15 AI News Investors Should Not Miss

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3. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

Google’s current lineup of AI products includes consumer-oriented AI products such as Google One AI Premium and Gemini for enhanced productivity, along with Gemini versions tailored for personal and enterprise use. For developers, tools like Gemini models, Google AI Studio, and Vertex AI help facilitate the integration and management of AI capabilities.

On Monday, October 15, Google stated that it had signed a corporate agreement in what is claimed to be the world’s first for buying power from multiple small modular reactors. This agreement is done to meet the electricity demand for artificial intelligence. The company has agreed to buy around an estimated 500 megawatts of power from six or seven reactors. Alphabet Inc has agreed with Kairos Power, aiming to bring Kairos’ first small modular reactor online by 2030.

As per Alphabet, a so-called order book framework with Kairos instead of the purchase of individual reactors purchases will help send a demand signal to the market and make a long-term investment to speed the development of SMRs. Mike Laufer, the CEO of Kairos, is confident that this innovative strategy will enhance the likelihood of successful project completion within budget and on schedule.

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