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In Today’s Edition
The Startup World Outside Silicon Valley
Dell has emerged as a top vendor for AI-oriented servers
Nvidia Takes an Added Role Amid AI Craze: Data-Center Designer
Microsoft confirms that the option to uninstall the Recall feature in Windows 11
New hydrogel ‘invention' could slow, treat arthritis in early stages, claims China
🚀Startups Nuts
In regions outside of major tech hubs, startups often face unique challenges due to limited access to venture capital, talent, and infrastructure. These startups, known as "camels," prioritize profitability from day one and focus on slow, sustainable growth rather than the rapid expansion typically associated with Silicon Valley unicorns. Despite obstacles, many camel startups have found innovative solutions to local problems and achieved significant market success
Other News
Magic, an SF-based generative AI coding company, raised $320m
Codeium, a San Jose, Calif., code acceleration platform, raised $150m in Series C funding at a $1.25b valuation
Bridge, a San Antonio, Texas-based money movement startup, raised $58m
Last Energy, a Washington, D.C., developer of micro-nuclear power plants, raised $40m in Series B funding
Agrim, an Indian ag supply chain startup, raised $17.3m in Series A funding
Turntable Labs, a Miami-based provider of the Hangout social media platform, raised $8.2m in seed funding
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🏭Business Nuts
Intel is working with its bankers to come up with a variety of options to help fix its flagging businesses. The company has been hampered by longtime problems and more recent missteps, and announced earlier this year it would lay off thousands of employees. CEO Pat Gelsinger has laid out plans to mount an ambitious turnaround at the chipmaker, which has largely been left out of the artificial intelligence boom.
Other News
Ford is recalling 90,736 vehicles due to engine valve issues, according to U.S. regulators. Dealers will test recalled engines and replace them as necessary free of charge.
Dell has emerged as a top vendor for AI-oriented servers, especially those based around Nvidia chips. Demand has skyrocketed from a handful of businesses and cloud providers that are investing billions in developing next-generation AI.
Boeing’s contract with the International Association of Machinists expires on Sept. 12. A union head described negotiations as a “tough slog,” and without a new contract, Boeing could face a 32k-worker strike — its first strike in 16 years.
Rupert Murdoch’s REA Group said it’s considering an offer to acquire competitor Rightmove, a UK property website. Rightmove shares spiked 25% Monday immediately following the announcement.
Paramount will sell VidCon, its annual creators conference, to UK media firm Informa, which owns cons including Toronto Comicon.
📱Tech Nuts
Nvidia CEO Jensen Huang is trying to build Nvidia into a one-stop shop for all of the key elements in a data center. The strategy is designed to make the company's offerings stickier for customers. Nvidia is also building a business that supplies AI-optimized Ethernet, a business that is expected to generate billions of dollars in revenue within a year. The competition in the space is growing, with companies like AMD bolstering their data-center offerings and chip suppliers like Intel offering services and systems to help customers build and operate AI tools.
Other News
Amazon will launch “Remarkable” Alexa as a $5-$10 monthly subscription service next month, and it will be powered by Claude.
Alibaba Cloud released Qwen2-VL, a powerful new model for visual and language processing, that offers advanced capabilities like the ability to understand 20 mins of video.
1X, a Norwegian robotics startup, has introduced NEO Beta, a humanoid robot designed for home use, showcasing its capabilities such as assisting with everyday tasks through two demonstration videos.
Microsoft confirms that the option to uninstall the Recall feature in Windows 11 is a bug, clarifying that a fix will be implemented in a future update.
The Federal Government's antitrust case against Google revealed 22 instances where employees urged one another to disable chat history to avoid creating a record of sensitive discussions.
🎁Miscellaneous
Scientists in China have developed a hydrogel that may be able to treat osteoarthritis and slow down disease progression. The hydrogel restores cartilage lubrication, preventing the progression of early osteoarthritis. It is comprised of tiny hollow spheres made of a biomaterial derived from natural protein and a synthetic polymer, the combination of which creates a favorable environment for cell growth and hydration. The treatment is able to precisely target small areas of inflammation. The hydrogel has shown promise in rat studies, outperforming traditional treatments in terms of reducing friction and improving joint lubrication.
💡What else are we reading and seeing?
Founder Mode
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😎Fun Fact
On this day: Microsoft purchases Nokia’s mobile phone business for $7.2 billion, signalling a major shift in the mobile phone industry
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🐦Joke of the Day
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