Plus: China’s Moonshot AI releases new open-source model it says rivals U.S. counterparts. And Databricks is raising $3 billion at a $188 billion valuation. Imani Moise hosts.
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[00:00:16] [SPEAKER_00] Here's your morning TNB Tech Minute for Friday, July 17th. I'm Imani Moise for The Wall Street Journal. We exclusively report that a top executive at Amazon's cloud division plans to join Meta in the coming weeks, in a sign of the social media giant's growing ambitions in developing data centers and computing resources as AI use continues to skyrocket.
[00:00:37] [SPEAKER_00] According to people familiar with the matter, Amazon Web Services executive Dave Brown will bring his nearly two decades of experience to Meta to focus on its data center build-out. Meta expects to spend up to $145 billion on capital expenditures this year, much of it related to its build-out of AI data centers.
[00:00:58] [SPEAKER_00] China's Moonshot AI has launched an AI model it says outperformed some cutting-edge U.S. systems, the latest sign that Chinese labs can rival their American counterparts. The startup said today that it plans to fully open-source the model named Kimi K3 later this month. Moonshot called Kimi K3 the world's biggest open-source model, with 2.8 trillion parameters dictating its decision-making.
[00:01:22] [SPEAKER_00] China's rapid advances in AI have been spurred in part by Beijing's efforts to become self-sufficient as it competes for technological supremacy against the U.S. And in another exclusive, we report data analytics software provider Databricks is set to hit a $188 billion valuation. People familiar with the matter say investment firm KOTU Management is leading a $3 billion funding round. The new financing represents a 40% increase from the startup's valuation in December.
[00:01:51] [SPEAKER_00] Databricks is one of Silicon Valley's most valuable startups and is among a crop of companies long-considered candidates for public listings. The new financing round is a company Series M, a letter rarely reached by private companies. And that's your TNB Tech Minute. We'll be back this afternoon with more.
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