DURHAM – A big licensing deal potentially worth hundreds of millions of dollars with an Austrlia-based company at the same time also has triggered what Precision Biosciences calls a “right-sized” organization of the company.
“Prior to the announcement, we had 190 employees, with 110 going forward with Precision. Most of the 80 employees went with Imugene, with the remainder parting ways with a reduction in force,” Mei Burris, director of investor relations and finance for the company,” told WRAL TechWire.
What “right-sized” means was not immediately explained in the company’s announcement Tuesday night after the markets closed. The company’s stock is trading at under $1 and it lost $12 million in its most recent quarter ending June 30.
Not many pure-play quantum computing start-ups have dared to go public. So far, the financial markets have tended to treat the newcomers unsparingly. One exception is IonQ, who along with D-Wave and Rigetti, reported quarterly earnings last week. Buoyed by hitting key technical and financial goals, IonQ’s stock is up ~400% (year-to-date) and CEO Peter Chapman is taking an aggressive stance in the frothy quantum computing landscape where error correction – not qubit count – has increasingly taken center stage as the key challenge.
This is all occurring at a time when a wide variety of different qubit types are vying for dominance. IBM, Google, and Rigetti are betting on superconducting-based qubits. IonQ and Quantinuuum use trapped ions. Atom Computing and QuEra use neutral atoms. PsiQuantum and Xanadu rely on photonics-based qubits. Microsoft is exploring topological qubits based on the rare Marjorana particle. And more are in the works.
It’s not that the race to scale up qubit-count has ended. IBM has a 433-plus qubit device (Osprey) now and is scheduled to introduce 1100-qubit device (Condor) late this year. Several other quantum computer companies have devices in the 50–100 qubit range. IonQ’s latest QPU, Forte, has 32 qubits. The challenge they all face is that current error rates remain so high that it’s impractical to reliably run most applications on the current crop of QPUs.
In this “Ask Me Anything” (AMA) episode, Peter delves into the realm of genetics, unraveling its connection to disease and emphasizing the value of understanding one’s genetic risks. He elucidates essential background knowledge on genetics before delving into the myriad reasons why individuals might consider genetic testing. Peter differentiates scenarios where genetic testing provides genuine insights from those where it may not be as useful. From there, Peter explores a comprehensive comparison of commercial direct-to-consumer genetic tests, providing insights on interpreting results and identifying the standout options for gaining insights into personal health.
OpenAI, the artificial intelligence studio that popularised AI with its chatbot ChatGPT, is reportedly facing a financial crisis that could lead to its bankruptcy.
According to a report by Analytics India Magazine, OpenAI spends a staggering $700,000 every day to run ChatGPT, one of its flagship AI services. The chatbot, which uses a powerful language model called GPT, can generate realistic and engaging conversations on various topics.
Cyrus Hodes alleges that CEO Emad Mostaque deceived him into selling his 15% stake for $100—three months before the startup reached a $1 billion valuation. His stake would be worth over $500 million now.
Mostaque convinced Hodes “that the company he had helped build was essentially worthless,” leading him to sell his shares to him in October 2021 and May 2022, according to a complaint filed in San Francisco federal court on July 13.
“But just a few months later, in August 2022, the company engaged in a seed funding round in which venture capital firms invested $101 million at a post-money valuation of $1 billion,” the complaint states. “More recently, the company has been in the marketplace seeking funding at a valuation of $4 billion.”
Numerai is a groundbreaking platform which is taking the data science world by storm. Tim has been using Numerai to build state-of-the-art models which predict the stock market, all while being a part of an inspiring community of data scientists from around the globe. They host the Numerai Data Science Tournament, where data scientists like us use their financial dataset to predict future stock market performance.
Peter has had a long and storied career, starting over 20 companies in the areas of longevity, space, venture capital and education since he graduated MIT in the early ‘80s and subsequently completing his Doctor of Medicine studies at Harvard Medical School.
Experience the captivating world of Quantum Computing in AI through this thrilling video! Delve into the groundbreaking realm of Quantum Computers and its revolutionary synergy with Artificial Intelligence, leading us into an era of technological revolution. The first part of the video unravels the enigmatic concept of Quantum Computing, explaining its complex principles in a way that even beginners can understand. Watch the video to discover the magic of quantum bits (qubits) and superposition as they challenge the norms of classical computing. Are you curious about what Quantum Supremacy is? Or what Quantum Computing in AI can truly achieve? This intriguing section showcases the extraordinary capabilities of these computing marvels, delving into the fascinating world of quantum supremacy and how it empowers AI. Moving forward, embark on a journey into Quantum Machine Learning, a cutting-edge AI paradigm that combines Quantum Computing with Artificial Intelligence. Prepare to be amazed by its ability to push the boundaries of data processing, learning, and prediction and embarking revolution in Neural Network and Natural Language Processing. The future of quantum AI is revolutionary; you should not miss it! The video does not stop there! We also explore real-world applications of Quantum AI, demonstrating how this technology is revolutionizing industries like healthcare, cybersecurity, finance, education and more, with unprecedented efficiency and precision. The video sheds light on Quantum AI’s potential to solve once-unthinkable problems in areas such as molecular simulation, precise optimization, predictions, and personalization. We discover how AI with Quantum Computing solve challenges which were thought impossible to crack. This video is a comprehensive resource for anyone interested by Quantum Computing, AI, and their synergy. Join us as we embark on this exciting journey into the revolutionary synergy between two technologies. Whether you’re a quantum computing enthusiast, an AI lover, or simply enjoy tech insights, don’t forget to Like, Comment, and Subscribe to stay informed about the latest trends! #quantumcomputing. #artificalintelligence. #ai. #futureofai. #technology. Chapters. 0:00-Introduction. 0:50-Simple Concepts of Quantum Computing and AI 2:30-Ways How will Quantum computing affect AI? 2:34–1) Improvement in Machine Learning Algorithm. 4:04–2) Enhanced Neural Network. 5:15–3) Advancing Natural Language Processing. 6:27–4) Solving Complex Issues. 7:02-Usability of Quantum AI Computing. 7:23–1) Fact-Checkers for AI Chatbots. 8:08–2) Benefits for Life Science. 8:50–3) Cybersecurity. 9:21–4) Impact on Education. 10:08–5) Autonomous Vehicle. 11:01–6) Logistics Industry. 11:55–7) Climate Change. 12:52-ConclusionSubscribe for more content in the fascinating field of Artificial Intelligence. ******************* Welcome to AI TechXplorer, your premier destination for cutting-edge insights into AI trends and technology. As a channel dedicated to the forefront of artificial intelligence, we delve deep into the world of AI, latest AI trends and technology, providing research-driven insights into development of AI tools, platforms, AI news and updates in artificial general intelligence (AGI) and robotics. Our commitment to delivering quality content begins with our rigorous research approach. Understanding that AI can be an intimidating field for newcomers, we make it our mission to provide clear and accessible explanations. Whether you are a seasoned AI enthusiast or someone who has just discovered the world of AI, our videos break down complex concepts, developments, and breakthroughs into digestible and relatable explanations. We believe that knowledge should be inclusive and approachable, and we are dedicated to making AI understandable for all. We keep a keen eye on the latest advancements in AI, ensuring that you stay informed about the cutting-edge developments and their practical applications. By highlighting the significance of these advancements within our society, we strive to bridge the gap between AI and its real-world implications, ultimately fostering a greater appreciation for the transformative potential of AI. 🔔 Join us at AI AI TechXplorer as we embark on a journey through the realms of artificial intelligence. Together, we will uncover the latest AI trends, explore groundbreaking technologies, and unravel the mysteries of artificial general intelligence. Subscribe to our channel today and be part of the ever-evolving world of AI. 🔔.
X CEO Linda Yaccarino claims that the company formerly known as Twitter is almost breaking even.
“I’ve been at the company eight weeks,” Yaccarino said in her first broadcast interview since taking on her new role. “The operational run rate right now… we’re pretty close to break even.”
This is a surprising declaration, given the company’s financial struggles since its acquisition by Elon Musk. Ad revenue is plummeting as brands pause spending on the platform, and X has gone to desperate lengths to get more cash flow — remember when we all got rate limited for not subscribing to Twitter Blue? Or when the company curbed its developer community by charging exorbitant rates for API access?
The Struengmann brothers’ agreement Monday to lead the purchase of a hand-sanitizer maker owned by EQT AB alongside other investors marks at least the sixth major deal involving the billionaire twins and the Swedish private equity firm within the past decade, according to data compiled by Bloomberg.
The deal for EQT’s Schuelke & Mayr GmbH values the Norderstedt, Germany-based company at about €1.4 billion ($1.5 billion), people with knowledge of the matter have said, asking not to be identified discussing confidential information. Financial details weren’t disclosed. The sale is expected to close in the final quarter of 2023, according to a news release Monday.
A representative for the Struengmanns didn’t respond to a request for comment. The 73-year-old brothers are together worth about $24 billion, according to the Bloomberg Billionaires Index.
