🚀 SoftBank's AI Ambitions

SoftBank raises $1.86 billion overseas to boost AI investments.

Hello, AI Enthusiasts!

As we delve deeper, we’ll explore SoftBank's ambitious future plans - raising approximately $1.86 billion through international bonds.

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TODAY’S AI SECRET:

  • SoftBank raises $1.86 billion overseas to boost AI investments.

  • Meta unveils game-changing AI compiler.

  • Daily trending & featured AIs boost your career and business.

  • Hollywood’s video game actors seek to avoid a strike due to disagreements over AI.

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TODAY’S AI WORLD

  • SoftBank to Invest in Perplexity AI - SoftBank's Vision Fund 2 plans to invest between $10 million and $20 million in U.S. search startup Perplexity AI at a valuation of $3 billion, amidst a larger $250 million funding round.

  • Rain AI Recruits Apple Chip Executive - San Francisco-based Rain AI, backed by OpenAI CEO Sam Altman and Y Combinator, has hired Jean-Didier Allegrucci, a former Apple executive, to spearhead their hardware engineering efforts in developing new AI semiconductors.

  • NBC to Use AI - NBC will utilize AI software to recreate sports commentator Al Michaels' voice for daily recaps of the Summer Olympics on its Peacock streaming platform. This marks a significant milestone in the use of AI by a major media company.

  • AI Startup Clay Raises $46 Million - Clay focused on business sales and marketing, secured $46 million in recent funding, raising its valuation to $500 million. Led by Meritech Capital Partners, the investment included Sequoia Capital and First Round Capital, bringing Clay’s total funding to $66 million.

SOFTBANK

SoftBank raises $1.86 billion overseas to boost AI investments.

Image Credit: Getty

SoftBank has recently raised funds by selling international bonds. This is the first time the Japanese tech giant has issued foreign currency debt since 2021. This move shows their strategy to boost investments in AI.

The Details:

  • Bond Sale Details: SoftBank successfully raised approximately $1.86 billion via dollar and euro bond sales to support its operations and retire existing debts.

  • AI Investment Strategy: The funds are partly allocated to boost SoftBank's investments in AI, with significant recent investments in startups like Tempus AI and Perplexity AI.

  • Future Plans and Commitments: SoftBank is planning a substantial investment in AI-related technologies, specifically in AI chips, with a project named Izanagi aiming to deploy around $100 billion.

Why It Matters:

  • Enhanced AI Capabilities: SoftBank's increased investment in AI could lead to advancements in medical treatments and more competitive alternatives to existing technology platforms like Google search.

  • Financial Strategy Impact: The bond sales not only help manage the company's debt but also secure necessary funding to sustain and expand its aggressive growth strategy in AI.

  • Global Tech Influence: SoftBank's moves could significantly affect global technology markets, particularly in AI, positioning the company as a key player in shaping future tech landscapes.

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META

Meta unveils game-changing AI compiler.

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Meta’s AI research team has introduced the Meta Large Language Model Compiler, an open-source suite designed to revolutionize code optimization for developers.

The Details:

  • Compiler Optimization Transformed: Meta Platforms Inc. introduces a revolutionary suite of AI models called the Meta Large Language Model Compiler, designed to significantly enhance code compilation and optimization.

  • Efficiency in Code Development: The LLM Compiler is particularly adept at optimizing code size and compilation times, demonstrating substantial efficiency improvements in these areas.

  • Applications and Implications: Beyond basic optimizations, the LLM Compiler also excels in reverse engineering and legacy code maintenance, expanding its utility in software development.

Why It Matters:

  • Advancing AI Applications: This development represents a significant advancement in applying AI to software engineering, potentially changing how developers approach code optimization.

  • Enhancement of Software Development: The LLM Compiler could lead to faster and more efficient software development cycles, benefiting a broad range of industries and applications.

  • Impact on Software Engineers: While offering numerous benefits, the introduction of such AI tools also raises questions about the evolving role of human engineers in software design and development.

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AI IN ENTERTAINMENT

Hollywood’s video game actors seek to avoid a strike due to disagreements over AI.

SAG-AFTRA captains Iris Liu (left) and Miki Yamashita (center) stand with SAG-AFTRA chief negotiator Duncan Crabtree-Ireland.

Negotiations between Hollywood's actors union (SAG-AFTRA) and video game companies are ongoing. The main issue is the use of AI in the industry, especially AI that can copy actors' voices and likenesses without their permission.

The Details:

  • AI in Negotiations: The main obstacle in negotiations is the demand for equal protection against AI's potential misuse.

  • Union's Stance: SAG-AFTRA is not entirely against AI but demands safeguards to protect actors from being displaced by AI technologies.

  • Potential Strike: The union may consider striking to ensure fair treatment and protection for its members in the face of AI integration.

Why It Matters:

  • Ethical Implications: The unchecked use of AI poses ethical questions about the authenticity and integrity of performances.

  • Job Security: AI's ability to replicate human characteristics can threaten actors' job security and future opportunities.

  • Industry Standards: The outcome of these negotiations could set precedents for how AI is integrated in creative industries globally.

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