Bill Gates News

On June 29, Palo Alto-based Inflection AI announced the completion of a $1.3 billion raise led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt and Nvidia. The new capital will be partly allocated to building a 22,000-unit Nvidia H100 Tensor GPU cluster, which the company claims is the largest in the world. The GPUs will be used to develop large-scale artificial intelligence models. Developers wrote: 

The United State Department of Justice has announced the extradition of a 23-year-old UK citizen behind the 2020 Twitter hack and other cybercrimes, including the theft of $794,000 in digital assets. 

The billionaire CEO of Epic Games, the company behind the popular online game Fortnite, has refuted claims that the metaverse is dead. 

Mira Murati, the chief technology officer at OpenAI, believes government regulators should be “very involved” in developing safety standards for the deployment of advanced artificial intelligence models such as ChatGPT. 

While tech giants across the world work on materializing the idea of having a generative artificial intelligence (AI) to aid humans in their daily lives, the risk of the nascent technology going rogue remains imminent. Considering this possibility, Tesla and Twitter chief Elon Musk reminded the people of AI’s potential to destroy civilization.

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Cathie Wood is holding on to her forecast of Bitcoin reaching $1 million by 2030 and the internet is in splits.

Last month marked the 30th anniversary of the publication of Neal Stephenson’s science fiction novel Snow Crash. With its dystopian vision, rollicking prose and futuristic renderings of everything from social media networks to virtual assistants and even alternative currencies — Bitcoin wasn’t to launch for another 17 years — the work soon achieved iconic stature in the tech world. Bill Gates, Jeff Bezos and Jack Dorsey were admirers, while Google co-founder Sergey Brin called Snow Crash one of the two books that changed his life. 

Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a “Ponzi scheme.”

Akshaya.io, an NFT marketplace launched its 'phygital' collection by Masterchef Vikas Khanna based on his book Sacred Tastes of India on Thursday. Commenting on the volatility in the crypto and NFT markets, Ganesh Raju, Founder and CEO, Akshaya.io said, in an interview with Etmarkets.com, that the web3 technology is going to revolutionise the e-commerce landscape. According to him, NFTs are more often than not related to just digital artworks of monkey images or cat images, which leads to question — what is the true value of such collectibles. This has led to emergence of the 'phygital' concept — phygital + digital.

Tesla and SpaceX CEO Elon Musk is being sued for $258 billion (€245 billion) by a Dogecoin investor who accuses him of running a pyramid scheme to support the cryptocurrency.

Tech billionaire, and currently the world’s fourth-richest person, Bill Gates, spoke at the TechCrunch climate change conference Tuesday about the progress society has made in supporting the climate movement, his assessment of current global economics, alongside his skepticism of NFTs. 

Bill Gates has slammed the digital assets class, outrightly dismissing the projects, including non-fungible tokens (NFTs). The billionaire said such assets are based on the 'greater fool theory' and that is, of course, until there are no greater fools left, he said. “The prices go up because people are able to sell overpriced items to a greater fool. Digital images of monkeys are going to improve the world,” he added in a sarcastic note.

Bill Gates dismissed cryptocurrency projects such as nonfungible tokens as shams “based on the greater-fool theory” at a climate conference Tuesday, reviving past criticisms of digital assets. “Obviously, expensive digital images of monkeys are going to improve the world immensely,” Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch. He said he’s neither long nor short the asset class. Gates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins. Speaking Tuesday as the founder of Breakthrough Energy Ventures, the climate-focused fund he began in 2015, Gates noted the difficulty of recruiting Silicon Valley engineers to work in industries like chemicals and steel production in need of lower greenhouse gas emissions.

Bill Gates is not a fan of cryptocurrencies or non-fungible tokens.

Bill Gates blasts Crypto, NFTs as based on greater-fool theory

Accessible luxury brand Lacoste has launched an NFT project named “Undw3” that includes a new decentralized autonomous organization (DAO) that will offer token holders voting power on certain products and business partnerships.

The top 50 richest people in the world have lost more than half a trillion dollars on paper this year, a stunning loss of wealth that exceeds the gross domestic product of Sweden and is greater than the market caps of all but six companies in the S&P 500.

Major cryptocurrencies traded in the red early on May 24 as the global cryptocurrency market cap dropped 2.05 percent to $1.26 trillion over the last day. On the other hand, the total crypto market volume over the last 24 hours  jumped 36.09 percent to $83.88 billion.