Good morning. We had a ball during yesterday’s Fortune Brainstorm AI conversation about finding ROI for generative AI. Many thanks to leaders from Medtronic, Natura & Co, the State of California, and founding partner Accenture for a delightful discussion.
For those who missed it, a haiku:
Think big but act small
Amplify humanity
Measure the results
The news below. Have a great weekend. —Andrew Nusca
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‘Insane’ demand for Nvidia’s latest GPUs
It’s not just the latest iPhone making techies dizzy with desire these days. Nvidia CEO Jensen Huang says his company’s Blackwell GPU, used by companies to power AI, is experiencing “insane” demand.
“Everyone wants the most, and everyone wants to be first,” Huang said in an interview with CNBC.
Engineering snags initially hobbled manufacturing of the pricey—$30,000 to $40,000—chip after its release six months ago. But it’s now “in full production,” Huang assured customers during the interview. (Nvidia’s largest buyers: Microsoft, Meta, Amazon, Alphabet.)
This isn’t the first time Nvidia grappled with Hunger Games-like reception for its sophisticated Blackwell chips. In February, during a company earnings call, Huang went so far as to insist that Nvidia was allocating its chips fairly in an attempt to counter fears that the company was favoring certain big customers over others.
After all, there are much worse games to play. —Sharon Goldman
Crypto crackdown chief steps down
It’s hard to think of a crypto bogeyman bigger than Gary Gensler, the Securities and Exchange Commission chair.
Prominent politicians and industry leaders have called for Gensler’s head, given his track record of lawsuits against myriad crypto companies and executives. But he seems as resolute as ever.
One of his main deputies, however, has decided to call it quits. The SEC announced Wednesday that its enforcement director, Gurbir Grewal, will step down. He brought more than 2,400 enforcement actions and more than $20 billion in fines and disgorgement during his three-year tenure.
While many were quick to gloat that Grewal was defeated by enemies lobbying against him, turnover is common in the high-pressure role. Don’t be surprised if we see him next as an attorney at a fancy law firm defending the very industry he once went after. —Leo Schwartz
Google’s AI Overviews get cozy with ads
Few things in modern life are more ubiquitous than Google the company. One of them is ads.
And ads being practically the entire basis of Google’s business—one of the biggest and most profitable of all time—there was never any doubt the company would find a way to inject ads into its search engine’s new AI Overviews.
Taking the form of a “sponsored” result, various brands have begun to appear in the generative AI search results when related to a query with “commercial intent,” according to a report in The Verge.
Google says this is being done in service of the user, allowing them to “quickly connect with relevant businesses, products, and services to take the next step at the exact moment they need them.” How thoughtful!
For now the ads will only appear for mobile users in the U.S., but don’t be surprised to see them creep into other realms of the Googleverse—or see other generative AI companies experiment with advertisements in their services.
The genAI revolution may be upon us, but companies still seem to be making money the old-fashioned way. —Kali Hays
A smarter Oura ring has arrived
Slimmer! Sleeker! More battery life!
No, it’s not the new iPhone. Oura, the Finnish health tech company, has rolled out the fourth generation of its $349 smart ring with new sensing technology that better detects where on your finger to gather health data as the ring shifts around on your digit during the day.
A boost in the number of signal pathways, from eight to 18, translates to more accurate blood oxygen tracking and heart rate readings. Meanwhile a tidier version of the companion mobile app reorganizes your biometrics into three groups: summary, deep dive, and trends over time.
One notably cool feature: Oura will also add the ability to predict fertile windows for people trying to conceive. The move aligns with the company’s changing demographics—a majority of the company’s customers now identify as female, a reversal from last year.
The new rings will be available starting October 15. —Jenn Brice
London police love facial recognition
If you’ve ever gone to London, chances are you’ve been on camera. Like, a lot.
There are nearly a million CCTV cameras in London—1 for every 10 people—according to estimates by Clarion Security Systems. That means you’re likely to be captured up to 70 times per day.
The Metropolitan Police, who serve Greater London, have made known their desires to integrate artificial intelligence with that CCTV footprint to identify individuals of interest. The European Parliament, meanwhile, has made known its contempt for the practice, banning the use of facial recognition software in public spaces via its Artificial Intelligence Act.
While the policy dust settles, early results are in: Met police have used facial recognition tech 117 times in the first eight months of the year, up from 32 times in the previous four years, to tackle crime and monitor those on its “watchlist.”
According to the Financial Times, an estimated 770,966 Londoners “had their faces scanned over a period of almost five years.” Met police say the tech was 89% accurate and led to 360 arrests; it added that biometric data was immediately deleted for people that were not of interest.
No word if U.K. authorities have opened a Precrime division, though. —AN
More data
—Smart glasses that ID strangers? Minority Report tech strikes again.
—Active exploit for Zimbra mail servers. Patch your systems, people.
—Nvidia insider sales tick up. Peak GPU? Follow the money.
—Spotify adds offline backup. It’s dynamic based on your recent listening.
—PayPal pays EY with proprietary stablecoin. Fiat currency: ugh, as if! —AN
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