AI Update: Twelve Labs Improves Video Analysis & Google Inks Cloud Deal With Anthropic

BREAKING NEWS

Twelve Labs Unveils Pegasus-1: A Breakthrough AI Model for Video Analysis

The startup aims to revolutionize video understanding with its multimodal approach

In a major announcement, Twelve Labs, a leading AI startup specializing in video analysis, has introduced its groundbreaking multimodal model, Pegasus-1. This cutting-edge AI model is designed to analyze videos, generate detailed reports, and break down videos into logical sections, among other tasks.

According to Jae Lee, co-founder and CEO of Twelve Labs, the company's primary objective is to train AI models to tackle complex video-to-text problems. Lee explains that Twelve Labs was founded with the vision of creating an infrastructure for multimodal video understanding. Unlike large language models such as ChatGPT, Twelve Labs' products are specifically tailored for working with video, combining the ability to process visual, audio, and speech components.

The Pegasus-1 model aims to decode videos and describe their contents in natural language, including actions, objects, and background sounds. This powerful tool empowers developers to create programs for video searches, text transcription, auto-summarization, and extracting relevant information.

While the Pegasus-1 model is currently in a closed beta version, the startup is accepting requests to join the waiting list for access to the tool. With approximately 80 billion parameters, Pegasus-1 comprises three mutually learning components: a video encoder, a text-to-video alignment model, and a language decoder. The model was trained using 300 million hand-selected, diverse videos with text transcripts, as well as 1 billion images with natural language descriptions.

Beyond its potential applications in video analysis, Twelve Labs' technology can be utilized in various sectors such as advertising and video content moderation. For instance, the model can determine whether a video featuring knives is part of an educational cooking program or contains scenes of cruelty. Additionally, the tool can be employed for media analytics and auto-generating video titles.

While Twelve Labs faces competition from other startups and tech giants like Google, Microsoft, and Amazon, the company claims that its models stand out in terms of both quality and a broader range of features. The startup's models offer customers the ability to perform more detailed video analysis using their own data. Currently, Twelve Labs boasts over 17,000 corporate clients from diverse industries.

In conjunction with the release of Pegasus-1, Twelve Labs also announced the successful closure of a funding round, raising $10 million. Notable investors in this round include Nvidia, Intel, and Samsung Next, signaling the industry's confidence in Twelve Labs' innovative approach to video analysis.

As the field of AI continues to advance, startups like Twelve Labs are pushing the boundaries of what's possible. With Pegasus-1, Twelve Labs is poised to revolutionize video understanding and pave the way for a new era of AI-powered video analysis.

As the demand for video analysis tools grows, it will be interesting to see how Twelve Labs' Pegasus-1 model performs in real-world scenarios. Will it live up to the hype and deliver on its promise of revolutionizing video understanding? Only time will tell, but one thing is for sure: Twelve Labs is at the forefront of AI innovation, and its impact on the industry is worth keeping an eye on.

OTHER NEWS

Google Bets $2 Billion on AI Startup Anthropic, Inks Cloud Deal: Silicon Valley's AI Frenzy Continues

Google's investment in Anthropic solidifies its position in the AI race while stoking the competition with Amazon

In the latest move in Silicon Valley's ongoing AI frenzy, Google has committed to investing a whopping $2 billion in Anthropic, an artificial intelligence company. This significant investment not only solidifies Google's position in the race for AI dominance but also intensifies the competition with its rival, Amazon.

The deal between Google and Anthropic is structured as a convertible note, which will convert to equity at Anthropic's next funding round. This investment follows Amazon's earlier investment of up to $4 billion in convertible notes in the same startup. It seems that both tech giants are eager to secure their positions in the AI landscape by backing promising AI startups.

According to insiders familiar with the matter, Google's initial investment is $500 million, with a commitment to add an additional $1.5 billion in the future. This investment is on top of the $550 million that Google had already invested in Anthropic earlier this year. The financial commitment from Google highlights the company's belief in Anthropic's potential and its determination to stay ahead in the AI race.

But the investment is not the only move Google has made to strengthen its ties with Anthropic. The tech giant has also signed a major cloud agreement with the AI startup. This cloud deal, which is even larger than the investment itself, will see Anthropic utilizing Google's suite of computing services over multiple years. The cloud agreement further solidifies the relationship between Google and Anthropic and underscores the importance of cloud services in the AI ecosystem.

While Google's investment and cloud agreement with Anthropic are significant, it is worth noting the complex dynamics at play between Google, Amazon, and Anthropic. Google's ties to Anthropic put it in an unusual partnership with Amazon, as both tech giants have made significant investments in the startup. However, Google's cloud deal with Anthropic makes it the primary cloud provider, potentially creating some tension between the two rivals.

Anthropic's recent dealmaking spree has been led, in part, by Vu Bui, its head of strategic finance and investor relations. Bui, who joined Anthropic in September, has been instrumental in orchestrating the company's talks with investors. With Bui's expertise and the backing of both Google and Amazon, Anthropic is well-positioned to continue its growth trajectory.

Looking ahead, Anthropic may consider raising traditional funding in the future, which would result in the conversion of Google and Amazon's shares to equity and a new valuation for the company. While Anthropic had initially discussed a valuation between $20 billion and $30 billion, some investors deemed it too high. Regardless of the valuation, Anthropic's recent investments from Google and Amazon have provided the company with ample cash, reducing the urgency to raise more money.

Google and Amazon's investments in AI startups like Anthropic are strategic moves to secure relationships with companies that are shaping the future of AI. As AI becomes increasingly ubiquitous, the demand for vast computing resources will grow, making AI companies lucrative customers for cloud services.

By investing in and partnering with promising AI startups, Google and Amazon are positioning themselves as the go-to providers for AI companies' computing needs.

The AI race between tech giants is heating up, and Google's $2 billion investment in Anthropic is the latest move in this high-stakes game. As the battle for AI dominance intensifies, it will be fascinating to see how Google and Amazon's investments in AI startups shape the future of the industry.

One thing is for sure: the Silicon Valley AI frenzy shows no signs of slowing down.

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