Huawei Technologies is gearing up to launch mass shipments of its cutting-edge 910C AI chip to Chinese customers by next month, with initial deliveries already underway. This development is crucial for Chinese AI firms that are seeking alternatives following recent restrictions on Nvidia's (NVDA) H20 AI chip in the Chinese market.
Meanwhile, Alphabet (GOOGL) has reportedly paid substantial fees to Samsung (SSNLF) to preinstall its Gemini AI app on Samsung devices. This agreement, which will last for at least two years, involves fixed monthly payments per device and a share of advertising revenue generated within the app. This move comes amid ongoing legal scrutiny over competitive practices, with a federal judge examining potential remedies following a previous ruling against Google's agreements with Samsung.
In the realm of AI infrastructure, Bank of America has initiated coverage of CoreWeave (CRWV, Financial) with a Buy rating and a $42 price target. The firm praises CoreWeave's Cloud Platform, tailored specifically for GPU computing, positioning it to support AI service giants like Microsoft (MSFT), OpenAI, and Nvidia. Analysts project a robust 62% compound annual growth rate over the next three years, significantly outpacing the broader cloud Infrastructure-as-a-Service sector predicted at 21%. Multiple financial institutions, including Needham and JPMorgan, have also begun coverage with favorable ratings, highlighting its strong potential for growth.
Finally, Rivian Automotive (RIVN) has appointed Aidan Gomez to its board of directors. Gomez, who co-founded and is CEO of enterprise AI startup Cohere, brings deep expertise in data science and AI. His previous tenure at Google included working within the deep learning division under renowned scientist Geoffrey Hinton.
