Nvidia's market capitalization of $1.18 trillion surpassed the entire crypto market's value of $1.09 trillion this week. The chipmaker's stock hit an all-time high of $502 after reporting $6.2 billion in net profit on $13.5 billion in total revenue for its second fiscal quarter. <br>

The British Prime Minister, Rishi Sunak, is investing $130 million to purchase computer chips for artificial intelligence, as part of his plan to make the UK an AI tech hub. The government is sourcing chips from NVIDIA, Intel, and AMD, and is in the process of ordering 5,000 NVIDIA graphic processing units.

on August 12th, according to official sources, AIWORLD has reached a strategic cooperation agreement with NVIDIA. Through cooperation with NVIDIA, AIWORLD can provide customers with better cluster services in small and medium-sized AI training and service model businesses. The cluster is supported by newer GPUs on the market and is connected through a low-latency RDMA over Converged Ethernet (RoCE) network. This solution provides a high-performance and cost-effective method for AI model training, which can effectively help developers reduce early development costs and make AI training and deployment more flexible and efficient.

Nvidia has created a new AI image generation technique called "Perfusion" that allows for personalized text-to-image models with reduced storage requirements. By making small updates to the internal representations of a text-to-image model, Perfusion enables minor, parameterized edits to the cross-attention layers to modify how text inputs get translated into images. This method allows for personalization of AI models using only 100KB per concept, making it possible to deploy highly customized AI art models. The authors plan to release the code for Perfusion publicly in the future, despite some limitations.&nbsp;

Nvidia, Apple, Adobe, Autodesk, and Pixar Animation Studios have joined forces to establish the Alliance for OpenUSD, which aims to promote the development of 3D graphics standards in the metaverse. OpenUSD is an open data format created by Pixar that allows graphic artists to collaborate on large-scale 3D animation projects. The Alliance for OpenUSD will work with the Joint Development Foundation to standardize the technology. Apple has recently launched the Vision Pro AR/VR headset and partnered with Disney to bring fans closer to their favorite characters in film and TV.

CoreWeave, a cloud startup specializing in GPU-accelerated workloads, is set to make billions off the generative AI boom with its GPU cloud. The company has received over $400 million in funding, built a $1.6 billion data center in Texas, and partnered with Nvidia to create the world's fastest AI supercomputer. CoreWeave originally started as an Ethereum mining company but pivoted to offering GPU acceleration at scale. The company saw a surge in interest when access to GPUs became scarce last year, leading to significant investments from venture capitalists and companies like Microsoft. CoreWeave expects to generate $500 million in revenue this year and already has nearly $2 billion contracted for next year. The company has also benefited from Nvidia diverting its latest AI server chips away from top cloud providers like AWS and towards CoreWeave. Despite competition developing their own AI chips, CoreWeave believes GPUs will remain crucial for cutting-edge AI models for at least another two years.

Two teenagers from the UK are facing charges for allegedly hacking into Nvidia, Grand Theft Auto, Revolut, and Uber. The hackers were tracked down through their IP addresses and online activities.

June 29 (Cointime) - Inflection AI, a Palo Alto-based startup founded by Mustafa Suleyman and Reed Hoffman, has raised $1.3 billion in a funding round led by Microsoft and Nvidia, bringing its valuation to $4 billion.

June 15 (Cointime) - Several billionaire investors, including Stanley Druckenmiller and Dawn Fitzpatrick, are optimistic about the transformative power of artificial intelligence (AI). Druckenmiller has compared the impact of AI to that of the internet revolution and remains confident in AI-related firms like Nvidia, despite concerns about overvaluation.

Microsoft has agreed to potentially spend billions of dollars over multiple years on cloud computing infrastructure from startup CoreWeave, according to sources.