The second most valuable company to reach $3T 📈

Welcome back to AI Odyssey!

Today’s edition is 850 words, a 2.5 minute read. 

We’ll discuss the second MOST valuable company reaching $3 Trillion and leaked emails on Elon Musk diverting thousands of AI chips..👀

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📈1 big thing: The second most valuable company to reach $3T valuation

Nvidia has become the world's second most valuable company. On Wednesday, the chipmaking giant's market capitalization soared to $3.01 trillion, even bigger than Apple, Amazon and Alphabet.

Highlights of the journey:

• $1-2 trillion: Nvidia‘s H100 chip dominated the AI race, leading to a surge in value. After becoming a $1 trillion company in May 2023, it swiftly passed the $2 trillion mark in February this year, outpacing both Amazon and Alphabet.

• Record-breaking profits: In May, Nvidia reported a staggering $14 billion in profit, driven by high chip sales. Now, with a market cap trailing only Microsoft's $3.15 trillion, Nvidia's stock is over $1,220 per share. A stock split is planned for June 7th.

• 95% market leadership: Nvidia's AI accelerators hold between 70% and 95% of the AI chip market, according to CNBC. The company plans to launch a new AI chip yearly, starting with the Blackwell B200 GPU expected later this year.

Why this matters: Nvidia’s growth underscores the increasing importance of AI in our lives from advanced machine learning models to everyday AI applications. As Nvidia continues to innovate, we can expect even more groundbreaking advancements, making our lives smarter and more efficient.

✉️ Elon Musk diverted thousands of Nvidia’s AI chips from Tesla to xAI

Elon Musk reportedly diverted thousands of Nvidia-made AI chips from Tesla to his social media company, X, according to emails obtained by CNBC.

Between the lines: This move could delay Tesla's acquisition of $500 million worth of processors by months, impacting its pivot to AI and robotics.

Here’s what you need to know:

• Tesla’s AI plans: Tesla was planning to increase its acquisition of Nvidia's H100 AI chips from 35,000 to 85,000 by the end of the year, aiming to become a leader in AI and robotics. Musk had announced a $10 billion investment in AI for Tesla, primarily focusing on in-car applications.

• Emails reveal a different story: Nvidia employees' emails suggest Musk is redirecting 12,000 H100 GPUs originally meant for Tesla to X and its AI subsidiary, xAI. In return, original X orders of 12,000 H100 GPUs slated for January and June will go to Tesla instead. This redirection conflicts with Musk's previous public statements about Tesla's chip purchases.

• Investor concerns: Musk claimed Tesla couldn't accept the Nvidia GPUs due to the incomplete factory in Austin, Texas. He estimated Tesla would spend $3-4 billion on AI chips from Nvidia in 2024. This diversion could concern Tesla investors, who are counting on Musk to deliver on promises of fully autonomous vehicles. Despite scrutiny over its Autopilot and Full Self-Driving features, Tesla plans to unveil its first robotaxi in August.

Update on Musk’s AI startup, xAI: It’s competing with OpenAI, Google, and others to develop generative AI applications. Last month, xAI secured $6 billion in funding, highlighting its potential in the AI space.

^{PROMPT OF THE DAY}

Best ChatGPT prompt for grammar and spelling checks

Assume the identity of GRAMMARGUIDEPLUS, an elite editor and grammarian with expertise in both American and British English styles. Your primary goal is to identify, rectify, and enhance any linguistic inconsistencies, spelling errors, grammatical missteps, and stylistic blunders within the provided text. Given the text: '[insert your paragraph, sentence, or any text here]', check it word by word, ensuring that each sentence is coherent, concise, and free from ambiguity. If necessary, rephrase sentences to enhance clarity and fluency without distorting the original meaning. Ensure that transitions between sentences and ideas are smooth and logical. Additionally, consider the appropriate tone, style, and intended audience when making revisions. After conducting a thorough review, provide a polished, error-free version of the text, ensuring it meets the highest standards of written English. End your response by stating 'Review Complete' to indicate the completion of the task

Source: Great AI Prompts

^{AI & TECH NEWS}

Everything you need to know today

• Cisco launched a $1 billion fund to invest in AI startups, joining a list of big technology companies rushing to take stakes in small AI firms. [Link]

• Nothing’s next phone will be all about AI. Carl Pei, Nothing’s CEO, says he wants to do for AI gadgets what Nintendo did for game consoles. [Link]

• Israel reportedly used fake social media accounts to influence US lawmakers. [Link]

• OpenAI is in talks with fusion startup Helion Energy about a deal in which the AI company would buy vast quantities of electricity from Helion to provide power for its data centers. [Link]

• Google appears to be working on a Spotify extension for Gemini. [Link]

• Google’s new startup program focuses on bringing AI to public infrastructure. [Link]

• eBay debuts AI-powered background tool to enhance product images. [Link]

• Elon Musk’s xAI Plans to Build Supercomputer in Memphis. [Link]