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Jai Das - 2 Das - 2 it's - 2 — - 1 Rob Slaughter - 1 siphoning - 1 Slaughter - 1 Lockheed Martin - 1
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☆ This defense-tech startup bootstrapped its way to nearly $30 million in revenue. Now, it has another $35 million from Sapphire Ventures.
  + stars: | 2024-03-07 | by ( Melia Russell | ) www.businessinsider.com   time to read: +4 min
Now, Defense Unicorns, a startup that creates open-source software for national security systems, has announced it raised $35 million in a round of funding led by Sapphire Ventures and Ansa Capital. The world of open-source software for the military is small, making the opportunity much greater. TestifySec, a tiny startup building open-source software for the Department of Homeland Security, raised a $6 million seed round last fall. This year, Defense Unicorns says it will use the initial round of funding to go on a hiring spree. Defense Unicorns will compete for talent in artificial intelligence with tons of other startups.
Persons: —, Jai Das, Rob Slaughter, Das, siphoning, Slaughter, it's, Lockheed Martin Organizations: Service, Sapphire Ventures, Unicorns, Business, Defense Unicorns, Ansa, Department of Defense, Air Force, Lockheed, Department of Homeland Security Locations: Chicago
☆ REUTERS MOMENTUM Sapphire Ventures plans to invest over $1 billion in enterprise AI startups
  + stars: | 2023-07-11 | by ( Krystal Hu | Thomson Reuters | Krystal Reports On Venture Capital | ) www.reuters.com   time to read: +2 min
July 11 (Reuters) - Sapphire Ventures plans to invest over $1 billion in AI enterprise startups, doubling down on the technology's adoption by companies across the world, its president Jai Das said at the Reuters MOMENTUM conference in Austin on Tuesday. The $1 billion in capital will come from Sapphire's existing funds, which have $10 billion under management and about $3 billion waiting to the deployed. The majority will be a direct investment in AI startups, while some capital will also go to early-stage AI-focused venture funds through its limited partner fund. Over $40 billion has been invested into AI startups in the past six months, accounting for nearly a quarter of overall startup funding, according to PitchBook data. With headquarters in Austin, Texas, Sapphire has invested in AI-powered enterprise startups including Clari and DataRobot.
Persons: Jai Das, it's, Sapphire, Das, Krystal Hu, David Evans, Deepa Babington Organizations: Sapphire Ventures, Thomson Locations: Austin, Austin , Texas
☆ Leaders like Elon Musk want to pause AI development, but the power of the free market means it's impossible to stop
  + stars: | 2023-04-03 | by ( Emilia David | ) www.businessinsider.com   time to read: +5 min
Elon Musk and other business leaders signed a letter urging a six-month pause in AI development. From the moment the public was allowed to start testing OpenAI's GPT-3 in November, there was no stopping the bullet train of generative AI development. And the power of market forces means that there's no stopping the pace of AI development, even if companies like OpenAI wanted to. The train has left the station, and there's no going backSince November, and arguably even before, generative AI has been the technology on everyone's lips. Even if we wanted to pause AI development, there's not a clear way to enforce itThere's also the problem of enforcement.
☆ SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll
  + stars: | 2023-03-11 | by ( Greg Bensinger Anna Tong Krystal Hu Jeffrey Dastin | Greg Bensinger | Anna Tong | ) www.reuters.com   time to read: +6 min
At some Silicon Valley Bank branch locations in California, depositors gathered early Friday to attempt to get their cash out, fearing it could be inaccessible in the coming days. It has had financial relationships with a who’s who of Silicon Valley firms over the years, including Snapchat's parent Snap Inc (SNAP.N). A locked door to a Silicon Valley Bank (SVB) location on Sand Hill Road is seen in Menlo Park, California, U.S. March 10, 2023. A Silicon Valley Bank spokeswoman didn't immediately respond to a request for comment sent Friday. As of Friday, FarmboxRx’s funds were still tied up with Silicon Valley Bank.
☆ Investors and techies gather in San Francisco to bathe in generative A.I. hype sparked by ChatGPT
  + stars: | 2023-02-17 | by ( Jonathan Vanian | ) www.cnbc.com   time to read: +8 min
They were there to discuss the latest craze capturing the attention of the tech world: generative artificial intelligence. The underlying AI software powering ChatGPT, a kind of machine-learning technology known as a "large language model," isn't new. As Bessemer Venture Partners' Sameer Dholakia told audience members, generative AI could change "the lives of billions of people." Blackwell credits OpenAI and ChatGPT with showing people what's possible with generative AI, shining a spotlight on the industry at large. But for one day in San Francisco, generative AI was more than just a tool.
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