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Luma AI Launches Ray2 Flash Faster, Cheaper AI Video Model

A streamlined and more affordable version of Luma AIs Ray2 videogenerating technology, Ray2 Flash, has been released. Ray2 Flash, accessible through t

A streamlined and more affordable version of Luma AIs Ray2 videogenerating technology, Ray2 Flash, has been released. Ray2 Flash, accessible through the Dream Machine platform, offers enhanced efficiency and cost for paid users by supporting multimodal inputs, including text and graphics. The model has no subscriber rate constraints and is three times quicker and less expensive than Ray2. Four hundred credits are given to customers on the free tier, while 3,200 credits are included in subscriptions that start at $6.99 a month. Despite its improvements, Dream Machine has been criticised for having poorer timely adherence, mainly when dealing with complicated inputs. With firms like Alibaba and Google revealing their cuttingedge models, Luma AIs most recent release comes amid increasing rivalry in the AI video creation. Read More..

B2B Tech News | 3 days ago      

Meta Unveils AI Training Chip to Reduce Nvidia Dependence

Meta is testing its internal AI training to lower infrastructure costs and lessen the need for the Nvidia chip. If successful, the chip, a component o

Meta is testing its internal AI training to lower infrastructure costs and lessen the need for the Nvidia chip. If successful, the chip, a component of Metas Training and Inference Accelerator MTIA series, will be used on a larger scale. The chip TSMC makes is a specialised AI accelerator that uses less power than conventional GPUs. Due to its AI initiatives, Meta expects to spend up to $119 billion in 2025, including $65 billion on AI infrastructure. Despite earlier failures with inhouse chips, Meta believes this advancement is essential for generative AI and recommendation systems. The action was taken because Nvidias stock performance has been impacted in recent months by growing scepticism over the scalability of massive language models. Read More..

B2B Tech News | 3 days ago      

Mauritius Seeks DTAC Amendments with India to Revive Investment Flows

Mauritius is aggressively revising its Comprehensive Economic Cooperation and Partnership Agreement and Double Taxation Avoidance Convention DTAC with

Mauritius is aggressively revising its Comprehensive Economic Cooperation and Partnership Agreement and Double Taxation Avoidance Convention DTAC with India to regain its position as a preferred investment channel. Inflows of foreign direct investment from Mauritius to India have drastically decreased since the 2016 treaty modification, according to Foreign and Trade Minister Dhananjay Ramful. In addition to establishing Mauritius as a conduit for Indian investors aiming to access African markets, the proposed revisions seek equivalency with Singapores accords. Unresolved points in the DTAC negotiations are still being discussed, and a second joint committee session is scheduled to address trade imbalances and tax difficulties. Mauritius has historically been a significant foreign direct investment FDI source into India, directing USD 175 billion since 2000, or 25% of all FDI inflows into India. Read More..

B2B Tech News | 3 days ago      

Ghana’s Economic Growth Slows to 3.6% in Q4 as Industry Sector Stalls

The industry sector trailed behind with a mere 0.2% gain, causing Ghanas economic growth to decrease to 3.6% yearoveryear in Q4 2024 from 7.5% in Q3.

The industry sector trailed behind with a mere 0.2% gain, causing Ghanas economic growth to decrease to 3.6% yearoveryear in Q4 2024 from 7.5% in Q3. Agriculture increased 2.9%, and the services sector to 6.3%, bringing the years GDP growth to 5.7%. Challenges in the cocoa and gold industries have made the nations recovery from a severe economic catastrophe even more difficult. For the second consecutive month, inflation decreased from 23.5% in January to 23.1% in February, but it is still far above the central banks objective of 8%. Since retaking office in January, President John Dramani Mahama has promised to reduce taxes and spending to increase investment and accelerate economic growth. Read More..

B2B Tech News | 3 days ago      

Standard Chartered Launches Exclusive Private Markets Club for UltraRich Investors

Standard Chartered established the Private Markets CoInvestment Club CIC under its worldwide private banking division to serve ultrahighnetworth inves

Standard Chartered established the Private Markets CoInvestment Club CIC under its worldwide private banking division to serve ultrahighnetworth investors looking for institutionalgrade private market portfolios. By providing members with institutionalgrade due diligence, transaction support, and fast execution, the bank hopes to satisfy the rising demand for alternative investments. Standard Chartereds global head of private banking and affluent customers, Raymond Ang, highlighted how wealthy people move away from traditional investing and into private markets. The bank has teamed up with Ardian, a private investment group, to improve the platform. The action further solidifies Standard Chartereds position in wealth management. It is consistent with the more significant trend of highnetworth investors looking for unique, superior opportunities in private markets. Read More..

B2B Tech News | 3 days ago      

CoreWeave Secures $11.9B OpenAI Deal, Eyes $35B IPO Valuation

To strengthen its position before going public, Nvidiabacked AI firm CoreWeave has inked a fiveyear, $11.9 billion deal with OpenAI to supply AI infra

To strengthen its position before going public, Nvidiabacked AI firm CoreWeave has inked a fiveyear, $11.9 billion deal with OpenAI to supply AI infrastructure. During its initial public offering, OpenAI will receive $350 million in CoreWeave shares through a private placement as part of the agreement. CoreWeave was established in 2017 and is a competitor to AWS and Microsoft Azure, specialising in highperformance AI computing. Despite a rise in revenue to $1.92 billion, its net losses increased to $863.4 million in 2024. Blackstone is one of the primary investors in the company, which has raised around $14.5 billion in capital. CoreWeaves IPO, which is led by Morgan Stanley, JPMorgan Chase, and Goldman Sachs, is expected to list on the Nasdaq with the symbol CRWV and aim for a valuation of at least $35 billion. Read More..

B2B Tech News | 3 days ago      

Absa Group Reports 10% Profit Growth as Credit Impairments Decline

Because fewer retail credit impairments occurred in its native market, South African lender Absa Group recorded a 10% increase in yearly earnings. Gha

Because fewer retail credit impairments occurred in its native market, South African lender Absa Group recorded a 10% increase in yearly earnings. Ghana, Kenya, Zambia, the United Kingdom, and the United States are among the 16 countries where the bank operates. In 2023, it reported headline earnings per share of 26.62 rand. Net interest income climbed 4% to 71 billion rand, driven by a 7% increase in loans and a 12% increase in deposits, while revenue rose 5% to 109.9 billion rand $6 billion. Charges for credit impairment decreased 8% to 14.3 billion rand, while noninterest income increased 6%. Absa also announced a final dividend of 775 cents per share, helped by rate reductions and collection measures. Read More..

B2B Tech News | 3 days ago      

Oracle’s Federal EHR System Suffers Nationwide Outage, Disrupting VA and Military Hospitals

On 4 March, Oracles Federal electronic health records EHR system experienced a nationwide outage that impacted NOAA, the US Coast Guard, the Departmen

On 4 March, Oracles Federal electronic health records EHR system experienced a nationwide outage that impacted NOAA, the US Coast Guard, the Department of Defence, and Veterans Affairs VA hospitals. Due to software freezes and access problems, six VA medical institutions were forced to switch back to backup plans during the 0837–1405 ET outage. Oracle is looking into the failure by starting a rootcause analysis. Despite the inconvenience, the VA is still dedicated to the Oracle EHR system and intends to roll it out to nine additional healthcare locations in 2026. To ensure a more seamless implementation, VA Secretary Doug Collins stressed the importance of an integrated medical records system and promised to prioritise healthcare providers input. Read More..

B2B Tech News | 3 days ago