NVIDIA BACKED MISTRAL
Nvidia's web of AI bets: smart strategy or bubble risk?
Nvidia's $3 billion investment in Meta's share sale, announced Tuesday, is the latest addition to a portfolio of stakes, loans and guarantees that has made the chip giant what some analysts describe as the central bank of the artificial intelligence boom. Nvidia also has around $36 billion in cloud backstops and a guarantee of up to $105 billion linked to an OpenAI data center, according to US media.
Europe expands AI computing network with €390 million order from France's Bull
The European Union's supercomputing body EuroHPC selected Bull to build LUMI-AI, the sixth machine ordered under its AI Factories programme. The system is a new supercomputer to be installed alongside the existing LUMI machine at Finland's supercomputing centre. It is expected to come online in the second half of 2027.
Sarvam to raise $75 million from Nvidia, Glade Brook, others as part of ongoing funding round
Sarvam AI has secured $75 million from Nvidia and other investors. This investment is part of a larger $300 million funding round. The company is building India-first large language models for local use cases. Sarvam unveiled its first homegrown foundational models supporting 22 Indian languages. The startup aims to compete with global frontier AI models.
China's Kimi K3 emerges as a low-cost rival to Anthropic's Fable 5
China's Kimi K3 AI model is now challenging premium frontier models with its performance. It joins Meta's Muse Spark and Google's Antigravity in offering startup founders and engineers sufficiently good performance for routine programming tasks at much lower cost than earlier favourites Fable and GPT.
Bajaj Finserv's AI push; Govt's UPI fix
Bajaj Finserv chairman Sanjiv Bajaj says the company will launch a dedicated fund for AI startups. This and more in today's ETtech Top 5.
Michael Burry slams Nvidia’s Q3, warns of giant accounting gaps in stock-based compensation
Michael Burry Nvidia stock-based compensation issue: Renowned investor Michael Burry has sharply criticized Nvidia's accounting, particularly stock-based compensation, following its stellar quarterly results. He contends the AI chip giant's reported costs are significantly understated, potentially halving its earnings when dilution is fully considered. Burry also flagged broader concerns about the AI industry's interconnected financial dealings.
Meta hires Thinking Machines Lab cofounder Andrew Tulloch
Led by former OpenAI CTO Mira Murati, the startup had been approached or offered jobs by Meta in the past as well but the latter had pushed back on some of these claims. Andrew Tulloch previously worked at OpenAI and Facebook’s AI Research Group. WSJ reported that a Thinking Machine Labs spokesperson confirmed Tulloch’s departure to the WSJ, saying he “has decided to pursue a different path for personal reasons.”
ASML becomes Mistral AI's top shareholder after leading latest funding round
ASML is set to become the largest shareholder in French AI startup Mistral AI by investing €1.3 billion in its €1.7 billion fundraising round. This move aims to boost European tech independence, with Mistral valued at €10 billion, competing against US giants like OpenAI and Google.
Apple’s AI Crossroads: Will Mistral or Perplexity Propel Siri and Apple Back to the Innovation Forefront?
As the AI arms race heats up, Apple stands at a major inflection point: acquire disruptive AI startups Mistral or Perplexity to revamp Siri and its ecosystem, or stick to its tradition of in-house innovation. Internal debates are fierce, stakes are high, and the outcome could not only reset Siri’s fate but also redraw alliances across Silicon Valley, Europe, and the global search landscape.
Apple internally discussed buying Mistral, Perplexity: Report
CEO Tim Cook signaled last month that Apple was open to larger AI-related acquisitions to accelerate its roadmap, a shift from its historically conservative M&A posture.
What is Nvidia CEO Jensen Huang's push for 'sovereign AI' that has struck a chord with European leaders?
Nvidia CEO Jensen Huang's push for 'sovereign AI' has struck a chord with European leaders. Sovereign AI, by its nature, is aimed at bolstering a nation's ability to protect and advance its interests through the strategic use of AI. EU leaders have emphasized AI infrastructure for digital sovereignty and Nvidia's AI projects highlight Europe's lack of AI infrastructure.
Nvidia to build first industrial AI cloud in Germany
Nvidia will build its first AI cloud platform for industrial use in Germany, aiding firms like BMW and Mercedes. CEO Jensen Huang announced plans for 20 AI factories, expanded European partnerships, and breakthroughs in AI and quantum computing, signaling Europe’s growing focus on AI infrastructure.
Can Europe really compete in AI with $20 billion gigafactories?
The European Commission plans to invest $20 billion in building four AI gigafactories to compete with the U.S. and China. These facilities will face challenges such as chip shortages, electric power demands, and uncertainty in achieving fruitful outcomes. The initiative is part of Europe's broader InvestAI strategy.
AI giant CoreWeave’s blockbuster IPO filing unveils a shocking detail; one customer drives more than 50% of its $1.9 billion revenue
Nvidia-backed CoreWeave is preparing for its IPO filing with an estimated valuation of $35 billion. The firm relies heavily on two customers for 77% of its revenues. Microsoft accounts for 62% of this. CoreWeave aims to address material weaknesses in its financial systems by 2026. The IPO will be the first major tech IPO of 2025.
Jensen Huang's Valentine's Day bomb: Investors in shock as Nvidia buys and dumps AI stocks in stunning power play
Nvidia CEO Jensen Huang revealed the company's AI portfolio on February 14. Nvidia divested its holdings in SoundHound AI, Serve Robotics, and Nano-X Imaging, which led to declines in their stock prices. Meanwhile, investments in firms such as Applied Digital and WeRide resulted in major stock increases.
Details of 110 billion euros in investment pledges at France's AI summit
The financing, revealed at the Paris AI summit, involves Canadian investment firm Brookfield committing 20 billion euros to AI projects in France, alongside potential funding from the United Arab Emirates that could reach 50 billion euros in the coming years.
AI chip firm Cerebras partners with France's Mistral, claims speed record
Mistral, a maker of open-source AI technology, is aiming to challenge fellow open-source contenders Meta Platforms and China's DeepSeek, which rocked global markets late last month with claims of cutting-edge performance at low cost. All three compete with ChatGPT creator OpenAI.
Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments
Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.
AI startup Cohere seeks $5 billion valuation in latest fundraising
Cohere, an AI startup, aims to raise $500M at a $5B valuation with $22M annual revenue, enterprise AI models, Oracle partnership, cloud plans, and backing from top investors amid AI funding frenzy.
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