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Alibaba Drives Record Agreement with Mint, a $2.5 billion China AI Company

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Alibaba Drives Record Agreement with Mint, a $2.5 billion China AI Company

Following a series of major investments, Alibaba Group Holding Ltd. led the largest single financing round for a Chinese artificial intelligence startup. This indicates that the e-commerce company is once again allocating cash in the pursuit of growth.

Alibaba has made significant investments in generative AI, the technology that underpins ChatGPT, alongside Tencent Holdings Ltd. and other Silicon Valley heavyweights like Microsoft Corp. According to people familiar with the deal, it spearheaded a $1 billion fundraising round in Moonshot AI with current supporter Monolith Management, increasing the year-old company’s valuation eight-fold to almost $2.5 billion. They joined previous backers including food delivery giant Meituan’s investment arm Long-Z and Hongshan, formerly Sequoia China, the people said, asking not to be identified discussing a private transaction.

Established in March 2023, Moonshot AI is one of the more well-known Chinese businesses focused on generative AI, with aspirations to someday compete with OpenAI and Google. Since releasing its Kimi chatbot to the general public in November of last year, it has introduced a platform that allows developers to create AI apps on top of its model. The company was only worth $300 million when it first obtained investment.

Regarding the company’s funding information, which were initially made public by local media, including 36kr, Moonshot AI declined to comment. Without providing any specifics, Monolith declared its involvement in the most recent round. Requests for comments from Alibaba representatives were met with silence.

Joseph Tsai and Eddie Wu, the company’s new CEOs, have promised to turn around a struggling business that has been severely damaged by two years of regulatory scrutiny and a downturn in the economy. It’s promoting fresh investment in disruptive technologies like artificial intelligence (AI) and coordinating a convoluted multi-way split that will elevate business lines from cloud to logistics. According to Tsai, the cloud division currently services roughly 80% of China’s IT companies and is home to half of the nation’s generative AI startups.

However, they are entering a competitive industry as tech giants and venture capital firms invest billions in AI service development and training, following a surge of activity in Silicon Valley and Europe. Other Chinese AI businesses, like Baichuan and Zhipu, raised substantial sums from investors.

That’s in spite of persistent worries about US sanctions that prevent Chinese companies from purchasing the most potent Nvidia Corp. chips, which are needed to develop and execute AI models. Due to the technology’s potential for military and geopolitical use, which might strain already strained relations, Washington has targeted China’s AI initiatives.

Alibaba and longstanding competitor Tencent previously participated in a $300 million+ funding round for Zhipu in 2023. The company is attempting to bring back the cloud industry and include AI with its proprietary model, Tongyi Qianwen, into a broad business that includes entertainment.

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AI Features of the Google Pixel 8a Leaked before the Device’s Planned Release

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A new smartphone from Google is anticipated to be unveiled during its May 14–15 I/O conference. The forthcoming device, dubbed Pixel 8a, will be a more subdued version of the Pixel 8. Despite being frequently spotted online, the smartphone has not yet received any official announcements from the company. A promotional video that was leaked is showcasing the AI features of the Pixel 8a, just weeks before its much-anticipated release. Furthermore, internet leaks have disclosed software support and special features.

Tipster Steve Hemmerstoffer obtained a promotional video for the Pixel 8a through MySmartPrice. The forthcoming smartphone is anticipated to include certain Pixel-only features, some of which are demonstrated in the video. As per the video, the Pixel 8a will support Google’s Best Take feature, which substitutes faces from multiple group photos or burst photos to “replace” faces that have their eyes closed or display undesirable expressions.

There will be support for Circle to Search on the Pixel 8a, a feature that is presently present on some Pixel and Samsung Galaxy smartphones. Additionally, the leaked video implies that the smartphone will come equipped with Google’s Audio Magic Eraser, an artificial intelligence (AI) tool for eliminating unwanted background noise from recorded videos. In addition, as shown in the video, the Pixel 8a will support live translation during voice calls.

The phone will have “seven years of security updates” and the Tensor G3 chip, according to the leaked teasers. It’s unclear, though, if the phone will get the same amount of Android OS updates as the more expensive Pixel 8 series phones that have the same processor. In the days preceding its planned May 14 launch, the company is anticipated to disclose additional information about the device.

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Apple Unveils a new Artificial Intelligence Model Compatible with Laptops and Phones

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All of the major tech companies, with the exception of Apple, have made their generative AI models available for use in commercial settings. The business is, nevertheless, actively engaged in that area. Wednesday saw the release of Open-source Efficient Language Models (OpenELM), a collection of four incredibly compact language models—the Hugging Face model library—by its researchers. According to the company, OpenELM works incredibly well for text-related tasks like composing emails. The models are now ready for development and the company has maintained them as open source.

In comparison to models from other tech giants like Microsoft and Google, the model is extremely small, as previously mentioned. 270 million, 450 million, 1.1 billion, and 3 billion parameters are present in Apple’s latest models. On the other hand, Google’s Gemma model has 2 billion parameters, whereas Microsoft’s Phi-3 model has 3.8 billion. Minimal versions are compatible with phones and laptops and require less power to operate.

Apple CEO Tim Cook made a hint in February about the impending release of generative AI features on Apple products. He said that Apple has been working on this project for a long time. About the details of the AI features, there is, however, no more information available.

Apple, meanwhile, has declared that it will hold a press conference to introduce a few new items this month. Media invites to the “special Apple Event” on May 7 at 7 AM PT (7:30 PM IST) have already begun to arrive from the company. The invite’s image, which shows an Apple Pencil, suggests that the event will primarily focus on iPads.

It seems that Apple will host the event entirely online, following in the footsteps of October’s “Scary Fast” event. It is implied in every invitation that Apple has sent out that viewers will be able to watch the event online. Invitations for a live event have not yet been distributed.
Apple has released other AI models before this one. The business previously released the MGIE image editing model, which enables users to edit photos using prompts.

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Google Expands the Availability of AI Support with Gemini AI to Android 10 and 11

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Android 10 and 11 are now compatible with Google’s Gemini AI, which was previously limited to Android 12 and above. As noted by 9to5google, this modification greatly expands the pool of users who can take advantage of AI-powered support for their tablets and smartphones.

Due to a recent app update, Google has lowered the minimum requirement for Gemini, which now makes its advanced AI features accessible to a wider range of users. Previously, Gemini required Android 12 or later to function. The AI assistant can now be installed and used on Android 10 devices thanks to the updated Gemini app, version v1.0.626720042, which can be downloaded from the Google Play Store.

This expansion, which shows Google’s goal to make AI technology more inclusive, was first mentioned by Sumanta Das on X and then further highlighted by Artem Russakoviskii. Only the most recent versions of Android were compatible with Gemini when it was first released earlier this year. Google’s latest update demonstrates the company’s dedication to expanding the user base for its AI technology.

Gemini is now fully operational after updating the Google app and Play Services, according to testers using Android 10 devices. Tests conducted on an Android 10 Google Pixel revealed that Gemini functions seamlessly and a user experience akin to that of more recent models.

Because users with older Android devices will now have access to the same AI capabilities as those with more recent models, the wider compatibility has important implications for them. Expanding Gemini’s support further demonstrates Google’s dedication to making advanced AI accessible to a larger segment of the Android user base.

Users of Android 10 and 11 can now access Gemini, and they can anticipate regular updates and new features. This action marks a significant turning point in Google’s AI development and opens the door for future functional and accessibility enhancements, improving everyone’s Android experience.

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