Plus, Nvidia’s CEO Jensen Huang says businesses should become AI-powered organizations. And Dye & Durham says it's considering a sale as part of its ongoing strategic review process. Zoe Thomas hosts.
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[00:00:03] [SPEAKER_00]: Exchanges on the market impact of AI. For the sharpest analysis on forces driving the markets and the economy, count on exchanges between the leading minds at Goldman Sachs. New episodes every week. Listen now.
[00:00:31] [SPEAKER_01]: Here's your TNB Tech Minute for Tuesday, October 22nd. I'm Zoe Thomas for The Wall Street Journal.
[00:00:38] [SPEAKER_01]: Netflix is pulling the plug on its plans to develop its own high-end video game known as a AAA title less than a year into development.
[00:00:48] [SPEAKER_01]: Instead, Netflix will focus on producing casual games. A spokeswoman confirmed that the company ended the AAA title effort earlier this month.
[00:00:57] [SPEAKER_01]: Netflix laid off a team of about 30 people. The project was a multiplayer shooter game, a person familiar with the matter said.
[00:01:05] [SPEAKER_01]: Netflix has added AAA games from third parties to its platform and could still add others.
[00:01:11] [SPEAKER_01]: Netflix moved into video games in 2021. So far, it's launched more than 100 games, mostly casual ones designed for playing on mobile devices.
[00:01:21] [SPEAKER_01]: Nvidia CEO Jensen Huang told thousands of business technology leaders today that their companies need to prepare for a, quote,
[00:01:29] [SPEAKER_01]: new industrial revolution by becoming artificial intelligence-powered organizations.
[00:01:34] [SPEAKER_01]: The chip maker has been one of the biggest beneficiaries of the AI boom.
[00:01:39] [SPEAKER_01]: Huang was speaking at market research and consulting firm Gartner's IT symposium event in Orlando.
[00:01:45] [SPEAKER_01]: He said Nvidia is already putting AI to work in areas including designing chips, writing software, and managing its supply chain.
[00:01:54] [SPEAKER_01]: In the long term, Nvidia is creating what Huang calls its own AI brain, which knows how the company works, its business processes, and customer interactions.
[00:02:04] [SPEAKER_01]: And Diane Durham, a cloud-based software and technology company, says it's exploring a sale as part of an expanded strategic review.
[00:02:13] [SPEAKER_01]: The move comes after some investors expressed concern about the company spending money on acquisitions instead of paying down its debt.
[00:02:20] [SPEAKER_01]: The company had already announced the review, but today added that it would include options such as a sale of the company, merger, or divestiture of assets.
[00:02:29] [SPEAKER_01]: Diane Durham has also said its strategic review may not result in any transaction, and added there is no timeline for the completion of the process.
[00:02:38] [SPEAKER_01]: For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.