Boulder, Colorado-based Enveda, which combines AI with ancient remedies for drug discovery, raised a $55M Series B extension from investors including Microsoft — For centuries, people chewed willow tree bark to relieve pain, but scientists at chemical firm Bayer didn't isolate its active ingredient until the 1800s
Amazon and telecom Vrio plan to launch a satellite internet service in Argentina, Brazil, Chile, Uruguay, Peru, Ecuador, and Colombia, coming online in mid-2025 — Amazon (AMZN.O) and telecommunications firm Vrio will jointly launch a satellite internet service in seven South American countries …
Dublin-based AccountsIQ, which offers AI-powered bookkeeping, raised €60M, after raising just €12.7M in its nearly 20 year history, and reports 1,000 clients — The European economy is on shaky ground, but there is a silver lining for enterprise startups: Those building tools …
Ant Group spent a record ~$2.9B on research in 2023, as the Alibaba affiliate develops its BaiLing LLM; Ant and affiliate MYbank served 87M businesses by 2023 — Founded by Jack Ma, Ant has been developing technology including its large language model BaiLing, which won approval …
Rubrik reports Q1 revenue up 38% YoY to $187.3M, above $171.5M est., and ARR up 46% YoY to $856.1M, in the cybersecurity company's inaugural post-IPO earnings — - Rubrik's revenue and subscription revenue both beat forecasts — Firm went public at a volatile time for cybersecurity firms
UAE Minister of AI and Digital Economy Omar Al Olama says fears over China using Middle Eastern countries to overcome US sanctions on AI chips are “valid” — But we're America's friends, insists Omar Al Olama — Fears that China could be using Middle East countries as a proxy …
UAE-based Tenderd, which uses AI to help reduce emissions, raised $30M led by Danish firm A.P. Moller, following a Peter Thiel-backed $5.8M seed in 2019 — - Oil giant set up Wa'ed Ventures to invest in tech startups — Tenderd says Aramco, Maersk are potential new customers
Apple's OpenAI partnership took up just two minutes of its one hour and 45 minute WWDC keynote, as the company focused on its own Apple Intelligence products — Apple's keynote presentation at its Worldwide Developers Conference lasted more than an hour and 45 minutes, but only about two minutes were devoted to OpenAI's ChatGPT.
Raspberry Pi jumps by up to 39% on its London trading debut, hitting a £542M market cap, after pricing shares at £2.80, and expects to ship 8.4M PCs in 2024 — Listing set to give creator of low-cost computers a market valuation above £542mn
Sources: Shein recorded $32.2B in sales in 2023, up 40% YoY, compared with 37% YoY growth in 2022, and doubled its net profit to $1.6B, for a 5% profit margin — China-founded fast fashion giant Shein lifted its net profit margin even as it posted slightly faster revenue growth in 2023 …
Nokia CEO Pekka Lundmark made a phone call using new “immersive audio and video” tech that uses 3D sound on a 5G smartphone, as part of the 5G Advanced standard — Nokia (NOKIA.HE) CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” …
A look at the problems of building AI products, like inaccurate answers, and potential solutions, like focusing on narrow domains and abstracting the outputs — I will fly to India on Monday for a brief trip, and so I just spent an hour struggling through a very buggy online visa application process.
Data suggests Project Green Light, Google's AI system deployed in 14 cities to adjust traffic light timing, reduced stop-and-go traffic at intersections by 30% — Most cities can't afford smart traffic signals. Fortunately, data from new cars—and even drivers' smartphones—can make old-fashioned traffic lights work a lot better.
Apple's AI push isn't so much about its current devices, but enabling its next wave of AI-intensive devices that may eventually supplant a smartphone — Apple's push into artificial intelligence will go beyond software and help enable a wave of next-generation devices.
How Uber-owned Careem went from Pakistan's ride-hailing leader to a distant third player after deprioritizing the country due to its unstable economy — After falling from dominance, Careem is experimenting — from corporate rides to price bidding — to maintain its presence in Pakistan.
Dean Takahashi / VentureBeat : Belgium-based Vertical Compute, a memory chip firm spun out of European VC firm Imec.xpand, raised a €20M ...
