Saudi Arabia announces groundbreaking $40Bn AI investment

Today’s Highlights:

📰 News: Saudi Arabia announces groundbreaking $40Bn AI investment + Microsoft creates a new AI division by hiring the entire Inflection AI team

💰 Funding: The Browser Company gets a $550M valuation

⚡️ Top News Stories:

1. Microsoft pays $650M to Inflection AI for software licensing and talent acquisition, and creates Microsoft AI, led by Inflection co-founder Mustafa Suleyman.

• Mustafa Suleyman, co-founder of DeepMind and Inflection, joins Microsoft as EVP and CEO of a new organization called Microsoft AI, focusing on advancing Copilot and consumer AI products.

• Alongside Suleyman,most of Inflection’s 70 employees will also be hired by Microsoft w/ Karén Simonyan, co-founder and Chief Scientist of Inflection, being appointed as Chief Scientist of Microsoft AI.

• The move integrates key teams, including those working on Copilot, Bing, and Edge, under Suleyman's leadership, to streamline AI innovation and product development.

2. Saudi Arabia announces a groundbreaking $40Bn AI investment fund, which includes a potential partnership w/ Andreessen Horowitz.

3. Microsoft unveils Surface Pro 10 and Laptop 6 for Business, integrating AI capabilities with Intel’s latest processors

4. The UN General Assembly adopts a landmark resolution on AI, emphasizing the respect, protection, and promotion of human rights in AI's design, development, deployment, and use.

5. Tennessee enacts the Ensuring Likeness, Voice, and Image Security Act (ELVIS), the first US state bill aimed at protecting musicians from AI, by penalizing unauthorized copying of a performer's voice.

6. OpenAI is preparing to release the next version of its ChatGPT model, GPT-5, in the coming months, as the model continues to undergo training and safety testing.

7. Samsung launches AGI research lab to pioneer next-gen AI chips w/ focus on developing chips for LLMs, particularly for inference tasks, promising more efficient and powerful AI model support.

8. Stability AI introduces Stable Video 3D (SV3D), a groundbreaking model for generating 3D meshes and multi-view videos from single images, improving upon previous models like Stable Zero123.

9. GitHub introduces an AI-powered autofix tool for code vulnerabilities, streamlining security for developers and businesses.

10. Google was fined $270M by French regulators for using news outlets' content without proper disclosure to train its AI chatbot Gemini.

11. Nvidia announced a collaboration with Hippocratic AI to offer generative AI nurses, capable of providing medical advice over video calls for $9 an hour, significantly less than the cost of human nurses.

12. Google Research and Fitbit are collaborating to develop a Personal Health LLM aimed at providing Fitbit users with personalized coaching and actionable insights to help users achieve their fitness and health goals.

13. The White House has announced an agreement with the Department of Commerce to provide Intel with up to $8.5 Bn in funding to support U.S.-based chip manufacturing, as part of the CHIPS and Science Act.

14. OpenAI's GPT Store is struggling with spam and unauthorized content, challenging the platform's moderation efforts.

15. Nvidia's CEO Jensen Huang sees AGI within 5 years, emphasizing the importance of clear definitions and benchmarks for measuring AI's progress.

💰 Top Funding News:

1. The Browser Company, the creator of AI-powered Arc browser, raised $50M in a funding round led by Pace Capital, valuing the company at $550M.

2. Foundry Technologies Inc, which operates a cloud platform optimized to simplify the setup and management of AI models on public cloud environments, raised $80M in funding, led by Lightspeed Venture Partners and Sequoia Capital.

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