In today’s newsletter:

• News - 🚫 US Bans AI Big Tech $$ to China’s Military

• Productivity - 🎬 Turn Text to Video in Minutes? Meet Pictory AI!

• Culture - ✏️ California’s Big AI Push: Nvidia Deal Transforms Colleges

  Check out our Meme of the Day at the bottom of the newsletter for your daily dose of AI-powered humor!

🚫 US Bans AI Big Tech $$ to China’s Military

The Biden administration just dropped new regulations blocking U.S. investment and tech support in China's military-linked tech development, specifically targeting semiconductors, quantum computing, and AI. Set to take effect on January 2, these Treasury Department rules stem from Biden’s August 2023 executive order, aiming to prevent U.S. financing from boosting China’s capabilities in critical defense areas. U.S. firms can still invest in some public Chinese companies, but any private deals in restricted tech will require special reporting.

The regulations reflect a broader push to limit China’s access to U.S.-backed resources and talent, especially in areas key to military and cybersecurity advancements. Despite a notable drop in U.S. venture capital in China over recent years, the rules hit as Chinese funds still drive significant capital into AI projects. And with an election on the horizon, some experts suggest the regulations may get a reboot under a new administration, potentially leaning toward even tighter restrictions.

🗞️ In Other News…

• Meta is reportedly building its own AI-powered search database for its chatbot, aiming to reduce reliance on Google and Bing, with recent deals like one with Reuters for news articles supporting this shift.

• Alphabet, Meta, Microsoft, Amazon, and Apple are set to report earnings this week, spotlighting their hefty AI spending and the expected returns on these transformative investments.

• Billionaire Paul Tudor Jones sold 126,594 Palantir shares to boost his Nvidia stake by 853%, now holding 273,294 shares, betting big on Nvidia’s AI lead and its upcoming Blackwell chip launch.

• Iambic Therapeutics unveiled "Enchant," an AI model that significantly improves early-stage drug prediction accuracy, potentially halving development costs by addressing pharmacokinetics, efficacy, and toxicity, a breakthrough in AI-driven drug discovery.

• Salesforce launched Agentforce, a low/no-code AI platform for developing chatbots that automate tasks for employees and customers, emphasizing a collaborative human-bot approach and positioning itself as a competitor to Microsoft’s Copilot.

🎬 Turn Text to Video in Minutes? Meet Pictory AI!

Pictory AI is a powerful video creation tool that lets users transform text into dynamic videos in minutes. With features like script-to-video and article-to-video, Pictory makes it easy to upload or paste content from sources like blog posts or custom scripts and turn it into visually engaging clips. Users can edit scenes, add subtitles, include highlights, and even add custom branding elements like logos or intros, making it ideal for building professional-looking videos for social media, websites, or presentations.

This platform stands out with its broad range of assets—thanks to integrations with Getty Images—and customizable options, including AI-generated voiceovers, music tracks, and templates that fit different video formats like YouTube or TikTok. Although there are a few limitations, such as limited voice options and occasional mismatched visuals, Pictory offers flexible plans for various needs, allowing even beginners to quickly create polished video content.

✏️ California’s Big AI Push: Nvidia Deal Transforms Colleges

California is diving into AI education thanks to a new deal with Nvidia, set to boost AI courses and resources at community colleges, with future plans to extend to the Cal State and UC systems. From AI-powered tools for senior projects to ethics-focused programs, students are getting hands-on with real-world tech that major companies are using today. The goal? To prepare them for everything from blue-collar AI roles to advanced research opportunities.

Community colleges are leading the charge, offering new AI degrees and certifications, while four-year universities are setting up partnerships and clubs to keep up with booming industry demand. Students like Nathan Lim, a junior at Cal Poly San Luis Obispo, are already using AI to innovate in fields like music. AI is no longer just tech industry talk—it’s shaping the future of California’s workforce, one classroom at a time.

VC Fundraising Rounds

• Aignostics, a global AI company specializing in converting complex multi-modal pathology data into impactful insights, announced it has raised $34 million in Series B funding. (10/29/24)

• Reflexivity, an AI solutions provider for the investment industry, has raised $30 million in Series B funding. (10/29/24)

• EvoluteIQ, an AI-driven business automation platform based in Stockholm and London, has raised $20 million (around €18.5 million) through a mix of equity and debt funding. (10/29/24)

• Sierra, a software startup co-founded by former Salesforce co-CEO Bret Taylor, has secured $175 million in funding, bringing its valuation to $4.5 billion. (10/28/24)

• Interos, a leading provider of AI-driven supply chain risk intelligence, has received a $40 million strategic growth investment from Blue Owl Capital. (10/24/24)

Meme of the Day

Earn Free Rewards 🎁 

Get rewarded for helping others level up their AI game 👇️

25 referrals - 30 minute chat with Ben Chon, founder of rareliquid

1 referral - Daily VC AI Fundraising Tracker

You currently have 0 referrals.

Copy & paste this link: https://www.rarecandyai.com/subscribe?ref=PLACEHOLDER