The lunch briefing.
Mid-day check: Ramp and Supabase secure massive funding rounds, while a new study reveals companies are missing AI savings targets. Also, Nvidia's latest model goes live and TSMC struggles with AI chip demand.
AI Funding Surge. The AI sector continues to attract significant investment, with two major startups announcing substantial funding rounds. Fintech company Ramp raised $750 million, pushing its valuation to $44 billion as investors actively seek out AI-integrated solutions. Similarly, database startup Supabase secured $500 million, reaching a $10.5 billion valuation, underscoring the ongoing appetite for AI-driven infrastructure.
AI Deployment Challenges. Despite the investment, a recent Bain study highlights that many companies are falling short of their AI cost-saving targets. Nearly 40% achieved less than 10% in savings, often because human factors impede the full deployment of autonomous AI agents. This sentiment is echoed by internal discussions at Google, where employees are reportedly sharing memes criticizing the performance of the company's AI offerings.
Frontier Model Development. The race to develop advanced AI models continues with significant new releases. Nvidia's Nemotron 3 Ultra, a 550-billion-parameter open-weight mixture-of-experts model, is now live on its platforms. Concurrently, Google's Gemma 4 12B model, released under an Apache 2.0 license, signals a growing trend towards enabling AI to run efficiently on local and edge devices for specialized agentic workflows.
AI's Societal and Industrial Reach. AI's impact is broadening across various sectors, presenting both opportunities and challenges. A Waymo robotaxi was reportedly used in a theft in San Francisco, raising questions about autonomous vehicle security. Meanwhile, TSMC is struggling to meet the high demand for AI chips, indicating a critical supply chain bottleneck. Even the gaming industry is seeing changes, with new titles like Tomb Raider: Legacy of Atlantis now including disclosures about AI-generated content.
Ramp Raises $750M at $44B Valuation as Investors Hunger for Fintechs with an AI Story
Fintech startup Ramp raised $750 million, tripling its valuation to $44 billion in the past year. Investors are actively seeking out fast-growing fintech companies that integrate AI into their offerings.
Vibe coding phenomenon lifts AI startup Supabase to $10.5 billion valuation
Database startup Supabase announced a $500 million funding round, bringing its valuation to $10.5 billion including the fresh capital. This significant investment highlights continued interest in AI-driven infrastructure.
Nvidia’s best model is now live
Nvidia has released Nemotron 3 Ultra, a 550-billion-parameter open-weight mixture-of-experts model, on its platforms. This follows its pre-announcement at Computex, making the advanced model available for use.
Google’s Gemma 4 12B Shows AI Race Moving to Edge Devices
Google released its Gemma 4 12B model under the Apache 2.0 license, demonstrating a trend towards enabling enterprises to run AI models on local devices. This supports agentic workflows and on-device AI applications.
Bain study finds companies miss AI savings targets because humans keep getting in the way
A Bain survey of 951 companies found that nearly 40% achieved less than 10% in AI cost savings, falling short of their 11-20% targets. This is partly attributed to only 7% of companies running fully autonomous AI agents, despite business cases assuming such deployment.
Google Employees Internally Share Memes About How Its AI Sucks
Internal discussions among Google employees reveal widespread sharing of memes criticizing the company's AI performance. This indicates internal skepticism and challenges with current AI offerings.
TSMC struggles to keep up with AI demand: 'We can only support so much'
Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest chipmaker, is struggling to meet the high demand for AI chips from American customers. CEO C.C. Wei stated they are doing their best to avoid becoming a bottleneck in the AI supply chain.
A burglar used a Waymo to steal yoga clothes in San Francisco — and got away with it
A burglar in San Francisco reportedly used a Waymo robotaxi to facilitate the theft of yoga clothes and successfully escaped. The incident sheds light on how Waymo handles and stores footage from its autonomous vehicles.
Waymo’s spent robotaxi batteries will be used as grid storage
Waymo announced a deal with B2U Storage Solutions to repurpose spent battery packs from its robotaxis for grid storage applications. This initiative aims to extend the lifecycle of electric vehicle components and support energy infrastructure.
Hackers could use poisoned WhatsApp and Slack notifications to take over your Google Gemini
Researchers warn that prompt injection attacks via poisoned WhatsApp and Slack notifications could allow hackers to take control of a user's Google Gemini. This vulnerability extends to Android notifications, posing a risk for various malicious activities.
Chinese spies are using LinkedIn to lure Westerners into sharing sensitive information
An advisory warns that Chinese intelligence agencies are actively using public job search platforms like LinkedIn to recruit individuals with access to non-public information. This highlights ongoing cyber espionage efforts targeting Western professionals.
Asana says its new AI “chief of staff” turns your Slack chaos into trackable work
Asana unveiled Dash, an AI assistant, and a new generation of AI "teammates" designed to transform Slack conversations into trackable work. This aims to streamline project management and reduce communication overhead.
Tomb Raider: Legacy of Atlantis is the latest game to come with an AI-generated content disclosure
Tomb Raider: Legacy of Atlantis is the latest video game to include a disclosure about the use of AI-generated content. This trend reflects a growing need for transparency regarding AI's role in creative industries.
Ferrari and HP made a vivid red laptop with a transparent 'engine bay'
HP and Ferrari have collaborated to create the HP Scuderia Ferrari AI PC, a vivid red laptop featuring a transparent "engine bay" design. Only 4,999 units of this limited-edition $5,600 device will be available.