NEW YORK, NY / ACCESSWIRE / January 27, 2017 / The Technology sector was the largest gainer in the S&P 500 Index in 2016 and that rally has continued into 2017. The tech-focused Nasdaq Composite Index has risen approximately 5.05 percent year-to-date, compared to a gain of 1.71 percent for the Dow Jones Industrial Average. The S&P 500 Index has gained 2.58 percent in 2017, with the S&P 500 Information Technology Sector up 5.5 percent. "The tech rally is firmly in place," said Tim Bajarin, principal analyst with Campbell-based Creative Strategies, a market researcher that tracks the technology sector. "Wall Street is coming to grips about how technology impacts every aspect of our lives and is critical to the success of business."
Nvidia CEO Jen-Hsun Huang introducing the Nvidia Spot, a USD 49.95 microphone and speaker that will let owners use Google Assistant anywhere in a home, at the company's CES 2017 keynote (Photo by Ethan Miller/Getty Images) Nvidia continued to see demand for its graphics processors in the emerging world of artificial intelligence in its fourth quarter earnings reported Thursday. In its fourth quarter earnings release, the Santa Clara, Calif.-based company reported revenue of $2.17 billion, up 55% year over year, on earnings per share of $1.13, up 117% a year ago. Wall Street analysts estimated $2.11 billion in revenue on EPS of 83 cents. Traditionally, the company's processors have been mostly used to power the latest gaming graphics, but the chips have become popular to run AI software in the data center and autonomous vehicles. A specific branch of AI, called deep learning, is where Nvidia's processors particularly shine.
Some of the most entrepreneurial minds in the world are joining forces to help a small tech startup create a digital brain. Facebook founder Mark Zuckerberg and Tesla owner Elon Musk join the likes of PayPal billionaire Peter Thiel, actor Ashton Kutcher and Facebook's co-founder Dustin Moskovitz by investing in San Francisco-based Vicarious. The startup wants to create software that'thinks and learns like a human', and to do that, the firm is attempting to build a program that mimics the brain's neocortex. According to reports in the Wall Street Journal, Zuckerberg, Musk and Kutcher have invested a total of $40million (£24million) in the company. Thiel reportedly invested $1.2 million (£727,000) in 2010, while Moskovitz was said to have added $15million (£9million) to the fund.
NEWSBYTE Etsy, the ecommerce website that focuses on handmade or vintage items, is opening its third machine learning centre, and its first in Canada. It is expected to open this autumn. The US-based company already has machine learning centres in Brooklyn, New York, and in San Francisco. The aim of the centres is to deepen users and customers' relationship with the retail platform, learning their preferences and the types of item that are offered for sale, creating a smarter and more intuitive system over time. "Etsy is dedicated to creating opportunities for creative entrepreneurs across Canada, and the addition of the Machine Learning Center of Excellence will deepen Etsy's roots in Toronto's robust tech community," said Mike Fisher, Etsy CTO.
Netflix Inc. has long framed itself as the good guy in the fight against Internet service providers -- Chief Executive Reed Hastings has described his company as "big believers in the free and open Internet." But the Los Gatos, Calif., company's stance on equal access apparently has its limits, namely among its own customers. For more than five years, Netflix has secretly slowed load times and reduced video resolution -- a process called throttling -- to AT&T Inc. and Verizon mobile customers to keep them from exceeding the caps on their data plans, the Wall Street Journal reported late Thursday. Although that policy seemingly contradicts Netflix's public stance in its past battles with Internet service providers, its position in both cases makes financial sense. Netflix and its allies last year won the fight over net neutrality, arguing that without federal protections Internet service providers could throttle traffic to individuals and companies that didn't pay for access to Internet fast lanes.