PayPal Invests in AI, Lambda becomes Unicorn, & More
February 26, 2024

PayPal Invests in AI, Lambda becomes Unicorn, & More


Hi there! Welcome back to our weekly roundup of all things tech, featuring news on cloud computing, gaming, and other exciting developments.

Cloud Computing

AI Compute Startup Lambda Hits Unicorn Status with Massive $320M Raise

Lambda, a provider of cloud computing services and hardware for training AI software, has achieved a valuation of $1.5 billion after raising $320 million in a Series C funding round. The startup offers Nvidia's highly sought-after GPUs, which are crucial for AI developers. 

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Annual Report Highlights AI's Impact on Data Center Industry

AFCOM's State of the Data Center Industry report reveals how power design and AI demand have reshaped the industry. The report finds that AI is a significant driver in how facilities will be built moving forward, with large cloud providers accommodating AI's computing power needs, leading to a surge in demand for higher-density data centers. 

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Cloud Costs Continue to Rise in 2024

The trend of increasing cloud costs persists in 2024, extending the need for cost-cutting measures that intensified last year. According to U.S. government economic data and vendor research, cloud computing costs have been steadily rising since September 2022. 

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Artificial Intelligence

Lightning AI Partners with AWS for Optimized AI Product Development

Lightning AI, the creator of PyTorch Lightning and Lightning Studios, has signed a Strategic Collaboration Agreement with Amazon Web Services (AWS). This partnership allows Lightning AI to leverage AWS compute services to power generative AI services and provide first-class support for AWS Trainium accelerators within its platform, offering enterprises an optimized, cloud-based platform for building and deploying AI products. 

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The New York Times Plans Generative AI Advertising Tool

The New York Times is working on a generative AI advertising tool that it plans to debut next quarter. The tool aims to enable marketers to leverage generative AI responsibly. This move demonstrates the Times' belief that generative AI can be an effective enabler for their business when used appropriately. 

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PayPal Ventures Makes First AI Investment with Rasa

PayPal Ventures and StepStone Group led a $30 million investment in Rasa, a generative artificial intelligence company. The funding round marks PayPal's first investment in the AI industry and is part of PayPal Ventures' newly launched AI Fund aimed at pouring capital into early-stage AI startups across multiple sectors. 

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Nintendo 64 Emulator Inscribed on Bitcoin Blockchain

Following the success of inscribing a SNES emulator on the Bitcoin blockchain, the Ninjalerts team has now accomplished the same feat with a Nintendo 64 (N64) emulator. The N64 emulator is inscribed as Ordinal Inscription 61,648,429, allowing users with compatible game files to play N64 games in their browsers. 

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PIXEL Token Debuts with $441M Market Cap After Ronin Airdrop

The PIXEL token, the native token of the Ronin-based farming and social crypto game Pixels, launched on Binance with a $500 million market cap, quickly claiming a top 10 spot by market cap on the world's largest crypto exchange. The meteoric rise followed airdrop campaigns and a surprise token drop to Ronin token stakers. 

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Nintendo Unveils Upcoming Switch Game Lineup

Nintendo has announced a portion of its 2024 Switch game lineup through a Nintendo Direct broadcast. The 25-minute video highlighted upcoming Switch games from third-party partners, with most titles scheduled for release in the first half of 2024. 

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Bitcoin ETF Volumes Spike After Record Inflow Week

Following a record inflow week for crypto investment products, several US spot bitcoin ETFs saw all-time high trading volumes on Tuesday. The sustained demand for spot bitcoin ETFs has been "something to witness," according to Bitwise Chief Investment Officer Matt Hougan. 

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Yuga Labs Acquires PROOF Digital Art Platform

Yuga Labs, the Web3 lifestyle and media company behind Bored Ape Yacht Club and Otherside, has announced the acquisition of PROOF, a Web3 digital art platform. This move aligns with Yuga Labs' vision of becoming the gateway to Web3, as it plans to integrate PROOF's assets, including Moonbirds, into its expanding metaverse platform, Otherside. 

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Analyzing the Impact of Bitcoin's Upcoming Halving Event

With Bitcoin's per-block rewards for miners set to be reduced again in April, the crypto community is analyzing how the halving event could impact the cryptocurrency's price. While previous halvings have been followed by price surges, it remains to be seen whether the pattern will repeat this time. 

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And that wraps up this week’s DCI news. Stay tuned for more updates as we continue to keep our finger on the pulse of all things gaming, cloud, AI and Web3!

Until next week!

Team Aethir

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