Biopharma companies are relying more and more on artificial intelligence and machine learning (AI/ML) to help them uncover the intricacies of disease mechanisms and open up strategies to develop novel medicines for treatment. As a result, the BioWorld Artificial Intelligence price-weighted index, which includes biopharmaceutical companies, medical devices and health care services companies, has climbed in value and is currently up almost 37% year-to-date. Fueling the index has been biopharmaceutical company Bioxcel Therapeutics Inc., of New Haven, Conn., which is utilizing artificial intelligence to identify improved therapies in neuroscience and immuno-oncology. Its shares (NASDAQ:BTAI) have been on a tear so far this year, gaining a whopping 229%, catalyzed by significant clinical progress in its product pipeline. In July, the company reported that it had initiated an expanded access program at Massachusetts General Hospital (MGH) to provide its alpha 2A adrenoceptor agonist, BXCL-501, a sublingual thin-film formulation of dexmedetomidine, to individuals diagnosed with COVID-19 who are critically ill in the intensive care unit and may require calming or arousable sedation.

Walmart has had drone delivery ambitions for years now, and today they've announced a partnership with Zipline for on-demand delivery of "health and wellness" products. Zipline drones aren't the quadcopters that most think of for these types of delivery services. Instead, they're gliders that have longer range and won't just drop out of the sky if something fails. Trial deliveries using Zipline's drones will take place near Walmart headquarters in northwest Arkansas with a plan to start early next year. Walmart says that the Zipline drones will be able to operate within a 50-mile radius, and they produce no carbon emissions.

NVIDIA and SoftBank Group Corp. (SBG) today announced a definitive agreement under which NVIDIA will acquire Arm Limited from SBG and the SoftBank Vision Fund (together, "SoftBank") in a transaction valued at $40 billion. The transaction is expected to be immediately accretive to NVIDIA's non-GAAP gross margin and non-GAAP earnings per share. The combination brings together NVIDIA's leading AI computing platform with Arm's vast ecosystem to create the premier computing company for the age of artificial intelligence, accelerating innovation while expanding into large, high-growth markets. SoftBank will remain committed to Arm's long-term success through its ownership stake in NVIDIA, expected to be under 10 percent. "AI is the most powerful technology force of our time and has launched a new wave of computing," said Jensen Huang, founder and CEO of NVIDIA.

Nvidia agreed to purchase Arm for up to $40 billion in cash and stock, the companies said Sunday night. This mammoth deal in the chip industry is expected to bolster AI and GPU powerhouse Nvidia's chip portfolio, even as it's sure to attract antitrust attention in the smartphone market. Nvidia will pay Softbank, the company's current owner, a total of $21.5 billion in Nvidia stock and $12 billion in cash, including $2 billion payable at signing. Nvidia will also issue $1.5 billion in equity to Arm employees. It may also pay Softbank up to $5 billion in cash or stock if Arm meets specific financial performance targets--bringing the final purchase price up to $40 billion -- the largest chip deal ever.

Bank of America Corp. has begun using artificial intelligence to predict the likelihood of companies defaulting on loans. "Today we present our inaugural work on applying the latest machine learning tools to analyzing the credit risk," Bank of America credit strategists Oleg Melentyev and Eric Yu and head of predictive analytics Toby Wade said in a research note Friday. They have started using natural language processing to digest earnings-calls transcripts in order to estimate companies' probability of default over the next 12 months. In expanding their default model with the help of AI, the credit strategists seek to detect language used by chief executive officers and chief financial officers that signals a company's high likelihood of default. Phrases that link to defaulting include cost cutting, asset sales, and cash burn, they said.

For years, the lidar business has had a lot of hype but not a lot of hard numbers. Dozens of lidar startups have touted their impressive technology, but until recently it wasn't clear who, if anyone, was actually gaining traction with customers. This story originally appeared on Ars Technica, a trusted source for technology news, tech policy analysis, reviews, and more. Ars is owned by WIRED's parent company, Condé Nast. This summer, three leading lidar makers have done major fundraising rounds that included releasing public data on their financial performance.

For years, the lidar business has had a lot of hype but not a lot of hard numbers. Dozens of lidar startups have touted their impressive technology, but until recently it wasn't clear who, if anyone, was actually gaining traction with customers. This summer, three leading lidar makers have done major fundraising rounds that included releasing public data on their financial performance. The latest lidar maker to release financial data is Ouster, which announced a $42 million fundraising round in a Tuesday blog post. That blog post also revealed a striking statistic: the company says it now has 800 customers.

Glia Customers Can Use Boost.ai's Boost.ai, a global leader in artificial intelligence for Fortune 1000 companies, has announced a partnership with Glia, a leading provider of Digital Customer Service, to integrate Boost.ai's The integration means Glia customers can build AI-powered self-learning virtual agents using Boost.ai's "Self-learning AI from Boost.ai makes it possible for Glia's customers to create specially developed and finely tuned virtual agents that are even more valuable when coordinated by the Glia platform throughout the course of a customer engagement," said Henry Iversen, co-founder and CCO at Boost.ai. "This might involve filling out a loan application or opening a new bank account, where seamless transition between channels including social, SMS, webchat, and voice is assistive to both customers and agents alike."

Goldenbridge Acquisition, a blank check company targeting the artificial intelligence industry, filed on Tuesday with the SEC to raise up to $50 million in an initial public offering. The Hong Kong-based company plans to raise $50 million by offering 5 million units at $10. Each unit consists of one share of common stock; one warrant for one-half of a share, exercisable at $11.50; and one right to receive one-tenth of a share upon completion of the initial business combination. At the proposed deal size, Goldenbridge Acquisition would command a market value of $65 million. The company is led by CEO and Chairman Yongsheng Liu, former CEO of Royal China Holdings, and COO Ray Chen, former CEO of Fortissimo Film International.

Whether or not you "know" IBM, you know IBM: the global technology conglomerate has been the face of electronic innovation for over 100 years. Often called "Big Blue," this company now officially makes the grade for the S&P 500 Aristocrats, as it has just raised its dividend for the 25th consecutive year (though whether or not it will join the index is yet to be seen). These increased dividends come on the back of a rather harsh year. In fact, IBM is one of a handful of major tech names that have not excelled exponentially in the face of work-from-home practices. Once IBM crashed in March, it never fully recovered to pre-pandemic highs – it hasn't moved substantially since June.