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Hard Numbers: Meet the robot painter, Saudi money, Japan’s billions, the CHIPS Act wrap-up, Where’s the AI-generated beef?

November 12, 2024
Scott Nover
Art made by humanoid robot sells for $1 million at auction.
Art made by humanoid robot sells for $1 million at auction.
Fortune via Reuters Connect
1 million: A painting of Alan Turing, the English mathematician and World War II codebreaker, sold at auction for $1 million. The artwork, called “A.I. God” was originally estimated to be worth $120,000–180,000 by Sotheby’s auction house. It was painted by Ai-Da Robot, a humanoid robot that uses artificial intelligence to speak and, yes, paint. Sotheby’s noted that Ai-Da was “the first humanoid robot artist to have an artwork sold at auction.”

100 billion: A new Saudi state initiative called “Project Transcendence” will devote $100 billion to invest in data centers, startups, and infrastructure to boost the country’s domestic AI sector. It’s part of an ongoing effort to diversify the oil-rich nation’s economy while also competing with neighboring United Arab Emirates.

$65 billion: Japanese Prime Minister Shigeru Ishiba announced he’ll devote $65 billion to the country’s artificial intelligence and semiconductor sectors over the next decade. TSMC recently opened a plant in Kumamoto, and Ishiba said he wants that investment to inspire future innovation in the country.

10 million: The Biden administration is planning on finalizing the last CHIPS Act awards — the semiconductor industry spending program that’s given millions to US and foreign companies to build in America. The final awards will reportedly go to TSMC, GlobalFoundries, and one other still-unknown chipmaker, each worth $10 million or more, as Biden pushes to wrap up the program before Donald Trump and his new Congress come in and potentially repeal the CHIPS Act in favor of a tariff-focused economic plan.

$1: The $1 Frosty deal at Wendy’s is a fast-food staple. But now the company is partnering with Palantir — the AI firm known for its military and defense contracts — to improve its supply chain and inventory management. One successful use case has been making sure that when Wendy’s offers the $1 Frosty promotion it can keep pace with surging demand.

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