AI Insider: Week in Review 🌍
AI Insider
AI Insider is the leading provider of media and market intelligence in the Artificial Intelligence industry.
Happy Tuesday, AI Enthusiasts!
Welcome to another edition of AI Insider newsletter, where we bring you the latest updates and trends from the world of artificial intelligence. This week's is an even bigger issue than the previous one, so let’s dive into the top stories that have made the news over the last seven days!
💰 Funding Rounds
AWS Secures Five-Year AI Chip Deal with Databricks to Challenge NVIDIA
AWS and Databricks have entered a five-year partnership leveraging AWS’s custom AI chips for model training. Following Databricks’ $1.3 billion acquisition of Mosaic ML, the deal aims to offer a 40% cost reduction compared to NVIDIA’s hardware. This strengthens AWS’s position in the AI hardware market.
Decagon Receives $100M To-date to Build AI Agents That Change How Work Is Done
Decagon has raised $100 million in total, with a recent Series B round of $65 million. Its AI-powered agents automate customer support for companies like Duolingo and Notion, handling up to 70% of customer interactions.
Lightmatter Raises $400M at $4.4B Valuation for Next-gen Photonic Data Center Networking
Lightmatter Inc. raised $400 million to enhance its photonic technologies that address the bandwidth and latency challenges in AI. Its Passage solution boosts chip interconnectivity using optical fibers.
Wolfspeed Secures $750M from U.S. CHIPS Act & $750M from Apollo to Lead Silicon Carbide Technology
Wolfspeed will receive a combined $1.5 billion to expand its silicon carbide production for clean energy and AI technologies. This funding solidifies its leadership in next-gen semiconductor manufacturing.
Terray Therapeutics Closes $120M Series B for Generative AI in Drug Discovery
Terray Therapeutics raised $120 million to advance its AI-driven small molecule drug discovery platform. The company has the world’s largest chemistry dataset and partners with Bristol Myers Squibb to drive innovations in healthcare.
📈 General News
A Conversation with Sam Altman on AI & the Future of Humanity
Sam Altman shared his vision for AI’s role in reducing inequality while addressing ethical dilemmas. He emphasized the need for collective ethical guidelines to ensure responsible AI use.
IEA Executive Director Forecasts Major Shift to Nuclear Power with AI Boom
IEA Director Fatih Birol predicts nuclear energy will play a key role in supporting AI’s growing energy needs, with global nuclear power generation set to reach record levels by 2025.
💡 Thought Leader Insights
Sam Altman on AI’s Potential
At a fireside chat at Harvard University last week, OpenAI CEO Sam Altman highlighted AI’s potential to democratize access to resources, stressing its role in reducing inequality and improving quality of life.
🗣 AI Industry Quote of the Week
“I think it’s really important for society to figure out how we’re going to use this technology.”
— Sam Altman
Stay tuned for more AI innovations and insights in the next issue! #AI #TechNews #Leadership