Coming up this week:

- Musk: xAI’s $18 Billion Valuation
- SenseTime: Chinese GPT Killer
- Microsoft: Leaked Emails
- Claude: New Team Plans

And much more… Learn how these unfolding narratives are shaping The Business of AI.

FEATURED STORY 🔥

Elon Musk's xAI Seeks $6 Billion Funding For AI Expansion

Elon Musk's new venture, xAI, is currently negotiating to raise $6 billion, targeting a valuation of $18 billion. 

Although the funding round isn't finalized, xAI aims to compete directly with OpenAI, another company Musk co-founded. Musk is suing OpenAI for deviating from its original mission of prioritizing humanity's welfare over profit.

xAI, only 10 months old, plans to leverage data from Musk’s various enterprises, such as Tesla and SpaceX, to enhance its AI technology. This could potentially advance Tesla's autonomous driving and integrate AI more deeply into production processes with the Optimus robot.

Despite Musk's history of overpromising, the substantial potential investment could position xAI as a significant player in the AI industry.

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TRENDING STORIES 🔥 

SenseTime Unveils SenseNova 5.0 and New AI Products

At Shanghai's Tech Day, SenseTime launched SenseNova 5.0, enhancing generative AI with improved linguistic, creative, and scientific capabilities. The event also introduced a scalable "Cloud-To-Edge" AI product matrix, designed for diverse applications including finance and healthcare, showcasing advanced multimodal and edge-side technologies.

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Leaked Emails: Microsoft's $1 Billion Bet on OpenAI

In 2019, Microsoft invested $1 billion in OpenAI to catch up with Google's AI advancements. Internal emails reveal concerns about lagging behind in AI technology, prompting the investment to enhance Microsoft's capabilities and integrate AI into its products, securing a competitive edge in the industry.

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Claude Launches New Team Plan and iOS App

Claude introduced a Team plan and a free iOS app. The plan, at $30 per user monthly, offers enhanced usage, administrative tools, and access to advanced AI models. The iOS app syncs with web chats and supports real-time image analysis, enhancing productivity and mobile accessibility for users.

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AI Image Of The Week 📷️ 

The longer you look at this image, the more intricate details you see.

MJ Prompt: A surreal image where everywhere you look there is something different happening, the detail is incredible and the viewer can't believe all the little different sub-sections --ar 3:4

EYE OPENING NEWS 🧠 

Google Tests New English Learning Tool

Google introduces "Speaking practice" in Search Labs for users in select countries. This feature, aimed at enhancing conversational English, involves AI-driven interactive exercises. It builds on previous tools by adding real-time conversational practice, helping learners use specific vocabulary in dialogue scenarios.

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FT and OpenAI Ink Content Deal

OpenAI has secured a licensing agreement with the Financial Times, enabling the use of its journalistic content for AI research and development. The Financial Times will benefit financially from this arrangement, underscoring the synergy between AI technology and quality journalism.

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AI Predicted to Overhaul Call Centers Soon

Tata Consultancy Services CEO, K Krithivasan, forecasts a drastic reduction in call center jobs due to generative AI. He suggests that AI could replace human roles within a year, significantly impacting the industry that employs millions globally. Despite current stability, job cuts are expected as AI adoption increases.

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Sanctuary AI Launches Advanced 'Phoenix' Robots

Sanctuary AI introduced its seventh generation of Phoenix robots, featuring enhanced motion, durability, and faster automation capabilities. These robots now automate tasks 50 times quicker, with significant improvements in visual and tactile abilities, streamlining production and operational efficiency.

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Penn Launches First Ivy League AI Master's Degree

The University of Pennsylvania introduces the first Ivy League Master's in AI, starting in 2025. This online program, led by Chris Callison-Burch, will cover advanced AI topics and ethics, aiming to educate engineers on both technological and societal impacts. Applications open in June 2024.

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FUNDRAISING 🤑 

Nooks Secures $22M for AI Sales Tools

AI startup Nooks raised $22 million to enhance US inside sales productivity. Utilizing AI for tasks like call analysis, the company, now valued at $26 million, supports over 200 businesses with automated sales solutions.

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Sublime Secures $20M to Combat AI Phishing

Sublime, a cybersecurity startup, raised $20 million to enhance its AI defenses against phishing attacks. With total funding over $30 million, the company uses AI to detect email anomalies and protect clients like Spotify and Reddit.

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Blaize Raises $106 Million for Edge AI Tech

Blaize, specializing in AI computing solutions, secured $106 million from investors like Mercedes Benz and Temasek. This funding boosts their total raised to $330 million, enhancing their edge AI technology across various industries.

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CoreWeave Secures $1.1 Billion in Funding

AI cloud company CoreWeave has raised $1.1 billion, boosting its valuation to $19 billion. Founded in 2017, the New Jersey-based firm specializes in GPU-accelerated cloud infrastructure for AI model training, now operating 14 data centers with plans for expansion.

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