Oracle Revolutionizes Cloud Computing: Natural language Search

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On May 3rd, in the year 1978, the world witnessed the advent of a transformative innovation – the first spam email. Though often regarded with disdain, this momentous occasion marked the beginning of digital communication's evolution, heralding both the promise and challenges of an interconnected world.

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TRACK HIGHLIGHTS
Article Takeaways

• Oracle Revolutionizes Cloud Computing: Natural language Search
• SK Hynix High Bandwidth Memory Products Fully Booked for 2025
• Sony and Apollo’s Blockbuster Offer
• Microsoft's Massive Renewable Energy Investment
• Microsoft's Ban on Law Enforcement AI

MARKET PITSTOP
A Quick Look at the Market

Stock Market: Stocks rallied Thursday as investors looked ahead to more corporate earnings and a key labor report set for later in the week. Dow closes more than 300 points higher.

Crypto: The U.S. spot bitcoin ETFs recorded their largest net daily outflows on Wednesday, with $563.7 million leaving the funds, according to SosoValue data.

LAP 1 Featured Story
Oracle is Revolutionizing Cloud Computing with Natural Language Search

• Oracle integrates AI into database for plain English search, enhancing cloud computing appeal.
• Aim: Boost cloud sales amid competition from Amazon and Microsoft.
• Oracle aims for increased database usage to drive cloud platform growth.
• Partnership with Microsoft: Oracle databases in Azure data centers enhance service capabilities.

In its latest move, Oracle is embedding artificial intelligence (AI) features into its flagship database software, a strategic step aimed at bolstering its cloud-computing platform's appeal. With Oracle's Database 23ai service, businesses gain the ability to query their private data using natural language, streamlining processes that previously required specialized coding. This innovative offering extends beyond mere database functionality, as developers can leverage the generative AI search-and-answer feature across various applications stored within Oracle's cloud database infrastructure. Given the dominance of Amazon and Microsoft in the global public cloud market, Oracle is strategically positioning itself to carve a larger share by leveraging the popularity of its renowned database software.

Partnering with Microsoft, Oracle is not only expanding its service reach but also intensifying its competitive edge by integrating Oracle databases seamlessly into Azure data centers, a move designed to enhance service efficiency for Azure customers.

LAP 2
SK Hynix Powers Up: Riding the AI Wave with High-Bandwidth Memory Innovation

• SK Hynix's high bandwidth memory products fully booked for 2025 due to AI chip demand.
• Plans to mass-produce advanced 12-stack HBM3E chip in Q3 2024, meeting increasing demand.
• Samples available in May; mass production to follow, catering to growing market needs.
• AI and HBM chips projected to contribute 61% to SK Hynix's revenue by 2028.

SK Hynix, a major player in the memory chip market, is experiencing soaring demand for its high bandwidth memory (HBM) products, largely driven by the rapid growth of the artificial intelligence (AI) industry. The company's statement indicates that its HBM products are already sold out for the current year and nearly fully booked for 2025. To address this surge in demand, SK Hynix is gearing up to mass-produce its most advanced chip, the 12-stack HBM3E, starting in the third quarter of 2024. This move aligns with the company's strategy to stay ahead in the competitive memory chip market and capitalize on the lucrative AI chip segment. Moreover, SK Hynix's optimism about the future is evident in its plans for substantial investments in expanding semiconductor production capacity, including a significant investment in South Korea and the establishment of an AI chip-packaging facility in the U.S.

BRAIN TEASER
What five-letter word becomes shorter when you add two letters to it?

WALLSTREET PITSTOP
Sony and Apollo's Blockbuster $26 Billion Offer for Paramount Global

• Sony and Apollo offer $26 billion cash bid for Paramount Global, signaling another takeover attempt.
• Sony to be majority shareholder, with Apollo holding minority stake and no operational control.
• Paramount's sales effort faces twists as shareholder revolt prompts executive departures.
• Skydance Media merger proposal infuriates shareholders, prompting Skydance to revise its offer.

Sony Pictures and Apollo Global Management have thrown their hats into the ring once again with an all-cash offer of $26 billion for Paramount Global. This move marks the second time Apollo has made a bid for the entertainment giant, indicating persistent interest in the acquisition. The offer, submitted by Sony Pictures CEO Tony Vinciquerra and Apollo partner Aaron Sobel, serves as a starting point for negotiations and is currently nonbinding. Under the proposed terms, Sony would emerge as the predominant shareholder, with Apollo assuming a minority stake and relinquishing operational control. However, Paramount's sales saga has been fraught with complexities, including a recent shareholder revolt that led to the departure of key executives. Additionally, a proposed merger with Skydance Media has drawn criticism from shareholders, prompting Skydance to revise its offer in a bid to appease concerns.

Lap 3
Microsoft's Renewable Energy Mega-Deal

• Microsoft's deal with Brookfield Asset Management secures 10.5 GW of renewable energy globally.
• It's the largest corporate power purchase deal on record, reinforcing Microsoft's commitment to carbon-free energy by 2030.
• Challenges persist in scaling carbon capture amid surging electricity demands driven by AI.

Microsoft seals record renewables deal to fuel AI ambitions and climate goals with 10.5 GW of new renewable energy capacity, marking the largest corporate power purchase agreement ever signed, costing up to $17 billion, aiming to match 100% electricity use with carbon-free energy purchases by 2030 and becoming carbon negative, but facing challenges in scaling up carbon capture amid soaring AI electricity demands.

FUN FACT STOP
Did you know that even though snakes have nostrils, they smell with their tongue?

LAP 4
Microsoft's Ban on Law Enforcement AI: Safeguarding Against Bias

• Microsoft's Azure OpenAI Service now bars U.S. police from using generative AI for facial recognition, even on mobile cameras.
• The move responds to concerns about hallucinations and racial biases in law enforcement AI applications.
• The ban applies only to U.S. police, leaving room for international usage and stationary camera facial recognition.

Microsoft has reinforced its ban on U.S. police departments from utilizing generative AI for facial recognition through Azure OpenAI Service, stating it explicitly in the terms of service added to the platform. The updated policy prohibits the use of real-time facial recognition technology on mobile cameras by law enforcement globally, particularly in uncontrolled environments. However, the ban only applies to U.S. police departments, leaving room for usage in international law enforcement and facial recognition with stationary cameras in controlled settings.

FINAL LAP - FINANCE & THE STOCK MARKET
Quarterly Highlights: Apple, Inflation Concerns, AI Plans, and Coinbase Success

• Apple beats Q2 estimates as iPhone sales decline 10%

• Americans Continue to Name Inflation as Top Financial Problem

• Apple CEO Tim Cook boasts of future AI plans after earnings beat

• Coinbase tops Q1 estimates on revenue, earnings and surpassing Wall Street's estimates

BRAIN TEASER ANSWER

Short

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