The week gone by was chock-full of significant developments in the realm of artificial intelligence (AI). From Elon Musk dispelling rumors about his AI start-up raising capital to tech giants backing President Biden’s project to democratize AI research, and Apple hinting at integrating generative AI into iPhones, there was plenty to talk about. Moreover, concerns about deepfake attacks affecting the US elections have been raised, and Musk’s Tesla plans to purchase chips from AMD and invest heavily in Nvidia hardware.

Elon Musk, founder of AI startup xAI, refuted claims last Friday that his company is currently in the process of raising capital. His rebuttal came in response to a Financial Times story alleging that xAI is looking to raise $6 billion, with a speculated valuation of $20 billion. Musk vehemently denied these claims, stating that he has not held any such discussions. Read the full article here.

Big tech companies including Microsoft Corp. (NASDAQ:MSFT), Nvidia Corp. (NASDAQ:NVDA), and Meta Platforms Inc. (NASDAQ:META) have announced their support for President Joe Biden’s initiative to make AI research more accessible. The U.S. National Science Foundation has launched the National Artificial Intelligence Research Resource pilot, a collaborative venture involving federal agencies, private sector companies, and nonprofit organizations, aiming to provide advanced computing resources to U.S.-based researchers and educators. Read the full article here.

Recent acquisition reports, job postings, and academic papers reveal that Apple Inc. (NASDAQ:AAPL) is likely ramping up efforts to integrate generative AI into its iPhones. This is part of a larger strategy to improve device capabilities and foster innovation in the tech sector. Apple’s heavy investment in AI technology and recent hardware innovations, such as the M3 Max processor and the S9 chip, signal a move towards AI and machine learning. Read the full article here.

As the U.S. election cycle gets underway, AI-generated deepfakes have begun to circulate on social media, causing concern among lawmakers and citizens. Fake explicit images of singer Taylor Swift, altered voice clips of President Joe Biden, and videos featuring deceased children have been widely shared. The White House has expressed its concern over the spread of these false images. Read the full article here.

In a recent announcement, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk revealed plans to buy chips from Advanced Micro Devices Inc. (NASDAQ:AMD) to further AI advancements, in addition to investing over $500 million in hardware from Nvidia Corp. (NASDAQ:NVDA). Musk confirmed these plans while responding to reports of Tesla investing $500 million to install a Dojo supercomputer in Buffalo, New York. Read the full article here.