Elon Musk’s AI startup xAI is reportedly raising $6 billion to buy 100,000 Nvidia chips for its supercomputer in Memphis, with the bulk of the new cash coming from sovereign funds in the Middle East. Tessl, an AI startup that automates software development, has raised a $100 million Series A. The future of business is AI, with almost two-thirds of organizations now using AI in at least one business function, according to a May report from consulting giant McKinsey.
Key takeaways:
- The USCC has proposed an initiative to fund the development of AI that is as smart or smarter than humans, similar to the Manhattan Project that led to the creation of the atomic bomb.
- Facebook parent Meta is forming a new unit focused on building AI products for businesses, led by Clara Shih, former CEO of Salesforce AI.
- Elon Musk’s AI startup xAI is reportedly raising $6 billion to buy 100,000 Nvidia chips for its supercomputer in Memphis, nearly doubling the company’s valuation to $50 billion.
- Google is rolling out a new “memory” feature for its Gemini AI service, which allows paying users to ask the AI to remember specific interests or preferences.