Data management firm Databricks has agreed to purchase generative AI company MosaicML in a deal valued at $1.3 billion. The three-year-old generative AI startup has developed a platform it says makes it “fast, cost-effective, and easy” for companies to train LLMs and deploy tools to use them. MosaicML has privately raised roughly $64 million to date. Its last valuation was $222 million in January, which means it was purchased for a healthy 6x multiple in a move that appears to prime Databricks for what one brokerage calls an “inevitable” IPO. Continue reading Databricks Acquiring OpenAI Competitor MosaicML for $1.3B

Spotify will acquire London-based startup Sonantic, a company that creates realistic human voices from text using a proprietary AI engine. Sonantic made a recent high-profile contribution to pop culture by providing the means to simulate actor Val Kilmer’s voice in Paramount’s summer blockbuster “Top Gun: Maverick.” The move expands the music and podcasting streamer to expand into audio technology with broad implications. Spotify vice president of personalization Ziad Sultan says the technology will be integrated into the main platform to allow the company “to engage users in a new and even more personalized way.” Continue reading Spotify Announces Plan to Acquire AI Voice Startup Sonantic