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

Paris-based startup Mistral AI has made an immediate splash in the world of artificial intelligence, securing partnerships with IBM, Microsoft and others nine months after its launch. The company is offering natural language processing models, including its flagship Mistral Large, which becomes only the second LLM (after OpenAI) to land a commercial berth on Microsoft’s Azure cloud, where Meta Platforms’ Llama 2 is available in preview. Boasting “top-tier reasoning capacities” and sophisticated conversational capabilities, Mistral Large specializes in “reasoning, analysis and generation (RAG), is multilingual and supports up to 32,000 tokens.” Continue reading France’s Mistral AI Makes Its Global Debut on Microsoft Azure

Facebook and AI startup Hugging Face open-sourced their new natural language processing model, Retrieval Augmented Generation (RAG), which finds and interprets contextual information on the fly. RAG is now available as a component of the Hugging Face transformer library, integrated with the new Datasets library to offer the indexed knowledge source RAG relies on. According to Facebook, RAG can alter or add to its internal knowledge, letting researchers control the model without needing to retrain it. Continue reading Facebook Makes New Natural Language Model Open Source