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Elliott Claims that NVIDIA is a “Bubble” and that AI is “Overhyped.”

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Nations Developing their own AI Models Contribute to Nvidia's Growing Chip Demand
Reuters

(VOR News) – Elliott Management, a hedge fund, has notified investors that the chipmaking giant Nvidia is now suffering a “bubble” and that the artificial intelligence technology that is driving the share price of the firm is “overhyped.” Both of these statements were revealed to investors by Elliott Management.

The Florida-based corporation that manages around $70 billion in assets recently wrote a letter to its clients, which was accessed by the Financial Times.

The letter was sent to clients. According to the letter, the corporation warned that the megacap technology stocks, and NVIDIA in particular, were currently in a state of “bubble land.”

The report also noted that NVIDIA artificial intelligence is “overhyped with many applications not ready for prime time” and that it was “sceptical” that huge technology companies would continue to purchase graphics processing units made by the chipmaker in such large quantities.

NVIDIA included both of these statements in its report.

According to the author, many of the applications that are intended to be achievable with artificial intelligence “will never be cost-effective, will never actually work, will consume too much energy, or will prove unreliable.”

A number of industries will be revolutionised by artificial intelligence as it becomes an emerging field.

Chip stocks, which have experienced a NVIDIA significant upswing due to investor excitement around the promise of generative artificial intelligence, have experienced a decline as a result of doubts regarding whether or not large corporations will continue to spend a significant amount of money on artificial intelligence.

This is because investors are uncertain about whether or not large corporations will continue to invest in artificial intelligence projects.

Intel shares experienced a twenty percent decline when the chipmaker declared its intention to lay off about fifteen thousand employees. This news came after the market in the United States closed on Thursday.

Nvidia is the leading company in powerful processors.

Which are necessary for the construction and implementation of enormous artificial intelligence systems. One example of such a system is the technology that forms the foundation of OpenAI’s ChatGPT.

Tens of billions of NVIDIA dollars have been invested in the creation of artificial intelligence infrastructure by a number of corporations over the course of the previous few months.

These companies include Microsoft, Meta, and Amazon, among others. The amount of financing that has been allotted to Nvidia is quite substantial. While this is going on, a sizeable number of its most important clients are simultaneously working on the development of their very own chips that are in direct competition with those of the company.

Since the end of June, the stock of the firm has experienced a decline of more than twenty percent, despite the fact that it momentarily held the position of being the largest corporation in the world with a market value valued at more than $3.3 trillion.

This is due to the fact that Wall Street has become increasingly apprehensive about the feasibility of investments in artificial intelligence over the long run.

In spite of this, the chipmaker has still managed to accomplish a gain of more than 600 percent since the beginning of the previous year and a gain of about 120 percent so far this year.

The letter that Elliott sent to its investors informed them that the company had, for the most part, refrained from investing in bubble securities, such as those that were included in the Magnificent Seven.

At the end of March, Elliott was reported to have possessed a tiny investment in Nvidia, which was estimated to be worth around $4.5 million, according to regulatory filings. With that being said, it is not known for how long Elliott maintained this position.

The hedge fund has also been wary of betting against high-flying, major technology stocks, which is another situation in which they have been cautious. According to what they have said, shorting these companies might be termed “suicidal.”

In the letter that Elliott, a firm that was founded in 1977 by billionaire Paul Singer, sent to its customers, the corporation asserted that artificial intelligence has not yet failed to produce the tremendous gain in productivity that was promised.

In a statement, it was noted that “there are few real uses,” with the exception of “summarising notes of meetings, NVIDIA generating reports, and assisting with computer coding.”

The report went on to state that artificial intelligence was, in essence, software that had not yet generated “value commensurate with the hype.” The report went on to discuss this further.

The company has only had a loss of money in two calendar years since it was founded, and it has enjoyed a gain of around 4.5 percent in the first half of current year. Since its creation, the company has only never experienced a loss of money.

Elliott believes that the market bubble might burst at any moment if Nvidia reveals data that is negative and “breaks the spell.” According to Elliott, this is the worst-case scenario that may take place.

SOURCE: FTN

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Microsoft 365 is Unavailable to Thousands of Customers, According to Downdetector.

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Microsoft

(VOR News) – The website Downdetector.com, which monitors outages, reports that Microsoft’s productivity software suite has been unavailable to more than 16,000 users on Thursday.

A flawed software update that was issued by CrowdStrike (NASDAQ:CRWD), a firm that offers services linked to cybersecurity, was responsible for the damage that occurred to around 8.5 million Windows personal computers.

These systems were targeted by malicious malware. CrowdStrike is the one who distributed the update. As a consequence of this, a wide variety of businesses, including those operating in the fields of healthcare, banking, and aviation, among others, have experienced a negative impact on their operations.

Microsoft’s circumstances led to this.

“We are investigating an issue where users may be unable to access multiple Microsoft (NASDAQ:MSFT) 365 services,” the manufacturer of Windows noted in a post on X. “We are looking into the matter.” An official statement from the corporation stated, “We are looking into the matter.”

“We are looking into the matter.” An official statement was released by the company, which stated, “We are looking into the matter.” The statement was issued by the corporation officially. “We are looking into the matter.” “We are looking into the matter.”

Microsoft did not immediately provide a response to the questions that were taken into consideration when the firm was asked about the nature and cause of the outage, as well as when it anticipated a recovery. The company was also asked about when it anticipated a recovery.

Additionally, the company arrived at the judgement that it would not be the appropriate time to provide a response at this particular moment in time.

The Azure cloud platform, as an alternative, made an announcement on X that it was beginning an investigation into customer reports of a possible problem connecting Microsoft’s services to AT&T (NYSE:T) networks.

Microsoft announced the study would start right away.

There was a statement in the announcement that the investigation would be carried out. The investigation is currently being carried out with the intention of addressing the allegations that have been made.

It was the reports that were received from customers that sparked the investigation, as stated in the previous sentence.

Despite the fact that the telecom operator did receive a request for a response, they did not quickly react to the question that was asked (despite the fact that they did receive the request).

According to the information that was provided, the number of events that occurred with Microsoft 365 had reached its peak point, which was approximately 23,000, and there were indicators that the issues were beginning to decrease, as was claimed.

It has been mentioned by a large number of people on social media that the services that Microsoft offers are functioning in an efficient manner. This assertion is in accord with the assertions that have been made by consumers.

Approximately 16,500 customers reported experiencing issues with Microsoft’s 365 products at approximately 9:12 a.m. Eastern Time, while approximately 4,000 customers reported experiencing issues with AT&T services at the same time.

These two reports were delivered to the company that received them. One thing that should be brought to your attention is the fact that both of these incidents took place at the same moment. There is a single underlying cause that can be traced back to the simultaneous appearance of each of these difficulties.

Downdetector, a company that monitors outages by aggregating status updates from a number of sources, including issues that users have registered on its site, was the first company to deliver this kind of information on its platform.

Downdetector is a network monitoring and monitoring service provider. One of the companies that monitors outages is called Downdetector.

SOURCE: Investing

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Google Deleting Gmail Accounts: Three Steps to Save Your

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Google Deleting Gmail Accounts
Google is tightening the reins on inactive users - File Image

If you haven’t checked your Gmail account in a while, it may not be there for much longer. With billions of Gmail accounts in use, Google is tightening controls on inactive users.

Yes, Google will trash your long-forgotten inbox full of dusty digital cobwebs — but don’t worry, there are a few steps you can do to rescue it, according to Tom’s Guide.

Earlier this year, Google warned customers via email about the dormant Account Policy, which targets accounts that have been dormant for more than two years. If your account has been inactive, it may be permanently destroyed, including with all of the data in Gmail, Google Drive, and Google Photos.

With recent updates and the addition of AI tools, Google is obviously prioritising Gmail efficiency.

It’s no secret that Google has invested much in keeping Gmail as safe as possible for its users.

These initiatives demonstrate Google’s commitment to building a secure email environment in which users can connect with confidence, knowing that their personal information and conversations are well-protected from various online risks such as phishing emails or spam.

Gmail accounts that have been dormant for more than two years are more vulnerable to assaults because they are less likely to have up-to-date security features such as two-factor authentication.

Step 1: send an email.

To avoid having your old Gmail account deleted, you must send an email at least once per two years.

This simple action informs Google that your account is active, ensuring that it does not become a victim of mass deletion.

Step 2: Watch a YouTube video.

To demonstrate that your account is active, use Google services such as sending an email, sharing a photo on Google Photos, or viewing a YouTube video while signed in.

Google views these activities, as well as acts such as using Google Search or Google Drive, as indicators of an active account.

Step 3: Use Google Search.

Using Google Search while logged into your account is another simple approach to show activity and protect your account from termination.

Whether you’re looking for a quick fact, directions, or the most recent news, any search counts as engagement and keeps your account from being marked as inactive.

That is all it takes! Engaging in any of these activities at least once per few years will protect your account from deletion. You can carry out these actions on any device because the policy is linked directly to your account.

If you haven’t accessed your account in a while, conduct a Google Account Security Check-Up. This will allow you to ensure that all necessary security measures are in place to protect your account from potential attacks.

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Why Brazil Supreme Court Judge Banned X And What Elon Musk Said

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Elon Musk's X social network banned - Getty Images

Brazil’s telecommunications regulator said on Friday it was banning access to Elon Musk’s X social network, formerly Twitter, in the country to comply with a judge’s decision following a months-long fight with the billionaire investor.

The move comes after X failed to meet a court-imposed deadline on Thursday evening to identify a legal representative in Brazil, resulting in the suspension.

Justice Alexandre de Moraes of the Brazilian Supreme Court and Elon Musk have been feuding in public for months after X failed to comply with legal orders to ban users suspected of spreading “fake news” and hate messages.

X said Moraes threatened to arrest one of the company’s legal agents in Brazil if they did not comply. Elon Musk’s platform had closed all of its Brazil offices owing to what it called “censorship” by the judge, but its service remained open to users in the country.

When does it take effect?

Moraes ordered that the social media giant be taken down immediately in Brazil. Shutting down the messaging network may take hours or days since Anatel must negotiate with telecommunications operators to remove X traffic.

The Supreme Court judge also froze Musk’s Starlink’s financial assets, issuing an order to restrict the accounts of the satellite internet network, which has rapidly expanded its user base in Brazil.

Moraes’ motivation was to cover overdue fines totalling R$18.5 million reais ($3.28 million) that he had previously imposed on X for defying judicial rulings. In response to a post about Starlink accounts being suspended, Elon Musk referred to Moraes as a “dictator” on X.

How will X be shut down?

Under Brazilian internet legislation, social media platforms must have a representative based in the country. The judge stated that corporations that violate Brazilian law may have their operations temporarily halted. Anatel, the regulator, has begun to alert carriers to guarantee they drop X. Users could still get around the blockage by using VPNs.

To close that loophole, Moraes stated that people or corporations attempting to maintain access to the social network in this manner could face a daily fine of up to R$50,000 ($8,909).

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