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Good morning. Today is Thursday, April 25th. I'm Julie Morgan.

Invidia is acquiring two AI startups.

Meta is down double digits pre-market following its earnings call

and Rubik prices its IPO above range.

Invidia is beefing up its dominance in the artificial intelligence space through the

acquisition of two Israeli startups. The company confirmed on Wednesday

that it will acquire Run AI. In addition, the information reported citing a

person involved in the agreement that NVIDIA is said to have reached a deal for another startup,

Dessie. The goal of the acquisitions is to lower the cost of creating and running AI models.

Run AI makes AI chips more efficient by enabling multiple

workloads to run in parallel, reducing the number of GPU needed to complete the

task. Meanwhile, DESE modifies AI models

to ensure they run more cheaply.

Its work is similar to that of OmniML,

another startup that Invidia quietly acquired last year.

Meta platforms is down 13% in pre-market action.

Meta's first quarter earnings beat expectations,

but appeared to disappoint investors with a lackluster revenue forecast for Q2.

The company also began its conference call with a focus on heavy spending ahead.

CEO Mark Zuckerberg started the call with a on but said that he would focus most of the call on the metaverse and the company's work on artificial intelligence.

He said the results the teams have achieved leads him to believe that they should invest significantly more over the coming years to build even more advanced

...