Financial News
NVIDIA - AI and gaming sales drive record revenues
No news or research item is a personal recommendation to deal. All investments can fall as well as rise in value so you could get back less than you invest. Nvidia reported record third quarter revenue of $7.1bn, up 50% year-on-year, with particularly strong growth in data centres and professional visualization. Operating profits rose 91% to nearly $2.7bn, with only a modest increase in sales, general & administrative expense. The group plans to pay dividends of $0.04 cents per share in the final quarter.
Why Supply Chain Management Needs Machine Learning
Modern disruptive technologies like Machine Learning (ML) and Artificial Intelligence (AI) make their presence known in today's competitive markets. Organizations continuously attempt to improve profit margins, cut down on expenses, and provide a superior customer experience. It is evident that Artificial Intelligence and Machine Learning have become buzzwords in various industries, but what is their role, and what do they mean when it comes to Supply Chain Management? Using machine learning in logistics and supply chain management may aid in the automation of various routine processes, allowing businesses to concentrate on more strategic and significant business operations. Artificial intelligence and machine learning applications can be seen in every element of the supply chain process, including production, inventory management, procurement, warehousing, shipping, and customer support.
Chipmaker Nvidia forecasts robust revenue on AI, metaverse buzz
Nvidia Corp on Wednesday forecast fourth-quarter revenue above Wall Street expectations, betting on growth in its data centre business as more internet companies set out to invest in artificial intelligence and the metaverse. The company's shares were up nearly 4 percent in extended trading. They have more than doubled this year. The world's biggest maker of graphics and AI chips expects current-quarter revenue of $7.40bn, plus or minus 2 percent, above analysts' average estimate of $6.86bn, according to IBES data from Refinitiv. The coronavirus pandemic boosted demand for graphic chips used in gaming consoles and computers as consumers staying at home spent more time playing video games, with support also from cryptocurrency miners.
Helm.ai raises $26M for 'unsupervised' autonomous driving software
Learn more about what comes next. Helm.ai, a startup creating software for autonomous vehicles, today announced that it raised $26 million in series B financing led by Amplo, JMPartners, Base Capital Funding, and Freeman Group with participation from ACVC, One Way Ventures, Binnacle Partners, and individual investors. According to CEO Vlad Voroninski, the funding will help Helm "better serve its customer base" while supporting product expansion. Self-driving technologies have captured the attention of investors during the pandemic, particularly as strains on the supply chain -- exacerbated by a driver shortage -- make apparent the usefulness of automated delivery trucks. For example, earlier this year, self-driving software startup Embark announced plans to go public in a deal that would value the company at more than $5 billion.
2 Top AI Stocks Ready for a Bull Run
Shares of iRobot (NASDAQ:IRBT) and C3.ai (NYSE:AI) have taken a beating in 2021, falling 43% and 72%, respectively, off their all-time highs. While the two experienced different causes for these drops, they don't play major roles in the long-term thesis for either company. After iRobot was hit with unexpected tariffs this year and C3.ai lost its IPO hype, both stocks have fallen drastically. But those factors might disappear in 2022, meaning that these two companies have a bright future. When you think of artificial intelligence (AI) and machine learning, iRobot might not be the first company that comes to mind, but it has the potential to have a strong AI foundation.
China's technology giants expect a slump in profits
China's biggest-listed companies Tencent and Alibaba are expected to report a fall in profits and slowing revenue growth in the July-September quarter, hurt by the year-long regulatory crackdown that has upended its technology industry. Beijing has reasserted control over its once-freewheeling internet sector, punishing well-known names for engaging in what were previously considered regular market practices and drafting new rules to change how they compete and engage users. "We believe the financial impact of regulatory headwinds in China will be reflected in (third quarter) earnings and (fourth quarter) guidance," KGI Asia analysts said in a note last month. Tencent Holdings Ltd – the country's largest firm by market value and its first Big Tech name to report earnings on Wednesday – is expected to post a 12 percent fall in quarterly profit, its first drop in two years, according to Refinitiv data. The gaming giant's revenue is expected to rise 16.4 percent, the slowest pace since the first quarter of 2019, after the government imposed new limits on the amount of time minors can spend playing video games.
Logistic Industries To See AI Revenue Growth
In both the logistics and transportation sectors, artificial intelligence is implemented in a wide variety of ways. For instance, it makes it possible for customers to track the courier in real-time and such services are provided by most of the courier companies like ePacket. In addition to that, AI is also used to analyze the global shipping conditions like natural disasters that may hit the shipping route and other time-sensitive elements. In addition to that, companies like FedEx, Amazon and Wing Aviation LLC. are experimenting with drone delivery pilots to reduce the dependence on manual workers and to speed up the process. AI can further be used in the logistics sector for planning and scheduling, sales and marketing, warehouse management, customer care and shipping and delivery.
AI Merged with Electrical Brain Stimulation Improves Human Brain Function
In a new study, researchers merged artificial intelligence with targeted electrical brain stimulation to show that it is possible to improve specific human brain functions related to self-control and mental flexibility. The findings come from a human study conducted at Massachusetts General Hospital in Boston among 12 patients undergoing brain surgery for epilepsy--a procedure that places hundreds of tiny electrodes throughout the brain to record its activity and identify where seizures originate. The study is the first to show that a specific human mental function linked to mental illness can be reliably enhanced using precisely targeted electrical stimulation and that there are specific sub-parts of the internal capsule brain structure that are particularly effective for cognitive enhancement. Lastly, they show that a closed-loop algorithm used as a controller was twice as effective as stimulating at random times. This work is published in Nature Biomedical Engineering in the article, "Closed-loop enhancement and neural decoding of cognitive control in humans."
Report: Enterprise use of AI to predict cash flow expected to increase 450%
Enterprise deployment of AI and machine learning (ML) for cash flow forecasting is expected to increase 450% over the next two years, according to the recently released 2021 Cash Forecasting & Visibility Survey from GTreasury and Strategic Treasurer. The survey of nearly 250 enterprises across industries highlights a growing appetite for AI/ML modernization among finance and treasury teams seeking more accurate and more immediate cash flow forecasts. To sharpen forecasting capabilities (which are critical for determining business direction and priorities), today's enterprises are embracing new technology strategies and refining methods to introduce greater automation and efficiency. While just 6% of respondents currently use AI/ML technology to predict and understand their cash forecasting, enterprises' reported plans indicate that, within two years, that number will reach 27%. Respondents also indicate a similarly bright trajectory for regression analysis: 12% use it currently, but projected usage will grow to 29% in two years, and 43% use or expect to use it at some point in the future.