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- 8/29/23
8/29/23
Alpha
August 29, 2023
∆ Tech in the News
Big Tech Faces New EU Rules - The Digital Services Act now regulates US-based tech giants with the aim of addressing misinformation, algorithmically recommended content, and the spread of illegal or fake products.
Tesla’s $1B Supercomputer Play - Dojo, one of the world’s most powerful Supercomputers is going live to power Tesla’s AI applications, including data processing and training its FSD tech faster than ever.
Air Force Tests Wingman Drones - The Air Force wants $5.8B to build 2,000 of the experimental low-cost, AI-powered drones that can fly alongside fighter jets and perform tasks like refuelling, launching missiles, and intelligence.
AI Upgrades Thursday Night Football - Amazon adds AI to TNF streaming to engage and inform viewers with AI play predictions, identifying open receivers, and showing success probability for field goals.
VC Funding for Green Infrastructure Hits High - VC-backed companies in the built environment (making up around 1/4 of global emissions) have raised over $1.8B in H1 of 2023 - outpacing climate fundraising as a whole.
[POLL] Will you be using ChatGPT Enterprise? |
News Bytes
˚The hottest thing in tech this week
The GPT-4-powered Enterprise service is the biggest OpenAI announcement since ChatGPT’s debut according to CNBC. It includes access to GPT-4 without usage caps, performance up to 2x faster than previous versions, API access, enhanced privacy and data analysis, and performance and customization options.
One key differentiator is that Enterprise will allow clients to input company data to train and customize ChatGPT for their own industries and use cases. This feature unlocks data analysis customization features such as creating charts and performing math tasks.
The tool has been in development for “less than a year” and had the help of more than 20 companies of varying sizes including Block, Canva and The Estée Lauder Cos. An estimated 80% of Fortune 500 companies have teams actively using ChatGPT. OpenAI has specifically confirmed that the service encrypts corporate conversations.
ChatGPT Enterprise has cut down research time by an average of an hour per day, increasing productivity for people on our team. It’s been a powerful tool that has accelerated testing hypotheses and improving our internal systems.
Deals We’re Watching
Founders to Watch and Opportunities to Catch
Closed Deals:
Energy-as-a-Service Startup Gets Boost - Redaptive raised $125M from Deutsche Bank's U.S. arm to further their mission of saving clients money by taking on the upfront cost of building energy efficiency upgrades via sensors.
Fore Biotherapeutics Secures Funds - The precision oncology company closed a $75M Series D led by SR One and Medicxi to fund clinical development of its next-gen functional genomics platform that can screen genes for cancer.
Finda Secures Funds to Expand Platform - South Korean loan comparison platform Finda has raised $37M in a Series C to introduce new products like an AI fraud detection system and a specialised alternative credit rating model.
Companion Protect Disrupting Pet Insurance - The national pet insurance administrator closed out a $27M Series A to fuel digital innovation for their app providing a seamless, user-friendly pet insurance and wellness experience.
Companies to Watch:
Sequoia Backs AI Video Startup - Tavus’ platform helps companies including Nike, Coca-Cola, and Sephora customize videos for customers via GenAI voice and face cloning. They just raised $18M in Series A at an $80M valuation.