New Nvidia competitor?
February 20, 2024
Good morning. Today's tiny tech highlight features a YouTuber discovering the world's smallest working Game Boy. It seems while AI tackles universe-sized problems, this little gadget is here to play big in the game of joy.
In today’s newsletter:
💷 Reddit licenses trove of user content to unnamed AI firm, raising ethics concerns: $60M annual deal gives model training access ahead of IPO, following threats to cut off search engines
🧠 SoftBank’s Masayoshi Son is reportedly seeking $100B to build a new AI chip venture: In a bold move to enter the competitive AI chip market, SoftBank's founder plans to partner with Arm for the Izanagi project, aiming to rival Nvidia and capitalize on the burgeoning demand for AI processors.
🚀 Dili aims to transform the tedious due diligence process in investments with its AI-powered platform: Founded by ex-Coinbase executives, the startup has secured $3.6 million in funding to automate and streamline portfolio management
📸OpenAI achieves a landmark $80 billion valuation after a strategic deal led by Thrive Capital, emphasizing the rapid growth and potential of AI technology as it seeks to revolutionize chip production for AI advancements.
❓️ Misc:
AI can determine sex based on a brain scan (link)
📊 Funding:
Xensam raised $40M for AI that manages software assets (link)
Mechanical Orchard raised $24M to solve the legacy IT modernization challenge (link)
💰Jobs in AI:
Senior Machine Learning Engineer: Sentry (sentry.io) · San Francisco Bay Area · Hybrid · Full-time · Mid-Senior level. (Apply here)
TOGETHER WITH BRAVE
Connect your AI to the Web
The Brave Search API brings affordable developer access to the Brave Search index: an independent index of the Web with over 20 billion web pages. So, what makes the Brave Search index stand out?
It’s entirely independent and built from scratch—that means no Big Tech biases or extortionate prices.
It’s built on real page visits from actual humans—collected anonymously, of course—which filters out tons of junk data.
The index is refreshed with tens of millions of pages daily, so it always has accurate, up-to-date information.
The Brave Search API can be used to assemble a dataset to train your AI models and help with retrieval augmentation at the time of inference. All while remaining affordable with developer-first pricing.
Integrating the Brave Search API into your workflow translates to more ethical data sourcing and more human-representative datasets.
⭕️ Reddit Sells User Content Access for AI Training
Reddit has signed a deal reportedly worth around $60 million annually to let an unnamed "large AI company" access over a decade's worth of its user-generated content. This comes as Reddit prepares for its upcoming IPO.
Monetizing a Vast Cache
The deal allows the undisclosed AI firm to tap into Reddit's vast vault of community contributions for model training. This follows Reddit's threatening to cut off search engines’ access to its data if it couldn't broker training deals.
Playing Hardball
Reddit has shown a willingness to play hardball in negotiations before, like when it stonewalled community backlash over API changes. The new user content deal offers a timely revenue boost for Reddit as it seeks to go public with a reduced $5 billion valuation.
Murky Legalities and Ethics
Until recently, most AI firms trained models on open web data without explicit permission, but questionable legality is driving more formal deals for authorized access. However, commercializing user data raises ethical concerns and risks irking contributors who are wary of their work being monetized.
SoftBank’s Ambitious $100 Billion Bid to Revolutionize AI Chips 🚀
Masayoshi Son, CEO of SoftBank Group, is reportedly seeking a $100 billion investment to launch a new venture, Izanagi, focused on developing AI chips, potentially competing with industry leader Nvidia. This venture aims to collaborate with Arm, a chip design company in which SoftBank owns approximately 90% of the stock. The fundraising strategy may involve securing around $70 billion from Middle Eastern institutional investors, with SoftBank contributing the remaining $30 billion. This move aligns with SoftBank's shift towards AI, following significant returns from its early investment in Alibaba and a strategic decision to sell off parts of its stake to fund AI ventures. The details of the new project, including technology builders and timelines, remain undisclosed.
Dili Raises $3.6M to Revolutionize Investment Due Diligence with AI 🚀"
Stephanie Song, inspired by the tedious task of due diligence in investments, co-founded Dili with former Coinbase colleagues Brian Fernandez and Anand Chaturvedi. Dili, a Y Combinator graduate, has raised $3.6 million to automate investment due diligence and portfolio management for private equity and VC firms using AI. The platform uses generative AI models to streamline investor workflows, such as parsing company data and conducting competitive analysis. Despite concerns about AI's accuracy and bias, Dili aims to become an end-to-end solution for investors due to diligence and portfolio management, having piloted with 400 analysts across various funds and banks.
OpenAI Hits $80 Billion Valuation, Pioneering AI's Future with Strategic Chip Venture 💡
OpenAI, backed by Microsoft, has concluded a deal that pegs its valuation at over $80 billion, as reported by the New York Times. This valuation arises from a tender offer led by Thrive Capital, allowing employees to liquidate their shares instead of traditional fundraising for company capital. This strategy follows a precedent set last year when Thrive Capital, along with Sequoia Capital, Andreessen Horowitz, and K2 Global, participated in a tender offer valuing OpenAI at $29 billion. The surge in OpenAI's valuation is partly attributed to the significant interest generated by ChatGPT since its 2022 launch, which has spurred companies to explore AI's potential further. Additionally, OpenAI's CEO, Sam Altman, is reportedly seeking funding for a chip venture to enhance global AI chip production capabilities.
😡
You’re too good at this now.
In twilight's glow, candles dance, whispers of light in romance.
Their flames bow in silent grace, casting warmth in every space.
Image 1
Which image is real? |
Image 2
Netjet.io: A nocode website builder. (link)
Clearword: An AI meeting assistant to automate note-taking, action items, emails, and CRM updates. (link)
Excalidraw: An online drawing and collaboration tool to create and export artwork. (link)
Twip AI: A tool for YouTube workflows, generate scripts, and optimize content. (link)
Floutwork: An productivity app to focus, streamline tasks and improve work efficiency. (link)
Have cool resources or tools to share? Submit a tool or reach us by replying to this email (or DM us on Twitter).
*Indicates a sponsored link
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A meme before you go 👇
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