Welcome to another episode of the AI Daily podcast, your premier source for all things AI and machine learning. Join us as we discuss three significant fundraising events in the AI world, dissect the new mixed image editing tool by Playground AI, and explore the unveiling of OLMo, a new 70 billion parameter model by the Allen Institute.

Key Points

1️⃣ Fundraising Frenzy

* Three large companies secure significant fundraising deals in the AI industry: Runway ML raises $141 million, Inflection raises $1.3 billion, and Typeface raises $100 million.

* Runway ML focuses on video and general AI interpolation, inflection builds foundation models with a cluster of 22,000 H100 GPUs, and Typeface specializes in generative AI for content creation.

* The fundraising frenzy in the AI sector shows no signs of slowing down, with global investment dollars flowing into AI and GPU-related ventures. Expect more news on fundraising and acquisitions in the future as the industry continues to grow and evolve.

2️⃣ Playground AI

* Playground AI introduces a new mixed image editing tool, combining elements of Photoshop and Figma in a collaborative generative AI tool.

* The image editing and content creation space is vast, but Playground AI stands out with its well-built product and the ability to generate images quickly.

* Despite the crowded market, Playground AI's user-friendly experience, tutorials, and free access make it worth trying out for creators seeking better visualization and editing tools.

3️⃣ OLMo by Surge AI

* The Allen Institute introduces OLMo, a new 70 billion parameter model focused on scientific research and discovery.

* OLMo is an open model, with the Allen Institute planning to share every step of its development for future scientists and researchers to build upon.

* Partnerships with AMD, Surge AI, Mosaic, and others aim to support OLMo's training and data labeling, potentially shaping the competition between AMD and Nvidia in the hardware space. The open nature of OLMo has significant implications for the industry and may attract startups and corporations looking to leverage open-source models.

🔗Episode Links

* Runway Fundraising

* Inflection Fundraising

* Typeface Fundraising

* Playground AI

* OLMo

* Eric Hartford on OpenOrca

* Salesforce

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