AI ETFs 2.0: Harbor capital targets Anthropic, OpenAI and xAI in ‘Lab’ funds

There is a harsh truth about Elon Musk's "truth-seeking" AI chatbot Grok: It's not very good, and not many people are using it. That's the takeaway of a new Reuters report, which found that Grok barely appears in federal records of how the US government used AI last year. It's not the only sign xAI's signature chatbot is in trouble, even as Musk puts it at the heart of what could be the biggest IPO in history. Reuters reviewed more than 400 examples of government AI use where specific vendors were named. Grok or xAI, it found, appeared in only three - each of those for basic uses like document drafting or social media management, and always … Read the full story at The Verge.

Meta is the latest company to trim its workforce as a result of the growing use of AI within the industry. The company laid off 8,000 employees earlier this week, while also moving 7,000 more to AI-focused roles. “AI is the most consequential technology of our lifetimes,” Zuckerberg said in a memo that he sent to employees, informing them of the cuts.  “The companies that lead the way will define the next generation,” he added. The company has not revealed too much detail of the changes in the workforce, but it’s clear that jobs focused on AI infrastructure will be protected. Meta is not alone in announcing cuts. In a blog this month, Cisco said it was cutting 4,000 jobs and Microsoft is looking at inciting employees to take voluntary retirement for the first time. The Meta reorganization is following the trend that businesses that don’t adapt to AI usage will struggle. Earlier this year, PwC US CEO Paul Griggs caused consternation when he suggested that executives who failed to get to

The EU's struggle to access Mythos highlights a cybersecurity gap, prompting potential shifts towards AI sovereignty and regulatory changes. The post EU makes little progress in talks with Anthropic on Mythos testing appeared first on Crypto Briefing.

OpenAI will open its first Applied AI Lab outside the US in Singapore. The lab is part of a new partnership with the Ministry of Digital Development and Information. The initiative, called OpenAI for Singapore, was announced at the ATx Summit and is backed by a commitment of more than S$300 million. The lab will […] The post OpenAI opens Singapore AI lab as IMDA updates AI framework appeared first on AI News.

And another major week in legal AI, just as AL goes on holiday until June 1st. First up, OpenAI Co-founder, Greg Brockman, announced on X ...

Lehane's state-focused strategy could shape AI's regulatory landscape, impacting investment dynamics and potentially benefiting larger firms. The post OpenAI’s Chris Lehane seeks to address AI’s reputation crisis appeared first on Crypto Briefing.

Anthropic's potential use of Microsoft's AI chips could enhance AI model efficiency and bolster Microsoft's position in the custom chip market. The post Anthropic in talks to rent Microsoft AI chips amid rising demand for compute appeared first on Crypto Briefing.

Anthropic's growth signals a shift in AI market dynamics, potentially reshaping competitive landscapes and influencing investor strategies. The post Anthropic Q2 revenue projected to surge to $10.9B, nearing profitability appeared first on Crypto Briefing.