AI & RoboticsNews

Adobe reportedly acquires text-to-video AI platform Rephrase

November 23, 2023
As the five-day-long power struggle at OpenAI comes to an end with Sam Altman’s reinstatement, Adobe is moving to up its generative AI game. According to a report in the Economic Times, the content software major has circulated an internal memo announcing the acquisition of California-headquartered text-to-video company Rephrase. While the cost of the deal remains undisclosed, the move is…
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AI & RoboticsNews

Nvidia reports record Q3 results driven by surging demand for AI

November 23, 2023
Nvidia reported record revenue today for its third fiscal quarter of fiscal 2024 (ending October 31, 2023), beating Wall Street’s expectations. The graphics processing unit (GPU) and AI chip company reported record Q3 revenue of $18.2 billion, up 206% year-over-year and 34% sequentially. Nvidia’s data center segment grew 279% annually and 41% sequentially to $14.51 billion, representing 79%…
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AI & RoboticsNews

AI21 nabs $53 million more to challenge OpenAI in enterprise generative AI

November 22, 2023
AI21, a company that competes with OpenAI to serve enterprise companies with generative AI systems, has chosen an opportune time to announce more funding. While competitor OpenAI is reeling from internal chaos and revolt, and may fall apart after the majority of its employees have supported a letter calling upon that company’s board to resign, AI21 has raised $53 million more for its series C…
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AI & RoboticsNews

Emmett Shear, OpenAI’s new CEO, has a long history of questionable tweets

November 21, 2023
Emmett Shear, the recently appointed CEO of OpenAI, is a relatively well-known figure in Silicon Valley. Former CEO and cofounder of the live-streaming platform Twitch, Shear was named as the next CEO of OpenAI after Sam Altman was fired by the board. However, a history of questionable tweets has raised some eyebrows about his new role. Shear has been a prominent figure in the tech industry for…
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