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AMD reveals new AI chip 

AMD revealed new details about an artificial intelligence chip that could challenge market leader Nvidia.

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AMD revealed new details about an artificial intelligence chip that could challenge market leader Nvidia.

The California-based AMD said its most-advanced graphics processing unit for AI, the M1300X, will start trickling out in the third quarter of 2023, with mass production beginning in the fourth quarter.

AMD’s announcement represents the most significant challenge to Nvidia, which currently dominates the market for AI chips with over 80% of the market share. GPUs are chips used by firms like OpenAI to build cutting-edge AI programs such as ChatGPT. They have parallel processing capabilities and are optimized for handling large amounts of data simultaneously, making them well-suited for tasks that require high-speed, efficient graphical processing.

AMD announced that its latest MI300X chip and CDNA architecture was specifically developed to cater to the demands of large language and advanced AI models. With a maximum memory capacity of 192 gigabytes, the M1300X accommodates even larger AI models than other chips like Nvidia’s H100 chip, which supports a maximum of 120 GB of memory.

AMD’s infinity architecture technology combines eight M1300X accelerators into one system, mirroring similar systems by Nvidia and Google that integrate eight or more GPUs for AI applications.

During a presentation to investors and analysts in San Francisco, AMD CEO Lisa Su highlighted that AI represents the company’s “most significant and strategically important long-term growth opportunity.

Although AMD did not reveal specific pricing details, this action could exert downward price pressure on Nvidia’s GPUs, including models like the H100, which can carry price tags of $30,000 or more. Reduced GPU prices have the potential to contribute to lowering the overall expenses associated with running resource-intensive generative AI applications.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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