Tag: AI

  • Reid Hoffman’s Manas AI Secures .6M: A Different Path in AI Drug Discovery Financing

    Reid Hoffman’s Manas AI Secures $24.6M: A Different Path in AI Drug Discovery Financing

    Reid Hoffman, the co-founder of LinkedIn, and Siddhartha Mukherjee, a prominent cancer researcher and the author of “The Emperor of All Maladies,” have launched an innovative startup focused on AI-driven drug discovery known as Manas AI. The initial emphasis of the company will be on breast cancer, prostate cancer, and lymphoma. So far, Manas AI has secured $24.6 million in seed funding from Hoffman, General Catalyst, and Greylock.

    In comparison to other firms in the AI-driven drug development arena, Manas AI’s funding appears modest. For instance, last year, Xaira, a company claiming readiness to commence drug development, launched with a significant $1 billion in initial funding. Similarly, Treeline Biosciences, another firm leveraging AI for drug discovery, raised $422 million the previous year, as reported by Endpts.

    Manas AI states that it will harness AI to design molecules, which will subsequently be tested in laboratory settings. During a presentation of his new book “Superagency,” it was noted that Hoffman highlighted this approach. Additionally, Manas AI indicates it will utilise Microsoft’s cloud platform, Microsoft Azure, along with the company’s extensive expertise in AI, to aid in the development of new medicines.

    Hoffman maintains strong connections with Microsoft, particularly since the tech giant acquired his former company, LinkedIn, in a landmark deal in 2016.

  • DeepSeek Puts Signups on Hold Following Cybersecurity Breach

    DeepSeek Puts Signups on Hold Following Cybersecurity Breach

    DeepSeek, a Chinese AI startup that gained significant attention last week with the launch of its open-source R1 model, has halted new user registrations.

    According to CNBC, the company has temporarily suspended new account sign-ups this morning due to a cyberattack. However, existing users can still access their accounts without any issues.

    StartupSuperb has contacted DeepSeek for a statement and will provide updates if a response is received.

    This situation arises just days after DeepSeek became a hot topic in the AI sector, spurred by excitement surrounding its R1 model. The company asserts that its reasoning model surpasses OpenAI’s o1 across various benchmarks. Additionally, today marks the launch of a new family of image models.

    DeepSeek’s application achieved 2.6 million downloads by Sunday, as reported by Appfigures, with 1 million of those downloads occurring just last Friday.

  • “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with  Billion Funding”

    “Retro Biosciences: Sam Altman’s Ambitious Journey to Unlocking Human Longevity with $1 Billion Funding”

    Sam Altman, the CEO of OpenAI, is increasing his investment in Retro Biosciences, a San Francisco-based biotech startup aiming to extend the human lifespan by an additional 10 years beyond what is considered a healthy duration.

    Previously, Altman contributed the full seed funding of $180 million for Retro Biosciences. The startup is now seeking to raise a Series A round of $1 billion, with Altman set to participate, as reported by the Financial Times.

    Retro Biosciences aims to initiate trials for medications targeting diseases such as Alzheimer’s. Recently, the company has collaborated with OpenAI to develop a model that transforms ordinary cells into stem cells.

    Joe Betts-LaCroix, the CEO, expressed an ambition to accelerate the process of discovering and developing a drug “in the 2020s.”

    This venture adds to the growing list of billionaire-funded longevity projects, which include Altos Labs, established with $3 billion in 2022 under the backing of Jeff Bezos, and Unity Biotechnology, which has the support of both Bezos and Peter Thiel.

  • Mistral AI Sets Its Sights on an Exciting IPO Adventure

    Mistral AI Sets Its Sights on an Exciting IPO Adventure

    The French artificial intelligence laboratory, Mistral, is pursuing an initial public offering, as co-founder and CEO Arthur Mensch communicated during an interview with Bloomberg at the World Economic Forum in Davos.

    Mistral is described as “not for sale,” with Mensch stating that the organisation intends to establish an office in Singapore to target the Asia-Pacific market while expanding in Europe and the United States. “Of course, an IPO is the plan,” he stated.

    Founded in 2023 by Mensch along with former researchers from Google’s DeepMind and Meta, Mistral is often viewed as Europe’s counterpart to American leaders such as OpenAI. The laboratory develops AI models and services that rival those of OpenAI and other competitors, including a platform resembling ChatGPT, named Le Chat.

    To date, Mistral has successfully secured approximately $1.14 billion in funding from prominent investors such as Andreessen Horowitz, General Catalyst, and Lightspeed Venture Partners. The organisation was reportedly last evaluated at roughly $6 billion.

  • Meta Initiates 5% Workforce Reduction as Part of AI-Focused Overhaul

    Meta Initiates 5% Workforce Reduction as Part of AI-Focused Overhaul

    Tech giant Meta, the parent company of Facebook, Instagram, and WhatsApp, has announced plans to reduce its workforce by 5%, targeting employees classified as low performers, as stated in an internal memo initially reported by Bloomberg. CEO Mark Zuckerberg confirmed this strategy, which is expected to impact approximately 3,600 employees. He described the initiative as a way to “elevate performance standards and expedite the removal of underperformers.”

    Meta typically manages employees not meeting expectations over the course of a year. However, in the latest memo, Zuckerberg indicated that the company will now implement more comprehensive performance-related cuts during this cycle. Additionally, Meta plans to fill roles vacated by departing employees—who, according to Zuckerberg, will receive a “generous” severance package—with new hires later in the year.

    As per a report by AFP, employees in the United States will be notified about their employment status by February 10, while international staff will receive updates at a later date. Zuckerberg shared that some underperforming employees may be retained if there is optimism regarding their potential contributions in the future.

    In a recent episode of The Joe Rogan Experience podcast, Zuckerberg revealed that Meta, along with other leading technology firms, is developing AI systems to handle complex coding tasks currently managed by human engineers. He disclosed plans to replace mid-level software engineers with artificial intelligence by 2025.

    Meta is not the only company undergoing restructuring due to advancements in AI technology. Industry leaders such as Microsoft and Salesforce have also announced job cuts as part of a broader trend in the tech sector.

    Salesforce CEO Marc Benioff, speaking in a 20VC podcast with Harry Stebbing, indicated that the company’s business plan for 2025 includes a significant reduction in the hiring of software engineers. He noted that Agentforce, Salesforce’s proprietary AI platform, is anticipated to achieve more than 30% adoption across engineering teams.

    Benioff stated, “Our engineering productivity has risen by 30%, which indicates we presently do not require additional software engineers. AI has fundamentally transformed our work processes.” While Salesforce plans to decrease its support engineering roles, he mentioned the company’s intention to expand its sales workforce by 1,000 to 2,000 employees.

    Following the introduction of Agentforce, Benioff highlighted that Salesforce successfully closed 200 deals in just five days during the quarter ending in October. The company now aims to complete thousands of Agentforce deals within the upcoming quarter.

  • MiniMax Unveils New AI Models to Rival Top Contenders in the Industry

    MiniMax Unveils New AI Models to Rival Top Contenders in the Industry

    Chinese companies persist in launching AI models that compete with the capabilities of systems developed by OpenAI and various U.S.-based AI enterprises.

    This week, MiniMax, a startup backed by Alibaba and Tencent, which has secured approximately $850 million in venture capital and holds a valuation exceeding $2.5 billion, unveiled three innovative models: MiniMax-Text-01, MiniMax-VL-01, and T2A-01-HD. MiniMax-Text-01 is a model focused solely on text, while MiniMax-VL-01 is capable of understanding both images and text. Meanwhile, T2A-01-HD generates audio, specifically speech.

    MiniMax asserts that MiniMax-Text-01, which comprises 456 billion parameters, outperforms models such as Google’s recently introduced Gemini 2.0 Flash on evaluation metrics like MATH and SimpleQA. These benchmarks gauge a model’s proficiency in addressing mathematical inquiries and factual questions. Parameters are indicative of a model’s problem-solving abilities, with models having a greater number of parameters typically exhibiting superior performance compared to their fewer-parameter counterparts.

    With respect to MiniMax-VL-01, MiniMax claims it competes with Anthropic’s Claude 3.5 Sonnet in assessments requiring multimodal comprehension, such as ChartQA. This tests models on their ability to respond to graph and diagram-related inquiries (for instance, “What is the peak value of the orange line in this graph?”). Although MiniMax-VL-01 does not consistently outperform Gemini 2.0 Flash in many assessments, it does face competition from OpenAI’s GPT-4o and Meta’s Llama 3.1, which surpass it in several instances.

    Notably, MiniMax-Text-01 features an exceptionally large context window. A model’s context window refers to the input (such as text) that the model considers prior to generating output. With a context window accommodating 4 million tokens, MiniMax-Text-01 can evaluate approximately 3 million words at once — equivalent to just over five versions of “War and Peace.”

    For clarification, MiniMax-Text-01’s context window is around 31 times greater than that of GPT-4o and Llama 3.1.

    The final model introduced this week by MiniMax, T2A-01-HD, is an audio generator tailored for speech synthesis. T2A-01-HD can create a synthetic voice with adjustable pace, tone, and quality in about 17 different languages, including English and Chinese, and can replicate a voice from merely 10 seconds of audio input.

    MiniMax has not published benchmark comparisons of T2A-01-HD with other audio generation models. However, the reporter notes that the outputs from T2A-01-HD sound comparable to those produced by audio models from Meta and firms such as PlayAI.

    With the exception of T2A-01-HD, which is exclusively available via MiniMax’s API and Hailuo AI platform, MiniMax’s new models can be accessed for download on GitHub and the AI development platform Hugging Face.

    Despite being described as “openly” accessible, certain features remain restricted. MiniMax-Text-01 and MiniMax-VL-01 are not genuinely open source, as MiniMax has not disclosed the necessary components (such as training data) to allow developers to recreate them from the ground up. Additionally, they are governed by MiniMax’s restrictive licensing, which prevents developers from utilising the models to enhance competitive AI systems, and imposes a requirement for platforms boasting more than 100 million monthly active users to procure a special licence from MiniMax.

    Founded in 2021 by former staff of SenseTime, one of China’s leading AI companies, MiniMax’s portfolio includes applications like Talkie. This is an AI-driven role-playing platform akin to Character AI and text-to-video models that MiniMax has made available through Hailuo.

    Certain offerings from MiniMax have sparked minor controversies.

    Talkie was removed from Apple’s App Store in December for unspecified “technical” issues and features AI avatars representing public figures such as Donald Trump, Taylor Swift, Elon Musk, and LeBron James, none of whom appear to have provided consent for their inclusion in the application.

    In December, Broadcast magazine reported that MiniMax’s video generators could replicate the logos of British television channels, implying that MiniMax’s models were trained on content from those outlets. Furthermore, MiniMax is reportedly facing legal action from iQIYI, a Chinese streaming service alleging that MiniMax unlawfully used iQIYI’s copyrighted materials during its training processes.

    The introduction of MiniMax’s latest models comes just days after the outgoing Biden Administration suggested stricter export regulations and limitations on AI technologies pertaining to Chinese enterprises. Chinese companies were already restricted from acquiring advanced AI chips, but should the new regulations be enacted as proposed, these companies will likely encounter more stringent limitations on both the semiconductor technology and models necessary for developing sophisticated AI systems.

    On Wednesday, the Biden Administration announced further measures aimed at preventing the transfer of advanced chips to China. Chip manufacturers and packaging companies wishing to export specific chips will be subject to broader licensing requirements unless they implement more rigorous oversight and due diligence to prevent their products from reaching clients in China.

  • Droom Unveils Revolutionary AI-Driven Rental Platform: Droom Rentals

    Droom Unveils Revolutionary AI-Driven Rental Platform: Droom Rentals

    Launch of Droom Rental: An Innovative AI-Powered Platform

    On Wednesday, the automobile marketplace Droom unveiled a new AI-enhanced platform known as Droom Rental, designed to offer versatile rental solutions for its customers. This launch coincided with the 10th anniversary of Droom’s first order. The company highlighted that this novel AI-driven platform will feature a vast array of over 25,000 vehicles across more than 9 categories, comprising bicycles, scooters, cars, buses, yachts, helicopters, and airplanes. These options cater to various requirements, including:

    • Daily rentals (local, intercity, and airport)
    • Weddings
    • Corporate events
    • Employee transportation
    • Self-drive experiences

    Droom stated that the platform has achieved 1,500 listings from over 100 rental suppliers in more than 25 Indian cities, positioning it among the top 12 largest rental companies in India.

    The Founder and CEO of Droom, Sandeep Aggarwal, shared his insights on the automobile rental sector, expressing the historical challenges faced, including:

    • Lack of trust
    • Transparency issues
    • Standardisation
    • Limited fleet diversity and premium options
    • Minimal technological integration

    He expressed, “We recognized an opportunity to utilise Droom.in as our AI and technology-driven platform for automobile transactions. Our goal is to revolutionise the automobile rental landscape in India.” Aggarwal also mentioned the forthcoming integration of an advanced technological stack specifically for corporate rental and employee transportation solutions, aiming to elevate India’s automobile rental market to global standards, or even surpass them.

    Comprehensive Offerings from Droom

    Droom, an AI-driven online platform, provides a wide selection of both used and new vehicles, including over 250,000 vehicles spanning 1,176 cities, catering to more than 1.5 million customers. Each vehicle is subjected to a meticulous 1,100-point inspection, covering aspects such as condition, pricing, and history, thereby ensuring trust, quality, and affordability.

    Additional services offered by Droom include:

    • Orange Book Value
    • ECO
    • History
    • Droom Fintech
    • Velocity

    The company enjoys backing from prominent global investors, including Lightbox, Digital Garage, Toyota Group, Beenext, Beenos, 57 Stars, and other substantial family offices from Southeast Asia and Hong Kong.

  • Hippocratic AI Secures 1 Million to Develop Patient-Centric AI Solutions

    Hippocratic AI Secures $141 Million to Develop Patient-Centric AI Solutions

    Hippocratic AI, a pioneering startup dedicated to developing AI solutions that manage non-diagnostic patient-facing tasks, has successfully secured an impressive $141 million in Series B funding. This investment, which brings the company’s valuation to $1.64 billion, was led by Kleiner Perkins, as the company announced on Thursday. This round of funding follows the $53 million raised nine months ago from General Catalyst and Andreessen Horowitz, alongside a $17 million investment from Nvidia five months prior. Notably, the startup is still in its infancy, having been established less than two years ago.

    While many healthcare-generative AI companies concentrate on alleviating administrative tasks, Hippocratic AI is tackling the pressing issue of healthcare professional shortages. The company is developing AI agents capable of performing straightforward tasks, including:

    • Pre-operating procedures
    • Remote patient monitoring
    • Appointment preparation

    In 2024, Hippocratic AI has also successfully signed contracts with 23 health systems and insurers. The new funding will be utilised to broaden the product’s reach into additional markets as well as expand internationally.

  • Nvidia Finalizes Purchase of AI Infrastructure Innovator Run:ai

    Nvidia Finalizes Purchase of AI Infrastructure Innovator Run:ai

    Nvidia has successfully finalised its acquisition of Run:ai, an Israeli startup specialising in the management and optimisation of AI hardware infrastructure.

    Following the merger, Run:ai has announced that its software, which is currently compatible exclusively with Nvidia products, will be made open source. This change means that competitors such as AMD and Intel can adapt the technology for their own hardware.

    “We are excited to build upon the successes we’ve achieved thus far, expand our skilled team, and enhance our product offerings and market presence,” Run:ai informed Bloomberg in a statement. “Open sourcing the software will allow it to reach a broader audience across the entire AI ecosystem.”

    Nvidia first announced its intention to acquire Run:ai in April, with sources revealing to StartupSuperb that the acquisition price was set at $700 million. However, the deal encountered regulatory challenges, as the European Commission and the U.S. Department of Justice initiated separate investigations to assess potential impacts on market competition.

    In December, the European Commission granted approval for the acquisition to proceed.