Financial News
How AI helped Walmart go from 700,000 to 60 million items online
Walmart.com is bigger than you might think. The site has 60 million items for sale, Walmart CTO Jeremy King said at the VB Summit in Berkeley, California today. That's up from 700,000 items when he joined Walmart in 2011, and it doesn't include Jet.com, the ecommerce site Walmart acquired last year. Online sales have also made notable gains: The company reported a 67 percent year-over-year increase in quarterly online sales for the three months ending in June of this year. The secret to the expansion in inventory, said King, is artificial intelligence.
Investors Buy NVIDIA Corporation (NVDA) on Weakness - Week Herald
Traders purchased shares of NVIDIA Corporation (NASDAQ:NVDA) on weakness during trading hours on Monday. Of all companies tracked, NVIDIA Corporation had the 13th highest net in-flow for the day. NVIDIA Corporation traded down ($0.28) for the day and closed at $196.62 A number of research analysts have recently issued reports on NVDA shares. Zacks Investment Research upgraded NVIDIA Corporation from a "hold" rating to a "strong-buy" rating and set a $169.00
Xilinx's Upcoming Results Are Only Part of the Picture
Investors might have expected Xilinx (NASDAQ:XLNX) to set the stock market on fire this year as it is pursuing growth in the fast-growing fields of artificial intelligence (AI) and cloud computing. But the chipmaker has underperformed the NASDAQ-100 Technology Sector so far this year despite posting steady growth in its revenue and earnings. The stock market has remained indifferent toward Xilinx's quarterly performances even though it stands to gain big from the growing adoption of its programmable chips in data centers, automotive solutions, and 5G wireless communications. But will the market's attitude toward Xilinx change with its upcoming fiscal second-quarter report that's due on Oct. 25? Let's take a look. Xilinx doesn't expect a massive improvement in its second-quarter revenue and earnings as compared to the year-ago quarter.
Cisco Announces Intent to Acquire Perspica
Earlier this year, Cisco announced the acquisition of AppDynamics โ uniquely positioning Cisco to enable enterprises to accelerate their digital transformations by actively monitoring, analyzing and optimizing complex application environments at scale. Today, we are excited to announce the intent to acquire Perspica, the first acquisition to support and accelerate the AppDynamics vision. In our experience working with the world's largest companies, we know that machine learning is only as good as the data it ingests; only as relevant as the data's timeliness; and only as valuable as the data's business context. Cisco's AppDynamics data sets span wherever the application components are deployed, and there is a massive opportunity to correlate this with user experience and business context. With the addition of Perspica to our AppDynamics capabilities, customers will be able to further take advantage of machine learning capabilities to analyze large amounts of application-related data, in real time and with business context, including when an application is deployed in a company's public, private and multiple cloud environments.
An AI bot operated by Wells Fargo just slapped sell ratings on Google and Facebook
Google, which makes almost all of its money on ads and internet user data, is undertaking herculean efforts to get a grip on artificial intelligence (AI). It's trying to develop software that allows machines to think and learn like humans. This includes the $525 million acquisition in 2014 of DeepMind, which is said to have lost an additional $162 million in 2016. Google is trying to load smartphones with AI and come up with AI smart speakers and other gadgets, and ultimately AI systems that control self-driving cars. Facebook, which also makes most of its money on ads and user data, is on a similar trajectory, but spreading into other directions, including a "creepy" run-in with two of its bots that were supposed to negotiate with each other but ended up drifting off human language and invented their own language that humans couldn't understand.
Industrial cleaning equipment maker Nilfisk goes public
Danish Nilfisk Holding A/S began being listed on the NASDAQ Stock Exchange under symbol NLFSK after being spun off from NKT A/S, a Danish conglomerate. Nilfisk is one of the world's leading suppliers of professional cleaning equipment with a strong brand and a vision for growth in robotics. Nilfisk expects that 10% of their revenue will come from autonomous machines within the next 5-7 years. In that pursuit, Blue Ocean Robotics and Nilfisk recently announced a strategic partnership to develop a portfolio of intelligent cleaning machines and robots to add to the Nilfisk line of industrial cleaners. "We estimate that approximately 70 percent of the cost of professional cleaning goes to labor. At the same time, the cleaning industry is one of the industries with the highest employee turnover. We therefore experience a significant need among our customers to introduce autonomous machines that can solve standardized cleaning tasks so that cleaning operators can be used for other assignments. We have a clear strategy to develop our product portfolio in partnership with highly-specialized technology companies that are the best in their field. We already have good experiences with this, and we are looking forward to starting this partnership with Blue Ocean Robotics, which complements our other partnerships very well."
trivago acquires AI platform tripl from Hamburg, Germany - Peter von Stamm
The acquisition will enhance trivago's product with personalization technology which uses both Big Data and a customer-centric approach. Founded in 2015, tripl has developed an algorithm to give tailored travel recommendations by identifying trends in users' social media activities and comparing it with in-app data of like-minded users. The AI-driven product imitates the way a travel agent would recommend hotel experiences relevant to the customer, and combines it with the ease of online services. Following the acquisition, the former CTO and creator of the tripl algorithm, Hendrik Kleinwรคchter, will join trivago's development team to continue breaking new ground in personalization. Founded in 2005 and headquartered in Dรผsseldorf, Germany, trivago is a global hotel search platform, focused on reshaping the way travelers search for and compare hotels.
Amazon has acquired 3D body model startup, Body Labs, for $50M-$70M
TechCrunch has learned that Amazon has acquired Body Labs, a company with a stated aim of creating true-to-life 3D body models to support various b2b software applications -- such as virtually trying on clothes or photorealistic avatars for gaming. One source suggested the price-tag Amazon paid for Body Labs could be $100M . However a second well-placed source suggested it's closer to $70M than $100M -- so we're pegging it at between $50M and $70M. An Amazon spokeswoman declined to comment on the acquisition. New York based Body Labs was founded in March 2013, according to CrunchBase, and had raised more than $10M across two investment rounds -- closing an $8M Series A in November 2015.
Apple's iPhone X Delay Means High Demand Won't Happen Until 2018 [Report]
Wall Street analysts say the iPhone X will push a large number of consumers to upgrade their devices, but KGI Securities analyst Ming-Chi Kuo says the "super cycle" will happen until 2018, according to an investor's note obtained by MacRumors. Apple will release the iPhone X in November, but Kuo says "the real super cycle" won't occur until next year. A supercycle is described as a high demand in upgrading to a new phone. Wall Street analysts believe many people who bought the iPhone 6 and iPhone 6 Plus three years ago will want to get a brand new device this year. Apple has been reportedly struggling with the iPhone X's main feature, the Face ID.