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Perplexity's $9B Valuation, OpenAI's New Domain, and UK's AI Legislation Plans - Daily AI Brief
Stefan
November 07, 2024
Hi there,
Another edition of the Daily AI Brief is ready for you! Today we cover Perplexity’s remarkable growth, a significant domain acquisition by OpenAI, new initiatives from Google Cloud, and more insights into the AI landscape.
Let's dive into these stories right away:
Perplexity, an AI search engine, is on track for a $9 billion valuation after a $500 million funding round. Growing from a $520 million valuation earlier this year, the company handles over 100 million weekly queries. Perplexity has faced a copyright lawsuit over content use but seeks revenue-sharing partnerships with publishers. Read more
OpenAI acquired Chat.com for over $15 million, adding to its domain collection that includes ChatGPT.com and ai.com. This acquisition was confirmed by former owner Dharmesh Shah, who likely received OpenAI shares as part of the deal. Chat.com redirects to ChatGPT but hints at no brand shift. Read more
Google Cloud launched Emerging ISV Partner Springboard, a 12-week program to boost AI startups in India. The initiative offers mentorship, technical guidance, and cloud credits, alongside the new Startup School: GenAI. This move underscores Google’s support for AI innovation in the region. Read more
OpenAI CEO Sam Altman discussed the challenges of scaling after ChatGPT's rapid rise, highlighting the abrupt shift from a research-focused entity to a customer-driven company. Altman reflected on navigating unprecedented growth without a clear roadmap, positioning OpenAI as a top AI contender. Read more
NVIDIA has released Isaac Lab 1.2 on GitHub, featuring six new workflows for humanoid robotics under Project GR00T. The tools support complex simulations and are adopted by industry leaders like Boston Dynamics. The release highlights NVIDIA’s commitment to advancing robotics and simulation. Read more
44.01, an Oman-based startup supported by Sam Altman’s Apollo Projects, plans to secure more funding and explore an IPO. Specializing in CO2 capture and mineralization, the company aims to scale its unique carbon capture technology. Read more
London-based Emerge has raised £56 million to support AI-focused education and future-of-work startups, targeting scalable solutions in talent sourcing and workplace learning. The firm aims to fund 25-27 startups, with an emphasis on deeptech innovation. Read more
Thesys secured $4 million in seed funding to develop dynamic AI interfaces. The California-based startup aims to replace traditional UI elements with adaptive, personalized experiences. Backed by Together Fund and 8vc, Thesys is gearing up for broader market expansion. Read more
LG Uplus Corp. will invest $2.1 billion to become an AI transformation company. It recently introduced the ixi-O AI call agent, equipped with on-device processing for enhanced security and capabilities like voice phishing detection. Read more
The UK will introduce AI legislation in 2025, formalizing current voluntary testing frameworks and investing in AI infrastructure. DSIT Secretary Peter Kyle outlined plans for an independent AI Safety Institute and new funding to support sovereign computing capacity. Read more
Nvidia has teamed up with Hugging Face to boost open-source robotics, combining their respective technologies to improve robotics research and development. This partnership will leverage LeRobot and Nvidia's AI capabilities, enhancing workflows and cost-effective designs. Read more
Ada Ventures introduced AdaGPT, a tool that offers AI-driven feedback on pitch decks. Designed to help startup founders fine-tune presentations before approaching investors, this free tool preserves anonymity and provides qualitative insights. Read more
Station Ai, Japan's biggest innovation hub, was unveiled in Aichi Prefecture as part of the “Startup City Project Japan.” The facility covers 23,000 square meters and fosters collaboration among 500 startups and over 200 companies. Read more
QXO, a leader in the building products distribution industry, has appointed Ashwin Rao as its Chief AI Officer. With a background in theoretical computer science and Wall Street quant strategy, Rao will spearhead QXO’s AI initiatives to enhance supply chain efficiency. Read more
Research Grid raised $6.5 million in seed funding for its AI-powered automation engine, TrialEngine, which simplifies data management and patient engagement in clinical trials. The company plans to expand in Asia and the U.S. markets. Read more
The UN General Assembly approved 14 draft resolutions, one focusing on AI's implications in the military domain. This resolution urges global cooperation to address AI's challenges and ethical concerns. Read more
Japan will collaborate with AI chip startup Tenstorrent in a $50 million deal to train 200 engineers, revitalizing its semiconductor industry. The program begins in 2025, supported by the Japanese government and LSTC. Read more
Saudi Arabia announced 'Project Transcendence,' a $100 billion AI and data infrastructure initiative aimed at boosting AI products and creating partnerships with global tech firms. This project aims to foster AI talent and economic growth. Read more
Acai Travel raised $4 million to enhance AI-powered tools for travel agents. The investment will aid in developing an operating system to modernize travel operations and improve the traveler experience. Read more
Pulse, an AI SaaS platform from Hyderabad, secured $1.4 million in funding. Specializing in Agentic AI, which adapts and makes decisions, Pulse helps SaaS companies analyze customer feedback and align their products with market needs. Read more
That's it for today. If you liked this edition of the Daily AI Brief, please consider sharing it with friends and coworkers!
Cheers,
Stefan