🤖 Elon Musk’s Plan to Raise $1 Billion for xAI

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In today’s AI Report:

• 🏦Elon Musk’s Plan to Raise $1 Billion for xAI

• ⚙️Microsoft Bing’s New Deep Search Feature

• 🛠5 Trending Tools

• 💰Venture Capital Updates

• 💼Who’s Hiring?

Read Time: 3 minutes

🗞RECENT NEWS

XAI

🏦Elon Musk’s Plan to Raise $1 Billion for xAI

Elon Musk’s artificial intelligence startup, xAI, has submitted an SEC filing to raise $1 billion in equity investments.

Key Details:

• xAI seeks to build AI systems to accelerate human scientific discovery for “advancing our collective understanding of the universe.”

• The venture has already secured nearly $135 million from four investors with a “binding and enforceable agreement” to purchase the remaining shares.

• Last month, Musk informed investors of Twitter they own 25% of xAI: “We’re a separate company from X Corp., but we’ll work closely with X and Tesla to make progress towards our mission.”

• Earlier this year, Musk acquired thousands of Nvidia’s high-powered processors to build language models with comprehensive data sets like xAI’s conversational chatbot Grok.

Why It’s Important:

• On a Tesla earnings call in July, Musk told analysts about xAI’s talent acquisition strategy: “Some of the world’s best AI engineers and scientists were willing to join a startup but not a large, established company like Tesla. So, I was like, better it’s a startup I run.”

• xAI’s team includes alums of Google DeepMind, OpenAI, and Microsoft Research. They’ve worked on projects like DeepMind’s AlphaCode and OpenAI’s GPT-3.5 chatbot. With adequate funding, this team can create products and services to rival OpenAI’s current offerings.

MICROSOFT

⚙️Microsoft Bing’s New Deep Search Feature

Microsoft Bing recently announced “Deep Search,” a new feature powered by OpenAI’s GPT-4 to provide tailored answers for complex search queries.

Key Details:

• The new search engine enhances Bing’s current website index and ranking system, allowing users to access more relevant and comprehensive answers to questions in 30 seconds.

• For example, a user is researching loyalty programs in different countries and enters the query, “How do point systems work in Japan?”

• Bing’s Deep Search will expand the simple query: “Explain how various loyalty card programs function in Japan, including the benefits, requirements, and limitations. Provide examples of popular loyalty cards for different categories, like convenience stores, supermarkets, and restaurants.”

Why It’s Important:

• With the expanded descriptions of simple queries, Bing can find the possible intents and create a comprehensive result with relevant information that doesn’t appear in typical searches.

• Once Deep Search has collected web pages, it ranks them based on details, trustworthiness, and popularity.

🛠TRENDING TOOLS

👨‍🏫Learniverse adjusts and adapts your curriculum seamlessly as you evolve.

💬Seeker is a retrieval-augmented generation chat platform that securely extracts and analyzes information from large data sets.

🏡Promptden is an extension that supercharges your experience with OpenAI’s ChatGPT, Google’s Bard, and Anthropic’s Claude 2.

💻Mixo launches a website, business, startup, or product in seconds to validate key assumptions for entrepreneurs.

📝Circleback provides AI-written action items and meeting notes you can trust.

💰VENTURE CAPITAL UPDATES

• Cloudsmith secures $11M in Series A2 for supply chain management software.

• Mine ensures $30M for its no-code approach to vetting data privacy.

• Kyron Learning raised $14.6M to expand its conversational AI technology.

💼WHO’S HIRING?

• TwoSix Technologies (San Antonio, TX): Cybersecurity Intern, Summer 2024

• Simbe (San Francisco, CA): Robotics Software Engineer Intern, Summer 2024

• OpenAI (San Francisco, CA): Copyright Counsel

• Anthropic (San Francisco, CA): Forward Deployed Engineer

• Cohere (New York, NY): VP Marketing

🤖PROMPT OF THE DAY

LAW

👨‍⚖️Personal Corporate Attorney

Act as a corporate attorney specializing in technology contracts. Review [Agreement] and identify potential areas where liability could be limited, focusing on indemnity and the limitations of liability clauses.

Agreement = [Insert Here]

📒FINAL NOTE

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❤️AI Pulse Review of The Day

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