Music startup Suno, which leverages ChatGPT tech with the goal of emulating that app’s success in music, has raised $125 million in Series B funding, resulting in a valuation of $500 million. Founded by Harvard physics PhD turned tech entrepreneur Mikey Shulman, the company is being called “a rising star” in the realm of generative AI. Suno lets people generate original songs by using text prompts or lyrics, with the AI supplying the melodies and harmonies for fully-formed compositions. “We started Suno to build a future where anyone can make music,” according to the company. Continue reading AI Startup Suno Raises Funds to ‘Democratize Music Creation’

The Biden Administration has opened a call for applications for $285 million in funding for a national research institute that will develop semiconductor “digital twins,” software representations of semiconductor hardware that live in the cloud, where teams can collaborate remotely to design, test and analyze the components, allowing engineers to discover and address problems before the manufacturing process begins. The CHIPS Manufacturing USA institute will be the hub for companies and organizations advancing this work, which is meant to decrease domestic reliance on foreign-sourced chips as a matter of national security. Continue reading Government Commits $285 Million for ‘Digital Twin’ Research

Perplexity is a year-old AI startup whose conversational “answer engine” has gained attention as a potential challenger to conventional search. Two months ago the venture raised $73.6 million in Series B funding from investors including Nvidia and Amazon founder Jeff Bezos via his Bezos Expeditions, resulting in a valuation of about $520 million. Now the company is said to be finalizing another cash infusion that is predicted to double its valuation to roughly $1 billion. The current financing round is reportedly being led by former Y Combinator partner Daniel Gross through his own investment fund. Continue reading AI Startup Perplexity Targets $1B Valuation with New Funding

Ad tech platform Vibe has raised $22.5 million in a Series A funding round led by venture firm Singular. Vibe plans to use the funds to “continue building a more efficient streaming TV advertising ecosystem and become the No. 1 connected TV ad resource for small and midsize businesses,” or SMBs. Vibe, which calls itself the “Google Ads of streaming,” says its technology “radically democratizes access to streaming TV advertising for SMBs with an easy-to-use ad platform mimicking the power and ease-of-use of Google or Meta, but for CTV and OTT.” Continue reading Ad Firm Vibe Looks to Serve as the ‘Google Ads of Streaming’

Further insights into OpenAI CEO Sam Altman’s global fundraising effort for a multi-billion dollar computer chip venture now appears to be toward a goal establishing a network of semiconductor plants to manufacture AI chips, according to media reports. The plan would see the 38-year-old entering a hotly competitive yet underserved field, dominated by Nvidia and increasingly Intel, AMD and Qualcomm. Apparently, he feels the existing players aren’t set up to produce the amount of chips required to meet the goals of OpenAI and others through 2030, now that many businesses incorporate AI into workflows and consumer products. Continue reading Altman Is Seeking Billions in Global Funding for AI Chip Plants

Startups enjoyed record venture capital funding last year, raising $621 billion globally and seeding several new tech hubs around the world, although Silicon Valley remains ground zero, according to research firm CB Insights. The U.S. accounted for roughly half of the funding raised globally, with stateside startups raising roughly $311 billion. Bootstrappers in Silicon Valley and New York retained the leading positions in terms of most money raised and number of deals completed, says CBI. Early-stage funding accounted for 63 percent of Philadelphia’s startup deals. Los Angeles and Dallas also grew early stage numbers, to 62 and 55 percent respectively. Continue reading Global Startups Raised $621 Billion in 2021, Breaking Record

As part of a settlement with the Securities and Exchange Commission, Tesla CEO and co-founder Elon Musk has agreed to pay a $20 million fine and step down as chairman of the California-based electric automaker for three years. The SEC accused Musk of securities fraud after he tweeted from his personal Twitter account that he had secured enough funding to take Tesla private. Musk has admitted to no wrong-doing. In addition to Musk’s significant personal fine, Tesla has agreed to develop leadership reforms and pay $20 million for not properly vetting the CEO’s tweets. Continue reading Series of Tweets Cost Elon Musk Chair Position, Major Fine

The EU’s European Commission announced its plans to make Netflix, Amazon and other streaming services operating within the European Union to dedicate at least 30 percent of their catalogs to content produced locally. A final vote approving the new law, described as “a mere formality” by Roberto Viola of the European Commission, is expected in December. The European Union plans to publish a report that details the percentages of European projects that are tied to multiple streaming platforms. Netflix is reportedly already close to the 30 percent quota. Continue reading EU Will Require Streaming Services to Feature Local Content

The Venture Reality Fund has released its H2 2017 VR Industry Landscape map and report. The organization has generously posted the map, along with maps of the 1H 2017 European Landscape and Q2 2017 AR Industry Landscape. The VR Fund’s latest report highlights more than 450 companies developing infrastructure, tools, platforms, and applications for the VR/AR ecosystem. An interactive table, which VR Fund co-founder Tipatat Chennavasin began building in 2014, provides details of the companies.  Continue reading Venture Reality Fund Reports on Current VR/AR Landscape

Augmented reality startup Lightform has come out of the stealth mode it’s been in for three years, announcing a $2.6 million funding round from former Oculus head scientist Steven LaValle, Lux Capital, Seven Seas and NSF. What Lightform has been working on is a device that can scan the environment and create a high-resolution mesh, which it then combines with very precisely targeted digital projections of light. That makes it capable of creating augmented reality in any environment, without the need for a headset. Continue reading Startup Lightform Readies Release of Inexpensive AR Scanner

Magic Leap, the startup that raised $542 million in a funding round led by Google, has filed a patent for “cinematic reality,” in which users will get access to the company’s augmented reality tech through a headset and belt pack. Magic Leap’s system stores content in the cloud, and any augmented reality content can be configured to fit in with the user’s physical environment. The patent lists interesting possible uses for the technology, from grocery shopping and home decor to surgery and hospital stays. Continue reading Magic Leap Patent Reveals Possibilities for Augmented Reality

Streaming service Vimeo is planning to team up with YouTube network Maker Studios to fund and distribute projects this year that will get exclusive release windows via Vimeo On Demand, the platform’s premium VOD tier. As part of the deal, Vimeo On Demand will be made available to Maker Studios’ 55,000 creators. Disney-owned Maker Studios has started looking into distribution options, including its own Maker.TV player and a new programming partnership with Dish’s soon-to-launch streaming service, Sling TV. Continue reading Vimeo Enters into Deal with Maker Studios for Original Content

Reddit, the self-proclaimed “front page of the Internet,” wants to give something back to its millions of active contributors. In a blog post Friday, Reddit announced its plans to distribute 10 percent of its equity in the form of ‘reddit notes’ to approximately 950,000 users in the fall of 2015. The ‘currency’ can be used to tip, donate, or trade on the Reddit site, although specifics are still being worked out. Reddit plans to use a random lottery for distributing reddit notes to active user accounts. Continue reading Reddit to Thank Active Community Members with Equity Share

Google may lead Andreessen Horowitz and other investors in a $500 million round of funding for Florida-based hardware and software maker Magic Leap, according to sources. The company is working on a new 3D experience that is more advanced than current virtual reality and augmented reality technologies. Magic Leap has released very few details about its “cinematic reality” tech, but it is most likely going to involve super high-resolution 3D images projected from special glasses. Continue reading Google to Lead Investment in Magic Leap’s ‘Cinematic Reality’

Universal Music Group, largest of the major music labels, just closed an investment deal with Rockbot, a virtual jukebox service that provides music to bars, restaurants and other locations. Through Rockbot, businesses can play licensed music while customers use a mobile app to check in and interact with the songs. One perk is the ability for customers to vote on which music will be played. Rockbot expects to use the new funding to expand its reach throughout the U.S. Continue reading Rockbot: Universal Music Invests in Social Jukebox Service