AI's Still Shooting for the Moon This Week!

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For those that are new around here, this is an extension of my weekly newsletter where I highlight new and innovative AI products that are worth exploring.

Hey hey!

Happy Wednesday!

Here’s your news in newsletter!

Strap in, we have another big issue this week!

In this Issue:

• Your Weekly Industry News Recap

• A #BuildingInPublic Feature For Content Sharing

• Where I am this week

• The Raise Recap

The Headliner: AI Startup WRITER Launches New Model to Compete with OpenAI

Remember Writer, the AI startup we just met as a sponsor last week? (aaand this week too…) They're throwing down the gauntlet in the world of AI! This San Francisco-based company just unveiled a brand new, large language model (LLM) designed to go head-to-head with industry giants like OpenAI. Here's the kicker: Writer claims they achieved this feat with a dramatically lower training cost. While competitors supposedly shell out millions, Writer managed to train their model for a mere $700,000! Their secret weapon? Synthetic data. This innovative approach involves creating realistic, AI-generated data that mimics real-world information without privacy concerns. It's a growing trend in the industry, and Writer's success could pave the way for a more cost-effective future of AI development.

Your Weekly Industry News Recap

Some other notable news and product launches from this week

• Bret Taylor’s AI Agent Startup Nears $4B Valuation
  Former Salesforce CEO Bret Taylor’s AI agent startup is closing in on a deal that could value it at over $4 billion. Big moves in the AI world! 🌍💡

• Walmart Bets on AI Models with New Wallaby LLM
  Walmart is getting into AI with a new language model, Wallaby, to handle various tasks. Retail + AI? Watch out! 🛒🤖

• New Technique Improves RAG Systems’ Document Retrieval
  A new AI technique is making RAG (retrieval-augmented generation) systems better at fetching the right documents. 🚀📚

• Zoovu AI Search and Product Discovery
  Zoovu launched new AI-powered tools to improve search and product discovery. It’s a game-changer for finding the right items! 🛒💻

• Atlassian’s New AI Product Gives Developers Access to Agents
  Atlassian’s new AI product provides developers with agents to streamline their workflow. AI in development just got a whole lot easier. 🛠️🤖

• Adobe Launches AI Video Generator

  Adobe has entered the AI race with a video generator to rival tools from OpenAI and Meta. 🎥🤖

Writer RAG tool: build production-ready RAG apps in minutes

RAG in just a few lines of code? We’ve launched a predefined RAG tool on our developer platform, making it easy to bring your data into a Knowledge Graph and interact with it with AI. With a single API call, writer LLMs will intelligently call the RAG tool to chat with your data.

Integrated into Writer’s full-stack platform, it eliminates the need for complex vendor RAG setups, making it quick to build scalable, highly accurate AI workflows just by passing a graph ID of your data as a parameter to your RAG tool.

Learn more about our production ready RAG tooling here.

#BUILDINGINPUBLIC - Check this project out!

This Week’s Raise Recap📈💰 

• AI Chip Startup Led by Ex-Google Engineers Seeks $75 Million
  This AI chip startup, led by former Google engineers, is looking to raise $75 million in funding. They’re creating AI chips, and their ambitions are as big as their tech! 💰⚡

• Healthcare AI Startup Abridge Reportedly Raising $250M
  Abridge, an AI-focused healthcare startup, is reportedly raising a cool $250 million, giving it a valuation of $2.5 billion. They aim to revolutionize patient-doctor interactions! 🏥💡

• Contract Analysis Startup Document Crunch Raises $21.5M
  Document Crunch, a startup that helps with contract analysis, raised $21.5 million in Series B funding. They’re making contracts easier to digest with AI. 🔍📝

• AI-Focused Robotic Startup Perceptyne Secures $3 Million
  An Indian AI robotics startup, Perceptyne, another AI-focused robotics startup, has also raised $3 million in seed funding. They’re aiming to revolutionize automation with cutting-edge robotics. 🔧🤖

• UnifiedTo Raises $11M CAD Pre-seed Round
  UnifiedTo, an AI software company, raised $11 million CAD in pre-seed funding to improve how AI software companies use real-time data. 📊💻

• Billables AI Timekeeping Solution Raises $3.9 Million Seed
  Billables, an AI timekeeping solution, raised $3.9 million in seed funding. Their AI tracks time so you don’t have to! ⏳💼

Stay well, and see you next week!

-✌🏽 Sam