Latest news with #startup
Bloomberg
38 minutes ago
- Business
- Bloomberg
OpenAI-Challenger Manus Preps Big Upgrade to Main Agent Platform
Chinese-founded startup Manus is rolling out a feature that allows broad research by assigning tasks to scores of AI agents working in tandem, in potentially the biggest update since launching its signature artificial intelligence platform in March. The function, called Wide Research, will enable Manus to process large numbers of data entries simultaneously by roping in multiple AI agents, according to people familiar with its tech development. The tool will become available as soon as this week, the people said, starting with a top-tier subscription priced at $199 a month.
Bloomberg
6 hours ago
- Business
- Bloomberg
FuriosaAI Raises $125 Million in Bid to Become Nvidia Challenger
FuriosaAI Inc., the Seoul-based semiconductor startup seeking to challenge Nvidia Corp., secured $125 million in a financing round to accelerate production of its artificial intelligence chip. The round exceeded its target of about $80 million and drew investors including the Korea Development Bank, Industrial Bank of Korea, Keistone Partners and Kakao Investment, the company said in a statement. FuriosaAI's latest valuation stands at $735 million.
Bloomberg
6 hours ago
- Business
- Bloomberg
How an ‘Entrepreneur of the Year' Brought the First Big Bust to AI Boom
Sachin Dev Duggal helped reach a $1.5 billion valuation. Then its board ousted him amid allegations of inflated revenue and the startup filed for bankruptcy. When the world's elite gathered in Davos, Switzerland, in January 2024, Sachin Dev Duggal reveled in his role as the founder of a bona fide artificial intelligence unicorn. His startup, sponsored glitzy events with celebrities and magazine editors. The BBC featured him on air as an expert in the buzzy technology. 'Chief Wizard,' as Duggal called himself, told another interviewer at Davos that generative AI is 'the cape that you make people superheroes with.' Whatever magic Duggal once conjured is now gone. A year after his Davos appearance, he was pushed out as chief executive as investors began to suspect him of inflating revenue and mismanaging funds. The startup's board later restated sales and a major lender seized virtually all of its cash, forcing the company into bankruptcy in June.
Wall Street Journal
6 hours ago
- Business
- Wall Street Journal
India Is Losing Its Best and Brightest
Could Aravind Srinivas have achieved his full potential by remaining in India instead of moving to Silicon Valley? The co-founder and CEO of the AI-powered search engine Perplexity, which Mr. Srinivas, 31, describes as 'a marriage of Wikipedia and ChatGPT,' is the latest tech superstar to be feted by the Indian media. Following a new round of funding this month, Perplexity is valued at $18 billion. Early investors in the startup include Jeff Bezos, former YouTube CEO Susan Wojcicki, and entrepreneur Balaji Srinivasan. Mr. Srinivas sees search engine behemoth Google as ripe for disruption.
Bloomberg
8 hours ago
- Business
- Bloomberg
Scale Rival Surge AI in Talks for Funding at $25 Billion Value
Surge AI, a leading data-labeling startup, is in talks to raise about $1 billion in its first round of funding at a valuation of at least $25 billion, according to a person familiar with the matter. The valuation, which has not previously been reported, would make Surge one of the most highly valued startups in the US. It would also put Surge in striking distance of rival Scale AI, which received a $14.3 billion investment from Meta Platforms Inc. in June valuing it at more than $29 billion, including the money raised.
