Nvidia surges on AI boom, setting off rally
Google pauses Gemini image generation
Alphabet Inc.'s Google said it will pause the image generation of people for Gemini, a powerful artificial intelligence model, after criticism about how it was handling race.
“We're already working to address recent issues with Gemini's image generation feature,” Google said in a post on X on Thursday. “We're going to pause the image generation of people and will re-release an improved version soon.”
The misstep comes as Google has increasingly focused on AI after progress by rivals Microsoft and OpenAI potentially threatened its core internet search business. Advances in AI have led to concerns that the technology will enable deepfakes, misinformation and bias.
Earlier this week, Google said it was aware Gemini was offering what it called “inaccuracies in some historical image generation depictions.”
The move came after critics on X posted numerous examples from the model that appeared to feature historically inaccurate images in regards to the race of the subjects. Reddit strikes $60M AI deal with Google
Reddit has struck a deal with Google that allows the search giant to use posts from the online discussion site for training its artificial intelligence models and to improve products such as online search.
The arrangement, announced Thursday and valued at roughly $60 million, also will give Reddit access to Google AI models for improving its site search and other features.
It's a big step for San Francisco-based Reddit, which relies on sometimes contentious volunteer moderators to run its sprawling array of freewheeling topic-based discussions. Those moderators have publicly protested earlier Reddit decisions, most recently blacking out much of the site for days when Reddit announced plans to start charging many third-party apps for access to its content.
Reddit on Thursday also filed for an initial public offering. The company won't disclose proposed terms for the IPO, including its valuation in a listing, until a later filing. It has been advised to consider a valuation of at least $5 billion.
Nvidia's stock price surged Thursday after delivering another blowout quarter, setting off a rally in other technology companies that carried Wall Street to another record high.
The chipmaker, a central player in the boom surrounding artificial intelligence, soared 16.4%, leading the gains for tech companies and the market. Its stock has tripled over the past year thanks to a surge in investor enthusiasm for artificial intelligence. Synopsis, which makes software used to test and develop chips, rose 6.9% after raising its profit forecast.
Technology stocks have been the driving force behind the market's rally that started in October. Solid earnings from some of the biggest names in the sector are helping justify and reinforce those gains.
The S&P 500 rose 105.23 points, or 2.1%, to 5,087.03, an all-time high. The Nasdaq rose 460.75 points, or 3%, to 16,041.62. The Dow Jones Industrial Average, which has a smaller weighting in tech stocks, jumped 456.87 points, or 1.2%, to 39,069.11. That marks its first close above 39,000.
Compiled from Bloomberg and Associated Press reports.