Source: https://techcrunch.com/

Snowflake, a cloud computing company, has released Arctic LLM, an enterprise-grade generative AI model under an Apache 2.0 license. The model is designed for large-scale enterprise use, with no specific details on its capabilities or applications provided.

Source: https://techcrunch.com/

The UK's Competition and Markets Authority (CMA) is investigating a potential anti-competitive partnership between Amazon and Microsoft in the AI sector. The CMA is examining the companies' close ties and hiring practices, which may impact competition in the UK market.

Source: https://techcrunch.com/

Greg Tran, Martin Smith, and Sean Couture, co-founders of Magic Leap, left the company and launched a new AR experience. They joined Magic Leap in 2015 and raised $827 million before struggling to find market fit. The trio exited Magic Leap in 2020.

Source: https://techcrunch.com/

Tines, a Dublin-founded startup, has raised $50 million to expand its workflow automation capabilities. The company, which started in security workflow automation, has seen adoption across other IT areas. The funding will help Tines capitalize on the trend of automation in the enterprise.

Source: https://techcrunch.com/

Hinge, a dating app owned by Match Group, introduces 'Hidden Words' to filter out messages containing specific phrases or words. Users can customize the feature to block unwanted comments, aiming to reduce online harassment.

Source: https://techcrunch.com/

India's central bank ordered Kotak Mahindra Bank to stop onboarding new customers and issuing credit cards due to serious IT system and risk management deficiencies. The bank, one of India's largest private lenders, is also a key partner for fintech startups.

Source: https://techcrunch.com/

Flourish Ventures' Madica program plans to invest in up to 10 African startups by year-end, with a goal of backing 30 ventures by the end of its three-year program. The program has already closed three initial deals, with accelerated investing planned for the coming year.

Source: https://techcrunch.com/

French startup FlexAI raises €28.5 million ($30 million) in seed funding to 'rearchitect compute infrastructure' for AI application development. The Paris-based company is launching with an on-demand cloud service for AI training, having operated in stealth since October 2023.

Source: https://techcrunch.com/

Glance, a Google-backed Indian startup, has launched a pilot program for its lockscreen platform in the US, in partnership with Motorola and Verizon. The platform has already gained traction in India, Southeast Asia, and Japan, and plans a full launch in the US later this year.

Source: https://techcrunch.com/