UK plans AI summit, Commerce Dept builds "startup" team to deploy $39B in chip subsidies

The UK will host an AI summit in November featuring execs from DeepMind, OpenAI, Microsoft, Anthropic, and other like-minded countries - Link

The US Commerce Dept built a “startup within the government” consisting of three dozen investment bankers and consultants from Goldman Sachs, KKR, JPMorgan, McKinsey, and others to allocate $39B in chip subsidies - Link

NYT sources: Google’s combined AI team is working on performing 21 different types of personal and professional tasks with its generative AI models, including life advice, ideas, planning instructions, and tutoring tips - Link

ClassWallet, a Florida-based startup that helps state agencies purchase and reimburse for services, raised $95M led by Guidepost - Link

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Sunny Madra is back to discuss the “AI wrapper” stigma, the first official demo-to-investment, and demo more useful AI products! (2:41) Then, Tonebase CEO Igor Lichtmann joins to demo his product, break down how he achieved product-market fit while maintaining capital efficiency, and more! (42:47) - Link

Coinbase received regulatory approval from the National Futures Association to offer crypto futures trading to eligible US clients - Link

Intel officially walked away from its $5.4B deal to acquire Israel-based Tower Semiconductor after failing to get Chinese regulatory approval - Link

BitGo, a Palo Alto-based crypto key protection startup, raised $100M at a $1.75B valuation from undisclosed investors - Link

ZetaChain, a startup building a Layer 1 blockchain, raised $27M from Blockchain.com, Human Capital, Jane Street Capital, and others; the company plans to launch its mainnet soon - Link

This Week in Startups

E1792: The “AI wrapper” debate, AI-powered lead gen, auto-clips, resumes, and more with Sunny Madra

E1791: Zillow CEO Rich Barton on branding, building in provocative industries, and more!

E1790: Next Unicorns: Making surgeons bionic via computer vision & AI with Proprio’s Gabriel Jones

E1789: AI demos + Jason invests $25K live!

E1788: LK-99 breakthrough with Varda’s Delian Asparouhov & Andrew McCalip

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