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Artificial Intelligence Investment Soars to Trillions, Sparking Regulatory InterestUSA News Group Commentary VANCOUVER, BC, April 23, 2024 /PRNewswire/ -- USA News Group – In just a few years, the potential generated by the rise of Artificial Intelligence (AI) continues to entice investment to the tune of many trillions, with McKinsey & Company projecting generative AI to generate up to $7.9 trillion alone annually. It's a sector that's still in its early stages, and with that comes plenty of scrutiny, including the recent actions by US regulators regarding whether or not investors of OpenAI were misled, through an SEC inquiry launched in February. All the while, corporate AI investment is surging, with several companies benefitting including NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), Meta Platforms Inc. (NASDAQ:META) (NEO:META), Apple Inc. (NASDAQ:AAPL) (NEO:AAPL), C3.ai, Inc. (NYSE:AI), and Avant Technologies Inc. (OTC:AVAI). Looking to help unlock the full potential of AI, Avant Technologies Inc. (OTC:AVAI) is pursuing its stated mission to build the nation's first supercomputing network to provide big data and AI software companies with a faster, more powerful, and more cost-effective compute infrastructure. Recently Avant signed a co-development agreement with Wired4Tech, Inc. to create high-density compute infrastructure and supercomputer network software to move the company closer to achieving this mission. "The technological innovations that we expect this collaboration to yield will help to usher in a new era of performance, cost efficiency and environmental sustainability for AI and Big Data," said Timothy Lantz, CEO of Avant. "We have made exciting progress in the past several months, and we believe this partnership will further help to accelerate speed-to-market of our next generation solutions." The Wired4Tech collaboration aims to assist in the final stages of development and testing for Avant's new high-density private cloud infrastructure solution. Additionally, it will start to establish the groundwork for Avant's proposed AI supercomputing network. Avant expects to launch its next-generation infrastructure solution sometime in the first half of 2024. "We're at an inflection point where accelerated computing and generative AI have come together to speed innovation at an unprecedented pace," said Paul Averill, Founder and CEO of Wired4Tech. "Our partnership with Avant Technologies will help AI companies accelerate their work with infrastructure, software and services that drive efficiency and reduce costs. There is no AI without the right infrastructure and Avant will lead the way with its unique and innovative and cost-effective AI platform." The collaboration was a follow-up to Avant's announcement that the company is set to leverage its proprietary AI to drive proactive, next-generation data center security, through its enhancements to Avant! AI™, that seamlessly integrates with industry-standard data science tools and algorithms, enabling organizations to harness the power of data for deeper insights and informed decision-making. "The rapid advancements in AI are unlocking tremendous opportunities and potential across almost every facet of our lives, but those same advancements can also pose an increased threat when used by those with an intent to harm," said Lantz. "In today's digital world cybersecurity is of paramount importance and Avant is committed to providing our customers with the necessary tools to ensure the safety and security of their information and that of their end-users." The planned improvements in Avant's proprietary gen AI are designed to achieve two main goals: to provide early detection of potential security vulnerabilities and to offer recommendations for proactive measures to strengthen cyberecurity baselines, reduce risks, and ensure compliance in the ever-changing digital environment. Under the hood of many of the biggest AI setups today are products from NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), which has seen its market cap surge to more than $2 trillion based upon an insatiable AI chip demand. This includes mega investments from some of the largest tech companies on the planet, including Meta Platforms Inc. (NASDAQ:META) (NEO:META) which is spending billions of dollars on Nvidia's AI chips. Shared through an Instagram Reels post by CEO Mark Zuckerberg, Meta's "future roadmap" for AI requires the construction of "an absolutely massive amount of infrastructure." By the end of 2024, Zuckerberg mentioned that this infrastructure will comprise 350,000 H100 graphics cards from Nvidia—which were being sold for more than $40,000 on eBay as recently as last April. The ramp up of GPUs for Meta is projected to cost as much as $18 billion by the end of 2024. The ambitious loading up of infrastructure is similar to Meta's $13 billion spent on Reality Labs, its metaverse division in 2022. Competition for computing power will be ramping up, as Apple Inc. (NASDAQ:AAPL) (NEO:AAPL) has signalled the company will be investing significantly in generative AI, as it moves away from its self-driving electric car project. So far, Apple CEO Tim Cook hasn't launched any competing products to models like OpenAI's GPT or Google's Gemini, but he has already teased a major announcement that the company will "break new ground" in GenAI coming later this year. "AI is woven into our users' lives for all sorts of tasks, from the everyday to the essential," said Tim Cook. "AI allows Apple Watch to help you track your workouts, automatically detecting whether you're taking a walk or going for a swim. It enables your iPhone to call for help if you're in a car accident." While Cook's sentiments hint towards Apple moving more towards AI investment, the company's investors have grown impatient with the tech giant after lagging behind its mega-tech peers who have shared much clearer AI strategies. Enterprise AI application software company C3.ai, Inc. (NYSE:AI) is coming off of a healthy Q3 2024 financial results announcement, where they saw total revenue grow 18% year-over-year to $78.4 million, exceeding their guidance range. Perhaps more importantly, C3 AI saw its customer engagement grow 80% year-over-year, and a 23% increase in subscription revenue. "Generative AI use cases continue to influence customer engagement, with 17 of 29 total pilots signed in the quarter driven by generative AI," said Kingsley Crane, analyst at Canaccord Genuity, about C3 AI in a report. "So far, the company has been converting pilots into full-time customers roughly near the assumed spend levels of $210,000 per quarter, even if some pilots have pushed a bit beyond the initially planned six months and started a bit lower than $500,000 contribution over two quarters. If C3 can continue the sequential growth in product revenue we've seen over the past three quarters, the firm is on track to grow over 30%." Among the customer base that C3 AI has been working with is biotech giant Genentech, to improve the complex biologics manufacturing process with AI. Genentech began using the AI application in 2021 to ensure centrifuges in their facility remained operational, with patients benefitting by receiving their medicines on time. In 2022, the biotech developer would go on to expand its use of C3's assets beyond centrifuges, to around 200 pieces of equipment in total. Now Genentech has nearly 200 users including data scientists and facility managers who are trained to use the C3 AI platform, and regularly use the AI application to evaluate equipment health and maintain manufacturing operations. CONTACT: USA News Group [email protected] DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. 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SOURCE USA News Group 
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