Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Amazon revealed its Nova foundation AI models at the AWS conference, a move poised to disrupt the competitive AI landscape. With advanced content creation tools, Amazon is taking a direct shot at Adobe and Meta.
Amazon Unveils Foundation AI Models at AWS Conference
At its annual AWS conference, Amazon unveiled a stack of new AI platforms called foundation models. These models can generate text, images, and videos, among other things.
Its new products put it in competition with Adobe and Meta, two of its rivals in the race to attract clients looking to automate more of their services.
In a Tuesday announcement, Amazon CEO Andy Jassy unveiled the new "Nova" models. The new services were inspired by a wish list that the developers had, according to Jassy.
"They want better latency. They want lower cost. They want the ability to do fine tuning," Jassy explained.
Amazon Steps Up in AI Race Amid Industry Competition
At the Las Vegas conference, Amazon made its most significant moves to dispel rumors that it was left behind by rivals in the race to build artificial intelligence applications.
The announcement of new artificial intelligence applications for video generation from a single image or text cue has been quite popular, with companies including Adobe, Meta, OpenAI, and ByteDance—the parent company of TikTok—among many others.
Nova Reel Highlights Short Video Capabilities
The six-second films that customers may create with Amazon's Nova Reel software, the company announced on Tuesday, can be utilized for purposes such as product displays on the Amazon website. In the next few months, Amazon will roll out videos that can be up to two minutes long.
Technologists in the entertainment business can't wait to get their hands on these technologies so they can speed up and improve their filmmaking processes. Some people are still concerned that these systems could violate copyright laws.
Canvas Introduced for AI Image Generation
Also on Tuesday, Amazon announced Canvas, a tool it has created to create visuals based on brief written instructions. To make sure the software is used responsibly and to stop harmful content from being shared, Jassy said that Amazon would utilize watermarking.
Additional announcements made on Tuesday will help to reduce the time required to process and evaluate content.
