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- IBM’s AI Chip May Find Use in Generative AI
In Today’s Edition
Korea Credit Data raises $75.7 million from Morgan Stanley
B2B inventory marketplace Ghost reappears with $30M Series B to expand outside US
Tesla wins permit approval for Diner and Drive-in Movie Supercharger in LA
WordPress Now Offers a 100-Year Plan for Domains
Major iPad Pro overhaul planned for 2024, including new Magic Keyboard with bigger trackpad
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🚀Startups Nuts
Korea Credit Data (KCD) received $75.7M from Morgan Stanley, valuing the fintech startup at $1B. KCD offers financial services for SMEs in South Korea, with their bookkeeping app, Cash Note, being their main service. They plan to use the investment to speed up the digital transition of Korea's SME ecosystem and set up a bank for SMEs using data from Cash Note, pending approval from Korean financial regulators.
Ghost, a surplus inventory B2B marketplace, raised $30M in a Series B led by Cathay Innovation. They've doubled their team and grown their membership base to 1,000+, with uploaded inventory increased by 500%. They'll use the funds to hire for product, engineering, and design roles, and expand globally. They also plan to enhance product automation and personalization using AI.
🏭Business Nuts
Tesla has won permit approval for its Diner and Drive-In Movie Supercharger in Los Angeles. The site will house 32 Supercharger stalls, a restaurant, rooftop seating, and two movie theater screens. It was originally going to be built in Santa Monica. A copy of the approval documents is available in the article.
WordPress has a new plan that allows users to register and host their websites for a century. It is aimed at providing companies and families a way to preserve content beyond a generation. The plan includes unmetered bandwidth and 24/7 personalized support. It costs $38,000. WordPress will keep multiple backups of the content across distributed data centers.
📱Tech Nuts
Apple is planning a major update to the iPad Pro for next year. The new iPad Pros will have slightly larger OLED displays and a revamped Magic Keyboard. They will feature M3 chips. The new Magic Keyboard will have a larger trackpad to make the iPad Pro more like a laptop. Apple will release the new iPad Pro in the spring or summer of next year. No updates to the devices are planned between now and then.
IBM's latest AI chip is more than a dozen times as energy efficient as conventional microchips on automated transcription tasks. It is capable of 12.4 trillion operations per second per watt. When tested on speech recognition tasks, the chip was able to perform as accurately as neural networks run on conventional hardware while completing the job seven times as fast and up to 14 more efficiently. The chip can support transformers and may be beneficial for many types of AI systems.
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🎁Miscellaneous
There are no empty spaces within an atom. The empty atom picture often shown in popular science is incorrect. It is unclear who created the myth, but it was popularized in Carl Sagan's Cosmos TV series. This essay explains why the idea of an empty atom is wrong by carefully interpreting quantum theory.
💡What else are we reading and seeing?
The strange, secretive world of North Korean science fiction
Tech elites plot new invention: A North Bay city
U.S. tackles crypto’s tax mess
Equity comp has taken a hit with tech stocks
The US war with Big Tech could have unintended consequences
Is LinkedIn finally cool now?
Private equity firm Veritas makes takeover offer to Blackberry
7 secrets to having a productive day
How to power nap your way to maximum productivity
How the new science of meditation is changing
7 Emotionally Intelligent Ways To Navigate Ego
😎Fun Fact
The shortest war in history was between Britain and Zanzibar on August 27, 1896, lasting only 38 minutes
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