Plus: Meta CEO Mark Zuckerberg calls for policies that accelerate AI development. And DoorDash is building its own drone delivery network. Imani Moise hosts.
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[00:00:01] Here's your morning TNB Tech Minute for Wednesday, July 29th. I'm Imani Moise for The Wall Street Journal. SK Hynix reported a record quarterly net profit today, and its stock fell nearly 10%. In just three months, the memory chip maker earned a net profit of about $64 billion. That's 13 times what they earned a year ago, and more than the company's combined net profit for the past five years.
[00:00:25] Yet the figure fell short of some bullish investor expectations, and fanned fears about the durability of the AI boom. The stock fell as much as 19.6% during trading hours in Asia, before finishing down 9.6%. Shares in fellow South Korean chip maker Samsung Electronics also fell. Meta CEO Mark Zuckerberg said AI discourse should be more optimistic and warned against restricting access to the technology.
[00:00:53] In an opinion column for the journal, Zuckerberg said super intelligence or smarter than human AI will be, quote, the most profound technological advance we will see in our lifetimes. But he cautioned against its power being restricted to a select few institutions. Zuckerberg lends a high-profile accelerationist voice to America's debate over how to develop and regulate increasingly powerful AI models as his company races to catch up to rivals, including Anthropic and OpenAI.
[00:01:22] And DoorDash plans to build its own aircraft and end-to-end aerial network. The San Francisco-based company has announced it secured a key certification from the Federal Aviation Administration to make commercial deliveries using drones. In addition to developing its own drones, the company is building out ground infrastructure and digital systems needed to coordinate order pickup and delivery. DoorDash has offered drone deliveries in some areas of the U.S. for the past four years through deals with operators like Wing and Flytrex,
[00:01:52] and said it plans to continue those partnerships. That's your TNB Tech Minute. We'll be back this afternoon with more. We're going to see you later.