Artificial Intelligence
Predictive Oncology Reports Third Quarter 2020 Financial Results, Provides Business Update
NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Predictive Oncology (NASDAQ: POAI), a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, today reported financial results for the quarter ended September 30, 2020 and provided a business update.
Business Highlights
- Helomics Magee study completing early in Q4; Helomics presents viable model to Pharma
- Soluble Biotech moves into new office/lab space tripling capacity; new lab equipment installed
- Signed first contract with a pharmaceutical company for protein expression and solubility studies
- Licensed an additional 71 unique ovarian cancer cell lines from Ximbio, the world’s largest non-profit dedicated to life science reagents of all kinds, bringing its total number of unique patient derived cells to 96
- Completed the asset purchase of Quantitative Medicine (“QM”), a biomedical analytics and computational biology company, in an all-stock transaction valued at approximately $1.8 million
- Sold 15 STREAMWAY® systems, including eight to a large university hospital organization in Virginia
“During the third quarter, we continued our work of laying a foundation for our precision medicine business,” commented Dr. Carl Schwartz, Predictive Oncology CEO. “We are making steady progress in our Helomics division with the launch of a restructured clinical test offering to clinicians for ovarian cancer. Our project with UPMC-Magee Womens Hospital, analyzing the genomic and drug response profiles of women with ovarian cancer to build predictive models’ terms of therapy response, is close to completion. We are also in discussions with several pharmaceutical companies about partnerships that will monetize our efforts.
“At our Soluble Biotech division, which provides optimized FDA-approved formulations for vaccines, antibodies and other protein therapeutics faster and at a lower cost basis to its customers, we signed our first contract with a pharmaceutical company for protein expression and solubility studies,” continued Dr. Schwartz. “Importantly, this win validates our investment in state-of-the-art lab equipment and expanded facilities. We are working judiciously to secure additional contracts with other biotechnology and pharmaceutical companies.”
Dr. Schwartz continued, “In our TumorGenesis division, we introduced our Ovarian Cell Line Media at the BIO-Europe Digital Conference where numerous researchers learned from us how they can isolate and successfully culture ovarian cancer cells that previously could not be cultured. Cornell University (Weill) Medical School and TumorGenesis are collaborating to help identify the best culture media for the studying of mutations that increase the risk of ovarian, breast and other types of cancers.
“The Skyline Medical division continues to be self-sustaining, from an operating cash perspective, as sales of new waste fluid management systems and recurring sales of disposables to support those systems more than cover the operating expenses and capital needs of this segment of our business,” noted Dr. Schwartz. “Importantly, sustaining and even modestly growing this division provides us with cash we need as we accelerate the precision medicine components of our business. During the third quarter, we sold 15 STREAMWAY® Systems, including eight to a large university hospital organization in the state of Virginia.
“Our operating cash improved over the first nine months of 2020 as a result of an improvement in operating expenses, if the non-cash expense for goodwill impairment is excluded, continued new sales of our STREAMWAY Systems, which provide an annuity-like revenue stream from ongoing sales of disposables, and proceeds from equity offerings, indicating investor confidence in our emerging precision medicine business,” concluded Dr. Schwartz. “Concurrently, we are taking the necessary steps to manage our balance sheet, including reducing our accounts payable and reducing our derivative liability by amending a settlement provision for certain outstanding warrants.
“Management continues to focus the majority of its resources on the Company’s primary mission of applying artificial intelligence to precision medicine and to drug discovery. Our approach and the mediums used to replace rats and mice in preliminary cancer studies are working in three of our operating subsidiaries, Helomics, TumorGenesis and Soluble Biotech.”
Third Quarter 2020 Financial Results
Revenues of $0.5 million were level with the third quarter of last year, primarily driven through the sale of Predictive Oncology’s proprietary STREAMWAY product line, of which 15 and 19 units were sold in the three months ended September 30, 2020 and 2019, respectively.
Gross margin was 64% in the third quarter of 2020 compared with 60% in the 2019 period. The increase in gross margin was driven by lower manufacturing costs. General & administrative expenses declined 15% to $2.2 million in the third quarter of 2020, primarily as a result of a decrease in penalties related to short-term notes issued in 2019, lower audit fees and share-based compensation expenses. This was partially offset by increases in salary and related expenses, investor relations costs and depreciation. Operations expenses slightly decreased in the third quarter of 2020 primarily due to lower costs related to staff, including share-based compensation.
Operating loss was $5.6 million in the third quarter of 2020 compared with $3.4 million in the 2019 period. General and administrative, operations and sales and marketing expenses were lower across all categories; a non-cash goodwill impairment charge of $3.0 million drove the 2020 operating loss above the 2019 third quarter period.
Net loss attributable to common shareholders was $6.9 million, or $(0.46) per diluted share in the third quarter of 2020, compared with a loss of $4.1 million, or $(1.31) per diluted share for the 2019 period. The loss in the third quarter of 2020 includes other expense of $2.1 million. This includes higher net interest expense, payment penalties, amortization of original issue discounts and a loss on debt extinguishment related to the Company’s notes payable. Additionally, a $0.6 million non-cash deemed dividend (to account for a warrant exercise price adjustment for warrants issued in June 2020) was recognized. These were partially offset by a non-cash gain of $1.4 million related to the revaluation of equity method investments.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates through three segments (Skyline, Helomics and Soluble Biotech), which contain four subsidiaries: Helomics, TumorGenesis, Skyline Medical and Soluble Biotech.
Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical markets its patented and FDA cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes.
Forward-Looking Statements
Certain matters discussed in this release contain forward-looking statements. These forward-looking statements reflect our current expectations and projections about future events and are subject to substantial risks, uncertainties and assumptions about our operations and the investments we make. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue and financial performance, projected costs, prospects, plans and objectives of management are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors including, among other things, factors discussed under the heading “Risk Factors” in our filings with the SEC. Except as expressly required by law, the Company disclaims any intent or obligation to update these forward-looking statements.
Investor Relations Contact:
Hayden IR
James Carbonara
(646)-755-7412
[email protected]
— Tables Follow –
PREDICTIVE ONCOLOGY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, 2020 | December 31, 2019 | |||||||
(unaudited) | (audited) | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash | $ | 2,474,312 | $ | 150,831 | ||||
Accounts Receivable | 508,265 | 297,055 | ||||||
Inventories | 205,908 | 190,156 | ||||||
Prepaid Expense and Other Assets | 269,282 | 160,222 | ||||||
Total Current Assets | 3,457,767 | 798,264 | ||||||
Fixed Assets, net | 3,755,464 | 1,507,799 | ||||||
Intangibles, net | 3,464,327 | 3,649,412 | ||||||
Lease Right-of-Use Assets | 1,790,130 | 729,745 | ||||||
Goodwill | 12,693,290 | 15,690,290 | ||||||
Total Assets | $ | 25,160,978 | $ | 22,375,510 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current Liabilities: | ||||||||
Accounts Payable | $ | 1,628,944 | $ | 3,155,641 | ||||
Notes Payable – Net of Discounts of $495,100 and $350,426 | 5,751,876 | 4,795,800 | ||||||
Accrued Expenses | 2,530,385 | 2,371,633 | ||||||
Derivative Liability | 1,052,494 | 50,989 | ||||||
Deferred Revenue | 66,123 | 40,384 | ||||||
Lease Liability | 577,505 | 459,481 | ||||||
Total Current Liabilities | 11,607,327 | 10,873,928 | ||||||
Lease Liability – Net of current portion | 1,221,806 | 270,264 | ||||||
Other long-term liabilities | 95,079 | – | ||||||
Total Liabilities | 12,924,212 | 11,144,192 | ||||||
Stockholders’ Equity: | ||||||||
Preferred Stock, 20,000,000 authorized inclusive of designated below | ||||||||
Series B Convertible Preferred Stock, $.01 par value, 2,300,000 shares authorized, 79,246 and 79,246 shares outstanding | 792 | 792 | ||||||
Series D Convertible Preferred Stock, $.01 par value, 3,500,000 shares authorized, 0 and 3,500,000 outstanding | – | 35,000 | ||||||
Series E Convertible Preferred Stock, $.01 par value, 350 shares authorized, 0 and 258 outstanding | – | 3 | ||||||
Common Stock, $.01 par value, 100,000,000 shares authorized, 16,593,283 and 4,056,652 outstanding | 165,932 | 40,567 | ||||||
Additional paid-in capital | 108,983,174 | 93,653,667 | ||||||
Accumulated Deficit | (96,913,132 | ) | (82,498,711 | ) | ||||
Total Stockholders’ Equity | 12,236,766 | 11,231,318 | ||||||
Total Liabilities and Stockholders’ Equity | $ | 25,160,978 | $ | 22,375,510 |
PREDICTIVE ONCOLOGY INC.
CONDENSED CONSOLIDATED STATEMENTS OF NET LOSS
(Unaudited)
Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
Revenue | $ | 480,757 | $ | 522,696 | $ | 958,484 | $ | 1,064,088 | |||||||
Cost of goods sold | 175,206 | 208,096 | 353,124 | 400,202 | |||||||||||
Gross margin | 305,551 | 314,600 | 605,360 | 663,886 | |||||||||||
General and administrative expense | 2,226,634 | 2,616,991 | 8,266,927 | 7,425,305 | |||||||||||
Operations expense | 568,766 | 707,414 | 1,638,635 | 2,445,238 | |||||||||||
Sales and marketing expense | 121,514 | 434,955 | 518,938 | 1,674,200 | |||||||||||
Loss on goodwill impairment | 2,997,000 | – | 2,997,000 | – | |||||||||||
Total operating loss | (5,608,363 | ) | (3,444,760 | ) | ( 12,816,140 | ) | (10,880,857 | ) | |||||||
Gain on revaluation of cash advances to Helomics | – | – | – | 1,222,244 | |||||||||||
Other income | 44,926 | 15,084 | 97,894 | 65,293 | |||||||||||
Other expense | (2,147,057 | ) | (894,811 | ) | (3,993,969 | ) | (2,052,522 | ) | |||||||
Gain (loss) on derivative instruments | 1,402,768 | 315,975 | 1,007,794 | 84,627 | |||||||||||
Gain on notes receivables associated with asset purchase | – | – | 1,290,000 | – | |||||||||||
Loss on equity method investment | – | – | – | 439,637 | |||||||||||
Gain on revaluation of equity method in investment | – | – | – | 6,164,260 | |||||||||||
Net (loss) | $ | (6,307,726 | ) | $ | (4,008,512 | ) | $ | (14,414,421 | ) | $ | (5,836,592 | ) | |||
Deemed dividend | 554,287 | 125,801 | 554,287 | 146,199 | |||||||||||
Net income (loss) attributable to common shareholders per common shares-basic and diluted | $ | (6,862,013 | ) | $ | (4,134,313 | ) | $ | (14,968,708 | ) | $ | (5,982,791 | ) | |||
Gain (loss) per common share basic and diluted | $ | (0.46 | ) | $ | (1.31 | ) | $ | (1.51 | ) | $ | (2.32 | ) | |||
Weighted average shared used in computation – basic and diluted | 15,026,789 | 3,146,609 | 9,935,738 | 2,581,014 | |||||||||||
Artificial Intelligence
Highlights from the Finale: Day Three of the London Blockchain Conference Unravelled
As the London Blockchain Conference draws to a close, attendees heard from industry experts on Driving Innovation with Blockchain.
LONDON, May 23, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference were in to witness the final day, which featured a line-up of informative and thought-provoking speakers. Throughout the day, there were exciting panels and presentations which featured cutting-edge ideas and insights.
Day 3 kickstarted with BSVA launching a new report focusing on the role of blockchain in safeguarding data and streamlining transactions.
Other sessions included:
The Intersection of Web3, AI, and Emerging Tech – Somi Aran, Founder of InPeak gave the opening keynote which explored the dynamic convergence of Web3, Artificial Intelligence, and emerging technologies. She delved into how these technologies are reshaping industries and redefining the boundaries of innovation and the potential impacts and opportunities these technologies present.
Bridging the gap: Making Web3 technologies user-friendly – Christine Leong, CIO, nChain – discussed some of the innovative strategies and practical solutions aimed at simplifying Web3 technologies. She also discussed how nChain is planning to transform Web3 from a domain exclusive to the tech-savvy, into a user-friendly ecosystem that empowers all users.
Is code law? – Rules applicable to blockchain networks – panel featuring Marcin Zarakowski, CEO of Token Recovery, Akber Datoo CEO of D2 Legal Technology, Jeffrey Golden, King’s Counsel (Hon) at 3 Hare Court Chambers, Andrei Kirilenko, Professor of Finance at Cambridge Judge Business School, Professor Sarah Green, Law Commissioner at Law Commission, where they discussed that rules apply to the nodes and validators which support the particular network and process its transactions. The group also discussed whether the blockchain protocols’ rules and software code are the only sources of regulation in blockchain networks.
An Introduction to nChain Identity – Thomas Moretti, Head of Product Development at nChain. He spoke about the Self Sovereignty Identity concept and showcased the latest project it is working on – nChain Identity.
Reimagining Roles: How regulated industry leaders are shaping the future of finance – a panel featuring, Andrew Mosson (Chief Commercial Officer of OneTrading, Néstor Palao, Head DLT & Corporate Clients at Sygnum Bank, Laurence Lewandowska, CFO/COO at BSV Association and Wojciech Kaszycki Chairman & Founder at Mobilum. The panel discussed how the new era of digital assets, traditional banking institutions, exchanges, and financial services are being reimagined in the context of emerging technologies such as blockchain and AI.
Please register here if you would like to listen to any of the sessions today.
If you want to interview any speaker from today’s sessions, please email [email protected].
About the London Blockchain Conference NETWORK. LEARN. ENGAGE. At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself.
View original content:https://www.prnewswire.co.uk/news-releases/highlights-from-the-finale-day-three-of-the-london-blockchain-conference-unravelled-302154546.html
Artificial Intelligence
Nord Anglia Education publishes new insights on the role of AI and metacognition in learning
LONDON, May 23, 2024 /PRNewswire/ — INSIGHTS, the global publication from Nord Anglia Education, has published two new articles taking an in-depth look at AI in education and the role of metacognition in teaching and learning.
Exploring the role of AI in learning
https://www.nordangliaeducation.com/insights/2024/articles/the-generative-generationIn its ‘Generative Generation’ feature, INSIGHTS explores the role of artificial intelligence (AI) in education, and whether the technology is making it easier for children to learn. Speaking to Nord Anglia’s educators as well as leading experts from the world of academia, it also includes real-life examples of how Nord Anglia’s schools are using AI in the classroom.
For example, Nord Anglia’s British International School in Kuala Lumpur has adapted the technology to create an AI-powered teaching assistant that can personalise learning, guide students through content exploration, and deepen their understanding through interactive activities. Learners define the topic they want to explore and the course specification they are working to, and the AI explores the content with them in a conversational way, enabling them to ask questions as they go.
Dr Bruce Geddes, Deputy Head of Secondary at the school, told INSIGHTS that AI represents “the biggest opportunity we’ve had in our lifetimes, for many, many spheres, but particularly in education”.
Avenues: The World School in New York, which became part of Nord Anglia in 2023, encourages its students to use AI in their work. As an example, in an app development project students use ChatGPT to generate the bulk of the coding, then review, correct and refine it. This saves them “hours of manual work by leveraging the appropriate tool in an academically appropriate way,” says Lia Muschellack, Director of Technology at the school.
The school also has its own generative AI chatbot, Savvy, built in 2019 and now powered by open AI technology. It can answer queries, provide information, and engage in “diverse discussions ranging from academic topics to casual conversations”.
“We understand that our students will be actively leveraging these tools throughout their academic and professional pathways, so we want to make sure they not only understand the potentials and limitations, but that they have tinkered and truly experienced them,” Muschellack explains.
Metacognition: a learning superpower
In its feature ‘Metacognition. Helping Kids Unlock the Power of ‘Thinking about Thinking’, INSIGHTS looks at how students can develop the important skill of metacognition.
“Metacognition is the ability to be aware of our cognitive or thought processes and to monitor, reflect on, and change those processes,” Dr Rose Luckin, Professor of Learner Centred Design at the University College London Knowledge Lab, told INSIGHTS.
Nord Anglia Education is working with Dr Luckin to develop its approach to metacognition and to help teachers introduce metacognitive strategies into classrooms. It has developed a metacognitive framework of six “Learner Ambitions” to help students develop the 6 Cs: to become critical, creative, committed, and curious learners, working compassionately and collaboratively in the classroom and beyond.
As the article explains, Nord Anglia’s deep dive into metacognition has many goals: developing student agency, boosting academic performance, and developing ‘future’ skills that employers want. The framework is being initially applied across 27 Nord Anglia schools around the world and its impact will be measured in independent research in partnership with Boston College, reporting in 2025.
Nord Anglia’s examination of metacognition also involves exploring personalised goals and thinking routines. For instance, students at Nord Anglia International School Hong Kong use the “Step In, Step Out, Step Back” routine to develop empathy and understanding in their studies. “It’s about asking the right questions; those really big questions that lead to even more questions,” says Raquel Thomson, the school’s Deputy Head of Primary. “Thinking strategies like this stay with students and serve a purpose whatever they do in their lives, whether they choose to be a scientist or a teacher or go into business.”
For media enquiries please contact: Francesca Milani Communications Manager, Digital Education Portfolio +44 20 7131 0000 [email protected]
About Nord Anglia Education:
As the world’s leading international schools organisation, we’re shaping a generation of creative and resilient global citizens who graduate from our schools with everything they need for success, whatever they choose to be or do in life.
Our strong academic foundations combine world-class teaching and curricula with cutting-edge technology and facilities, creating learning experiences like no other. Inside and outside of the classroom, we inspire our students to achieve more than they ever thought possible.
No two children learn the same way, which is why our schools around the world personalise learning to what works best for every student. Inspired by our high-quality teachers, our students achieve outstanding academic results and go on to study at the world’s top universities.
To learn more or apply for a place for your child, go to nordangliaeducation.com.
Logo: https://mma.prnewswire.com/media/1503193/3645357/Nord_Anglia_Education_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/nord-anglia-education-publishes-new-insights-on-the-role-of-ai-and-metacognition-in-learning-302154442.html
Artificial Intelligence
Facing the Power Crunch: Tech Developers Push for More Efficient Hardware Amidst AI Boom
USA News Group News Commentary Issued on behalf of Avant Technologies Inc.
VANCOUVER, BC, May 23, 2024 /PRNewswire/ — USA News Group News Commentary – In order to power the ongoing artificial intelligence (AI) revolution, behind the scenes there’s going to need a lot more investment and… power. This is because cloud based services, especially those fuelling new AI capabilities, requires lots and lots of power, which is allowing contractors to cash in on building rooms containing power management equipment. But while the demand for more AI solutions is set to threaten the world’s electricity grids according to Blackstone CEO Steve Schwarzman, tech developers are working diligently to make hardware more efficient and to service this surging demand, with several developments recently announced by tech companies including: Avant Technologies Inc. (OTC: AVAI), Advanced Micro Devices, Inc. (NASDAQ: AMD), Microsoft Corporation (NASDAQ: MSFT), Broadcom Inc. (NASDAQ: AVGO), and Astera Labs, Inc. (NASDAQ: ALAB).
The article continued: According to Research and Markets, the Global Data Center Infrastructure Market alone is expected to nearly hit US$6 billion by 2029, growing at a CAGR of 9.58%. Analysts at Exactitude Consultancy are also projecting the Global Data Centre Market as a whole, will reach US$536.38 billion by 2030, growing at a CAGR of 10.72%.
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), a leading innovator and enabler of AI infrastructure technology, today announced its engagement with Wired4Tech, a renowned AI infrastructure consulting firm.
As part of its existing technology services agreement with Wired4Tech, Avant Technologies has engaged Wired4Tech to conduct comprehensive performance benchmarking of a next-generation AI cloud server that Avant is evaluating for future use in its AI data center cloud infrastructure.
Wired4Tech’s performance benchmarking will encompass a range of crucial metrics, including response time, throughput, CPU and memory usage, disk I/O, network latency, and error rates. These metrics are essential for assessing the server’s ability to handle complex AI workloads efficiently and reliably. Additionally, Wired4Tech will measure the server’s power consumption and anticipated cost savings.
Response time will be evaluated to measure the speed at which the server responds to various actions, providing insight into its overall responsiveness. Throughput analysis will assess the server’s data transfer capabilities, considering factors such as file size, cached or uncached content, and available network bandwidth.
Furthermore, CPU and memory usage will be closely monitored to gauge the server’s processing power and memory management efficiency. Disk I/O performance will be evaluated to ensure smooth data access and storage operations, while network latency measurements will provide valuable information on the server’s communication speed with external systems.
“We are excited to engage Wired4Tech to benchmark the performance of an innovative, next-generation AI server,” said William Hisey, Chief Executive Officer, at Avant Technologies. “By conducting rigorous benchmark testing of this promising server technology, we expect to validate its expected performance and cost-saving benefits.”
The results of the benchmark testing will enable Avant Technologies to further execute on its AI infrastructure business strategy.
CONTINUED… Read this and more news for Avant Technologies at: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market this week include:
Advanced Micro Devices, Inc. (NASDAQ: AMD), a leading global semiconductor company with Data Center, Client, Gaming, and Embedded segments, showcased its latest end-to-end compute and software capabilities for Microsoft customers and developers, that utilize AMD solutions such as AMD Instinct MI300X accelerators, ROCm open software, Ryzen AI processors and software, and Alveo MA35D media accelerators. By using these, Microsoft is able to provide a powerful suite of tools for AI-based deployments across numerous markets.
“The AMD Instinct MI300X and ROCm software stack is powering the Azure OpenAI Chat GPT 3.5 and 4 services, which are some of the world’s most demanding AI workloads,” said Victor Peng, president, AMD. “With the general availability of the new VMs from Azure, AI customers have broader access to MI300X to deliver high-performance and efficient solutions for AI applications.”
Microsoft Corporation (NASDAQ: MSFT), global leader in developing and supporting software, services, devices and solutions, announced new computers called “Copilot+” PCS, with the company’s AI tech directly into them, serving to further boost the race among tech giants to push out AI tools to the public. According to CEO Satya Nadella at an event at Microsoft’s headquarters prior to its annual Build conference, adding computer chips tailored to run AI technology to its PCs and tablets will make AI tools and features run faster than if the technology runs through an internet connect, as most chatbots today run.
However, Microsoft is also continuing its efforts to expand cloud-computing services in East Africa, by announcing it is partnering with UAE-based AI firm G42 to invest $1 billion in a data center in Kenya. The data center will be powered by geothermal energy and provide access to Microsoft’s Azure through a new cloud region for East Africa.
Broadcom Inc. (NASDAQ: AVGO), a global technology leader in a broad range of semiconductor, enterprise software and security solutions, announced its latest portfolio of highly-scalable, high-performing, low-power 400G PCIe Gen 5.0 Ethernet adapters to revolutionize the data center ecosystem. The new products offer an enhanced, open, standards-based Ethernet NIC and switching solution to resolve connectivity bottlenecks as XPU bandwidth and cluster sizes grow rapidly in AI data centers.
“Broadcom is prioritizing open standards and fostering collaboration with industry leaders to deliver the most extensive selection of high-performance connectivity solutions for AI infrastructure,” said Jas Tremblay, Vice President and General Manager of the Data Center Solutions Group, Broadcom. “Our 400G PCIe Gen 5.0 Ethernet adapters yet again underscore our commitment to enable the network-centric AI infrastructure platform.”
Astera Labs, Inc. (NASDAQ: ALAB), a global leader in purpose-built connectivity solutions that unlock the full potential of AI and cloud infrastructure, announced expanded PCIe 6.x testing capabilities in its Cloud-Scale Interop Lab to enable seamless interoperability between Aries 6 PCIe/CXL Smart DSP Retimers and a broad range of PCIe 6.x hosts and endpoints. The new capabilities pave the way for AI platform developers to design high-bandwidth, low-latency PCIe 6.x connectivity with confidence, reduce overall development time, and deploy at scale.
“As AI systems continue to advance at a rapid pace, data center operators need to deploy increasingly complex systems on an accelerated timeline,” said Thad Omura, Chief Business Officer of Astera Labs. “Expanding our Cloud-Scale Interop Lab test suite to support PCIe 6.x operation fast-tracks deployment for customers integrating Aries 6 – the industry’s lowest power PCIe 6.x/CXL 3.x Retimer – with solutions from our ecosystem partners.”
Source: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
CONTACT:
USA NEWS GROUP [email protected] (604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/facing-the-power-crunch-tech-developers-push-for-more-efficient-hardware-amidst-ai-boom-302154397.html
-
Uncategorized6 days ago
Coca-Cola: The future is ‘AI meets human ingenuity’
-
Artificial Intelligence7 days ago
Strava Unveils New Chapter of Accelerated Product Development at Brand’s Flagship Event
-
Artificial Intelligence6 days ago
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
-
Uncategorized6 days ago
The rise of intelligent automation as a strategic differentiator
-
Uncategorized7 days ago
SoftBank looks at ‘softening’ angry customer calls with AI
-
Uncategorized7 days ago
USDOT seeks input on effective and safe AI use in transportation
-
Uncategorized6 days ago
AI, bias and experiments: how Women in News is tackling tech’s inbuilt stereotypes
-
Uncategorized6 days ago
Brinc Acquires Callmi – MENA’s #1 Mentorship Platform