AI in Business
Apple claims to have evidence that a former employee destroyed evidence related to allegations of stealing company data for OpenAI after becoming aware of an investigation. The case involves accusations of intellectual property theft between Apple and OpenAI. Source: TechCrunch
AI in Business
Polimill is developing public AI infrastructure for Japanese municipalities, leveraging OpenAI's GPT models and Codex to enable local governments to search and access administrative knowledge. The platform aims to accelerate development and improve access to public information systems. Source: OpenAI
AI in Business
ChatGPT Ads has reached a $1 billion annualized revenue run rate and is expanding globally. The product aims to support broader access to AI through free and affordable options. Source: OpenAI
AI in Business
Mamor Capital has secured institutional backing to raise R300 million for its first fund, which will be deployed into scalable South African technology businesses. The venture capital firm is now positioned to invest in local tech start-ups seeking growth capital. Source: ITWeb
AI in Business
Clipto, a video search startup using AI, has achieved $15 million in annual recurring revenue and reached profitability before raising a $15 million funding round. The company is now valued at $250 million after three years of operation. Source: TechCrunch
AI in Business
An article discusses how artificial intelligence is transforming network management and the infrastructure readiness required for AI-driven network systems. The piece examines whether organizations have the foundational components necessary to support AI-based network management solutions. Source: ITWeb
AI in Business
Nvidia is investing $3.5 billion in Taiwanese chipmaker MediaTek as part of its strategy to remain central to AI infrastructure development. The investment reflects Nvidia's response to major technology companies beginning to design and manufacture their own custom AI chips. Source: TechCrunch
AI in Business
Tati Software has expanded its business through participation in the AWS South Africa Equity Equivalent Investment Programme, which provides funding and support to local technology companies. The programme has helped broaden the company's operational and commercial horizons. Source: ITWeb
AI in Business
Caterpillar is leveraging its decades of experience with autonomous mining equipment to inform its approach to artificial intelligence deployment. The company is applying operational lessons from remote site automation to broader AI implementation strategies. Source: TechCrunch
AI in Business
Vijay Pande, former head of Andreessen Horowitz's $4 billion biotech practice, launched VZVC, an AI-native venture fund taking a more selective investment approach with fewer annual bets. Pande discusses how AI is enabling biology to transition from discovery-focused to engineering-focused work, and argues that open
AI in Business
Cursor, an AI code editor that was providing OpenAI models, has been acquired by SpaceX. OpenAI has decided to wind down its contract with Cursor following this acquisition. Source: OpenAI
AI in Business
Neocloud Lambda has secured $1 billion in private debt financing to purchase Nvidia AI chips for leasing to Microsoft. The funding represents continued high capital requirements in the AI infrastructure sector. Source: TechCrunch