🤖 U.S. Government Forces Saudi Fund to Sell Altman-Backed Startup

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In today’s AI Report:

• 🥊U.S. Government Forces Saudi Fund to Sell Altman-Backed Startup

• 🦾Google DeepMind and Robots Join Forces

• 🛠5 Trending Tools

• 💰Venture Capital Updates

• 💼Who’s Hiring?

Read Time: 3 minutes

🗞RECENT NEWS

FOREIGN AFFAIRS

🥊U.S. Government Forces Saudi Fund to Sell Altman-Backed Startup

The Biden administration recently forced a Saudi-backed venture capital firm to sell its shares in a startup supported by OpenAI CEO Sam Altman.

Key Details:

• Rain Neuromorphics, a startup designing AI chips that provide an unparalleled balance between performance and energy efficiency, raised $25 million in 2022.

• Aramco’s Prosperity7, a lead investor in the $25 million round for Rain Neuromorphics, sold its shares in the venture following a review by the Committee of Foreign Investment in the United States (CFIUS).

• The U.S. Treasury, which oversees the CFIUS, released a statement: “CFIUS is committed to taking all necessary actions within its authority to safeguard U.S. national security. Consistent with law and practice, CFIUS doesn’t publicly comment on transactions it may or may not be reviewing.”

Why It’s Important:

• CFIUS is an interagency committee focused on screening foreign investments in U.S. businesses and real estate deals that implicate national security concerns.

• The Biden administration has taken steps to reduce AI development in the Middle East. In August, the U.S. widened export restrictions on sophisticated Nvidia processors and AMD chips that assist machine-learning tasks.

GOOGLE

🦾Google DeepMind and Robots Join Forces

Google DeepMind launched an AI system called GNoME to graph networks for material exploration and generate recipes for potential inorganic compounds.

Key Details:

• A-Lab, an autonomous system combining robotics with AI software to develop entirely new materials, generates recipes for batteries or solar cells. Then, it performs synthesis screening and analyzes the products without human intervention.

• Google DeepMind enhanced this process with GNoME, an AI system built to tweak combinations of existing compounds to make predictions.

• Using 48,000 compounds from the Materials Project, GNoME created 2.2 million potential compounds.

• Of those potential compounds, 381,000 new inorganic compounds are being added to the Materials Project database.

Why It’s Important:

• A-Lab’s state-of-the-art robotics provide “the capability to rapidly make these new materials,” GNoME generates.

• DeepMind’s projects have resulted in MetNet-3’s weather forecast model and AlphaFold’s advanced drug discovery framework.

🛠TRENDING TOOLS

🤣Dumb Meme Generator transforms tailored prompts into comedic memes.

📑PDFConvo allows you to interact with PDFs by generating summaries and answering clarifying questions.

🚀Longshot researches, generates, and optimizes content for enterprises with user-sourced data containing zero hallucinations.

💻Clevis builds AI-powered apps and automation without writing code.

🔊Audyo creates audio through writing in Google Docs.

💰VENTURE CAPITAL UPDATES

• Failup Ventures closes first $32M fund to back early-stage mission-driven teams.

• Google is likely to inject another $4M into AI startup Corover.

• Every.io raises $9.5M in seed funding to develop an all-in-one HR and Finance Suite.

💼WHO’S HIRING?

• Salesforce (Remote): Leading Solutions Engineer, Marketing Cloud

• Hugging Face (Remote): Machine Learning Internship, Alignment

• Wayfair (Austin, TX): Software Engineering Intern, Summer 2024

• Discord (San Francisco, CA): Software Engineer Intern, Security

• AppLovin (Palo Alto, CA): DevOps Intern, Summer 2024

🤖PROMPT OF THE DAY

TAXES

🏦Reduce Tax Burden

Identify commonly overlooked tax deductions and benefits that [Industry] small businesses with [Current Revenue and Profit Margin] can use to reduce their tax burden and maximize their savings.

Industry = [Insert Here]

Current Revenue and Profit Margin = [Insert Here]

📒FINAL NOTE

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