• Beyond Banks
  • Posts
  • Greylock's new $1B fund supporting AI-First Companies

Greylock's new $1B fund supporting AI-First Companies

Plus New York Times vs. OpenAI and Microsoft Court Case

Greylock Partners, renowned for its history of successful partnerships from startup to IPO, has launched Greylock 17, a $1 billion fund. This fund is strategically focused on early-stage investments in enterprise and consumer software, particularly targeting Pre-Seed, Seed, and Series A founders.

Greylock Edge, a novel program designed to propel founders from mere ideas to early revenue and product-market fit. This initiative offers unique resources and Greylock’s deep expertise to help founders navigate crucial early stages. The program promises direct partnership with founders, offering flexible financing and access to essential resources like early customers, design partners, and team recruitment.

Greylock's legacy, illustrated by its partnerships with industry giants like Airbnb, LinkedIn, and Workday, and more recent collaborations with AI leaders like Abnormal Security and Adept, positions Greylock 17 as a promising venture for investors seeking to be part of the next tech wave. Their commitment to AI investment, spanning a decade, resonates with the growing trend of every company becoming an AI company.

The New York Times Sues Microsoft & OpenAI for Copyright Infringement

The lawsuit accuses Microsoft and OpenAI of using The New York Times' copyrighted material to train their artificial intelligence models without permission, allegedly infringing on its copyright.

The New York Times cites economic hardship from declining revenues as one reason for filing the lawsuit. The publication believes that tech giants must compensate original content creators adequately.

The case underlines a significant point of contention between media companies and tech firms over content used in machine learning and could set a precedent.

Headlines You Don’t Want to Miss

Baidu Triumphs Over OpenAI in the First AI Coding Faceoff The contest showed that AI systems can be substantial contributors to coding and software development processes. Both OpenAI's coder and Baidu's coder exhibited high levels of proficiency in the contest, but Baidu's AI eventually came out top in the competition. The competition represents an important step in fostering AI technology and the potential it holds in software development.

AI Revolution in Entertainment: PhiliaDX's New AI-Powered 3D Content Creation Showcased at Content Tokyo 2023 PhiliaDX, a Korean AI company, unveiled deep learning-based content creation solutions during the Content Tokyo 2023 exposition. The AI technology can scan and analyze 2D drawings and create detailed, fully-rendered immersive 3D models, which could revolutionize content creation for entertainment media. The software offers improved efficiency for creators, allowing them to reduce time spent on tasks and focus on their creative process.

HD Hyundai partners with Google Cloud to undertake AI research and innovation The goal of the partnership is to develop AI-based smart factories to push the boundaries of innovation in the industrial sector. The partnership will leverage Google Cloud's cutting-edge AI and other advanced technologies in the manufacturing, logistics, and construction sectors. Model tests have confirmed strong performance and feasibility of the partnership’s technology, promising to deliver value across a wide spectrum of industries.

ARM's Stock Triumph: Hitting All-Time High and Surpassing 2023 IPO Peers ARM's shares have reached unprecedented levels, exceeding its IPO peers' performance in 2023. The company's success can be attributed to the prolific demand for semiconductors due to economic dynamics, and ARM's design prowess in energy-efficient processors. The robust performance of ARM's stock signifies positive investor confidence in the semiconductor industry's potential.

Enhanced business operations are just an AI away.

But why do businesses fail to use AI effectively?

Because they do not know how to customize AI features according to their own needs and goals.

Not many people have been making use of OpenAI Assistants and using chat completions. There are a lot of unique use cases only possible with the assistants API and I would like to share the process how you make one them.

This video explains the role of an OpenAI Assistant powered by GPT, comparing it to the GPT itself.

This part will be particularly useful in understanding how such customized assistants can help in web browsing, code interpretation, and user interaction – key aspects for automating and improving efficiency in your business.

Get Free Access to our Cobalt Modern Underwriter GPT

Get Free Access to our Alternative Funding Expert GPT

Get Free Access to our AI Credit Risk Tool

Create an account to Get Free Access to our Secretary of State AI Tool

Subscribe on our YouTube Channel here

See us on LinkedIn