⚙️ Apple shift gears

Good morning. In a move that's raising eyebrows across the digital world, Tumblr and WordPress are reportedly following Reddit's lead, selling their data to AI powerhouses OpenAI and Midjourney

In today’s newsletter:

🏁 Apple's Project Titan Comes to a Halt: A Decade's Ambition Shifts from Electric Cars to Generative AI Focus

🖥️ GitHub announces the general availability of Copilot Enterprise, a robust AI coding assistant at $39 a month, designed to streamline development processes for large businesses by integrating with internal codebases.

💡 Glean aims to surpass ChatGPT with a tailored GenAI solution for enterprises, offering secure, personalized information access and driving significant growth with a recent $200 million funding boost.

🌟 Photoroom's latest $43M funding round, valuing the AI image editor at $500M, gears up to revolutionize online visual content creation, confirming its leadership in the competitive AI photo-editing landscape.

❓️ Misc:

Someone used AI to create fake ads for “Willy Wonka’s Chocolate Factory” and get the cops called on them (link)

Writer’s latest model can generate text from images, charts, and graphs. (link)

📊 Funding:

DeepX nears $90m in funding for their semiconductors (link)

💰Jobs in AI:

Lead Data Scientist, Generative AI: Caterpillar Inc. · Chicago, IL · Hybrid · Full-time (Apply here)


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🍏 Apple Shifts Gears: Project Titan Electric Car Dream Ends to Focus on Generative AI

Apple's journey towards creating an autonomous electric vehicle, dubbed Project Titan, has come to an unexpected end. The ambitious project, which has captivated tech and automotive industries alike, was officially terminated, redirecting focus towards the burgeoning field of generative AI.

Internal Shifts and Strategic Pivots 

The announcement, made internally by COO Jeff Williams and VP Kevin Lynch, signals a significant shift in Apple's strategic priorities. As the electric car project winds down, many of the team is set to transition to generative AI efforts, though this change might lead to some layoffs.

Overcoming Challenges 

Despite extensive testing and development, including over 45,000 miles of autonomous driving tech trials in 2023, Project Titan faced numerous hurdles. High turnover, changing objectives, and skepticism within the company contributed to the decision to halt the project.

Embracing Generative AI 

With the electric car dream set aside, Apple's focus sharpens on generative AI, a field ripe with potential. This pivot aligns with CEO Tim Cook's recent announcement of upcoming AI features, underscoring Apple's commitment to innovation in this rapidly evolving sector.


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GitHub Launches Copilot Enterprise to Revolutionize Coding for Big Teams 💼

GitHub has launched Copilot Enterprise, a comprehensive version of its AI coding tool, priced at $39 per month, catering to large businesses. This new offering includes all features from the Business plan plus the ability to integrate with a company's internal code and knowledge base, enhancing support for team-specific processes and coding practices. Additionally, Copilot Enterprise is integrated with Bing for up-to-date information retrieval and will soon enable model fine-tuning based on a team's codebase, promising a personalized and efficient coding assistant experience. GitHub CEO Thomas Dohmke highlights the tool's capability to facilitate developers' understanding of company-specific processes and the internal codebase, marking a significant step in AI-assisted development.

Revolutionizing Data Access: Glean's GenAI Solution for Enterprises 💡

Glean aims to revolutionize enterprise information retrieval by leveraging GenAI to connect with internal and external databases, answering employee queries in plain English. Founded by Rubrik co-founder Arvind Jain, Glean addresses the productivity challenges employees face in accessing needed information, a common issue highlighted by a Gartner survey. Evolving from cognitive search to a comprehensive AI-powered platform, Glean ensures secure and personalized data access, respecting organizational permissions. Despite GenAI's potential hallucination issues, Glean emphasizes privacy and customization and employs techniques like Retrieval-Augmented Generation for accurate, source-traceable answers. With a competitive subscription model, Glean has seen significant growth, challenging other enterprise and GenAI solutions, underscored by a substantial Series D funding round.

Photoroom Captures $43M, Valued at Half a Billion for AI-Powered Imagery 🌟

Photoroom, a Paris-based AI photo-editing app, has confirmed a $43 million funding round at a $500 million valuation. The app, known for aiding online business visuals and attracting casual users, processes 5 billion images annually and boasts 150 million downloads. Led by Balderton Capital, with participation from Aglaé and Y Combinator, this round brings Photoroom's total funding to $64 million. The company plans to double its 50-person team by year-end, focusing on developing its proprietary models for enhanced product photography. This investment underscores Photoroom's commitment to empowering businesses with high-quality photo editing without needing expert skills. Check it out below 👇️ 

Not so close 🥹 

Anybody else fancy a vacation?

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A meme before you go 👇

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*Past performance is not indicative of future returns. Investing involves risk. See Important disclosures atwww.masterworks.com/cd