Morning Thrust | Weekly Highlights (67th Edition: 24.03.2024)

Welcome to the 67th edition of Morning Thrust, your weekly dose of highlights in future tech, space economy, sustainability, smart cities, supply chain, logistics and more! In this edition (24.03.2024), we bring you the most exciting developments shaping our world. Stay informed and ahead of the curve with our curated insights. Let's dive in!

NVIDIA 's CEO, Jensen Huang , suggests that Artificial General Intelligence (AGI) could be achieved within five years, depending on specific benchmarks like passing a bar exam or a pre-med test. During Nvidia's GTC conference, Huang addressed the issue of AI hallucinations, proposing "retrieval-augmented generation" as a solution, ensuring AI systems verify their responses against factual data. This approach could significantly mitigate AI's tendency to produce plausible yet unfounded answers, especially in critical areas such as health advice.

NVIDIA launches Cloud Quantum-Computer Simulation Microservices, enabling researchers to explore quantum computing in fields like chemistry and biology. The platform, based on CUDA-Q™, facilitates building and testing quantum algorithms in the cloud, with integrations like Generative Quantum Eigensolver and Classiq. It's adopted by major cloud providers and quantum companies, offering early access for quantum computing developers.

Johnson & Johnson MedTech partners with NVIDIA to accelerate AI for surgery, aiming to enhance surgical decision-making and education. The collaboration leverages Nvidia's AI platform to enable real-time analysis and global algorithm availability, fostering a more connected and personalized surgical experience. Advanced edge computing in the operating room facilitates secure AI deployment, potentially transforming patient care.

NVIDIA DRIVE Thor, a cutting-edge centralized car computer, integrates advanced AI for safer and more efficient autonomous vehicles, set to revolutionize transportation. With leading companies adopting DRIVE Thor, including BYD, Hyper, and XPENG, the platform promises enhanced AI capabilities for electric vehicles, trucks, and robotaxis, shaping the future of mobility. Scheduled for production in 2025, DRIVE Thor leverages NVIDIA's Blackwell architecture, offering 1,000 teraflops of performance for secure autonomous operations.

The White House proposes $8.5 Billion funding for Intel Corporation 's U.S. chip manufacturing, spurred by supply chain issues and geopolitical tensions, aiming to revitalize domestic industry. Intel's investment plans in Ohio and beyond, backed by the CHIPS Act, promise job creation and innovation, yet challenges persist in bridging the gap with global competitors like TSMC , with delays in plant construction raising concerns.

Covariant unveils RFM-1, likened to "ChatGPT for robots," aiming to revolutionize robot decision-making with human-like reasoning. The platform enables robots to understand and execute tasks in various industries, promising adaptability and expanded capabilities beyond traditional programming constraints. RFM-1's launch marks a significant step towards advancing AI-powered robotics for diverse applications.

Microsoft has appointed Mustafa Suleyman and Karén Simonyan , founders of Inflection AI , to lead its new consumer AI division, signaling a significant push in AI development. Inflection AI, known for its attempt to build a massive AI cluster, will now focus on AI studio business under Microsoft's umbrella, following a $1.3 billion funding led by Microsoft. This move aims to enhance Microsoft's AI capabilities across products like Copilot, Bing and Edge, leveraging the expertise of Inflection's team, and marks a strategic alignment in advancing consumer AI technologies.

Emad Mostaque , CEO of Stability AI , a leading name in the AI industry known for its innovative image generation tool Stable Diffusion, resigns and leaves the board, advocating for decentralized AI over the centralized models prevalent in top AI startups. Stability AI, facing leadership changes and financial struggles, appoints interim co-CEOs and aims for a shift towards transparency and distributed governance in AI. This move highlights a broader industry trend towards open models and enterprise adoption, amidst a week of significant shifts in the AI sector.

GitHub has unveiled a beta version of its code-scanning auto-fix feature, designed to identify and correct security vulnerabilities in real-time during the development process. Leveraging GitHub's Copilot and CodeQL technologies, this tool aims to fix over two-thirds of detected vulnerabilities automatically, covering a wide range of issues in JavaScript, TypeScript, Java, and Python. Available to GitHub Advanced Security customers, this innovation promises to save developers time on code remediation and allow security teams to concentrate on broader protective strategies.

OpenAI 's anticipated GPT-5, touted as a significant upgrade to ChatGPT, is rumored to launch this summer, according to Business Insider sources. The new model is described as "materially better" by those who have seen demos, potentially heralding advancements in AI language capabilities. OpenAI remains tight-lipped about the release but suggests a major AI model launch this year, leaving uncertainty whether it will be dubbed GPT-5 or follow a different nomenclature.

Despite 1,500 robotics startups raising $90 billion since 2019, investment plummeted in 2023, particularly in autonomous vehicles, dropping from $9.7 billion in 2021 to $2.2 billion in 2023. Vertical-specific robots saw the most investment in defense and logistics, with a notable decline in autonomous vehicle startups due to bad press and legislative challenges, signaling a shift towards trucking-related ventures.

Israeli venture capital fundraising down 74% in 2023. Israeli venture capital funds raised just $1.5 billion in 2023, down 74% from 2022 and its lowest level since 2015. According to the report from the Israel Innovation Authority, the IVC Research Center, law firm Gornitzky GNY and consultancy KPMG Israel, just 21 Israeli venture funds raised funds last year, versus 62 funds for $5.9 billion in 2022.

OTB Ventures , with backing from the NATO Innovation Fund (NIF) , has closed a $185 million fund to invest in European deep tech startups, primarily at the Series A stage but with possibilities for seed and follow-on investments. The fund aims to support disruptive technologies that can compete globally, focusing on areas like space tech, enterprise automation, AI, cybersecurity, and fintech infrastructure. This initiative marks a significant step in leveraging Europe's tech talent pool to lead in global tech innovation, underscoring the growing interest in deep tech across the continent.

1991 Ventures, a new UK-based VC founded by Ukrainian brothers Viktor and Denis Gursky, launches with a £15 million fund to invest in Ukrainian and CEE startups, aiming to tap into untapped talent and provide access to global funding. Despite Ukraine's current crisis, Ukrainian-born funds like Roosh Ventures , SID Venture Partners , SMRK, Flyer One Ventures , and TA Ventures continue to support Ukrainian startups, anticipating a surge in tech companies, especially in defense-related sectors.

BlackRock debuts its inaugural tokenized fund on Ethereum blockchain, partnering with Securitize Markets. The BlackRock USD Institutional Digital Liquidity Fund marks the asset manager's venture into public blockchain offerings, following a successful Bitcoin ETF launch garnering $13 billion in inflows. Additionally, BlackRock makes a minority investment in Securitize, with Joseph Chalom joining the latter's board.

Saudi Arabia plans to establish a $40 billion fund for investing in artificial intelligence, potentially partnering with U.S. firm Andreessen Horowitz . Discussions involve setting up an office in Riyadh and supporting various AI-related tech start-ups, with the fund expected to launch in late 2024. Saudi officials emphasize the kingdom's interest and capacity to foster AI development outside the U.S.

Y Combinator is raising over $2 billion across three new funds, aiming to support the next four batches of startups. This marks the accelerator's largest fundraising endeavor yet, as reported by The Information .

Liquid Death , a canned water startup, raised $67 million, reaching a $1.4 billion valuation with $263 million in sales in 2023, highlighting the growing interest in VC-backed beverage companies aiming to challenge industry giants like The Coca-Cola Company and PepsiCo . These startups, leveraging innovative marketing and healthier product alternatives, are diversifying the beverage industry with offerings like non-alcoholic drinks and supplements-enhanced beverages, attracting significant venture capital and celebrity investments. Amidst a challenging fundraising environment, successful brands are emerging, suggesting a new innovation cycle in the beverage sector.

Parallel Studios, known for Ethereum 's Parallel NFT card game, announces Colony, a Solana Labs -based survival simulation with AI-driven gameplay. Colony integrates PRIME tokens for in-game rewards and governance, witnessing PRIME reaching an all-time high of $27.90 post-Colony whitepaper launch.

Grab , Asia's leading super app, partners with Triple-A to introduce crypto payments, accepting Bitcoin Inc. and stablecoins, signaling a shift towards digital currency in the region. This move modernizes financial practices, potentially easing access to digital services for the unbanked, while also presenting challenges such as regulatory compliance and market volatility. Regulatory approval from the Monetary Authority of Singapore ensures compliance, hinting at broader adoption within Grab's ecosystem, with potential expansion beyond Singapore.

Marks and Spencer partners with HSBC to launch a 'superapp' integrating banking and loyalty services, aiming to solidify its position in the market amidst Sainsbury's 's and Tesco 's exits from banking. The app, set to be announced soon, plans to expand M&S Bank's current offerings to over three million users, while Freemans introduces Flexi3, a new buy now pay later scheme, adding to the evolving landscape of retail finance options.

Space Capital 's Chad Anderson debunks myths about space investment, highlighting its potential beyond rocket launches. With the space industry projected to hit $1 trillion in annual revenue by 2040, Anderson emphasizes the transformative technologies driving this growth, including GPS and telecommunications. Despite risks, investing in space offers diverse opportunities beyond mere space stations and moon landings, powering industries on Earth.

The US government, with DARPA's involvement under Major Michael "Orbit" Nayak, is intensifying efforts to establish a lunar economy, focusing on resource exploration, manufacturing, and infrastructure development. Defense Advanced Research Projects Agency (DARPA) has issued a request for information on key technological capabilities required for lunar commerce, including centralized heating, prospecting, silicon wafer manufacturing, microbial biomanufacturing, low-gravity resource extraction, and a lunar GPS system, indicating serious interest in lunar commercial activity.

On March 21, 2024, SpaceX 's Falcon 9 rocket successfully launched the 30th Commercial Resupply Services mission (CRS-30) to the ISS from Cape Canaveral, carrying over 6,000 pounds of cargo including scientific experiments, technology demonstrations, and essential supplies like coffee for the crew. The mission will support a variety of research areas and demonstrate new technologies, such as 3D sensing for Astrobee robots and studying gamma-ray bursts, contributing to future space exploration efforts under NASA - National Aeronautics and Space Administration 's Artemis campaign. The spacecraft is set to autonomously dock with the ISS, where it will stay for about a month to facilitate these activities.

SpaceX plans to expand astronaut launch capacity by certifying a second Florida pad, SLC-40, at Cape Canaveral. This move aims to alleviate launch site congestion and facilitate sending more humans to space. With installation of crucial infrastructure like a crew access arm and an emergency egress system, SpaceX nears completion, aiming to launch its CRS-30 cargo resupply mission as a precursor to crewed missions.

NASA - National Aeronautics and Space Administration 's Commercial Crew Program advances U.S. human spaceflight with SpaceX Crew-8 mission to the ISS, marking the ninth Dragon flight with astronauts. Through innovative partnerships, NASA aims to ensure safe, reliable, and cost-effective access to space while supporting job creation. The agency plans to invest in Sierra Nevada Corp., SpaceX, and Boeing to develop integrated crew transportation systems, alongside its Orion spacecraft and Space Launch System for exploration beyond Earth orbit.

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