Global Microsoft Blue Screen: The Culprit and Aftermath
On July 19, Microsoft suffered a significant worldwide service outage affecting industries from aviation to healthcare. The disruption stemmed from a problematic update by CrowdStrike. Founded in 2011, CrowdStrike specializes in AI and machine learning to combat cybersecurity threats. The consequence? CrowdStrike’s stock plummeted by 11%, wiping out over $92 billion in market value.
Wall Street Shake-Up: The Fall of the ‘Big Seven’
After 18 months of consistent gains, the tech giants collectively termed as the ‘Big Seven’ saw their market value shrink by a staggering $839.9 billion this week. NVIDIA notably suffered the most, igniting concerns about the tech stock market potentially reaching its peak.
Paris Olympics: A Financial Gamble?
The upcoming Paris Olympics, set to commence on July 26, faces scrutiny over its projected cost of $8.2 billion, making it the sixth most expensive Olympics in history. Historical trends indicate a tendency for Olympic budgets to exceed initial estimates, raising questions about the event’s financial viability.
Political Turmoil: Calls for Biden to Step Down
In a dramatic turn of events, 32 Democratic Congress members have called for President Biden to withdraw his re-election bid. Despite mounting pressure, Biden remains resolute, asserting his intention to continue his campaign.
OpenAI’s Ambitions: Rivaling NVIDIA?
Reports suggest that OpenAI is in talks with Broadcom and other chip designers to develop its own AI chips. This move aims to reduce reliance on NVIDIA’s GPUs and is a part of CEO Sam Altman’s broader vision to establish a global semiconductor infrastructure.
META’s Financial Recalibration
As Meta shifts focus towards AI, it is reportedly cutting funds for its VR, AR, and metaverse division, Reality Labs. The division has already faced significant financial losses, exceeding $55 billion since 2019.
NVIDIA & Pfizer Team Up for AI in Healthcare
NVIDIA has joined forces with Pfizer and other investors to pour $80 million into CytoReason, a company specializing in AI-driven therapeutic models. This investment underscores NVIDIA’s commitment to pioneering AI in the medical field.
