💰Toyota Ventures $300m raise | 💾 Meta unveils its chips for AI services

In today’s menu ☕️

💰Toyota Ventures secures another $300 million for tech and climate investments
💾 Meta unveils its in-house chips for AI services, reducing dependency on Nvidia
🤖 Airtel Africa advances $100 million share repurchase effort with new acquisitions
👩🏾‍💻 Apple alerts users in 92 nations to mercenary spyware attacks
👨🏻‍💻 Opportunities

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💰INVESTMENTS

Toyota Ventures secures another $300 million for tech and climate investments

Toyota Ventures, the venture capital arm of Toyota, is stepping up its game with two new $150 million funds aimed at boosting early-stage investments in groundbreaking technology and climate solutions. This move expands the firm’s total assets under management to over $800 million, reflecting its commitment to driving innovation and sustainability.

Since its inception in 2017, Toyota Ventures has been at the forefront of supporting startups developing disruptive technologies across various sectors, from artificial intelligence and robotics to hydrogen solutions and renewable energy. With a portfolio of over 75 startups spanning the globe, Toyota Ventures is dedicated to helping entrepreneurs tackle complex challenges and shape a better future for society and the planet.…….continue reading

📱TELECOMMUNICATIONS

Airtel Africa advances $100 million share repurchase effort with new acquisitions

Airtel Africa is reported to have made a significant purchase of its own shares, acquiring 8.6 million ordinary shares from Citigroup Global Markets Limited. This acquisition is part of a broader, strategic share buyback plan that Airtel Africa initiated on March 1, 2024. Under this plan, the telecommunications giant has committed to buying back shares amounting to $100 million over the course of the subsequent 12 months.

The objective behind this buyback program, as articulated by Airtel Africa, is multifaceted. Firstly, the company intends to reduce its share capital through this mechanism. This reduction is expected to have a domino effect, leading to a decrease in the company’s debt load. Additionally, there is an anticipation of a subsequent decrease in the operating expenses of the company—a move that could further stabilize its financial standing..…….continue reading

🤖 ARTIFICIAL INTELLIGENCE

Meta unveils its in-house chips for AI services, reducing dependency on Nvidia

Meta Platforms Inc. is focusing on making a transition to independent artificial intelligence (AI) operations by introducing its new in-house chip. This strategic move is designed to reduce its dependency on semiconductors supplied by Nvidia Corp and other external providers.

The latest version of the Meta Training and Inference Accelerator (MTIA) was revealed on Wednesday. This chip is crucial in ranking and recommending content across social media platforms like Facebook and Instagram. The very first MTIA product was introduced by Meta last year.

The tech giant’s shift towards AI services has dramatically increased the demand for computational power. Meta released its AI model last year as a competitive response to OpenAI’s ChatGPT. It also incorporated generative AI features into its social apps, such as the creation of custom stickers and chatbot characters that resemble celebrities............continue reading

👨🏻‍💻 CYBERCRIME

Apple alerts users in 92 nations to mercenary spyware attacks

Apple sent threat notifications to iPhone users in 92 countries on Wednesday, warning them that they may have been targeted by mercenary spyware attacks.

The company said it sent the alerts to individuals in 92 nations at 12 p.m. Pacific Time (8p.m. WAT) Wednesday. The notification did not disclose the attackers’ identities or the countries where users received notifications.

“Apple detected that you are being targeted by a mercenary spyware attack that is trying to remotely compromise the iPhone associated with your Apple ID -xxx-,” it wrote in the warning to affected customers.............continue reading

OTHER STORIES

• WeBuyCars’ landmark debut on the JSE – a boost for South Africa’s pre-owned vehicle market…..read more

• Huawei Cloud pledges $10 million in cloud credits to boost Nigerian startups……read more

• Sudan’s Internet Blackout: Citizens Struggle as Conflict Cripples Communications….read more

• Luno receives license to operate as a financial services provider in South Africa…..read more

OPPORTUNITIES

• Huawei invites applications for Kenya’s Seeds for the Future Programme 2024…..read more

• Entries open for 2024 Edition of Global Startup Awards Africa: Aiming to spotlight Africa’s top innovators and entrepreneurs…..read more

• 12 African entrepreneurs win a total of US$400,000 in grants from the FINCA Ventures Prize Competition…..read more

• AgriTech4Egypt Innovation Challenge invites applications from agri-tech ventures for a sustainable agricultural future….read more

• Call for Applications: Amazon Web Services South Africa’s Equity Equivalent Investment Programme for SMEs….read more

• Irish Tech Challenge 2024: Call for South African startups to help address global issues….read more