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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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Threads uses a more sophisticated search to compete with Bluesky

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Instagram Threads, a rival to Meta’s X, will have an enhanced search experience, the firm said Monday. The app, which is based on Instagram’s social graph and provides a Meta-run substitute for Elon Musk’s X, is introducing a new feature that lets users search for certain posts by date ranges and user profiles.

Compared to X’s advanced search, which now allows users to refine queries by language, keywords, exact phrases, excluded terms, hashtags, and more, this is less thorough. However, it does make it simpler for users of Threads to find particular messages. Additionally, it will make Threads’ search more comparable to Bluesky’s, which also lets users use sophisticated queries to restrict searches by user profiles, date ranges, and other criteria. However, not all of the filtering options are yet visible in the Bluesky app’s user interface.

In order to counter the danger posed by social networking startup Bluesky, which has quickly gained traction as another X competitor, Meta has started launching new features in quick succession in recent days. Bluesky had more than 9 million users in September, but in the weeks after the U.S. elections, users left X due to Elon Musk’s political views and other policy changes, including plans to alter the way blocks operate and let AI companies train on X user data. According to Bluesky, there are currently around 24 million users.

Meta’s Threads introduced new features to counter Bluesky’s potential, such as an improved algorithm, a design modification that makes switching between feeds easier, and the option for users to select their own default feed. Additionally, it was observed creating Starter Packs, its own version of Bluesky’s user-curated recommendation lists.

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Apple’s own 5G modem-equipped iPhone SE 4 is “confirmed” to launch in March

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Tom O’Malley, an analyst at Barclays, recently visited Asia with his colleagues to speak with suppliers and makers of electronics. The analysts said they had “confirmed” that a fourth-generation iPhone SE with an Apple-designed 5G modem is scheduled to launch near the end of the first quarter next year in a research note they released this week that outlines the main conclusions from the trip. That timeline implies that the next iPhone SE will be unveiled in March, similar to when the present model was unveiled in 2022, in keeping with earlier rumors.

The rumored features of the fourth-generation iPhone SE include a 6.1-inch OLED display, Face ID, a newer A-series chip, a USB-C port, a single 48-megapixel rear camera, 8GB of RAM to enable Apple Intelligence support, and the previously mentioned Apple-designed 5G modem. The SE is anticipated to have a similar design to the base iPhone 14.

Since 2018, Apple is said to have been developing its own 5G modem for iPhones, a move that will let it lessen and eventually do away with its reliance on Qualcomm. With Qualcomm’s 5G modem supply arrangement for iPhone launches extended through 2026 earlier this year, Apple still has plenty of time to finish switching to its own modem. In addition to the fourth-generation iPhone SE, Apple analyst Ming-Chi Kuo earlier stated that the so-called “iPhone 17 Air” would come with a 5G modem that was created by Apple.

Whether Apple’s initial 5G modem would offer any advantages to consumers over Qualcomm’s modems, such quicker speeds, is uncertain.

Qualcomm was sued by Apple in 2017 for anticompetitive behavior and $1 billion in unpaid royalties. In 2019, Apple purchased the majority of Intel’s smartphone modem business after the two firms reached a settlement in the dispute. Apple was able to support its development by acquiring a portfolio of patents relating to cellular technology. It appears that we will eventually be able to enjoy the results of our effort in four more months.

On March 8, 2022, Apple made the announcement of the third-generation iPhone SE online. With antiquated features like a Touch ID button, a Lightning port, and large bezels surrounding the screen, the handset resembles the iPhone 8. The iPhone SE presently retails for $429 in the United States, but the new model may see a price increase of at least a little.

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Google is said to be discontinuing the Pixel Tablet 2 and may be leaving the market once more

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Google terminated the development of the Pixel Tablet 3 yesterday, according to Android Headlines, even before a second-generation model was announced. The second-generation Pixel Tablet has actually been canceled, according to the report. This means that the gadget that was released last year will likely be a one-off, and Google is abandoning the tablet market for the second time in just over five years.

If accurate, the report indicates that Google has determined that it is not worth investing more money in a follow-up because of the dismal sales of the Pixel Tablet. Rumors of a keyboard accessory and more functionality for the now-defunct project surfaced as recently as last week.

It’s important to keep in mind that Google’s Nest subsidiary may abandon its plans for large-screen products in favor of developing technologies like the Nest Hub and Hub Max rather than standalone tablets.

Google has always had difficulty making a significant impact in the tablet market and creating a competitor that can match Apple’s iPad in terms of sales and general performance, not helped in the least by its inconsistent approach. Even though the hardware was good, it never really fought back after getting off to a promising start with the Nexus 7 eons ago. Another problem that has hampered Google’s efforts is that Android significantly trails iPadOS in terms of the quantity of third-party apps that are tablet-optimized.

After the Pixel Slate received tremendously unfavorable reviews, the firm first declared that it was finished producing tablets in 2019. Two tablets that were still in development at the time were discarded.

By 2022, however, Google had altered its mind and declared that a tablet was being developed by its Pixel hardware team. The $499 Pixel Tablet was the final version of the gadget, which came with a speaker dock that the tablet could magnetically connect to. (Google would subsequently charge $399 for the tablet alone.)

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