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Elon Musk’s artificial intelligence startup, xAI, aims to secure $1 billion in equity financing to compete with industry leaders such as OpenAI, Microsoft, and Google. The company, co-founded by Musk, has already garnered $135 million from investors, as revealed in a filing with the US Securities and Exchange Commission.
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Digital Assets: Bitcoin Shoots Past $34K On Spot ETF Expectations
BTC has experienced a significant surge in its market value, breaking through the $34,000 barrier. This surge is closely linked to developments in the Bitcoin spot ETF market, with Blackrock and Grayscale at the forefront of the action.
Artificial Intelligence: Apple Moving Quickly To Close The Gap On Generative AI
Apple (NASDAQ: AAPL) is gearing up to join the AI revolution that has taken the tech industry by storm. While the iPhone-maker was somewhat caught off guard by the rapid rise of AI tools like ChatGPT from OpenAI, it is now making a concerted effort to catch up. CEO Tim Cook acknowledges that Apple has been working on generative AI technology for some time, though the recent AI fever in the industry has spurred the company into action.
Venture Capital: OpenAI Looking For Investors At A Valuation Of $86B
OpenAI is in discussions with investors to sell shares at a staggering valuation of $86 billion, a threefold increase from its value just six months ago. This sharp rise in worth is attributed to the surging interest in artificial intelligence, which has significantly increased the market’s appetite for leading companies in the field.
Artificial Intelligence: AI-Chipmaker Nvidia And iPhone Maker Foxconn Join Hands To Make “AI Factories”
Nvidia (NASDAQ: NVDA) and Foxconn (TPE: 2354) are joining forces to establish “artificial intelligence factories,” signifying a diversification move for the Taiwanese electronics manufacturer. This development comes in the wake of the US tightening regulations on AI chip sales to China, impacting Nvidia and other high-performance semiconductor suppliers in the nation.
Artificial Intelligence: Researchers Devise A System Of AI And Robots To Detect A Supernova
In a groundbreaking development, a fully automated process, driven by a new artificial intelligence (AI) tool, has successfully detected, identified, and classified a supernova. This remarkable achievement comes courtesy of an international collaboration led by Northwestern University. The new system, named the Bright Transient Survey Bot (BTSbot), has effectively removed humans from the process, radically accelerating the search and classification of supernova candidates while eliminating the potential for human error.
Alternative Investments/ESG: KraneShares Offers ETF Focused On Chinese Clean Tech Companies
KraneShares, a prominent asset management firm renowned for its global exchange-traded funds (ETFs) and groundbreaking investment strategies, has unveiled the KraneShares MSCI China Clean Technology Index UCITS ETF (Ticker: KGRN) on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. This ETF, KGRN, is a passive fund that mirrors the MSCI China IMI Environment 10/40 Index, centered around four pivotal Clean Technology environmental themes: Alternative Energy, Sustainable Water, Pollution Prevention, and Energy Efficiency.
Artificial Intelligence: AI Helps Decipher A Word On The Herculaneum Scrolls
In a monumental breakthrough, the Herculaneum scrolls, long considered unreadable due to their damage from the eruption of Mt. Vesuvius in 79 CE, have yielded their secrets. Computer science professor Brent Seales, along with partners from EduceLab, the Library of the Institut de France, and the Vesuvius Challenge, hosted an event to announce the reading of an entire word from the scrolls. The Greek characters, πορφύραc, were revealed to mean “purple dye” or “clothes of purple.”
FinTech: Goldman Sachs Jettisons GreenSky; To Focus On Core Businesses
Goldman Sachs (NYSE: GS) has announced its plan to sell the GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street. This significant transaction is set to be completed in the first quarter of 2024, subject to usual closing conditions. David Solomon, Chairman and CEO of Goldman Sachs, emphasized that this move aligns with their strategy of narrowing their focus on core franchises in Global Banking & Markets and Asset & Wealth Management.
Artificial Intelligence: Klarna Unveils AI Image Recognition Tool For Shopping
Klarna, the AI-powered global payments network and shopping assistant, recently introduced 13 innovative products as part of its Spotlight Fall launch. The flagship feature, the Shopping Lens, empowers users to capture images of items in their surroundings, instantly identify where to purchase them, and secure the best deal using Klarna’s search and comparison tool.
Digital Assets: Hayes Predicts Epic Bull Move In Crypto; Charlie Munger Shreds The Asset Class
Arthur Hayes, co-founder of BitMEX, has outlined two crucial factors that he believes will drive a significant bull market in the cryptocurrency sphere. In a recent interview with Crypto Banter, Hayes emphasized the transformative potential of AI commercialization and the unprecedented money printing by the Federal Reserve. He contended that when these two elements are combined, they will propel cryptocurrencies to new heights.
Artificial Intelligence: OpenAI Considered Acquiring A Chip Maker (Reuters)
OpenAI is actively considering the development of its own artificial intelligence (AI) chips and has even explored potential acquisition targets in this regard, according to Reuters. While no final decision has been made, the company has been addressing the challenge of the high cost and limited availability of AI chips, which are crucial for its operations. CEO Sam Altman has expressed concerns about the scarcity and cost of graphics processing units (GPUs), which are essential for AI applications. OpenAI currently relies heavily on Nvidia (NASDAQ: NVDA) for these chips, a company that controls a significant share of the global market for AI-capable GPUs.
Venture Capital: At One Ventures Scores $375M For Second Climate Tech Fund
One Ventures, the climate tech venture capital firm founded by Tom Chi, a founding member of Google X, has successfully closed its second fund, raising a substantial US$375 million. Much like its inaugural fund, Fund II is dedicated to supporting early-stage startups with innovative technologies aimed at enhancing the health of the planet. These technologies are poised to address some of the most environmentally damaging industries, including construction, energy, transportation, and agriculture.
Venture Capital: Anthropic Is Pedal To The Metal On Funding – Eyes $2B From Google, Hot Valuation
Anthropic, a significant player in the generative artificial intelligence sector, continues its quest for substantial investments, despite already securing substantial funding. The company is currently in discussions with potential investors, including tech giant Google (NASDAQ: GOOGL), in pursuit of a new $2 billion funding round. This follows Amazon’s (NASDAQ: AMZN) recent commitment to invest up to $4 billion in Anthropic.
FinTech: Visa’s Venture Arm To Spearhead $100M Generative AI Initiative
Visa (NYSE: V), a prominent player in the realm of payments, has unveiled an ambitious initiative with a commitment of $100 million to ventures in Generative AI. It would involve significant investments in the upcoming wave of companies dedicated to advancing generative AI technologies and their applications. The overarching goal is to shape the future of commerce and payments through groundbreaking innovations.
Artificial Intelligence: Tom Hanks Alleges Advertiser Used His AI-Generated Image Without Permission
Tom Hanks, the renowned actor, has issued a warning to his 9.5 million Instagram followers, revealing that his image was used without his consent in a promotional video for a dental plan. In a message posted on his social media account, Hanks clarified that the video features an artificial intelligence (AI) version of him and that he has no association with it. This incident highlights Hanks’ ongoing concerns about the use of AI in the entertainment industry, a topic he discussed in a recent podcast interview.
Artificial Intelligence: Mysterious US-Based Books3 Dataset Used To Train AI Was A Massive Trove Of Pirated Books
Thousands of books penned by some of Australia’s most esteemed authors may have fallen victim to what Booker prize-winning novelist Richard Flanagan has described as “the biggest act of copyright theft in history.” These literary works are believed to have been pirated by the US-based Books3 dataset, which was then used to train generative AI systems for major corporations like Meta and Bloomberg.
Artificial Intelligence: Palantir Awarded $250M Contract By US Department Of Defense For AI R&D
Palantir Technologies Inc. (NYSE: PLTR) has secured a significant contract worth $250 million with the US Defense Department. The primary focus of this contract is the research and development of artificial intelligence (AI) and machine learning technology. This development underscores Palantir’s strong ties to the US government and its growing involvement in the realm of AI and defense.
Venture Capital: Industry Ventures Closes On $1.7B In Commitments For Two Funds
Industry Ventures has successfully raised over $1.7 billion in two new funds aimed at assisting venture capital investors in achieving liquidity. The first fund, Industry Ventures Secondary X, has attracted over $1.45 billion in new commitments. The second, Industry Ventures Tech Buyout II, secured over $260 million in new capital commitments.
Venture Capital: Sierra Space Closer To Realizing Its Dream Chaser Spaceplane Ambitions With $300M Raise
Sierra Space, a subsidiary of private aerospace contractor Sierra Nevada Corporation, is in the final stages of securing a funding round of nearly $300 million, which values the company at approximately $5 billion. Japanese investors, including MUFG, Kanematsu, and Tokio Marine, are leading this equity round, along with substantial participation from existing investors.
Artificial Intelligence: Amazon To Invest Up To $4B In AI Startup Anthropic
Amazon.com (NASDAQ: AMZN) announced a significant investment of up to $4 billion in the AI startup Anthropic to bolster its competitiveness in the field of artificial intelligence within the cloud market. This strategic move will grant Amazon’s employees and cloud clients early access to Anthropic’s technology, which they can integrate into their operations. Additionally, Anthropic will heavily rely on Amazon’s cloud services, including the utilization of proprietary chips from Amazon for training its future AI models.
Artificial Intelligence: Authors Guild, The Writers’ Trade Body, Sues OpenAI
In a recent legal development, the Authors Guild, representing 17 prominent authors including Douglas Preston, George R.R. Martin, and Jodi Picoult, has initiated a proposed class-action lawsuit against OpenAI, the entity behind ChatGPT. The crux of their complaint is that OpenAI unlawfully used their literary works to train ChatGPT without consent or compensation.
Digital Assets: Nomura’s Arm, Laser Digital, Launches Bitcoin Fund For Institutional Clientele
Nomura’s (TYO: 8604) digital assets subsidiary, Laser Digital, has unveiled its Bitcoin Adoption Fund, marking a significant move in the realm of institutional investment in digital assets. This fund represents the inaugural offering in Laser Digital Asset Management’s series of digital adoption investment solutions. It is designed to provide institutional investors with a streamlined avenue to tap into the digital asset class.
Artificial Intelligence: SambaNova Launches The SN40L Into A Red-Hot AI Chip Market
SambaNova Systems, an AI chip startup, has introduced the SN40L chip, which enables customers to utilize more extensive AI models at a reduced cost. This chip is designed for running large language models in enterprise applications, accommodating models over twice the size of OpenAI’s ChatGPT.
Digital Assets: Blockchain Capital Raises $580M For Two New Crypto Funds
Blockchain Capital, a prominent crypto-focused investment firm, has achieved a remarkable feat by raising $580 million for two new investment funds dedicated to various sectors including infrastructure, gaming, DeFi (Decentralized Finance), and consumer technologies.