Benchmark Capital raised $225 million in special funds to invest in AI chipmaker Cerebras Systems, which recently secured $1 billion in fresh capital at a $23 billion valuation, according to TechCrunch. The investment from Benchmark, a prominent Silicon Valley firm, was part of Cerebras' latest funding round, representing a nearly threefold increase from its $8.1 billion valuation just six months prior.
Benchmark's initial investment in Cerebras dates back to its lead in the startup's $27 million Series A in 2016, according to TechCrunch. To accommodate its investment, Benchmark created two separate vehicles, both named Benchmark Infrastructure, due to the firm's policy of keeping its funds under $450 million, as revealed in regulatory filings.
In other news, the tech world is abuzz with a planned "March for Billionaires" in San Francisco, organized in protest of California's proposed wealth tax, according to TechCrunch. The event, which is scheduled for this coming Saturday, was initially met with skepticism, with many assuming it was a hoax. The organizer's website, which appeared online, provided little context other than the tagline: "Vilifying billionaires is popular. Losing them is expensive."
Meanwhile, HBO's financial thriller "Industry" is capturing the complexities of tech fraud in its current season, according to TechCrunch. The show features a storyline centered around a fraudulent fintech company called Tender, where Harper Stern leads an investigation. The investigation reveals that the company is built on fabricated numbers, according to Sweetpea, a character in the show.
Apple is also exploring the integration of AI chatbots like ChatGPT into CarPlay, according to Bloomberg, as reported by TechCrunch. This move would allow CarPlay users to interact with AI chatbots through their vehicles' infotainment systems, potentially expanding the functionality of the platform.
Finally, AI continues to make its mark in advertising, with several brands leveraging the technology in Super Bowl ads, according to TechCrunch. Svedka Vodka, for example, created what it touts as the first primarily AI-generated national Super Bowl spot, featuring its robot character, Fembot.
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