5 Top Stories

AI Use Cases: Medicine, Defence, Cosmetics

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

AI Use Cases: Medicine, Defence, Cosmetics

Microsoft-backed [MSFT] OpenAI is to join forces with Los Alamos National Laboratory to explore how GPT-4o can be used to support scientific research. French artificial intelligence (AI) start-up Bioptimus is launching an open-source AI model called H-optimus-0, which will help diagnose diseases. AI start-up Helsing has raised €450m in venture capital to expand the presence of its weapons software on the EU’s border with Russia. Lastly, South Korean cosmetics giant AmorePacific [090430:KS] has launched a beauty lab that harnesses AI to recommend cosmetics.   

Apple Targets 10% Rise in iPhone Sales

The Cupertino company [AAPL] told suppliers and partners that it is aiming to ship at least 90 million iPhone 16s in H2, 10% more than it shipped in the second half of last year. Apple is confident that AI features will drive sales. By contrast, market tracker IDC has said that Apple’s $3,500 Vision Pro mixed-reality headset is facing a 75% drop in domestic sales in this quarter; it launched in the US in February.

EV Battery Breakthrough

International Battery Metals [IBATF] has become the first company to commercially produce lithium with a new type of filtration technology at a site in rural Utah controlled by US Magnesium. This breakthrough is widely expected to lead to cheaper and quicker supplies of the metal, Reuters reported. Elsewhere, amid a drop-off in demand for electric vehicles (EV), BASF [BASFY] is to review its drive to develop a global supply network for cathode materials. 

South Korea Gaming IPO: a Big Hit

The share price of Tencent-backed [TCEHY] South Korean game developer Shift Up [462870:KS] climbed 18% on its first day of trading, after its IPO raised ₩435bn, the country’s largest for a gaming company in nearly three years. Shift Up was founded in December 2013 by Hyung-Tae Kim — the company’s largest holder — and is known for mobile game Goddess of Victory: Nikke and console game Stellar Blade.

AMD Encroaches on Nvidia’s Turf

Advanced Micro Devices’ [AMD] shares climbed more than 3% on news of a $665m deal to acquire Finnish AI lab Silo AI. The Super Micro [SMCI] share price dropped 0.2% premarket Wednesday following commentary from two research firms. Wells Fargo analyst Aaron Rakers predicted an earnings update late next week, and said investors may be expecting an upside before then. Meanwhile Nomura downgraded the stock to ‘neutral’ from ‘buy’ over “already high expectations”.

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