Top 10 Technology News Headlines - Dec 16, 2024

Quantum Computing Advances Propel Tech Stocks: Recent developments in quantum computing have significantly impacted tech stocks. Google's announcement of its powerful Willow quantum-computing chip, capable of performing tasks in minutes that would take supercomputers 10 septillion years, has driven Alphabet's shares up nearly 10%. Similarly, Amazon's launch of its Quantum Embark advisory program has boosted its stock by 15%. Despite these advancements, quantum computing remains far from commercial viability.

Barron's

Dow Jones Futures Rise; Bitcoin Hits New High: On Monday morning, Dow Jones futures, S&P 500 futures, and Nasdaq futures all rose slightly, while Bitcoin reached a new all-time high of over $106,500 before settling below $104,000. This week, the final Federal Reserve meeting of 2024 is anticipated, with a potential quarter-point rate cut. The past week saw mixed results in the stock market, with the Nasdaq gaining slightly, supported by Alphabet and Broadcom hitting record highs. However, the broader market struggled due to rising Treasury yields, with the Dow Jones falling for seven consecutive sessions.

Investors

Palantir and Tesla Stocks Exceed Wall Street Targets: Palantir Technologies has emerged as the top-performing stock in the S&P 500 for 2024, driven by enthusiasm for artificial intelligence, leading to a significant 350% increase in its share price. Despite this rally, analysts remain cautious with a current consensus target price of $39, which is 50% below its current trading price. This stark contrast between analysts' projections and market performance is also observed in Tesla, whose median price target is 37% below its present value.

Barron's

China Unveils Spherical Robocops for Law Enforcement: China has introduced a new type of AI-powered, all-terrain spherical robocops known as the RT-G autonomous spherical robots. Developed by Logon Technology, these spherical bots are designed to detect and stop crime, potentially replacing human police in dangerous situations. The RT-G robots can operate on land and in water, and are built to withstand up to four tonnes of impact. Equipped with non-lethal police gear such as net guns, tear gas sprayers, and sound wave dispersal devices, the robots have been observed patrolling streets alongside human officers.

The Sun

AMD CEO Lisa Su Named 'CEO of the Year': Lisa Su, CEO of Advanced Micro Devices (AMD), has been pivotal in the company's turnaround over the last decade, leading it from financial struggles to becoming one of the world's top semiconductor companies. Under her leadership, AMD's stock has seen a nearly 50-fold increase, its CPU chip share has grown significantly, and it now powers major data centers and AI applications. Despite this progress, AMD faces significant challenges, including intense competition from its rivals Nvidia and Intel, and geopolitical tensions affecting chip manufacturing in Taiwan.

Time

Google Unveils Gemini 2.0 Amid Antitrust Scrutiny: Google has unveiled Gemini 2.0, its advanced AI technology designed to interpret images, perform tasks, interact with users, and enhance search capabilities. Positioned to compete with OpenAI and Microsoft's similar tools, Gemini 2.0 aims to anticipate needs, engage in complex reasoning, and enhance user experiences across Google’s products, initially available to certain test groups and subscribers. Despite facing regulatory challenges, including a potential breakup by the U.S. Justice Department over its monopolistic practices, Google is determined to continue evolving its AI technologies, incorporating them into its Chrome browser, maps, and YouTube next year.

AP News

Leonardo.Ai Founder Prioritizes Practical AI Applications Over Superintelligence: Leonardo.Ai's founder JJ Fiasson emphasized that practical applications and accuracy of AI are more crucial than developing superintelligence, which is the focus of OpenAI, as stated by its CEO Sam Altman. To boost AI research in Australia, Leonardo.Ai partners with the University of Technology Sydney to create a new PhD program, offering four scholarships that focus on safety, bias, efficient architecture, and deliberate forgetting in AI. The aim is to support local AI talent and ensure Australia's competitiveness in the global AI industry, projected to grow significantly by the end of the decade.

The Australian

TSMC Reports 34% Surge in November Sales Amid AI Boom: Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 34% increase in its November 2024 sales compared to the same month in 2023, reaching NT$ 276.06 billion (approx. $8.49 billion). This growth reflects the continuing demand for advanced microchips driven by the expansion of artificial intelligence (AI) technologies. TSMC, a key supplier to major tech companies such as Apple and Nvidia, has accumulated NT$ 2.62 trillion in revenue over the first 11 months of 2024, marking a 31.8% growth year-over-year.

MarketWatch

Capgemini Predicts AI Efficiency Gains to Soar in 'Second Innings': Capgemini's Australia CEO, Zhiwei Jiang, predicts a significant increase in the efficiency gains of Generative AI (Gen AI) as companies deepen their use of its reasoning abilities and AI agents. Currently in the "second innings", businesses have mostly used Gen AI for automation, but future applications could drive substantial business growth and new models by 2025-2026. Despite regulatory concerns and risks like bias and transparency, companies must balance these with the benefits of AI. Australian regulators are cautious, noting many firms lack proper AI governance. Commonwealth Bank and others are already seeing AI-driven improvements, and investments in AI are necessitating significant skill development across various disciplines. Capgemini foresees advancements in reasoning AI agents and AI-driven robotics by