Photo courtesy of LightOn
French Startup LightOn To Become First GenAI Company Listed In Europe
- Written by Andrea Miliani Former Tech News Expert
- Fact-Checked by Sarah Frazier Former Content Manager
In a Rush? Here are the Quick Facts!
- LightOn will become the first generative AI company to be listed in the European market
- The shares are offered at a subscription price of 10.35 euros each
- After the IPO period, the French startup expects to reach a 50 million euros valuation
The French generative AI startup LightOn launched today its initial public offering (IPO) in Paris on the Euronext Growth market.
According to Reuters, the listing is expected by the end of November, and the company would become the first one in Europe to make it into the stock exchange market.
LightOn—founded in 2016—offers a Large Language Model (LLM) software service to the French government and other businesses.
“We are pioneers in Generative AI, building secure and customizable solutions for enterprises to improve productivity and competitiveness,” states the Startup’s website .
LightOn offers its clients an AI assistant called Alfred, a platform called Paradigm, and other generative AI solutions.
With the new shares in the market, the company expects to expand and increase revenues. “This planned IPO offers investors a unique opportunity to participate directly in the growth of a French technology champion that is already successfully deploying its AI solutions with major groups in France and abroad,” said Igor Carron and Laurent Daudet, LightOn co-CEOs, in a statement.
The shares are offered at a subscription price of 10.35 euros each, the period for sales begins today and ends on November 20th. The settlement is expected for the 25th and the first day of trading the following day.
LightOn expects to reach a 50 million euro valuation and aimes for revenue of 40 million euros by 2027.
Other competitors, like Germany’s DeepL and France’s Mistral, have preferred to remain private and raise funds.
Other French startups have been using AI to expand services and offer new products in the market. Alan, the company specializing in health insurance, recently launched a new health assistant for its 680,000 customers.
Image from Ai-Darobot
Artwork by Humanoid Robot Sells For $1.08 Million
- Written by Kiara Fabbri Former Tech News Writer
- Fact-Checked by Sarah Frazier Former Content Manager
In a Rush? Here are the Quick Facts!
- The artwork surpassed pre-sale expectations, with 27 bids placed.
- Ai-Da, an AI-powered humanoid robot, created the portrait.
- Turing’s portrait explores AI’s ethical implications and God-like nature.
A portrait of English mathematician Alan Turing has made history as the first artwork by a humanoid robot to be sold at auction, fetching US$1.08 million (£566,000, A$1.63 million) at Sotheby’s in New York on Thursday, as reported by The Guardian .
The 2.2-meter (7.5 feet) portrait, was part of a series titled A.I. God. The artwork, titled Portrait of Alan Turing , was created by Ai-Da , the world’s first ultra-realistic robot artist, as noted by The Guardian.
Ai-Da, who uses AI to communicate, said, ‘’I create art to encourage discussions over new technologies.’’
Turing, a key figure in the development of computing and a codebreaker during World War II, expressed concerns about AI in the 1950s, a theme Ai-Da’s portrait subtly explores, as noted in The Guardian.
Ai-Da said, “The key value of my work is its capacity to serve as a catalyst for dialogue about emerging technologies.” The robot further explained that the portrait of Turing invites viewers to reflect on AI’s “God-like nature” and its ethical and societal implications, as noted by The Guardian.
Interestingly, the artwork surpassed pre-sale expectations of $120,000 to $180,000, attracting 27 bids in total, said The Guardian.
Sotheby’s hailed the sale as a landmark moment for the intersection of artificial intelligence and the global art market.
“Today’s record-breaking sale price for the first artwork by a humanoid robot artist to go up for auction marks a moment in the history of modern and contemporary art,” the auction house stated, as reported by The Guardian.
Ai-Da was developed by Aidan Meller, a modern art specialist, and a team of AI experts from Oxford and Birmingham universities, as reported by The Guardian.
Meller, who guided Ai-Da’s creative process, noted that the robot’s artwork—stated “This auction is an important moment for the visual arts, where Ai-Da’s artwork brings focus on artworld and societal changes, as we grapple with the rising age of AI,” as reported by ARTnews .
“The artwork ‘AI God’ raises questions about agency, as AI gains more power,” he added.
Ai-Da, who draws inspiration from conversation rather than imagination, responded to the Guardian in 2022 , “I like to paint what I see. I have been seeing different things to humans as I do not have consciousness.”
View this post on Instagram A post shared by Ai-Da Robot (@aidarobot)
