20-year pro trader reveals “Moneyline”
Ditch the indicators and use the “Money Line”. A simple line that tells you when to buy or sell without the guesswork. It's the line on a chart that helped Nic Chahine win 83% of his options purchases. This is how he does it.
Touchcast Co., Ltd.is a startup focused on caching generative artificial intelligence queries and is set to raise $100 million from venture backers: Microsoft (NASDAQ:MSFT), Investors Open AI.
The New York-based company aims to store and deliver responses to frequently used AI prompts, reducing the computational and energy requirements of models such as OpenAI's GPT-4.
The initiative aims to reduce costs and improve deployment efficiency for developers and businesses, Bloomberg reported.
Accenture (NYSE:ACN)-backed Touchcast is expected to reach a valuation of at least $350 million after the new funding, its CEO said. Ed Segal.
Details of Microsoft's investment were not disclosed, but Segal said discussions were underway with major Silicon Valley investors.
As businesses increasingly turn to AI to streamline everyday operations, the growing demand has highlighted a severe shortage of GPUs, which are essential for training and running AI models, Bloomberg reports.
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Segal noted that Touchcast's approach aims to optimize computing and energy resources.
Touchcast recently introduced its cognitive caching content delivery technology, which Segal likens to putting multiple small library desks in a large library to make accessing information more efficient.
“When users ask the same question, they end up hitting our massive language models over and over again,” Segal says. And in today's AI-driven web, “a new class of infrastructure is essential to deliver these magical experiences sustainably at internet scale.”
Touchcast is collaborating with Microsoft to enhance and expand the delivery of generative AI queries.
This includes deploying cognitive caching technology across Microsoft's Azure data centers to reduce the cost of Azure OpenAI tools.
Microsoft shares have risen over 22% over the past 12 months. Investors can get exposure to the stock in the following ways: Technology Select Sector SPDR Fund (NYSE:XLK) and IShares US Technology ETF (NYSE:IYW).
Disclaimer: This content was produced in part with the help of AI tools and was reviewed and published by Benzinga editors.
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20-year pro trader reveals “Moneyline”
Ditch the indicators and use the “Money Line”. A simple line that tells you when to buy or sell without any guesswork. This is the line on a chart that helped Nic Chahine win 83% of his options purchases. This is how he does it.
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