Magic, a generative AI startup, is in talks to raise over $200 million in a new funding round, valuing the company at $1.5 billion. The startup has raised $140 million from investors since its inception in 2022, including NFDG Ventures and Alphabet's CapitalG. The latest round is expected to triple Magic's valuation from its last round, with investors including Jane Street participating.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Industry Ventures, a pioneer investment firm, has closed a $900 million fund, Industry Ventures Partnership Holdings VII, to invest in early-stage tech companies through direct investments and investments in emerging seed and early-stage venture capital funds. The fund will target non-generative AI startups facing challenges in securing funding amidst rising interest rates. With this addition, Industry Ventures' total assets under management exceed $8 billion, with $2.3 billion allocated to early-stage hybrid funds.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

The Center for Investigative Reporting has filed a lawsuit against OpenAI and Microsoft in federal court, following similar actions from prominent publications. The lawsuit targets OpenAI's alleged exploitative practices. Major record labels, including Sony Music, Universal Music Group, and Warner Records, have also filed lawsuits against generative AI startups.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Fluently, an AI-powered app, was founded by a YCombinator alumnus to help non-native professionals improve their English language skills. The app provides real-time feedback after every Zoom call, leveraging AI to deliver immediate feedback on users' spoken English. Companies spend $10 billion annually on corporate English training, with 84 million non-native employees working in English-speaking environments.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Nokia has agreed to acquire Infinera Corp, a US-based optical networking gear maker, in a $2.3 billion deal to bolster its optical network business and tap into the AI-fueled data center boom. The acquisition aims to capitalize on the surge in artificial intelligence and enable Nokia to expand its sales to major data centers.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

SoftBank Group Corp's Vision Fund 2 is set to invest between $10 million and $20 million in US-based search startup Perplexity AI. The investment will be part of a larger $250 million funding round. The deal is not yet finalized, and terms could still change. Perplexity AI raised $73.6 million in Series B funding in January, valuing the company at $520 million.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

The US government has granted up to $75 million to Entegris, an American supplier in chip manufacturing, to support the establishment of a new plant in Colorado. The funding is part of the CHIPS Act initiative aimed at bolstering domestic production of semiconductor-related products. The legislation, passed in 2022, allocates nearly $53 billion to revitalize US semiconductor manufacturing capabilities.

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/

Source: https://techstartups.com/category/emerging-technology/artificial-intelligence/