Day: February 12, 2018

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Amazon’s move into AI chip pressures Nvidia

Amazon developing AI chip to work on Alexa-powered devices

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Amazon developing AI chip to work on Alexa

Amazon (AMZN) is developing a chip designed for artificial intelligence to work on the Echo and other hardware powered by Alexa, according to The Information, citing a person familiar with the matter.

The chip should allow Alexa-powered devices to respond more quickly to commands, the report added.

The effort makes Amazon the latest major tech company, following Google (GOOG; GOOGL) and Apple (AAPL), to design its own AI chips, which may have major ramifications for chip companies like Intel (INTC) and Nvidia (NVDA), the publication said.

Recently, Nvidia announced major accomplishments in the AI space.

On January 10th, NVIDIA (NVDA) unveiled details of its functional safety architecture for NVIDIA DRIVE, its AI autonomous vehicle platform, which uses redundant and diverse functions to enable vehicles to operate safely, even in the event of faults related to the operator, environment or systems.

Nvidia pullback after Q2 beat a buying opportunity. See Stockwinners.com Market Radar for more
Nvidia lower on Amazon move into AI space

On January 8th, Volkswagen announced it plans to use Nvidia to build AI into new electric microbus  Volkswagen (VLKAY) and NVIDIA (NVDA) shared their vision for how AI and deep learning will shape the development of a new generation of intelligent Volkswagen vehicles using the NVIDIA DRIVE IX platform to create new cockpit experiences and improve safety.

In November, GE Healthcare (GE) and Nvidia (NVDA) announced they will deepen their 10-year partnership to bring the most sophisticated artificial intelligence to GE Healthcare’s 500,000 imaging devices globally and accelerate the speed at which healthcare data can be processed.

Amazon’s move into AI chip for Alexa powered devices could pave the way for Amazon to expand its reach into autonomous driving space

In Monday’s trading, shares of Nvidia have dropped more than 2% to $227. AMZN is up more than 1% to $1355.

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Aveo Oncology announces positive NICE recommendation for FOTIVDA

Aveo Oncology announces positive NICE recommendation for FOTIVDA

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Aveo Oncology announces positive NICE recommendation

AVEO Oncology (AVEO) announced that the United Kingdom’s National Institute for Health and Care Excellence has published a Final Appraisal Determination recommending FOTIVDA for the first line treatment of adult patients with advanced renal cell carcinoma.

In the European Union, Norway and Iceland, tivozanib is indicated for the first line treatment of adult patients with aRCC and for adult patients who are vascular endothelial growth factor receptor and mTOR pathway inhibitor-naive following disease progression after one prior treatment with cytokine therapy for aRCC.

Tivozanib is an oral, once-daily, potent and highly-selective vascular endothelial growth factor receptor tyrosine kinase inhibitor.

EUSA Pharma is the licensee for tivozanib in Europe, North and South Africa, Latin America and Australasia.

The positive recommendation triggers a $2M milestone payment to AVEO from EUSA Pharma.

Under the terms of their December 2015 agreement, EUSA Pharma has agreed to pay AVEO up to $386M in future research and development funding and milestone payments, assuming successful achievement of specified development, regulatory and commercialization objectives, as well as a tiered royalty ranging from a low double-digit up to mid-twenty percent on net sales of tivozanib in the agreement’s territories.

Thirty percent of milestone and royalty payments received by AVEO, excluding research and development funding, are due to Kyowa Hakko Kirin (KHK) as a sublicensing fee in Europe.

In the United States, the royalty obligation to KHK ranges from the low- to mid-teens on net sales.

AVEO closed at $3.05.

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CSRA sold for $9.6 billion

General Dynamics to acquire CSRA for $40.75 per share or $9.6B in cash 

CSRA sold for $9.6 billion. Stockwinners.com
CSRA sold for $9.6 billion

General Dynamics (GD) and CSRA (CSRA) announced that they have entered into a definitive agreement under which General Dynamics will acquire all outstanding shares of CSRA for $40.75 in cash.

The transaction is valued at $9.6 billion, including the assumption of $2.8 billion in CSRA debt.

General Dynamics expects the transaction to be accretive to GAAP earnings per share and to free cash flow per share in 2019, and expects to generate estimated annual pre-tax cost savings of approximately 2% of the combined company’s revenue by 2020.

General Dynamics state: “We are committed to maintaining our strong credit ratings and using our robust cash flow for reduction of debt from the transaction, continuation of our dividend policy and the flexible deployment of capital, including ongoing investment in the business.”

CSRA Inc. delivers a range of information technology solutions and professional services to its U.S. government customers to modernize legacy systems, protect networks and assets, and enhance the mission-critical functions for war fighters and citizens. The company offers digital platforms and services, data and analytics, intelligent business processes, enterprise business services, and cyber security services.

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