Opendoor is closing its India operations less than two years after expanding its presence in the country. CEO Kaz Nejatian cited a push to bring operational work back to the U.S. and a shift toward smaller AI-native teams as the reasons for the closure. Investors and outsourcing experts see the closure as a sign of how AI is reshaping how companies organize operational work.
Lawmakers and witnesses told a congressional hearing on Thursday that the next chapter of responsible innovation should be written in America, not in China. They expressed concern over the US-China competition for global supremacy in artificial intelligence. The nation that leads in AI will set the terms of the world's economy and command the high ground in military power.
This is the third and final post in a mini-series on Google's big equity raise. It's based on the fact that consensus estimates for Google's capex spending are short by tens of billions of dollars. The market is underestimating the effect that race to spend is going to have on near-term profits up and down the supply chain.
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China lagged in computing power but was only 100 days behind the US in frontier AI model capabilities, according to Chi Zhang, general manager of finance industry at the Alibaba Cloud Intelligence Group. China's biggest advantages lie in AI applications thanks to its vast number of entrepreneurs and engineers and current stage of economic development.