OpenAI Set to Unveil Advanced AI Model 'Strawberry' This Fall

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TECH BRIEF

Cerebras Systems Launches 'World's Fastest' AI Inference Service, Challenging Nvidia Dominance (10 minutes read)

AI computing startup Cerebras Systems has launched its new " high-speed inference" services, claiming to provide the 'world's fastest' AI inference service. The service, powered by the Cerebras CS-3 system and the firm's WSE-3 processor, is said to be up to 20 times faster than comparable services using Nvidia’s most powerful GPUs. Cerebras believes this introduction could present game-changing opportunities for AI applications, touting superior memory and competitive pricing, with the service starting at just 10 cents per million tokens.

OpenAI Set to Unveil Advanced AI Model 'Strawberry' This Fall (5 minutes read)

OpenAI is preparing to launch a next-gen AI product, "Strawberry," capable of tackling tasks beyond present AI abilities. This includes solving unfamiliar math problems, executing high-level tasks, and performing deep research. Strawberry, due for a fall release, builds on OpenAI's efforts to push AI reasoning capabilities. Notably, the firm introduced an advanced voice feature for ChatGPT using the GPT-4o model and launched a SearchGPT tool promising concise answers and the GPT-4o mini version of ChatGPT in July.

Klarna Achieves Profitability Ahead of Hotly Anticipated IPO (7 minutes read)

"Buy now, pay later" firm Klarna reports a first-half adjusted operating profit of 673 million Swedish kronor ($66.1 million), showing a turnaround from 2020's loss. Revenue grew by 27% YoY to 13.3 billion krona. Klarna credits this growth to AI utilization, which helped reduce costs and increase average revenue per employee by 73% YoY. As it grows, Klarna is diversifying its services while preparing for an anticipated IPO.

China's Startup Venture Funding Plummets to Decade Low (8 minutes read)

Venture funding to Chinese startups is expected to hit a decade low, with total funding dropping to $7.4 billion in the last quarter, a 42% decrease from Q1. Early-stage funding also suffered a significant decline, reaching only $2.5 billion in Q2, a 67% drop from Q1. Asia overall suffered its worst quarter for venture funding since Q4 2015. Large growth rounds failed to sustain the overall numbers as tension between the U.S. and China impacted investments.

Apple Announces Major Leadership Change, First CFO Change in Decade (4 minutes read)

Apple has announced a critical change in its leadership with CFO Luca Maestri stepping down on January 1, 2025. Under Maestri's decade-long tenure, Apple had its strongest fiscal decade as the net income more than doubled with Apple's stock surging ninefold. His designated successor, Kevan Parekh, will assume the CFO's seat while Maestri will continue to lead the Corporate Services teams.

Google Progresses with AI Summaries for Faster Document Access (3 minutes read)

Google is working on an AI tool to generate summaries for documents saved in its Files App. This feature, identified in the code of an upcoming beta, will sort through text files and provide brief descriptions. It is expected to be supported by Gemini Nano and processed on-device rather than in the cloud. The usefulness of this AI-powered option remains to be seen.

Steam Hits 37 Million Concurrent Users, Credits Black Myth: Wukong (2 minutes read)

Steam set a record with over 37 million concurrent users, largely attributed to the launch of Black Myth: Wukong, flagging China's essential role in future growth.

Meta Faces Backlash Over Sudden Shutdown of AR Creator Platform (5 minutes read)

Meta's abrupt decision to shut down its Spark AR platform by January 2025 has left creators unhappily facing unemployment, demanding explanations.

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Gameplay Galaxy Raises $24M to Accelerate Web3 Esports Ecosystem Development - Gameplay Galaxy has raised $24 million to develop Trial Xtreme Freedom and establish a competitive Web3 esports ecosystem. The funding will support player-centric digital ownership models, marking a shift towards a decentralized gaming landscape.

Planera Secures $13.5M Funding for Construction Scheduling Solution Expansion - Construction-tech startup Planera has secured $13.5M funding for its project scheduling platform, intending to modernize the sector with AI integration and expand its software to subcontractors.

Cribl's Valuation Hits $3.5B After Raising $319M in Series E Funding - Data infrastructure startup Cribl secured $319M in Series E funding, increasing its valuation to $3.5B. The firm, aiming for cash-flow positivity by 2025, anticipates enterprises to dominate data volume.

nOps Raises $30M to Bolster AWS User's Cloud Spend Optimization - Cloud optimization firm nOps has secured $30M in Series A funding led by Headlight Partners, pushing its total funding to $40.5M. The company exclusively assists AWS customers in managing more than $1.5B in cloud spend.

nCino's Q2 Earnings Beat Estimates But Low Guidance Drives Stock Dip - nCino's Q2 revenue rose 12.9% to $132.4m, surpassing estimates. However, future guidance fell short of forecasts, seeing stock fall despite improved cash profitability.

Ex-Microsoft Engineers Secure $25M for AI-Powered Legal Tech Startup - Ex-Microsoft engineers garnered $25M for an AI-based legal tech startup to aid lawyers in data analysis."

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