Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
IBM (NYSE:IBM), Alibaba (NYSE:BABA), and Huawei have each signed a memorandum of understanding with Saudi Arabia’s artificial intelligence authority.
Huawei will help Saudi Arabia develop Arabic language recognition in AI.
Alibaba will collaborate on smart cities, and IBM will step in with a healthcare focused collaboration.
In 2016, Saudi Arabia released the Saudi Vision 2030 framework for reducing the dependence on oil and diversify the economy.
Earlier this year the Saudi Data and Artificial Intelligence Authority launched its brand identity, aiming to establish Saudi Arabia among the world leaders in AI technology, which is expected to contribute 12.4% of the GDP by 2030.
IBM offers the Watson AI solutions, which are a primary focus for the company along with hybrid cloud.
Alibaba has AI offerings tied to its Alibaba Cloud platform and last year launched its first chip to power AI processors.
Huawei, currently under a U.S. supplier ban, also released an AI processor in 2019.
Related: IBM’s increasing focus on the AI and cloud businesses led to the company’s plan to spin off the managed infrastructure services of its Global Technology Solutions segment.
Post updated with additional background information.
IBM (IBM +0.4%) and Pfizer (PFE +1.0%) have published research in The Lancet eClinicalMedicine outlining the duo’s AI-backed approach to diagnosing Alzheimer’s years before symptoms occur.
The researches developed an AI model that uses samples of language data (obtained from clinical cognitive verbal tests) to predict with 71% accuracy the eventual onset of the disease within seemingly healthy people who don’t have any Alzheimer’s risk factors.
IBM says the “work is part of a larger platform IBM Research is building to better understand neurological health and chronic illnesses through biomarkers and signals in speech and language.”
Sabre (NASDAQ:SABR) shares are up 15% after the company announced working with Google (GOOG +1.4%)(GOOGL +1.4%) on an AI-backed travel platform.
Sabre Travel AI, backed by Google’s artificial intelligence tech and advanced machine learning capabilities, will provide customers with relevant, customized content quickly.
The travel tech company will integrate the platform into certain existing products, which will hit market early next year.
“With the creation of Sabre Travel AI, we are rebuilding our platform on cloud-native, data-driven technology that can be integrated into the existing and future products that Sabre offers. We are combining Google Cloud’s infrastructure, AI and machine-learning capabilities with Sabre’s deep travel domain knowledge to create, not next, but third-generation solutions that we believe are smarter, faster and more cost-effective – a first-of-its kind in travel,” says Sabre Labs president Sundar Narasimhan.
Intel (NASDAQ:INTC) shares slide 10.3% AH after the Q3 revenue beat, in-line profit, and raised full-year guidance were offset by the surprise decline in the Data Center Group.
Data-centric revenue was down 10% Y/Y overall with DCG down 7% Y/Y to $5.9B, below the $6.22B consensus.
Within DCG, cloud revenue was up 15%, while the Enterprise & Government market was down 47% after two quarters of 30%+ growth due to the pandemic-related economic strain.
PC-centric revenue was up 1% to $9.8B as the pandemic tailwind continues for the PC industry.
10nm update: Intel says its third 10nm facility (located in Arizona) is now fully operational, and the company expects to ship 30% higher production volumes this year than forecast in January.
For Q4, Intel forecasts $17.4B in revenue (consensus: $17.38B), 26.5% operating margin, and $1.10 EPS (consensus: $1.07). PC-centric revenue is expected to be down low single digits Y/Y, and Data-centric is guided down 25%.
For the year, Intel sees revenue of $75.3B vs. $75B prior guidance and the $75.16B consensus. EPS is raised from $4.85 to $4.90 compared to the $4.85 consensus. PC-centric and Data-centric sales are expected up mid-single digits Y/Y.
Intel rival AMD (NASDAQ:AMD) is up 0.7% AH.
Cybersecurity pioneer McAfee (MCFE) starts its first trade at $18.60, which is 7% below the IPO price of $20.
The offering raised $740M after pricing near the lower end of the prior $19-22 range.
McAfee listed 30.98M Class A shares and the other 6.017M came from selling shareholders. Underwriters have the option to purchase 5.5M additional shares.
Previously: Cybersecurity giant McAfee prices IPO at $20 (Oct. 22 2020)
