Smartcat, a provider of AI-powered translation tools, has raised $43 million in a Series C funding round. The Boston-based company provides companies with tools and services to translate written and spoken content into around 280 languages. As founder and CEO Ivan Smolnikov told TechCrunch, Smartcat uses a “matching engine” to select appropriate AI models for …
The tech industry is investing heavily in AI infrastructure, but experts doubt its profitability. It is estimated that AI companies would need to generate $600 billion a year to justify the expense. So far, however, only a few giants like OpenAI dominate the market, while many smaller start-ups are struggling. The high cost of AI …
According to a report by The Information, OpenAI is experiencing rapid growth in revenue. Annual revenue is said to have doubled in the last six months to $3.4 billion. Most of the revenue comes from subscriptions to ChatGPT and from fees paid by developers. Microsoft also pays OpenAI a portion of the revenue from the …
French startup Mistral AI raises $640 million in a funding round, valuing the company at nearly $6 billion. Mistral intends to use the fresh capital to expand its resources for developing open source AI models and to keep pace with OpenAI and Anthropic in the global competition.
AI-powered search tool Perplexity closed a new round of funding and is valued at more than $1 billion. With the new capital and a new Enterprise Pro Plan, the company plans to expand globally and offer its secure, AI-powered search service to enterprises.
Poe introduces a new revenue model where AI bot creators on the platform can set a price per message to earn money when users interact with their bots. Source: TechCrunch
Google.org launches a $20 million grant program for nonprofit organizations developing generative AI technologies. The six-month program includes financial support, technical training, workshops, and mentoring to help participants implement their AI projects, which range from translation services for refugees to optimizing social benefit applications.
Google is paying publishers to use a new AI offering. According to Google, it is primarily intended to help journalists at smaller media outlets with their work, AdWeek reports.