Sequoia Capital is leading a $16 million investment in Dust, a French startup founded by former OpenAI researcher Stanislas Polu. Dust specialises in crafting bespoke AI bots for enterprises, leveraging advanced language models like OpenAI’s GPT and Google’s Gemini.
Its solutions cater to various business needs, such as customer support, sales analytics, and software code management. Instead of creating AI models from the ground up, Dust integrates its software with existing AI platforms such as Slack.
Why does it matter?
The funding round was geared towards facilitating Dust’s expansion into the US market and supporting its global ambitions. Despite facing competition from established entities and fellow startups, Dust maintains agility by using its flexibility to thrive in the competitive landscape of AI automation tools.
Small businesses in the United States increasingly turn to AI to improve their operations, although many encounter significant challenges during implementation. According to research conducted by Morning Consult on behalf of Visa, 52% of small businesses have already integrated AI, and an additional 50% plan to do so within the next two years.
Despite these advancements, 90% of businesses face obstacles in adopting AI, citing difficulties such as understanding how to use AI tools (47%), navigating various options (36%), and concerns regarding compatibility and security (31% and 26%, respectively). The study also identifies marketing as the most promising area for AI adoption among businesses not currently using AI, indicating widespread optimism about AI’s potential to increase efficiency and generate revenue.
Denise Press, Visa’s head of small business for North America, emphasised the dual challenge of acknowledging AI’s importance while grappling with the practicalities of implementation. She recommends that businesses begin with low-risk AI applications, such as automating tasks like drafting press releases, to become familiar with the technology’s advantages.
Why does it matter?
There is a collective encouragement for small businesses to cautiously and optimistically embrace AI, utilising partnerships and expertise from vendors to navigate these transformative technologies effectively. However, the challenges highlighted—such as learning curves, security concerns, and navigating options—underscore the need for tailored support and guidance.
BlackBerry surpassed expectations for Q1 revenue by reporting $144 million, exceeding the estimated $134.1 million by analysts. The Canadian firm credits this achievement to a strong demand for cybersecurity services in response to rising online threats.
Looking ahead to Q2, BlackBerry forecasts revenue between $136 million and $144 million, with its cybersecurity division expected to contribute $82 million to $86 million. Furthermore, BlackBerry’s collaboration with AMD to develop robotic systems for industrial and healthcare applications indicates its diversification beyond cybersecurity.
Why does it matter?
Recent significant data breaches in sectors like automotive and healthcare have intensified the need for enhanced cybersecurity measures, benefiting companies like BlackBerry. Despite a general slowdown in tech spending, these security concerns are prompting organisations and governments to strengthen their defences, thereby boosting BlackBerry’s performance.
The Israel Innovation Authority has announced plans to launch a tender next month to establish a supercomputer dedicated to training domestic large language models (LLMs). Announced at an event at Tel Aviv University, CEO Dror Bin explained this move was to ensure the country remains a global leader in AI technologies.
“When a high tech company or researcher wants to train a large model they have to buy time in the cloud (since), there is no local data centre with significant amount of GPUs (graphic processing units) that can train those models here,” he said.
Israel’s first supercomputer, built by Nvidia, completed its initial construction phase in November 2023, with the final phase slated for completion in 2024. However, it seems this new supercomputer will be more oriented towards industry and academia. “The supercomputer will be available for researchers and companies at lower than market cost,” Bin said.
Bin also presented research where he noted that the government is budgeting approximately $250 million (or 1 billion shekels) on a national AI programme, 60% of which will be used in 2024 alone. He had called for more investments in the sector earlier this month. Intel then announced it was halting the construction of a multi-billion dollar chip factory in the country. However, the same study revealed that Israel ranks third globally in this sector, behind the UK and US. This is corroborated by research done by Accel, where it ranked 3rd by funding and 4th by quantity of GenAI startups, behind Germany.
Due to strong demand from US tech companies, the French cloud services provider OVHcloud exceeded its Q3 revenue expectations. Despite economic challenges affecting cloud spending in Europe, OVHcloud experienced a significant 15.9% surge in its shares, a record increase for the company.
The firm emphasised substantial US private cloud sector growth, particularly in high-performance Bare Metal servers. Competing with industry giants like Amazon Web Services and Oracle, OVHcloud aims for global expansion through competitive pricing and enhanced performance offerings. OVHcloud achieved a 10.1% year-on-year revenue growth, reaching 251 million euros for Q3, exceeding market predictions. That contrasts with the revised 2024 targets set earlier due to weaker demand in key European markets, notably France and Germany.
Why does it matter?
OVHcloud’s Q3 performance underscores its competitive edge in the global cloud services market, particularly against dominant US players like Amazon Web Services and Oracle. The strong revenue growth fuelled by US technology demand highlights OVHcloud’s strategic positioning and potential for international expansion.
Microsoft has stated it will keep providing eligible customers in Hong Kong with access to OpenAI’s AI models, like ChatGPT, via its Azure cloud platform. The decision stands despite OpenAI’s recent move to restrict API access from unsupported areas, including mainland China and Hong Kong.
OpenAI, with Microsoft as its biggest investor, notified developers in unsupported regions that it would begin blocking API access on 9 July. That step aligns with the US government’s efforts to curb China’s access to advanced AI technology due to national security concerns.
Microsoft’s local branch assured there will be no changes to their Azure OpenAI service offerings in Hong Kong. Although OpenAI’s services are not officially available in mainland China and Hong Kong, users in these regions often circumvent restrictions using virtual private networks or proxies.
Why does this matter?
The restriction by OpenAI aligns with broader US efforts to limit China’s access to advanced technology, reflecting ongoing tensions and strategic competition between the US and China. Microsoft’s decision to maintain services in Hong Kong contrasts with OpenAI’s broader restrictions, potentially pushing Chinese developers toward local AI platforms such as Zhipu AI, Baichuan, and those from major tech companies like Alibaba and Baidu. These local alternatives offer incentives to attract users impacted by OpenAI’s new policies.
Japanese tech investor SoftBank Group’s Vision Fund 2 plans to invest between $10 million and $20 million in US search startup Perplexity AI, valuing the company at $3 billion. The investment is part of a larger $250 million funding round, which remains partially disclosed as the deal details are still being negotiated, and SoftBank and Perplexity have not commented.
Perplexity AI provides search tools that deliver instant answers with sources and citations, leveraging various large language models from OpenAI to Meta’s Llama. The San Francisco-based company raised $73.6 million in January from investors, including Nvidia and Amazon founder Jeff Bezos, at a valuation of $520 million.
The startup handled over 500 million queries in 2023 with minimal marketing expenditure.
Bearing AI has unveiled an enhanced Deployment Planner tailored for tramp shipping companies following the success of its liner shipping version. Unlike liners, tramp operators manage one-off contracts between ports, posing challenges for emissions optimisation and profitability.
The latest tool leverages advanced AI to analyse extensive historical and real-time data, offering actionable insights into critical operational issues. It allows chartering, operations, and environmental teams to experiment with vessel deployments, optimising environmental impact and profitability.
Built on robust machine learning models, the Deployment Planner predicts end-of-year performance for every vessel, even those without scheduled contracts. The aforementioned capability provides deep insights into emissions management, enabling tramp operators to achieve superior performance amidst dynamic scheduling.
Kristofer Maanum, Senior Product Leader at Bearing AI, highlighted the tool’s significance for tramp operators, facilitating informed decisions that balance efficiency and sustainability across varied contract scenarios. The Deployment Planner emerges as a crucial asset for managing fleet efficiency, mitigating compliance risks, and optimising operational costs in tramp shipping.
AI is revolutionising the world of advertising, particularly when it comes to humour. Traditionally, humour in advertising was heavily depended on human creativity, relying on puns, sarcasm, and funny voices to engage consumers. However, as AI advances, it is increasingly being used to create comedic content.
Neil Heymann, Global Chief Creative Officer at Accenture Song, discussed the integration of AI in humour at the Cannes Lions International Festival of Creativity. He noted that while humour in advertising carries certain risks, the potential rewards far outweigh them. Despite the challenges of maintaining a unique comedic voice in a globalised market, AI offers new opportunities for creativity and personalisation.
One notable example Heymann highlighted was a recent Uber ad in the UK featuring Robert De Niro. He emphasised that while AI might struggle to replicate the nuanced performance of an actor like De Niro, it can still be a valuable tool for generating humour. For instance, a new tool developed by Google Labs can create jokes by exploring various wordplay and puns, expanding the creative options available to writers.
Heymann believes that AI can also help navigate the complexities of global advertising. By acting as an advanced filtering system, AI can identify potential cultural pitfalls and ensure that humorous content resonates with diverse audiences without losing the thrill of creativity.
Moreover, AI’s impact on advertising extends beyond humour. Toys ‘R’ Us recently pioneered text-to-video AI-generated advertising clips, showcasing AI’s ability to revolutionise content creation across various formats. That innovation highlights the expanding role of AI in shaping the future of advertising, where technological advancements continuously redefine creative possibilities.
South Korea will begin providing financial aid to chipmakers in July, launching a 26 trillion won ($19 billion) support package to bolster the critical semiconductor industry. The initial phase will include an 18 trillion won package, offering preferential loans and investment capital. Next month, eligible companies can access a 17 trillion-won loan program at the lowest market interest rates. Additionally, the government will help establish two funds totalling 1.1 trillion won to invest in local chipmaking equipment and materials by 2025.
The following initiative aligns South Korea with other nations like the US and China, which are investing heavily in the semiconductor sector amid growing geopolitical tensions and fragmented global supply chains. With Samsung Electronics and SK Hynix leading the way, South Korea remains the world’s largest producer of memory chips. The government is also investing $470 billion to develop a semiconductor ‘mega cluster’ near Seoul, which will become the core of its chip industry.
The aid package comes as the US urges its allies to limit China’s access to advanced semiconductor technology. Reports suggest that American officials want South Korea to restrict the export of equipment and technologies needed for high-end chip production to China. The South Korean government plans to extend tax incentives for eligible firms by three years to support the industry further. It is considering expanding these benefits to include chip materials, parts, and equipment manufacturers.
