Secret Global Tussle, Amazon's $4B Bet
28 March 2024: AI Regulatory Tussles, Amazon's $4B in Anthropic, AI in Logistics, Salesforce's AI Einstein Mascot, World’s Most Powerful Open Source AI Model
Good Morning & Happy Easter Holidays,
Latest in AI,
1 Minute Roundup
Global AI regulation tussle: US, EU, and China shape the future.
Amazon invests $2.75B in Anthropic, a total stake of $4B.
Logistics companies harness AI for massive efficiency boosts and 80% cost reductions.
FireworksAI raised $25M for a developer-focused GenAI platform.
MyShell gathers $11M for web3 AI expansion and plans token launch.
Mantis Analytics snags $50K to fight information manipulation.
Nominal's $9.2M seed round for smarter financial AI tools.
iCustoms.AI's $2.2M seed for 99% accurate trade compliance.
Thoras.ai's $1.5M pre-seed aims to halve cloud costs.
Cyvl.ai's total funding hits $10M for digital city solutions.
Binarly's $10.5M seed for firmware security via AI.
Century Health's $2M for AI-driven drug discovery partnerships.
Orchard Robotics' $3.2M for AI modules in apple farms.
Celestial AI's $175M Series C for efficient AI processing.
After a three-way merger, the new AI genomics company is valued at $340M.
HumeAI secured $50M Series B for emotionally intelligent AI.
Observe Inc. raised $115M, valued at $500M, and partners with Snowflake.
Salesforce bets $20M on Einstein's image for AI branding.
Databricks' DBRX becomes the top open-source AI model with a $10M investment.
Google steps up with AI-powered travel planning and shopping.
Sam Altman faces scrutiny over AGI ambitions.
Hackers exploit Ray AI framework, compromising servers and AI models.
Headlines
AI Supremacy: The Shadowy Global Battle for the Future
There's a secretive global tussle over making rules for powerful AI technology. Big players like the US, EU and China are pitching their approaches, which could hugely impact businesses to democracy.
Rival Pitches: At elite gatherings, the US touts voluntary business pacts, while the EU pushes binding rules like its AI Act, sparking clashes over the ideal approach.
Persuasion Playbook: Tech titans like Reid Hoffman (LinkedIn co-founder) lobby leaders using scare tactics like AI-generated deepfakes to argue against overregulation.
Open vs. Closed: A rift emerges between advocates of open-source AI accessibility and those wanting to restrict it to trusted firms, fueling debates on innovation versus risk.
Amazon Doubles Down on AI with $2.75B Anthropic Investment.
Amazon is significantly ramping up its AI play, investing an additional $2.75 billion in the startup Anthropic - bringing its total stake to a massive $4 billion, Amazon's largest investment in another company to date.
Chip Collaboration: Anthropic utilises Amazon's custom AI chips to build and deploy its software.
Cloud Integration: Amazon adds Anthropic's tech to its cloud offerings for enterprise AI applications.
AI Optimises the Logistics Line: Cost Cuts and Efficiency Gains
Logistics firms use generative AI tools to streamline operations, cut costs, and speed up deliveries. Early adopters leverage AI's ability to quickly process large data sets and provide insights for consolidating shipments, maximising discounts, and navigating disruptions.
Load Consolidation: A snack supplier uses AI to combine truck shipments, reducing costs by 80% and improving on-time deliveries.
Real-Time Tracking: Bayer taps FourKites' AI chatbot to monitor Red Sea shipments amid conflicts, enabling agile production planning.
AI Deals
FireworksAI raised $25M in Series A to expand its platform. The company offers a GenAI Platform for developers to utilise large language models (LLMs), providing machine performance optimisation and cost minimisation.
MyShell, a web3 AI platform, raised $11M in a round led by Dragonfly to expand its ecosystem of AI agents for creators. The company plans to launch a token and a customised Layer 2.
Mantis Analytics secured $50K from ZAS Ventures. This AI-based platform monitors and analyses information spaces to detect manipulations and fakes.
Nominal, a generative AI firm that enhances financial management for mid-market businesses, secured $9.2M in seed funding led by Bling Capital and Hyperwise Ventures.
iCustoms.AI, an AI-powered trade compliance solutions provider, secured $2.2M in seed funding led by Fuel Ventures. The company aims to transform customs processes with 99% accuracy and up to 50% cost and time savings.
Thoras.ai secured $1.5M in pre-seed funding, co-led by Storytime Capital and Focal VC. The company aims to reduce cloud costs by up to 50% and improve system uptime with predictive algorithms and machine learning.
Cyvl.ai raised $6M, bringing the total to $10M, to enhance transportation infrastructure with digital solutions. It serves nearly 200 cities and generates almost $2M in ARR.
Binarly secured $10.5M in seed funding led by Two Bear Capital. Binarly specialises in AI-powered firmware and software supply chain security, identifying vulnerabilities and malicious code in devices to enhance security.
Century Health raised $2M to use AI to uncover new drug applications by analysing clinical data, starting with collaborations at Yale and UC San Diego.
Orchard Robotics raised $3.2M to attach AI-powered data-collecting modules to farm equipment, initially focusing on apple orchards. The system captures detailed crop data, enhancing farmers' yield understanding.
Celestial AI, an optical interconnectivity startup, raised $175M in a Series C round led by the US Innovative Technology Fund. The company aims to enhance AI processing efficiency by separating computing and memory.
APx Acquisition Corp. I (SPAC), OmnigenicsAI Corp (Heritas), and MultiplAI Health Ltd have merged to create a global AI-driven genomics company valued at about $340 million. The company aims to improve health with personalised insights and treatments.
HumeAI, specialising in AI for human well-being, secured $50M in Series B funding led by EQT Ventures to develop its emotionally intelligent voice interface.
Observe Inc., a platform for data observability (data-as-a-service), raised $115M in a Series B round led by Sutter Hill Ventures and Snowflake. The round valued the company between $400M and $500M.
Others
Einstein's Reincarnation: Salesforce Shells Out $20M for AI Mascot
To stand out in the crowded AI space, Salesforce has turned to an unlikely mascot - Albert Einstein.
Salesforce paid $20M to license the famous physicist's image & likeness, betting on his iconic status to convey trust and innovation for its AI offerings.
World’s Most Powerful Open Source AI Model by Databricks
After months of work and $10 million, Databricks has unveiled DBRX - the world's most potent publicly available open-source large language model.
DBRX outperforms open models like Meta's Llama 2 across benchmarks, even nearing the abilities of OpenAI's closed GPT-4. Novel architectural tweaks like a "mixture of experts" boosted DBRX's training efficiency by 30-50%.
Google's New AI-Driven Features for Travel and Shopping
Google launches AI-driven travel and itinerary planning tools for US users alongside enhanced, personalised Google Maps features.
Google introduces AI-based style recommendations and virtual try-on experiences for personalised shopping on its US mobile platforms.
Sam Altman and Elon Musk Draw Criticism in Silicon Valley
Sam Altman, CEO of OpenAI, faces growing scepticism among venture capitalists and startup leaders, particularly over his grand ambitions for artificial general intelligence (AGI)—a tendency towards self-centred aspirations and questionable claims.
Widespread Hacking of Servers Using Ray AI Framework
An ongoing cyber attack has targeted thousands of servers using the Ray AI framework, leading to compromised AI models and stolen network credentials, including access to major platforms like OpenAI and Amazon.
Like TheAIML?
Don’t keep it to yourself. Colleagues and friends can sign up here.
For even more,
Our newsletter archive: Click here
Follow us on Linkedin,
Follow us on 𝕏/Twitter
How are we doing? We would like to hear what you think about this newsletter. Let us know.