• Monday • February 26, 2024

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    Wall Street Journal

    The 9-Month-Old AI Startup Challenging Silicon Valley’s Giants

    Microsoft announces partnership with Paris-based Mistral, led by 31-year-old CEO Arthur Mensch

    This time last year, Arthur Mensch was 30, still employed at a Google unit here, and artificial intelligence had just started to take off in the public consciousness as something more than science fiction.

    Since then, so-called generative AI that can converse—and possibly reason—like humans has become the most talked-about technology breakthrough in decades. And the startup Mensch left Google to launch, now all of nine months old, is valued at slightly more than $2 billion.

    Mensch’s startup, called Mistral AI, is challenging the conventional wisdom that the winners of the AI race will emerge from among the tech industry’s U.S. giants. Mensch, who founded the company with two engineering-school friends, doesn’t think enormous scale is essential—or that the U.S. will necessarily dominate.

  • Friday • February 16, 2024

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    New York Times

    OpenAI Completes Deal That Values the Company at $80 Billion

    The A.I. Start-Up’s Valuation Tripled in Less Than 10 Months

    OpenAI has completed a deal that values the San Francisco artificial intelligence company at $80 billion or more, nearly tripling its valuation in less than 10 months, according to three people with knowledge of the deal.

    The company would sell existing shares in a so-called tender offer led by the venture firm Thrive Capital, the people said. The deal lets employees cash out their shares in the company, rather than a traditional funding round that would raise money for business operations.

    OpenAI, which declined to comment, is now one of the world’s most valuable tech start-ups, behind ByteDance and SpaceX, according to figures from the data tracker CB Insights.

  • Thursday • February 15, 2024

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    New York Times

    OpenAI Unveils A.I. That Instantly Generates Eye-Popping Videos

    The Start-Up is Sharing the New Technology, Called Sora, with a Small Group of Early Testers

    OpenAI, the company behind the ChatGPT chatbot and the still-image generator DALL-E, is among the many companies racing to improve this kind of instant video generator, including start-ups like Runway and tech giants like Google and Meta, the owner of Facebook and Instagram. The technology could speed the work of seasoned moviemakers, while replacing less experienced digital artists entirely.

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  • Wednesday • January 24, 2024

    Rob Winterton

    Microsoft is now a $3 trillion company

    Microsoft is the Second Company, After Apple, to Reach a $3 Trillion Market Cap

    Microsoft has reached a $3 trillion market cap, the first time in its 48-year history. It’s the second company, after Apple, to reach the milestone valuation after stock in Microsoft climbed 1.5 percent in trading on the NASDAQ on Wednesday.

    Apple first hit the $3 trillion market cap two years ago, more than a year after it surpassed the $2 trillion mark in 2020. Microsoft and Apple have been trading places for the world’s most valuable company in recent weeks, with Microsoft briefly overtaking Apple earlier this month.

  • Tuesday • January 23, 2024

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    Industry News Source

    AWS rival Wasabi acquires Curio AI

    The Acquisition Will Add Intelligence to Its Unlimited Cloud Storage Offering

    Boston-based Wasabi Technologies, a data storage startup taking on the likes of AWS, GCP and other cloud vendors, today announced it has acquired machine learning platform Curio AI from GrayMeta, the known provider of metadata solutions based in California.

    While the companies did not disclose the exact financial terms of the deal, Wasabi did note in a press release that the deal will help enable it to build Curio’s technology into a new class of AI-powered intelligent storage for the media and entertainment industry.

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  • Monday • January 22, 2024

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    Industry News Source

    ElevenLabs Raises $80 Million for AI Voice Cloning Projects

    Voice technology firm ElevenLabs’ value has topped $1 billion after its latest funding round

    The company announced its $80 million Series B Monday (Jan. 22), saying the funds would be used for — among other things — deploying new products and improving safety measures to “ensure responsible and ethical development of AI technology.”

    While ElevenLabs did not include a specific valuation in its announcement, it said it had reached “unicorn” status, a term for a private company valued at more than $1 billion. Mati Staniszewski, the firm’s CEO, told Bloomberg News the exact figure is $1.1 billion.