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German AI company DeepL has closed a $300 million funding round at a $2 billion valuation led by Index Ventures with participation from ICONIQ Growth, Teachers' Venture Growth and existing investors. DeepL reports fast growth and says it now has over 100,000 business customers in more than 60 markets using its AI-powered translation and communication tools. CEO Jaroslaw Kutylowski says the industry is approaching a tipping point in the AI boom, where companies will separate the hype from proven solutions that add real value. Over the last year, DeepL has greatly expanded what it offers, such as adding the DeepL Write Pro AI writing assistant and adding support for new languages like Arabic and Korean. Investor Index Ventures sees DeepL as a careful innovator that focuses equally on business success and research.

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Mistral introduces a new version of its popular 7B Mini language model. Mistral-7B-Instruct-v0.3 is specifically optimized for instruction tasks and offers advanced tokenization and function calling. Mistral provides a Python package called mistral_inference that allows developers to easily interact with the model, including a mistral-chat CLI tool for quick conversations. The model can also be used with the Hugging Face Transformers library. Mistral notes that the model does not currently have any moderation mechanisms. It is meant to demonstrate that the 7B base model can be easily customized.

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AI music generator Suno AI has raised a $125 million investment. Suno plans to use the funding to accelerate product development and grow its team. According to Suno, 10 million people have generated music with Suno within eight months of its launch, many of them for the first time. Investors include Lightspeed Venture Partners, Nat Friedman, Daniel Gross, Matrix and Founder Collective. Suno also works with advisors like 3LAU, Aaron Levie, former Tesla AI head Andrej Karpathy and Guillermo Rauch. The goal is to create a future where "anyone can make music" by using technology to make people more creative, it says. Like many AI companies, Suno is accused of training its AI model on works by human artists without permission. Sony Music and others are taking action against this, and lawsuits are pending or underway.

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Humane, the startup that launched the AI assistant AI Pin, is looking for a buyer, Bloomberg reports. The company is working with a financial advisor and hopes to sell for between $750 million and $1 billion. Despite millions of dollars in investment, Humane's AI Pin was widely panned by critics after its release and tanked. Critics cited irrelevant responses, short battery life, lack of control, and low overall value compared to a smartphone—all at a price of $700 plus a $24 monthly fee. It's unclear who would buy the company behind this device at that price, given the criticism. The most interesting option would likely be a deal to acquire the AI talent and engineers they employ. The brand name is already damaged after the first product.

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Amazon is planning a major upgrade to its Alexa voice assistant with generative AI later this year to keep pace with chatbots like those from OpenAI and Google, according to CNBC sources. The new version of Alexa will come with a monthly fee not included in the Prime subscription. Under founder Jeff Bezos, Alexa was considered an internal pet project, but lost priority with CEO Andy Jassy. Now, the Alexa team faces pressure to keep the voice assistant relevant. Amazon hopes to capitalize on Alexa's large installed device base. Challenges include the cost of generative AI and competition for AI talent. For the Alexa upgrade, Amazon wants to use its own large language model called Titan. Amazon is also said to be working on a cutting-edge language model codenamed Olympus, but there's been no word of it recently. Bezos is concerned that Amazon is falling behind in AI. Although he has stepped down as CEO, he remains very involved in Amazon's AI strategy, CNBC reports.

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