If you like this newsletter, refer friends and family to win some 💰 prizes.💰 Two Months and $1.3B later and 🧠 Tech talent is in high demand, become one.Plus, 🧰 tools, Ai not so ai, resources, and trends.
Hey Team! 👋 More money, less problems. But definitely, is problematic to see more “Ai” companies without valuable apps looking to capitalize on the hype. Tech talent is in high demand and companies are willing to pay for it. We also have tools, courses, and the latest trends and news. Vamos…
💰 Two Months after launching Pi, Inflection gets $1.3B (link)Inflection AI, a startup backed by Microsoft, Nvidia, Reid Hoffman, Bill Gates, and Eric Schmidt, has raised $1.3 billion in new funding, just two months after launching its chatbot Pi.
The investment round values Inflection at $4 billion. The company claims to have the world's best AI hardware setup and plans to use the funding to expand its computing capabilities and further develop Pi. Inflection has deepened its ties with Microsoft and Nvidia, with Microsoft serving as its cloud computing partner and Nvidia assisting in the deployment of its flagship H100 GPU cluster. The startup aims to create the largest GPU cluster for AI applications in the world. Inflection's CEO, Mustafa Suleyman, stated that the company remains independent and has the liberty to pursue partnerships and commercial opportunities. I have personally tested Pi and found its user interface to be intuitive and the answers it provides to be impressive. It is my go-to app for simple queries and tasks, even before using Google or ChatGPT. However, for more complex tasks, ChatGPT still outperforms Pi. Nonetheless, this is just the beginning of Pi's potential in the personal assistant game. 🧰 AI Tools of the Day
🧠 The Battle for Tech Talent: The Race to Secure Top AI MindsEight AI Startups Winning the Race for Tech TalentGenerative AI has become a game-changer, and companies are fiercely competing to attract top talent in this field. OpenAI's ChatGPT, which allows natural language interactions with AI, has transformed the way humans interact with machines. However, building advanced language models and AI infrastructure requires specialized technical skills and expertise. Lightspeed, an investment firm, has conducted research to identify the AI companies that are leading in hiring top technical talent. They have categorized these companies into two groups: "The Generative Eight" and "The Next Gen."
"The Generative Eight," consisting of companies like TOME, CHARACTER.AI, ANTHROPIC, OPENAI, HUGGING FACE, JASPER, STABILITY AI, and MIDJOURNEY, have established themselves as leaders in hiring top-tier engineers and AI experts. These companies have secured funding and achieved some level of product-market fit. They are poised to shape the future of AI technology and become household names.
On the other hand, "The Next Gen" comprises companies such as PICTOR LABS, ENDPOINT HEALTH, OTTER.AI, BRIA, WELLSAID LABS, SUBTLE MEDICAL, COPY.AI, LEXION, YOU, OCTOML, and RUNWAY. These companies focus on applying AI to specific sectors or use cases and aim to deliver practical and tangible AI solutions. Seattle has emerged as a hub for AI talent, attracting skilled professionals from renowned tech companies and leading research institutions. The University of Washington, known for its Paul G. Allen School of Computer Science & Engineering, plays a significant role in nurturing AI talent. Overall, the demand for AI talent continues to rise, driven by the rapid advancements in generative AI and the potential it holds across various industries. The competition to hire the best talent remains fierce, and companies are striving to position themselves at the forefront of this technological revolution. 📚 The Learning Corner
⚠️ Beware as every company is, all of a sudden, an AI company.In 2017 the Long Island Iced Tea Corp. corporation rebranded as Long Blockchain Corp. as part of a corporate shift towards "exploration of and investment in opportunities that leverage the benefits of blockchain technology" and reported they were exploring blockchain-related acquisitions. Immediately after, its stock jumped 200%. As Ai continues to grow, there will be many more investors searching for the next unicorn to invest in and capitalize on the hype. We will see many cases similar to the Long Island Iced Tea Corp. where companies will add “Ai” to their name in order to capitalize on the hype. There are plenty of companies deploying immature and unfinished AI models in order to take advantage of investors hungry for action. We must be aware of and research the AI companies that are coming out to make sure we are not dealing with rushed startups looking for a payout. There will be great applications, great ai models, and many others that will do just anything just for a payday.
In the world of startup valuations, there is a clear divide between generative AI companies and all other startups. Pre-money valuations for early-stage rounds of generative AI companies have increased by 16% in 2023, while prices for other startups have dropped by nearly 24%. Some generative AI startups with no revenue can raise Series A rounds at valuations of around $250 million or even higher. However, non-AI companies face a different valuation environment, with lower multiples of annual recurring revenue (ARR). The pool of companies qualifying for Series A funding has been shrinking, as revenue growth becomes more challenging, and many companies are not considered ready for a Series A round. Overall, investors are evaluating generative AI companies based on their potential, while other startups are assessed based on their revenue performance. ❓Prompt of the Day
Improve upon this: [article/writings] I usually write my own articles and use this prompt followed by pasting the article to get a grammatically improved and worded article. Use this prompt for your writing, but make sure you read the output thoroughly prior to using it. 💪🏽 Important AI News and Trends
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Perks 👊
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Friday, June 30, 2023
💰 Two Months and $1.3B later and 🧠 Tech talent is in high demand, become one.
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