🗞 Middle Eastern Funds Boost AI Startup Investments 🏦

🔎 The Latest on the AI Frontier:

• Middle Eastern Funds Boost AI Startup Investments 🏦

• Bukele and Musk Discuss Tech's Role in Global Future 🌐

• Jony Ive Confirms AI Hardware Project with OpenAI 🎨

• OpenAI Academy Launches to Empower Developers Globally 🚀

• iPhone 16 Faces Slow Start Due to Delayed AI Features 📱

• Nvidia's AI Chip Revenue Dominated by Few Key Customers 💻

• Meta's Ray-Ban Smart Glasses Show Promise in AI Wearables 👓

• Google Unveils Global Fund for AI Education and Training 🎓

• Meta Highlights AI and Sustainability Progress in Annual Report 🌱

• Perplexity AI Challenges Google with New Ad Model 🔍

• Other news you might find interesting 👀

💰 Middle Eastern sovereign wealth funds are becoming key backers of AI startups, with investments increasing fivefold in the past year. Link

• MGX, a UAE-based fund, is among investors seeking to participate in OpenAI's latest funding round, which could value the company at $150 billion.

• Abu Dhabi's MGX has joined a partnership with BlackRock, Microsoft, and Global Infrastructure Partners, aiming to raise up to $100 billion for AI infrastructure investments.

• Saudi Arabia's Public Investment Fund, with over $925 billion in assets, is in talks to create a $40 billion partnership with U.S. venture capital firm Andreessen Horowitz.

🤝 El Salvador's Bukele and Tesla's Musk discuss AI, robotics, and humanity's future. Link

• The two leaders met at Tesla's Texas Gigafactory for a wide-ranging conversation focused on emerging technologies.

• Topics included artificial intelligence, robotics, the nature of reality, and how these innovations could shape global progress.

• Musk praised Bukele as an "amazing leader" and said they had an "outstanding discussion" about technology's potential impact.

🤖 Former Apple design chief Jony Ive confirms collaboration with OpenAI on new AI hardware device. Link

• Ive is working with OpenAI CEO Sam Altman on an AI hardware project, potentially raising $1 billion in funding by year-end.

• The project currently has 10 employees, including key former Apple designers, and is operating out of a newly acquired 32,000-square-foot office in San Francisco.

• While specific details are limited, the device aims to leverage generative AI capabilities to create a new type of computing experience, inspired by touchscreen technology and the original iPhone.

🌍 OpenAI Academy launches with $1M in developer credits, empowering devs in low- and middle-income countries. Link

• Focused on fostering innovation in sectors like healthcare and education, OpenAI aims to support local talent by reducing access barriers to AI technology.

• Alongside API credits, the Academy offers incubators, contests, and expert support to help developers create impactful AI solutions.

• OpenAI expands AI accessibility through initiatives like translating key AI benchmarks into 14 languages, reaching non-English-speaking communities.

📱 Apple's iPhone 16 launch faces tepid demand due to delayed AI features rollout. Link

• First-weekend pre-order sales for iPhone 16 series were down about 13% compared to iPhone 15 series last year, according to analyst Ming-Chi Kuo.

• Apple Intelligence, the company's AI features, will not be available at launch but will begin rolling out with iOS 18.1 in October.

• Consumers can access a public beta version of iOS 18.1 with some AI features like text rewriting tools and a new Siri design, while full integration into apps like Mail and Notes will come later.

💰 Nvidia's AI chip dominance revealed as nearly half its revenue comes from just 4 unnamed customers. Link

• Nvidia's Q2 earnings report shows 46% of its $30 billion revenue ($13.8 billion) came from four major customers.

• Top buyers likely include tech giants Alphabet, Amazon, Meta, Microsoft, and Tesla, all heavily invested in generative AI.

• The concentration of revenue highlights the intense demand for Nvidia's AI chips among a small group of industry leaders.

🕶️ Meta's Ray-Ban smart glasses show promise as a leading AI wearable, outperforming competitors in 2024. Link

• The Ray-Ban Meta smart glasses have succeeded where other AI wearables failed, exceeding expectations with stylish design and practical features at a $299 price point.

• AI functionality is integrated as one feature among many, allowing the glasses to remain useful even if AI underperforms, unlike single-purpose devices like the Humane AI Pin.

• Meta's partnership with EssilorLuxottica extending beyond 2030 positions the company well to iterate on hardware and potentially lead in AI wearables, pending improvements to AI capabilities.

🌍 Google launches $120 million Global AI Opportunity Fund for worldwide AI education and training. Link

• The fund aims to make AI education available globally through partnerships with local nonprofits and NGOs.

• Pichai outlined four key opportunities for AI in sustainable development: improving access to information in native languages, accelerating scientific discovery, providing climate disaster alerts, and fueling economic progress.

• He called for "smart product regulation" to mitigate AI risks while avoiding protectionist policies that could widen an "AI divide" between nations.

🌱 Meta releases its 2024 Responsible Business Practices Report, spotlighting strides in AI, sustainability, and human rights. Link

• Released Llama, open-source AI models, downloaded 170M+ times, expanding global access to cutting-edge technology.

• Launched AI Alliance with 50+ partners, driving responsible AI innovation.

• Maintained net zero emissions in global operations, committing to a decarbonization roadmap.

🚀 Jeff Bezos-backed Perplexity AI aims to challenge Google’s dominance with a new ad model. Link

• Perplexity is developing a "sponsored" question system to rival Google’s ad auction model.

• The startup has grown 700% this year and is in talks with brands like Nike and Marriott.

• Its ad system could cost marketers significantly less than Google's, at around $50 CPM.

More news you might find interesting:

• 🎥 Runway’s latest update allows for 1,000-character prompts to create AI-generated videos with greater detail and realism. Link

• 📱 AI-generated recipes pose challenges for food bloggers and raise safety concerns. Link

• 🏌️ LogicMonitor's AI tools boost Topgolf's operations and customer experience. Link🌪️ AI revolutionizes weather forecasting, outperforming traditional models in hurricane prediction. Link

• 🎨 Hugging Face emerges as the go-to platform for experimenting with cutting-edge AI applications. Link

• 🏥 AI tools show promise for boosting efficiency in radiology departments. Link

• 🤝 UAE president seeks US partnership on AI technology in White House meeting. Link

• 🤖 Israel establishes national expert forum to guide AI policy and regulation. Link

• 🛡️ Cloudflare launches free tools to help websites detect and block AI web scraping bots. Link

• 🔄 SoftBank's Masayoshi Son plans comeback after hitting low point. Link

• 👩‍🏫 Musk's X reverses course, begins complying with Brazilian court orders. Link

• 📊 Meta AI chatbot sparks debate with differing responses on Trump and Harris. Link

• ⚖️ Judge criticizes lawyers for authors in Meta AI copyright case, urging quicker progress. Link

• 📱 Fresh leaks reveal potential design changes for the Samsung Galaxy S25 Ultra. Link

• 💻 ByteDance denies rumors of developing in-house AI chips, focusing instead on cost optimization for current business needs. Link

• 🗳️ Half of U.S. states move to regulate AI and deepfakes in elections ahead of the 2024 elections. Link

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