On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, we look at how one mining pool is taking action against Ordinals "spam". AMD is making an entrance into the AI chip market, currently dominated by Nvidia, while Google has launched a powerful rival to OpenAI's ChatGPT and Elon Musk seeks to fund his own competitor, xAI. Meanwhile, in Cryptoland, Binance's new CEO is keeping the location of the exchange's global headquarters very quiet.

Is Knots The Ordinals Killer?

Ocean, the Jack Dorsey-backed mining pool, is censoring Ordinals transactions using Luke Dash Jr's Bitcoin node software. The Ocean team characterizes such transactions as spam.

Is Knots The Ordinals Killer?
New Bitcoin software addresses the issue that critics call an ongoing “spam” attack on the blockchain.

AMD Challenges Nvidia In AI Chip Market With MI300X

AMD introduces MI300X, an AI chip poised to compete with Nvidia's H100. Targeting a rapidly expanding AI market, AMD collaborates with industry leaders and anticipates significant sales growth, amidst a forecast $400 billion market by 2027 and heightened competition in AI technologies.

AMD Challenges Nvidia In AI Chip Market With MI300X
AMD launches the new MI300X AI chip, challenging Nvidia’s market dominance and aiming for a significant share of the $400 billion AI market by 2027.

Chinese Exports Show Slight Rise, Ending Six-Month Decline

In a positive turn, China reports a slight increase in exports for November, ending a six-month decline. This comes as Beijing addresses domestic economic pressures and works to strengthen international trade relations, particularly with the EU and US.

Chinese Exports Show Slight Rise, Ending Six-Month Decline
China’s exports see a marginal rise in November, ending a six-month downward trend amidst global economic challenges.

AI 101: Narrow AI

Narrow AI excels in specific functions, from language translation to medical diagnostics, using advanced machine learning and deep learning algorithms. It faces challenges including data bias and job displacement, necessitating ethical considerations in its application.

AI 101: Narrow AI
Narrow AI, specialized in specific tasks, is a cornerstone of today’s AI applications, from healthcare diagnostics to customer service chatbots.

Google's AI "Gemini" Revolutionizes Mobile Capabilities

Google's new AI model "Gemini" brings generative AI to mobile devices, offering advanced processing of images and audio. It powers Bard chatbot and will soon integrate into Google's search engine, demonstrating a significant shift in AI capabilities and mobile technology.

Google’s AI “Gemini” Revolutionizes Mobile Capabilities
Google launches “Gemini”, a groundbreaking AI capable of running on mobile phones, setting a new standard in AI technology.

Richard Teng, Binance's new CEO, maintains secrecy about the exchange's global headquarters following the company's legal settlements in the US. The firm faced charges of money laundering and sanctions violations, leading to significant penalties and a change in leadership.

Binance CEO Withholds Headquarters Location Amid Legal Challenges
Binance’s new CEO Richard Teng withholds the location of the company’s headquarters amid ongoing legal challenges.

Elon Musk Eyes $1 Billion For xAI In Generative AI Race

Elon Musk's AI startup, xAI, aims to raise $1 billion, signaling a significant move in the generative AI industry. Having already raised $135 million, xAI competes with giants like OpenAI, with Musk envisioning AI's expansive future and advocating cautious development.

Elon Musk Eyes $1 Billion For xAI In Generative AI Race
Elon Musk’s xAI targets $1bn raise to advance in the generative AI sector, challenging industry leaders like OpenAI.

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