Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 

USA News Group
http://USAnewsgroup.com [email protected]

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

USA News Group is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein.  The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release.

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Sinotruk leaping forward to become world-class technology enterprise

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JINAN, China, March 2, 2024 /PRNewswire/ — On March 2, SinoTruk’s Science and Technology Innovation Award Annual Conference 2024 was grandly held, to recognize and rewarding major scientific and technological achievements and outstanding innovative talents since 2022, planning and deploying scientific and technological innovation work ahead. Tan Xuguang, Chairman and General Manager of Shandong Heavy Industry Group, Chairman of China National Heavy Duty Truck Group, attended the conference and delivered a report on scientific and technological innovative work – “Steadily stride forward, embracing change in science and technology”.

 

Over the past five years, Sinotruk has invested nearly RMB 15 billion in R&D, which is the sum of the previous 15 years. It has benchmarked against world-class standards and gradually established a full-process independent research and development system. Sinotruk technological strength has reached the forefront of the national industry. Sinotruk has reshaped the “Yellow River” heavy-duty trucks standard with technology, ranking first in China, and its high-tech indicators are leading the industry. The market share of heavy-duty trucks has increased from 16.5% in 2018 to 26% in 2023, ranking first in China for two consecutive years. In 2023, the export volume exceeded 130,000 vehicles for the very first time, a 2.6-fold increase compared to 5 years ago, making it the largest single-brand global export volume in the world.

Tan Xuguang called on all engineers to keep in mind their mission, be down-to-earth, persistent in innovation, and make long-term achievements through dedicated ten years of hard work. Learn from the global cooperation, grow and become talents through project training, and achieve through continuous value creation. Achieve your meaning in life, strive with vitality and passion while you are young. Let’s set off again for a better future for the century heavy truck industry and the world’s best heavy truck industry!

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Flash News: OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

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SINGAPORE, March 2, 2024 /PRNewswire/ — OKX, a leading Web3 technology company, has issued updates for March 2, 2024.

OKX Introduces Exclusive ‘Babylon Pioneer Pass Event’ in Collaboration with Babylon, Offering Free Pioneer Pass NFT Minting for the First 100,000 Users Who Stake on Babylon Testnet

OKX today announced the launch of its ‘Babylon Pioneer Pass Event,’ giving users who access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC) the opportunity to claim Babylon’s Bitcoin Pioneer Pass NFT. To qualify for a spot, users must access the Babylon Testnet and stake any amount of Signet Bitcoin (sBTC).

The event kicks off on February 28 and continues until March 6. Following the event, starting from March 7, participants who have been whitelisted will have the ability to mint their Bitcoin Pioneer Pass NFT using the OKX Wallet and their whitelisted address.

The process of participating in this event is straightforward and involves the following steps:

  1. Firstly, users will need to prepare by setting up their OKX and Keplr Wallets. These wallets will be crucial for interacting with the Babylon Testnet and the subsequent claiming of sBTC and BBN.
  2. Following the wallet setup, users can then claim the sBTC and BBN on Babylon’s Official Discord. These tokens will be needed for staking in the Babylon Testnet.
  3. Finally, users will need to access Babylon’s official website, where users can actively engage, stake their tokens and claim their whitelist spots.

Participation in the event offers a multitude of benefits. Users can engage actively with the Babylon Testnet, which in turn enhances their understanding of the Babylon protocol and its functionalities. Furthermore, participants contribute to the development and evolution of the Babylon protocol by being active users.

The ‘Babylon Pioneer Pass Event‘ is a result of OKX’s partnership with Babylon, a trustless Bitcoin staking protocol. The Bitcoin Pioneer Pass, Babylon’s first commemorative Non-Fungible Token (NFT), is a highlight of this event, representing a significant milestone for both OKX and Babylon.

For more information, please visit the OKX Support Center.

About OKX

A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 80 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
  • DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
  • NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
  • Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.

OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.

To learn more about OKX, download our app or visit: okx.com

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UnionPay International and The Tourism Organisation of Serbia Sign MOU to Enhance Tourist Payments and Promote Serbia as a Premier Destination

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BELGRADE, Serbia, March 1, 2024 /PRNewswire/ — UnionPay International, the leading global card scheme, has entering into a Memorandum of Understanding (MOU) with The Tourism Organisation of Serbia (TOS). This strategic partnership aims to enhancing the payment experience for tourists and to further facilitate tourism growth in Serbia.

The MOU signing ceremony took place at Belgrade on 27th February 2024, marking the beginning of a collaborative effort between UnionPay International and TOS. The agreement outlines various areas of cooperation:

Jointly promoting Serbia as Travel Destination: Through optimised marketing resources, both parties aim to promote Serbia as tourist destination among UnionPay cardholders, with its rich cultural heritage and unique experiences, provide comprehensive tourism information and payment guides for the tourists visiting Serbia. UnionPay International aims to provide more diversified and convenient payment choices, and ensuring seamless payment experiences for travellers visiting the country.

Privileges and Benefits: The partnership will explore opportunities for preferential activities that bring additional benefits to UnionPay cardholders visiting Serbia. This approach aims to boost the attractiveness of the local tourism market and create a win-win situation for both parties.

Ms Bomee Sheng, Product Director of UnionPay International, expressed her enthusiasm about the collaboration, stating, “We are delighted to partner with The Tourism Organisation of Serbia to promote tourism and facilitate payment experiences in Serbia. Through this partnership, we aim to provide UnionPay cardholders with enhanced convenience and benefits, ultimately contributing to the growth of Serbia’s tourism industry.”

Ms Marija Labović, CEO of National Tourism Organisation of Serbia, commented, “This partnership with UnionPay International comes at an important time as we strive to become the most popular all year destination in the region.” She outlines Belgrade’s popularity and the diversity of attractions from city breaks to natural retreats and she is looking forward to the Expo 2027 in the capital, “By leveraging UnionPay’s global network and advanced payment solutions, we are confident that we can attract more visitors to Serbia and provide them with memorable experiences.”

In recent years, Serbia has emerged as one of the most attractive destinations for Chinese visitors. It is hailed as the “heart of the Balkans” and offers a unique blend of captivating landscapes and rich cultural heritage. Its visa-free entry policy, coupled with the exceptional acceptance coverage of UnionPay cards, has played a significant role in attracting Chinese tourists. With over 90% of local merchants and ATMs supporting UnionPay payments and withdrawals, travellers can enjoy seamless payment experiences across various sectors, including retail, dining, hotels, gas stations, toll stations, and tourist attractions.

About The Tourism Organisation of Serbia (TOS)

The Tourism Organisation of Serbia (TOS) was formed under the Law on Tourism of 1994 as the institution in charge of promoting Serbian tourism in domestic and foreign markets, as well as performing other duties relevant for the development of communication and advertising activities in Serbian tourism. The activities of TOS are focused on positioning Serbia’s tourism products in domestic and foreign markets and exploring Serbia’s comparative advantages in terms of tourism, including its geostrategic position and its historical, cultural and natural identity.

About UnionPay International

UnionPay International focuses on the international business of UnionPay, a global payment network that serves the world’s largest cardholder base. Collaborating with over 2,600 partners globally, UnionPay acceptance now reached to 183 countries and regions. Outside the Chinese Mainland, UnionPay is accepted at nearly 67 million merchants and 1.7 million ATMs.

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