The past week was a whirlwind of news in the tech world, with AI taking center stage. From $Apple (AAPL.US)$ outpacing OpenAI with its new AI model to $Amazon (AMZN.US)$ facing scrutiny over its 'Just Walk Out' technology, the tech giants were making headlines. Here's a recap of the top stories.
Apple's AI Outperforms OpenAI's GPT-4
Apple has quietly unveiled a new artificial intelligence model, ReALM, that surpasses $Microsoft (MSFT.US)$ OpenAI's GPT-4 in parsing contextual data. This development is a significant leap forward for Apple's AI initiatives, which the iPhone maker will detail in June at the annual Worldwide Developers Conference (WWDC.) Read the full article here.
Cathie Wood's Bullish Stance on $Tesla (TSLA.US)$
Ark Invest's Cathie Wood continues to buy $Tesla (TSLA.US)$ shares, expecting the tech stock to reach $2,000 per share in the coming years. She thinks Tesla is the "biggest AI project" in the world and sees the convergence of three key technologies as the driving force behind her prediction. Read the full article here.
OpenAI Poaching Tesla Engineers
Elon Musk has revealed that OpenAI is aggressively poaching Tesla engineers with massive compensation offers. This revelation came after a report about Tesla machine learning scientist Ethan Knight becoming the third engineer to leave Tesla for xAI. Read the full article here.
Dan Ives Predicts Tech Stock Rally
Wedbush's Dan Ives believes that the AI revolution and improving ad spending will be the catalyst for a 15% rally in tech stocks in 2024. He sees $Alphabet-C (GOOG.US)$ potentially having a $30-$40 upside. Read the full article here.
Amazon's 'Just Walk Out' Technology Under Fire
Amazon's 'Just Walk Out' grocery checkouts, touted as AI-powered technology, were reportedly powered by 1,000 contractors in India acting as virtual cashiers. This revelation has raised questions about the company's AI capabilities. Read the full article here.