AI bubble burst may trigger 2008-like banking crisis, says Gary Marcus

In a recent discussion, Gary Marcus raised critical flags about OpenAI's fiscal responsibilities as the stock market faces instability. He warned that the demise of leading AI firms could trigger extensive financial repercussions. Notably, Marcus compared the current climate to WeWork's disastrous decline, suggesting that Microsoft might pick up OpenAI at a bargain.

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‘Dad, the internet at home is too slow’: How Jio’s founding idea took shape

Isha Ambani's concerns regarding poor household internet sparked important conversations about India's digital landscape, leading to transformative innovations. In response, Mukesh Ambani pioneered Reliance Jio in 2011, aiming to enhance mobile connectivity across the nation. Its launch in September 2016 revolutionized the telecom sector by offering affordable data and complimentary voice services.

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From shareholders to partners: How Google and Meta’s Jio investments evolved into an AI alliance

Meta and Google, originally minority shareholders in Jio Platforms, are now forming strategic partnerships with Reliance. The new collaborations focus on enterprise AI initiatives and dedicated cloud infrastructure in India. Meta's joint venture will leverage Llama models for developing AI platforms, while Google focuses on establishing cloud services. Both companies aim to enhance Reliance's capabilities in AI and cloud technology sectors.

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Nvidia, Apple each gave $25 million for Trump's ballroom: Washington Post

The Adelson family, longtime financial supporters of Trump and his Republican Party, committed $25 million as well, as did billionaire Charles Ergen, co-founder and chairman of telecommunications company Dish Network, the report added.

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CoreWeave's slump puts spotlight on debt behind AI boom

The loss-making AI cloud company, burdened with about $50 billion in debt, has become the poster child for mounting concerns that the data center boom is being fueled by credit, straining newer players and pressuring cash flows even at giants such as Alphabet and Meta Platforms.

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Skyroot eyes funding boost; MDR deferment cheers D2C brands

Happy Thursday! Skyroot is eyeing a big funding round as it gears up to scale rocket production. This and more in today’s ETtech Morning Dispatch.

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Eight US states sue OpenAI, claiming ChatGPT harms children

The lawsuits, which were filed in state courts, are seeking an order forcing OpenAI to make changes to how ChatGPT works for children. The states are also seeking an order forcing the company to give up profits it has generated from young users.

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Healthtech startup Confido Health raises $12.5 million in funding led by Z47

Founded in 2022 by Chetan Reddy and Vichar Shroff, Confido Health develops artificial intelligence (AI) agents that automate administrative tasks for healthcare providers, including patient calls, appointment scheduling, insurance verification, prescription refills and payment follow-ups.

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Delaware jury awards Qualcomm $2 in damages, finds Arm breached license agreement

A Delaware jury awarded Qualcomm $2 in nominal damages after finding Arm Holdings breached its architectural license agreement and intentionally sought to disrupt Qualcomm's business, a Qualcomm spokesperson said on Tuesday.

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In a first, AI helps UK lawmaker find her voice in parliament

A British lawmaker made history on Tuesday by becoming the first person to use an AI-generated voice to deliver a speech in the UK parliament. During a debate about health on Tuesday, AI software was used to recreate the sound of her voice, as it used to be, to read a speech she wrote herself.

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Meta releases Muse Wonder AI models to challenge Anthropic and OpenAI

The launch comes after CEO Mark Zuckerberg pledged billions of dollars and aggressively poached researchers over the past year to catch up in Silicon Valley's intensifying AI race.

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