Apple abandons investment in OpenAI

It’s FRY-day! And the best part? On FRY-days we explore all things AI and FRY-nance. Let’s dive in. 🤑

*Nothing we offer constitutes investment advice. Our aim is to report the latest happenings and teach you how to use the newest AI finance tools.*

🤯 MYSTERY AI LINK 🤯

(The mystery link can lead to ANYTHING AI-related: tools, memes, articles, videos, and more…)

🔨 AI FINANCE TOOLS OF THE DAY

📄 SEC Insights: Effortlessly analyze multifaceted financial documents such as 10-Ks and 10-Qs. → Check it out

🔬 FINQ: Use science and big data to make money. → Check it out

💸 JustPaid: Automate invoice follow-ups. → Check it out

SALTY STORIES OF THE WEEK 🧂

Want some seasoning? Here are the saltiest AI stories in FRY-nance from this week:

• Google announced a $1 billion investment to build a new data center in Thailand and expand its cloud infrastructure, marking a significant step in its Asian growth strategy. (Read More)

• Apple has withdrawn from OpenAI’s $6.5 billion funding round. The reasons for Apple’s exit remain unclear, but it coincides with internal transitions at OpenAI, including a shift towards profitability. Meanwhile, Microsoft and Nvidia are still poised to invest, with Microsoft expected to contribute another $1 billion. (Read More)

• Cerebras Systems, a pioneering company in AI hardware, has officially filed for an initial public offering (IPO). It will now compete directly with Nvidia and others on the market. (Read More)

THIS WEEK’S DIAMOND IN THE ROUGH 💎

Q: Why couldn’t the data scientist open a new restaurant?

A: They couldn’t find enough servers. 🥗

This week’s diamond in the rough: Innodata (INOD).

Want some numbers? Innodata went public in 1993 and spent the next 25 years as a slow-growth IT services and enterprise software provider. However, from 2019 to 2023, its fortunes shifted, with revenue growing at a compound annual growth rate (CAGR) of 12%. Analysts now project even faster growth, expecting a 33% CAGR from 2023 to 2026. This would add to a massive bull run, as the stock is already up 1,450% over the past five years.

Why is Innodata exploding? The key to this transformation is the provision of generative AI services coupled with over 30 years of experience and expertise. Over the past few years, Innodata has secured master service agreements with five of the “Magnificent Seven” tech companies, with plans to expand its business significantly with three of those giants. This opens doors for Innodata that it has never had access to before, offering a revival for the old tech company.

HOW ARE THE MAGNIFICENT 7 DOING? 📈

FRY-NANCIAL TOOL OF THE WEEK 🔧

We don’t get any direct perks for sharing this tool—we just want you to show you how cool AI tools like this can be used to enhance personal finance. 😁

What is the tool? Aime Copilot is an easy-to-use platform that offers real-time market insights, stock screening, and personalized financial guidance.

How does it work? Aime offers the following AI-powered features:

1. Chat: Chat in natural language about anything related to investments or finance.

2. Real-time Market Insights: Get live updates on market trends and news.

3. Stock Screener: Search and filter stocks based on a variety of customizable metrics.

4. Super Charts: Visualize technical stock data in different forms for better analysis.

5. Magic Portfolio: Receive tailored investment recommendations based on your portfolio.

6. Watchlist and Portfolio Tracking: Monitor your investments in real time.

FRY-AI FANATIC OF THE WEEK 🍟

Congrats to our subscriber, nathalie! 🎉

Nathalie gave us a Fresh and Crispy review and wrote, “I really enjoy this newsletter. Its simple, fresh design encourages me as a reader to explore quickly the things I am interested about and be informed, and skip things I’m not so much into. Great job.”

(Leave a comment for us in any newsletter, and you could be featured next week!)

YESTERDAY’S POLL RESULTS 📊

Featured comments:

“They are toys at the moment in many respects unless you use the APIs…” (Yes 💪)

“At first it was great, but it has definitely reached a bit of a plateau.” (Yes 💪)

HAS AI REACHED SINGULARITY? CHECK OUT THE FRY METER BELOW: