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- Mistral & AlphaSense raise huge rounds; Elon Musk threatens to ban Apple devices & ByteDance also invests in Malaysia
Mistral & AlphaSense raise huge rounds; Elon Musk threatens to ban Apple devices & ByteDance also invests in Malaysia
Stefan
June 11, 2024
Welcome back dear reader,
Today’s AI news is dominated by some huge funding rounds, and of course a bit of Elon Musk and OpenAI news.
Enjoy!
Paris-based Mistral AI has closed a $640 million Series B funding round, boosting its valuation to $6 billion. The round was led by General Catalyst, with participation from Lightspeed Venture Partners, Andreessen Horowitz, and Nvidia. Read more
AlphaSense Raises $650M in Funding, Acquires Tegus
AlphaSense, an AI-driven market intelligence startup, has secured $650 million in funding, elevating its valuation to $4 billion. The funding will facilitate the acquisition of Tegus for $930 million. Read more
OpenAI Hires Sarah Friar as CFO, Kevin Weil as Chief Product Officer
OpenAI has appointed Sarah Friar as Chief Financial Officer and Kevin Weil as Chief Product Officer. Friar brings experience from Nextdoor and Square, while Weil has held roles at Twitter and Facebook. Read more
SoundHound Pays Off $100 Million Debt
SoundHound AI has fully repaid its $100 million debt, saving over $55 million in interest and fees. This move strengthens its financial position, with a cash reserve of $180 million. Read more
Elon Musk Threatens to Ban Apple Devices Over OpenAI Partnership
Elon Musk has threatened to ban the use of Apple devices at his companies due to Apple's partnership with OpenAI. Musk cites security concerns over integrating OpenAI's ChatGPT into Apple’s operating systems. Read more
ByteDance to Invest $2.13 Billion in AI Hub in Malaysia
ByteDance has announced plans to invest $2.13 billion to establish an artificial intelligence hub in Malaysia. This initiative aims to boost technological innovation and economic growth in the region. Read more
OpenAI Faces Potential Lawsuit from Danish Media
Danish media outlets, represented by the Danish Press Publications’ Collective Management Organization, are considering legal action against OpenAI for using their content without permission to train its AI models. Read more
Microsoft Shutting Down GPT Builder Feature in Copilot Pro
Microsoft has announced the discontinuation of the GPT Builder feature in Copilot Pro. Users will no longer be able to create custom AI models after July 10, 2024. Read more
US Considers Imposing Further Restrictions on China's Access to AI Chips
The Biden administration is contemplating additional restrictions on China's access to advanced AI chip technologies, particularly those involving gate all-around (GAA) architecture. Read more
Polynome Group Announces $100 Million Fund to Support AI Startups in the UAE
Polynome Group has unveiled a $100 million investment fund to support AI startups in the UAE. The fund will focus on technology, AI software applications, and robotics. Read more