7/28/23

∆ Tech in the News

• Newest Room-Temp Superconductor: Nobel Prize Worthy? - This latest discovery of levitating material could lead to a new era of computing, energy, and transportation.

• AI Titans Unite for Safety Creating the Frontier Model Forum - Tech giants aim - Google, Microsoft, OpenAI, etc - join to develop standards for better AI trust and safety.

• Campaign Finance Charges Dropped for SBF - Criminal charges of campaign finance were removed despite over $90M in political donations by Sam Bankman-Fried and FTX.

• OpenAI Pulls Plug on Ineffective AI Detection tool - The AI Classifier was quietly cancelled due to <30% accuracy.

• Newest LLMs Break The Turing Test - The growing sophistication of LLMs renders Turing Test inadequate.

˚The hottest thing in tech this week

Amazon Web Services: Your Keys to the AI Kingdom with Bedrock

AWS’ new Bedrock Foundational Models (FM) are taking Generative AI adoption to the next level by empowering customers to develop apps with the most comprehensive AI toolkit on the market, partnering with Anthropic’s Claude, Stability, and Cohere.

Big names like Bridgewater and Lonely Planet are already on board. The expansion suggests a likely spike in AI adoption across industries, making Amazon a potential frontrunner in the AI revolution.

AWS also announced HealthScribe a HIPAA-compliant AI speech-recognition tool that transcribes patient visits to generate summaries for doctors.

Deals We’re Watching

Founders to Watch and Opportunities to Catch

Closed Deals:

•  $1.2B Unicorn in 3 Months - London Web3 and AI Cybersecurity startup Zyber 365, raised $100M in Series A funding from UK's SRAM & MRAM Group.

• Protect AI raises Series A - Evolution Equity Partners led a $35M round to provide robust cybersecurity for AI and ML applications.

• Empowering Clinician’s to Make Better Decisions - The AI-powered cardio-vascular diagnostics and treatment platform (RapidAI) capped its Series C at $75M led by Vista Credit Partners.

• AutogenAI Pitch Tools - The startup pioneering generative AI for business pitches, closed a $22.3M Seed round from Blossom Capital.

• Collaborative Robotics Rakes in $30M - Brad Porter’s project raised $30M from Sequoia to streamline end-to-end warehouse and shipping logistics.

Companies to Watch:

TSMC will invest $2.9B to build a plant in Taiwan for advanced packaging of high-performance AI-ready semiconductors.

Shopify Enablement Platform Brings in Another $95M - PSG joined Silversmith to fuel an ambitious M&A growth strategy.

Hippocratic AI Adds $15M - bringing total seed funds raised to $65M led by General Catalyst and A16z to prevent harm from medical AI tools.

Foundry Technologies Sprinting to the Next Round - talks to raise their series A at $350M (7x increase in 9 months) to provide servers to clients to run AI models.

Avalanche Foundation's $50M Asset Tokenization Acquisition - Blackrock CEO, Larry Fink, is supporting 'Avalanche Vista' - a move to spotlight blockchain tokenization's potential in real world assets.

We want to make our next issue even better with your input. If you're involved in an exciting deal or know someone who is, we'd love to hear from you and possibly feature your deal in our next newsletter.

Let's continue to illuminate the tech landscape together, one deal at a time.

The Tech Buzz Team