Nvidia Surpasses GPT-4, TSMC’s Record Profits, Human-Level AI, & Meta’s Strategic Layoffs

In today’s edition:

• Nvidia’s New AI Model Surpasses GPT-4 Without the Hype But With Big Results
• TSMC's AI-Fueled Surge Powers Record Q3 Profits, with Optimism for 2024 Growth
• Meta’s AI Chief Predicts Human-Level AI in 10 Years with “World Models” at the Core
• Meta Restructures Teams with New Wave of Layoffs

- Naseema Perveen

WHAT CAUGHT OUR ATTENTION MOST

Nvidia’s New AI Model Surpasses GPT-4 Without the Hype But With Big Results

Nvidia just made a significant move in the AI world, introducing its new Llama-3.1-Nemotron-70B-Instruct model without a flashy launch but with jaw-dropping results. The model's performance has quickly surpassed OpenAI's GPT-4, marking a pivotal moment for Nvidia as it expands from GPUs into AI software. Let's explore what this means for the AI industry and businesses.

• Unparalleled Performance: Nvidia’s model outscored OpenAI's GPT-4 and Anthropic’s Claude 3.5 in major benchmarks, showcasing its advanced capabilities.
• Strategic Expansion: Known for hardware, Nvidia is now competing in AI model development, signaling a bold new direction in the AI landscape.
• Business Impact: With accessible free inference and an OpenAI-compatible API, Nvidia’s model offers companies a powerful, cost-efficient AI solution.
• Responsible AI Use: Despite its power, Nvidia cautions against using the model in specialized fields like math and legal reasoning without proper safeguards.

Nvidia's Llama-3.1-Nemotron-70B-Instruct model is a game-changer, pushing the boundaries of AI development and challenging tech giants. As businesses and developers begin to test its real-world potential, all eyes are on Nvidia’s next steps in reshaping the AI industry.

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KEEP YOUR EYE ON IT

TSMC's AI-Fueled Surge Powers Record Q3 Profits, with Optimism for 2024 Growth

Taiwan Semiconductor Manufacturing Co. (TSMC) is riding the AI wave, reporting a record-breaking 54% profit jump in Q3, far surpassing market forecasts. The company, a key supplier for tech giants like Apple and Nvidia, expects sustained growth fueled by strong demand for AI chips. Let's dive into what’s driving this bullish outlook for TSMC.

Key Highlights:

• Record Q3 Profit: TSMC reported a record T$325.3 billion in Q3 profits, beating the market's expectations of T$300.2 billion.
• AI Demand Surge: AI-related chips are driving significant growth, with AI processor sales making up a mid-teens percentage of TSMC's total revenue.
• Optimistic 2024 Forecast: TSMC expects its 2024 revenue to grow close to 30%, higher than previously forecasted.
• Increased Capital Spending: The company is ramping up investment, with capital spending expected to double in Q4 to $11.5 billion.

With AI demand showing no signs of slowing down, TSMC's record-breaking Q3 performance and optimistic outlook for 2024 solidify its position as.............

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