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NVIDIA CEO uses this search engine "almost everyday", No! it is not Google

NVIDIA CEO uses this search engine "almost everyday", No! it is not Google

Arindam Majumder
April 29, 2024

Welcome AI Brewers,

You must have seen US stocks rally after strong tech results, all on the back of significant AI investments. Even the disappointing Inflation reading could not pull the investor’s mood down. Well, such is the optimism around AI in the market.

In today’s edition:

Devin, the world’s first fully autonomous AI software engineer pushed Cognition AI become unicorn in six months since its inception.
Augment, competitor of Github Copilot, inch away of becoming the next unicorn.
Perplexity AI, the David who is fighting against the Goliath, the Google in the search engine space now valued at $1B.
Former Google Engineer Founded, Dot, secured $6M from investors like Hash Global and others.
NVIDIA is acquiring Run:ai, speculated to be bought at a whopping $700 Million.
The future is not only electric, but also autonomous says Elon Musk at Tesla’s recent quarterly disclosure.

Highlight of the Week

Six months since its inception, a product that has a waitlist for you to use and a pre-revenue startup, is now an unicorn with a valuation of 2 Billion Dollar.

Cognition AI Raises $175M at $2B Valuation, One Month After Series A

Cognition AI's rapid ascent in valuation is not an isolated case. The company joins a growing list of AI startups attracting massive investments despite generating little to no revenue.

www.maginative.com/article/cognition-ai-raises-175m-at-2b-valuation-one-month-after-series-a

Deal Flow

Former Google CEO Eric Schmidt and VC’s like Lightspeed Ventures backed Augment comes out of stealth mode after raising $252 Million at a post money valuation of $977 Million -

Exclusive: Eric Schmidt-backed Augment, a GitHub Copilot rival, launches out of stealth with $252M

Augment, a startup developing an AI-powered platform similar to GitHub's Copilot, has launched out of stealth valued at nearly $1 billion.

techcrunch.com/2024/04/24/eric-schmidt-backed-augment-a-github-copilot-rival-launches-out-of-stealth-with-252m

Former Google Engineer founded Adot, a decentralised AI search engine company secured $6 Million from Hash Global and other esteemed investors

We are excited to announce that Adot has raised a total of $6 million in funding to build a decentralized AI search engine! 🎉💰
This investment will be used to advance our cutting-edge technology, revolutionizing the search industry by combining AI and decentralization. 🔍🧠🌐… twitter.com/i/web/status/1…
— Dr. Wei @Adot(a.xyz) (@Wei_ADot)
2:51 PM • Apr 25, 2024

For the better utilisation of GPUs and cost optimisation, NVIDIA is acquiring AI workload management startup Run:ai for $700 Million (tentative)

Nvidia’s Acquisition Of Run:ai Emphasizes The Importance Of Kubernetes For Generative AI

Nvidia's move to acquire Run:ai not only strengthens its position in the AI and cloud computing markets but also enhances the Kubernetes ecosystem's capacity to support the next generation of AI applications, benefiting a wide range of industries.

www.forbes.com/sites/janakirammsv/2024/04/26/nvidias-acquisition-of-runai-emphasizes-the-importance-of-kubernetes-for-generative-ai/?sh=18a951a4386c

Startup Spotlight

Today, we have Perplexity AI in the spotlight.

Jeff Bezos backed, competing head on with Google, an AI based search company Perplexity AI now valued at $1B after raising $63 Million from esteemed pool of investors.

Perplexity AI Raises $63M at $1B Valuation, Expands to Enterprise Market

So far, the company has raised $163 million and has over 10 million monthly users.

analyticsindiamag.com/perplexity-ai-raises-63m-at-1b-valuation-expands-to-enterprise-market

Founder’s Corner

The future is not only electric, but also autonomous - Elon Musk

Yes, Tesla is not shifting away from electric vehicles (EVs) to focus solely on artificial intelligence (AI).

Instead, Tesla is integrating more advanced AI technologies into its existing business model to enhance its products and services, particularly around its autonomous driving capabilities and software offerings.

Q1 2024 Shareholder Update → ir.tesla.com
— Highlights
While many are pulling back on their investments in EVs, we are investing in future growth. This includes our AI programs, production capacity, Supercharger & service networks as well as new products… twitter.com/i/web/status/1…
— Tesla (@Tesla)
11:51 PM • Apr 23, 2024

VC Insights

Today, we are hearing from Rudina Seseri, Founder of Glasswing Ventures who has more than two decades of experience in Venture Capital. She has some great insights on AI startups and runs through some important checklist that any investor should go through before qualifying any AI Startups.

Some of the potential areas that she is excited about in AI space are data infrastructure, productivity and process optimisation.

Chart for the Week

Advanced Semiconductor Market Share Forecast

source: visual capitalist

Upcoming Events

DCCWest is a full-day event filled with talks on emerging trends in artificial intelligence and machine learning from industry leaders, technical experts and entrepreneurs.

Join the event to stay ahead in the field of AI.

DCCWest | May 8, 2024 in Portland, Oregon

Join us for the second annual DCCWest Conference on May 8, 2024 in Portland, Oregon! A day filled with talks on emerging trends in artificial intelligence and machine learning from industry leaders, technical experts, and entrepreneurs.

www.dataconnectconf.com/dccwest/conference

Thanks for reading.

See you soon!

Arindam

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