The big picture: The tech industry is riding a new high amid a frenzy fueled by AI. Big Tech companies have been plowing huge sums to build out the necessary infrastructure to meet what they perceive demand will be for these products in the coming years. One analyst warns however that the industry needs to stop and consider whether the actual revenue generated by AI will be enough to support these investments.
In context: We've noticed a burning sensation in our pockets lately. Not the bite of inflation, but an actual heat source coming from our phones. Maybe it is 5G, maybe it is a design decision made by Apple, or by TSMC, whatever the reason, our smartphone runs hot.
Why it matters: OpenAI launched GPT-4 this week, an update to its popular language model and technology that aims to improve precision and is designed to act as an underlying engine for chatbots, search engines, online tutors, and more. GPT-4 is now available to paid subscribers and there's a waitlist to use the model via API. Furthermore, the AI race is on, with "AI startups" raising funds like there is no tomorrow and big tech companies like Google scrambling to make it known that they are not so far behind.