Top Companies' AI Moves

Today's Stories

1. 1

   Applied Materials invests $500 million to expand AI chip manufacturing in Singapore

   Applied Materials, a company that makes the specialized equipment used to manufacture computer chips, announced a $500 million investment to expand its Singapore operations on June 14th. The expansion will boost both manufacturing capacity and research facilities to meet surging demand for AI chips that power systems like ChatGPT and autonomous vehicles.

   This investment should help reduce the global chip shortage that has made everything from smartphones to cars more expensive and harder to get.

2. 2

   Oracle partners with OpenAI to offer ChatGPT access through existing cloud contracts

   Oracle announced on June 10th that businesses can now access OpenAI's models (the AI behind ChatGPT) and Codex (a programming assistant) directly through their existing Oracle cloud commitments. This means companies don't need separate contracts with OpenAI to use the technology.

   Businesses already using Oracle's cloud services can now add AI capabilities to their operations without switching vendors or negotiating new contracts.

3. 3

   Mastercard enables AI agents to make automatic payments using cryptocurrency

   Mastercard launched a new system on June 10th that allows AI agents (automated software programs) to make payments on behalf of users, partnering with crypto companies like Coinbase and Ripple. The system lets AI handle transactions automatically without human intervention.

   This could lead to AI assistants that can automatically pay bills, make purchases, or handle financial tasks without you having to manually approve each transaction.

4. 4

   Walmart addresses employee concerns about AI-related job cuts

   As tech companies announced more layoffs in early June, Walmart has been working to reassure employees that its AI initiatives won't lead to mass job losses. The retail giant is investing heavily in AI for inventory management and customer service but emphasizes retraining rather than replacing workers.

   Walmart employees may see their job roles change as AI handles more routine tasks, but the company is focusing on teaching new skills rather than eliminating positions.

5. 5

   Berkshire Hathaway's Greg Abel makes major AI infrastructure bet

   Greg Abel, Warren Buffett's likely successor at Berkshire Hathaway, made a significant investment decision favoring AI infrastructure companies on June 14th. The move signals that even traditional value investors see AI as a fundamental shift in how businesses operate.

   This stamp of approval from one of the world's most respected investment firms could drive more mainstream business adoption of AI technologies.