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Epic’s Deep Space auditorium during UGM 2024.

Courtesy: Epic Systems

In an underground auditorium packed with thousands of health-care executives this week, Epic Systems CEO Judy Faulkner stepped on stage to deliver a keynote dressed like a swan, feathers and all.

Even by the tech industry’s more casual standards (take Nvidia CEO Jensen Huang’s trademark leather jacket, for instance), Faulkner’s costume may have puzzled some first-time attendees. But for many health-care industry veterans and Epic employees, it was business as usual— a sign that Epic’s annual Users Group Meeting was officially underway. And one theme stood out during the health-care company’s event on Tuesday: How new artificial intelligence features can help doctors and patients.

Epic is a health-care software giant whose technology is used in thousands of U.S. hospitals and clinics. The company houses medical records for more than 280 million individuals in the U.S., though patients often have data stored across multiple vendors.  

Wizards and animals

Each year, thousands of people descend on Epic’s headquarters in Verona, Wisconsin to hear about its latest products and initiatives. UGM is one of the company’s largest annual on-campus events, and CNBC attended the festivities on Tuesday.

Epic’s 1,670-acre campus is sprinkled with farm animals, statues of wizards and buildings themed like “Alice in Wonderland” and “The Wizard of Oz.” Fittingly, this year’s conference is “storytime” themed, and Faulkner and other Epic executives spoke while dressed as characters inspired by various children’s books.

There was no shortage of skits and jingles as they shared updates across Epic’s major products, including its offerings like MyChart, an app patients can use to access their medical records, and Cosmos, a deidentified patient dataset clinicians can use to conduct research.

Seth Hain, senior vice president of R&D at Epic, speaking at UGM 2024.

Courtesy: Epic Systems

Epic’s Artificial Intelligence announcements

Many of Epic’s announcements centered around how the company is integrating artificial intelligence into these products. Faulkner said the company has more than 100 AI features in the works, though many of the tools are still in the early stages of development.

For instance, by the end of this year, Epic said its generative AI will help doctors revise message responses, letters and instructions into plain language that patients can understand. Doctors will be able to use AI to automatically queue up orders for prescriptions and labs, the company said.

Many physicians have to carry out time-consuming tasks like drafting insurance denial appeal letters and reviewing prior authorization requirements, so Epic said it is working to introduce AI tools that can streamline those processes this year.

By the end of 2025, Epic’s generative AI will be able to pull in the results, medications and other details that a doctor might need when responding to a patient’s message through MyChart, the company said. Other specific functions, like using AI to calculate wound measurements from images, are also coming next year.

Epic announced plans for a new staff scheduling application for physicians and nurses called “Teamwork” that’s coming soon. Additionally, Faulkner said Epic is “investigating” how it could facilitate claims submissions directly through its software, without the need for a middleman like a clearinghouse. If Epic is successful, it could mark a major change in the way that insurance claims are processed throughout the health-care industry.

Whether these features will all come to fruition — and whether health systems will actually use them — isn’t yet known. Even so, Epic closed its presentation Tuesday by showcasing a lofty demo about where the company believes its technology can go.

The future

Seth Hain, senior vice president of research and development at Epic, facilitated the demo. He spoke to an AI agent through the MyChart app about his recovery after a supposed wrist surgery and answered questions about his pain. The agent instructed Hain to open his camera and bend his wrist back so it could evaluate the progress of his healing. The agent said Hain’s wrist extension was about 60 to 75 degrees, which meant his recovery was ahead of schedule, compared to data from similar patients in Epic’s Cosmos database.

Hain asked the agent if he could start playing pickleball again, and it told him that he “should still wait a little longer” before doing so.

In a meeting with reporters after the presentation, Hain said the demo was happening in real-time without human intervention. However, that capability is so new that Epic doesn’t even have a name for it yet, and Hain said it will likely be a few years before it’s more widely available.

It is very, very, very early in regards to how and where the community, the broader medical community, will adopt that type of thing, but it’s viable,” he said.

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Amazon extends Prime Day to four days, starting July 8

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Amazon extends Prime Day to four days, starting July 8

An Amazon worker moves boxes on Amazon Prime Day in the East Village of New York City, July 11, 2023.

Spencer Platt | Getty Images

Amazon is extending its Prime Day discount bonanza, announcing that the annual sale will run four days this year.

The 96-hour event will start at 12:01 a.m. PT on July 8, and continue through July 11, Amazon said in a release.

For the first time, the company will roll out themed “deal drops” that change daily and are available “while supplies last.” Amazon has in recent years toyed with adding more limited-run and invite-only deals during Prime Day events to create a feeling of urgency or scarcity.

Amazon launched Prime Day in 2015 as a way to secure new members for its $139-a-year loyalty program, and to promote its own products and services while providing a sales boost in the middle of the year. In 2019, the company made Prime Day a 48-hour event, and it’s since added a second Prime Day-like event in the fall.

Prime Day is also a significant revenue driver for other retailers, which often host competing discount events.

WATCH: How Amazon is using AI to revolutionize robotics

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SK Hynix shares extend gains to over 2-decade highs as parent group reportedly plans AI data center

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SK Hynix shares extend gains to over 2-decade highs as parent group reportedly plans AI data center

Illustration of the SK Hynix company logo seen displayed on a smartphone screen.

Sopa Images | Lightrocket | Getty Images

Shares in South Korea’s SK Hynix extended gains to hit a more than 2-decade high on Tuesday, following reports over the weekend that SK Group plans to build the country’s largest AI data center.

SK Hynix shares, which have surged almost 50% so far this year on the back of an AI boom, were up nearly 3%, following gains on Monday. 

The company’s parent, SK Group, plans to build the AI data center in partnership with Amazon Web Services in Ulsan, according to domestic media. SK Telecom and SK Broadband are reportedly leading the initiative, with support from other affiliates, including SK Hynix. 

SK Hynix is a leading supplier of dynamic random access memory or DRAM — a type of semiconductor memory found in PCs, workstations and servers that is used to store data and program code.

The company’s DRAM rival, Samsung, was also trading up 4% on Tuesday. However, it’s growth has fallen behind that of SK Hynix.

On Friday, Samsung Electronics’ market cap reportedly slid to a 9-year low of 345.1 trillion won ($252 billion) as the chipmaker struggles to capitalize on AI-led demand. 

SK Hynix, on the other hand, has become a leader in high bandwidth memory — a type of DRAM used in artificial intelligence servers — supplying to clients such as AI behemoth Nvidia. 

A report from Counterpoint Research in April said that SK Hynix had captured 70% of the HBM market by revenue share in the first quarter.

This HBM strength helped it overtake Samsung in the overall DRAM market for the first time ever, with a 36% global market share as compared to Samsung’s 34%. 

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OpenAI wins $200 million U.S. defense contract

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OpenAI wins 0 million U.S. defense contract

OpenAI CEO Sam Altman speaks during the Snowflake Summit in San Francisco on June 2, 2025.

Justin Sullivan | Getty Images News | Getty Images

OpenAI has been awarded a $200 million contract to provide the U.S. Defense Department with artificial intelligence tools.

The department announced the one-year contract on Monday, months after OpenAI said it would collaborate with defense technology startup Anduril to deploy advanced AI systems for “national security missions.”

“Under this award, the performer will develop prototype frontier AI capabilities to address critical national security challenges in both warfighting and enterprise domains,” the Defense Department said. It’s the first contract with OpenAI listed on the Department of Defense’s website.

Anduril received a $100 million defense contract in December. Weeks earlier, OpenAI rival Anthropic said it would work with Palantir and Amazon to supply its AI models to U.S. defense and intelligence agencies.

Sam Altman, OpenAI’s co-founder and CEO, said in a discussion with OpenAI board member and former National Security Agency leader Paul Nakasone at a Vanderbilt University event in April that “we have to and are proud to and really want to engage in national security areas.”

OpenAI did not immediately respond to a request for comment.

The Defense Department specified that the contract is with OpenAI Public Sector LLC, and that the work will mostly occur in the National Capital Region, which encompasses Washington, D.C., and several nearby counties in Maryland and Virginia.

Meanwhile, OpenAI is working to build additional computing power in the U.S. In January, Altman appeared alongside President Donald Trump at the White House to announce the $500 billion Stargate project to build AI infrastructure in the U.S.

The new contract will represent a small portion of revenue at OpenAI, which is generating over $10 billion in annualized sales. In March, the company announced a $40 billion financing round at a $300 billion valuation.

In April, Microsoft, which supplies cloud infrastructure to OpenAI, said the U.S. Defense Information Systems Agency has authorized the use of the Azure OpenAI service with secret classified information. 

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OpenAI hits $10 billion in annual recurring revenue

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