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US Giving TSMC Arizona Up to $11.6B for Chip Plants
The U.S. Department of Commerce and TSMC Arizona, a subsidiary of Taiwan Semiconductor Manufacturing Corporation Limited (TSMC), signed a non-binding preliminary memorandum of terms for the U.S. to give TSMC Arizona up to $6.6 billion in direct funding and about $5 billion in loans under the CHIPS and Science Act. The funds are expected to support TSMC Arizona’s roughly $65-billion development of three chip plants in Phoenix. The Department of Commerce says the funds are intended to strengthen U.S. economic and national security by supporting a “reliable domestic supply of the chips that will underpin the future economy, powering the AI boom and other fast-growing industries.”Microsoft Opening AI Hub in London
Microsoft AI, a division focused on consumer AI products and research, is opening an AI hub in London. Microsoft AI London will work to advance language models and tooling for foundation models, collaborating with partners, such as OpenAI, according to Mustafa Suleyman, EVP and CEO, Microsoft AI, in a blog post. Suleyman says there’s an “enormous pool of AI talent and expertise in the U.K.” Microsoft AI plans to make a “significant, long-term investment in the region.” Canada Shares $1.8B AI Package
Canada announced a $1.8-billion package of measures to bolster its AI sector, according to Bloomberg. The bulk of the funding reportedly includes “computing capabilities and technological infrastructure” that are designed to support AI researchers, startups and other companies.Google Releases Gemini for Android Studio
Mountain View, California-based Google launched Gemini in its Android Studio as a coding “companion” for mobile developers. The assistant can understand natural-language queries and is designed to help developers “be more productive” and “save time.” Gemini can help Android developers generate code, find resources and learn best practices.Spotify Testing AI Playlist
Spotify released its AI Playlist in beta to allow premium users to create a playlist by typing a chat prompt. The feature combines Spotfiy’s personalization technology with AI. Spotfiy plans to improve the feature “over the coming months.” AI Playlist is available for premium users on Android and iOS devices in the U.K. and Australia.
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Meta Labeling AI-Generated Content
Meta is planning to begin labeling AI-generated images, video and audio in May. Meta will label the content as “Made with AI” when it detects “industry-standard AI image indicators” or when users disclose they’re uploading AI-generated content. JPMorgan Chase CEO Compares AI to Electricity
Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., says the “consequences of AI” will be “extraordinary and possibly as transformational as” the printing press, steam engine, electricity, computing and the internet, according to his annual letter to shareholders. Dimon says the company’s use of AI could potentially “augment virtually every job” and impact its “workforce composition,” adding that AI “may reduce certain job categories or roles, but it may create others as well.”Oracle Rolls Out Financial Services Compliance Agent
Austin, Texas-based Oracle released its Oracle Financial Services Compliance Agent. The AI-powered cloud service is designed to enable banks to run hypothetical scenario testing to adjust thresholds and controls to sort transactions, identify nefarious activity and meet compliance requirements. "AI and machine learning have tremendous potential to increase the effectiveness of anti-money laundering and other financial crime detection programs to deliver higher efficiencies in the transactional modeling process," said Jason Wynne, global VP of finance, risk and compliance product development, Oracle Financial Services.Unisys Names Global AI Practice Leader
Blue Bell, Pennsylvania-based Unisys, a technology consulting and services firm, named Brett Barton as VP and global AI practice leader, reporting to SVP and CTO Dwayne Allen. Barton has over 20 years of experience in technology leadership at multinational organizations. Previously, he served in senior tech roles at Slalom, Sense Corp, KPMG and Total Productivity Group. Prem Labs Secures $14M
Prem Labs, a research lab focused on open-source AI, raised $14 million in seed funding. Prem Labs, founded in 2023, provides a generative AI development platform, a suite of foundation models and a cluster of GPUs for compute. “We are one step closer to realizing a world of AI sovereignty,” said Simone Giacomelli, CEO, Prem Labs.
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