Tag: AI

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Global stock market rout intensifies as Dow futures dip over 1200 points

Stock rout

U.S. stock futures slumped Monday 5th August 2024 as global markets sell-off centered around potential U.S. recession fears.

About one hour before U.S. stocks open – here’s the situation

Dow Jones Industrial Average futures dropped 1250 points following a 611point loss on Friday 2nd August 2024.

S&P 500 futures are down 4.6% after the benchmark lost 1.8% on Friday 2nd August 2024.

Nasdaq-100 futures lost 6% as big tech stocks take a hit in early trading.

Japan’s Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash.

If the Dow Jones decline continues it would be the first 1000 point decline since September 2022.

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Short-sighted policy U-turn as the UK Labour government cancels £1.3 billion of computing projects

AI supercomputer mainframe

A real set-back for UK AI global ambition

The new Labour government has withdrawn £1.3bn in funding previously pledged by the Conservatives for technology and Artificial Intelligence (AI) initiatives.

This includes £800m allocated for the development of an exascale supercomputer at Edinburgh University and an additional £500m for the AI Research Resource, which provides computing power for AI. These funds were announced less than a year ago.

The Department for Science, Innovation and Technology (DSIT) stated that although the funds were promised by the former administration, they were not included in its budget. The decision has faced criticism from some within the industry.

Another blow for the UK’s homegrown tech sector.

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Amazon, Intel, Meta, Nintendo, Apple, Snap, Qualcomm and others report – here’s a brief round-up

Reports summary 31st July 2024 -1st August 2024

Amazon offers weak guidance citing Olympics and the Trump assassination attempt as cause (consumers are distracted). However, Amazon’s cloud unit reports 19% revenue growth, topping estimates and a 20% increase in business in Q2. Amazon stocks pull back after guidance update.

Intel endures a 22% share plunge dragging down other global microchip stocks from TSMC, ASML to Samsung. Company to cut 15% of workforce, reports quarterly guidance miss.

Meta shares climb 6% on positive earnings data and good revenue forecast. Zuckerberg enthused over AI and how it’s helping create profits suggesting ‘Meta’s advertising growth is proof that BIG AI spending is already paying off.’ However, Meta’s Reality Labs posts $4.5 billion loss in second quarter.

Nintendo profit falls 55% as sales of its ageing Switch console plunge. Nintendo revenue and profit plunged in Q1 as sales of its ageing Switch console decline. Nintendo sold 2.1 million units of its Switch consoles, down 46% on the year. Investors are seeking news surrounding a successor to the Nintendo Switch console.

Apple sales climbed 5%, topping estimates as iPad and services revenue lift despite ongoing issues with iPhone sales slipping in China. Apple is spending more on AI but remains way behind its peers.

Snap shares plunge more than 20% on weak guidance.

Qualcomm beats estimates as phone microchip sales up 12%.

Samsung Q2 revenue and profit comes in above estimates amid strong AI demand.

AMD jumps 5% as global microchip stocks rally. Data centre sales doubled.

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Microsoft says OpenAI is now a competitor search and AI

AI competition

Microsoft’s list of competitors, which is updated regularly, now features OpenAI, previously a long-term strategic ally.

This development follows OpenAI’s announcement of a search engine prototype.

As OpenAI’s exclusive cloud provider, Microsoft leverages OpenAI’s AI models for products aimed at commercial clients and consumers. Microsoft, OpenAI’s largest investor, has reportedly invested some $13 billion in the firm.

Microsoft’s filing lists OpenAI, the entity behind the ChatGPT chatbot, as a competitor in AI solutions, as well as in the realms of search and news advertising. OpenAI recently unveiled a search engine prototype named SearchGPT.

However, recent developments suggest a shift, with both companies encroaching on each other’s domains.

While some opt to directly pay OpenAI for model access, others utilise Microsoft’s Azure OpenAI Service. Additionally, Microsoft offers the Copilot chatbot as an alternative to ChatGPT, accessible via the Bing search engine and Windows operating systems.

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Microsoft shares drop on cloud miss as Azure revenue disappoints

In the cloud

Microsoft reported better-than-expected earnings and revenue for Q4

In extended trading on 30th July 2024, the stock experienced a quick decline as attention was drawn to the less-than-expected Azure revenue, despite management’s forecast for growth in the upcoming quarters.

The company’s total revenue saw a 15% increase compared to the previous year.

Despite surpassing earnings and revenue expectations, Microsoft’s shares dropped by up to 7% in extended trading on Tuesday, with investors concentrating on the underwhelming cloud revenue. However, executives offered a positive outlook, anticipating an acceleration in cloud growth during the first half of 2025.

Microsoft one day chart 30th July 2024

Microsoft one day chart 30th July 2024

Microsoft’s cloud division holds significant interest for investors, as it competes with Amazon Web Services (AWS) and Google in the artificial intelligence (AI) work arena. These three tech giants are pouring substantial resources into enhancing AI capabilities, aiming to attract both startups and established companies as generative AI technology swiftly progresses.

For Amazon, AWS has served as a vital profit centre for the past ten years.

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Apple’s iPhone crown slips again in China

Mobile

Apple has been ousted from the top five smartphone vendors in China during Q2, as local brands like Huawei continue to escalate competition

Apple is no longer among the top five smartphone vendors in China as local brands take over the market.

Apple’s market share in China has declined, falling to 14% in the second quarter from 15% in the first quarter and 16% 2023.

For the first time in history, domestic vendors have taken over all top five positions in China.

According to reports, incorporating Apple’s Intelligence systems in its products in mainland China will be crucial over the next 12 months, as Chinese brands are rapidly integrating generative AI into their designs.

This is not good news for Apple. The company is facing challenges, notably lagging behind in the AI innovation race, and compounded by a rapidly falling share of the mobile market in China.

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Dow rises more than 400 points to hit intra-day of 42000 then trims back before close

Stock rotation

Let the rotation begin

The Dow Jones Industrial Average surged on Friday 12th July 2024 as investors began to diversify beyond the technology sector.

The Dow closed at 40,000.90, after hitting a new all-time high of 40,257.

The Dow closed at 40,000.90, after hitting a new all-time high of 40,257.

The S&P 500 added 0.55% to 5,615, and the Nasdaq Composite went up 0.63% to 18,398. However, on Thursday 11th July 2024 the S&P 500 experienced its worst day since late April due to a major market rotation, with Nvidia dropping 5.6%.

Investors rotated from tech to industrial stocks in the Dow on Friday, hoping that slowing inflation might lead to a Federal Reserve rate cut in September.

The Dow gained 1.6% for the week, spurred by a report showing a 0.1% decline in the consumer price index for June. Recent reports suggest that the Federal Reserve might indeed consider a rate cut in September if inflation continues to slow.

While the AI growth has been dominant, other market catalysts, such as potential rate cuts, can also drive different sectors, including utilities.

Good earnings, improving economic news and the promise of a rate cut are combining to become the perfect storm for U.S. stocks.

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Big Tech and AI stocks push S&P 500 and Nasdaq to new all-time highs!

Record highs

On Wednesday, 10th July 2024, the S&P 500 reached a new record high, surpassing 5,600 for the first time, propelled by a significant surge in semiconductor stocks.

The S&P 500 index rose by 1.02%, ending the day at 5,633 and marking its seventh consecutive day of gains. The Nasdaq Composite increased, achieving a new all-time high closing at 18,647.

This year has seen the S&P 500 close at record highs some 37 times, with the Nasdaq following closely with 27 record high finishes.

S&P 500

S&P 500

Nasdaq Composite

Nasdaq Composite

The Dow Jones Industrial Average grew by 429 points, finishing at 39,721.

Note: figures rounded

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Japan’s Nikkei blast through 42000 to reach all-time high

Nikkei Lift Off!

Japan’s Nikkei 225 surpassed the 42,000 threshold for the first time ever during a widespread increase in Asia-Pacific markets on Thursday 11th July 2024.

This surge followed a rally in U.S. Big Tech stocks, fueled by optimism over a potential Federal Reserve rate cut moving ever closer.

The Nikkei climbed almost 1% to close at 42,224 driven by gains in technology shares, while the comprehensive Topix index advanced to finish at 2,929.

Nikkei index

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An important rare Earth metal

Tungsten rare Earth metal

Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties.

Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications.

Key aspects of its importance

Industrial and technological applications

Tungsten is used in many industries where hardness, high density, high wear resistance, and high-temperature resistance are required. This includes mining, construction, energy generation, electronics, aerospace, and defence sectors. It is used in weapons, autos, electric car batteries, semiconductors and industrial machinery.

Fact: approximately 2Kg of tungsten goes into every electric vehicle.

Alloys

Metals are frequently alloyed with Tungsten to enhance their strength without substantially adding to their weight. This property is vital for uses like arc-welding electrodes and heating elements in high-temperature furnaces.

Significance

Tungsten is acknowledged as a critical metal because of its economic significance and the scarcity of its sources. It is reported that China produces the majority of the world’s tungsten, controlling approximately 80% of the supply of this rare earth metal.

Durability and flexibility

Tungsten’s durability, flexibility, and resistance to corrosion contribute to its popularity across various industries and applications. It ranks among the hardest and most resilient materials found in nature.

These characteristics render tungsten not just crucial but also indispensable for numerous high-tech applications. The rarity of tungsten and the intricate nature of its extraction and refinement processes enhance its value even further.

World suppliers of tungsten

According to Statista.com the global tungsten market was valued at over $5 billion USD in 2022. It’s projected to grow significantly, with estimates suggesting it could reach over $9.5 billion USD by 2030

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Nasdaq and S&P 500 both hit new highs as markets close early for U.S. Independence Day!

U.S. Independence Day

The S&P 500 reached new heights in a shortened trading session on Wednesday 3rd July 2024, with investors seemingly dismissing lacklustre economic data.

The S&P 500 closed at a new high of 5537, while the Nasdaq Composite finished the session at 18188, buoyed by rallies in technology and AI stocks like Tesla and Nvidia. Both indices reached new all-time highs during the session and closed at record levels.

The Dow Jones Industrial Average lost just closed down at 39308.

Trading volume was subdued as the New York Stock Exchange closed early at 1 p.m. ET. The exchange will remain closed on Thursday 4th July 2024 for Independence Day celebrations.

S&P 500: One-year chart – index closed at a new record high

S&P 500 One-year chart closed at new record high

Nasdaq Composite: One-year chart closed at new record high

Nasdaq Composite: One-year chart closed at new record high
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Nvidia rebounds after half a trillion market cap slump

Hot AI

To put this figure into some perspective, the loss is comparable to the GDP output of a small country, such as Norway, Singapore, or the UAE, for example.

Global semiconductor stocks experienced volatility on Tuesday following a decline in Nvidia’s shares from the previous trading sessions.

Shares of chip firms in Europe and Asia fell in early trade as investors reacted to Nvidia losing more than $500 billion in market capitalization over three trading days. Some of the stocks recouped losses, however, as shares in the U.S. chipmaking giant recovered around 6 – 6.5% as of Tuesday 25th June 2024.

This follows a significant drop in Nvidia’s share value, which fell 13% over three consecutive sessions from the record highs achieved on Thursday 20th June 2024.

On Monday 24th June 2024, Nvidia’s stock closed down 6.7%, marking its second-largest decline of the year, yet the shares began to recover in early trading on Tuesday 25th June 2024.

Last week, the company surpassed Apple and Microsoft to become the most valuable U.S. company, achieving a market capitalization of over $3.4 trillion. However, by the end of Monday, Nvidia’s market value had declined by more than $540 billion from its intraday record on Thursday 20th June 2024.

Nvidia reported that the demand for its highly sought-after artificial intelligence graphics processing units (GPUs) continues to be strong.

Companies such as Microsoft, Google, Amazon, and Meta are investing billions of dollars in these chips to enhance their data centres and cloud services.

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Nvidia slips by 13% in three days after momentarily becoming most valuable company

AI on fire

The Dow Jones Industrial Average gained as investors rotated out of ‘hot’ chip stocks, including Nvidia.

Nvidia shares fell a little under 7% on Monday 24th June 2024, the chipmaker’s third down day in a row. The stock is down 13% from its peak last week.

Other stocks that also experienced drops on Monday were some of the biggest gainers of late due to their exposure to the artificial intelligence (AI) feeding frenzy.

Investors may be taking profits and locking in gains in Nvidia and similar momentum stocks after a number of extremely busy trading months.

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Nvidia briefly surpassed the individual stock market values of Germany, France and the UK

Market Cap up

The little-known company, Nvidia, now stands alongside Apple and Microsoft in market cap valuation thanks to AI.

In just a little over a year it has all but tripled its market valuation and become a go to investment on Wall Street and around the world.

Nvidia’s market capitalization has recently individually surpassed the total value of the German, French, and U.K. stock markets.

With a market cap exceeding $3.4 trillion, Nvidia now stands above these significant European stock markets in valuation.

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S&P 500 breaches 5500 but closes slightly lower as Nvidia pulls back from its meteoric rise

S&P 500

The S&P 500 retreated on Thursday 20th June 2024, having momentarily surpassed the 5500 for the first time ever, as Nvidia, a favourite stock with Wall Street investors, relinquished its earlier gains.

The S&P 500 index fell 0.25% to end at 5473. Earlier in the session, the S&P 500 gained around 0.34% to hit a new all-time high.

S&P 500 one day chart 20th June 2024

S&P 500 one day chart 20th June 2024

The Nasdaq Composite dropped 0.79% to finish at 17721. The Dow Jones Industrial Average (Dow) jumped around 299 points, to close at 39134.

Nvidia lost ground and handed the Market Cap crown back to Microsoft after briefly enjoying the accolade for just 2 days. At one point, Nvidia trimmed around $240 billion off its Market Cap as investors took profits.

Will Nvidia regain the crown in the coming weeks? Probably.

Nvidia one day chart 20th June 2024

Nvidia one day chart 20th June 2024
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Anthropic releases its most powerful AI Chatbot

Chatbot

Anthropic, a rival to OpenAI, unveiled Claude 3.5 Sonnet on Thursday, touting it as their most advanced AI model to date.

Claude has joined the ranks of widely used chatbots such as OpenAI’s ChatGPT and Google’s Gemini. Founded by former OpenAI research leaders, Anthropic has secured backing from major tech entities like Google, Salesforce, and Amazon. Over the past year, the company has completed numerous funding rounds, reportedly amassing approximately $7.3 billion.

The announcement comes after Anthropic introduced its Claude 3 series of models in March, followed by OpenAI’s GPT-4o in May 2024. Anthropic has stated that Claude 3.5 Sonnet, the initial model from the new Claude 3.5 series, surpasses the speed of its predecessor, Claude 3 Opus.

“It shows marked improvement in grasping nuance, humour, and complex instructions, and is exceptional at writing high-quality content with a natural, relatable tone,” the company said in a blog post.

It can also write, edit and execute code in a real time workspace open for the user to engage.

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The unloved stock market rally: exploring why many investors are hesitant to embrace this record-breaking run

Unloved rally

The unloved rally: A paradox

The S&P 500 and Nasdaq have been reaching all-time highs with remarkable frequency, notching nearly thirty record days in 2024, including four in the past week. Despite this stellar performance, a considerable number of investors remain hesitant. Let’s explore the reasons behind this paradox.

Lingering recession fears

The recollection of the 2022 bear market continues to trouble investors. The swift escalation of monetary policy by the Federal Reserve at that time generated widespread uncertainty and apprehension. This has led many investors to maintain a cautious stance, concerned that the past may repeat, even amidst a surging market. Maybe less of us expected the AI driven stock buying frenzy to scale such highs so quickly?

Scepticism

Investors are inherently sceptical. Amidst a relentless market rally, uncertainty emerges. Can this be sustained? Is a correction looming? This scepticism may hinder investors from wholeheartedly participating in a bull market, despite what the statistics indicate.

Emotional baggage

Investment isn’t solely a game of numbers; it’s equally a matter of emotions (although it shouldn’t be). Investors bearing the scars of past losses may find their emotional baggage weighing heavily on their decisions. The fear of experiencing another market crash can cloud rational judgement, leading them to forgo opportunities for potential gains.

The ‘easy money’

The stock market’s significant rise from the lows of 2022 has convinced some that the phase of ‘easy money’ is over. Investors who did not capitalize on the early stages of the rally might think they have missed out, causing hesitation to engage fully. That’s where I am right now – but waiting for a ‘pullback’.

Navigating the dilemma

For individuals caught between caution and the fear of missing out (FOMO), the following strategies could be considered.

Diversification

Distribute your investments among various asset classes. Diversification serves to reduce risk and acts as a safeguard against the unpredictability of the market.

Long-term perspective

Keep in mind that investing is akin to a marathon, not a sprint. It’s important to concentrate on long-term objectives instead of short-term market movements.

Education

Inform yourself about market cycles, historical patterns, and the effects of monetary policy. This should empower more informed decision-making.

Professional advice

Consult a financial advisor who can guide you based on your individual circumstances and risk tolerance.

Conclusion

The current stock market rally, though not widely embraced, offers both opportunities and challenges. Investors are tasked with finding the right balance between exercising caution and capitalizing on potential growth. As the market climbs, it’s essential to be aware of our biases and emotions. Only then can we approach the rally with a more informed viewpoint.

Disclaimer: This article provides general insights and should not be considered personalised financial advice. Always consult a professional before making investment decisions.

Remember: Always do your own diligent and careful research.

RESEARCH! RESEARCH! RESEARCH!

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Nvidia passes Microsoft in market cap – should investors be concerned about the meteoric rise?

GPU power for AI

Nvidia, traditionally recognised within the gaming community for its graphics chips, has become the world’s most valuable publicly traded company.

On Tuesday 18th June 2024, Nvidia’s shares rose by 3.6%, increasing its market cap to $3.34 trillion and overtaking Microsoft, now valued at $3.32 trillion. Earlier in the month, Nvidia’s valuation reached $3 trillion for the first time, surpassing Apple.

Nvidia $3.34 trillion market cap

Nvidia $3.34 trillion market cap

So far this year, Nvidia’s shares have surged over 170% and saw further gains after announcing first-quarter earnings in May 2024. Since the close of 2022, the stock has increased more than ninefold, paralleling the rise of generative artificial intelligence.

Apple’s shares dropped by 1.1% on Tuesday, resulting in a market value of $3.29 trillion for the tech giant.

Nvidia commands roughly 80% of the market share for AI chips in data centres, a sector that has expanded rapidly as companies like OpenAI, Microsoft, Alphabet, Amazon, and Meta have competed to acquire the necessary processors for constructing AI models and managing growing workloads.

In the latest quarter, Nvidia’s data centre business saw a 427% increase in revenue from the previous year, reaching $22.6 billion and comprising approximately 86% of the company’s total sales.

Established in 1991, Nvidia initially focused on hardware, selling gaming chips for running 3D games. The company has also ventured into cryptocurrency mining chips and cloud gaming services.

However, in the last two years, Nvidia’s stock has soared as investors recognised its pivotal role in the AI boom, a trend that continues to accelerate. This surge has increased the net worth of co-founder and CEO Jensen Huang to an estimated $117 billion, ranking him as the 11th richest individual globally, according to Forbes.

But is the rise too fast and is it time for a share price valuation adjustment in its meteoric rise, to bring it back down to Earth?

Nvidia share price one year chart 18th June 2024

Nvidia share price one year chart 18th June 2024
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Microsoft will postpone the release of the AI Recall tool amid security worries

Microsoft will not include Recall, the artificial intelligence tool designed to track user activity, in the upcoming release of the Copilot+ PC.

Concerns have been raised by industry experts about the possibility of hackers creating tools to extract user information.

Microsoft has reportedly announced that Recall will transition from a widely accessible tool to a preview feature exclusive to the Windows Insiders Program.

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Apple’s stock reaches a record high following the unveiling of its AI software

Apple Intelligence

Apple’s shares reached a new record high of approximately $207 per share on Tuesday 11th June 2024, surpassing the previous record set in December.

At its annual developer conference on Monday 10th June 2024, the company launched its highly anticipated venture into AI. Apple is playing catch-up in the AI race and this announcement cheered its loyal followers.

Analysts predict that the introduction of new AI features will prompt consumers to update their devices, as these features are exclusive to the latest models.

This is the perfect business model – new products driven by new features, this time it’s ‘AI’ for Apple Intelligence. I wish I thought of it – ‘A‘ for Apple and ‘I‘ or Intelligence. Not just any intelligence, this is Apple intelligence.

So, now we have Apple AI – let’s see what Apple’s version of AI really is.

Apple share price one year chart hitting $207 on 11th June 2024

Apple share price one year chart hitting $207 on 11th June 2024
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S&P 500 and Nasdaq close at new all-time highs again

S&P 500 and Nasdaq all at new highs!

The S&P 500 and Nasdaq Composite reached new closing highs on Tuesday 11th June 2024, propelled by Apple as the tech giant’s stock hit a record itself.

The S&P 500 index climbed to a new high to close at 5375, while the Nasdaq Composite finished the day at 17343. Both indices also hit new intraday highs. However, the Dow Jones Industrial Average fell by around 120 points to close at 38747.

S&P 500 reaches new all-time high on 11th June 2024

S&P 500 reaches new all-time high on 11th June 2024

Nasdaq Composite hits new all-time high on 11th June 2024

Investors seemed to be cashing in on Nvidia, a leader in artificial intelligence, and shifting focus to Apple, which recently introduced new features likely to drive a surge in iPhone upgrades.

Apple’s stock reached a new high during the trading session, its first since December 2023, with around a 7% increase. Nvidia’s stock declined by 0.7% as some profit taking ensued.

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Apple finally now has AI and it’s called: Apple Intelligence (AI)

AI

Apple has entered the artificial intelligence race with the announcement of its version of AI – Apple Intelligence on Monday 10th June 2024, in its attempt to catch up in the AI race.

Reportedly to use it on your phone, you’ll need at least the high-end iPhone 15 Pro from this year’s lineup.

According to Apple’s website, Apple Intelligence will also be compatible with devices equipped with the M1 chip, including the iPad Air, iPad Pro, and Macs.

Apple Intelligence, set to launch in beta this autumn, will offer a variety of features. It will be able to proofread and rewrite your text in different tones, create personalized emojis known as ‘Genmoji,‘ and search for specific messages on your iPhone.

Additionally, it will summarize and transcribe phone calls, manage priority notifications, and integrate OpenAI’s ChatGPT for enhanced Siri responses.

Nothing new here then, just AI features already available elsewhere. Hopefully it will have a decent Apple AI make-over when it finally and fully arrives across all Apple products and platforms.

Apple isn’t leading in AI… yet – it’s just following for now!

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Raspberry Pi tech IPO to raise £166 million in London listing debut

Raspberry Pi

The British computing startup Raspberry Pi is aiming to raise £166 million ($211.2 million) from its initial public offering in London on Tuesday 11th June 2024.

The company, known for its compact single-board computers, has set its share price at 280 pence each. Conditional dealing of Raspberry Pi shares will commence on Tuesday, allowing specific investors, such as institutional buyers, to begin trading.

Based on the pricing of its shares, the company is valued at around £542 million.

This is a rare win for London’s stock exchange which has struggled to attract technology listings in recent time, losing out to the U.S.

In early morning trading Tuesday 11th June 2024 – Raspberry Pi shares climbed over 30%

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Nvidia $3 trillion market cap propels S&P 500 and Nasdaq to new all-time highs

Nvidia at $3 trillion market cap

The S&P 500 reached a new high as Nvidia surpassed the $3 trillion mark for the first time, and the anticipation of an interest rate cut grew due to softer-than-expected job data.

S&P 500 all-time high as of 5th June 2024

S&P 500 all-time high as of 5th June 2024

Similarly, the Nasdaq 100 and Nasdaq Composite achieved new record highs

Nasdaq 100 as of 5th June 2024
Nasdaq Comp as of 5th June 2024

AI boom catapults Nvidia passed Apple’s market cap’ valuation

Artificial intelligence (AI) chipmaker Nvidia passed Apple’s market cap’ to become the world’s second most valuable company after Microsoft.

Nvidia’s shares have surged 24% following its impressive earnings report in May, in contrast to Apple’s shares, which have increased by only 5% this year amid a slowdown in sales growth in recent months.

Nvidia one year share price as of 5th June 2024

Nvidia one year share price as of 5th June 2024

Nvidia Market Cap at $3.01 trillion as of 5th June 2024

Nvidia £3.01 trillion market cap’

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Little know company Kneron launches latest AI chips – backed by Qualcomm

AI chip

Kneron, a startup specializing in artificial intelligence chips, unveiled its latest products on Wednesday 4th June 2024.

The company aims to exploit the growing world-wide interest in AI and provide an alternative to industry heavyweights such as Nvidia and AMD.

The company, headquartered in Taiwan and supported by American semiconductor leader Qualcomm and major iPhone assembler Foxconn, introduced the KNEO 330, its second-generation ‘edge GPT’ server.

GPT, short for generative pre-trained transformer, is an AI algorithm trained on vast datasets capable of generating text and images, with OpenAI’s ChatGPT being the world leader right now.