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Radical Ventures raising new $550 million USD fund as AI sector heats up (BETAKIT)
Radical partner Aaron Brindle told BetaKit that a “significant majority” of the fund is already closed, but did not share a specific dollar amount.
Microsoft eyes $10 billion bet on ChatGPT (SEMAFOR)
The funding, which would also include other venture firms, would value OpenAI, the firm behind ChatGPT, at $29 billion, including the new investment, the people said. It’s unclear if the deal has been finalized but documents sent to prospective investors in recent weeks outlining its terms indicated a targeted close by the end of 2022.
Government of Canada reveals plans for $360 million National Quantum Strategy (BETAKIT)
According to the Government of Canada, NQS will focus on building on Canada’s strength in quantum research, growing the nation’s quantum-ready technologies, companies and talent, and solidifying the country’s global leadership in the space.
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Scale AI cuts 20% of its workforce (TECHCRUNCH)
The decision, which was announced by founder and CEO Alexandr Wang via a company blog post, was made after rapid hiring in 2021 and 2022 came crashing into present-day macroeconomic challenges.
Nanoprecise closes $13.4 million CAD Series B round for its manufacturing monitoring software (BETAKIT)
Nanoprecise’s round was led by Export Development Canada (EDC), with participation from several players in the manufacturing and industrial technology space, including Honeywell Ventures, NSK Ltd., and EC Mergers & Acquisitions. Nanoprecise noted all of the organizations that contributed in the funding are new investors.
ChatGPT Is Coming To A Customer Service Chatbot Near You (FORBES)
Meta, Canva, and Shopify among other companies are already using the technology that undergirds ChatGPT in their customer service chatbots, but experts warn that companies should be wary of generative AI’s creativity and unpredictability.
Interac’s CTO on how to hire for technical roles (BETAKIT)
Speaking with BetaKit, Henderson explained how he approaches technical hiring from a process perspective and his advice for other CTOs or heads of talent looking to recruit.
As venture capital declines, Canada risks losing an entire industry to the U.S. – again (THE GLOBE AND MAIL)
Thomas Park is the lead partner of the BDC Deep Tech Fund and co-founder of the Asian Canadian Ventures Collective. According to him, as investors pull back, Canadian deep tech startups could soon be starving for capital at a time when they – and Canada – need it most.
ReelData raises $10.6 million CAD using AI to monitor fish populations (BETAKIT)
According to ReelData, this investment will be allocated towards developing a precise and autonomous operating system to “unlock the future of land-based aquaculture and the sustainability advancements it promises.”
China, a pioneer in regulating algorithms, turns its focus to deepfakes (THE WALL STREET JOURNAL)
Beijing’s internet regulator, the Cyberspace Administration of China, will begin enforcing the regulation—on what it calls “deep synthesis” technology, including AI-powered image, audio and text-generation software—starting Tuesday, marking the world’s first comprehensive attempt by a major regulatory agency to curb one of the most explosive and controversial areas of AI advancement.
Nokia opens new Toronto office as part of broader Ontario-wide expansion (BETAKIT)
Located by Toronto’s waterfront at 100 Queens Quay East, the new Toronto location builds on Nokia’s previously announced plans to redevelop its existing 26-acre site in Kanata, Ottawa into a “world-leading, sustainable research and development hub.”
CNET Is Experimenting With an AI Assist. Here's Why (CNET)
In November, our CNET Money editorial team started trying out the tech to see if there's a pragmatic use case for an AI assist on basic explainers around financial services topics like What Is Compound Interest? and How to Cash a Check Without a Bank Account. So far we've published about 75 such articles.
University of Waterloo leading consortium for 5G innovation that includes Rogers, BlackBerry (BETAKIT)
Led by a team of computer scientists at UWaterloo, the three-year project includes membership from academic and industry partners, including École de technologie supérieure in Montréal, University of Regina, BlackBerry, NoviFlow, and Rockport Networks, with support from Rogers Communications Canada.