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🤝 Tech Giants Unite For ‘Open’ AI

GM Money Masters, 👋

‘Tis the season for sleigh bells chiming and snow gleaming, with Christmas vibes filling the air. But amidst the festive cheer, new alliances are sprouting up.

IBM and Meta, alongside several other companies and research groups, have joined forces, challenging OpenAI’s approach to artificial intelligence. Meanwhile, Microsoft has rolled out fresh AI updates across its product lineup.

Ah, recall when we mentioned Coinbase, the crypto company causing a stir on Wall Street? We’ve got some news for its eager stockholders. But brace yourselves for a heartbreaker: GTA VI isn’t making an appearance anytime soon.

Let’s dive into the details.

MONEY MASTERY BRIEF

  • Meta and IBM form The AI Alliance as xAI Seeks $1 Billion
  • Uber Launches Store Pickup
  • Microsoft Introduces New AI Updates to Products
  • GTA VI Breaks Records and Gamers’ Hearts
  • Coinbase COIN Stocks Rally

🥊 AI Alliance vs OpenAI

The Great AI Showdown heats up, and Meta (NASDAQ: META) might just be hitting the jackpot this time. IBM and Meta shook hands and birthed the AI Alliance, a squad of over 50 bigwigs all chanting the same anthem – “Let AI Be Open.”

It’s ironic they didn’t name it OpenAI; that ship had already sailed. Among the league of extraordinary gentlemen in this alliance stand Intel, AMD, Sony, NASA, Harvard, and even CERN.

This AI Alliance is basically a rebellion against closed-off AI systems. Imagine an AI utopia where everyone gets a slice of the code pie—yeah, that’s their dream. They claim this openness will fuel innovation and keep AI’s progress in check. OpenAI initially sailed these waters before it set its sights on the lucrative path to profits.

Meta, known for its cash chase, is the black sheep here. But surprisingly, when it comes to AI, they’ve got a different playbook. Remember LLaMA? They unleashed that beast into the open-source wild and have been chanting “collaboration is key.”

Interestingly, Elon Musk’s xA is not aboard this alliance train. But don’t you worry, they’ve got their own crusade against the AI “wokeness.”

They just filed to pull in a cool $1 billion through equity financing, which might sound audacious for a newbie in the game. But hey, OpenAI scored $10 billion from Microsoft, and Anthropic? Amazon threw $4 billion their way. Money is flowing like a river for AI ventures, especially when Elon’s at the wheels.

📦 Uber Launches Store Pickup

Holidays are a blast for many reasons, but scrambling for last-minute gifts at the store isn’t one of them. Luckily, Uber (NYSE: UBER) has your back.

They’ve rolled out Store Pickup, a game-changer for those eleventh-hour holiday shopping sprees. This nifty service lets you pay for an item and summon an Uber courier to snatch it up for you.

However, here’s the lowdown: the item’s value must cap at $200, and it can’t tip the scales past 30 pounds. Sorry, no room for that life-sized teddy bear on this sleigh ride! You’ve got to handle that in-person store visit for the big stuff.

Oh, and Uber’s hands are tied when it comes to the prohibited items list.

This gift-fetching magic will be on tap in over 1500 cities and towns. Uber’s knack for serving customers in innovative ways has always been their forte. And with the impending move to join the S&P 500, they’re revving up to keep the momentum.

Post-market, their stock is still soaring at an impressive 134% Year-to-Date. Not too shabby for a taxi company’s year, huh?

🤖 Microsoft Brings AI Updates

While Meta and other tech giants are diving into open-sourcing AI, Microsoft (NASDAQ: MSFT) seems unfazed or maybe just doing its thing.

The company is rolling out enhanced products via closed AI systems, gearing up to integrate OpenAI GPT-4 Turbo and a code interpreter into its Copilot. Currently under user testing, this integration is set to go mainstream soon. With GPT-4 Turbo in Copilot, expect a broader data view and more fitting responses to queries.

Not stopping there, Copilot and Bing now boast an upgraded DALL-E 3 model for sharper image creation. Plus, Microsoft Edge gets a cool new Copilot sidebar to assist users in summarizing YouTube videos. Cool, right?

In another stride, Bing’s Deep Search feature is getting an upgrade. It’ll transform simple searches into detailed prompts, making your quest for spaghetti bolognese turn into a guide on “cooking spaghetti from scratch.” It’s a move by Bing to take on Google Search, a battle it has been struggling to win.

Meanwhile, Microsoft has extended the Seeing AI app to Android devices, which narrates the world to visually impaired users. The app, initially on iOS since 2017, continues to assist those with poor eyesight, showcasing Microsoft’s inclusive approach beyond competitive boundaries.

🎮 GTA VI: Not Coming Soon

Brace yourselves if you’re eagerly awaiting the next Grand Theft Auto installment—there’s a bit of a buzzkill on the horizon. The latest trailer for GTA VI just dropped, and hold your horses because it won’t hit the shelves until 2025. Bummer, right?

Originally slated for a December 5th reveal, the trailer got an unexpected early release due to a leaked version surfacing on social media. It showcased the Vice City scene and boasted top-notch graphics, but that “Coming 2025” tag left many gamers and investors feeling a tad crushed.

Mark your calendars vaguely because there’s no exact launch date in sight, leaving the possibility open for a late-2025 arrival. Investors reckon this might delay the impact on Take-Two (NASDAQ: TTWO) until 2026.

Word is, the game will hit Sony’s PlayStation 5 and Microsoft’s Xbox Series X and S consoles. Fingers crossed for a PC version!

Despite the wait, the trailer’s a hit! It’s racked up a whopping 99 million views on YouTube and smashed the record for most views within 24 hours.

GTA V’s cashed in around $7.68 billion since its 2013 launch. With a whopping 12-year gap between GTA V and VI, one wonders how many more GTAs we’ll clock if life extension research doesn’t pull through soon!

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“Global growth is still slowing, and central bank rate cuts in 2024 will be because of weak demand and not just disinflation.”

– UBS Analysts believe the current IPO slump will not end until investors’ confidence returns.

100%. That is how much Coinbase’s COIN stock has risen since our Tech Insight on the company last month. If you ask me, that’s one rollercoaster of a climb for a month—talk about cryptocurrency lifting off to the moon and beyond!

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Stellantis (NYSE: STLA) will launch Fiat 500e, a tiny electric car, in 2024. Starting at $34,095, the car comes with a 42 kWh battery pack that allows it to last 149 miles on one charge. That might not seem like much, but experts think it’s ideal for those who would like a mini car. Full story

Ford (NYSE: F) and Xcel Energy (NASDAQ: XEL) plan to build 30,000 EV charging ports for fleet customers by 2030. Installation will start as soon as 2024 in Colorado and Wisconsin. The automaker is counting on the growing supply of commercial EVs and the needs of the companies operating these vehicles. Full story

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Getty (NYSE: GETY) will have its day in court against Stability AI. A UK court ruled that a stock images supplier has a claim worth investigating. Getty alleged that the AI startup used its copyrighted images to train its Stability Diffusion model and instituted another copyright infringement claim against Stability AI in the U.S. Full story

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US debt-to-GDP is projected to pass 100% for the first time in 2024.

Artificial Intelligence has dominated headlines for most of the year and might not end soon. But there’s the new twist of an ideological battle between companies that are chasing profits and those who want responsible AI development.

Some companies have now formed the AI Alliance to counter the solely profit-driven approach.

Do you think that will be enough to ensure the responsible development of AI?

Let us know by replying YES or NO to this email.

Thanks for reading, and may your investments thrive. 🙂

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