Kakao Ventures Backs Korean Startup That Makes AI Models Faster And Cheaper To Run [Forbes]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Forbes
Hyungjun Kim, cofounder and CEO of SqueezeBits. It is enormously expensive to run AI models. A single Nvidia AI chip can cost over $30,000. It costs OpenAI $700,000 a day to operate ChatGPT, according to one estimate . With costs like that, only the biggest companies have the money to develop and run AI. SqueezeBits, a two-year-old startup in South Korea, says it can lower that cost and democratize the hot technology. To help it do that, SqueezeBits recently got support from one of the country's top internet companies. In January, SqueezeBits raised 2.5 billion won (almost $2 million) in pre-Series A funding. The Seoul-based startup declined to disclose valuation, but a person familiar with the matter says the round values SqueezeBits at about $15 million. The round's investors include Kakao Ventures, the venture capital arm of billionaire Kim Beom-su's Kakao, one of South Korea's top two internet companies. “We look at not just how companies will use AI, but also how AI will
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News
- POSCO HOLDINGS INC. Files its Annual Report on Form 20-FPR Newswire
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- POSCO Holdings Inc. (NYSE: PKX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
PKX
Sec Filings
- 4/29/24 - Form 20-F
- 4/25/24 - Form 6-K
- 4/25/24 - Form 6-K
- PKX's page on the SEC website