As the five-day-long power struggle at OpenAI comes to an end with Sam Altman’s reinstatement, Adobe is moving to up its generative AI game. According to a report in the Economic Times, the content software major has circulated an internal memo announcing the acquisition of California-headquartered text-to-video company Rephrase. While the cost of the deal remains undisclosed, the move is…

Nvidia reported record revenue today for its third fiscal quarter of fiscal 2024 (ending October 31, 2023), beating Wall Street’s expectations. The graphics processing unit (GPU) and AI chip company reported record Q3 revenue of $18.2 billion, up 206% year-over-year and 34% sequentially. Nvidia’s data center segment grew 279% annually and 41% sequentially to $14.51 billion, representing 79%…