Google Brain co-founder raises $175 million fund for AI startups

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Ng announced Tuesday that he raised money from venture capital firms New Enterprise Associates, Sequoia Capital and Greylock Partners as well as SoftBank Group Corp. Under Ng, Baidu released a voice-based operating system that users can talk to - much like Amazon's Alexa voice assistant or Apple's Siri - and also started working on self-driving cars and face recognition technology to open things like transit turnstiles when users approach. I think it's a more systematic, repeatable process than most people think," said Ng, who also taught artificial intelligence courses at Stanford University. The first company to receive money from the fund will be Landing.ai,


World's Biggest AI Startup Raises $1.2 Billion in Mere Months

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SenseTime Group has raised $620 million at a valuation of more than $4.5 billion just months after scoring a similar amount from investors led by Alibaba (baba) and Singapore's state investment firm. Fidelity International and Silver Lake Partners were among the investors in the latest financing, bringing the total amount raised by the three-year-old image recognition startup in the past six months to more than $1.2 billion and tripling its valuation in under a year. Tiger Capital, Qualcomm Ventures and Hopu Capital also participated. The latest funding will go toward research and talent acquisition, SenseTime said in a statement Thursday. Investors are handing billions of dollars to Chinese artificial intelligence startups, hoping to ride a wave of support from a government intent on becoming the world leader in the technology by 2030.


Face-recognition start-up Megvii said to raise $100 million

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Hong Kong/Beijing: Megvii Inc., a Chinese developer of facial-recognition technology, has raised at least $100 million from investors including Foxconn Technology Group and CCB International Holdings Ltd, according to people with direct knowledge of the matter. The owner of Face is still in talks with other investors for more funding, the people said, asking not to be named because the matter is private. Megvii confirmed it's raising funds while declining to comment on the specific amount. It plans to work with investors to improve facial recognition technology, especially in the financial industry, smart cities and robotics, the company said in an e-mailed statement. Megvii provides face-scanning systems to Ant Financial, which operates the dominant payments service on Alibaba Group Holding Ltd's online shopping platforms.


Intel Completes Tender Offer for Mobileye Intel Newsroom

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SANTA CLARA, Calif., and JERUSALEM, Aug. 8, 2017 -- Intel Corporation (NASDAQ: INTC) and Mobileye N.V. (NYSE: MBLY) today announced the completion of Intel's tender offer for outstanding ordinary shares of Mobileye, a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving. The acquisition is expected to accelerate innovation for the automotive industry and positions Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles. The combination of Intel and Mobileye will allow Mobileye's leading computer vision expertise (the "eyes") to complement Intel's high-performance computing and connectivity expertise (the "brains") to create automated driving solutions from cloud to car. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030. "With Mobileye, Intel emerges as a leader in creating the technology foundation that the automotive industry needs for an autonomous future," said Intel CEO Brian Krzanich.


AnyVision AI startup locks in $28M for its body and facial recognition tech

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As image recognition advances continue to accelerate, startups with a mind towards security applications are seeing some major interest to turn surveillance systems more intelligent. AnyVision is working on face, body and object recognition tech and the underlying system infrastructure to help companies deploy smart cameras for various purposes. "It's not just how accurate the system is, it's also how much it scales," Etshtein tells TechCrunch. "You can put more than 20 concurrent full HD camera streams on a single GPU." The Tel Aviv-based AI startup announced today that it has closed a $28 million Series A funding round led by Bosch.