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AI Weekly: Musk startup generates $6 billion in fresh funding

STORY: From a successful funding round for an Elon Musk startup, to U.S. lawmakers seeking to curb exports of artificial intelligence systems, this is AI Weekly.

:: AI Weekly

xAI raised $6 billion in series B financing to reach a valuation of $24 billion, as investors bet big on challengers to companies like OpenAI...

which Elon Musk cofounded and later quit.

xAI says the funding will help the development of future technologies, including a reported supercomputer.

:: Nvidia

Nvidia's strong quarterly revenue forecast and stock split have lifted its shares to record-high territory.

The chipmaker's value has tripled in the past year on AI optimism.

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Nvidia has more than 80% of the market share for AI chips, with analysts like Greg Halter from Carnegie Investment Counsel expecting it to maintain its grip.

"From all indications, and their ability to charge $40,000 per chip, they do have something here that the others don't. AMD's trying to catch up, Intel's trying to catch up. Nvidia's leading the pack right now and maybe it's the first mover advantage."

:: Amazon

Amazon will introduce a more conversational AI-powered version of Alexa later this year, according to a CNBC report.

It suggested the e-commerce giant plans to charge a monthly subscription fee for the voice assistant to offset technology costs.

Amazon declined to comment.

:: Ferrari VNR

Michael Schumacher's family has secured around $216,000 in compensation over an AI-generated magazine 'interview'.

The seven-time Formula One world champion suffered a serious brain injury in the French Alps in 2013.

An April 2023 edition of Die Aktuelle magazine ran fake 'quotes' created using AI.

Finally, U.S. lawmakers have backed a bill that would make it easier to restrict the export of AI systems.

The House Foreign Affairs Committee cited concerns that China could exploit AI models to bolster its military, posing a potential risk to U.S. national security.