Financial News
12 AI startups that will boom in 2019, according to VCs
What it does: The point of artificial intelligence is that the computer is continuously learning and changing on its own.SambaNova is building new chips, hardware and a platform for AI, machine learning and big data analytics that can change and adapt to support this type of computing. Why it's hot in 2019: The tech is based on the research of its two former Stanford professor cofounders. The third cofounder is a chip pioneer. One of the co-founders, Chris Re, previously founded Lattice, a GV-backed company acquired by Apple. Tremendous interest from customers," says Munichiello.
Google and Microsoft Warn That AI May Do Dumb Things
Google CEO Sundar Pichai brought good tidings to investors on parent company Alphabet's earnings call last week. Alphabet reported $39.3 billion in revenue last quarter, up 22 percent from a year earlier. Pichai gave some of the credit to Google's machine learning technology, saying it had figured out how to match ads more closely to what consumers wanted. One thing Pichai didn't mention: Alphabet is now cautioning investors that the same AI technology could create ethical and legal troubles for the company's business. The warning appeared for the first time in the "Risk Factors" segment of Alphabet's latest annual report, filed with the Securities and Exchange Commission the following day: "New products and services, including those that incorporate or utilize artificial intelligence and machine learning, can raise new or exacerbate existing ethical, technological, legal, and other challenges, which may negatively affect our brands and demand for our products and services and adversely affect our revenues and operating results."
Google and Microsoft Warn That AI May Do Dumb Things
Google CEO Sundar Pichai brought good tidings to investors on parent company Alphabet's earnings call last week. Alphabet reported $39.3 billion in revenue last quarter, up 22 percent from a year earlier. Pichai gave some of the credit to Google's machine learning technology, saying it had figured out how to match ads more closely to what consumers wanted. One thing Pichai didn't mention: Alphabet is now cautioning investors that the same AI technology could create ethical and legal troubles for the company's business. The warning appeared for the first time in the "Risk Factors" segment of Alphabet's latest annual report, filed with the Securities and Exchange Commission the following day: "[N]ew products and services, including those that incorporate or utilize artificial intelligence and machine learning, can raise new or exacerbate existing ethical, technological, legal, and other challenges, which may negatively affect our brands and demand for our products and services and adversely affect our revenues and operating results."
Health Catalyst raises $100 million for health care analytics
The artificial intelligence (AI) in health care market is set to top $34 billion by 2025, according to some estimates -- and it's no real wonder why. One startup that's successfully maintained pole position is Health Catalyst, a Salt Lake City, Utah-based health care big data company founded in 2009 by Steven Barlow and Thomas Burton. It aims to drive clinical and operational performance improvements in state and regional health plan providers, physician groups, and extended care facilities through its suite of analytics apps. And it's raising capital to help further progress toward that goal. Health Catalyst today announced that it has secured $100 million in series F equity and debt financing led by health care investment firm OrbiMed, with participation from existing partners Sequoia Capital, Norwest Venture Partners, Sands Capital Ventures, UPMC Enterprises, and Kaiser Permanente Ventures.
Alphabet shares sink despite making $8.9bn profit in last quarter
Alphabet, the parent company of the internet search giant Google, earned $39.27bn in the last three months of 2018, but its share price sank as its costs rose. Alphabet's revenues for the quarter were 22% higher than the same period last year and the company made a profit of $8.9bn, the company announced on Monday. Revenues in the US rose 20% while revenues from Europe, the Middle East and Africa rose 29%, helped by the strength of the euro and the pound. It was the latest tech company to announce strong revenue growth – news that has cheered investors – but rising costs that come as the company is facing increasing competition from Amazon clouded the news. The fees that Alphabet pays to companies like Apple for Google to be their default search engine rose to $7.4bn up from $6.6bn for the same period last year.
iPhone price to be reduced in many countries as Apple tries to encourage demand
Apple will cut the price of some of its flagship iPhones for just the second ever time, as interest in buying them falls. The company is going to reduce the phones to the cheaper prices it used to charge in countries outside the US, instead of taking into acount the rising US dollar, it said. Apple has recently experimented with charging considerably higher prices for iPhones, especially in some countries around the world. With the iPhone X, it increased the cost of the flagship model considerably, and recent currency fluctuations meant that this year's phones were even more expensive. But now it will look to drop those prices so they are in line with last year's prices.
Apple profits and revenues fall as demand for iPhones slows
Apple has reported a decline in both revenue and profits in its latest quarterly financial results, as the company feels the pinch from slowing demand for its star product, the iPhone. The results showed a 15 per cent fall in sales of the iPhone in the three months ending to 29 December, diving from $61.1bn (£46.8bn) in 2017, down to £51.9bn dollars (£39.8bn) a year later. Mac, iPad and the Wearables, Home and Accessories category all experienced an increase in net sales, but the most notable growth came from Apple's services - which includes its Apple Music streaming platform, the App Store, iCloud storage and Apple Pay - jumping 19 per cent, from $9.1bn (£7bn) to $10.9bn (£8.3bn) year-on-year. However, combined, the hole left by weak iPhone sales resulted in a total drop to $84.3bn (£64.5bn), Profits also fell slightly to $19.9bn (£15.3bn),
Chinese gaming giant grabs stake in 'Detroit' studio Quantic Dream
China's NetEase may be struggling to get its games whitelisted in its native country, but that isn't stopping it from making waves in the wider gaming industry. The internet giant's gaming unit has acquired a minority stake in David Cage's studio Quantic Dream, best known for its cinematic PlayStation exclusives Heavy Rain and Detroit: Become Human, both of which incorporate interactive storytelling techniques and motion capture technology. According to NetEase, Quantic Dream will continue to operate independently under the leadership of its co-CEOs Cage and Guillaume de Fondaumière. But the real benefit for the French studio will be an entry point into China, the world's biggest gaming market, where NetEase rules alongside rival Tencent. Despite the country's gaming freeze being lifted, the government's crackdown on titles that don't adhere to strict cultural guidelines (and contain sexual or violent content) could be a concern for Quantic and its adult-oriented games.
Foxconn-backed Carbon Relay raises $5 million to tackle datacenter cooling with AI
It's accepted science that carbon dioxide emissions contribute to climate change. CO2 molecules trap heat in the atmosphere, and they stick around for decades -- 40 percent will remain for 100 years, and 20 percent for 1,000 years. If wood, coal, natural gas, oil, and gasoline consumption remain on their current trajectory, the global temperature will rise between 2.5 to 10 degrees Fahrenheit over the next century, according to the Intergovernmental Panel on Climate Change (IPCC). So what can be done? If you ask Apple alum and serial entrepreneur Matt Provo, plenty.