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!
Here’s this week’s AI Insider Newsletter, with insights on funding, thought leadership and the latest AI-powered innovations shaping our world. Dive in to stay informed and inspired by the evolving AI landscape!
💰 Funding Rounds
Ex-Google and Stripe Employees Receive $56M to Build the Android of AI Agents
Former Google and Stripe employees, including key Android contributors, have raised $56 million to launch /dev/agents, a company developing a unified operating system to standardize AI agents, valued at $500 million. The platform aims to simplify AI agent development and integration, addressing challenges faced by developers, with ambitions to create an "Android-like moment" for AI by enabling seamless communication between services.
Databricks Secures $5B in New Funding, Valued at $55B, as Employees Gain Liquidity
Databricks is raising $5–8 billion in its latest funding round, valuing the firm at $55 billion. Riding the AI momentum, Databricks projects $2.4 billion in annualized revenue by mid-2024 and has enhanced its capabilities with acquisitions like MosaicML. Backed by Nvidia, Andreessen Horowitz, and Fidelity, the company contrasts public market struggles by growing its valuation and workforce while supporting employee liquidity.
Amazon Develops Generative AI for Images and Videos to Reduce Dependence on Anthropic
Amazon is developing Olympus, a new generative AI model capable of processing text, images, and videos. This initiative aims to reduce reliance on providers like Anthropic, following Amazon's recent $4 billion investment in the company. Olympus positions Amazon to compete with rivals like Google and OpenAI by enhancing its generative AI capabilities for AWS offerings.
NVIDIA Unveils Fugatto AI Model to Modify Voices and Create Unique Audio for Media Production
NVIDIA introduced Fugatto, an advanced generative AI model for creating and modifying audio, targeted at professionals in music, film, and gaming. With capabilities like accent transformation and melody-to-vocal conversions, Fugatto highlights NVIDIA’s leadership in generative AI while sparking discussions on ethical implications.
Jeff Bezos and Samsung Invest $700M in AI Chipmaker Tenstorrent, Valuing Startup at $2.6B
Tenstorrent, led by semiconductor pioneer Jim Keller, raised $700 million to develop cost-efficient, open-source RISC-V processors challenging NVIDIA's dominance. The funding will support global supply chain enhancements and advanced fabrication technologies, aiming to disrupt the AI chip market with affordable, interoperable solutions.
9fin Raises $50M to Build Next Generation of Debt Capital Markets Technology
9fin secured $50 million in a Series B round to enhance its AI-powered debt market analytics platform. Serving nearly 200 global credit firms managing over $17 trillion in assets, 9fin leverages generative AI to offer faster, smarter intelligence for high-yield bonds, distressed debt, and more.
Cadenza Raises $50M for Early-Stage AI Venture Fund
Cadenza closed a $50 million early-stage venture fund targeting pre-seed and seed investments in AI infrastructure and enterprise applications. With backing from a global syndicate, the fund aims to capitalize on transformative AI advancements in enterprise software and workforce efficiency.
📈 General News
"Where Knowledge Begins": A Conversation with Aravind Srinivas, CEO of Perplexity
During a recent interview, Aravind Srinivas, CEO of Perplexity, underlined democratizing knowledge through AI. Despite legal and ethical challenges, the company has reached a $9 billion valuation, driven by a mission to make information credible and accessible.
Former NBA Star Omri Casspi Launches $60M Swish Ventures Fund to Invest in Cybersecurity, Cloud, & AI Startups
Omri Casspi, leveraging his experience as an investor and athlete, has launched Swish Ventures to fund transformative startups in cybersecurity, AI, and cloud infrastructure, aiming to shape the next generation of tech leaders.
How Samsung's Galaxy Z Fold6 is Transforming Business, as AI Meets Productivity
Samsung’s Galaxy Z Fold6 integrates AI-powered features for multitasking and secure workflows. Its ability to summarize reports and provide live call translations positions it as a game-changing tool for global business collaboration.
🗣 AI Industry Quote of the Week
“When I first started writing academic papers, I realized citations are everything. They’re the currency of credibility. That’s why at Perplexity, every AI-generated answer is backed by citations from trusted sources. It’s a core part of our DNA.”
—Aravind Srinivas
Stay tuned for more insights in next week’s edition! #AI #TechNews #Innovation