Technology Weekly News: Week 1, January 2024

Microsoft Copilot is now available on iOS and Android

Over the holidays, Microsoft quietly launched Copilot, an AI-powered app available on Android, iOS, and iPadOS. Similar to OpenAI's ChatGPT, Copilot uses GPT-4 technology for tasks like drafting emails, summarizing text, creating designs with DALL·E 3, and more.

Since its release, Copilot has seen over 1.5 million downloads worldwide across Android and iOS. It offers GPT-4 access for free, unlike the usual charges for GPT-4 usage.

This mobile launch follows Microsoft's rebranding of Bing Chat to Copilot and may indicate a shift from the Bing app. Copilot was already on the web, but this move aims to expand its standalone presence.

23andMe tells victims it’s their fault that their data was breached

Following a major data breach affecting 6.9 million users, 23andMe is facing over 30 lawsuits. In an attempt to avoid responsibility, the company is blaming users for negligence in handling passwords. They claim the breach wasn't their fault because users reused passwords from unrelated incidents. Critics argue 23andMe should have anticipated this and improved security.

Despite 23andMe's efforts to reset passwords and enforce better security measures post-breach, their changes to terms of service to prevent collective legal action didn't stop the flood of lawsuits. In short, their attempt to shift blame and shield themselves from legal consequences hasn't deterred the backlash from affected users.

Intel spins out a new enterprise-focused GenAI software company

Intel is launching Articul8 AI, a spinoff created with DigitalBridge, to boost their AI enterprise software presence. Born from a collaboration with Boston Consulting Group, Articul8's software, initially for BCG, now targets industries prioritizing security and specialized knowledge. Led by former Intel VP Arun Subramaniyan, the spinoff aims for broad deployment options while safeguarding data. Intel plans to utilize Articul8 internally and in partnerships, aligning with their CEO's strategy for competitive chip technology and software offerings.

Bitcoin gives back Tuesday’s new year rally as traders weigh ETF decision, Fed policy

Bitcoin's rally wavered amid concerns over Federal Reserve policies and the SEC's ETF decision. The cryptocurrency, along with Ether and major coins, saw declines from 4% to 10%. Investors fear an ETF delay, prompting position unwinding. Analysts view dips as potential buying opportunities.

The crypto market appears overheated, indicated by higher prices and funding rates. Bitcoin's funding rates resemble 2021 levels, signaling possible instability due to leveraged prices.

Richmond Federal Reserve's warnings about interest rate hikes contribute to market uncertainty. This trend affects stocks, bonds, gold, and the dollar.

January historically isn't consistently favorable for bitcoin. Despite fluctuations, it surged 157% in 2023 after a consolidation in December.

This startup hopes to take on Canva, raising an $11.6M Series A for its design platform

Kittl, a Berlin startup, secured $11.6 million in Series A funding for its user-friendly design platform, aiming to simplify complex design processes. Led by Left Lane Capital and supported by Speedinvest and notable angel investors, Kittl aims to democratize professional-grade graphic design. Co-founded by Nicolas Heymann and Tobias Saul, the platform emphasizes removing learning barriers and plans to enhance AI and machine learning capabilities to stay ahead of industry shifts.

Cloud-native cybersecurity startup Aqua Security raises $60M and remains a unicorn

Israeli cybersecurity startup Aqua Security secured an additional $60 million in funding, expanding its Series E round to a total of $195 million. With customers like PayPal, Netflix, and Samsung, Aqua offers a wide range of cloud security services, from workload protection to vulnerability scanning.

Since its launch in 2015, Aqua Security has amassed a total funding of approximately $325 million. The Series E extension was led by Evolution Equity Partners, a cybersecurity-focused venture capital firm, with participation from existing investors like Lightspeed Venture Partners and Insight Partners.

While this injection signals investor confidence, Aqua's valuation appears unchanged from three years ago, hovering around $1 billion. This static valuation might hint at challenges, but the involvement of a new lead investor also presents an opportunity for external validation.

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