Latest news with #Nvidia
Yahoo
an hour ago
- Business
- Yahoo
S&P 500, Nasdaq hit record closing highs amid trade deal hopes
STORY: Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs - with each adding half a percent - while the Dow climbed one percent. The rally confirmed a bull market for the Nasdaq since its post-"Liberation Day" trough on April 8. Stocks were boosted by trade deal hopes while economic data helped solidify expectations for rate cuts later this year from the Federal Reserve. Mike Mussio, president of FBB Capital Partners, said second-quarter earnings results will be key to justifying the high stock valuations of S&P 500 companies. "It's nice that we've come back to 6100, but what hasn't really changed there is the earnings picture hasn't changed all that much. So 6100 this time around from six months ago or five months ago, you know, is not that much cheaper. If the earnings story improves, then you could have a cheaper 6100 on the S&P and that gets, that could be compelling." A report from the Commerce Department on Friday showed consumer income and spending unexpectedly contracted in May. And while the impact of tariffs on consumer prices has not yet been fully realized, inflation continues to hover above the Fed's 2% annual inflation target. Stocks on the move Friday included Nvidia, which rose close to 2%, edging near a $4 trillion market capitalization after reclaiming its position as the world's most valuable company. And shares of Nike jumped more than 15% after forecasting a smaller-than-expected drop in first-quarter revenue. Shares of rivals Lululemon Athletica and Hoka-owner Deckers Outdoor also rose. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
2 hours ago
- Business
- CNA
OpenAI turns to Google's AI chips to power its products, source says
OpenAI has recently begun renting Google's artificial intelligence chips to power ChatGPT and its other products, a source close to the matter told Reuters on Friday. The ChatGPT maker is one of the largest purchasers of Nvidia's graphics processing units (GPUs), using the AI chips to train models and also for inference computing, a process in which an AI model uses its trained knowledge to make predictions or decisions based on new information. OpenAI planned to add Google Cloud service to meet its growing needs for computing capacity, Reuters had exclusively reported earlier this month, marking a surprising collaboration between two prominent competitors in the AI sector. For Google, the deal comes as it is expanding external availability of its in-house tensor processing units (TPUs), which were historically reserved for internal use. That helped Google win customers including Big Tech player Apple as well as startups like Anthropic and Safe Superintelligence, two ChatGPT-maker competitors launched by former OpenAI leaders. The move to rent Google's TPUs signals the first time OpenAI has used non-Nvidia chips meaningfully and shows the Sam Altman-led company's shift away from relying on backer Microsoft's data centers. It could potentially boost TPUs as a cheaper alternative to Nvidia's GPUs, according to the Information, which reported the development earlier. OpenAI hopes the TPUs, which it rents through Google Cloud, will help lower the cost of inference, according to the report. However, Google, an OpenAI competitor in the AI race, is not renting its most powerful TPUs to its rival, The Information said, citing a Google Cloud employee. Google declined to comment while OpenAI did not immediately respond to Reuters when contacted. Google's addition of OpenAI to its customer list shows how the tech giant has capitalized on its in-house AI technology from hardware to software to accelerate the growth of its cloud business.
Yahoo
2 hours ago
- Business
- Yahoo
OpenAI turns to Google's AI chips to power its products, source says
(Reuters) -OpenAI has recently begun renting Google's artificial intelligence chips to power ChatGPT and its other products, a source close to the matter told Reuters on Friday. The ChatGPT maker is one of the largest purchasers of Nvidia's graphics processing units (GPUs), using the AI chips to train models and also for inference computing, a process in which an AI model uses its trained knowledge to make predictions or decisions based on new information. OpenAI planned to add Google Cloud service to meet its growing needs for computing capacity, Reuters had exclusively reported earlier this month, marking a surprising collaboration between two prominent competitors in the AI sector. For Google, the deal comes as it is expanding external availability of its in-house tensor processing units (TPUs), which were historically reserved for internal use. That helped Google win customers including Big Tech player Apple as well as startups like Anthropic and Safe Superintelligence, two ChatGPT-maker competitors launched by former OpenAI leaders. The move to rent Google's TPUs signals the first time OpenAI has used non-Nvidia chips meaningfully and shows the Sam Altman-led company's shift away from relying on backer Microsoft's data centers. It could potentially boost TPUs as a cheaper alternative to Nvidia's GPUs, according to the Information, which reported the development earlier. OpenAI hopes the TPUs, which it rents through Google Cloud, will help lower the cost of inference, according to the report. However, Google, an OpenAI competitor in the AI race, is not renting its most powerful TPUs to its rival, The Information said, citing a Google Cloud employee. Google declined to comment while OpenAI did not immediately respond to Reuters when contacted. Google's addition of OpenAI to its customer list shows how the tech giant has capitalized on its in-house AI technology from hardware to software to accelerate the growth of its cloud business.
CNA
2 hours ago
- Business
- CNA
OpenAI turns to Google's AI chips to power its products, The Information reports
OpenAI has recently begun renting Google's artificial intelligence chips to power ChatGPT and other products, The Information reported on Friday, citing a person involved in the arrangement. The move, which marks the first time OpenAI has used non-Nvidia chips in a meaningful way, shows the Sam Altman-led company's shift away from relying on backer Microsoft's data centers, potentially boosting Google's tensor processing units (TPUs) as a cheaper alternative to Nvidia's graphics processing units (GPUs), the report said. As one of the largest purchasers of Nvidia's GPUs, OpenAI uses AI chips to train models and also for inference computing, a process in which an AI model uses its trained knowledge to make predictions or decisions based on new information. OpenAI hopes the TPUs, which it rents through Google Cloud, will help lower the cost of inference, according to the report. However, Google, an OpenAI competitor in the AI race, is not renting its most powerful TPUs to its rival, The Information said, citing a Google Cloud employee. Both OpenAI and Google did not immediately respond to Reuters requests for comment. OpenAI planned to add Google Cloud service to meet its growing needs for computing capacity, Reuters had exclusively reported earlier this month, marking a surprising collaboration between two prominent competitors in the AI sector. For Google, the deal comes as it is expanding external availability of its in-house TPUs, which were historically reserved for internal use. That helped Google win customers including Big Tech player Apple as well as startups like Anthropic and Safe Superintelligence, two OpenAI competitors launched by former OpenAI leaders.
Yahoo
3 hours ago
- Business
- Yahoo
OpenAI turns to Google's AI chips to power its products, The Information reports
(Reuters) -OpenAI has recently begun renting Google's artificial intelligence chips to power ChatGPT and other products, The Information reported on Friday, citing a person involved in the arrangement. The move, which marks the first time OpenAI has used non-Nvidia chips in a meaningful way, shows the Sam Altman-led company's shift away from relying on backer Microsoft's data centers, potentially boosting Google's tensor processing units (TPUs) as a cheaper alternative to Nvidia's graphics processing units (GPUs), the report said. As one of the largest purchasers of Nvidia's GPUs, OpenAI uses AI chips to train models and also for inference computing, a process in which an AI model uses its trained knowledge to make predictions or decisions based on new information. OpenAI hopes the TPUs, which it rents through Google Cloud, will help lower the cost of inference, according to the report. However, Google, an OpenAI competitor in the AI race, is not renting its most powerful TPUs to its rival, The Information said, citing a Google Cloud employee. Both OpenAI and Google did not immediately respond to Reuters requests for comment. OpenAI planned to add Google Cloud service to meet its growing needs for computing capacity, Reuters had exclusively reported earlier this month, marking a surprising collaboration between two prominent competitors in the AI sector. For Google, the deal comes as it is expanding external availability of its in-house TPUs, which were historically reserved for internal use. That helped Google win customers including Big Tech player Apple as well as startups like Anthropic and Safe Superintelligence, two OpenAI competitors launched by former OpenAI leaders. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
