00:00all right let's start with this uh google researchers uh they have uh say they say they
00:06found a way to allow more efficient use of storage needed for ai development all has to do with
00:11compression that compression thingy uh google said the turbo quant technology can cut the amount of
00:18memory required to run large language models by at least a factor of six so this would reduce the
00:25overall cost of uh training artificial intelligence investors uh harbor some concerns that it could
00:32reduce hyperscalers need for memory and you're seeing that play out in some of the the stocks like
00:39uh this morning uh like micron technology and sandus corporation now morgan stanley analyst
00:46sean kim writes in a note the impact on the industry should be more positive because eventually it
00:52affects a critical bottleneck and improves the efficiency of what's known as the key value cash
00:57used for inference running ai models uh like a lot of the bulls in the ai industry and analyst community
01:04he signs the theory known as jevons paradox this is a concept from uh it's a concept from an english
01:11economist it had to do with coal uh saying the more efficient technology becomes the more
01:17a demand is going to rise uh that was during the industrial revolution interesting yeah tom remembers
01:23that um insurance is not boring equitable holdings and corbridge financial set to merge an all stock
01:31deal really this values the combined business at 22 billion dollars so the retirement asset and wealth
01:37management giant uh would be called equitable and manage one and a half trillion dollars in assets
01:43with more than 12 million customers so i guess they're getting rid of the corbridge name uh anyway
01:49the corbridge ceo mark constantini is going to be head of the combined entity equitable's uh mark
01:55pearson will become the executive chairman corbridge had a market value of about 12 billion dollars as
02:02the close yesterday equitable had a market cap of about 11 billion so the deal expected to close
02:09by the end of this year and following the deal corbridge expects to transfer about 100 billion
02:15dollars of assets to alliance bernstein yeah now we're talking the investment manager majority owned
02:22by equitable yep and um you want the bankers on that deal yeah sacks advising equitable and morgan
02:28stanley advising corbridge so the blue blood's getting what's their take on this do you suppose i mean
02:32it's not too shabby that banking fees oh they'll get a nice this this is a nice you want to
02:38advise the seller you get a higher fee for advising the seller i haven't checked the league tables in
02:43a while i gotta do that um pony ai ticker symbol p-o-n-y delivering its first profitable quarter
02:52uh but here's a bit of a rub the profits not from its main robo taxi business it's actually from
02:59one of
02:59the early investments uh net income reaching 75.5 million dollars revenue climbing 20 for the year to
03:0690 million dollars the investment game wasn't specified but uh the pony ai unit it was an early
03:13investor in the chip designer more threads and they had a bang up quarter uh pony ai has set a
03:21goal of
03:21deploying robo taxis with partners in more than 20 cities worldwide this year uh they did say late last
03:29year they plan to grow their global feet uh fleet to 3 000 this year pony ai and uber uh
03:36started testing
03:37delivery uh driverless cars in places like croatia expanding their partnership
03:42you
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