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Andy Jassy Touts AI Revolution

Andy Jassy Touts AI Revolution

Plus: Check these Ai Tools

Cash Nut
April 12, 2024

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In Today’s Edition

Eight Key Lessons for Rocket-Shipping AI Products
Amazon CEO Touts AI Revolution While Committing to Cost Cuts
Morgan Stanley's shares close down more than 5%
Macs to Get AI-Focused M4 Chips Starting in Late 2024
Researchers find a new organelle evolving

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🚀Startups Nuts

Eight Key Lessons for Rocket-Shipping AI Products

This article outlines eight key lessons for successfully launching AI products, emphasizing the importance of rapid execution, customer-driven development, and continuous innovation. It highlights strategies shared by leaders from companies like Adobe, Notion, and Perplexity, such as leveraging user feedback for product improvement, structuring teams for flexibility, managing costs, and internally testing features before release.

Other News

Varda Space, an in-space manufacturing startup, raised $90 million
Colaesce.io, a data management software provider, raised $50 million
Electronica Finance, a micro and SME loans provider, raised $48 million
Nexamp, a solar company, raised $520 million
Cyera, a cloud data security startup, raised $300 million
FloQast, a workflow automation software provider, raised $100 million
Elucent Medical, a surgical treatments tools provider, raised $42.5 million
Onego Bio, an animal-free egg protein developer, raised $40 million

🏭Business Nuts

Amazon CEO Touts AI Revolution While Committing to Cost Cuts

In his annual letter to shareholders, Amazon CEO Andy Jassy laid out a vision for how generative AI could become the company's next pillar of growth. The company has invested $4 billion in AI startup Anthropic and added prominent computer scientist and AI expert Dr. Andrew Ng to its board. Amazon is taking a three-pronged approach to AI innovation: it will focus on AI models, applications built on top of the models, and the chips that power the technology. The company is optimistic that a lot of world-changing AI will be built on top of AWS

Other News

Morgan Stanley's shares close down more than 5% on report that multiple federal regulators are investigating its wealth management unit
Costco now sells $100m-$200m in silver and gold per month, thanks to consumers lured by online chatter and rising inflation
CarMax experienced its largest stock drop in 18 months, plunging up to 14% after fourth-quarter earnings fell short of analyst expectations due to escalating monthly payments deterring buyers. The company cited vehicle affordability issues driven by inflation, higher interest rates, and stringent lending conditions as key factors behind the disappointing results
Rent the Runway saw its shares soar by a record 162% to $19.38 following a fourth-quarter earnings report that exceeded Wall Street's forecasts, signaling potential recovery for the fashion-rental company. The company's recent 1-for-20 reverse stock split, enhanced subscriber services, and strategic inventory shift towards current fashion trends spurred a surge in performance

📱Tech Nuts

Macs to Get AI-Focused M4 Chips Starting in Late 2024

The entire Mac lineup may get the M4 chip in late 2024 and early 2025. The chip will start appearing in the iMac, MacBook Pros, and Mac mini machines first before being implemented into the MacBook Air, Mac Studio, and Mac Pro. The M4 processor is expected to come in at least three varieties. It will feature an improved Neural Engine with an increased number of cores for AI tasks.

Other News

AI-generated "Dune"-inspired song from new platform Udio
Meta is testing its Meta AI chatbot in markets outside the US, starting with India
Humane, an AI Startup releases its widely anticipated Ai Pin, a wearable badge that doubles as an AI-powered smart device.
Google's DeepMind unveils robots capable of playing soccer after being trained on the rules via a type of machine learning known as deep reinforcement learning
Meta is testing new Instagram safety features to shield younger users from cyberflashing and sextortion scams, including auto-blurring images with detected nudity and a pop-up warning before sending sensitive images

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🎁Miscellaneous

Researchers find a new organelle evolving

Endosymbiosis is a process in which a once free-living organism is incorporated into a cell. This can result in the organism becoming an organelle, a compartment within cells surrounded by membranes that performs specialized functions. Researchers may have found a new case of the extremely rare event. An organelle devoted to fixing nitrogen from the atmosphere is being observed in the process of specialization. Called a nitroplast, the organelle is limited to a single lineage of algae, likely due to its relatively recent origin, with the relationship between the nitroplast and its host cell only dating back about 100 million years.