Artificial Intelligence

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Friendsurance invented peer-to-peer insurance. It just sold for its paperwork.

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Cover Genius has acquired Friendsurance, the Berlin company that invented peer-to-peer insurance. The deal took effect immediately, and neither side disclosed a price. Friendsurance built its name on a simple idea. Small groups of policyholders pool together, and everyone who stays claim-free collects cash back at the end of the year. Its own German language […]

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Coforge says AI is expanding its margins. Its rivals call it ‘AI deflation’

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Coforge reported first quarter revenue of $592.2m on Monday. That is a rise of 33% in dollar terms over the year, and 21.1% on the previous quarter. In rupees the annual increase reads 49%. Profit after tax reached $55.6m. Those numbers land in an industry bracing to shrink. HCL Technologies has warned of “AI deflation”. […]

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Amkor will spend up to $3bn this year, close to 40% of its revenue

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Amkor Technology reported record second quarter results on Monday. Revenue reached $1.9bn, up 26% on a year earlier, and net income more than tripled. Operating income roughly doubled to $200m. Earnings came in at $0.70 a diluted share, against $0.22. EBITDA reached $400m. The numbers matter less than what the company plans to do next. […]

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A new AI listens to every prison call and decides who is speaking

Artificial Intelligence, Data and security, Digital Marketing, Government and policy, privacy, SEO Tips, Technology, United States /

A Texas company has begun selling corrections agencies an artificial intelligence system that listens to prison phone calls. It works out who is speaking, whether or not the speaker wants that. LEO Technologies, based in Austin, announced Verus Voice AI on Monday. The product uses voice biometrics to catch prisoners who call on someone else’s […]

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Apple’s new smart home hardware has been finished for months. Siri was the hold-up.

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Apple is preparing a push into the smart home with a new Apple TV 4K, an updated HomePod mini, and a hub device built around its rebuilt Siri, Bloomberg’s Mark Gurman reported on Tuesday. The hardware for the first two has reportedly been finished for months and is already being tested by Apple employees on […]

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Apple’s new smart home hardware has been finished for months. Siri was the hold-up. Read More »

Australia’s world-first data centre rules need every state to agree. Two just said no.

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Australian Prime Minister Anthony Albanese’s proposed national environmental and energy controls for the country’s A$150 billion data centre pipeline hit their first obstacle on Tuesday, when two jurisdictions declined to back them. Federal, state and territory energy ministers met virtually to discuss the plan, and Queensland and the Northern Territory opposed most of the measures, […]

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Australia’s world-first data centre rules need every state to agree. Two just said no. Read More »

Nvidia announced $750bn of AI deals. Its own credit market flinched.

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Nvidia is working on a fresh round of AI infrastructure deals potentially worth more than $750 billion, Bloomberg reported, accelerating a pattern of investment that critics say inflates demand and valuations across the sector. The response from the debt market was unusually direct. Nvidia’s five-year credit default swap spread surged to a record 82 basis […]

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Nvidia announced $750bn of AI deals. Its own credit market flinched. Read More »

An AI correction is now a top global credit risk, Fitch says

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Fitch Ratings has gathered a number of the market’s quieter anxieties into a single sentence, warning that a possible AI market correction is now emerging as one of the biggest credit risks facing the global economy. The judgement comes in the agency’s third-quarter Global Risk Outlook, published this week, and it lands at a moment […]

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Core Scientific pivots to AMD with 2.5GW AI data-centre pact months after CoreWeave deal collapsed

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Nine months after its own shareholders torpedoed a roughly $9bn takeover by CoreWeave, Core Scientific has found a far larger partner in the chipmaker trying to loosen Nvidia’s grip on artificial intelligence. On Tuesday the former bitcoin miner said it had signed a data-centre agreement with AMD that could eventually reach 2.5 gigawatts of capacity across the American […]

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Most enterprise AI spend still hasn’t left the lab

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New research puts a hard number on something a lot of IT leaders already suspected. Most AI pilots never make it into production, and the spend behind them isn’t disappearing, it’s just sitting in limbo. Jon Bitz, chief relationship officer and co-founder at KloudStax, says that limbo isn’t the failure it looks like from the outside. The […]

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