Shares of memory maker SK Hynix fell 10 percent as a sell-off in global tech hardware stocks deepened on Thursday. Investors are weighing fears of a Federal Reserve rate hike alongside worries about AI funding.
The founders of Ricursive Intelligence describe AI that designs chips, learns from each iteration and improves the next design. Their goal is to automate and speed up chip design to ease the shortage of computing capacity.
Dell shares fell 11 percent and led a broader sell-off in data center stocks after Barclays downgraded Dell, HPE and NetApp. The bank cited concerns that enterprise adoption of AI is lagging.
Speaking to Bloomberg in London, Nvidia's CEO said he would stop supplying chips to a customer building unsafe AI, while arguing that today's level of concern is not justified. His answer is faster development of containment and monitoring technology, which Nvidia is assembling a team to sell.
Modal, a cloud platform that runs AI models and code for developers, raised $750 million in a Series D at a $15.75 billion valuation. Accel led the round with Kleiner Perkins joining, and all existing investors took part; its annualized revenue run rate now exceeds $1 billion.
Oxfordshire photonics firm Salience Labs closed an oversubscribed $125M Series B led by Bullhound Capital, with AMD Ventures, Intel Capital and the British Business Bank participating. The money will go toward scaling production of its optical switches for AI data centres and opening a second West Coast office.