Nvidia On The Rise, ChatGPT's Secret Sauce And AI Cracks Ancient Code: This Week In Artificial Intelligence
Portfolio Pulse from Benzinga Neuro
This week in AI featured significant developments including NVIDIA's price forecast increase by Goldman Sachs, the revelation of ChatGPT's secret sauce backed by Microsoft, and AI's role in solving ancient mysteries. NVIDIA's stock is expected to rise due to demand for accelerated computing. Microsoft's involvement with ChatGPT highlights its investment in AI. Additionally, AI startup Midjourney's new hardware division led by a former Apple engineer signifies growth in AI hardware.
February 11, 2024 | 5:41 am
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Midjourney Inc. hiring former Apple engineer Ahmad Abbas for its hardware division signals growth in AI hardware, potentially impacting Apple's perception in the AI space.
While the hiring of a former Apple engineer by Midjourney Inc. for its AI hardware division does not directly impact Apple's stock, it could influence perceptions of Apple's role and competitive position in the burgeoning AI hardware market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft's backing of OpenAI's ChatGPT, with the revelation of its 'secret sauce', underscores its strong position in the AI market.
The revelation of ChatGPT's 'secret sauce', backed by Microsoft, not only highlights Microsoft's significant role in advancing AI technology but also could positively impact its stock as it reinforces the company's innovative capabilities and leadership in AI.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Goldman Sachs raised NVIDIA's 12-month price forecast to $800, indicating a potential 21% increase due to demand for accelerated computing.
Goldman Sachs' updated price forecast for NVIDIA suggests a strong bullish outlook on the stock, primarily due to NVIDIA's leading position in accelerated computing. This analyst rating can significantly influence investor sentiment and drive the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90