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Nvidia has acquired SchedMD, the developer of the open-source scheduler Slurm, to enhance its open-source software suite and support innovation in AI and HPC. This acquisition aims to maintain Slurm as a hardware-agnostic tool and expand its reach, integrating it with Nvidia's hardware for improved performance. Nvidia's strategy includes increasing investment in open-source tools to lead in the AI market. The company also announced new open-source AI models, boosting its position as a major U.S. provider of open-source AI solutions.
Broadcom's stock fell 18% in three days, wiping out $300 billion in market value, despite strong earnings. Concerns over AI profitability and margin decline led to skepticism. The market demands clear evidence of profitability and a roadmap for AI investments, causing a reassessment of AI stock valuations.
In New York, Koard has announced the launch of Tap to Pay on iPhone, allowing merchants to now accept contactless payments. This new feature will streamline transactions and enhance convenience for both businesses and customers. With this update, businesses can process payments quickly and securely using their iPhones. This move by Koard aligns with the growing trend towards contactless payment methods. Businesses adopting Tap to Pay can expect to see increased efficiency in processing transactions and satisfying customer demands for seamless payment options.
CoreWeave's market decline raises AI bubble concerns; Ford faces $19.5 billion EV loss; Broadcom's stock slide; Oracle's AI spending fears; Frontier Airlines appoints interim CEO; PayPal applies to establish a bank; Comcast spinoff Versant debuts; Stellantis plans Windsor plant expansion; Hard Rock and Steve Cohen get casino license; Uber faces lawsuit over billing practices; NY Attorney General sues UPS; Luminar files bankruptcy; Xerox seeks debt financing; JPMorgan launches tokenized money fund.
Broadcom and Oracle have fallen over 17% in three days, while CoreWeave has dropped more than 60% in six weeks. The crisis in US AI stocks stems from a summer storm, where heavy rain and strong winds caused a major AI data center cluster in Denton, Texas, operated by CoreWeave, to be delayed by about 60 days. The chaotic statements from CoreWeave executives further exacerbated investor panic. This incident exposes the systemic risks facing the entire AI infrastructure industry: the gap between the frenzied pace of construction and actual delivery capability is widening, while valuations in the hundreds of billions of dollars have already priced in optimistic expectations
