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AI chip developer gets $100 million from Samsung and Hyundai

August 3, 2023 Coin Telegraph

AI chip developer gets 0 million from Samsung and Hyundai

The AI chip developing company Tenstorrent just closed a funding round worth $100 million, which was led by manufacturing giants Samsung and Hyundai.

The artificial intelligence (AI) chip developer Tenstorrent announced the closing of a $100-million funding round on Aug. 3, which was led by major manufacturing companies Samsung and Hyundai, among others.

The company said it raised $30 million from Hyundai, $20 million from the automobile manufacturer Kia, and $50 million from the Catalyst Fund by Samsung and other participating investors in the round, including Fidelity Ventures, Eclipse Ventures and Maverick Capital.

Tenstorrent is led by its CEO, Jim Keller, who previously developed AI chips for major tech companies, such as Apple, Intel and Tesla.

Heung-soo Kim, executive vice president and head of the global strategy office at Hyundai Motor Group, commented on the group’s expectations from the investment:

“... the Group expects to develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development.”

Tenstorrent also said the funds will be used to “accelerate the company’s product development, the design and development of AI chiplets,” along with advancements on the roadmap for its machine learning software.

These initiatives come as developers are racing to compete with Nvidia, the current market leader in AI chip development.

The growing demand for high-powered semiconductor chips to develop AI systems briefly shot Nvidia’s market value into the trillion-dollar range.

On June 13, Advanced Micro Devices (AMD) announced details of its forthcoming AI chip that has the potential to also challenge Nvidia’s market dominance.

AMD, Nvidia and Tenstorrent are all United States-based companies that are currently subject to the ongoing chip export restrictions that are primarily targeting China, one of the major markets for the chips.

Initially, United States President Joe Biden issued restrictions on AI chips to China in October 2022 in order to slow down the semiconductor industry. The administration announced that it’s considering tightening the restrictions in July.

Shortly after the U.S. made this statement, China said it plans to tighten controls on exports of the materials needed to make the chips in the first place.

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Samsung to research South Korea’s CBDC for offline payments

May 15, 2023 Coin Telegraph

CBDC

The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank.

Tech giant Samsung Electronics has reportedly partnered with South Korea’s central bank to conduct research on central bank digital currency (CBDC) for offline payments.

On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MOU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of the CBDC issued by the central bank.

Samsung also participated in the second phase of the BOK’s 10-month CBDC simulation experiment research, which concerned the retail use of CBDCs. The first stage of the BOK’s CBDC research tested basic functions such as CBDC’s issuance, distribution and redemption.

*Samsung Electronics and the Bank of Korea sign an MOU for CBDC research on offline payments. Source: samnews24.com*

The latest MOU is aimed at testing the South Korean CBDC’s potential to conduct remittances and payments using near-field communication (NFC) on Samsung mobile devices instead of the internet. Samsung Electronics vice president Won-Joon Choi revealed that the collaboration allowed the tech giant to apply Samsung’s high-level security technology to the digital currency field. He added:

“Based on cooperation between the two companies, We expect to be able to make a great contribution to the development of global offline CBDC technology.”

As part of the collaboration, Samsung reportedly obtained hardware certification for the Security International Common Criteria Evaluation Assurance Level 6+ grade.

Despite keen interest in CBDCs, Samsung recently banned employees from using generative artificial intelligence (AI) tools like ChatGPT on all Samsung-owned devices and internal networks.

As Cointelegraph previously reported, Samsung introduced the policy after a staff member uploaded a “sensitive code” to the platform. An internal memo addressing the matter read:

“HQ is reviewing security measures to create a secure environment for safely using generative AI to enhance employees’ productivity and efficiency.”

Banking giants, including JPMorgan, Bank of America, Goldman Sachs and Citigroup, have also restricted the use of generative AI tools.

LG Electronics files patent for NFT-trading TV

May 12, 2023 Coin Telegraph

Coin Telegraph

The information was published on WIPO's global database for intellectual property on May 11, 18 months after LG filed its application.

South Korean tech company LG Electronics has filed a patent application for its blockchain-based Smart TV that allows users to trade nonfungible tokens (NFTs).

The information was published on WIPO's global database for intellectual property on May 11. According to WIPO's documentation, a patent application is published 18 months after the filing date or the priority filing. Based on this timeline, LG's application was submitted in November 2021. The next steps include substantive examination, followed by granting or refusing legal protection to the invention.

According to LG's application, its technology allows devices to connect with a crypto wallet and an NFT market server to enable transactions. When connected to an NFT market server, the device incorporates onscreen QR codes that let users complete transactions via a cryptocurrency wallet.

*A partial drawing of the proposed patent. Source: Wipo.*

The application follows the release of LG's own NFT platform last September — the LG Art Lab Marketplace is based on the Hedera network. It allows TVs running webOS 5.0 or later versions to trade digital artworks.

It's unclear if the TV will integrate with different wallets or be restricted to LG's Wallypto, the company's smartphone crypto wallet, which is also available on its Art Lab Marketplace.

LG is onboarding a range of Web3 solutions on its devices. In January, the company disclosed a partnership with cloud-based technology platforms Oorbit and Pixelynx to bring the metaverse directly into viewers' living rooms. At the time, Cointelegraph reported that the collaboration was designed to allow customers to explore interconnected virtual worlds, concerts and artificial intelligence multiplayer games through their LG TVs.

LG is not the only big tech company working to integrate Web3 into its products. Last year, its competitor Samsung announced a new smart TV lineup integrated with an NFT platform. The company is also actively investing in NFT and metaverse projects through its venture capital arm, Samsung Next.

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Samsung employees banned from using ChatGPT-like AI tools

May 2, 2023 Coin Telegraph

The company-wide ban prevents Samsung employees from accessing generative AI tools on all Samsung-owned devices and internal networks.

Samsung is the latest entity to take a stance against emerging generative artificial intelligence (AI) tools as they rapidly infiltrate major global industries.

According to a Bloomberg report on May 2, the company will ban the use of generative AI tools like ChatGPT among its employees. This new policy comes after Samsung staff uploaded a “sensitive code” to the platform.

Samsung told staff that as interest in AI platforms is growing, so are the security risks. The internal memo highlighted concerns over the data sent to AI platforms and its potential to be stored on external servers with little control to retrieve or erase.

“HQ is reviewing security measures to create a secure environment for safely using generative AI to enhance employees’ productivity and efficiency.”

However, it continued that until such measures are in place, the company is “temporarily restricting the use of generative AI.” This includes a ban on the use of generative AI tools on Samsung-owned computers, tablets, phones and its internal networks.

Additionally, any employees who use such tools on personal devices were asked not to submit any company information or else risk “disciplinary action up to and including termination of employment.”

In April, Samsung conducted an internal survey regarding generative AI tools, in which 65% of respondents believed the technology poses a security risk.

Samsung is not the only major company to raise concerns about the emerging technology. Since the beginning of the year, firms such as JPMorgan, Bank of America, Goldman Sachs and Citigroup have restricted or banned the usage of tools like ChatGPT.

However, many of these same companies are in the process of developing their own AI tools. JPMorgan created a ChatGPT-based tool that analyzes statements from the Federal Reserve to decipher trading signals. Samsung is also working on an AI tool for translation and summarizing documents.

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Samsung

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