Things might look very different in 3-4 years. However the legal games play out, Google is not going to be broken up any time soon and with market share loss in digital advertising and dislocation in the search market, Google is going to have a strong case for an appeal. Google is under assault on all fronts with its search...
Problems look temporary and create an opportunity Samsung has reported good results but made a rare apology to investors for its continued inability to catch up with its competitors in high bandwidth memory (HBM) which is critical for training large language models raising concerns that its dominance of memory may finally be flagging. This weakness has caused an exodus from...
Google is on the defensive. E-marketer expects that Google’s market share in US search advertising will drop below 50% in 2025 mainly as others properly monetise their traffic, but this will fuel the debate over the impact of generative AI on an industry that Google has ruled for over 20 years. In 2018, Google’s market share stood at just over...
A very cautious update. Microsoft has launched an updated version of Copilot and while Microsoft remains extremely risk-adverse, I think Microsoft has produced a better product than OpenAI even though both are using the same technology. Copilot exists in two forms (cloud and device) and this update makes it clear that the two iterations will increasingly be indistinguishable from one...
A big hangover is yet to come. OpenAI has capitalised on investors’ desperation to invest by raising $6.6bn at a post-money valuation of $157bn and setting very unusual terms that are yet another indication that AI remains in the midst of its 4th and largest bubble. In a short press release, OpenAI announced its fundraising and also went on to...
This time it should work properly. OpenAI is not launching a new model this year, but it is joining everyone else in declaring that voice assistants are the next big thing just as everyone did in 2018 but this time, there is a good chance that 2018’s hype becomes a reality. Crucially, OpenAI is also opening up GPT4o to developers...
One customer is a tough risk to swallow at $7.4bn. Cerebras Systems has filed for an IPO at a mooted valuation of $7.4bn (Bloomberg) but with almost all of its revenues coming from one customer and the tough challenge of taking share from Nvidia in this generation of AI, 28x 2024 revenues and 14x 2025 revenues is a tough pill...
Apple is back to front but can easily flip. While the commentariat is impressed with Meta Platform’s new Orion AR device, it is also unusually critical of Apple which it thinks has made the wrong technical choice, but I suspect that Apple has got much more up its sleeve than everyone thinks. Although there appears to be a lot of...
Meta moves first to take unclaimed territory. Meta showcased the results of billions of dollars of investment and at the same time was not shy of taking shots at its competitors as it staked its claim to the next generation of the digital ecosystem. Connect is Meta’s showcase for developers where the focus this year was all about AI and...
Richard is founder, owner of research company, Radio Free Mobile. He has 16 years of experience working in sell side equity research. During his 11 year tenure at Nomura Securities, he focused on the equity coverage of the Global Technology sector.
OpenAI – Unpalatable Confection.
OpenAI wants to have its cake and eat it. What was going to become a for-profit entity subject to all the forces that hone companies into efficient cash printing machines that benefit their shareholders and employees will now be a Public Benefit Corporation (PBC) that will give OpenAI extra space to shield management from the consequences of its bad...