Cohere, a generative AI startup co-founded by former Google researchers, has raised $500 million in its latest funding round, valuing the company at $5.5 billion. The round was backed by major players like Cisco, AMD, and Fujitsu, with participation from PSP Investments and EDC. This brings the company's total funding to $970 million, with a previous valuation of $5 billion in June 2023.

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Runway, a startup building generative AI for content creators, was accused of illegally using thousands of YouTube videos, including over a thousand from renowned tech YouTuber Marques Brownlee, to train its AI video generator without obtaining permission. The report revealed a coordinated effort within the company to collect thousands of YouTube videos and pirated content for training data.

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JPMorgan Chase has launched its own AI-powered research analytics tool, called LLM Suite, which is designed to work seamlessly with internal systems managing sensitive financial information. The tool is available to employees in the asset and wealth management division, and is intended to increase general-purpose productivity. The LLM Suite is a ChatGPT-like product, and was announced in an internal memo co-signed by Mary Erdoes, CEO of JPMorgan's asset and wealth management division, Teresa Heitsenrether, Chief Data and Analytics Officer, and Mike Urciuoli, Managing Director.

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