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Summary : Generative AI and Innovations Transforming the Industry In this week's newsletter, we delve into Amazon's advancements in generative AI with Bedrock, Inferentia2, and CodeWhisperer, discuss the potential of Dolly 2.0 as an open, commercially viable, instruction-tuned large language model, explore Overwater Ventures' $20 million debut venture capital fund, and analyze the compute shortage faced by AI startups as chatbot-fueled FOMO overwhelms cloud computing services.
Amazon Joins Generative AI Race with Bedrock, Inferentia2, and CodeWhisperer | Source
Amazon Web Services (AWS) is making groundbreaking advancements in the field of generative AI with the introduction of Bedrock, Inferentia2, and Amazon CodeWhisperer.
Bedrock enables access to cutting-edge foundation models (FMs) and allows users to easily customize models for specific tasks.
AWS is also launching Titan FMs, designed for tasks such as summarization, text generation, classification, and information extraction.
Amazon CodeWhisperer is an AI coding companion that generates code suggestions in real-time, improving developer productivity.
Dolly 2.0: A Truly Open, Commercially Viable, Instruction-Tuned Large Language Model | Source
Dolly 2.0, a commercially viable, open-source, instruction-following large language model (LLM), has been introduced.
The 12B parameter model is based on the EleutherAI pythia model family and fine-tuned using a high-quality, human-generated instruction dataset called databricks-dolly-15k.
Dolly 2.0's potential applications include summarization and content generation.
Overwater Ventures Raises $20 Million for Debut Venture Capital Fund | Source
Overwater Ventures, started by a veteran from Andreessen Horowitz, has raised $20 million for its debut venture capital fund.
The fund's focus will be on supporting founders commercializing science and technology for human and planet health.
Overwater Ventures has already made 10 investments in early-stage companies pushing the boundaries of biology, healthcare, AI, robotics, climate tech, and the future of food.
Compute Shortage Challenges AI Startups: A Deeper Look | Source
The unexpected surge in demand for cloud computing services has led to a shortage of AI chips, GPUs, and server capacity, affecting AI startups and hindering their development processes.
Large cloud providers like Amazon Web Services and Microsoft Azure have struggled to fulfill orders, with Microsoft even rationing GPU access for its internal teams and slowing down OpenAI's development.
Electrical power shortages in Northern Virginia and Silicon Valley, two major data-center markets, have further driven up cloud computing costs and strained server capacity.
To address the shortage, some startups have turned to smaller cloud providers like RunPod, Lambda Labs, Crusoe Energy, and CoreWeave, although these companies are also struggling to meet the high demand.
The chip and server shortages highlight the importance of not only having a great product but also ensuring ready access to computation for startups to succeed in the competitive AI industry.