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🚀AI Boost: Microsoft’s Major Chip Purchase

PLUS: AI for Accountants, and Otterly AI’s Search Solution!

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Zephyr
December 18, 2024

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Good morning! It is December 18, 2024, today. We have an exciting lineup of AI news, from Microsoft's massive purchase of AI chips to Basis's funding for AI agents in accounting, and Otterly AI's innovative solution for search results. Let's dive into the latest updates!

1. Microsoft Doubles Down on AI with Massive Nvidia Chip Purchase

Microsoft has reportedly acquired 485,000 Nvidia Hopper AI chips this year, nearly twice the amount bought by its closest competitor, Meta. This strategic investment, tied to Microsoft’s $13 billion backing of OpenAI, bolsters its Azure cloud services and underscores its commitment to AI leadership. Nvidia, whose data center revenue reached $30.8 billion in Q3, remains central to AI advancements despite recent overheating issues in its chips. Microsoft’s aggressive expansion highlights the growing demand for AI infrastructure and Nvidia’s dominance in powering AI technologies.

2. Basis Raises $34M to Revolutionize Accounting with AI Agents

Basis has secured $34 million in a Series A funding round led by Khosla Ventures, with participation from Nat Friedman and Daniel Gross, to expand its AI agents for accountants. These agents, designed to handle tasks autonomously, have saved accountants up to 30% of their time during U.S. deployments. Basis aims to transform accounting by offering tools that understand client needs, work independently, and free up accountants for higher-level work. This funding follows a $3.6 million seed round and a successful partnership with CPA firm Wiss, highlighting the growing demand for AI-driven efficiency in accounting.

Credit: Otterly AI

3. Otterly.AI Emerges to Tackle AI Search Visibility Challenges

Austrian startup Otterly.AI helps businesses adapt to declining organic traffic caused by AI-driven search results like Google’s AI Overviews. Exiting stealth mode with over 1,000 users, Otterly offers tools to monitor and optimize brand visibility in AI results, with weekly tracking and plans for a recommendation engine. Aiming to become the Semrush of AI search, Otterly is reshaping marketing strategies for the AI era.

4. Kioxia Shares Jump 10% in Long-Awaited Tokyo IPO

Kioxia, the third-largest flash memory maker, saw its shares rise 10% on its first day of trading, following a delayed IPO process. Bain Capital, which acquired Kioxia in 2018 for $18 billion, faced multiple hurdles, including the pandemic and failed merger talks. The IPO valued Kioxia at $5.2 billion, significantly below Bain’s initial expectations. Despite early dips, the stock closed higher, offering relief as Bain navigates Japan's competitive private equity market, also contending with KKR over Fuji Soft.

Credit: Asteria

5. Marey AI: A 'Clean' Video Model Set for Hollywood Launch

Moonvalley and Asteria Film are launching Marey, a generative video model built on ethically sourced, licensed data, for Hollywood’s enterprise productions in early 2025. Unlike other models, Marey ensures legal and ethical compliance. It offers features like text-to-video and custom model creation, aiming to provide precise creative control for studios. Marey enters a competitive market, with other AI companies like OpenAI and Adobe also developing similar tools for the entertainment industry.

6. YouTube and CAA Partner on AI Tools for Celebrity Likeness Management

YouTube and CAA have teamed up to create tools that allow celebrities to manage their digital likenesses, including AI-generated content, on the platform. This partnership aims to protect artists' rights while unlocking new creative possibilities. The tools, which will be tested with top creators, will help identify and manage AI-generated content featuring celebrities' likenesses, with removal requests available through YouTube’s privacy complaint process. This deal marks a key step in responsibly using AI while ensuring celebrities retain control over their digital identities.

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Stay tuned for more updates, and have a fantastic day!

Best,

Zephyr