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| Today's top AI headlines include: - Nvidia Q4 revenue up 265% year-over-year.
- Google releases Gemma open AI models.
- Intel will make custom chips for Microsoft.
Beth
p/beth-duckett | |
| 1 | | Nvidia's shares jumped in after-hours trading after the chipmaker reported Q4 revenue of $22.1B, up 22% from the last quarter and a 265% rise from the previous year. The company's Q4 earnings surpassed Wall Street's expectations for earnings and sales. Nvidia also forecasts higher-than-expected revenue for the current quarter. 
What the numbers show: Nvidia's data center business, which includes its in-demand AI chips, hit a record $18.4B in quarterly revenue, up 27% from the prior quarter and a 409% jump from last year's $3.6B. Looking ahead, Nvidia expects around $24B in revenue for the current quarter, outpacing analyst predictions of $22.2B. Notably, Nvidia has added over $1.2T to its market cap in the last year. Quotable: Generative AI and accelerated computing have reached a "tipping point," with demand skyrocketing across companies, industries, and countries, CEO Jensen Huang said. However, Insider Intelligence analyst Jacob Bourne points out that after another huge quarter for Nvidia, it raises the question of how long the chipmaker can keep up this pace. Nvidia "has a massive lead in the growing global AI chip sector but can't rest on its laurels," Bourne said. |     | |
| 2 | | Google released a pair of lightweight open AI models for developers and researchers to experiment with and build apps. The "Gemma" text-generating models are now open for commercial use and redistribution, marking Google's shift toward openness in the AI space. More: - With Gemma, Google is targeting developers building smaller AI apps who want faster performance and lower costs.
- Google claims the models, despite their small size, outshine larger models in key benchmarks and run on developers' computers.
- The models, Gemma 2B and Gemma 7B, are available in two sizes; the smaller for cost-efficient app building and the larger for developing AI software with high-capacity AI chips and data centers.
- They come with a "Responsible Generative AI Toolkit" for creating safety filters and a debugging tool to explore and resolve issues.
- Gemma is based on the same technology as Google's larger but closed Gemini AI models.
Google's AI for businesses: - Also today, Google announced Gemini Business, a new and cheaper AI tier for its Workspace suite.
- Priced at $20 per user, it offers AI tools like email drafting and data analysis across Gmail, Docs, Sheets, and more.
- It's $10 cheaper than Google's Gemini Enterprise, which offers the same features plus extras like translating closed captions and, soon, taking meeting notes.
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| 3 | | Microsoft is the first big name to sign up for Intel Foundry, Intel's business for making custom chips for customers. Intel is focusing heavily on its foundry business to take on leader TSMC, fueled by the booming demand from generative AI's growth. More: - Intel will now produce a custom chip for Microsoft, designed in-house, using its 18A (1.8nm-class) technology.
- While the specific chip wasn't disclosed, Microsoft has recently shared plans to make a computer processor and an AI accelerator called Maia.
- Intel 18A is expected to be ready for production by H2 2024.
Zoom out: - Alongside the announcement, Microsoft CEO Satya Nadella said a "platform shift" will transform productivity across companies.
- To realize this vision, Microsoft needs a steady supply of "most advanced, high-performance and high-quality semiconductors," he said.
Intel Foundry: - Intel today revealed its chip-making division's new name, Intel Foundry, branding it as the "world's first systems foundry for the AI era."
- Under CEO Pat Gelsinger, Intel has been shifting toward making chips for other companies, though it still has to prove it will treat these outsourced chips like its own.
- "Through our foundry, I want to manufacture every AI chip in the industry," Gelsinger said.
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| 4 | | U.S. Commerce Secretary Gina Raimondo said there's an urgent need for more investment in chip manufacturing to put the U.S. back on top and keep up with AI's huge chip demand. Continued investment, whether it's called Chips Two or something else, is needed for the U.S. to maintain global leadership, Raimondo suggested during a virtual Intel Corp. event today. More: - "We fell pretty far," she said. "We took our eye off the ball."
- Raimondo said she had also spoken with OpenAI CEO Sam Altman about the skyrocketing need for AI chips.
- "When I talk to him or other customers in the industry, the volume of chips that they project they need is mind-boggling," she said.
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| 5 | | Doctors' views on using AI in healthcare vary widely, with an Athenahealth survey revealing that 21% are pessimistic, 39% are optimistic, and another 41% are undecided about AI's future role in the field. Athenahealth, a provider of cloud-based healthcare solutions, commissioned the Harris Poll to survey 1,003 primary care and specialist physicians in the U.S. late last year. 
What the numbers show: According to the survey, over 90% of doctors feel burned out often. Many of the doctors reported not having enough face-to-face time with patients, feeling swamped by constant communication outside appointments, and facing challenges due to staff shortages. However, 83% said they believe AI could help address some of the issues. Nearly 40% thought it could lower administrative burdens and streamline tasks. On the opposite end, 60% chose loss of human touch as their biggest concern about AI. 
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| 6 | | 🍋 FRESH FUNDING 🍋 - Moonshot AI, the Chinese generative AI firm behind chatbot Kimi Chat, raised $1B in fresh funding at a valuation of $2.5B. Alibaba and HongShan led the round.
- AI chip startup Recogni secured $102M in Series C funding led by Celesta Capital and GreatPoint Ventures. Other participants in the round include HSBC Holdings Plc and Tasaru Mobility Investments.
- Bioptimus, a French startup building a universal AI foundational model for biology, emerged from stealth with a $35M seed funding round led by Sofinnova Partners. Bpifrance Large Ventures, Frst, Cathay Innovation, Headline, Hummingbird, NJF Capital, Owkin, and Top Harvest Capital joined the funding round.
- StepStone Group and PayPal Ventures co-led a $30M Series C funding round into the generative AI platform Rasa. Other participants in the round include Andreessen Horowitz, Accel, and Basis Set Ventures.
- Non-invasive, AI-powered arrhythmia analysis platform Vektor Medical bagged $16M in Series A funding co-led by Solas BioVentures and TVM Capital Life Science.
For the latest on AI startup funding and more in the VC community, subscribe to our Inside Venture Capital newsletter. | | | |
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 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for publications including USA Today, the Arizona Business Gazette, and The Arizona Republic, where she received recognition with a Pulitzer Prize nomination and a First Amendment Award for collaborative reporting on state pension cost increases. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Aaron Crutchfield | |
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