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Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly:
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NO GPU DESIGNS TO CHINA: Nvidia (NVDA) says it isn’t sending GPU plans to China following a report that the AI chipmaker is working on a research and development center in Shanghai, CNBC’s Samantha Subin reports. The Financial Times had previously reported that Nvidia is looking to build a research and development center in Shanghai that would help the company stay competitive in China. “We are not sending any GPU designs to China to be modified to comply with export controls,” a spokesperson said in a statement to CNBC.
AI-RELATED PATENTS: Google (GOOGL) has surpassed IBM (IBM) to become the leader in generative AI-related patents and also leads in the emerging area of agentic AI, according to data from IFI Claims shared with Axios, Ina Fried reports. In U.S. rankings for generative AI, Google and Microsoft (MSFT) topped the list of U.S. patent applications, overtaking IBM, the previous leader.
REVOLVING CREDIT LINE: Earlier this week, Anthropic received a $2.5B, five-year revolving credit line to amp up its liquidity in an ever-expanding — and expensive — competition in the artificial intelligence industry, CNBC’s Hayden Field reports. Anthropic, founded by former OpenAI research executives, launched its Claude chatbot in March 2023. The company closed its latest funding round in March at a $61.5B valuation, and the new credit facility adds to that, the author notes. The generative AI market is poised to top $1 trillion in revenue within a decade. Companies from Google (GOOGL) and Amazon (AMZN) to Anthropic and Perplexity are racing to announce new products and features, especially as the race to build “AI agents” intensifies. OpenAI announced similar news in October, when CNBC reported it had received a $4B revolving line of credit.
OPEN FOR TRADING: Arrive AI (ARAI) opens for trading at $40 following direct listing. The direct listing of Arrive AI has officially opened for trading at $40.00 per share, Nasdaq announced. Arrive AI describes itself as “an autonomous delivery network anchored by patented AI-powered Arrive Points.”
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