The artificial intelligence story shows no signs of cooling. Instead, according to McKinsey the AI market could swell to $17 trillion to $25 trillion by 2030. In addition, AI related spending will make up about 8% to 10% of IT budgets in 2024, according to Wedbush. “This demonstrates a remarkable acceleration in AI spending after it comprised less than 1% of IT budgets in 2023,” added Seeking Alpha. All of which could have a powerful impact on AI-related stocks, such as VERSES AI (CBOE: VERS) (OTCQB: VRSSF), Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), Meta (NASDAQ: META), and Advanced Micro Devices (NASDAQ: AMD).
In addition, “Gartner forecasts global spending on AI software will surge to $297B by 2027 as software vendors continue to integrated AI tools into products. The research firm expects more than 70% of independent software vendors will embed GenAI into their enterprise applications by 2026. That figure was less than 1% in 2023,” added Seeking Alpha.
Look at VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF), For Example
VERSES AI Inc., a cognitive computing company developing next-generation intelligent software systems, today announced an upcoming public beta preview of its platform, Genius™. CEO Gabriel René, Chief Product Officer, Hari Thiruvengada, and President, James Hendrickson conduct a webinar on June 20th to demonstrate the software and discuss future rollout plans.
“We’ve designed Genius to empower developers to create a new class of intelligent software systems that transcend the capabilities of today’s AI platforms,” said Thiruvengada.
René comments, “That’s why major players like JPL and Volvo Cars are working with us and why thousands of other developers have signed up for access to Genius. Today we’re thrilled to announce that we will begin rolling out beta access to the broader developer community starting June 20th. We look forward to collecting feedback and feature requests and improving Genius to enable a smarter world.”
Interested parties can register here for the webinar starting today and developers can sign up for Genius beta here.
To learn more about Genius, please visit: https://www.verses.ai/genius
Other related developments from around the markets include:
Driving a fundamental shift in the high-performance computing industry toward AI-powered systems, NVIDIA announced nine new supercomputers worldwide are using NVIDIA Grace Hopper™ Superchips to speed scientific research and discovery. Combined, the systems deliver 200 exaflops, or 200 quintillion calculations per second, of energy-efficient AI processing power. New Grace Hopper-based supercomputers coming online include EXA1-HE, in France, from CEA and Eviden; Helios at Academic Computer Centre Cyfronet, in Poland, from Hewlett Packard Enterprise (HPE); Alps at the Swiss National Supercomputing Centre, from HPE; JUPITER at the Jülich Supercomputing Centre, in Germany; DeltaAI at the National Center for Supercomputing Applications at the University of Illinois Urbana-Champaign; and Miyabi at Japan’s Joint Center for Advanced High Performance Computing — established between the Center for Computational Sciences at the University of Tsukuba and the Information Technology Center at the University of Tokyo.
Microsoft announced a broad investment package designed to strengthen the role of Southeast Wisconsin as a hub for AI-powered economic activity, innovation, and job creation. These investments include $3.3B in cloud computing and AI infrastructure, the creation of the country’s first manufacturing-focused AI co-innovation lab, and an AI skilling initiative to equip more than 100,000 of the state’s residents with essential AI skills. President Joe Biden will join Microsoft President Brad Smith at Gateway Technical College to announce the new investment.
“Wisconsin has a rich and storied legacy of innovation and ingenuity in manufacturing,” said Brad Smith, Vice Chair and President of Microsoft. “We will use the power of AI to help advance the next generation of manufacturing companies, skills and jobs in Wisconsin and across the country. This is what a big company can do to build a strong foundation for every medium, small and start-up company and non-profit everywhere.”
Meta Platforms reported financial results for the quarter ended March 31, 2024. “It’s been a good start to the year,” said Mark Zuckerberg, Meta founder and CEO. “The new version of Meta AI with Llama 3 is another step towards building the world’s leading AI. We’re seeing healthy growth across our apps and we continue making steady progress building the metaverse as well.”
Advanced Micro Devices showcased its ongoing high-performance computing (HPC) leadership at ISC High Performance 2024. For the third year in a row, the Frontier supercomputer housed at Oak Ridge National Lab – powered by AMD EPYC™ CPUs and AMD Instinct™ GPUs – remains the fastest supercomputer in the world with a High-Performance Linpack (HPL) score of 1.2 exaflops based on the latest Top500 list. The Top500 list also includes three new systems from Lawrence Livermore National Laboratories (LLNL), the El Capitan Early Delivery System (EDS), RZAdams, and Tuolumne, coming in at number 46, 47 and 48 respectively on the Top500 list with a single cabinet early submission scores of 19.65 petaflops. These three systems are the first supercomputers on the Top500 list powered by the AMD Instinct™ MI300A APU, launched in December 2023. AMD now powers 157 supercomputers on the latest Top500 list, a 29 percent increase from the previous year, and 157 systems on the Green500 list of the most efficient supercomputers in the world.
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