NVIDIA Ignites $300B AI Stock Frenzy

Plus x-risk warnings from Eric Schmidt and a Turing Award Winner

The AI Breakdown First Five - Thursday May 24, 2023

A note: for the rest of this week, we're going to be trying this new format. Vote below on whether you like it, or whether you'd prefer what we've been doing with the AI Breakdown previously!

5. Grimes on Grimes

Even as the industry side of the music industry prepares for its biggest battle since Napster, some artists are hurling themselves into the avant garde. A few weeks ago Grimes announced that other artists were welcome to AI her vocals and she’s split royalties with them like any other collaborator, and now she’s reviewed a few of the results.

4. Thoughts-to-Video

The march towards mind-reading continues. Researchers from the University of Singapore have recently successfully reconstructed video from fMRI scans with 85% semantic accuracy. While the approach is still nascent, the use cases from neuroprosthetics to gaming to turning-all-the-scifi-you-read-as-a-kid-into-reality are tantalizing.

3. Rogue AI’s May Arise

2018 Turing Award winner Yoshua Bengio recently announced that he’d be doing more to try to stop the accelerating AI arms race. He’s just published a piece about AI X-risk called “How Rogue AI’s May Arise.” Speaking at a Wall Street Journal event in London yesterday, former Google CEO Eric Schmidt hit similar themes.

2. Robots Everywhere

Over the last few weeks, we’ve seen robot demos from Tesla Optimus and 1X EVE. Boston Dynamics also shared a video of their robots with ChatGPT to enable linguistic interaction. Now, robotics startup Figure has announced a $70m Series A to build a commercially available bipedal robot.

1. NVIDIA Earnings AI Frenzy Competes with Debt Ceiling Worries

Even the possibility of US debt default can’t stop the stock market momentum generated by AI stocks. NVIDIA projected $11B in sales for the quarter, massively exceeding the $7.2B analysts projected, triggering a 25% jump in their share price specifically and a $300B rally in AI-related stocks overall.

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Signing off from the future’s past - NLW