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Coveo buys personalisation AI firm Qubit
Coveo, the company which uses artificial intelligence to improve digital experiences, has acquired personalisation specialist Qubit. The pair will team up to deliver new digital tools for retailers. "Our two businesses complement each other perfectly across both technology and expertise," said Qubit's CEO. Coveo has been looking to expand into the UK and European markets.
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Elastic to acquire profiling startup Optimyze
Data observability platform Elastic has agreed to buy profiling startup Optimyze Inc. Elastic intends to integrate the Optimyze and Cmd innovations as well as the Open Policy Agent capabilities from build security into the Elastic Agent. The acquisition is expected to close during Elastic’s fiscal second quarter, subject to customary closing conditions. Financial terms have not been disclosed.
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Facebook develops 'egocentric' AI
Facebook has revealed Ego4D, an AI research project aimed to improve virtual and augmented reality (AR) tech. The project focuses on AI's ability to understand first-hand human experiences. Most AIs interact from a third-person perspective. Ego4D is a dataset of 2,792 hours of first-person video, along with benchmark tests for neutral networks. Facebook will soon release its first AR glasses.
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Microsoft shuts down Chinese version of LinkedIn
Microsoft’s LinkedIn said it would shut the version of its site that operates in China. The decision was taken due to the difficulty of complying with China's regulations. Linkedin was the last major American social-media network operating openly in the country. The company will launch a jobs-only version of the site without a social feed or the ability to post articles, later this year.
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Evan Sharp leaves Pinterest to join Jony Ive's LoveFrom
Pinterest co-founder Evan Sharp is joining Jony Ive's new design venture. Sharp will remain on Pinterest's board until 2024 but has decided to join up with ex-Apple design chief Ive at LoveFrom. He founded Pinterest in 2010 alongside Ben Silbermann and Paul Sciarra, and oversaw product strategy and user experience. "I’m thankful for his partnership, leadership and friendship," said Silbermann.
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MLOps platform Weights & Biases completes $135m funding round
MLOps platform Weights & Biases has completed a Series C funding round worth $135m, taking its valuation to more than $1bn. Its platform is used by the likes of NVIDIA, Facebook Research, Graphcore and Pandora to commercialise machine learning. "Our ultimate goal is to make machine learning work in the real world with a platform that ML engineers love," said Lukas Biewald, co-founder.
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BT launches security platform Eagle-i
BT has launched Eagle-i, a new AI-powered cybersecurity platform. The UK telecoms giant has taken strides in recent month to boost its security offering, investing in Safe Security and partnering with a number of specialist providers. This latest step will deliver a "proactive approach" to security for customers. Eagle-i will leverage advanced AI and automation in multi-cloud environments.
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Hyundai Motor to develop its own chips
Hyundai Motor wants to develop its own chips to reduce reliance on chipmakers, its COO José Muñoz has revealed. He added that the company had its "toughest months" during the summer, when it was forced to temporarily close some factories due to the global chip shortage. "The industry is reacting very, very fast," Munoz said. "But also in our case, we want to be able to develop our own chips."
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US becomes largest Bitcoin mining centre after China ban
The US has overtaken China as the number one destination for Bitcoin miners in the world, according to new data from Cambridge University. As of July, 35.4% of Bitcoin’s hashrate is in the US, a 428% increase from September 2020. The increase is a consequence of China's banning of crypto transactions, which saw the country plummet from a dominant 38% of global market share to zero.
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Recruiting startup Karat reaches unicorn status after raising $110m
Karat a startup that helps companies recruit software engineers faster has reached a $1.1bn valuation after raising a $110m funding round led by Tiger Global. Karat has built what it calls the “Interviewing Cloud”, an “interviewing as a service” platform that helps screen applicants for skills and problem-solving abilities. Karat has the capacity to conduct 50,000 interview hours per month.
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