The AI Eye: Baidu (Nasdaq: $BIDU) to Invest $200 Million into AI-Investment Firm and Veritone (Nasdaq: $VERI) Makes aiWARE Platform Available to Microsoft (Nasdaq: $MSFT) Azure Government
Point Roberts, WA and Vancouver, BC - September 13, 2019 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.
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The #AI Eye: Baidu (Nasdaq: $BIDU) to Invest $200 Million into AI-Investment Firm and Veritone (Nasdaq: $VERI) Makes aiWARE Platform Available to Microsoft (Nasdaq: $MSFT) Azure Government
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (NasdaqGS:BIDU) (NasdaqGS:VERI) (NasdaqGS:MSFT)
Baidu, Inc. (NasdaqGS:BIDU) plans to invest 1.44 billion yuan ($200 million USD) into AI-focussed investment firm Neusoft Holdings Co. Ltd. The agreement will see Baidu CTO Wang Haifeng join Neusoft's board and the two companies will collaborate on areas including smart cities, education services and healthcare. The South China Morning Post quotes Baidu's statement on the deal:
"Neusoft is an industry leader in ... smart cities ... and AI cloud for hospitals and the education sector. The collaboration between Baidu and Neusoft ... is cooperation between an internet firm and a solutions provider to explore leading AI technology applications and industrial intelligence."
Veritone, Inc. (NasdaqGS:VERI) has made its aiWARE platform available on Microsoft's (NasdaqGS:MSFT) Azure Government, allowing users of the latter to leverage Veritone's operating system for artificial intelligence. Ryan Steelberg, President of Veritone, explained:
"Given Microsoft's cloud dominance in the government sector, we are extremely excited about the opportunities this collaboration opens up. As state and federal agencies across the country continue to modernize their IT infrastructure, many of them are already on Azure Government. Now, new and existing Azure Government customers will be able to leverage Veritone aiWARE and our purpose-built applications to fundamentally transform their operations. Using AI, agencies will be able to unlock insights from their voluminous datasets with speed and scale previously unimaginable, helping them accomplish their missions more efficiently and effectively than ever before.
Element AI Raises $151 Million USD in Series B Round
Canadian AI software developer Element AI has raised $151 million USD in a Series B Round of financing, allowing it to accelerate deployment and commercialization, and continue to develop AI products. According to the press release, new investors include: the Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, McKinsey & Company, a global management consulting firm and owner of advanced analytics company QuantumBlack, and the Government of Québec. Element AI CEO Jean-François (JF) Gagné said:
"Operationalizing AI is currently the industry's toughest challenge, and few companies have been successful at taking proofs-of-concepts out of the lab, embedding them strategically in their operations, and delivering actual business impact. We are proud to be working with our new partners, who understand this challenge well, and to leverage each other's expertise in taking AI solutions to market."
Sam Mowers, Investorideas.com
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