AMD Acquires ZT Systems for $4.9 Billion to Boost AI Capabilities

AMD has announced a $4.9 billion acquisition of ZT Systems, an AI infrastructure firm. This move aims to strengthen AMD’s position in the AI data center market, challenging Nvidia’s dominance. ZT Systems, a major player in custom AI computing infrastructure for leading tech companies, will enhance AMD’s data center division and support the rollout of its Instinct AI chips.

• Acquisition Rationale: AMD seeks to accelerate the adoption of its Instinct line of AI chips, designed to compete with Nvidia's GPUs. ZT Systems' expertise will help AMD develop and deploy AI infrastructure more rapidly.
• ZT Systems Background: Founded 30 years ago, ZT Systems builds custom infrastructure for major AI players like Microsoft, Meta, and Amazon. It will bring approximately 1,000 engineers to AMD.
• Impact on AMD: This acquisition is AMD’s largest since the $35 billion purchase of Xilinx in 2022. It aligns with AMD’s strategy to offer comprehensive AI solutions, similar to Nvidia’s end-to-end systems approach.
• Timeline and Conditions: The deal is expected to close in the first half of 2025, pending regulatory approval. The valuation includes up to $400 million contingent on certain milestones.
• Strategic Goals: The acquisition will help AMD enhance its MI300 and upcoming MI350 AI chips, expand its AI hardware and software ecosystem, and compete more effectively in the AI data center market, where Nvidia currently leads.
• Regulatory Review: The transaction will undergo scrutiny in the U.S. and Europe. AMD has also recently acquired Finnish AI startup Silo AI for $665 million, further expanding its AI capabilities.

Apple Podcasts Launches Web App

Apple Podcasts has launched a web app, available at podcasts.apple.com, for use on desktop browsers including Safari, Chrome, Edge, and Firefox.

• Access Across Devices: Users can now access their Up Next queue, saved library, and browse new podcasts from any web browser, making it easier to switch between iPhone and Windows devices.
• Syncing: The web app syncs with your Apple Account, allowing seamless access to queued episodes and subscriptions across devices.
• Catalog and Subscriptions: Users can search, follow new shows, and view Top Charts. Premium subscriptions can also be managed and purchased via the web app.
• Availability: Visit podcasts.apple.com to use the new web app. iPhone and iPad users will continue to be redirected to the native Podcasts app.

This new web version aligns Apple Podcasts with other Apple services like Music and TV, which already offer web access.

Worldwide AI Spending to Reach $632 Billion by 2028

According to the IDC Worldwide AI and Generative AI Spending Guide, global spending on AI—including AI applications, infrastructure, and services—is projected to surpass $632 billion by 2028, marking a compound annual growth rate (CAGR) of 29.0% from 2024 to 2028.

• Generative AI Growth: Spending on generative AI (GenAI) will grow rapidly, with a five-year CAGR of 59.2%, reaching $202 billion by 2028. Despite this, GenAI will still be less than other AI applications like machine learning and natural language processing.
• Software vs. Hardware: Software will dominate AI spending, accounting for over half of the total market. AI-enabled applications and platforms will receive the majority of software investments. AI hardware and IT/business services will follow, with hardware seeing a slower growth rate than IT services.
• Industry Spending: Financial services, including banking, will lead in AI investment, contributing over 20% of the total spending. Software and information services and retail are also major spenders. Industries with the highest growth rates include Business and Personal Services, Transportation, and Leisure.
• Regional Spending: The U.S. will be the largest market for AI, with spending projected to reach $336 billion by 2028. Western Europe, China, and Asia/Pacific will follow.

IDC's guide provides detailed forecasts for 42 AI use cases across 27 industries and nine regions, covering both generative and traditional AI technologies.

• Tesla Hiring for Robot Training

Tesla is hiring "Data Collection Operators" to train its humanoid robot, Optimus, using motion capture suits. The job, paying up to $48/hour, involves walking for hours, carrying weights, and wearing a VR headset. Employees must be 5'7" to 5'11" tall. Tesla aims to collect millions of hours of data for Optimus, though success is not guaranteed.

• Search for British Tech Mogul After Yacht Sinks Off Sicily

Mike Lynch and five others are missing after their luxury superyacht sank off Sicily due to a waterspout. One body has been found; 15 people were rescued. Authorities are investigating, and international support is underway.

• TSMC Launches $10B German Chip Plant

TSMC has started building a €10 billion chip factory in Dresden, Germany. The plant aims to boost Europe's semiconductor production amid global supply chain issues and geopolitical tensions. Production is expected to begin by late 2027. TSMC will hold a 70% stake in the facility, with Infineon, NXP, and Bosch owning the rest.

• Zoom Expands Webinar Capacity to 1 Million

Zoom has increased its webinar capacity to support up to 1 million simultaneous viewers, a move driven partly by its use in fundraising for Kamala Harris' presidential campaign. Previously, the cap was 100,000.

• GoPro to Cut 15% of Workforce

GoPro will lay off 139 employees, or 15% of its workforce, to cut costs. The restructuring will cost $5-7 million, with expenses spread over Q3 and Q4 of 2024. Shares rose 1.5% post-announcement. Q2 revenue fell 22.7% to $186 million, and operating expenses rose 5%. The company is also under investigation for patent infringement.

• Procreate Rejects Generative AI‍

Procreate will not add generative AI to its app, with CEO James Cuda condemning the technology for harming human creativity. The move is praised by digital artists, contrasting with other platforms like Adobe that have embraced AI features.

• ElevenLabs’ Reader App is Now Available Globally

ElevenLabs' Reader app is now accessible worldwide, supporting 32 languages. Users can listen to uploaded text in various languages and voices. The app features improved text-to-speech quality with the new Turbo v2.5 model and includes the voices of famous actors.

• US Dominates Global AI Investment

The US has invested $335 billion in AI over the past decade, with 5,500 start-ups and 71,000 job openings. This far exceeds China’s investment and job figures.

• AI Cheating on the Rise in Colleges

Colleges face rising cheating due to generative AI like ChatGPT. Detection tools are failing, and traditional methods are inadequate. Some schools are integrating AI into learning, while others advocate updating teaching approaches to mitigate the issue.

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• 7-Eleven Buyout Deal Faces Antitrust Concerns

Alimentation Couche-Tard's proposed acquisition of 7-Eleven's owner, Seven & i Holdings, is likely to face significant antitrust scrutiny, particularly in the U.S., due to the overlap with Circle K. The deal, if approved, would be the largest foreign acquisition of a Japanese company and might lead to more acquisitions in Japan.

• Boeing Halts 777X Tests Due to Cracks

Boeing has stopped 777X flight tests to address cracks in a crucial structural part. The delay could push deliveries to 2026. The issue was found during routine checks and affects only the 777-9 model.

• Carl Icahn Settles SEC Charges for $2M

Carl Icahn and Icahn Enterprises will pay $2 million to settle SEC charges for failing to disclose billions in personal loans secured by company securities. Icahn Enterprises owes $1.5 million, and Icahn himself will pay $500,000. Icahn denies wrongdoing.

• Tencent-Backed Game 'Black Myth: Wukong' Breaks Records

Tencent-backed "Black Myth: Wukong," inspired by the novel Journey to the West, has become the most-played game on Steam with 1.4 million concurrent players on launch day. Developed by Game Science, the title also trended on Weibo with 1.7 billion views and has sparked marketing campaigns from major brands like Lenovo and Luckin Coffee.

• Edgar Bronfman Bids $4.3B for Paramount Global

Edgar Bronfman Jr. has proposed a $4.3 billion bid for Paramount Global, challenging Skydance Media’s deal. His offer includes $2.4 billion for National Amusements and $1.5 billion for Paramount’s debt, plus a $400 million breakup fee. A decision on the bid is due by Aug. 21, with a possible extension.

• Alaska and Hawaiian Airlines Merger Moves Forward

Alaska Airlines and Hawaiian Airlines' proposed $1.9 billion merger has cleared the Justice Department's review and now awaits approval from the Transportation Department. The deal, the largest U.S. airline merger since Alaska's 2016 acquisition of Virgin America, will combine the airlines' fleets and operations.

• Dodo Was Fast and Powerful, Study Reveals

New research shows the dodo was not slow and inept but rather fast and powerful. Early records and preserved specimens reveal the bird had strong legs and was well-adapted to its environment. This new insight revises its long-held image and could aid in conservation efforts.

• Spiders Manipulate Firefly Light to Trap Mates

New research reveals that certain spiders, like Araneus ventricosus, can force trapped male fireflies to mimic female light signals, luring additional males into their webs. This manipulation, observed in field experiments, increases the spiders' prey capture rates.

• ESA's JUICE to Make Historic Lunar-Earth Flyby

ESA's JUICE spacecraft will execute its first lunar-Earth flyby from August 17-22, using gravity assists to set its course for Jupiter. The maneuver will save fuel and involve testing its instruments, including the RIME radar. Additional flybys of Venus and Earth are planned before reaching Jupiter in 2031.

• Waymo is developing a roomier robotaxi with less-expensive tech

Waymo’s latest self-driving tech, Generation 6, integrates into Geely Zeekr EVs. This update uses fewer sensors and cameras, lowering costs and improving performance. The new Robotaxi offers more space and legroom. With a $5 billion investment, Waymo plans to scale its service, already providing 50,000 trips weekly. Testing is underway in various U.S. cities.

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• Dodo Was Fast and Powerful, Study Reveals

New research shows the dodo was not slow and inept but rather fast and powerful. Early records and preserved specimens reveal the bird had strong legs and was well-adapted to its environment. This new insight revises its long-held image and could aid in conservation efforts.

• Spiders Manipulate Firefly Light to Trap Mates

New research reveals that certain spiders, like Araneus ventricosus, can force trapped male fireflies to mimic female light signals, luring additional males into their webs. This manipulation, observed in field experiments, increases the spiders' prey capture rates.

• ESA's JUICE to Make Historic Lunar-Earth Flyby

ESA's JUICE spacecraft will execute its first lunar-Earth flyby from August 17-22, using gravity assists to set its course for Jupiter. The maneuver will save fuel and involve testing its instruments, including the RIME radar. Additional flybys of Venus and Earth are planned before reaching Jupiter in 2031.

• Waymo is developing a roomier robotaxi with less-expensive tech

Waymo’s latest self-driving tech, Generation 6, integrates into Geely Zeekr EVs. This update uses fewer sensors and cameras, lowering costs and improving performance. The new Robotaxi offers more space and legroom. With a $5 billion investment, Waymo plans to scale its service, already providing 50,000 trips weekly. Testing is underway in various U.S. cities.

• Dodo Was Fast and Powerful, Study Reveals

New research shows the dodo was not slow and inept but rather fast and powerful. Early records and preserved specimens reveal the bird had strong legs and was well-adapted to its environment. This new insight revises its long-held image and could aid in conservation efforts.

• Spiders Manipulate Firefly Light to Trap Mates

New research reveals that certain spiders, like Araneus ventricosus, can force trapped male fireflies to mimic female light signals, luring additional males into their webs. This manipulation, observed in field experiments, increases the spiders' prey capture rates.

• ESA's JUICE to Make Historic Lunar-Earth Flyby

ESA's JUICE spacecraft will execute its first lunar-Earth flyby from August 17-22, using gravity assists to set its course for Jupiter. The maneuver will save fuel and involve testing its instruments, including the RIME radar. Additional flybys of Venus and Earth are planned before reaching Jupiter in 2031.

• Waymo is developing a roomier robotaxi with less-expensive tech

Waymo’s latest self-driving tech, Generation 6, integrates into Geely Zeekr EVs. This update uses fewer sensors and cameras, lowering costs and improving performance. The new Robotaxi offers more space and legroom. With a $5 billion investment, Waymo plans to scale its service, already providing 50,000 trips weekly. Testing is underway in various U.S. cities.