B.Grimm, Digital Edge to Invest $1 Billion in Thai Data Center
The data center, which will have a capacity of 100 megawatts, is expected to begin commercial operations in the fourth quarter of 2026, B.Grimm Power's Chief Executive Officer Harald Link and Digital Edge CEO John Freeman said during a joint press briefing on Monday. It will be located in eastern Chon Buri province, about 100 kilometers (62 miles) from Bangkok.
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4 hours ago
- Yahoo
CEO Says AI Is Taking On 'Soul-Crushing Jobs' With Agents That Work 24/7, Never Eat, And Never Need Benefits
Artificial intelligence is rapidly reshaping how major companies run their operations, with some executives saying it's already transforming the workforce. ServiceNow Inc. (NYSE:NOW) CEO Bill McDermott says AI agents are taking over repetitive, draining work—and doing it without lunch breaks or healthcare benefits. AI Steps Into Support Roles "We're slowing down the hiring in jobs that are, quite frankly, soul-crushing jobs," McDermott said in a recent interview with Bloomberg, pointing to IT support as an example. He said 97% of standard software is now generated by AI, and 80% of customer inquiries are fully managed by AI agents. Security and risk management tasks, patchwork, and change management are also handled by these systems. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Bill Gates Warned About Water Scarcity. "They work hard 24 by seven. You don't have to pay them and they don't need any lunch and they don't have any health care benefits," McDermott said. "AI is affordable and complements our workforce." While ServiceNow is still hiring, it's adding fewer people to these support roles. McDermott predicts other well-run companies will follow the same path, reorganizing around AI and moving away from traditional 20th-century corporate structures. Industry-Wide Shift Salesforce (NYSE:CRM) CEO Marc Benioff told Bloomberg in June that AI now accounts for 30% to 50% of his company's workload, calling the trend a "digital labor revolution." The company has restructured around AI and cut more than 1,000 jobs this year. Benioff says Salesforce's AI operates at about 93% accuracy and is helping employees focus on higher-value tasks. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Meanwhile, Goldman Sachs (NYSE:GS) has also warned that AI's effects on the job market are already being felt, especially by younger workers. The bank says unemployment for tech workers ages 20 to 30 has risen nearly 3 percentage points since early 2024. That's more than four times the increase in the overall jobless rate. According to Business Insider, Goldman Sachs Chief Economist Jan Hatzius estimates generative AI will eventually replace 6% to 7% of U.S. jobs within a decade, though many workers could find roles in other industries. McDermott praised the president's recent AI action plan, saying, "We need less regulation and more innovation." He said the government should run more efficiently and transparently, adding that ServiceNow has worked in the public sector for years to achieve those Over AI's Human Cost Still, the idea of replacing large numbers of human jobs with AI is deeply troubling to labor advocates, economists and even tech executives. They warn that corporate enthusiasm for machines that never tire, never demand raises, and never get sick could strip millions of people of their livelihoods. As former Google X executive Mo Gawdat put it in a podcast recently, "CEOs are celebrating that they can now get rid of people and have productivity gains and cost reductions because AI can do that job. The one thing they don't think of is AI will replace them, too." Read Next: In a $34 Trillion Debt Era, The Right AI Could Be Your Financial Advantage — UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article CEO Says AI Is Taking On 'Soul-Crushing Jobs' With Agents That Work 24/7, Never Eat, And Never Need Benefits originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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5 hours ago
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Better Artificial Intelligence Stock: SoundHound AI vs. BigBear.ai
Key Points The artificial intelligence sector is thriving, which could make SoundHound AI or compelling investments. SoundHound saw second-quarter sales soar 217% year over year, while is working on international expansion. Neither company is profitable, and both experienced year-over-year increases in their operating losses. 10 stocks we like better than SoundHound AI › Artificial intelligence (AI) stocks remain hot despite the uncertainty thrust into the macroeconomic environment by the Trump Administration's tariff approach. For example, at the time of this writing, shares of AI darling Nvidia are up 35% and rival AMD's stock jumped more than 50% in 2025 through Aug. 13. But this doesn't mean all AI stocks are good investments. Some should be avoided. Take, for instance, shares of SoundHound AI (NASDAQ: SOUN) and (NYSE: BBAI), both of which recently reported second-quarter results. One of these stocks is the better investment in the burgeoning field of AI. To understand which one and why, here's a look at both companies. SoundHound AI's strengths and shortcomings SoundHound focuses on applying artificial intelligence to voice and audio applications. For instance, its AI takes food orders by phone and at drive-thrus for restaurant clients such as Chipotle. The company's technology is proving successful, as demonstrated by revenue reaching an all-time high of $42.7 million in the second quarter. The Q2 sum represented an impressive 217% year-over-year increase. Thanks to the outstanding quarter, SoundHound raised its revenue outlook for 2025. The company expects sales of $160 to $178 million, which would represent sizable growth from the $84.7 million generated in 2024. Despite strong sales, SoundHound's business is not profitable. Its Q2 operating expenses skyrocketed 241% to $120.7 million due to costs related to some acquisitions. Consequently, it exited Q2 with an operating loss of $78.1 million, a 255% increase from 2024's loss of $22 million. Even so, management believes the company can reach profitability on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis by the end of the year. SoundHound's adjusted EBITDA stood at a loss of $14.3 million in Q2. and government spending cuts provides artificial intelligence solutions centered around national security and infrastructure. For example, it provides facial recognition technology to several airports, including ones located in Los Angeles, New York, and Chicago. The majority of income stems from contracts with the U.S. government. However, the Trump Administration began cost-cutting efforts this year. As a result, the company saw sales fall 18% year over year to $32.5 million in Q2. Because of this, reduced its 2025 revenue outlook to a range of $125 to $140 million. It originally forecast sales of $160 to $180 million. In 2024, it delivered $158.2 million in revenue. Moreover, like SoundHound, is not profitable. Its Q2 operating loss totaled $90.3 million versus $16.7 million in the previous year, primarily due to a goodwill impairment charge of $70.6 million. The company is going through a challenging period due to the federal government's spending cuts, but it's seeking other customers. It signed an agreement with businesses in the United Arab Emirates that represents "the beginning of our international expansion," according to CEO Kevin McAleenan. Perhaps this signals new opportunities for growth. Making a choice between SoundHound AI and After examining the current state of SoundHound and the former stands out as the superior investment in the artificial intelligence sector. It's worth revisiting in the future to see if it rebounds from the loss of U.S. government income. But at this moment, SoundHound is the better stock. SoundHound's record revenue is a testament to the traction its technology is gaining in the market, while its goal to reach adjusted EBITDA profitability shows a commitment toward eventually becoming a profitable business. SoundHound's balance sheet is solid as well. At the end of Q2, the company had zero debt and cash and equivalents of $230.3 million. This cash hoard alone eclipses total Q2 liabilities of $219.7 million. Does SoundHound's success mean now is the time to pick up its shares? The price-to-sales (P/S) ratio is useful for answering this question, since it measures how much investors are willing to pay for every dollar of revenue produced over the trailing 12 months. Although SoundHound's P/S multiple has dropped from the start of 2025, it's still high, indicating SoundHound shares are pricey. An argument can be made that the company's stupendous revenue growth justifies the elevated valuation, just as lower P/S ratio makes sense given its sinking sales. Still, because the chart shows SoundHound's sales multiple is on an upswing, it's ideal to wait for the stock price to drop before considering an investment. Should you buy stock in SoundHound AI right now? Before you buy stock in SoundHound AI, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and SoundHound AI wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Robert Izquierdo has positions in Advanced Micro Devices, Chipotle Mexican Grill, Nvidia, and SoundHound AI. The Motley Fool has positions in and recommends Advanced Micro Devices, Chipotle Mexican Grill, and Nvidia. The Motley Fool recommends the following options: short September 2025 $60 calls on Chipotle Mexican Grill. The Motley Fool has a disclosure policy. Better Artificial Intelligence Stock: SoundHound AI vs. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 hours ago
- Yahoo
Mohamed bin Zayed University of Artificial Intelligence begins new academic year with largest-ever cohort of 400+ students
ABU DHABI,UAE, Aug. 16, 2025 /CNW/ -- Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has welcomed its largest cohort for its Fall 2025 intake, enrolling 403 new students. This includes its inaugural undergraduate class, new graduate cohorts in existing programmes in Computer Science, Computer Vision, Machine Learning, Natural Language Processing, and Robotics, and the first intakes into the Master of Science in Statistics & Data Science and Master in Applied Artificial Intelligence. This semester received more than 8,000 applications across the university's Bachelor and graduate programmes, yielding an acceptance rate of 5 per cent, and reinforcing the university's prestigious position and ability to attract the best talent in the UAE and from around the world. Timothy Baldwin, MBZUAI Provost and Professor of Natural Language Processing, said: "This year, MBZUAI welcomes our largest cohort of graduate students alongside our inaugural undergraduate class. Artificial intelligence is transforming the world at a pace that vastly outstrips traditional education models. To realise its full global potential, MBZUAI invests heavily in reviewing and updating our programmes to reflect modern AI research methodology and workflows, based on our bleeding-edge AI research credentials and grounded in societal and industrial needs. As a young institution, MBZUAI has already earned a place among the world's top 10 AI universities based on our research credentials. With the introduction of our undergraduate and Master's in Applied AI programmes, we continue to build world-leading programmes aligned with the UAE's National Strategy for AI 2031 and supporting Abu Dhabi's rapidly growing AI ecosystem." The newly launched Bachelor of Science in Artificial Intelligence programme offers two streams, AI for Business and AI for Engineering, combining technical rigor with leadership, hands-on entrepreneurship, and in-situ industry experience. The first class consists of 115 undergraduate students from more than 25 countries, over 25 per cent of which are UAE Nationals. Professor Baldwin said: "The jobs of tomorrow are being shaped by AI today and we must ensure that future generations are equipped with the tools and skills to navigate that shift. Our extraordinarily talented students don't just learn about AI, but learn with it, through it, and for it. This is an extraordinary value proposition across all our programmes, but especially for our undergraduate students, who will be studying towards a bachelor's degree in AI that I believe sets a new global benchmark in terms of technical depth, real-world relevance, and the high-end AI job-readiness of the students." The key highlights for the Fall 2025 intake includes MBZUAI's total student body totaling more than 700, representing over 47 nationalities. Nationalities represented in the undergraduate programmes are Bulgaria, China, Egypt, Georgia, Greece, India, Indonesia, Kazakhstan, the UAE and the UK. Postgraduate programmes bring together students from Canada, China, Egypt, France, India, Italy, Kazakhstan, Serbia, UAE, UK, USA and Vietnam. MBZUAI continues to attract exceptional students, with 151 of the incoming graduate students (27.5 per cent) holding degrees from the world's top 100 computer science universities (CSRankings), including Cornell University, Tsinghua University, the University of Edinburgh, and the University of California, San Diego. In welcoming the new students, MBZUAI has begun its immersive Orientation Week, introducing new students to the university's culture of academic excellence, AI-driven innovation, and community engagement. The programme combines academic sessions, mentorship activities, and cultural programming celebrating UAE heritage and life in Abu Dhabi. Highlights include the Orientation Mini Fair, where internal and external partners showcase resources for academic success, career development, and student life. Orientation Week is designed to foster a strong sense of belonging and connection, laying the foundation for academic success and life-changing university experiences. For more information, visit Media Contact:Noorul Tharola View original content to download multimedia: SOURCE Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) View original content to download multimedia:
