Beyond OpenAI: The rise of not-too-large language models

August 23, 2024: Rise of Vertical AI Models - Smaller, industry-specific AI models, dubbed VLMs, are gaining traction as companies like Nvidia, Microsoft, and OpenAI focus on efficiency and data governance. Chinese startups also explore these models to circumvent Nvidia GPU export controls. Major corporate and earnings movements include AMDs acquisition of ZT Systems, Grafana Labs $270M funding, and Snowflakes stock drop. New AI models and services from major players like Salesforce, Waymo, and Google Cloud were announced. Additionally, significant cyberattacks and regulatory updates further shaped the tech landscape this week.