AI revolution

Good morning,

Here are the most important things that happened this week in tech…

Top 5 hits

• Amazon’s CEO Andy Jassy says the AI revolution will be powered by AWS. It’s building several AI apps in AWS.

• Intel unveils its latest AI chip called Gaudi 3 to go after Nvidia.

• Adobe is buying videos to train its new AI tool—around $3 a minute.

• Elon Musk’s xAI in talks to raise $3B –$4B in a deal that would value the company at $18B.

• Humane’s $699 AI Pin is now available to the general public and the company has released its feature roadmap.

Other news

• Apple will begin updating its Mac lineup with AI-focused M4 chips in late 2024.

• Sam Bankman-Fried will appeal his 25-year sentence and conviction for fraud.

• Apple plans to open a large office in Miami, Florida.

• Docusign rebrands, pioneering a new category it’s calling “Intelligent Agreement Management.

• Meta confirms its Llama 3 open source LLM is coming in the next month.

• Top design agency Metalab launches Metalab Ventures to invest in product-led startups.

• eBay adds an AI-powered ‘shop the look’ feature to its iOS app.

• Google unveils its new Arm-based CPU called Google Axion to challenge Microsoft and Amazon in the AI race.

• Google unveiled Gemini Code Assist, its enterprise-focused AI code completion tool, to compete with Github Copilot.

• TikTok is working to launch a photo-sharing app to compete with Instagram. It’ll likely be called TikTok Notes.

• Microsoft plans to unveil its Arm-powered AI PCs at an event in Seattle on May 20. It’s confident that these will beat Apple’s M3-powered MacBooks in both CPU performance and AI-accelerated tasks.

• Terraform Labs and its founder Do Kwon were found liable for $40B fraud over the firm’s 2022 collapse.

• Boeing suffered another plane accident. This was during a takeoff in Denver, Colorado.

• Tech stock inflows in Q1 were the third largest on record.

• Uber Eats launches a TikTok-like video feed to boost discovery and help merchants showcase their products more engagingly.

• Spotify brings on Christian Luiga as the company’s new CFO.

• TSMC wins more than $5B in grants for a US chip plant.

• Hypersonic startup Hermeus unveils its first aircraft.

• Elon Musk announces Tesla robotaxis are coming on August 8, 2024.

Deal flow

• Arcadia raises $50M for its global utility data and community solar platform.

• Anrok raises a $30M Series B round for its global sales tax platform.

• Udio raises a $10M seed round from a16z for its AI-powered music creation platform.

• Tabs raises $7M seed round led by Lightspeed Ventures to advance its AI-powered B2B accounts receivable platform.

• Guesty raises $130M in Series F funding to grow its property management platform.

• Collaborate Robotics raises $100M Series B to build robots that can reason like humans.

• Automattic (owner of WordPress) acquires multiservice messaging app Beeper for $125M.

• Ibotta, the cash-back app backed by Walmart, is seeking to raise $473M in its IPO.

• Mental health startup Grow Therapy raises $88M Series C.

• Kryptos Biotechnologies, a biotech using light to generate heat and control temperature, raises $10M Series A.

• Summer, an end-to-end workplace student loan solution, raises $9M.

• Protiv, a performance pay platform for construction, raises $2.4M pre-seed round.

• Varda Space, a startup building an orbital drug factory, raises $90M Series B.

• Archetype AI, a physical AI company, raises a $13M seed round.

• Multiverse, the apprenticeship unicorn, acquires Searchlight to put a focus on AI.

Interesting gems

• People review Humane’s AI Pin and it’s not good.

• Adobe’s Frame.io launches the next version of its product and released a beautiful new site and campaign to tell the story.

• Elon Musk posts a view of the solar eclipse from orbit.

• Hacker News users weigh in on the most useless projects they’ve worked on.

Was this forwarded to you?

That’s it for this week. Let me know what you think!

🌜 Loryn from Dark Mode Digest