Chicago-based artificial intelligence company Cognida.ai recently announced the successful completion of a $15 million Series A funding round, led by Nexus Venture Partners. This funding will help enterprises move beyond the AI pilot phase and achieve production-level solutions, delivering measurable business impact. Image credit: Image generated by AI, licensed from Midjourney. Currently, businesses are transitioning AI experiments into actionable solutions.

Nvidia has once again demonstrated its ambition in the field of artificial intelligence. The GPU giant has acquired the Seattle-based startup OctoAI for $250 million, marking Nvidia's fifth acquisition of 2024 and a strategic move to solidify its leadership in the AI infrastructure sector. Founded in 2019 and originating from the Apache TVM project at the University of Washington, OctoAI focuses on optimizing AI model performance. Under the leadership of CEO Luis Ceze, the company has successfully transformed AI...

London-based AI startup Rabbitt.AI has secured $2.1 million in funding from TC Group to develop customized LLMs, fine-tune RAG, and create advanced AI applications for deployment. Its platform offers MLOps suites, voice robot AI agents, and emphasizes privacy strategies in AI deployment. Founded by IIT-D alumni, Rabbitt.AI focuses on small, customized, and industry-specific AI models, collaborating with major tech companies like NVIDIA, Meta, and Microsoft. The company has a significant presence in India.

32% of organizations are using generative artificial intelligence in enterprise applications. 60% of organizations are most concerned about the security issues of generative AI. 58% of organizations mainly adopt OpenAI's GPT-4 large language model. Survey data shows that 75% of organizations are currently using large language models.

UK startup HarmonicSecurity successfully raised $7 million in funding, aimed at ensuring the security of enterprise generative AI deployments. Harmonic will develop software to address the issue of unregulated AI applications collecting large-scale corporate data. The investment was led by Ten Eleven Ventures, as startups increasingly focus on the security of generative AI deployments.

Modular has raised a total of $130 million, with $100 million secured in this round. Modular aims to simplify AI deployment with products like its modular AI runtime engine. The company has also developed the AI programming language Mojo, designed to address the limitations of Python in large-scale AI.