Visa launches $100M for AI startups

Adobe Firefly launches more powerful AI features, Google iterates on Search AI

Author

Tara Tan
October 19, 2023

My heart goes out to all the civilian lives lost in the humanitarian crisis happening in Israel and Palestine over the past few days. Hoping for peace. We will be taking a pause from the editor’s note this week. — Tara

🔥 Latest news

Adobe’s Generative Match feature lets you create images using a reference style.

  • Adobe’s Generative Match lets you create images in a particular style. Firefly’s generative AI will produce imagery that combines both your text prompt and your reference image. If your reference image shows a cat in a whimsical cartoon style, the bear in your new image will sport the same look. https://tinyurl.com/2ehar2tf

  • OpenAI’s revenue crossed $1.3B annualized rate. This implies the company is generating more than $100 million per month, up 30% from this summer, when the Microsoft-backed startup generated revenue at a $1B-a-year pace. The revenue pace, largely from subscriptions to its conversational chatbot, represents remarkable growth since the company launched a paid version of ChatGPT in February. For all of last year, the company’s revenue was just $28M. https://tinyurl.com/3b2nde9v 

  • Google is iterating on Search AI. Google is adding new features in Search Generative Experience (SGE), its version of AI in Google Search that allows users to generate images and write their first draft right inside Google Search. https://tinyurl.com/384t6k2w 

     

  • Microsoft closes $68.7B acquisition of Activision Blizzard. It's been a long road for the Xbox maker to get here, beginning with the announcement of the deal in Jan 2022. Microsoft dueled with regulators, made promises about Call of Duty and licensed cloud gaming content, but the deal has closed in spite of the Federal Trade Commission's continued reservations.This is the largest acquisition ever for Microsoft and the gaming industry. Microsoft is paying Activision Blizzard a healthy $95 per share. https://tinyurl.com/4krpfn2k 

  • Visa launches $100M fund for Generative AI startups. https://tinyurl.com/bd6phy6c

  • ByteDance’s video editor CapCut targets businesses with AI ad scripts and AI-generated presenters. Known for its easy-to-use templates, tight integration with TikTok, and rapid adoption of AI effects and filters, CapCut has been a top consumer video editing app. The company will now bring its set of tools to advertisers and creators with the introduction of CapCut for Business. This business-focused extension of the CapCut platform prioritizes tools that help marketers, brands, small businesses, and creators generate ads and branded content. https://tcrn.ch/46xRzSL 

🔧 Cool Tools and Experiments

  • Chatbot platform Character AI introduces group chat feature that enables users and their friends to chat with multiple AI characters at once https://tcrn.ch/45sJ5uN 

  • AI-powered video editing startup Captions introduced Lipdub: An app that translates videos into 28 languages https://tinyurl.com/yeyyvahf 

  • Eleven Labs collaborates with Pictory AI to bring 51 new hyper-realistic AI voices to elevate video content https://tinyurl.com/4s53nvw7 

  • Generated on Masterpiece X by @neilda

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