<div>
  <ul>
    <li>
      <p>
        Rivian Automotive, an American EV manufacturer, plans to raise USD 1.3 billion through the sale of green convertible notes. The company intends to use these funds to develop and launch its R2 EVs, which are expected to be ready by 2026.
      </p>
    </li>
    <li>
      <p>
        The issuance and the sale of the notes are scheduled to be settled on 10th March 2023 and are subject to customary closing conditions. The notes will accrue interest at a rate of 4.625% per annum, payable semi-annually in arrears in March and September, beginning in September 2023. Following this, the notes will mature on 15th March 2029. Rivian will be settling conversions through Class A common stock or a combination of cash and stock.&nbsp;
      </p>
    </li>
    <li>
      <p>
        Following this announcement, Rivian&rsquo;s stock dropped 7.5%. 
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.reuters.com/markets/rates-bonds/rivian-plans-sell-13-bln-bonds-shore-up-capital-shares-fall-2023-03-07/">
      Reuters
    </a>
  </p>
  <p>
    <a href="https://www.benzinga.com/pressreleases/23/03/b31252220/rivian-automotive-inc-prices-1-3-billion-green-convertible-senior-notes-offering">
      Benzinga
    </a>
  </p>
  <p>
  </p>
</div>


EV Economy

Rivian plans to raise USD 1.3 billion through convertible notes

Exploring the limitless possibilities of AI

Generative AI Applications

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 <p>OpenAI has entered into a strategic partnership and license agreement with news publisher Financial Times (FT). This collaboration aims to improve ChatGPT by incorporating FT journalism, to enhance its attributed content and usefulness. Apart from these enhancements, the partnership will also work on developing new AI products and features for FT readers. ChatGPT users will now have access to selected summaries, quotes, and links from FT in response to related queries.&nbsp;</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership recognizes the importance of compensating publishers for using their content to enable transparency. Last month, OpenAI formed strategic <a href="https:<br>
//sp-edge.com/updates/27567"> partnerships </a> with French newspaper Le Monde and Spanish media company Prisa Media to access news content through ChatGPT. OpenAI has also made deals with other news organizations to license content to train AI models, including Axel Springer, Politico, and European publications Bild and Welt and The Associated Press.</p>

OpenAI partners with Financial Times to improve models and incorporate news content into ChatGPT

Foundation Models

<div>

<p>OpenAI has made public its strategic partnership with Financial Times (FT) with an associated licensing agreement. The partnership is directed towards enhancing ChatGPT using attributed content.</p> 
<p>The move is aimed at improving the models’ utility by integrating FT's journalism. The two organizations will work together on developing new AI products and features aimed at benefiting FT readers. The collaboration will enable ChatGPT users to access selected attributed summaries, quotes and links to FT's journalism, focusing on providing information relevant to user queries.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership recognizes the importance of compensating publishers for using their content to enable transparency. Last month, OpenAI formed strategic <a href="https:<br>
//sp-edge.com/updates/27567"> partnerships </a> with French newspaper Le Monde and Spanish media company Prisa Media to access news content through ChatGPT. OpenAI has also made deals with other news organizations to license content to train AI models, including Axel Springer, Politico, and European publications Bild and Welt and The Associated Press.</p>

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

INCUMBENTS_PRESENT

<div>
 
 <p>AI startup Cohere, based in Toronto, has established a partnership with Amazon to integrate Command R+ and Command R into Amazon's cloud platform, Bedrock. These models are crafted for extensive context assignments such as advanced retrieval-augmented generation (RAG) with citations to reduce hallucinations and multi-step tool use to automate intricate business activities and worldwide business operations. Furthermore, these models offer multilingual support in 10 languages.</p>
 
</div>

Cohere partners with Amazon to incorporate Command R+ and Command R to Amazon Bedrock

<div>
 
 <p>Cohere, a Toronto-based AI startup, has formed a partnership with Amazon to integrate Command R+ and Command R into Bedrock, Amazon's cloud platform. These models are developed for complex tasks such as advanced retrieval-augmented generation (RAG) with citation support to lessen hallucinations, utilisation of multi-step tools for automating intricate business tasks, and worldwide business operations management. Additionally, these models support multiple languages, specifically ten languages.</p> 

</div> <p><b>Analyst QuickTake:<br>
</b> Cohere released a <a href="https:<br>
//sp-edge.com/updates/27502"> Command R </a> model last month and a <a href="https:<br>
//sp-edge.com/updates/28198"> Command R+ </a> model earlier this month targeting enterprise applications. Cohere has been particularly active this month with several other releases, including the launch of a private beta for embedding the model, <a href="https:<br>
//sp-edge.com/updates/28509"> Cohere Compass </a> , the <a href="https:<br>
//sp-edge.com/updates/28463"> Rerank 3 </a> model for enterprise search and retrieval, and a <a href="https:<br>
//sp-edge.com/updates/28789"> developer toolkit </a> to build AI applications faster.</p>

<div>
<p>A group of visual artists, including Photographer Jingna Zhang and cartoonists Sarah Andersen, Hope Larson, and Jessica Fink, have filed a lawsuit in a California federal court against Google. The group accuses Google of unlawfully using their copyrighted images for training Google's image generator, Imagen, to respond to human text prompts. They allege that billions of copyrighted images, including their own, were used by Google without permission.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The artists Zhang and Andersen are amid another similar case against Stability AI and Midjourney, among others, for allegedly misusing their work in training AI image generators. It is claimed that Google used one of the same datasets for training Imagen, which was used by Stability AI and Midjourney for their systems.</p>

US Artists sue Google over infringement of copyrighted work

Making banking work, without the paperwork

Neobanks

<div>
 
 <p>UK-based online SME lender, Capify, has been granted a GBP 100 million credit facility from Pollen Street Capital. This funding will enable Capify's strategies for growth and cater to the company's working capital lending for SMEs in the UK and Australia.</p>
 <p>The lender, established in 2002, is also improving its tech platform to enhance processes and quicken decision-making. Capify is a provider of unsecured business loans to SMEs in the UK, US, and Australia, with a unique approach ensuring all loan decisions are human-made.</p>
 
</div>

Capify secures GBP 100 million credit facility funding for growth

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

<div>
 
 <p>Web3 video game developer and publisher, Games for a Living (GFAL), has raised USD 3.2 million in seed funding. The funding round was led by Supercell Ltd and Mitch Lasky from Benchmark. With this round, GFAL's total funding has reached USD 8.9 million, raising its fully diluted valuation to USD 254.7 million. </p>
 <p>The funds are intended to boost the strength of GFAL's core team and speed up the development of future video game projects.&nbsp;</p>
 <p>GFAL, established in 2021, aims to create immersive and innovative games that provide limitless entertainment. The company witnessed its gaming community expand and successfully soft-launched a mobile game called Elemental Raiders in March 2023.</p>
 
</div>

GFAL raises USD 3.2 million in seed funding for recruitment and product development

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>
<p>PsiQuantum, a quantum hardware company based in California, has received AUD 940 million (USD 620 million) from the Australian Commonwealth and Queensland Governments, with an equal contribution from each. The Australian Government also awarded AUD 18.4 million (USD 12.0 million) to the University of Sydney (UoS).</p>
<p>The funding for PsiQuantum, which is a combination of equity, grants, and loans, will be used to develop the first utility-scale, fault-tolerant quantum computer in Australia. The computer will be situated near Brisbane Airport and is anticipated to be operational by the end of 2027.</p>
<p>The funds given to the UoS will be used to set up a new national quantum center named Quantum Australia. Its goal is to unify industry participants, academic experts, and research institutions to bolster Australia's quantum ecosystem.</p>
<p>The Australian government's financing is a part of its “Future Made in Australia” initiative.</p>
</div>

Australia invests nearly AUD 1 billion in PsiQuantum and University of Sydney

Giving creators the power of content monetization and audience engagement.

Creator Economy

<div>
 <p>Meta is trialling a bonus program for creators on Threads, its text-only social media app. This exclusive program offers creators a chance to monetise their content if it achieves a certain number of views. Threads is targeted specifically to encourage user interaction and content creation. To comply with the program, creators' posts must be viewed at least 2,500 times according to Meta's guidelines. The initiative may also be widened to include Meta's Instagram users who have amassed a large following, to enhance user interaction and activity on Threads.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Meta's pilot of an invitation-only bonus program for creators on Threads represents a strategic move to incentivize creators through bonuses. It seeks to attract high-quality content and encourage creators to remain active on Threads. The initiative aligns with Meta's broader product strategy to expand its presence in the Creator Economy space and strengthen its platforms as hubs for content creation and community interaction.</p>

Meta tests bonus program for creators on Threads platform

Incorporating technology to improve efficiency and success rate of clinical trials

Clinical Trial Technology

<div>

 <p>Klineo, a company specializing in patient recruitment for clinical trials, has secured EUR 2 million (USD 2.1 million) in a recent investment round. The round was spearheaded by BPI France and supported by multiple individual investors.</p>
 <p>The raised capital will be utilized to extend the company's operations and development, particularly by extending its coverage to include rare and neurological diseases, as well as diverse types of cancer, including lung cancer. The overarching aim is to cover all cancer types by the end of 2024. Additional planned uses for the funds include broadening Klineo's business reach across Europe and the US and growing the team.</p>
 <p>Based in France, Klineo offers an AI-based tool designed to simplify the process of patient recruitment for oncology-related clinical trials. Its platform connects patients and doctors with appropriate France-based clinical trials for treating skin cancer, breast cancer, and lymphoma. As of April 2024, Klineo's platform is in compliance with the General Data Protection Regulation (GDPR) and it hosts user health data on Health Data Hosts ISO-certified by the French Ministry of Health. Their work is supported by significant pharmaceutical providers and research organizations, such as Pfizer, AstraZeneca, and Lysarc.</p>
 
</div>

All Updates

OpenAI partners with Financial Times to improve models and incorporate news content into ChatGPT

OpenAI partners with Financial Times to improve models and incorporate news content into ChatGPT

Cohere partners with Amazon to incorporate Command R+ and Command R to Amazon Bedrock

Cohere partners with Amazon to incorporate Command R+ and Command R to Amazon Bedrock

US Artists sue Google over infringement of copyrighted work

Capify secures GBP 100 million credit facility funding for growth

GFAL raises USD 3.2 million in seed funding for recruitment and product development

Australia invests nearly AUD 1 billion in PsiQuantum and University of Sydney

Meta tests bonus program for creators on Threads platform

Klineo raises EUR 2 million in funding to expand the company's operations and development