TikTok's parent company dances around restrictions

Good morning, and welcome to FRY-nancial FRY-day! Today is the day of the week when we break down the latest financial happenings in the AI world. 💰

*The content provided in this newsletter is for informational purposes only and does not constitute investment advice.*

🤯 MYSTERY AI LINK 🤯

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

🔨 AI FINANCE TOOLS OF THE DAY

💳 Finta: Your fundraising copilot. → Check it out

👫 Provisian: Personalize your financial planning with AI. → Check it out

💰 Lofty: Real estate investing made easy. → Check it out

SALTY STORIES OF THE WEEK 🧂

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

• ByteDance, TikTok’s parent company, is reportedly planning to bypass U.S. export restrictions on advanced computer chips by renting access to Nvidia's GPUs through data centers outside China, rather than purchasing them directly. ByteDance is planning to spend $7 billion on this endeavor. (Read More)

• Nvidia has completed its $700 million purchase of Israeli AI firm Run:ai. The deal is part of Nvidia’s strategy to provide its customers with better software tools to make their chips run faster and more efficiently. (Read More)

• In 2024, Nvidia ramped up its investments in AI startups, participating in 50 funding rounds totaling over $1 billion, a 15% increase from 2023. Key investments included Elon Musk's xAI, which uses Nvidia GPUs extensively, and other firms like OpenAI, Perplexity, and CoreWeave. The company achieved 94% year-over-year revenue growth to $35.1 billion. (Read More)

THIS WEEK’S DIAMOND IN THE ROUGH 💎

Q: Why don’t bears like fast food?

A: Because they can’t catch it. 🐻

This week’s diamond in the rough: BigBear.ai (BBAI)

How is BigBear using AI? BigBear focuses on helping organizations make smarter and faster decisions through its AI-driven analytics tools. Unlike its competitors, the company emphasizes running its services on edge networks, which process data closer to where it is generated rather than relying on centralized systems. This approach can be faster and more efficient. Additionally, BigBear’s tools are modular, meaning they can easily integrate with a company’s existing software. This flexibility gives it an edge in a crowded market.

Want some numbers? Financially, BigBear’s journey has been bumpy. After falling short of its earlier revenue projections, the company has seen revenue stagnate at $155 million for two years. However, it expects to report modest growth of 6-16% this year, partly fueled by a $165 million contract with the U.S. Army and other government projects. The company has also partnered with platforms like Amazon Web Services and Palantir, and acquired AI vision technology firm Pangiam. Big deals and a solid technological foundation have the stock up 215% in the past three months.

HOW ARE THE MAGNIFICENT 7 DOING? 📈

FRY-NANCIAL TOOL OF THE WEEK 🔧

Q: Why are astronauts so calm?

A: There is less pressure in space. 👩‍🚀

What is the tool? Canua can help you organize and automate overwhelming financial tasks like paying bills, tracking expenses, doing taxes, and saving money.

What are the features?

• A single financial dashboard: Canua automates data gathering and organization so you always have an up-to-date view of your finances.

• An automated assistant: Canua enables users to automate recurring actions to grow wealth and stay compliant with taxes and budgets.

• Your data is secure: Canua uses bank-level encryption to keep user data safe both in transit and while at rest in its databases.

FRY-AI FANATIC OF THE WEEK 🍟

Congrats to our subscriber, jsnapp! 🎉

Jsnapp gave us a Sizzling review and wrote, “Very happy to read every day about AI on different angles. Thanks!.”

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

YESTERDAY’S POLL RESULTS 📊

Featured comments:

“I’ve been studying AI and would like to learn more to advance my career and income through modern technology like AI.” (How to make money with AI 💰)

“How it will alleviate mundane life and enhance quality of life in the next 10, 50, 100 and 500 years.” (How it is impacting society 👥)

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