⚡︎🔋Microsoft has unveiled its groundbreaking Phi-3

And more : Stock futures fall as Meta Platforms shares sell off after earnings

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Get Supercharged With AI
April 29, 2024

Good morning, aspiring leaders of the next-gen! ☀️

🙏🏼 Here’s what’s going on today…

In today’s tech and finance update, Nova AI, a code-testing startup, opts to use open source LLMs more extensively than OpenAI, prioritizing flexibility and cost-effectiveness in its operations. Augment, backed by Eric Schmidt and seen as a GitHub Copilot competitor, has launched out of stealth with a hefty $252 million funding, marking its aggressive entry into the code automation market.

Elon Musk’s AI venture, xAI, is nearing a massive $6 billion in funding, with his social network X already among its investors, signaling strong market confidence and ambitious growth plans. Microsoft has unveiled Phi-3, a smaller language model that promises significant potential, suggesting a strategic shift towards more efficient AI technologies.

In financial news, stock futures dipped as shares of Meta Platforms fell sharply after its earnings report, indicating investor wariness. Additionally, Pantera Capital is reportedly raising $1 billion for a new crypto fund, reflecting ongoing interest in cryptocurrency investments despite market fluctuations. Today's news spans major developments in AI and notable financial movements, highlighting dynamic shifts and strategic expansions in the tech sector.

🤖 #1 Insights this week on AI. Click the links to read

Why code-testing startup Nova AI uses open source LLMs more than OpenAI

Enterprises still don't trust OpenAI, while open source AI models are cheaper and more than sufficient for targeted specific tasks, Nova AI founder says. Enterprises still don't trust OpenAI, while open source AI models are cheaper and more than sufficient for targeted specific tasks, Nova AI founder says.

techcrunch.com/2024/04/24/why-code-testing-startup-nova-ai-uses-open-source-llms-more-than-openai

Exclusive: Eric Schmidt-backed Augment, a GitHub Copilot rival, launches out of stealth with $252M

Augment, a startup developing an AI-powered platform similar to GitHub's Copilot, has launched out of stealth valued at nearly $1 billion.

techcrunch.com/2024/04/24/eric-schmidt-backed-augment-a-github-copilot-rival-launches-out-of-stealth-with-252m

xAI, Elon Musk’s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders

xAI, Elon Musk’s 10-month-old competitor to the AI phenom OpenAI, is raising $6 billion on a pre-money valuation of $18 billion, according to one trusted

techcrunch.com/2024/04/25/xai-elon-musks-openai-rival-is-closing-on-6b-in-funding-and-x-his-social-network-is-already-one-of-its-shareholders

Microsoft's Phi-3: The Game-Changing Small Language Model with Big Potential

Microsoft's Phi-3 small language models (SLMs) are revolutionizing AI with their compact size and impressive performance, rivaling larger models like GPT-3.5.

www.linkedin.com/pulse/microsofts-phi-3-game-changing-small-language-model-big-mena-botrous-k2gzc

Stock futures fall as Meta Platforms shares sell off after earnings: Live updates

U.S. stock futures fell Thursday after tech juggernaut Meta Platforms reported quarterly results that disappointed investors.

www.cnbc.com/amp/2024/04/24/stock-market-today-live-updates.html

Pantera Capital seeks $1B for a new crypto fund: Report

Pantera Capital, a $5.2 billion crypto investment manager, is reportedly looking to raise $1 billion for its Pantera Fund V, expected to launch in April next year.

cointelegraph.com/news/pantera-capital-seeks-one-billion-raise-for-new-crypto-fund

Here's how AI is making waves in the environmental sector: It's analyzing massive amounts of data to track and predict changes in ecosystems, optimizing energy usage to reduce carbon footprints, and identifying solutions for sustainable resource management to protect our planet for generations to come.

The recent launch of the UN-led AI Advisory Body marks a significant step in using machine learning to address global challenges and achieve the Sustainable Development Goals (SDGs) aimed at creating a more sustainable, fair, and clean planet by 2030.

Artificial Intelligence (AI) enhances the processing and predictive capabilities necessary for tackling climate change across various sectors. For instance, the World Meteorological Organization (WMO) uses AI to improve climate modeling and forecasting, aiding in the development of effective adaptation and mitigation strategies. AI-driven projects also support vulnerable communities in regions like Burundi, Chad, and Sudan by providing environmental data for better planning and response to climate impacts.

Furthermore, AI contributes to disaster risk reduction by enhancing prediction and response strategies for extreme weather events. It also plays a critical role in urban management by monitoring pollution and improving public health responses. It is pivotal in advancing carbon neutrality by optimizing energy usage and increasing the efficiency of renewable energy sources.

In industries like fashion and agriculture, known for significant emissions, AI optimizes supply chains, enhances sustainable practices, and improves efficiency. Overall, AI is essential in fostering resilience and sustainability, helping various sectors adapt to and mitigate the challenges of climate change.

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I hope you find these resources helpful. Let me know if you have any questions, if there's anything else I can do to assist you, or what you would like to learn more about in AI.

Have an amazing day!

No more playing catch-up. It's time to GET AHEAD!!! 🚀🚀🚀

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Elena

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