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Google invests $100M in RunwayML w/ major cloud contract
OpenAI starts Cybersecurity Grant Program
⚡ Today’s Highlights
📰 News: RunwayML gets $100M from Google w/ a major cloud contract + OpenAI starts Cybersecurity Grant Program
💰 Funding: GetYourGuide, OxeFit, Pixxel.space, MindsDB
🦾 Tools: A text-to-speech ChatGPT Plugin + Optimize your inbox with AI
📅 Events: Data Science Salon NYC is next week!
📰 Today's Top Stories
Generative AI startup Runway taps Google to lead a $100 million funding round and sign a major cloud contract
(4 min read) (Source: Business Insider)
TLDR: Google has invested $100 million in generative AI startup Runway as part of a larger deal, leveraging its cloud advantage to foster relationships with other AI players.
Runway has signed a $75 million cloud deal with Google over three years, with the contract set to take effect in August. This signifies Google's commitment to the partnership.
The investment from Google triples Runway's valuation to $1.5 billion, as its technology, which transforms images and videos with text, is used in the production of complex projects like the Oscar-winning film Everything Everywhere All At Once.
The cloud deal with Google provides Runway with essential infrastructure and support, contributing to its growth. The agreement might also mark a shift from Runway's previous partnership with Amazon as it chooses Google's cloud services.
Microsoft signs deal for A.I. computing power with Nvidia-backed CoreWeave that could be worth billions
(5 min read) (Source: CNBC)
TLDR: Microsoft has reportedly made a significant investment in cloud computing infrastructure from CoreWeave, a startup that provides simplified access to Nvidia's powerful GPUs to meet the growing need for computing power required for generative AI, triggered by OpenAI's introduction of ChatGPT.
Earlier this week, CoreWeave announced that it had secured an additional $200 million in funding from Magnetar Capital in an extension to their round, which last month secured $221 million also led by Magnetar Capital with contributions from NVIDIA, and rounded out by Nat Friedman and Daniel Gross.
Microsoft's investment in CoreWeave's cloud infrastructure highlights the importance of accessible computing power for AI models. As companies like Google and Microsoft embrace this technology, partnerships and funding in the AI space continue to shape the future of artificial intelligence, leading to remarkable growth in companies like Nvidia and CoreWeave.
(4 min read) (Source: OpenAI)
TLDR: OpenAI announces the launch of the Cybersecurity Grant Program, a $1 million initiative aimed at enhancing AI-powered cybersecurity capabilities and promoting discourse at the intersection of AI and cybersecurity.
The program focuses on empowering defenders, quantifying the cybersecurity capabilities of AI models, and elevating discussions in the field. OpenAI invites proposals for practical applications of AI in defensive cybersecurity, offering funding increments of $10,000 USD from the $1 million fund.
(5 min read) (Source: CNBC)
TLDR: Alibaba has started deploying its own ChatGPT-style technology, developed in response to the success of OpenAI's AI chatbot. Alibaba's large language model, called Tongyi Qianwen, will be integrated into a digital assistant named Tingwu, capable of analyzing multimedia content and generating text summaries.
The AI-powered assistant, initially integrated into Alibaba's business-focused messaging service DingTalk, will undergo further enhancements such as real-time translation between English and Chinese for multimedia content. Alibaba plans to collaborate with corporate cloud customers to develop customized AI products based on the Tongyi Qianwen model.
💰 Funding Alerts
1. GetYourGuide, a global online marketplace for discovering and booking travel experiences, raised $194 million in equity and credit financing in a recent funding round, led by Blue Pool Capital for the $85 million Series F funding and UniCredit for the $109 million Revolving Credit Facility (RCF), with participation from KKR, Temasek, BNP Paribas, Citi, and KfW.
GetYourGuide’s marketplace offers a wide range of unique activities and exclusive bucket-list experiences.
With the funding, GetYourGuide plans to expand its marketplace in key geographies, particularly North America, and invest in product innovation to enhance the travel experience for both travelers and experience creators globally. They will leverage AI and Large Language Models (LLMs) to accelerate innovation and provide intuitive tools for supply partners to manage and grow their businesses on the platform
2. OxeFit, a digital fitness and technology company, raised $20 million in an oversubscribed Series A2 funding round, with participation from professional athletes such as Harry Kane, Dak Prescott, Dustin Johnson, Jalen Ramsey, Wayne Gretzky, and Taylor Gooch.
OxeFit produces the XP1 and XS1 strength training systems, using advanced robotics and artificial intelligence to revolutionize connected fitness.
With the funds, OxeFit plans to scale production of the XP1 and XS1 systems to meet growing demands from consumers, athletes, training facilities, and rehabilitation centers. They aim to provide a personalized fitness experience and expand their presence in fitness centers, sports teams, colleges, and other facilities across the U.S.
3. Pixxel.space raised $36 million in a Series B funding round, with participation from new investor Google, and existing investors Radical Ventures, Lightspeed, Blume Ventures, growX, Sparta, and Athera.
Pixxel is a leading company in hyperspectral earth-imaging technology, utilizing AI to provide actionable climate insights on a planetary scale.
With the funding, Pixxel aims to build the world's first and highest-resolution hyperspectral satellite constellation, launch 6 satellites in 2024, and an additional 18 satellites by 2025. The funds will also support the further development of Aurora, Pixxel's AI-powered analytics platform, making hyperspectral analysis accessible to a wider audience.
4. MindsDB raised an additional $25 million in financing, led by new investor Mayfield, with participation from TQ Ventures and existing investor Benchmark Capital. This brings their total seed capital raised to $41.5 million and total funds raised to $50 million.
MindsDB is an open-source AI project that enables developers to rapidly deploy AI and machine learning applications by connecting various data sources with AI innovations.
With the funding, MindsDB plans to accelerate the expansion of its AI-Logic Cloud platform, further develop its product capabilities, support its customer base, nurture its community, and position itself as a cornerstone of the new AI-web.
🦾 Trending Tools
Speechki revolutionizes text-to-speech with its ChatGPT Plugin. Transform generated text into lifelike audio within ChatGPT. Over 500 voices in 77 languages, user-friendly interface, and seamless integration. Make your content come alive with Speechki!
SaneBox optimizes your inbox. Let the AI assistant organize your emails, keeping you focused on what matters. Enhance productivity and save time with SaneBox's intelligent features.
Siit is an AI assistant for employee support. Instantly answer employee questions through Slack and Teams using internal knowledge bases. Streamline support, automate requests, and enhance employee experience.
Rep AI can help boost your eCommerce sales with it’s Sales Concierge chatbot. Powered by Behavioral AI and Generative AI, it boosts conversions, increases order value, and provides 24/7 customer support.
Roll revolutionizes remote video production with AI. Record studio-quality videos with special effects using just your phone. No need for expensive equipment or editing. Simplify the process and publish in minutes.
👀 More Reading:
Chief executives cannot shut up about AI (The Economist)
Two Cheers for ChatGPT in the Classroom (The Wall Street Journal)
Move fast and break… your brain? (Politico)
Most Aliens May Be Artificial Intelligence, Not Life as We Know It (Scientific American)
🌎 Fresh Content
1. Bestselling author and historian Yuval Noah Harari recently joined pioneer AI developer and Turing Award winner Yoshua Bengio at the C2 Montreal conference to discuss the future of AI and how it will affect society and democracy. (YouTube)
2. NVIDIA Research created a tool for 3D reconstruction using neural networks called Neuralangelo which turns 2D video clips into detailed 3D structures, generating lifelike virtual replicas of buildings, sculptures and other real-world objects. (YouTube)
📅 Upcoming Events
Don’t miss Data Science Salon NYC (June 7-8, 2023 / New York, NY, USA + Virtual), the annual one-day 150-person conferences focused on AI and machine learning applications in finance & technology (June 7) and media & advertising (June 8). Finance & Technology takes place at S&P Global Market Intelligence and Media & Advertising takes place at Blender Workspace in the heart of NoMad. The events bring local industry leaders and specialists face-to-face to educate each other on innovative solutions in artificial intelligence, machine learning, predictive analytics and acceptance around best practices. Register today to attend in-person or virtually!
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