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.
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.
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.
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.
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.
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.
Binance CEO Withholds Headquarters Location Amid Legal Challenges
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.
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.
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