OpenAI launched ChatGPT in late November 2022. Although it had zero fanfare when it was launched, the platform has grown exponentially ever since. As of today, it boasts more than 200 million users worldwide, driven by the generative AI craze that has made it a hit.
It can be safe to say that the chatbot had unofficially ushered in the AI era and a race for businesses to capitalize on it. Initially, companies started slowly by integrating artificial intelligence into their offerings to pinpoint what works and what doesn’t.
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As of today, they are taking giant leaps into the AI realm, confident of the fruits they will reap once everything is in place.
“2023 was really a year of industry and businesses wrapping their heads around AI. 2024 is the year we’re starting to see real-scale deployments of our technology”.
– James Dyett, head of platform sales of OpenAI.
Countless innovations in AI prove how the technology continues to be a strong force today. In the latest news, Enfabrica, a California-based startup that aims to make AI chips work more efficiently together at scale, recently announced that it has raised $115 million in funding and plans to release its newest chip early next year.
The startup is tackling one of the biggest technical problems that has emerged in the AI field. The problem is related to tying tens of thousands (or more) of chips together with a network. The chip company strives to allow computing chips to simultaneously talk to more parts of a network.
According to co-founder and CEO Rochan Sankar, current systems can link about 100,000 AI chips before the network slows down. Sankar says chips from Enfabrica could increase this figure to about 500,000 chips, making it possible to train even larger AI models.
“It’s become apparent in the last six to nine months that the attributes of that network really drive the capability of that (computing power), whether it’s bandwidth, resiliency or recovery from loss. All these things matter when you start running at scale.”
In other news, OpenAI has recently launched a free training course for teachers with non-profit partner Common Sense Media. The training will enable teachers to understand artificial intelligence and use it efficiently. The move comes amid OpenAI promoting a positive image of ChatGPT in education. Previously, ChatGPT had been causing a frenzy as it helped students spin-off papers, complete their homework, and even write novels.
“My goal in this role is to put AI into the hands of every student and every teacher… and also give them the skills to learn how to do it responsibly and effectively”.
– Former Coursera executive Leah Belsky.
Belsky revealed that student adoption of ChatGPT is “very, very high,” and parents are generally supportive, realizing that AI skills as essential for future careers.
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10. Penguin Solutions, Inc. (NASDAQ:PENG)
Penguin Solutions, Inc. (NASDAQ:PENG) is a leading company that specializes in enterprise AI solutions.
On Monday, November 18, JMP Securities analyst Trevor J. Walsh initiated a new “Buy” rating on Penguin Solutions, Inc. (NASDAQ:PENG). Walsh’s Buy rating reflects confidence in Penguin Solutions being a promising investment opportunity. No longer just a cyclical memory-focused holding company, Penguin has been undergoing strategic transformation to become a firm that focuses on enterprise AI solutions. The ongoing wave of AI investment offers Penguin the chance to deliver strong results and resolve the bottlenecks in memory shortage and compute that it has been facing. Overall, the company is well-positioned for growth largely owing to its backing from SK Telecom, attractive valuation, and skilled management team despite risks such as market ups and downs and AI industry competition.
9. Informatica Inc. (NYSE:INFA)
Number of Hedge Fund Holders: 22
Informatica Inc. (NYSE:INFA) is a leader in enterprise AI-powered cloud data management.
On November 20, Informatica Inc. (NYSE:INFA) announced the release of three advanced capabilities for Microsoft Azure. The capabilities aim to accelerate the deployment and activation of AI and Analytics-driven innovation. One of these capabilities is the GenAI Blueprint for Azure OpenAI Service, accelerating the development and deployment of enterprise-grade GenAI and copilot experiences. The company has also revealed support for Open Table Iceberg on Azure Data Lake Storage Gen2 for improving data migration and integration. The third advancement is the enhanced SQL ELT for Microsoft Azure which leads to increased performance and scalability.
“These new blueprints and data management innovations are built specifically for Microsoft services to ensure Microsoft customers adopting Microsoft Azure OpenAI Service, Microsoft Fabric and open table format support in Azure benefit from the full range of IDMC data management capabilities to accelerate and scale their AI and analytics initiatives.”
-Pratik Parekh, Senior Vice President and General Manager at Informatica.