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Blinklab Signs Partnership for Clinical Trial with European INTER-PSY, Supporting US and EU Regulatory Approval and Future Market Adoption
Partnership with INTER-PSY to run a prospective clinical trial on early-diagnosis of autism.
BlinkLab Limited (ASX:BB1) (“BlinkLab” or the “Company”), an innovative digital healthcare company developing smartphone-based AI powered sensory assessments to aid in the diagnosis of neurodevelopmental conditions including autism and ADHD, is pleased to announce a research and clinical partnership with the INTER-PSY (“Agreement”) in the Netherlands (https://interpsy.interpsygroep.nl/).
Highlights
- Prospective clinical data in young children with autism will optimise BlinkLab’s experimental and AI algorithms.
- Partnership will accelerate BlinkLab’s path to US and European regulatory approval for autism and clinical adoption.
- Partnership will support adoption of BlinkLab as a diagnostic tool within the autism diagnostic community in Europe.
- As part of the larger SCANNER consortium in Europe, this study will also specifically address a need for accelerated autism diagnosis in females.
- Commencement of FDA 510(k) registration trial on track for later this year.
As part of the Agreement, INTER-PSY will run a prospective study on the ability of the BlinkLab app to aid in diagnosis of autism in children between 2-6 years of age that are referred to INTER-PSY. By analysing the behavioural and physiological responses collected via the app, BlinkLab will aim to identify autism characteristics, potentially offering patients a more rapid, accessible and objective assessment method.
Through this partnership, INTER-PSY will use BlinkLab’s technology to evaluate whether the technology can enhance their diagnostic accuracy and efficiency in the clinic. This partnership between BlinkLab and INTER-PSY demonstrates the potential of an AI mobile health platform to improve and accelerate mental health diagnostics.
INTER-PSY Study and Preparations for FDA 510(k) Regulatory Trial
The INTER-PSY study, which mirrors the design of the upcoming FDA regulatory trial, will be conducted as a single-site, prospective, double-blind, within-subject comparison study (pre- registered). Data gathered from this collaboration will be pivotal in refining the final experimental parameters and optimising machine learning algorithms for BlinkLab’s 510(k) FDA registrational study, specifically targeting diagnostic applications. INTER-PSY is a large autism expertise centre in the Netherlands, offering diagnostics, guidance, and treatment for young children, adolescents, adults, and the elderly with psychological and psychiatric complaints.
Els Blijd-Hogewys, INTER-PSY, commented:
“INTER-PSY is committed to supporting young children with autism in an efficient and effective manner. Our goal is to implement a ‘no waiting time policy’ between diagnosis and the start of therapy, working collaboratively with clients to help them take control of their lives and minimise the impact of autism on daily tasks. Integrating objective measurements can help in the diagnostic process, offering significant benefits to children, their families, and our providers. We believe that BlinkLab's innovative AI platform presents a promising solution for sensory assessments in autism, delivering a short, pleasant and child-friendly test experience. Research will be conducted at INTER-PSY's Expertise Team for Young Children (<6 years). In the future, the instrument could also be valuable for adults with autism.
Unfortunately, the waiting lists for autism assessment for adults in the Netherlands are often as long as 2 to 3 years. Such an instrument may help accelerate this process.”
Mr. Brian Leedman, Chairman BlinkLab, commented:
“Australia has comparable wait times for diagnosis of autism as experienced in Europe and the US. Our BlinkLab technology has the potential to significantly reduce wait times through early diagnosis resulting in treatment at a formative age where early intervention can lead to better outcomes for children and their caregivers.”
Dr. Henk-Jan Boele, CEO BlinkLab, commented:
“Our collaboration with INTER-PSY is one of the final steps in the prospective validation of BlinkLab’s platform before we commence our FDA registration trial later this year. I’m deeply appreciative of INTER-PSY’s partnership on this critical journey. As part of the large SCANNER consortium in Europe, this study with INTER-PSY will also specifically address autism diagnosis in females. Our BlinkLab team is in the final phase of fine-tuning our AI models and algorithms to ensure they meet the highest standards of accuracy, safety, and efficiency. We remain fully committed to executing our strategy and delivering long-term value to all our stakeholders.”
About the SCANNER Consortium
The SCANNER Consortium in Europe, of which BlinkLab is a member, was recently awarded with a 5.3M Euros grant from the Dutch Research Council. The mission of this consortium is to investigate sex differences in autism at a gene, brain and behaviour level. Autism is diagnosed four times more often in men than in women (Autism Spectrum Disorder, APA, 2013). However, little is known about the biological mechanisms behind this disparity, or to what extent this overrepresentation in males is due to bias in the medical research that is also present during the diagnostic process.
Historically, female participants have often been excluded from medical studies, resulting in data being collected primarily from men and generalised to women (Merone et al., 2022).
Similar biases are present in basic research, where men are overrepresented due to the lack of the estrus cycle, resulting in a large gap in our basic biological and clinical knowledge.
This translates into real-life disadvantages for women with neurodivergent conditions, as doctors often ignore the behaviours presented by women. This means that women are less likely to be referred for diagnostic tests and receive timely support, with long-lasting negative consequences for their quality of life. It is therefore crucial to involve women at all levels of research.
Dr. Aleksandra Badura, Lead Investigator SCANNER, commented:
“Within SCANNER we aim to understand how genetic, neurophysiological and behavioural sex differences contribute to autistic traits, and distinguish these biological factors from possible diagnostic bias. Our long-term goal is to improve the diagnostic process for autism and other neurodivergent disorders by taking sex differences into account at all levels of research and diagnosis.”
In addition to INTER-PSY, BlinkLab collaborates in the SCANNER Consortium with Vrije Universiteit Amsterdam; Karakter - Academic Center for Child and Adolescent Psychiatry; Radboud University; Medical Center, Radboud University; Universiteit Utrecht; HAS green academy; Erasmus MC; Netherlands Institute for Neuroscience; Nivel – Netherlands Institute for Health Services Research; University of Twente; Philips Medical Systems Nederland B.V. (Philips MR); Nederlandse Vereniging voor Autisme; Arivis, Noldus Information Technology; Sophia Foundation; WOMEN Inc.; Female Autism Network of the Netherlands; Netherlands Autism Register; Generation R; National association of general practice mental health professionals; Alliantie Gender & Gezondheid; National network autism in young children; National network of child and adolescent psychiatry; Special Olympics Netherlands.
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This article includes content from Blinklab Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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BlinkLab Limited
Overview
BlinkLab (ASX:BB1) offers a smartphone-based diagnostic platform that leverages computer vision, artificial intelligence and machine learning. A company started by neuroscientists at Princeton University, Blinklab has developed the technology over the last several years providing an app-enabled, smartphone-based diagnostic tool for evaluating children with neurodevelopmental conditions such as autism and ADHD.
The app turns the mobile phone into a medical device for an effortless way of conducting remote and rapid tests.
BlinkLab’s smartphone-based technology, which uses AI and machine learning (ML), makes it attractive to investors. Like other industries, AI is becoming very popular in the healthcare sector. According to Statista, the AI healthcare market is expected to proliferate from $11 billion in 2021 to $187 billion in 2030. The increasing use of AI is driven by advanced ML algorithms, access to data, and use of 5G technology. AI and ML technologies can evaluate and analyze enormous volumes of data faster than humans.
Artificial intelligence, and particularly machine learning, has the potential to serve as the great equalizer for many behavioural healthcare concerns like autism. According to recent data, 97 percent of adults in the United States own a cellular device, and 85 percent own a smartphone. In emerging economies such as Mexico, South Africa, India, Philippines, etc., most adults have access to a mobile phone of some kind, with 53 percent having access to a phone that can connect to the internet and run apps (a smartphone). As these percentages continue to rise and internet-powered devices become ubiquitous, access to digital services can become democratised on a global scale. While autism spectrum disorder (ASD) services are currently restricted to relatively privileged populations, digital solutions powered by emerging data science methodologies can make access to autism therapy universal.
Large players are investing in this segment to tap into the vast potential of these new technologies. One such example was Pfizer’s acquisition of ResApp. In October 2022, Pfizer acquired Queensland University startup ResApp Health for $179 million. ResApp developed a smartphone technology to detect respiratory diseases using cough analysis accurately. Furthermore, big tech companies such as Apple, Amazon, Microsoft and Alphabet are also now venturing into the AI healthcare market.
Company Highlights
- Australia-based BlinkLab is focused on transforming mental healthcare through an AI-enabled smartphone application, a breakthrough technology developed at Princeton University.
- The company’s innovative approach leverages the power of smartphones, AI and machine learning to deliver screening tests specifically designed for children as young as 18 months old. This marks a significant advancement, considering traditional diagnoses typically occur around five years of age, often missing the crucial early window for effective intervention.
- Once approved by the regulators, this cutting-edge digital technology is poised to capture the imagination of both investors and major pharmaceutical companies, eager to embrace transformative solutions in healthcare.
- BlinkLab is led by an experienced management team and leading experts in the field of machine learning, autism and brain development bridging the most advanced technological innovations with groundbreaking scientific research. The company is chaired by Brian Leedman, an experienced biotechnology entrepreneur and founder of ResApp Health, a digital diagnostic company recently acquired by Pfizer.
Key Technology and Applications
Neurobehavioral assays of brain function can reveal fundamental mechanisms underlying neuropsychiatric conditions, but typically require centrally located equipment in a laboratory test facility. Consequently, these tests are often unpleasant for participants as they require instruments attached to their face and cannot be used at scale in daily clinical practice, particularly with paediatric patients.
BlinkLab has developed a smartphone-based software platform, known as ‘BlinkLab Test, to perform neurobehavioural testing free from facial instruments or other fixed location equipment. This AI-based platform is designed to be used at home or in similar environments, independently or with the assistance of a caregiver, while following instructions from the mobile-device application. The tests include, but are not limited to, eyeblink conditioning (EBC), a form of sensory-motor associative learning, prepulse inhibition of the acoustic startle response (PPI), which measures the ability to filter out irrelevant information through sensorimotor gating, startle habituation, which measures the ability for the intrinsic damping of repetitive stimuli and sensory adaptation, and habituation of eye blink response, which serve as biomarkers for neurological and psychiatric disorders.
The BlinkLab App combines a smartphone’s ability to deliver stimuli and acquire data using computer vision with a secure cloud-based portal for data storage and analysis. In the experiments, each audio and/or visual stimulus is presented with millisecond-precise control over parameters such as timing, amplitude and frequency. To maintain participant attention, an entertaining movie of choice is shown with normalized audio levels. Participants’ responses are measured by the smartphone’s camera and microphone, and are processed in real time using state-of-the art computer vision techniques, fully anonymized, and transferred securely to the analysis portal. There, BlinkLab’s in-house AI/machine learning algorithms then perform clustering and statistical analysis to identify the prediction value of the experiment in the particular data set.
BlinkLab Test is initially developed as a prescription diagnostic aid to healthcare professionals (HCP) considering the diagnosis of ASD in patients 18 months through 72 months of age at risk for developmental delay. In collaboration with Princeton University in the US and Erasmus Medical Center in the Netherlands, the company has conducted several trials using BlinkLab test as an early assessment tool for autism. Autism represents a global challenge, with 1 in 44 children identified with ASD. With no early tests currently available to detect the condition, the majority of children are diagnosed with the condition as late as age five. Blinklab’s mobile app can aid in early detection. The child can watch their favourite movie or cartoon on the phone, and while they watch, the app will record their reactions, providing key information on the functioning of the brain. BlinkLab tests can help with early diagnosis of autism as early as age one-and-a-half, leading to timely intervention that can make a significant impact on the child’s development.
BlinkLab will be subject to regulatory oversight as a medical device and must clear clinical studies. Previous clinical trials done by Blinklab have shown an impressive success rate, achieving sensitivity of 85 percent and specificity of 84 percent. The company notes these trials are very similar to those required by US FDA and have shown a much higher accuracy compared to currently approved products.
In order for the BlinkLab Device to be used as a clinical aid in the diagnosis of ASD, BlinkLab will need to complete a pivotal registrational study and subsequently apply for FDA registration and reimbursement for the tests. The registrational study intends to recruit up to 500 subjects. Enrolments for this study will start during the second half of 2024, with study completion expected by mid-2025. The potential to participate in a disruptive and scalable AI-powered technology close to regulatory approval should attract attention from big medical technology companies.
BlinkLab is led by an experienced management team and directors with a proven track record in building companies and vast knowledge in digital healthcare, computer vision, AI and machine learning. The company’s chairman, Brian Leedman, is an experienced biotechnology entrepreneur and founder of ResApp Health, a digital diagnostic company for respiratory conditions, which was recently acquired by Pfizer for $179 million before reaching FDA approval for their main diagnostic product.
Key Management People
Dr. Henk-Jan Boele – Founder and Chief Executive Officer
Henk-Jan Boele is an assistant professor of neuroscience at the Medical Center of Erasmus University and a researcher at Princeton University. He obtained his PhD from Erasmus University in 2014. Boele has always been pushing scientific and methodological boundaries and received numerous government and industry grants in the field of neuroscience.
Peter Boele – Founder and Chief Technology Officer
Peter Boele holds a bachelor’s degree in history and philosophy from Leiden University. He has over 20 years of experience in software development and has worked with Erasmus University, Leaseweb, Kaboom Informatics and Insocial.
Dr. Anton Uvarov – Founder and Chief Operational Officer
Anton Uvarov holds a Ph.D. from the University of Manitoba and an MBA from the Haskayne School of Business. He has rich experience in bio-technology investments with a particular focus on neuroscience and has successfully led several IPOs. He started his career as a biotechnology analyst with Citigroup, US.
Dr. Bas Koekkoek – Founder and Chief Scientific Officer
Bas Koekkoek is an assistant professor at Erasmus Medical Center. Koekkoek has been working at the Department of Neuroscience mainly in the role of rapid prototype of new technology and techniques for neuroscience. He has numerous publications in the area of brain development including Nature and Science journals.
Professor Sam Wang – Founder and Chair of Advisory Board
Sam Wang holds a PhD from Stanford University. He is a professor of neuroscience at Princeton University, has published over 100 articles on the brain in leading scientific journals and has received numerous awards. He gives public lectures on a regular basis and has been featured in The New York Times, The Wall Street Journal, NPR, and the Fox News Channel.
Professor Chris de Zeeuw – Founder and Scientific Advisor
Chris de Zeeuw is chairman of the Department of Neuroscience at Erasmus MC in Rotterdam and vice-director at the Netherlands Institute for Neuroscience in Amsterdam. De Zeeuw has received over 100 grants, including the Pioneer Award from ZonMw and the ERC advanced grant. In 2006, he received the Beatrix Award for Brain Research from Her Majesty the Queen; in 2014, he became an elected member of the Dutch Academy of Arts & Science; and in 2018, he received the international Casella Prize for Physiology.
This article was written in collaboration with Couloir Capital.
Ex-OpenAI Leader Raises US$1 Billion for Safety-focused AI Startup
Safe Superintelligence (SSI), a startup co-founded by former OpenAI Chief Scientist Ilya Sutskever, has secured US$1 billion in seed funding to develop advanced artificial intelligence (AI) systems focused on safety.
Reuters reported that the funding round, led by venture capital firms Andreessen Horowitz, Sequoia Capital, DST Global and SV Angel, has raised the value of the three month old company to an estimated US$5 billion.
The funds will be used to acquire computing power and recruit top engineering and research talent. Currently, SSI has 10 employees and operates out of offices in Palo Alto, California, and Tel Aviv, Israel.
SSI's mission is to create safe super-intelligent AI systems that won't cause harm to humans.
Aside from Sutskever, the fledgling company's leadership team includes Daniel Gross, former head of AI initiatives at Apple (NASDAQ:AAPL), and Daniel Levy, previously a researcher at OpenAI. Levy serves as principal scientist at SSI, while Gross handles fundraising and computing infrastructure.
Gross emphasized that the company’s singular focus on long-term AI safety will allow it to operate without the pressure of immediate profitability. "It's important for us to be surrounded by investors who understand, respect and support our mission, which is to make a straight shot to safe superintelligence and in particular to spend a couple of years doing R&D on our product before bringing it to market," he explained to Reuters on Wednesday (September 4).
Sutskever founded SSI after leaving OpenAI in May. He had played a key role in its alignment efforts, leading the "Superalignment" team that was tasked with ensuring AI systems remained in line with human values.
He left after internal disagreements at OpenAI that saw CEO Sam Altman ousted and quickly reinstated. After Sutskever and fellow team leader Jan Leike’s exit, OpenAI disbanded the Superalignment team.
Despite a slowdown in AI investment due to concerns about long-term profitability, SSI’s successful funding round underscores the continued willingness of some investors to back projects led by well-known technologists.
One of SSI's priorities is to hire a small, highly trusted team of engineers and researchers. Gross said the hiring process focuses not just on technical ability, but also on character and alignment with the company’s culture.
In addition to securing top talent, SSI expects to eventually secure partnerships with cloud service providers and chip manufacturers to address its computing needs. While the company has not yet provided specifics, major tech players like Microsoft (NASDAQ:MSFT) and NVIDIA (NASDAQ:NVDA) have historically supported AI infrastructure for similar ventures, providing the computing power necessary for large-scale AI development.
OpenAI is also in the midst of raising billions of dollars in a new funding round, with major investors such as Microsoft, NVIDIA and Apple reportedly in talks to invest in the AI giant.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
How to Invest in OpenAI's ChatGPT (Updated 2024)
OpenAI’s ChatGPT is one of the latest technological breakthroughs in the artificial intelligence space. But what is ChatGPT, and can you invest in OpenAI? Read on to learn about its history — including its controversies — how to get investment exposure to OpenAI and other stocks you can buy in the generative AI space.
This emerging technology is representative of a niche subsector of the AI industry known as generative AI — systems that can generate text, images or sounds in response to prompts given by users.
Precedence Research expects the global AI market to grow at a compound annual growth rate (CAGR) of 19 percent to reach US$2.57 trillion by 2032. Just how much of an impact OpenAI’s ChatGPT will have on this space is hard to predict, but S&P Global suggested in December 2023 that the total market revenue of generative AI as a whole will see a CAGR of 57.9 percent through 2028, increasing from US$3.7 billion last year to US$36.36 billion in 2028.
“With the launch of ChatGPT late in 2022, the true scale of its disruptive potential was more realized across the world in 2023,” said Naseem Husain, senior vice president and exchange-traded fund (ETF) strategist at Horizons ETFs. “Its success has sparked a wave of generative and chat AI models, from Midjourney to Grok.”
Of course, OpenAI has also generated a lot of controversy, such as fears over job destruction and targeted disinformation campaigns. And let’s not forget the odd and abrupt, however brief, ousting of OpenAI CEO Sam Altman.
Many lawsuits have emerged as well. Multiple news outlets, including the the New York Times, have launched copyright lawsuits against OpenAI, and some of the plaintiffs are also seeking damages from the private tech firm’s very public partner Microsoft (NASDAQ:MSFT).
Additionally, the Authors Guild, which represents a group of prominent authors, launched a class-action lawsuit against OpenAI that is calling for a licensing system that would allow authors to opt out of having their books used to train AI, and would require AI companies to pay for the material they do use.
None of the controversy has curbed enthusiasm for investing in OpenAI, which, as of August 29, is reportedly on the verge of launching a new round of funding projected to bring its valuation to more than US$100 billion. Tech giants Apple (NASDAQ:AAPL) and NVIDIA (NASDAQ:NVDA) are rumored to want in on the round, as is its partner Microsoft.
With all of that said, there's still a lot of excitement surrounding generative AI technology. Many investors are wondering if it's possible to invest in ChatGPT stock, and if there are other ways to invest in generative AI. Here the Investing News Network (INN) answers those questions and more, shedding light on this new landscape.
What is OpenAI's ChatGPT?
Created by San Francisco-based tech lab OpenAI, ChatGPT is a generative AI software application that uses a machine learning technique called reinforcement learning from human feedback (RLHF) to emulate human-written conversations based on a large range of user prompts. This kind of software is better known as an AI chatbot.
ChatGPT learns language by training on texts gleaned from across the internet, including online encyclopedias, books, academic journals, news sites and blogs. Based on this training, the AI chatbot generates text by making predictions about which words (or tokens) can be strung together to produce the most suitable response.
More than a million people engaged with ChatGPT within the first week of its launch for free public testing on November 30, 2022. Many were in awe of the chatbot’s seemingly natural language capabilities, not only in terms of understanding questions, but also because of its human-like responses. Users felt as if they were having a conversation with a human.
Besides being an excellent conversation partner, ChatGPT can write engaging short stories, develop catchy marketing materials, solve complicated math problems, and even create code in various programming languages.
Based on this success, OpenAI created a more powerful version of the ChatGPT system called GPT-4, which was released in March 2023. This iteration of ChatGPT can accept visual inputs, is much more precise and can display a higher level of expertise in various subjects. Because of this, GPT-4 can describe images in vivid detail and ace standardized tests.
Unlike its predecessor, GPT-4 doesn't have any time limits on what information it can access; however, AI researcher and professor Dr. Oren Etzioni has said that the chatbot is still terrible at discussing the future and generating new ideas. It also hasn't lost its tendency to deliver incorrect information with too high a degree of confidence.
Further improving on its product, in May 2024 OpenAI launched Chat GPT-4o, with the o standing for omni. OpenAI describes GPT-4o as "a step towards much more natural human-computer interaction—it accepts as input any combination of text, audio, image, and video and generates any combination of text, audio, and image outputs."
This version has done away with the lagging response time afflicting GPT-4. This proves especially helpful for producing immediate translations during conversations between speakers of different languages. It also allows users to interrupt the chatbot to pose a new query to modify responses.
Why is Microsoft investing in OpenAI?
Ascannio / Shutterstock
Since 2019, Microsoft has invested at least US$3 billion in OpenAI to help the small tech firm create its ultra-powerful AI chatbot, as reported by New York Times technology correspondents Cade Metz and Karen Weise.
Microsoft announced in mid-January 2023 that as part of the third phase of its partnership with OpenAI, it will make "a multiyear, multibillion dollar investment." Although the company hasn't disclosed the total amount of its latest spend, reports at the time indicated that US$10 billion is on the table.
According to a February article from Reuters, OpenAI was valued at US$80 billion, meaning Microsoft's US$10 billion move would be huge. However, as of late 2023 there were rumors that OpenAI has only received a fraction of that purported investment.
As mentioned in the intro, Microsoft is reported to be interested in participating in OpenAI's rumored upcoming funding round as well.
How could Microsoft benefit from its investment? It seems the tech giant is hopeful advancements in generative AI may increase revenues for its Azure cloud computing business, as OpenAI officially licensed its technologies to Microsoft in 2020. Indeed, Pitchbook has described the deal as an “unprecedented milestone” for generative AI technology.
The strength of Microsoft’s confidence in OpenAI’s Altman was definitely on display in late November, when it quickly moved him to the payroll of its advanced AI research team after he was fired from OpenAI. Barely a week passed before Altman was back at the helm of OpenAI with major board changes, including the addition of Dee Templeton, Microsoft's vice president of technology and research partnerships and operations, as a non-voting observer.
What is Elon Musk's relationship to OpenAI?
DIA TV / Shutterstock
OpenAI was founded in 2015 by Altman, its current CEO, as well as Tesla's (NASDAQ:TSLA) Elon Musk and other big-name investors, such as venture capitalist Peter Thiel and LinkedIn co-founder Reid Hoffman. Musk left his position on OpenAI's board of directors in 2018 to focus on Tesla and its pursuit of autonomous vehicle technology.
A few days after ChatGPT became available for public testing, Musk took to X, formerly known as Twitter, to say, “ChatGPT is scary good. We are not far from dangerously strong AI.” That same day, he announced that X had shut the door on OpenAI’s access to its database so it could no longer use it for RLHF training.
His reason: “OpenAI was started as open-source & non-profit. Neither are still true.”
Furthering his feud with OpenAI, Musk filed a lawsuit against the company in March 2024 for an alleged breach of contract. The crux of his complaint was that OpenAI has broken the "founding agreement" made between the founders (Altman, Greg Brockman and himself) that the company would remain a non-profit. Altman and OpenAI have denied there was such an agreement and that Musk was keen on an eventual for-profit structure.
Musk dropped the lawsuit three months later without giving a reason, reported Reuters. The day before he dropped the lawsuit, he reacted to the news that Apple is partnering with OpenAI to incorporate ChatGPT with Apple devices. On X, Musk declared, "If Apple integrates OpenAI at the OS (operating system)level, then Apple devices will be banned at my companies. That is an unacceptable security violation.” It should be noted that OpenAI has said queries completed on Apple devices will not be stored by OpenAI.
Is ChatGPT revolutionary or hype?
Is ChatGPT a revolutionary technology or just another hyped-up tech fad that will flop, much in the way of Google Glass or the Segway? It may be too early to tell, but as with any new technology, there are plenty of wrinkles to iron out.
One of the most challenging bugs to fix before ChatGPT can be deployed more widely is the chatbot’s propensity to respond with “plausible-sounding but incorrect or nonsensical answers," admits OpenAI.
Remember, its selection of which words to string together are actually predictions — not as fallible as mere guesses, but still fallible. Even the 4.0 version is “still is not fully reliable (it “hallucinates” facts and makes reasoning errors),” says the company, which emphasizes that users should exercise caution when employing the technology.
Indeed, ChatGPT's failings can have dangerous real-life consequences. Among other negative applications, the tech can be used to spread misinformation, carry out phishing email scams or write malicious code. What’s more, the AI-based technology is prone to racial and gender-based biases. Not only has this language learning model contributed to the human-like quality of its responses, but it has also picked up on some of humanity’s shortcomings.
“ChatGPT was trained on the collective writing of humans across the world, past and present. This means that the same biases that exist in the data, can also appear in the model,” explains Garling Wu, staff writer for online technology publication MUO, in a September 2023 article. “In fact, users have shown how ChatGPT can give produce some terrible answers, some, for example, that discriminate against women. But that's just the tip of the iceberg; it can produce answers that are extremely harmful to a range of minority groups.”
On the flip side, an August 2023 study by the University of East Anglia identified a left-wing bias in ChatGPT. Researchers at the school said their work shows that ChatGPT "favors Democrats in the U.S., the Labour Party in the U.K., and president Lula da Silva of the Workers’ Party in Brazil," according to Forbes.
There’s also the fear among teachers that the technology is leading to an unwelcome rise in academic dishonesty, with students using ChatGPT to write essays or complete their science homework.
“Teachers and school administrators have been scrambling to catch students using the tool to cheat, and they are fretting about the havoc ChatGPT could wreak on their lesson plans,” writes New York Times tech columnist Kevin Roose.
Cybersecurity risks are also a concern for ChatGPT users, and recent events along these lines add validity to Musk's warning. For one, ChatGPT for macOS was discovered to be breaching Apple's security rules by storing data as plain text rather than encryption, making it possible for other apps to access.
What's the future of OpenAI and ChatGPT?
The ChatGPT 3.5 platform is free to use, and can be accessed via the web. Those with an iPhone or iPad can also use ChatGPT through an app, and an Android version launched in July 2023. OpenAI also launched a paid subscription, ChatGPT Plus for business use, in August 2023. ChatGPT Plus gives users access to GPT-4, and the newest iteration GPT-4o.
In addition to Microsoft's use of the ChatGPT technology as part of Copilot, other companies are working with OpenAI to incorporate the technology into their platforms, including Canva, Duolingo (NASDAQ:DUOL), Intercom, Salesforce (NYSE:CRM), Scale, Stripe, and Upwork (NASDAQ:UPWK).
As uptake increases, generative AI technology is replacing humans in the workplace, and will likely continue doing so in a number of fields, from content creation and customer service to transcription and translation services, and even in graphic design and paralegal fields. However, humans are hitting back, as evidenced by recent lawsuits launched against OpenAI and Microsoft. As mentioned, a growing group of prominent authors is suing the creator of ChatGPT and its financial backer for infringing on their copyright by using their books without permission to train the language models behind ChatGPT and other AI-based software.
The New York Times has also taken a stand by taking OpenAI and Microsoft to Manhattan Federal Court.
"Defendants seek to free-ride on the Times's massive investment in its journalism by using it to build substitutive products without permission or payment," states the complaint. "There is nothing 'transformative' about using the Times's content without payment to create products that substitute for the Times and steal audiences away from it."
Scarlett Johansson has also entered the ChatGPT legal minefield after she discovered OpenAI using what she claims is her voice for its chatbot personal assistance voice, Sky. CEO Sam Altman, however, has denied using her voice without permission.
“The voice of Sky is not Scarlett Johansson's, and it was never intended to resemble hers. We cast the voice actor behind Sky’s voice before any outreach to Ms. Johansson,” Altman said in a May 20, 2024 statement. “Out of respect for Ms. Johansson, we have paused using Sky’s voice in our products. We are sorry to Ms. Johansson that we didn’t communicate better.”
What about the long-term goals for OpenAI and ChatGPT? Metz of the New York Times believes the end game is “artificial general intelligence, or AGI — a machine that can do anything the human brain can do.”
In keeping with this end goal, OpenAI made a major move by acquiring an AI creative firm with a deep talent bench, Global Illumination, in mid-August 2023. "Global Illumination is a company that has been leveraging AI to build creative tools, infrastructure, and digital experiences," states OpenAI on its website.
"The team previously designed and built products early on at Instagram and Facebook and have also made significant contributions at YouTube, Google, Pixar, Riot Games, and other notable companies."
In November 2023, OpenAI decided to give customers without coding skills the ability to create customized versions of its chatbot and access to large data sets for training. “OpenAI wants people to start innovating using the chatbots and creating special chatbots,” Hod Lipson, an engineering and data science professor at Columbia University, told CNBC.
Chatbot creators will eventually have the ability to share their custom chatbots through OpenAI’s GPT Store. “They’re really trying to create a marketplace, which will allow companies and people to innovate and play around with this incredible form of AI that they’ve just unleashed,” Lipson added.
What is Google's Gemini?
While ChatGPT has been generating major buzz, it's definitely not the only chatbot out there.
Notably, Alphabet (NASDAQ:GOOGL) subsidiary Google launched its answer to ChatGPT in March 2023. Originally known as Bard AI, the chatbot is built on Google’s Language Model for Dialogue Applications (or LaMDA). Google CEO Sundar Pichai has described Bard as an “experimental conversational AI service … (that) seeks to combine the breadth of the world’s knowledge with the power, intelligence and creativity of our large language models.”
As with ChatGPT, users can key in a query, request or prompt and it will provide a human-like response. One way in which Google's chatbot may have had a leg up on the original ChatGPT is that the latter could only use data up to 2021, while the former can access up-to-date information online; this is less relevant now that GPT-4 no longer has this limitation.
However, this ability to access current data hasn’t spared it from ChatGPT’s biggest folly: confidently stating misinformation as fact. The Verge reported that when asked about new discoveries from the James Webb Space Telescope, Google’s chatbot “made a factual error in its very first demo.”
In early in 2024, Google launched the latest iteration of its Bard Advanced AI chatbot with a new name, Gemini AI. The new version is powered by Google's Gemini Ultra large language model.
Which stocks will benefit the most from AI chatbot technology?
While most companies specializing in generative AI remain in the venture capital stage, there are plenty of AI stocks for those interested in the space. INN's article 5 Canadian Artificial Intelligence Stocks, ASX AI Stocks: 5 Biggest Companies, and 12 Generative AI Stocks to Watch as ChatGPT Soars includes some examples.
Other than companies directly tied to generative AI technology, which stocks are likely to get a boost from advances?
There are several verticals in the tech industry with indirect exposure to AI chatbot technology, such as semiconductors, network equipment providers, cloud providers, central processing unit manufacturers and internet of things.
Some of the publicly traded companies in these verticals include:
- Graphics processing unit leader Nvidia
- The world's largest semiconductor chip manufacturer by revenue, Taiwan Semiconductor Manufacturing Company (NYSE:TSM)
- Computer memory and data storage producer Micron Technology (NASDAQ:MU)
- Digital communications firm Cisco Systems (NASDAQ:CSCO)
- Networking products provider Juniper Networks (NYSE:JNPR)
- Semiconductor producer Marvell Technology Group (NASDAQ:MRVL)
- Cloud-computing Amazon Web Services' parent company Amazon (NASDAQ:AMZN)
- Bluechip multinational technology company IBM (NYSE:IBM)
- Major semiconductor chip manufacturer Intel (NASDAQ:INTC)
Investors who don’t like to put all their eggs in one basket can check out these 5 Artificial Intelligence ETFs. And if you’re looking for a more general overview of the market, INN has you covered with How to Invest in Artificial Intelligence. You can also take a look back at the market in 2023 with our AI Market 2023 Year-End Review, or read projections for AI this year in our AI Market Forecast: 3 Top Trends that will Affect AI in 2024. Generative AI is also a major theme in the Top 10 Emerging Technologies to Watch in 2024.
FAQs for investing in OpenAI and ChatGPT
When will OpenAI go public?
OpenAI stock is not currently publicly traded and as of early July 2024, there are no plans for an OpenAI IPO on the horizon. For now, investors can gain exposure through related tech companies discussed here.
For example, if Microsoft does take a large position in the company, investors will be able to gain indirect exposure to OpenAI by purchasing Microsoft shares. For those seeking direct exposure, be on the lookout for news of an initial public offering (IPO).
How is OpenAI funded?
OpenAI raised US$11.3 billion over six funding rounds from 2016 to January 2024.
The three top investors are technology investment firm Thrive Capital, venture capital firm Andreessen Horowitz and revolutionary technology investment firm Founders Fund.
As reported above, OpenAI may soon initiate a new round of funding worth a projected US$100 billion, with potential participation by Apple and NVIDIA.
What is the market value of ChatGPT/OpenAI?
OpenAI has a market valuation of US$80 billion as of February 2024. The company’s 2023 revenue had reached US$2 billion mark in December 2023 to join the ranks of Google and Meta (NASDAQ:META). OpenAi's annualized revenue reached US$3.4 billion in May 2024.
Does ChatGPT use Nvidia chips?
ChatGPT’s distributed computing infrastructure depends upon powerful servers with multiple graphics processing units (GPUs). High-performance Nvidia GPU chips are preferred for this application as they also provide excellent Compute Unified Device Architecture support.
Will ChatGPT cause another GPU shortage?
ChatGPT and generative AI will most likely not cause a GPU shortage. The type of GPUs used for machine learning models like ChatGPT are different from other types of GPUs, including those used to power gaming systems or crypto mining.
Can ChatGPT make stock predictions?
A University of Florida study recently highlighted the potential for advanced language models such as ChatGPT to accurately predict movements in the stock market using sentiment analysis.
During the course of the study, ChatGPT outperformed traditional sentiment analysis methods, and the finance professors conducting the research concluded that “incorporating advanced language models into the investment decision-making process can yield more accurate predictions and enhance the performance of quantitative trading strategies.”
When to expect ChatGPT 5?
OpenAI filed a trademark application for ChatGPT-5 in mid-July 2023, which hinted that the next iteration of the generative AI technology is currently under development. There were rumors the company planned to complete training for ChatGPT-5 by the end of 2023, but this did not materialize.
PC Guide noted in April 2024 that Sam Altman had teased an “amazing new model this year" in a March 2024 interview on the Lex Fridman podcast. More recently, tech writer Suswati Basu shared that OpenAI confirmed in a May 28 blog that a new model is in the works, and she predicts an expected release in late 2024 or early 2025.
This is an updated version of an article first published by the Investing News Network in 2023.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Tech 5: NVIDIA Shares Latest Results, OpenAI Seeks Billions in New Funding Round
Tech investors were eyeing results from major companies as the last week of August unfolded.
Meanwhile, Bitcoin and Ether prices experienced declines during the five day period, while Google's (NASDAQ:GOOGL) Gemini platform received a boost with the rollout of two new features.
OpenAI also made headlines — it's reportedly in discussions to launch a substantial funding round that could give it the distinction of being the highest-valued artificial intelligence (AI) startup to date.
Stay informed on the latest developments in the tech world with the Investing News Network's round-up.
1. Tech sector ends August with mixed performance
The final week of August was mixed for the tech sector as investors anticipated earnings reports from NVIDIA (NASDAQ:NVDA), Dell (NYSE:DELL) and Crowdstrike (NASDAQ:CRWD).
After a strong start, the Nasdaq Composite (INDEXNASDAQ:.IXIC) and S&P 500 (INDEXSP:.INX) fell short on Monday (August 26), with a chip stock selloff pulling the Nasdaq Composite down 0.63 percent from its opening value.
Losses extended into Tuesday (August 27), with both indexes opening marginally lower only to advance slightly in midday trading; they then reversed course to close 0.57 and 0.18 percent lower, respectively.
Super Micro Computer performance, August 26 to August 30, 2024.
Chart via Google Finance.
On Wednesday (August 28), the S&P 500 opened half a percent higher, while the Nasdaq Composite rose by over a full percentage point on hopes of another stellar performance from NVIDIA. The enthusiasm was short-lived, however, and an over 17 percent plunge in Super Micro Computer's (NASDAQ:SMCI) share price weighed on the index.
Super Micro announced early on Wednesday that it will delay filing the 10-K form for its 2024 fiscal year in order to “assess its internal controls over financial reporting." It lost 0.9 percent in the first two hours of trading and ultimately closed 1.23 percent below its opening value. Losses to tech stocks continued in after-hours trading.
Markets saw increases across the board on Thursday (August 29) after initial US jobless claims data revealed claims for last week were marginally lower than expected by market watchers. At the same time, the country's second quarter GDP growth was higher than expected. The S&P 500 saw little change throughout the day, while the Nasdaq Composite declined by as much as 0.73 percent to reach 17,482.6, largely due to a continuing drop in AI-related stocks.
Friday (August 39) brought the release of the latest personal consumption expenditures price index data out of the US. It shows that consumer spending increased in July, capping off the summer on a high note.
All indexes closed at near-record highs, with the Nasdaq-100 (INDEXNASDAQ:NDX) 1.29 percent higher, the S&P 500 advancing 1.01 percent and the Nasdaq Composite 1.13 percent above its opening value.
2. Bitcoin and Ether prices fall
Ether and Bitcoin prices began declining on Monday after maintaining gains from the previous week over the weekend; they opened at around US$2,700 and US$63,500, respectively. Losses mounted quickly for each, culminating in an 11.53 percent drop for Ether and an 8.68 percent drop for Bitcoin by Tuesday evening.
Experts have attributed these downtrends to profit taking following the weekend rally. After markets closed on Tuesday, Ether lost 6 percent of its value in a little over an hour. Bitcoin saw a 6.17 percent loss in the same period.
Bitcoin had recovered slightly by Wednesday morning, but struggled to hold above US$60,000 all week, only briefly reaching US$61,009 late on Thursday morning, perhaps boosted by better-than-expected GDP figures. Ether’s price movements followed a similar pattern, but it remained stuck below US$2,600 all week.
The number one cryptocurrency continued to decline on Friday, with a 2.84 percent drop observed midday, resulting in losses totaling 7 percent over seven days; Bitcoin ended the final trading day in August at US$59,200. The value of Ether also decreased on Friday, dropping by just over 3 percent in the afternoon and 8.5 percent for the week.
3. NVIDIA, Crowdstrike and Dell release results
This week brought another round of earnings reports from tech industry giants — NVIDIA and Crowdstrike both reported on Wednesday (August 28), while Dell's results came on Thursday (August 29).
NVIDIA had high expectations to live up to after seeing revenue growth of 22 percent in its fourth fiscal quarter of 2024, and 18 percent in its first fiscal quarter of 2025. Wednesday's results, which cover the company's second fiscal quarter of 2025, exceeded analysts' expectations, with NVIDIA reporting revenue of over US$30 billion. However, its quarterly revenue growth was only 15 percent, less than the previous two cycles, suggesting the AI boom may be slowing.
Investor disappointment was evident in NVIDIA's share price, which had fallen 1.94 percent by the day's end. Losses extended into after-hours trading, and company shares ended the week down 7.9 percent.
Crowdstrike's results, also for its second fiscal quarter of 2025, were closely watched after a defect in a system upgrade caused global computer outages on July 19, costing Fortune 500 companies an estimated US$5.4 billion
The company's performance was better than anticipated, with its quarterly revenue reaching US$963.9 million compared to the expected US$959 million, a 32 percent increase compared to the previous quarter.
However, Crowdstrike reduced its full-year earnings per share guidance to US$3.61 to US$3.65, down from US$3.93 to US$4.03. It also cut revenue guidance for its full 2025 fiscal year to US$3.89 billion to US$3.9 billion due to costs tied to the outage. The company’s share price is up 2.62 percent for the week.
Finally, Dell’s results for its second fiscal quarter of 2025 revealed 80 percent growth in server sales compared to a year ago. The company also increased its full-year revenue guidance to US$95.5 billion to US$98.5 billion, up from US$93.5 billion to US$97.5 billion. Dell shares are up 54.49 percent year-to-date and 4.33 percent for the week.
4. OpenAI seeks billions in new funding round
OpenAI is reportedly in talks to raise several billion dollars in a new funding round led by Thrive Capital.
According to sources for Bloomberg, Thrive will contribute US$1 billion, with tech heavyweights Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL) and NVIDIA also looking to add unspecified amounts.
No reps for any of the companies involved have issued official statements. However, insiders have said OpenAI CFO Sarah Friar told staff the company is seeking capital in a memo on Wednesday. If successful, the latest round of funding will give OpenAI a valuation above US$100 billion, more than any other AI startup to date.
5. Google releases new Gemini features
Google began rolling out two new features for Gemini Advanced Business and Enterprise subscribers on Wednesday. Gems, which are custom versions of Gemini that can be written for specific goals, became available immediately after the company’s press release was issued. Alongside the customizable Gems, Google has launched a set of preloaded Gems: a learning coach, a brainstormer, a career guide, a writing editor and a coding partner.
Imagen 3, Google’s newest image generation model, will become available “over the coming days." Both features were previewed at Google I/O in May. The company states that Imagen 3 “sets a new standard for image quality,” and can create images using fewer language prompts and in multiple styles.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
NVIDIA Eyeing US$100 Million Investment in OpenAI's US$100 Billion Funding Round
Leading chipmaker NVIDIA (NASDAQ:NVDA) is reportedly one of several tech giants considering a significant investment in OpenAI's latest funding round, Bloomberg said on Thursday (August 29).
The funding round, led by Thrive Capital, is expected to value the artificial intelligence (AI) startup at over US$100 billion. NVIDIA is said to be eyeing a US$100 million stake in OpenAI as companies race to get exposure to the AI sector.
Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) are also believed to be interested in the capital raising. Microsoft, currently OpenAI’s largest backer, has invested about US$13 billion in the company to date.
The companies haven't confirmed their involvement yet, but if a deal materializes it would mark a major collaboration between three of the most valuable companies in the tech industry and one of the most prominent AI firms.
Thrive Capital will also reportedly contribute about US$1 billion to this funding round, which comes as OpenAI aims to upscale its operations as a direct response to growing global demand for AI technologies.
OpenAI's flagship product, ChatGPT, has been at the forefront of the AI revolution, transforming interactions with technology and sparking a competitive race among tech companies to integrate AI across their products.
Crucially, NVIDIA's interest in OpenAI is aligned with its broader strategy of dominating the AI hardware market.
The company’s GPUs, which are critical for developing and running generative AI models, have seen soaring demand as AI-powered technologies continue to expand. On Wednesday (August 28), NVIDIA reported strong quarterly results, revealing that its revenue more than doubled to reach US$30.04 billion for the period.
NVIDIA briefly became the company’s most valuable company this past June, leapfrogging past Microsoft and Apple as it was propelled by the growing market for AI chips. An investment in OpenAI would further entrench NVIDIA as a key player in the AI sector, reinforcing its position at the center of AI development.
Apple's involvement in this funding round leans more toward enhancement of its current AI capabilities.
The company has been integrating AI more deeply into its ecosystem, with new features being rolled out under the banner of Apple Intelligence. Bloomberg said in early July that Apple's Phil Schiller was slated to take a board observer seat at OpenAI, allowing him to attend meetings, but this plan was reportedly abandoned later that month.
Microsoft’s deep ties with OpenAI position it as a central player in this latest funding round. The company has closely integrated OpenAI’s technology into products such as its Windows operating system and its Copilot AI platform.
However, Microsoft’s relationship with OpenAI has also attracted regulatory scrutiny, particularly in the EU and the US, where there are concerns about the concentration of power within a few large tech companies in the AI space.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
NVIDIA Q2 Stock Earnings: What Investors Need to Know
All eyes in the investment world were on Nvidia (NASDAQ:NVDA) today (August 28) as the tech giant prepared to release its eagerly anticipated Q2 2025 earnings report after the closing bell.
Amid growing concerns about overvaluation and potential market correction, Nvidia's performance over the last few quarters has captured the attention of investors and analysts alike.
With high stakes and major implications for the broader market, the release of Nvidia's Q2 earnings report is poised to have a substantial impact on the company's trajectory and the tech sector as a whole.
Contextualizing Nvidia's Q2 2025 results
While all the major tech stocks have seen dramatic price swings, Nvidia has been in a league of its own. After its Q1 earnings report in May exceeded analyst expectations, Nvidia has seen dramatic price fluctuations in its stock value throughout the summer. Investors have responded to a confluence of factors that have created uncertainty and volatility in the markets, such as fluctuating inflation data on a weekly basis and the ongoing speculation surrounding the overvaluation of AI stocks.
The technology sector has experienced a meteoric rise in recent years, with many tech companies achieving impressive growth and profitability. Nvidia has led the pack, accumulating a market capitalization of over US$3 trillion since the launch of ChatGPT in November 2022. Its stock price has also grown by over 160 percent year-to-date. However, this has led to concerns that AI stocks may be overvalued and susceptible to a correction.
Shortly after New Research analyst Pierre Ferragu downgraded Nvidia from “buy” to “neutral” on July 5, the company’s stock price exhibited heightened volatility, highlighted by a series of sharp reversals throughout the month.
Ferragu stated at the time that Nvidia stock is “getting fully valued” and that further growth “will only materialize in a bull case, in which the outlook beyond 2025 increases materially, and we do not have the conviction on this scenario playing out yet.”
By July 30, Nvidia had fallen by a total of 23.1 percent from its highest valuation that month. However, it rebounded the next day, adding US$329 billion to its valuation and ending July with a new record for single-day earnings.
Nvidia’s outsized position on the S&P 500 stock index has also been cause for concern. The company accounts for 6.67 percent of the market-capitalization-weighted index, trailing Apple by just 0.27 percent. Bloomgberg’s John Authers has likened Nvidia’s earnings reports to a macro event akin to the August 5 market rout that led the index to experience its largest single-day loss since 2022. On that day, Nvidia’s losses exceeded 15 percent compared to its closing price on August 2.
Challenges ahead for Nvidia
In addition to the stock market turbulence, Nvidia is grappling with critical factors that could impact its business. Sources for The Information reported on August 5 that engineering issues would delay the release of the company’s highly anticipated Blackwell chip series, adding pressure to an already turbulent market landscape.
The Blackwell delay has exacerbated concerns about Nvidia’s ability to deliver on the promises of its technology and meet the high expectations placed upon it by investors. The US Department of Justice is also reportedly investigating Nvidia for anti-competitive practices.
Nvidia’s customer base, which includes billion-dollar companies such as Google (NASDAQ:GOOGL), Meta (NASDAQ:META), and Microsoft (NASDAQ:MSFT), has invested significantly in Nvidia’s AI infrastructure, leading investors to grow increasingly cautious when these companies report earnings that often highlight further investment plans rather than immediate returns.
Analysts speculated ahead of Nvidia's Q2 earnings report today that it could cause an over US$300 billion swing in its shares, with an anticipated stock move of nearly 10 percent — the largest in the last three years. Analysts predicted that earnings per share would increase to US$0.64 and revenue would reach US$28.7 billion.
NVIDIA's Q2 results come in above analyst predictions
Nvidia’s Q2 2025 results for Q2 ending July 28, 2024 were released as the markets closed on Wednesday and revealed quarterly revenue of US$30.04 billion, a 15 percent increase from Q1 and a 122 percent increase year over year.
The company cited demand for its Hopper graphic processing units and anticipation for the Blackwell series as drivers of its performance in the second quarter. Data center revenue was US$26.3 billion, up 16 percent from last quarter and 154 percent year-over-year.
Earnings per share came in at US$0.67, 12 percent higher than Q1 and a 168 percent boost from Q2 2024. Both revenue and earnings per share came in above analyst expectations.
Nvidia also announced a second share repurchase authorization worth US$50 billion, adding to the US$7.5 billion remaining from its repurchase authorization in Q1 and bringing the total available to US$57.5 billion.
For its Q3 2025 period, the company projects revenue of around US$32.5 billion, plus or minus 2 percent.
Nvidia’s share price closed at US$125.61. The market's initial reaction sent Nvidia stock up by over 2 percent immediately after the closing bell, only for it to fall by nearly 10 percent roughly 30 minutes after the report’s release. Its share price at 5:00 p.m. EST was US$120.50, a decline of over 4 percent.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
2024 Annual Report & Appendix 4E
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