Microsoft and Meta expand AI Partnership

Deals
Cerebras Systems signs USD 100 Mn AI supercomputer deal with UAE’s G42
Cerebras to deliver AI supercomputers, aiming to challenge Nvidia. G42 plans to use the systems for AI computing services in the healthcare and energy sectors. Read More>>
Newgen Software receives USD 373.6 Mn order
Newgen Software Technologies received a purchase order worth USD 373.6 Mn for implementing end-to-end trade finance, including a customer web portal and supply chain finance solution. Read More>>
transACT signs SCA agreement with Amazon Web Services
transACT Technology Solutions and Amazon Web Services signed a multi-year Strategic Collaboration Agreement, aiming to empower businesses worldwide with cloud migration and optimization solutions. Read More>>

Partnerships
Chillisoft strikes Qualys distie deal
Chillisoft partners with Qualys to enhance its cyber security portfolio, gaining access to Qualys’ solutions, demos, certified engineers, and local expertise. The collaboration supports Qualys’ global growth strategy and strengthens cyber risk management offerings. Read More>>
Brightcom Group partners with LoopMe’s Intelligent Marketplace
Brightcom Group partners with LoopMe’s AI-powered Intelligent Marketplace for a 40-fold DSP buying efficiency increase, optimizing inventory value, and transforming the programmatic ecosystem. Read More>>

Mergers and Acquisitions
SPS Commerce to acquire supply chain digitalization provider, TIE Kinetix, for USD 70.8 Mn
The acquisition aims to enhance SPS Commerce’s e-invoicing capabilities and expand its presence in Europe, catering to a growing network of trading partners and accessing international markets. Read More>>
Databricks acquires generative AI platform MosaicML
Databricks acquires MosaicML, aiming to offer its customers a secure and top-notch generative AI platform. The platform will allow users to build and deploy customized LLMs using their own data. The acquisition enables seamless training of custom models on the Databricks Lakehouse Platform. Read More>>

Partnerships
Swiggy partners with WhizCo for in-app influencer activations
The move will empower 200 creators monthly to produce enticing food reviews. Together, they aim to elevate partner restaurants’ visibility, while introducing Swiggy’s new feature showcasing short food review videos to boost sales and enhance user experience. Read More>>
EBANX and Nubank partner to launch NuPay
EBANX and Nubank collaborated to launch Nubank’s new digital payment platform, NuPay, in Latin America. The partnership aims to provide enhanced financial services and convenience to customers in the region. Read More>>
Microsoft and Meta expand AI Partnership
Microsoft and Meta announced an expanded AI partnership, supporting Llama 2 language models on Azure and Windows. This collaboration aims to democratize AI and empower developers to build generative AI-powered experiences on Azure with Meta’s Llama 2 models. Read More>>

Executive Movements
888, owner of William Hill hires new boss after tumultuous search
William Hill appointed Per Widerstrom as CEO, bringing his 17 years of online gaming industry experience to lead the company from October 16, following previous leadership challenges and money laundering investigations. Read More>>
Oportun names Kate Layton as Chief Legal Officer
Oportun promotes Kate Layton to Chief Legal Officer, succeeding Joan Aristei, who served for over nine years. Layton’s extensive experience includes roles at ServiceNow, Simpson Thacher & Bartlett LLP, and McDermott Will & Emery LLP. She will report to CEO Raul Vazquez and continue supporting Oportun’s mission-driven fintech platform. Read More>>

Layoff
Dunzo formally announces fresh round of Job Cuts
Dunzo laid off 150-200 employees due to cash flow issues, marking the third round of job cuts in 8 months. Pending salaries will be paid in September as it aims to cut costs by 30-40%. Read More>>

Product Launch
Smilegate has launched a social video platform for online meetings, P.Pool
Smilegate has launched a new service called P.Pool in open beta testing. It is a social video platform for online meetings that is available on both PC and mobile devices with iOS and Android devices. Read More>>
Xiaohongshu releases new feature of AIGC
Xiaohongshu launched a new feature called “Moment,” which allows users to publish text-only notes. This new feature supports the publication of pure text content. Through this Moment function, users can use AI-generated images provided by the platform as illustrations for their notes. Read More>>

Edge Computing

• Edge computing brings computing resources closer to the data source, reducing latency and enabling real-time processing and analysis 
• Cloud providers are extending their services to the edge, offering edge computing capabilities and enabling organizations to leverage cloud services at the edge of the network 

• Serverless computing, also known as Function-as-a-Service (FaaS), allows developers to focus on writing and deploying code without the need to manage infrastructure 
• Cloud providers offer serverless computing platforms, enabling organizations to run functions in a highly scalable and cost-efficient manner

Hybrid and Multi-Cloud Environments

• Organizations are increasingly adopting hybrid and multi-cloud strategies, combining public cloud services with private cloud infrastructure, and leveraging multiple cloud providers, driven by the need for flexibility, cost optimization, and avoiding vendor lock-in 
• As a result, cloud providers are developing solutions to facilitate seamless integration and management across different cloud environments.

Braindesk Report Link

Key Funding Alert

SAP invests in Aleph Alpha, Anthropic, and Cohere to advance the vision of Business AI
These investments reinforce SAP’s open ecosystem approach to AI, integrating the best technology across the SAP portfolio. The move builds on previous AI partnerships and use cases announced in May, as well as a USD 1+ billion commitment to invest in AI-powered enterprise tech startups through Sapphire Ventures LLC. Read More>>

Startup Spotlight

Company – IP Fabric
Total Funding – USD 30.51 Mn
About: Automated Networks Assurance Platform fully maps complete network infrastructure, providing hyper-converged visibility and a single point of truth for global networks, providing advanced visualization for troubleshooting issues, and simulates network behavior to infer deviation from policy or infer risks that could cause an outage in the future. Read More>>

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