This week saw a flurry of significant investment deals across various tech sectors. Polymarket raised $45 million from the top-notch investors. U.S. senators proposed a $32 billion plan to boost AI development. Humanity Protocol secured $30 million, reaching a $1 billion valuation, for its digital identity tech. SoftBank plans to invest up to $150 million in India’s AI infrastructure. Microsoft announced a €4 billion investment in France’s cloud and AI sector.
Prominent Figures Support a $45 Million Commitment to Polymarket
Polymarket has successfully secured $45 million in a Series B funding round. This significant instalment was provided by a group of well-known investors, further solidifying the platform’s position in the market. This latest round of funding follows an earlier Series A round led by General Catalyst, which raised $25 million. As a result, Polymarket’s total funding now exceeds $70 million, highlighting the growing confidence in its innovative approach to prediction markets.
To drive its next phase of growth, Polymarket has appointed Richard Jaycobs as the new head of market expansion. With this fresh capital and strategic leadership, Polymarket is well-positioned to enhance its offerings and solidify its presence in the growing field of crypto.
US Senators Want to Invest $32 Billion to Accelerate the Development of AI and Technology
Four US senators from different political backgrounds have put out a $32 billion investment plan to ensure US leadership in the AI industry. The strategy, spearheaded by Majority Leader Chuck Schumer, is to take advantage of AI development’s benefits while addressing its concerns. AI applications not tied to the military would receive the majority of the money, with military-related research receiving a larger share.
Now, obviously the Senate can’t make a law on its own, so I plan to meet with Speaker Johnson in the near future to see how we can make this bipartisan effort BICAMERAL with our AI Policy Roadmap.https://t.co/vbHKER9zNg pic.twitter.com/0H71VaubAz
— Chuck Schumer (@SenSchumer) May 15, 2024
The strategy also includes money for state AI evaluation facilities, AI-ready data, and cross-government investigation and development. The senators also suggest enacting a federal data privacy law, passing laws to ban the use of deepfakes and implementing regulations to deal with problems like AI-related copyright breaches, employment displacement, and discrimination based on one’s health or finances.
In a Financing Round, Humanity Protocol Has Raised $30 Million
With the help of the funds, Humanity Protocol will be able to grow its research and development team and get ready to introduce its public testnet in 2024. The platform integrates ZK-proof technology and a consensus method known as “proof-of-humanity” with a palm scanning option to protect digital identities on a blockchain.
A less intrusive substitute for Worldcoin, which makes use of iris scanning technology, is Humanity Protocol. With the world depending steadily on artificial intelligence and data breaches occurring more frequently, the market for decentralised identities is expanding. The company seeks to promote fairness and inclusivity in the digital future by protecting private user information and confidential information.
SoftBank is About to Invest $150m in India’s AI Infrastructure
As part of its broader focus on infrastructure connected to artificial intelligence, Japan’s SoftBank is contemplating investments in industrial robots and data centres in India. The company targets large companies’ data centre operations or industrial facilities that use automation and artificial intelligence (AI), with investments ranging from US$75 million to US$150 million per purchase.
This is consistent with SoftBank’s global drive for robotics, artificial intelligence, and self-driving vehicles. SoftBank’s two-year investment hiatus in India will come to an end with possible investments in the nation’s AI architecture.
Microsoft Will Invest €4 Billion in Cloud and AI Infrastructure in France
Microsoft’s greatest investment to date is expected to greatly improve the usage of AI in France. With the goal of educating one million people and assisting 2,500 AI firms by 2027, the company plans to invest €4 billion in French tech development. Microsoft’s AI Access Principles, which seek to promote creativity and fair rivalry in the quickly expanding AI sector and guarantee the ethical and equitable growth of artificial intelligence in France, will serve as the initiative’s compass.
The post This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (13-17.05) appeared first on Metaverse Post.