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AI Startup Anthropic Raises $100 Million in New Funding

By
Ojukwu Emmanuel
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0
Fund, money cash dollar

San Francisco-based Artificial Intelligence (AI) startup, Anthropic, has announced the raise of $100 million in funding from one of the largest mobile operators in South Korea, SK Telecom.

SK Telecom, which earlier made an investment in Anthropic in May, disclosed that the two companies aim to develop a global telecommunications-oriented multilingual large language model (LLM) and build an AI platform.

The LLM which SKT and Anthropic will jointly develop would allow four Global Telco AI Alliance members which include, e& and Singtel, Deutsche Telekom, to offer AI developments customized to their users in each market. The LLM would support English, Korean, German, Japanese, Arabic, and Spanish languages.

Commenting on the recent funding, CEO of SKT Ryu Young-sang said in a statement,

“Combining our Korean language-based LLM with Anthropic’s strong AI capabilities, we expect to create synergy and gain leadership in the AI ecosystem with our global telco partners”.

Founded in 2021, Anthropic is building an AI system called Claude, like OpenAI’s ChatGPT, that enables corporations to manage tasks, including searching, generating answers, automating workflows, coding, and processing text in natural conversations.

Like OpenAI, Anthropic also has big tech backing. By late 2022, Anthropic had raised US$700 million in funding, out of which US$500 million came from Alameda Research.

In February 2023, Google’s cloud division followed with an investment of US$300 million for a 10% stake, in a deal requiring Anthropic to buy computing resources from Google Cloud.

In May 2023, Anthropic raised US$450 million in a round led by Spark Capital. This brought the startup’s valuation to roughly $5 billion.

In July this year, the Google-backed AI startup released its updated version, Claude 2, its second-generation AI chatbot.

The Claude 2 comes with an improved performance, longer responses, and can be accessed via API as well as a new public-facing beta website, claude.ai. Anthropic has made improvements from its previous models on coding, math, and reasoning.

For example, Claude 2 scored 76.5% on the multiple-choice section of the Bar exam, up from 73.0% with Claude 1.3. When compared to college students applying to graduate school, Claude 2 scored above the 90th percentile on the GRE reading and writing exams, and similarly to the median applicant on quantitative reasoning.

It is worth noting that Anthropic Claude models are seen as major competitors to OpenAI’s GPT-4. The startup goal is to make fundamental research advances that will let the company build more capable, general, and reliable AI systems that deploy these systems in a way that benefits people.

Anthropic has said it will focus on research into increasing the safety of AI systems. Specifically, the company is focusing on increasing the reliability of large-scale Al models, developing the techniques and tools, to make them more interpretable, and building ways to more tightly integrate human feedback into the development and deployment of these systems.

Mastercard to Purchase Stake in MTN’s US$5.2 billion Fintech Unit, Momo

By
Ojukwu Emmanuel
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0

Global financial services corporation that specializes in payment processing, Mastercard, has agreed to purchase a minority stake in MTN’s fintech subsidiary, MoMo.

Reports disclose that signing the formal investment agreements will likely occur soon, as both parties near the end of the regular due diligence process. The investment will be closed subject to usual closing conditions.

According to MTN Group President and CEO Ralph Mupita, he said the deal will be structured into two parts, including a commercial agreement on payments and remittance that uses Mastercard’s technology infrastructure to expand in Africa and the investment into a minority stake.

In his words,

“Following the bespoke process to identify and potentially introduce strategic minority investors into MTN Group Fintech, we executed commercial agreements with Mastercard to support the acceleration and growth of our fintech business’s payments and remittance services.

“MTN and Mastercard also signed a memorandum of understanding which provides for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation of about US$5.2 billion for the business on a cash and debt-free basis. The signing of the definitive investment agreements is expected to occur in the very near term as we approach the finalization of customary due diligence. The closing of the investment will be subject to customary closing conditions.”

MasterCard’s investment in MTN’s fintech subsidiary MoMo is coming a year after MTN in March 2022, announced its plans to look for minority investors in its fintech unit, after separating the division from the carriers telecom business.

MTN disclosed that it search for investors in MoMo, was a move to maximize development in the thriving division. The recent strategic partnership with Mastercard, will no doubt enhance MTN’s fintech capabilities and reach.

Mastercard will leverage its global network, technology, and expertise to support MTN’s digital transformation and innovation agenda. Also, the financial services company will help MTN expand its fintech offerings to new markets and segments, such as e-commerce, remittances, and cross-border payments.

The partnership will also benefit MTN’s customers who will gain access to Mastercard’s wide range of products and services, which includes, virtual cards, QR codes, contactless payments, and digital wallets. Notably, the partnership will also enable MTN’s customers to participate in the global digital economy and access new opportunities.

MTN MoMo is regarded as one of the fastest-growing financial institutions, and also the largest and biggest Fintech company by customer base in Nigeria.

The Fintech startup enables customers to send and receive money, pay bills, buy airtime, access loans, insurance, and savings products, and shop online using their mobile phones. The Fintech also partners with banks, merchants, and other service providers to offer various digital services and platforms.

Over 900 million transactions are reported to be processed monthly across 16 African countries with more than 50 million users on MoMo.

In 2023, MoMo’s volume of transactions in six months, increased by 37% to 8.3 billion, carried out by 61 million active MoMo customers across Africa. MoMo since launch, targets a $5 billion valuation.

The MTN fintech subsidiary envisions a future where the service is home to the banked, unbanked, and underserved. With its innovative strategies, MoMo joins the ongoing efforts by the Central Bank of Nigeria (CBN), to accelerate its drive for financial inclusion.

Beyond Gold for Naira: The Illusion of Gold for Backing And Strengthening Currencies

By
Ndubuisi Ekekwe
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1

Question: “Ndubuisi, if a unified paper currency cannot save Africa, what about a paper currency backed by gold? Of course, I am an advocate for production as a veritable means of economically improving Africa. However, I will appreciate your answer”.

My Answer: In our modern global economy, using gold to back any currency in a free mercantilist economy (you are better by increasing export and trade) is an illusion. The US has about 8,133 metric tons in the American gold reserve which comes down to about $500 billion. Simply, if you melt all the physical gold in America, it is not worth up to 25% of the value of Apple Inc. At a deeper level, Apple does more for the United States than all the gold in the bullions, because markets have priced Apple more!

Globally, in all forms and nature including bullions, jewelry, derivatives, private placements, stocks, etc, the value of gold is about $13 trillion. The world economy is about $105 trillion, and all the nations within the gross world product are tethered to their currencies. There is no way gold in all forms will back those currencies unless we move into the imperial age.

Gold makes sense when you’re disconnected from global trade since you need another layer to cushion your currency. That was what Russia did as sanctions hit up, they bought physical gold, tying their currency on it, since it was isolated. That stabilized the ruble since behind the currency, there was a “2 factor authentication” layer which could prevent any direct frontal attack on the currency.

To boost and strengthen any currency, your second part is what it is: production and lots of export, especially if your currency is not the global reserve. In other words, the US dollar is earned by every other country in the world, but the US prints it, which means it can create the currency while others must sell something to earn it. That shapes what those nations do, and part of the game is to make things which other countries want. Where you fail to do just that, your currency struggles, even if you have used gold to decorate  your central plate.

Source: Visual Capitalist

Other countries must EXPORT to improve balance of payment but the US does not necessarily have to do that at scale provided all believe in the strength of that currency, since it is the benchmark. Yet, believing in that currency comes from productivity and innovation within the US economy. In summary: it is only when innovation and productivity back currencies that it becomes stronger.

Africa needs to be productive; gold will not save our currencies.

ChatGPT Top Altcoin Picks for August – BNB, XRP, and Everlodge

By
TI Partners
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0

The crypto space is very dynamic making it important for investors to always monitor the market. Meanwhile, ChatGPT has identified three top altcoins that are gaining attention in August. They are Binance Coin (BNB), Ripple (XRP), and Everlodge (ELDG).

Click Here To Find Out More About The Everlodge (ELDG) Presale

Binance Coin (BNB) To Soar 10x

Recently, Binance Coin (BNB) has shown a period of price consolidation, with lateral movement between $245 to $234 over the past two weeks.  This intriguing price action from BNB has given rise to a bullish reversal pattern known as the inverted head and shoulders.

As a result, ChatGPT is predicting a bullish price movement soon. However, BNB bulls must maintain the recently formed support level.

If they are able to do so, it could open the chance for a potential 10% recovery for BNB. According to CoinMarketCap, BNB  is trading at $240.57, a -2.54% price decline in the last 24 hours.

Can XRP (XRP) Breakout From Its Narrow Range?

Ripple (XRP) is currently trapped in a narrow range, fluctuating between $0.74 and $0.675. Notably, coin buyers are finding strong support at the $0.675 level. For the past two weeks, the coin price has hovered just above this support, struggling to achieve a sustained recovery.

If XRP experiences a post-breakdown fall, it could potentially drop by another 8.5%. Such a drop would take it to the $0.62 support level. However, If the overall crypto market improves, XRP bulls would bounce from the $0.645 and aim for the $0.74 barrier.

A successful breakout could lead to a bullish upswing of 14%, reaching the $0.85 price level. Subsequently, XRP could extend further to the $0.935 mark.

Everlodge (ELDG) To Soar 50x Before the End of August

Everlodge (ELDG) is set to revolutionize the real estate space using NFT fractionalization and blockchain technology. The platform will democratize access to the trillion-dollar industry. This will enable investors to own fractional shares in high-value properties like hotels, luxury villas, and vacation homes.

The aim of the project is to capitalize on the booming hospitality industry, valued at over $4.548 trillion. Interestingly, the value of the NFT will rise as the property’s value increases. Meanwhile, users can sell their NFTs on Everlodge’s marketplace or even use them as collateral to collect loans.

Other benefits that Everlodge will offer include staking rewards and discounts. This dedication to users’ fulfillment and rewarding journey underscores Everlodge’s commitment to providing exceptional service. Everlodge will be locking its liquidity pool for 8 years and team tokens for 2 years.

Everlodge is presently in the presale phase, and each ELDG token is available for purchase at just $0.01. With its robust features and advantages, analysts foresee a significant surge in the adoption of Everlodge’s token. The Everlodge token has several use cases and benefits for its holders. Those with Everlodge tokens can stake them to earn rewards and enjoy free nightly stays at Everlodge hotels.

Find out more about the Everlodge (ELDG) Presale Today

Website: http://www.everlodge.io/

Telegram: https://t.me/everlodge

Meme Coin Presales: The Way That Shiba Inu & Big Eyes Coin Are Dominating The Market

By
TI Partners
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0

The meme coin market is witnessing new overwhelming changes for the better. Meme coins presales are dominating the arena and attracting investors left and right, especially after the success of Big Eyes Coin (BIG) and its new Big Eyes Infinity Presale ($BIGINF) and Shiba Inu’s 9% gains in the last week. These meme coins are taking the industry to another level, and after August 2023 will make drastic changes to the whole scene.

Presales Effect On The Coin’s Success

Presales play an important role in cryptocurrencies and especially in the early days of developing a coin. A presale process is applied by offering a limited number of tokens or coins to a group of investors before the public launch for a discounted price as a reward for their early participation and support for the project. Presales build early support for the project and allow a high return on investment (ROI). Furthermore, It creates a sense of anticipation and teamwork that will empower the crypto community in the future and guarantees the project’s success.

The Meme Coin Presale Pioneers

Shiba Inu, one of the most popular meme coins, restored its market capitalization to $4,225,133,880 and gained 9% in the last seven days, overcoming the effects of the Securities and Exchange Commission’s (SEC) uncertainty and maintaining its stability in this hostile market environment.

Big Eyes Coin is surprising its endorsers with the new Big Eyes Infinity Presale ($BIGINF). Customers who buy $BIGINF tokens in this presale will be given matched tokens added to their BIG 819 casino account, and after the end of the presale, players will be able to use these bonus tokens and withdraw them from their account with an increase of x2.5.

Why Should I Care About A Meme Coin Presale?

Fine-tuning the identity and features in the early stages of an altcoins development is vital. The presale offers the perfect opportunity for quick adoption to expand its investor base. If there’s one thing everyone can agree on, it’s that the customer rules all. It’s not enough to be customer-focused or customer-centric. You have to be customer-obsessed.

Presale coins like Big Eyes Coin and its Big Eyes Infinity presale know the customer, and they know the technology. They can tell when a customer isn’t getting the best use from a product. They’ll notice if new features aren’t working as billed. Ideally, they have a direct line back to the product team, so they can fix anything that isn’t working and develop new features customers need. They have what it takes to make customers successful in the long run.

The Preferred Method In Choosing The Best Meme Coin Presale

There are some standards that investors need to follow to choose the most appropriate meme coin presale. First of all, the investor needs to research the latest news regarding the coin and its features. An example of this is the launch of Big Eyes Coin V2 after going up by more than 40% within 7 days, or Shiba Inu gaining 9% of its market cap. The other thing that the investor needs to pay attention to is the fact that the history and success of a coin in the past are very important, and it will aid the investor in predicting the efficiency of the coin in the future.
Creating New Horizons For Novice Investors

Presales are designed for the benefit of the investor and the project, especially the meme coin presales, because they focus on the participation of the community to generate utility. Presales like Big Eyes Infinity focus on enhancing profits by promoting transparency and drawing insights from past errors. Additionally, $BIGINF tokens will be distributed to holders through an airdrop while also launching on a decentralised exchange (DEX) concurrently, aiming to maximise returns for the community.

 

Big Eyes Coin (BIG)

Website: https://bigeyes.space/

Telegram: Telegram: Contact @BIGEYESOFFICIAL

Instagram: https://www.instagram.com/BigEyesCoin/

Twitter: https://twitter.com/BigEyesCoin

 

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