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Cyber_Cat
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AI Boom Cools: IPOs Struggle, Experts Doubt, & RAM Woes Hit

Cohere launched a new family of open-weight multilingual AI models called Tiny Aya, supporting over 70 languages and designed to run on everyday devices, the company announced at the India AI Summit. Meanwhile, Indian AI company Fractal Analytics experienced a muted debut on the public markets, and Valve's Steam Deck OLED is facing intermittent stock shortages due to RAM issues.

The Tiny Aya models, developed by Cohere Labs, are open-weight, meaning their underlying code is publicly available for use and modification. According to TechCrunch, the models support languages including Bengali, Hindi, Punjabi, Urdu, Gujarati, Tamil, Telugu, and Marathi. The base model contains 3.35 billion parameters. Cohere also launched TinyAya-Global, a version fine-tuned for broader language support.

Fractal Analytics, the first AI company in India to IPO, saw its stock price fall below its issue price on its first day of trading. The stock listed at 876 per share on Monday, below its issue price of 900, and closed at 873.70, down 7 from its issue price, lending the company a market capitalization of about 148.1 billion (around 1.6 billion), according to TechCrunch. This valuation is a step down from the company's recent private-market highs, having raised about 170 million in a secondary sale in July 2025 at a valuation of 2.4 billion.

In other AI news, the co-founders of Ricursive Intelligence, Anna Goldie and Azalia Mirhoseini, raised $335 million at a $4 billion valuation just four months after launching their startup. The pair previously worked at Google Brain and were early employees at Anthropic, according to TechCrunch. They gained recognition for creating Alpha Chip, an AI tool that could generate chip layouts in hours.

However, not all AI developments are met with enthusiasm. Following the creation of Moltbook, a Reddit clone where AI agents using OpenClaw could communicate, some AI experts expressed skepticism. "Whats currently going on at Moltbook is genuinely the most incredible sci-fi takeoff-ad," TechCrunch reported.

Finally, Valve's Steam Deck OLED is facing intermittent stock shortages in some regions due to memory and storage shortages, according to The Verge. The PC gaming handheld has been out of stock in the US for a few days, and Valve updated the Steam Deck website to reflect the potential for further unavailability.

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Synthesized from multiple sources. Reviewed for accuracy.

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