Hello Tuners,

In today’s edition:

• Meta value falls $190bn as investors react to plan to increase spending on AI

• Adobe's next big project is an AI that can upscale low-res video to 8x its original quality

• Eric Schmidt-backed Augment, a GitHub Copilot rival, launches out of stealth with $252M

• Nvidia to purchase Run:ai for $700M, further asserting its dominance in the AI stack

• Bitcoin miners upgrade power centers and get into AI to brace for slashed revenue post halving

• The Ray-Ban Meta Smart Glasses have multimodal AI now

Meta value falls $190bn as investors react to plan to increase spending on AI

Looks like Meta's been on a wild ride lately, and it's making Wall Street nervous.

Investors are hitting the brakes as Meta's value drops by a whopping $190bn. Why? Well, Mark Zuckerberg's talking about spending more on AI. Sure, it's cool to see Llama 3 in action, but investors are feeling uneasy.

After a year of saving money, Zuckerberg's suddenly spending big, and it's got everyone worried. Hold on tight, folks, this Meta story's just getting started!

Adobe's next big project is an AI that can upscale low-res video to 8x its original quality

Adobe's potential game-changer—an AI that revamps low-res videos to 8x their original quality.

VideoGigaGAN, as it's called, doesn't just upscale; it injects detail, from skin texture to swaying tree branches, preserving the essence of the original. Using a GAN (generative adversarial network) like GigaGAN, Adobe tackles the challenge of upscaling without creating funky artifacts.

Complex? Definitely. But promising. Previewed alongside Adobe's other AI ventures, like Firefly, it hints at a future where old family videos shimmer with newfound clarity.

While still in the lab, VideoGigaGAN signals a thrilling frontier in video enhancement tech.

Eric Schmidt-backed Augment, a GitHub Copilot rival, launches out of stealth with $252M

Augment, a stealthy AI platform backed by Eric Schmidt, bursts into the scene with a whopping $252 million in funding. Founded by ex-Microsoft developer Igor Ostrovsky, Augment promises to revolutionize coding with AI.

The platform, shrouded in secrecy, plans to offer industry-leading AI models to empower programmers. Despite stiff competition from giants like GitHub Copilot, Augment aims to stand out. With a star-studded team and hefty investment, Augment eyes rapid expansion.

However, concerns loom over AI's impact on code quality and copyright issues. Augment's journey from stealth mode to market disruptor unfolds amidst high expectations and challenges.

Nvidia to purchase Run:ai for $700M, further asserting its dominance in the AI stack

Nvidia's acquisition of Run:ai, an Israeli startup specializing in Kubernetes-based software for optimizing AI workloads on GPUs, solidifies its position in the AI stack.

Valued at approximately $700 million, this move underscores Nvidia's strategic expansion in AI infrastructure management. Run:ai's technology enables efficient GPU resource utilization, offering centralized management for AI workloads across various computing environments.

Integrated into Nvidia's DGX and DGX Cloud offerings, Run:ai's capabilities promise enhanced flexibility and resource utilization for customers.

With a series of strategic acquisitions, Nvidia demonstrates its commitment to providing comprehensive AI solutions, further consolidating its influence in the rapidly evolving AI landscape

Bitcoin miners upgrade power centers and get into AI to brace for slashed revenue post halving

Bitcoin miners are adapting to slashed revenues post-halving by diversifying into AI infrastructure and upgrading operations. With the halving reducing bitcoin issuance, miners face revenue cuts, prompting strategic shifts.

Core Scientific's Adam Sullivan highlights the importance of preparation, emphasizing infrastructure scalability. JPMorgan analysts note the decline in U.S.-listed miners' market cap, while Needham expects modest impacts on EBITDA margins.

Miners like Bitdeer focus on operational excellence and vertical integration, investing in R&D for innovations. Marathon Digital and Stronghold Digital Mining optimize operations for efficiency and lower costs, anticipating improved margins.

Amid the evolving landscape, miners explore ancillary revenue streams and AI integration for sustainable growth.

The Ray-Ban Meta Smart Glasses have multimodal AI now

The Ray-Ban Meta Smart Glasses now feature multimodal AI, a significant upgrade. Despite the recent flop of the Humane AI Pin, early access users find promise in the glasses' AI capabilities.

Activated by saying "Hey Meta, look and...", the AI can identify objects, translate signs, and more. While it occasionally misidentifies objects, its integration into familiar glasses enhances accessibility to information.

Paired with a phone, it provides quick responses, though some tasks may still challenge its effectiveness.

LLM Of The Week

Apple's changing the game with its release of OpenELM, open source AI models designed to run directly on your device.

Available on the Hugging Face Hub, these eight models aim to boost accuracy and efficiency. Apple's generosity extends beyond just the models—they're providing code, training logs, and different versions for tinkering. It's a move to speed up progress and ensure better results in natural language AI.

By sharing these models, Apple hopes to foster research and attract top talent. While not yet integrated into devices, iOS 18 rumors suggest on-device AI is on the horizon

Weekly Research Spotlight 🔍

Diffusion-based Super Resolution

Imagine you have a photo that's a bit pixelated, and you want to enhance its quality without draining your computer's resources or spending a fortune on software. CutDiffusion steps in as a smart solution. It's like a wizard that swiftly transforms your pixelated image into a high-resolution one without the need for complex tools.

CutDiffusion divides the process into two phases: first, it applies broad improvements to the entire image to remove pixelation, and then it hones in on specific areas to refine details. This approach ensures efficiency and effectiveness. Additionally, CutDiffusion optimizes computer usage by working on small sections of the image at a time, reducing processing time and cost. It's like having a powerful photo editing tool at your fingertips, making high-quality image enhancement accessible to everyone.

Best Prompt of the Week 🎨

Today's Goal: Try new things 🧪

Acting as a UX/UI Developer

Prompt: I want you to act as a UX/UI developer. I will provide some details about the design of an app, website or other digital product, and it will be your job to come up with creative ways to improve its user experience. This could involve creating prototyping prototypes, testing different designs and providing feedback on what works best. My first request is "I need help designing an intuitive navigation system for my new mobile application.