Google is to establish its first robotic science laboratory in the UK, a move expected to boost the country's artificial intelligence ambitions. The lab will focus on materials science research and utilize "world-class robotics" to synthesize and characterize hundreds of materials per day. This goal aims to significantly shorten the timeline for discovering transformative new materials.
Discovering new materials is crucial in science, offering potential benefits such as reducing costs and enabling entirely new technologies. For instance, superconductors that operate at ambient temperature and pressure could facilitate low-cost medical imaging and reduce power loss in electrical grids. Other novel materials might help tackle critical energy challenges by unlocking advanced batteries, next-generation solar cells, and more efficient computer chips.
DeepMind, a leading AI research organization run by Sir Demis Hassabis, will oversee the development of this laboratory. This move comes on the heels of DeepMind's recent success in using AI to predict and design protein structures, earning it the Nobel Prize for Chemistry last year.
Shares in European semiconductor and tech firms have fallen following Oracle's disappointing earnings report. The STOXX Europe Technology index is down 0.8% after Oracle missed market expectations. In related news, power company Drax is preparing plans to add one gigawatt of data center capacity to its Yorkshire power plant.
Oracle's results, released last night, revealed a surge in spending on AI data centers and a significant increase in capital expenditure for the next fiscal year. The company expects this investment to reach $50 billion by 2026, up from an initial forecast of $35 billion. This increase in spending has raised concerns about the profitability of the AI industry.
Financial analysts have cut their target prices for Oracle's shares following the disappointing results and subsequent decline in after-hours trading. Bank of America lowered its price objective to $300 from $368, while Barclays reduced its target price to $310 from $330.
The news is also having an impact on other AI-related stocks. In Japan, SoftBank Group has seen a 7.7% drop in shares, contributing to the Nikkei 225 index's decline. Market analysts attribute this decline to concerns about Oracle's data center project and its potential impact on revenue generation.
Overall, these developments underscore the challenges facing companies investing in artificial intelligence and highlight the need for caution when assessing their financial prospects.
Discovering new materials is crucial in science, offering potential benefits such as reducing costs and enabling entirely new technologies. For instance, superconductors that operate at ambient temperature and pressure could facilitate low-cost medical imaging and reduce power loss in electrical grids. Other novel materials might help tackle critical energy challenges by unlocking advanced batteries, next-generation solar cells, and more efficient computer chips.
DeepMind, a leading AI research organization run by Sir Demis Hassabis, will oversee the development of this laboratory. This move comes on the heels of DeepMind's recent success in using AI to predict and design protein structures, earning it the Nobel Prize for Chemistry last year.
Shares in European semiconductor and tech firms have fallen following Oracle's disappointing earnings report. The STOXX Europe Technology index is down 0.8% after Oracle missed market expectations. In related news, power company Drax is preparing plans to add one gigawatt of data center capacity to its Yorkshire power plant.
Oracle's results, released last night, revealed a surge in spending on AI data centers and a significant increase in capital expenditure for the next fiscal year. The company expects this investment to reach $50 billion by 2026, up from an initial forecast of $35 billion. This increase in spending has raised concerns about the profitability of the AI industry.
Financial analysts have cut their target prices for Oracle's shares following the disappointing results and subsequent decline in after-hours trading. Bank of America lowered its price objective to $300 from $368, while Barclays reduced its target price to $310 from $330.
The news is also having an impact on other AI-related stocks. In Japan, SoftBank Group has seen a 7.7% drop in shares, contributing to the Nikkei 225 index's decline. Market analysts attribute this decline to concerns about Oracle's data center project and its potential impact on revenue generation.
Overall, these developments underscore the challenges facing companies investing in artificial intelligence and highlight the need for caution when assessing their financial prospects.