What I've Read This Week | Issue #6
Perplexity raised $250M, Tesla Model 3 demand surge, quick skim reads and what else caught my eye this week.
Perplexity is raising $250M+ at a $2.5B-$3B valuation for its AI search platform, sources say → Raised $64M at $1B
If you haven’t heard of Perplexity.AI then either you have been living under a rock or you just don’t care much about AI (it will make your life 10x better). Perplexity.AI is answer search engine, or some say the next Google. They just launched this week their enterprise plan for companies as well – Perplexity has launched "Enterprise Pro," a new B2B service designed to enhance workplace efficiency and decision-making through advanced AI search capabilities. Following its Series B funding, Perplexity has raised an additional $62.7 million, partnering with major firms like SoftBank and Deutsche Telekom to expand globally. The service offers increased data privacy, enhanced security, and user management tools, aiming to transform business operations significantly. This expansion and introduction of new features mark a significant step in their mission to improve access to information and streamline workflows.
Tesla Model 3 Performance: To Increase Demand
Tesla has launched a new Performance variant of its Model 3 sedan, starting at $52,990. This model features enhancements such as a new active damping system and adaptive suspension, a 296-mile battery range, and accelerates from 0 to 60 mph in 2.9 seconds. It boasts 510 horsepower, 32% more peak power, and 16% more peak torque with 5% less drag than its predecessor. This update includes a new-generation drive unit, aesthetic facelifts, and improved interior features. This launch follows a challenging quarter for Tesla with significant layoffs and a drop in deliveries.
Quick Skim
Amazon wants to host companies’ custom generative AI models (TechCrunch)
5 under-the-radar tech companies to target (TopTechNewsletter)
Nvidia announces $700 million acquisition of Run:ai (CATech)
Quick Thoughts:
Eniac Ventures' ability to raise $220 million across two funds despite the challenging fundraising environment is a testament to the firm's successful track record of returns and its mission-driven approach. The sector-agnostic fund's focus on AI and machine learning, as well as its average check size of $1.5 million for new investments, suggests that Eniac is well-positioned to continue backing innovative startups in various industries.
The FCC is going to be reinstating rules that ensure the open internet remains just that - open. The new regulations, will take effect immediately, prevent broadband providers like AT&T and Verizon from playing favorites with websites and apps. The restored net neutrality rules effectively ban broadband providers from engaging in practices that stifle competition or favor business partners over others. While it's been nearly seven years since the original repeal, several states took matters into their own hands and implemented their own net-neutrality measures before 2015 - a move that has remained in place ever since.