TSMC Revenue Soars 16.5% Amid AI Demand; Google, OpenAI, and Reddit Unveil Major AI Updates

May 19, 2024
TSMC Revenue Soars 16.5% Amid AI Demand; Google, OpenAI, and Reddit Unveil Major AI Updates
  • Taiwan Semiconductor Manufacturing (TSMC) reported a 16.5% revenue increase in Q1, reaching $18.9 billion, driven by the demand for AI technology.

  • Google unveiled its Gemini AI model at the I/O event, showcasing its multi-modal capabilities.

  • OpenAI's ChatGPT now allows data import from Google Drive and OneDrive through a partnership with Reddit for real-time and structured data integration.

  • Reddit's stock (RDDT.US) surged over 12% after announcing a partnership with OpenAI and Microsoft to integrate AI models into its content.

  • Google introduced 'AI Overviews' in US search results, generating summaries in response to queries, sparking concerns over accuracy and reliability.

  • The stock market faced pressure from rising bond yields and the dollar, with GameStop's shares (GME.US) dropping 30% and Cracker Barrel Old Country Store (CBRL.US) falling 12.60% due to disappointing results and dividend cuts for restaurant renovations.

  • Investors are advised caution in the volatile market conditions.

  • Google has introduced its new AI model Gemini 1.5 Flash, a lighter and more efficient version of its predecessor Gemini 1.5 Pro.

  • OpenAI has announced an update to enhance the data analysis capabilities of ChatGPT, allowing users to directly upload files from Google Drive and Microsoft OneDrive.

  • OpenAI has introduced its latest generative AI model, GPT-4o, in the free version of ChatGPT alongside the current model GPT-3.5, offering native support for text, audio, and image inputs with a fast response time of 232 milliseconds.

Summary based on 140 sources


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