With the artificial intelligence story just getting started, there’s plenty of upside potential for AI-related stocks, such as VERSES AI (CBOE: VERS) (OTCQB: VRSSF), Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), Meta (NASDAQ: META), and Advanced Micro Devices (NASDAQ: AMD). For one, by 2026, the global AI market could be worth about $228.3 billion, according to Global Industry Analysts. By 2030, it could be closer to $1.81 trillion, according to Grand View Research. In addition, artificial intelligence-related spending will make up about 8% to 10% of IT budgets in 2024, according to Wedbush.
Two, Apple just jumped into the AI boom, announcing it introduced a range of new AI features, including an upgrade to its voice assistant Siri, integration with Open AI’s Chat GPT, and new writing assistance tools. In addition, “Gartner forecasts global spending on AI software will surge to $297B by 2027 as software vendors continue to integrated AI tools into products. The research firm expects more than 70% of independent software vendors will embed GenAI into their enterprise applications by 2026,” added Seeking Alpha.
Look at VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF), For Example
VERSES AI Inc., a cognitive computing company developing next-generation intelligent software systems announces that it has entered into a funding agreement with Group 42 Holding Ltd., a leading UAE-based AI technology group.
“G42 has become a global leader in the AI world with a commitment to champion the technology to drive innovation and progress for every industry and society worldwide. VERSES shares this mission and we are excited and honored to announce this strategic investment to support our shared goal of ensuring that AI becomes smarter, safer, and more sustainable.” said Gabriel René, founder and CEO of VERSES.
Pursuant to the Strategic Investment, G42 has invested US$10,000,000 via a private placement of unsecured convertible debenture units of VERSES (the “Units”). Each Unit will consist of: (i) C$1,000 in principal amount of unsecured convertible debentures; and (ii) 500 detachable share purchase warrants to purchase Class A Subordinate Voting Shares of Verses. The Convertible Debentures shall bear interest at a rate of 10% per annum and mature on June 20, 2026.
The principal amount of the Convertible Debentures, together with all accrued interest, shall be convertible, for no additional consideration, on the earliest to occur of: (A) the date on which the Company completes an equity financing, in one or more tranches, for aggregate gross proceeds of at least C$15,000,000 at a price per Class A Share of not less than C$1.00, (B) the date on which G42 elects to convert the Convertible Debentures, and (C) the Maturity Date.
In the event of a conversion of the Convertible Debentures: (i) on the Maturity Date or at the election of G42, the Convertible Amount shall be converted into such number of Class A Shares as is equal to the Convertible Amount divided by C$1.20 per Share; and (ii) in connection with an Equity Financing, the Convertible Amount shall be converted into such number of Class A Shares as is equal to the Convertible Amount divided by the issue price per Class A Share sold pursuant to the Equity Financing, multiplied by 80%, provided that, in no event shall such conversion price be greater than C$1.20.
Each Warrant will be exercisable into one Class A Share at a price of C$1.50 per share until June 20, 2027, subject to acceleration. If at any time prior to the Expiry Date, the volume-weighted average trading price of the Class A Shares on Cboe Canada (or such other principal exchange or market where the Class A Shares are then listed or quoted for trading) exceeds C$5.55, as adjusted in accordance with the terms of the certificate representing the Warrants, for a period of 10 consecutive trading days, Verses may, at its option, accelerate the Expiry Date to the date that is 30 days following the written notice to G42, in the form of a press release or other form of notice permitted by the Warrant Certificates.
In connection with commercial agreements that may be entered into between Verses and affiliates of G42, G42 will also receive 1,000,000 restricted stock units of Verses, each vested RSU to be settled through the issuance of one (1) Class A Share. The RSUs will vest in installments of 10,000 RSUs for every C$100,000 of revenue derived by Verses from such commercial agreements.
Other related developments from around the markets include:
Nvidia and Hewlett Packard announced NVIDIA AI Computing by HPE, a portfolio of co-developed AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI. Among the portfolio’s key offerings is HPE Private Cloud AI, a first-of-its-kind solution that provides the deepest integration to date of NVIDIA AI computing, networking and software with HPE’s AI storage, compute and the HPE GreenLake cloud. The offering enables enterprises of every size to gain an energy-efficient, fast and flexible path for sustainably developing and deploying generative AI applications. Powered by the new OpsRamp AI copilot that helps IT operations improve workload and IT efficiency, HPE Private Cloud AI includes a self-service cloud experience with full lifecycle management and is available in four right-sized configurations to support a broad range of AI workloads and use cases.
Microsoft and LinkedIn released the 2024 Work Trend Index, a joint report on the state of AI at work titled, "AI at work is here. Now comes the hard part." Alongside this research, Microsoft announced new capabilities in Copilot in Microsoft 365, and LinkedIn unlocked more than 50 learning courses for LinkedIn Premium subscribers designed to empower professionals at all levels to advance their AI aptitude. The research—based on a survey of 31,000 people across 31 countries*, labor and hiring trends on LinkedIn, trillions of Microsoft 365 productivity signals and research with Fortune 500 customers—shows how, just one year in, AI is influencing the way people work, lead and hire around the world.
Meta Platforms and Hitachi announced a projected multibillion-dollar collaboration over the next three years that will accelerate social innovation with generative AI. Through this strategic alliance, Hitachi will propel growth of the Lumada business, with a planned revenue of 2.65 trillion yen (18.9 billion USD) in FY2024, and will promote operational efficiency and productivity improvements for Hitachi Group’s 270,000 employees. Specifically, Hitachi will embed the Microsoft cloud, Azure Open AI Service, Dynamics 365, Copilot for Microsoft 365 and GitHub Copilot into Lumada solutions to provide innovative solutions for the energy, mobility and other industries to deliver better outcomes for businesses and society. In addition, the two companies will promote joint projects to address pressing business needs such as bolstering cloud services, enhancing security, and mitigating the environmental footprint of data centers, which have become an increasing area of focus with the growing use of generative AI.
Advanced Micro Devices announced a groundbreaking series of next-generation architecture and products aimed at ushering in a new era of AI experiences. AMD is introducing new AMD Ryzen™ AI 300 Series processors with the world’s most powerful Neural Processing Unit (NPU)1 for next-gen AI PCs that pave the way for a future full of AI-infused computing directly on your laptop. AMD is also introducing next-gen AMD Ryzen™ 9000 Series processors for desktops, further solidifying its position as a leader in performance and efficiency for gamers, content creators, and prosumers. These new processors add to a broad portfolio of products powering AI in the cloud, edge, client and beyond.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for VERSES AI Inc. by VERSES AI Inc. We own ZERO shares of VERSES AI Inc. Please click here for disclaimer.
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