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Quick Bites👇🧋

Tech: Elon Musk’s xAI startup secures $6 billion in funding 💵

xAI, the artificial intelligence startup founded by Elon Musk, has successfully raised $6 billion in a Series B funding round building another $24 billion company on top of Tesla, SpaceX, Neauralink & X.

2024🙄, What a year! 💁🏻‍♀️

This substantial investment, will help xAI’s efforts to develop and launch its first products, positioning it as a direct competitor to OpenAI.

The funding round attracted a diverse group of investors, including prominent names like Andreessen Horowitz, Sequoia Capital, and Fidelity Management & Research, along with Saudi Arabia’s Prince Alwaleed bin Talal.

Founded in 2023, xAI operates independently from Musk’s other ventures, such as Tesla and SpaceX. The company aims to create a safer and more beneficial artificial general intelligence (AGI) than existing models like OpenAI’s ChatGPT.

xAI is primarily focused on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity.

xAI boasts a team of experienced AI researchers and engineers hailing from renowned institutions like Google Research, DeepMind, OpenAI, and Tesla. 

While specific details about xAI’s upcoming products and research directions remain undisclosed, the company has emphasised a commitment to ethical development and prioritizing safety in AI advancements.

The funding round significantly boosts xAI’s resources and sets the stage for accelerated development and commercialisation of its AI solutions. 

Health: The World’s Biggest Food company “Nestle” launches new line with more Protein 🍕🍖🍗

Nestlé will launch the new line of frozen pizzas and protein-enriched pastas in the United States first.

The world’s biggest food company said it developed the new products with more protein, iron and calcium for people taking the wildly popular appetite-suppressing drugs, called GLP-1 agonists. A line of pizza and pasta dishes will be launched specifically aimed at taking weight loss drugs such as Wegovy or Ozempic.

Nestle CEO Mark Schneider said that the company was monitoring whether spreading use of the drugs might dent demand for its food products.

Some investors have been worried that food companies will lose sales due to the hunger-suppressing drugs. But executives at companies like Nestle and Conagra see the medications presenting a new opportunity to pitch products such as beef jerky, popcorn and frozen meals.

Jobs: New college grads are more likely to be unemployed in today’s job market 🙄🧑🏼‍💻

The unemployment rate for recent college graduates is higher than for the general population in an unusual shift.

Despite a surprisingly robust job market,recent college graduates have been having a harder time finding work than the rest of the population since the pandemic. This marks a sharpreversal from long-held norms, when a newly minted college degree all but guaranteed a better shot at employment.

But that changed after covid. New grads have consistently fared worse than other jobseekers since January 2021, and that gap has only widened in recent months. Thelatest unemployment rate for recent graduates, at 4.4 percent, is higher than the overall joblessness rate and nearly double the rate for all workers with a college degree.

Part of the problem is that the industries with the biggest worker shortages — including restaurants, hotels, day cares and nursing homes — aren’t necessarily where recent graduates want to work. Meanwhile, the industries where they do want to work — tech, consulting, finance, media — are announcing layoffs and rethinking hiring plans.

Our thoughts 💭, that graduates focus on building skills and gaining experience rather than fixating on a specific job title — as well as remaining versatile and open to opportunities.

Luxury: Range Rover 🚘, Sport Get Massive Half A Crore Plus Price Cut

Jaguar Land Rover (JLR) owned by Tata Motors has announced that it will be manufacturing the flagship Range Rover luxury SUV and the Range Rover Sport in India.

JLR will import CKD (Completely Knocked Down) kits which will be assembled at the company’s facility in Pune. This move marks the first time these luxury SUVs will be produced outside the United Kingdom. Also, the sales and deliveries of the locally-made SUVs have already begun.

Due to local assembly, both SUVs attract significantly less import duty resulting in savings of 18-22 per cent. The top-of-the-line Range Rover Autobiography model is now dearer up to Rs 60 lakh whereas the Range Rover Sport sees a price cut of Rs 40 lakh. The locally produced Range Rover 3.0-litre HSE LWB diesel is priced at Rs 2.36 crore and the petrol Autobiography version is priced at Rs 2.6 crore (both prices ex-showroom). The much sportier Range Rover Sport is priced at 1.40 crore (ex-showroom).

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