TODAY IN AI
1. Nvidia posts record-breaking Q2 revenue as AI demand soars: The company’s data center business reported quarterly revenue of $46.7B — a 56% increase year-over-year. Net income also rose to $26.4B. However, future growth may face headwinds as China moves to reduce reliance on Nvidia hardware. Markets responded cautiously, with shares dipping slightly after results were announced.
2. Google rolls out video editing tool with new AI features: Vids now lets users bring their images to life with AI avatars that speak naturally, creating polished videos without having to record live. Google is also adding its Veo 3 image-to-video-generation tool to Vids, which will let users create short clips from still images using prompts. A free consumer version with limited features is now available, while advanced features can be accessed with paid Workspace plans. You can see it in action here.
3. China expands AI chip capacity to rival Nvidia: The country plans on tripling its AI output next year with new fabrication plants that will support Huawei and other domestic players. Huawei’s dedicated fab production will start by the end of this year, with two more plants launching in 2026. SMIC, China’s largest chipmaker, is also set to double its 7nm chip capacity. The move will boost chip supply from companies like Cambricon and Biren, whose profits and market values have surged this year.
via SuperHuman