Future Techly’s Post

Big news in the AI world! Musk's xAI has just raised $6 billion in Series B funding, with Sequoia Capital Andreessen Horowitz and others leading the investment. This major milestone underscores the rising interest and confidence in AI innovations. Read more about this exciting development here: https://x.ai/blog/series-b #TechNews #AI #Innovation #Funding #StartupNews

Had a great conversation with Jabari Young from Forbes about the $13.8 million AI Squared just raised in Series A funding, led by Ansa Capital and New Enterprise Associates (NEA). It’s exciting to watch AI Squared grow, because helping organizations deploy and streamline their use of AI is something I’ve been working on for a long time. During my time at the National Security Agency, I started thinking on how to accelerate and streamline the way organizations adopt AI. Leading their data science team, I saw first hand that many of the AI/ML solutions developed were never actually able to keep people safer - and that mattered to me, because I had two brothers deployed overseas. I knew then I wanted to fix this problem. I went to Databricks to better understand how to incubate a technology and bring it to market - and worked with Matei Zaharia, Ali Ghodsi, Ion Stoica, Pete Sonsini, Greg Papadopoulos, Luke Cooper and so many others who helped me understand what it is to build a great business. I work now with talented people who bring experience from the data science and technical teams of Microsoft, JPMorgan Chase & Co. Chase and the United States Department of Defense, and I am grateful for the growing number of people invested in AI Squared’s success. As part of today’s investment, Roger W. Ferguson, Jr., former Vice Chairman of the Federal Reserve and board member of Alphabet Inc., has also invested and will join the company’s Board of Directors. Ansa Capital co-founder and General Partner Allan Jean-Baptiste will also join AI Squared's board. I’d like to thank Ansa Capital for leading this funding round and existing investors New Enterprise Associates (NEA), Latimer Ventures and Ridgeline. We’re excited to use this funding to expand our team and mature our platform - because we’re invested in helping businesses truly maximize the value of AI. Read more about the funding round and AI Squared of Forbes here: https://lnkd.in/edTdauaZ

We've nearly hit 80% in a week :) While it's part of a bigger raise, we have such a strong community of Seedrs investors, we're back again opening the opportunity to our awesome community. Feel free to head over to https://lnkd.in/eWDppMJn to take a look at the campaign and join the #GenAI revolution. A few reasons you might want to join the journey... Named by Sifted as top European Generative AI firm £2.5m+ in contracted revenues 95% average annual revenue growth Founder with 1 x successful exit

On May 26th, 2024 xAI the AI startup started by Elon Musk announced its much anticipated Series B round. With the series B of Elon Musk’s xAI funding finally complete, we no longer have a duopoly between just Cloud funded OpenAI and Anthropic. With the addition of xAI, we have a significant third player now in the future of large language models. The massive Series B includes investments from a16z, Sequoia, Valor and means that the internal valuation of xAI that competes directly with OpenAI is now a staggering $18 Billion. That’s very close to what Anthropic was valued at when Amazon struck a deal with them. #ai #artificialintelligence #xAI #funding #openai #anthropic #seriesb https://lnkd.in/ekJ-tEQR

🚀 💥 With Series A funding secured, we’re ready to scale our data science efforts and continue delivering AI solutions that drive real-world transformation. Here’s to innovation and AI-powered business impact. 💥 🚀 #RapidCanvas #ServiceAsASoftware #GenerativeAI #SeriesA #GenAI

GaiaNet Raises $10M to Develop a Decentralized Network for Open Source LLM and AI Agents, Posing a Challenge to Centralized AI Titans GaiaNet.AI, a cutting-edge AI infrastructure initiative aiming to decentralize existing AI agent software, has successfully raised a $10 million Series Seed Round. Notable strategic advisors in this endeavor include Generative Ventures’s Lex Sokolin, Republic Capital’s Brian Johnson, 7RIDGE’s Shawn Ng, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab. This funding marks a significant milestone for GaiaNet, propelling its mission to revolutionize the AI landscape. https://is.gd/jVFwEU #AI #artificialintelligence #GaiaNet #Investment #llm #machinelearning #Software

Exciting update!! We've just closed our Series A at Rapidcanvas.ai. This milestone isn't just about us - it's about revolutionizing how businesses leverage AI. Curious how we could activate GenAI on your company's data or build AI agents to diminish your teams' busywork? Let's chat! 

Day 3 on the job and already there's exciting news: RapidCanvas has just successfully completed their Series A. This funding accelerates our mission to the world: The democratization of AI. Our incredible platform automates up to 75% of complex tasks traditionally performed by data scientists and engineers. In other words, 𝐢𝐟 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐬𝐢𝐭𝐭𝐢𝐧𝐠 𝐨𝐧 𝐮𝐧𝐦𝐢𝐧𝐞𝐝 𝐝𝐚𝐭𝐚, 𝐋𝐄𝐓'𝐒 𝐓𝐀𝐋𝐊! It's OK if it's messy; let us take a look and supercharge it. You have the data; we can mine it for insights that can gamechange your business. #rapidcanvas #AI #businesstransformation

An absurd round and valuation but these days it is supposedly no big deal. That does not make it true as the disparity between such funding rounds and REAL scale of such KEY attributes of ChatGPT and all the others is still way below what can be done today with much fewer (orders of magnitude) resources. DISCLAIMER: I founded Qaagi.com and Yottanswers.com but let us talk FACTS - Yottaanswers.com has 27 BILLION (!) direct answer vectors, which is an order of magnitude more than ChatGPT! Note that around 3B or so estimate for the scale of innate knowledge of ChatGPT is an upper bound meaning that is so only if they picked up ALL of the knowledge in their training set which is actually not the case. Qaagi.com has over 2 billion causal edges for causes and effects of everything which are CRUCIAL for reasoning - something ChatGPT and the others do not understand at all. All of those causal edge are ranked based on a eigenvalue algorithm - again something LLMs have no clue - just ask them! We have seen this movie many times before - mountains of mindlessly deployed hardware are not what progress was ever about ...

VC Partners Arun (Accel), Astasia (Felicis), Sebastian (Lightspeed), Jordan (Redpoint Ventures) and I met last week at the NYSE Tech Summit to discuss investing dynamics in a time when technological innovation driven by AI is moving at warp speed: Risk/reward profile of AI companies is hard to calibrate right now. On one hand, the opportunity can be massive, but on the other hand, we’re early in the adoption journey, and valuations are high. Investors are looking beyond subscription software. AI companies often have consumption/usage pricing and AI is also transforming what it means to be a “services business.” AI-based services businesses can have high gross margins, strong tech moats and limited humans-in-the-loop. Despite all the headlines around AI, what investors are looking for at the core remains the same: solving a key pain point, customer love, big market, etc. But it’s now more difficult than ever to get to the bottom of these core issues due to all the AI hype. Thank you to Chuck Adkins and the NYSE team for putting on a great event and Julie Ruvolo for being a wonderful moderator!