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- 🤖 The $100 Billion Nvidia Competitor?!
🤖 The $100 Billion Nvidia Competitor?!
PLUS: Reddit Inks Major AI Deal, Level up Your Notes With NotebookLM
James Roesser
February 20, 2024
Welcome back AI enthusiasts!
In today’s AI Report:
🤯The $100 Billion Nvidia Competitor?!
🖋Reddit Inks Major AI Deal
📔Level up Your Notes With NotebookLM
🛠5 Trending Tools
💰Venture Capital Updates
💼Who’s Hiring?
Read Time: 3 minutes
🗞RECENT NEWS
SOFTBANK
🤯The $100 Billion Nvidia Competitor?!
Image Source: Dianna Bonner/Financial Times
SoftBank founder and multi-billionaire Masayoshi Son is raising $100 billion to bankroll a chip venture called “Project Izanagi” to compete with Nvidia.
Key Details:
Project Izanagi would partner with Arm, a chip design firm that SoftBank sponsored and made public last year in exchange for 90% of Arm’s stock.
Arm has been accelerating investments to expand the engineering team to develop new technologies like AI models and computer vision tools.
SoftBank plans to collect $30 billion from its Vision Fund and pursue Middle-Eastern institutional investors to collect the other $70 billion.
Since March 2023, SoftBank has been gradually selling its lucrative stake in Chinese e-commerce titan Alibaba to funnel money into AI developments.
Chief financial officer Yoshimitsu Goto explained: “We’re getting ready to go on the offensive with the AI revolution on the horizon.”
Why It’s Important:
Global titans are rushing to become the providers of state-of-the-art chips for AI systems to help firms build language models and deploy compute-intensive workloads.
Achieving Artificial General Intelligence (AGI) to enable machines to learn and think like humans will require companies to continue scaling compute power.
Chip shortages are a critical bottleneck for AI advancements. As the demand for hardware rises among competitive AI ventures, semiconductor factories like Nvidia will continue to profit.
🖋Reddit Inks Major AI Deal
Image Source: Antonio Zugaldia/Flickr
Reddit reportedly signed a licensing agreement with an undisclosed corporation worth $60 million annually to provide user-generated content for AI model training.
Key Details:
This new licensing agreement exemplifies a strategic pivot as Reddit prepares itself for an initial public offering (IPO).
Most AI firms train their data on public internet content without seeking permission. However, that’s recently been proven legally questionable, leading companies to retrieve data through strategic partnerships.
Reddit threatened Google and Bing to create a data-training deal if they wanted to leverage the company’s content for language models.
Reddit successfully stonewalled data-scraping tools and spiked the price of third-party API access to filter out developers and protect the integrity and regulation of the site’s data.
Why It’s Important:
Reddit users are responsible for creating troves of valuable content without compensation, sparking backlash over Reddit’s decision to use their data commercially to train AI models.
Social media platforms generate vast amounts of data (e.g., text, images, and videos), which can be used to train AI systems performing tasks like image recognition and sentiment analysis.
🩺 PULSE CHECK
Should Reddit compensate users for creating troves of valuable content?Vote Below to View Live Results |
AI TIPS
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🛠TRENDING TOOLS
🏦TaxGPT simplifies your tax season with personalized answers and maximized refunds.
🗺Squad is a product strategy and roadmap platform.
🥰FirstPic finds your best dating app photos.
📸Glif remixes any image on the web.
📱SynthMind enhances lead generation with real-time client profiling and verification checks.
🔮Browse our always Up-To-Date AI Tools Database.
💰VENTURE CAPITAL UPDATES
Armilla AI raises $4.5M in seed funding to safeguard enterprises from AI risks.
Oxford-based MeVitae secures $1.8M to keep making the workplace more fair and equitable.
Kakao Ventures backs Korean startup SqueezeBits, which raised a $2M pre-Series A round.
💼WHO’S HIRING?
🤖PROMPT OF THE DAY
CLIENTS
🤝Conduct Better Client Kick-off Calls
Give me ideas on how to conduct a kick-off call with a new accounting client with [Number of Employees] and [Annual Revenue].
Number of Employees = [Insert Here]
Annual Revenue = [Insert Here]📒FINAL NOTE
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