🕶️ Senate's $32B AI gamble: will It pay off?

Six bullets of updates

1. 🌀 OpenAI co-founder Ilya Sutskever and his project co-lead, Jan Leike, resign amid company's internal shakeup.

2. 🤖 Claude, Anthropic's AI chatbot now available in Europe, impresses with human-like interaction and multi-language support.

3. 🚚 Swedish startup Einride is partnering with Jebel Ali Port in Dubai to build the world's largest autonomous trucking network, set to span 550km across the UAE.

4. 📺 Netflix unveils its in-house advertising technology platform to enhance ad targeting and delivery.

5. 🚀 GV's youngest partner launches her own venture firm, aiming to invest in early-stage startups.

6. 🌟 Anthropic hires Instagram co-founder as Head of Product to drive innovation in AI development.

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U.S. senate proposes major AI funding boost

A Senate study has recommended that the U.S. government invest at least $32 billion annually in AI programs. This funding would support extensive AI research and development, including the expansion of the National AI Research Resource and improvements in AI hardware and software. The proposal also aims to modernize federal IT infrastructure and enhance AI readiness in cybersecurity and national security.

The substantial investment is intended to ensure the U.S. maintains a competitive edge in AI technology. However, the passage of such legislation could face challenges, particularly during an election year, making it uncertain whether these recommendations will be implemented soon. Read more!

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Startup Events and Deadlines

1. Financial Modeling Course | May 20 - 24 | Bootcamp

2. Propel24 | May 21 | Conference

3. How to close a Funding Round (it’s not just the pitch deck) | June 4 | Webinar

4. SaaStr Europa (London) | June 6 | Conference

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These companies just raised money

1. 🌊 WekaIO pulls in $140M in funding, riding the AI wave to bolster data platforms.

2. 📊 Analytics secures €4mn to train AI to predict floods and landslides with surprising accuracy - a game changer for insurers.

3. ⚡ Vienna-based Enspired scores €25.5M in Series B, promising to electrify the energy storage market by increasing battery owners' revenues by 60%.

4. 🌱 Berlin-based Trawa raises €10M to leverage AI in simplifying renewable energy purchasing for SMEs.

5. 🛒 Colombian AI-powered SaaS Celes pockets $3M to optimize inventory for retailers, with eyes on expanding across Latin America.

6. 📡 Brazilian telecom startup Salvy bags $1.9M in a seed extension round to boost its IT platform and client acquisition.

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Seven VC organizations unite to enhance diversity data practices

Seven venture capital and startup organizations focused on diversity have formed the Diversity Data Alliance to standardize data collection and sharing practices. This initiative aims to enhance transparency in tracking funding allocations, especially for marginalized founders who typically receive minimal venture funding. The Alliance will develop a framework for gathering information on founders and funders, centralize data to better understand funding trends, and create privacy and security measures.

The effort seeks to increase capital allocation to underrepresented founders by producing reports with centralized data. The organizations involved include All Raise, Diversity VC, BLCK VC, StartOut, 2Gether-International, Vets in Tech, and Somos VC. By unifying data collection practices, the Alliance hopes to drive more transparency and enable powerful storytelling about the characteristics of successful venture capitalists and emerging industry leaders.

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The PAINFUL road from Pitch Deck to Funding $

Whether you're in the early stages or gearing up for a seed round, this video is packed with valuable advice from a venture-backed founder who's been through it all, not once but twice 😎 Remember to SUBSCRIBE!