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Check out the 20:30 mark in this video, and then 52:30. They were claiming they had the next big thing in AI within weeks away from being released into BETA last summer, and showing investors slides of ChatGPT and other big chatboxes and their quick rise of massive numbers of subscribers, to try and entice investors into believing they didn't just have a product, but the next big thing to compare to these other names. What a joke.
But hey, at least the Co-founders and the rest of the staff get paid, while not one of them bothers to mess with insider purchases of their penny stock.
Shareholders have always taken a back seat with this company, and I don't see that changing anytime soon.
Well the good news, is that they've cut way back on the promotional BS, as they simply don't have the funds for it.
It used to be where they might have six or more months worth of financing most times, but not anymore. Its now quarter to quarter, and apparently the hype around G42 and its desire to fund operations while taking a portion of the company at a much higher valuation was just that. Now they're having to rely on LIFE offerings of a penny stock that's about to head much lower unless they add meaningful revenues, which is highly doubtful. These LIFE offerings allow Canadian entities to have stock offerings which have no holding periods, and my interpretation is that its a potential form of death spiral financing.
Oh and while we're talking about that wonderful filing, I can't help but point out that they list all funding costs as being "compromised", as opposed to comprised. How ironic, wouldn't you say?
According to the filing (page 9), the co-founders will be "earning" just over 1M off this latest amount raised, or about 10%. They've been raking it in for years financially with this, and one would think that with both the US and Canadian stocks trading for pennies on the dollar, that it would represent such a great opportunity to show investors that they believe in their own company buy purchasing shares on the open market. I guess when you're already loaded with so many freebie shares its pointless to them, but to everyone else that puts their hard earned money into this POS it's just another huge red flag, blowing in the wind.
And what is that Mapes does with this company that earns him a dime, anyway? Is he still doing field trips around the country or globe, talking about the evolution of mankind from apes and pond goo? I'm embarrassed to admit that I used to believe in this clown show. Friday's filing fills us all in what the focus really is all about, and just how far off this company is from literally any sort of relevancy. I'm wondering if it was required for the raising of funds in this latest round, as they're literally having to raise about 10M every quarter at this point just to keep the damn lights on. It looks like there is no lockup period for the shares that are about to hit, either. One thing is for certain. If those MNIST and Atari "Milestone" benchmarks don't amount to anything with G42 by the end of this year from a valuation/funding standpoint, there's going to be pandemonium amongst the investment community as both stocks continue to crater.
The likeliness of a major port strike has increased, and the ILA is expected to fight for its livelihood as it looks to prevent automation from becoming a thing at US ports. We haven't seen a whole lot of news about this, but the possibility of a major event surrounding the entire supply chain cannot be ignored.
https://theloadstar.com/shippers-eye-canadian-ports-as-us-east-coast-strike-looks-certain/
This right here is the type of contract that could take a company like this to true relevance.
Parking lot theft is just absurd, and when it comes to hotels, I can fully relate as I had to deal with hundreds of breakins over the years, the majority of which I was lucky enough to have my shift ended before the pissed off guest woke to find out. Eventually we stopped calling the police unless the actual vehicle owner was the one making the complaint. The only exception might be if weather was in play, as then the police really need to run the plates so we can wake their asses up to come down and deal with their mess. Otherwise, the police really aren't thrilled to be running plates for breakins.
One time I had just finished up most of my work, and had a fan running as it was relatively warm where I was at, and I thought I heard a squeaking tire noise. I turned off the fan just to be sure, and could hear a car starting to move and then breaking, about every ten to fifteen seconds. I ran to the back of the hotel and opened the door to the back part of the parking lot. One guy saw me and ran behind the cars on the left, while another took off on the right. A car then zipped off in each direction, but by then they had already broken into five vehicles. Considering the dangers of the area, I ran to the awning where I had my vehicle parked underneath, in case I needed my AK47. Working up in Fort Worth overnight you better have something available for protection.
In general, vehicles are rarely stolen, but breakins are very frequent with hotel parking lots, and I would imagine parking lots in general. Once we even had an employee have her cat converter stolen in broad daylight. She quits days later. Guests (and employees) want a safe environment, and hotel cameras are a complete joke, if they even work half the time. Another huge ass joke is hotels hiring a third party security firm, where incompetent, useless men and women patrol the parking lots in golf carts, but only when they're not sleeping or trying to hide in the hotel to flap their gums or take their tenth restroom break. Once we had one of these security members come into the hotel to report odd behavior at the bank next door. I recommended that he call the police if he felt it necessary, but he didn't wish to "get invovled". The next day that bank was robbed.
It seems as though a lot of the customers for this company's product are wanting to keep them on board, with some having very high claims of improved safety figures. When it comes to parking lots, its more about preventing theft and other issues than anything, and signing a deal like this with a private hospitality company could eventually lead to something much bigger with one of the major chains. I mean hell, even Pelaton managed to get their foot in the door with Hilton, forcing each franchise owner to add their bicycles, which were severely delayed in being shipped. These big chains LOVE to find ways for their franchise operators to spend money to offer their guests the most amenities, and forcing them to all take on yearly contracts with a security company like this just makes so much sense. The best part of an entire hotel chain taking on a security contract here in the US is that every other hotel chain would be expected to match it on some level.
The joke was on us as investors, as usual. There are those that defended the CEO's remarks, but when you post that maybe you can/can't comment by the end of the month, then you really are full of shit, and clearly wanted to mislead for some reason. They had absolutely zero ties with that company, but wanted to give the appearance that something big was in play, when in reality all it was is another promotion of a software that's continuously hyped but never actually available to anyone.
Months ago they claimed to have begun a large public beta of their Genius product, and where is it? Where is any of it?
Isn't that what G42 was supposed to be about? We kept hearing about how they would value the company in the billions with upcoming financing in play, but to date they haven't bothered with it, despite the company's cash burn rate and need for funding each quarter.
Port unions could make things even more interesting. They want a strike for October 1st, and port automation is one of their fighting points.
Ports closing down would be a logistics nightmare.
Yes same here. Thank you for your service.
My old man's ontos company was nearly wiped out, so I'm lucky to even be here.
If they were working with OpenAI and a part of Strawberry, the stock wouldn't be trading for pennies.
All of the messages on social media are a joke.
Why not offer it as a special divy?
Results were nothing special, IMO.
Can we at least hold $125 first?
I can't recall a single analyst coming out and decreasing their price target. Didn't that short seller analyst even come around with a higher target and buy call?
Suppliers already gave away what's coming.
AMD as well.
We all know who the leader is in this space, and those that love to use the world bubble are in for a nasty surprise.
I believe that a large amount was set aside previously to cover the lawsuit. Thats why the last quarter expenses weren't as high as the previous.
Its a plus for them, but the burn rate is still high and now they show zero for revenues as they allowed NRI to be free from under their contract, before signing a new one.
If there's no mention of the company working alongside OpenAI by the end of the month, I see some of the euphoria drying up with the stock.
I though that they just showed 10M cash on the books in their latest FINS, but can't remember the exact amount. Considering they burn through about that per quarter though, it isn't much.
I'm most intrigued by the fact that everyone is putting massive valuations and expectations on the hardware side, but Jensen has spoken about how they're actually a software company. I wonder if larger investors aren't buying into the software side of the revenue story, as even the analysts just talk about the hardware end.
It sounds like its a reduction in all of the mag 7s, which I think is actually smart in a way.
These guys have already made so much money, that spreading it out more and rotating a bit isn't a bad idea.
I'm actually more interested in where these billionaires are putting their money, rather than where they're reducing.
I keep hearing crypto investments?
Coming out with such a big product, I bet they already had extra wiggle room with regards to production time.
Otherwise they would have come out with a news release, as it would have been a material event.
Most of the analysts agree that it amounts to nothing.
Retest of $130 coming up..... Hold onto your butts.
And where's that helicopter, scouring the desert sands for a "safe" place to land to unload the dozen beagles searching for those quantum snacks?
Is the Discover Gold App functioning today? Where's muh AI agent?
Fun fact that I didn't know until yesterday.
Jensen is a second cousin, once removed of Lisa Su with AMD.
Learn something new every day.
Rosenblatt analyst Hans Mosesmann reiterated a Buy rating and $200.00 price target on NVIDIA
https://www.streetinsider.com/Analyst+Comments/Rosenblatt+on+NVIDIA+%28NVDA%29%3A+We+expect+Nvidia+to+beat+and+raise+its+July+quarter+print/23631755.html
Its not a bad video, I just wish they got rid of that shitty, subtle background music thats not needed.
Its moved up more than 30% in the past couple of weeks or so. Needs to breathe a bit.
Margins will remain very high, and what to do with all the billions of profit, when M&A options are limited due to government oversight?
Stock buybacks and special dividends?
You can also just copy a web address, just as you do an entire article, and past that and it should work fine.
I always try and copy the article's title, and paste that just above the link, so that the reader knows what to expect.
I don't like clicking on links anyway that don't have any subject matter, as it may be a virus.
Now when it comes to smartphones.... no idea. I mostly just use my smart phone as a...... phone.
Generative AI will never kill us.
Quantum AGI or ASI, however.
On the edge? More like the abyss, and on so many levels.
Its certainly not a need, but rather a really bad want. It makes you wonder how much of this is to push political agendas across, rather than actual use case scenarios that improve the company financially. I mean, I get the need to upgrade logistics, healthcare, manufacturing, and many other industries as technologies advance, but we're talking generative AI here folks, which is limited on siloed data and has hungry resource requirements for what it offers. I can't even fathom what type of capex they would look for when it comes to having early access to AGI agents, or general agency on the edge.
Iruletheworldmo seems to have a fascination about chrysalis, with both strawberries and butterflies.
https://www.tiktok.com/@iruletheworldmo
https://www.verses.ai/
He comes up just short of including Accenture as a partner, but one has to wonder given his perpetual optimism.
IIRC, I believe that he resides and works in Saudi Arabia, and its said that Verses could be speaking soon at an event in that region.
Vast amounts of money has been thrown around in this space for a little while now, and honestly 350M is nothing, especially for a company claiming it can cut costs significantly.
Assuming the financing round was all at once, 350M on the books would be a big deal, and cause such a massive short squeeze that I don't see shorts as a problem. G42 actually gets a discount on the valuation, so its not a true 3.5B valuation that they're investing into, but I do agree that there must be a major catalyst that causes them to dive in.
Its likely that they're already aware of such an upcoming catalyst, and felt the need to have the option to invest heavily. Whether its a deal with OpenAI or another company where Verses' Genius platform could top off an LLM and offer it AGI like features on the back end, that would certainly be considered a major catalyst. As you've noted, the company has been extremely silent for a while now.
Then there's this odd character..... As I posted on the Yahoo board last week, imagine coming out and making wild claims about how OpenAI is going to blow our minds with an Active Inference approach to AI, and even citing Karl Friston himself multiple times. The way I'm understanding things, I believe that this guy was an early tester of the Strawberry AI. Even further, he makes positive mention of Verses in another post with their research on RGMs. Then all of a sudden, he turns negative on Verses in a very, very long spiel that has many questioning his motives. If its true that the OpenAI is utilizing Active Inference, but turns out NOT to be working alongside Verses, there must be some funny business going IMO. For a company that put out a full page ad in the NYT looking to work alongside OpenAI back in December or thereabouts because of their charter, it would look terrible for not just OpenAI, but also Microsoft if they looked to circumvent using a similar approach.
OpenAI is about to blow your mind with Active Inference... So what is it?
— Ted Werbel (@tedx_ai) August 5, 2024
> First introduced in the early 2000s in a series of papers by neuroscientist and theoretical neurobiologist, Karl Friston - active inference is a theory of how the brain uses statistical inference and…
This if the first time that I've seen Verses not have any open positions for hire.
There's been literally complete silence surrounding the supposed "Large Public Beta" that was should have begun on June 20th for Genius, allowing developers access to their SDK to build agents. Far too silent, IMO, and now the company has come out with RGMs, and no longer talks down about llms, but rather how the two approaches are complementary.
I can't help but wonder if OpenAI, Microsoft, or another large player in the arena of AI has serious interest in buying them out, and if the co-founders are looking to sell. If the company was indeed working alongside this Strawberry model with OpenAI, it would at least help explain some of the silence as they're likely all-in on such a project. The Transformity Research letter seems to believe that its really happening, and claims sources in their material. I hope they're correct.
It was pulled.
Had to do with the anson funds and citron, and how it could potentially provide an explosive short squeeze if they were shorting Verses.