Toronto Global’s Post

6 reasons why DeepTech is on the rise. Here are the key drivers. 1. Breaking into ‘old’ industries: Startups are now better at entering complex, global supply chains. These old industries are more open to new technologies. This trend is leading to larger and longer contracts. 2. Scientific advances: Machine learning, computational biology, materials, and advanced engineering have advanced. These advances allow companies to build, test, and iterate deep tech products faster and cheaper. This drives value in fields like techbio, space, aerospace, and robotics. 3. Booming space-tech sector: The space-tech sector is still growing. Launch costs are decreasing. There is a growing acceptance of new technical approaches. This makes space tech more accessible and innovative. 4. Quantum computing breakthroughs: Quantum computing productization is slow but steady. There are breakthroughs in quantum sensing and quantum networking. These advancements show promise for the future of quantum technologies. 5. Scale-up challenges: Late-stage funding, manufacturing, and distribution are still challenging. Despite these hurdles, the deep tech sector continues to grow. Overcoming these challenges is key to future success. 6. Fragmented global supply chains: Global supply chains and markets are becoming more fragmented. This fragmentation creates both challenges and opportunities. Navigating this landscape requires innovation and adaptability. Deep tech is changing the world. Max Bautin, co-founder & Managing Partner of IQ Capital, a finalist in the Firm of The Year category at the European VC Awards, joined us recently to discuss this. Listen to our conversation with Max on EUVC. Link in comments. 🔽 #venturecapital #angelinvesting #startupfunding #fundraising #europe

Groq, a leader in fast AI inference, has secured a $640M Series D round at a valuation of $2.8B, led by BlackRock Private Equity Partners AG with participation from Neuberger Berman, Type One Ventures, and strategic investors including Cisco Investments, KDDI Corporation, and Samsung Catalyst Fund. Groq also announced that Stuart Pann, formerly a senior executive from HP and Intel, joined its leadership team as Chief Operating Officer, and a gains world-class expertise of its newest technical advisor, Yann LeCun, VP & Chief AI Scientist at Meta. "You can’t power AI without inference compute. We intend to make the resources available so that anyone can create cutting-edge AI products, not just the largest tech companies. This funding will enable us to deploy more than 100,000 additional LPUs into GroqCloud. Training AI models is solved, now it's time to deploy these models so the world can use them. Having secured twice the funding sought, we now plan to significantly expand our talent density. We're the team enabling hundreds of thousands of developers to build on open models and – we’re hiring," said Jonathan Ross, CEO and Founder of Groq. https://lnkd.in/eBqU2Bda #AIHWEdgeAISummit #AI #EdgeAI #Innovation #AIHardware #Funding

The rumors of my retirement have been greatly exaggerated…. (with apologies to Mark Twain). I'm excited to share that I have joined Proficium, Inc. as the new Chief Technology Officer. At Proficium, we have a robust foundation in hyperscale and AI-focused development, and I'm eager to build on this strength by driving innovation and expanding our capabilities. In contrast to many in the industry that are merely talking about AI solutions, we are already collaborating with the largest AI innovators, data centers, and hyperscalers at the bleeding edge. My focus will be on leveraging our existing expertise to explore new frontiers in technology, ensuring we stay at the forefront of the industry. Together with the talented team at Proficium, we aim to push boundaries and deliver transformative solutions that address real-world challenges. Looking forward to this new journey and the opportunities ahead! #Innovation #AI #Technology #DataCenter #Hyperscale #Leadership #ProficiumInc

Deep tech, short for deep technology, refers to innovative and cutting-edge technologies that often involve significant scientific advancements and engineering. These deep tech use cases represent just a glimpse of the transformative potential that emerging technologies have across various industries, paving the way for a future marked by innovation and efficiency. . . . . #devSpection #devSpectionServices #deeptech #techno #techhouse #deep #tech #technology #tech #innovation

Ever heard of Cerebral Valley? If you are into AI, you definitely should know this term.   Cerebral Valley is another name for the San Francisco Bay Area (San Francisco, Palo Alto, and Mountain View). It is known for its high concentration of startups and companies that focus on AI. This term plays on the "Silicon Valley" alias, emphasizing the region's crucial role in the AI industry, much like how Silicon Valley is associated with broader tech innovation. The name highlights the area's importance as a center for advanced AI research, development, and commercialization.   The region is home to many leading AI companies and research institutions, including OpenAI, Google DeepMind, and others. It is known for its dense network of AI startups, venture capitalists, and tech talent.   It's "the spot" to be if you are running an AI company (who is not doing that today in the tech world?) or kicking off your AI startup (once again, who is not doing that today in the tech world?).   The Cerebral Valley community regularly posts information about events and meetups and has an updated Google Spreadsheet with job offers from dozens of US and European companies.   The AI boom rejuvenated the tech and startup community in the US, especially in California, giving birth to places like Cerebral Valley that will (try) to lead the AI revolution.   Will there ever be a similar place in Europe?   Here's where you can find more info about the Cerebral Valley https://cerebralvalley.ai/   #CerebralValley #AICommunity #AImeetups #AIjobs

$12 Billion in the last 12 Months! About: CoreWeave is an AI hyperscaler providing scalable, customized solutions for complex workloads. Their technology supports machine learning, AI, graphics, life sciences, and real-time streaming. With top-tier teams and engineering talent, CoreWeave ensures rapid deployment of advanced computing. They operate a growing network of data centers across the US. Recent Funding: CoreWeave has secured a massive $7.5 billion debt financing facility, led by Blackstone, with support from Magnetar, Coatue, Carlyle, CDPQ, DigitalBridge Credit, BlackRock, Eldridge Industries, and Great Elm Capital Corp. This milestone will propel their mission to develop cutting-edge AI infrastructure at an unprecedented scale. Key highlights: 1. Over $12 billion raised in the last 12 months, including a $1.1 billion Series C in May 2024 and a $2.3 billion debt financing in August 2023. 2. New European HQ in London with a $1.25 billion investment in the region. 3. Expansion from 3 to 14 data centers in 2023, with plans to reach 28 by the end of 2024. 4. Strategic endorsements from major investors like Blackstone and Magnetar, highlighting CoreWeave's pivotal role in AI innovation. 5. Delivering high-power infrastructure tailored for top AI labs and enterprises, driving the next generation of AI technology. #AI #CloudComputing #Innovation #TechNews #CoreWeave #Funding #AIInfrastructure #DigitalTransformation #DataCenters #GlobalExpansion #FutureOfAI

Amid the noise and the naysayers surrounding Suno’s raise, I had an inspiring conversation with Shrey M. and Nagarjun Srinivasan from Lune Acoustics — two engineers turned entrepreneurs, that are doubling down on hardware in a software world. This morning, PitchBook’s newsletter pointed to their Q1 report on Artificial Intelligence and highlighted something quite relevant to this conversation: “Investors are scattering bets widely in the AI market, but only one category has been a reliable producer of exits for VC-backed companies…[hardware] The IPO of Astera Labs, which makes AI hardware for data centers, continued that trend in the first quarter with a towering revenue multiple. That debut followed last year's blockbuster IPO of semiconductor specialist Arm. And there's more to come: Chipmaker Cerebral last valued at $4 billion, is readying an IPO.” Lune is wise to the market. Their product is hard to explain if you haven’t tried it in person, so they’re currently setting up a studio in San Francisco where people can hangout and give their AI-infused amplifiers a test run. Silicon Valley will have a field day with this!! (And I can’t wait to visit!) Nag and Shrey are not your typical "tech bros"—they’re kind, down-to-earth, and funny. More importantly, they’re grounded in reality when it comes to cap tables and investment. In my opinion, they’re the type of tech guys that Silicon Valley (and the music industry) could use more of. But what struck me the most was their desire to double down on teacher and student learning in the classroom. They’re determined to help people feel less insecure while learning an instrument and that’s a noble mission. What other AI hardware companies are worth noting right now? What innovations are still needed? #AI #AIHardware #Hardware #Innovation #Entrepreneurs #MusicIndustry #MusicTech

Groq 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟔𝟒𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐚𝐭 $𝟐.𝟖 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 Groq is a semiconductor startup dedicated to radically simplifying computing to accelerate workloads in artificial intelligence, machine learning, and high-performance computing. At the heart of Groq’s innovation is the Language Processing Unit (LPU), a specialized chip designed to handle the demanding workloads of AI, ML, and HPC. Unlike traditional processors that rely on complex instruction sets and multi-threading, the LPU operates with a streamlined, single-threaded design that reduces overhead and maximizes performance. Groq has raised $640 million in a Series D funding round, increasing the company’s valuation to $2.8 billion. The new round was led by BlackRock Inc. funds and included backing from the investment arms of Cisco Systems Inc. and Samsung Electronics. Groq intends to use the fresh funding to produce approximately 108,000 language processing units, expand their workforce, and explore potential acquisitions. Groq, Mountain View, California, United States, was founded in 2016 by Jonathan Ross. In 2021, the company joined the unicorn club. In a world where speed and efficiency are paramount, Groq’s solutions are an essential part of the technological infrastructure.

SiMa.ai is thrilled to share our inclusion in the EE Times | Electronic Engineering Times Silicon 100 Startups Worth Watching in 2024! The Silicon 100 is a “meticulous examination of objective criteria” that evaluates fundraising activity, strategic partnerships and alliances, scalability, addressable markets and founding teams. We are honored to join such prestigious company in this year’s class. It is a true validation of our vision to deliver ONE platform for all edge AI. Download the full report at the link in the comments below. #AI #ML #GenAI #EdgeAI

#DMatrix raises $110M to commercialize next-gen generative #AI-processing chips: #DMatrix Corp., a startup that designs and builds high-efficiency silicon and generative #artificialintelligence compute platforms for data centers, today announced it has raised $110 million in an oversubscribed Series B funding round led by Singapore-based global investment firm Temasek. The company builds specialized chips and platforms that target the deployment of generative #AI at […] The post D-Matrix raises $110M to commercialize next-gen #generativeAI-processing chips appeared first on SiliconANGLE.