InMobi Raises $100 Million for New AI Acquisitions and Development - 1

Photo by Owen Michael Grech on Unsplash

InMobi Raises $100 Million for New AI Acquisitions and Development

  • Written by Andrea Miliani Former Tech News Expert
  • Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor

According to the press release , MARS Growth Capital, along with MUFG and Liquidity Group, participated in the financial agreement.

The Singapore-based startup is working on strategies to improve engagement and study how users consume content. With the new funding, they expect to power machine learning and AI features, as well as potentially acquire AI-focused businesses and products.

“AI is the bedrock of both InMobi’s consumer and enterprise businesses, and we are using it to power the revolutionary lock screen experiences and InMobi Advertising’s platforms. We are reimagining how ads can be made truly native by driving superior engagement and outcomes for consumers, advertisers and publishers,” said InMobi’s CEO, Naveen Tewari. “We’re pleased to have the confidence and funding from MARS Growth Capital to further accelerate our growth trajectory.”

The startup has been backed by investors to develop high-performing technology and expand AI efforts.

“AI is redefining the way businesses operate and create value, and InMobi is well-positioned to leverage its capabilities across multiple spaces in consumer and advertising technology,” said the Head of APAC, Managing Director at Liquidity and MARS Growth Capital, Navas Ebin. “A business of InMobi’s scale requires an agile tech-driven growth partner. We’re thrilled to work with InMobi to power their next wave of innovation in AI and consumer internet verticals.”

The startup valued at around $10 billion, has employees across 50 countries, and is planning an initial public offering (IPO) next year in India.

Sony Launches New PlayStation 5 Pro for $700 - 2

Photo by Mahtab Mashuq on Unsplash

Sony Launches New PlayStation 5 Pro for $700

  • Written by Andrea Miliani Former Tech News Expert
  • Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor

Sony announced a new console, the PlayStation 5 Pro (PS5 Pro), with better graphics and new features for $699. Pre-orders will be available starting September 26th directly from PlayStation and other retailers on October 10th.

“I’m incredibly proud to announce the next step in that evolution and welcome PlayStation 5 Pro to the PlayStation family – our most advanced and innovative console hardware to date,” wrote Hideaki Nishino, CEO of Sony Interactive Entertainment’s Platform Business Group.

Keeping creators and players in mind, the PlayStation team developed a new product with key performance features. Among the main upgrades, the company highlighted an enhanced GPU with “67% more Compute Units than the current PS5 console and 28% faster memory.” Players can expect a faster and smoother device than previous versions. Players can expect more realistic images with better lighting and more accurate visual experiences as it also includes more powerful ray tracing, casting rays up to three times faster than the PS5.

PlayStation also introduces AI-powered features on its PS5 Pro, with the new PlayStation Spectral Super Resolution, a new feature that will help refine images adding more clarity and “an extraordinary amount of detail.”

The company also announced that several games like Assassin’s Creed: Shadows , Hogwarts Legacy , Final Fantasy 7 Rebirth , Marvel’s Spider-Man 2 , Ratchet & Clank: Rift Apart , and The Last of Us Part II Remastered , will get free software updates to adapt to the new PS5 Pro features.

The news has been shared on social media by PlayStation and other users. However, many users on X have complained about the price—40% more than the regular PS5— and the fact that the new console does not include a disk drive.

The journey continues with PlayStation 5 Pro. ⚬ Larger GPU ⚬ Advanced ray tracing ⚬ AI-Driven upscaling ⚬ PlayStation Spectral Super Resolution Full details: https://t.co/TzMEbfbaH8 pic.twitter.com/kXu69olPNZ — PlayStation (@PlayStation) September 10, 2024

“At £700?? For a console with no new games or disc drive? Did you get the Concord PR team to write this statement?!,” wrote one user on X referring to the online shooter game recently launched and taken offline just two weeks after its release. “Very cool but no disk drive. This makes it immediately a no-go,” wrote another.