💵 Microsoft: The richest company in the world (thanks to AI)

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Our biggest news story this morning: Microsoft becomes the richest company in the world, beating Apple.

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🌤️ This Morning on AI Tool Report

1. 💵 Microsoft: The richest company in the world (thanks to AI)

2. 📉 Google & Microsoft shares plummet costing $190B

3. 🗣️ ChatGPT brings GPTs into conversations

4. 💰 Robotics firm to secure $100M from OpenAI and Microsoft

5. 📰 The New York Times is building an AI team

Read Time: 5 minutes

FINANCE

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REVENUE

💵 Microsoft: The richest company in the world (thanks to AI)

Our Report: Microsoft earned $62B in revenue for the quarter that ended on December 31, 2023 (thanks to its investments in cloud computing and AI technology), making it the richest company in the world, beating Apple.

🔑 Key Points: 

• The quarterly earnings report shows that Microsoft is the wealthiest company in the world, beating Apple, which has been hit by sluggish iPhone sales in China.

• Powered by investments in AI—namely its cloud-computing unit—Microsoft reported a net income of $21.87B with a 33% increase in revenue.

• Its intelligent cloud department (which includes its Azure services) made $25.8B (a 20% increase from last year's Q4 earnings), beating estimates of $ 25.3 B.

• Microsoft CEO, Satya Nadella, says its success is because they’ve “moved from talking about AI to applying AI”, as analysts predict $60.97B in revenue for this January-March quarter.

🤨 Why should you care: Although Microsoft reported record-breaking earnings and has a market capitalization of over $3 trillion, it’s not immune to AI volatility: Their share prices dropped to nearly 2% in after-hours trading, leaving investors worried (more below).

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SHARE PRICES

📉 Google & Microsoft shares plummet costing $190B

• AI companies (including Google, Microsoft, and AMD) witnessed a loss of $190 billion in market capitalization, triggered by plummeting shares.

• Google faced the biggest drop, with shares falling by 4%—despite generating 13% more revenue in the last quarter (YoY)—with investors likely reacting to low ad revenue.

• AMD witnessed a 3.3% decline in share value, which (despite projecting robust sales) came after their revenue earnings fell short of estimates.

• And—despite reporting record-breaking earnings—Microsoft shares also slipped by 2%, which experts believe is because of its aggressive investment plans.

📖 Bionic Speed Reader by AI Tool Report

✅ Edition 2 of 3: Speed-up Your Text

When To Use: Use our ‘Speed-up Your Text’ GPT when you need to quickly process and understand lengthy articles, reports, or text. It's particularly useful for those with tight schedules who still require in-depth comprehension of complex materials.

1. Step 1: How To Use: Choose the "Paste Your Text - Direct Fast Reading" feature. Input or paste the text you wish to read faster. Bionic Speed Reader will apply its unique reading format, highlighting key parts of the text to enhance your reading speed and comprehension.

2. Step 2: Download the Results: After the Bionic Reading format is applied, you can download the result as a Word document. This allows you to access your speed-enhanced text anytime for efficient and fast reading.

Try Speed Reading!

P.S. Look out for our next edition, where we'll introduce the ability to upload and transform entire documents directly, further simplifying your fast-reading experience.

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“The Data Science team is hiring an experienced Machine Learning Engineer with a background in building machine learning and statistical modeling frameworks from scratch. They can assist with optimizing the different aspects of the modeling process (Data Validation, Data Visualization, Data Stores & Structures, Feature Engineering, Model Training & Evaluation, and Deployments) and improving a variety of Swish products. ”

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ML Engineer Intern | Autodesk

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“As a Machine Learning Intern on the Product Delivery Platform team, you’ll build new recommendation engines to increase discoverability of related products and apps. This platform provides products and their updates to the customers. You will contribute to meaningful projects, be mentored by industry leaders, and participate in tech talks and other activities designed to support your personal and professional development.”

CHATGPT

🗣️ ChatGPT brings GPTs into conversations

• OpenAI is now allowing its paying ChatGPT customers to bring custom-made GPTs into conversations, by typing ‘@’ and selecting a GPT from the list.

• GPTs that have been added to a conversation will understand the full context of the conversation, including things that have been said before they were added.

• With over 3M GPTs to choose from (including AI Tool Reports Bionic Speed Reader), OpenAI will introduce monetization strategies, but not until store traffic reaches beyond 2.7%.

ROBOTICS

💰 Robotics firm to secure $100M from OpenAI and Microsoft

• Robotics firm—Figure AI—is in talks with OpenAI, Microsoft, and others to raise $500M to further develop Figure 01, an AI robot that could replace humans in high-risk roles.

• Microsoft is expected to contribute $95M while OpenAI is set to invest around $5M, following a previous funding round (led by Parkway VC) which raised $70M.

• If this funding round succeeds, it could reach a pre-funding valuation of $1.9B and a post-funding valuation exceeding $2B, propelling it to unicorn status.

JOURNALISM

📰 The New York Times is building an AI team 

• The New York Times (NYT) is hiring a team of ML engineers and AI editors who will work with internal teams to take AI ideas from prototypes into production.

• The team won’t replace journalism, it’ll focus on developing new ways to use generative AI and ML to help journalists with reporting tasks.

• This comes after the NYT recently filed a lawsuit against OpenAI and Microsoft, claiming that ChatGPT was undermining the publication and depriving it of revenue.

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