Author: Akin Naphtal

SparkLabs, a prominent early-stage venture capital firm known for backing AI giants like OpenAI and emerging startups such as Vectara, Anthropic, and xAI, announced the closure of a $50 million fund dedicated to supporting AI startups. Named the AIM AI Fund, this latest financial commitment will fuel investments through SparkLabs’ AIM-X accelerator in Saudi Arabia and in AI startups worldwide. The AIM-X accelerator, launched earlier this year as part of Saudi Arabia’s national AI Mission, represents a strategic effort to advance AI technology in the region. SparkLabs plans to allocate approximately 35% of the new fund to participants in the…

Leading tech education start-up, Child-In-Tech, has announced its first-ever AI Summit, which is scheduled for 5th September, 2024, at Blue Crest University, and sponsored by TapTap Send, a renowned fintech company. The AI Summit aims to introduce children under 18 to the world of Artificial Intelligence (AI), providing a platform for them to learn, explore, and showcase their innovative ideas. The event promises to be an engaging and interactive experience, featuring keynote speeches, workshops, and project exhibitions. Themed “Empowering Young Minds through AI,” the summit will bring together industry experts, educators, and young tech enthusiasts to share knowledge, inspire creativity,…

Sasai Money Transfer, a subsidiary of Cassava Technologies and one of the fastest-growing international money transfer operators, has expanded its groundbreaking zero-fee remittance service to additional African markets through a new partnership with Airtel Money. This initiative, launched in May 2024 in collaboration with Econet in Zimbabwe, is now extending its reach, starting with Uganda. It will soon include other high-traffic remittance markets such as Ghana, Malawi, Nigeria, Kenya, and Zambia. The zero-fee initiative allows users of Sasai Money Transfer in the United Kingdom and South Africa to send money to family and friends in Uganda without incurring remittance fees.…

OpenAI, the creator of ChatGPT, is reportedly in discussions to secure a fresh round of funding that could push its valuation beyond $100 billion, according to sources cited by The Wall Street Journal. New York-based venture capital firm, Thrive Capital, is expected to lead the round, with an investment of approximately $1 billion. The San Francisco-based AI start-up was last valued at $86 billion, with significant backing from major investors including Microsoft, Khosla Ventures, Infosys, and Y Combinator. Microsoft, which has been OpenAI’s largest backer since the viral success of ChatGPT in 2022, is also expected to participate in this…

OpenAI has reported a significant increase in the weekly active users of its AI chatbot, ChatGPT, with numbers doubling over the past year to surpass 200 million. The San Francisco-based start-up, which has been a driving force in AI innovation since launching ChatGPT in November 2022, continues to lead the global race for advanced AI models. CEO Sam Altman, on 29th August, confirmed the rapid growth, noting that ChatGPT had crossed 100 million weekly active users last November. OpenAI now boasts that over 90% of Fortune 500 companies are integrating its AI tools, and its automated API usage has doubled…

The World Bank has reiterated its commitment to supporting global digital identity and payment systems through its Identification for Development (ID4D) and Government to Person Payments (G2PX) initiatives. The global financial body aims to help the estimated 850 million people worldwide who currently lack legal and digital identities, while also expanding access to seamless digital payments. This pledge was highlighted in the World Bank’s 2023 ID4D and G2PX annual report titled “Putting People at the Center of DPI.” The report outlines progress in making digital public infrastructure (DPI) a key tool for providing critical public services globally. Released earlier this…

In an epoch where digital connectivity is crucial for economic participation and social inclusion, a new report from the Center for Strategic and International Studies (CSIS) reveals women’s significant obstacles in accessing the digital world. The report highlights that women, especially in low- and middle-income countries, struggle with issues like obtaining formal identification, owning mobile phones, and acquiring digital skills, which are essential for full participation in the digital economy. The CSIS report emphasizes a persistent gender gap in digital access, noting that women are disproportionately affected by barriers that prevent them from engaging in the digital ecosystem. One of…

Dell Technologies has reported a significant boost in its financial performance, with server and networking revenue skyrocketing by 80% in the second quarter of fiscal year 2025, largely driven by AI infrastructure sales. The Texas-based tech giant has closely aligned its strategy with artificial intelligence, positioning itself as a key supplier of AI infrastructure, particularly through its collaboration with Nvidia, a leading provider of GPUs and software for enterprise solutions. Dell’s reported revenue for the quarter, which ended on August 2, reached $25 billion, marking a 9% increase compared to the same period last year. This growth was primarily propelled…

New Zealand’s fixed communication services market is projected to see modest growth, with revenue expected to rise from $1.3 billion in 2024 to $1.4 billion by 2029, according to GlobalData, a leading data and analytics firm. The growth is primarily driven by the increasing demand for fixed broadband services, especially fiber-to-the-home/business (FTTH/B) connections, as the country continues to invest in fiber infrastructure to enhance high-speed broadband capabilities. GlobalData’s latest forecast for New Zealand’s fixed communications sector (Q2 2024) indicates that fixed voice services will experience a slight compound annual growth rate (CAGR) of 0.9% between 2024 and 2029. This marginal…

British hosting company, DataVita has unveiled its new national cloud service, designed to offer clients data residency within the UK while providing full transparency on costs, including no hidden fees or egress charges. Positioned as an alternative to major public cloud providers, National Cloud aims to address challenges faced by organizations in regulated sectors when using public cloud services. As Scotland’s largest data center and cloud services provider, DataVita has partnered with HPE to develop National Cloud, which is built on the HPE GreenLake cloud platform. The infrastructure provided by HPE managed through GreenLake, is touted for its flexibility, allowing…