Today in AI: Microsoft to invest $1.5 billion in G42; Upstage raises $72 million, and more

Our daily TLDR of important AI news you should know about.

In the ever-evolving world of artificial intelligence, significant investments, innovations, and milestones continue to shape the industry. From Microsoft's major investment in G42 to Upstage's ambitious global expansion plans, here's a roundup of today's developments in the field of AI.

Microsoft plans to invest $1.5 billion in G42, a UAE AI firm that recently cut ties with China due to US security concerns. This partnership will leverage Microsoft's cloud services and ensure secure AI development through collaboration with the US government. G42 will gain access to Microsoft's AI-powered services and both companies will prioritise removing Chinese hardware from G42's operations. As part of the deal, Microsoft President Brad Smith will take a seat on G42's board.

South Korean AI startup Upstage tripled its funding with a $72 million Series B round to fuel expansion into the US, Japan and Southeast Asia. Investors including SK Networks, KT Corp, Korea Development Bank and Shinhan Venture Investment joined the round, which Upstage will use to launch its document processing engines and large-language model Solar in overseas markets, starting with the US.

Google-backed agritech startup Cropin Technology launched an open-source Micro Language Model (MLM) called ‘akṣara’ designed to address the challenges faced by underserved farming communities in the developing world. This MLM aims to remove barriers to knowledge and empower anyone in the agricultural sector to build AI solutions for their specific needs.

Adobe has launched an AI assistant designed to help users understand contents of digital documents, with monthly subscriptions starting at $4.99. Alongside this release, it is introducing a free beta mobile version capable of voice command responses and extending the service to Microsoft Edge and Google Chrome extensions.

Chinese internet giant Baidu announced that its AI chatbot Ernie Bot has surpassed 200 million users. This comes just eight months after Ernie Bot's public launch in August 2023. The company aims to solidify Ernie Bot's position as China's top ChatGPT competitor in a rapidly growing market.