Blackpoint Cyber Secures $190 Million, OpenAI Competitor Mistral Secures $113 Million, and OpenAI Releases New Generative Text Features While Reducing Pricing

Hello! 🙋We have the following Product updates for you today! 📣

• Blackpoint Cyber Secures $190 Million.
• OpenAI competitor Mistral secures $113 million.
• OpenAI releases new generative text features while reducing pricing.

Blackpoint Cyber Secures $190 Million

Blackpoint offers around-the-clock MDR (Managed Detection and Response) services to counter cyber-attacks. Their advanced tech quickly detects and responds to threats, containing compromised endpoints and stopping unauthorized access.

Blackpoint’s MDR platform, SNAP-Defense, guarantees continuous monitoring, quick threat identification, and effective incident handling. It provides a comprehensive solution to protect against various threats, including insider threats, ransomware, and cloud-based attacks.

Recently, the company raised $190 million in a series C round led by Bain Capital Tech Opportunities, with participation from Accel and other investors. The company secured $201.4M in funding over three rounds.

Blackpoint’s MDR solution quickly detects and isolates threats upon breach. Their 24/7 SOC investigates and counters suspicious activity in real time without relying on customer response.

OpenAI competitor Mistral secures $113 million

The recently founded startup, Mistral, which has a mere four weeks of existence, has successfully raised a substantial amount of $113 million during its initial funding phase. This venture is led by individuals who previously held positions at prominent organizations such as Google’s DeepMind and Meta.

Mistral was co-founded by three friends, Guillaume Lample, Arthur Mensch, and Timothee Lacroix. Notably, Guillaume Lample played a key role in leading Meta’s extensive language model, LLaMA, while Mensch contributed his skills at DeepMind’s Paris division, and Lacroix operated within Meta’s Paris-based AI team.

The company will compete against the world’s top AI company OpenAI, in building large language models (LLM) and Generative AI. The company is expecting to release its first text-generative AI model in 2024. 

The company acknowledges the participation of French investment bank Bpifrance and former Google CEO Eric Schmidt as esteemed shareholders in their enterprise.

OpenAI releases new generative text features while reducing pricing

OpenAI has made an announcement regarding updates to their text generation models accompanied by a reduction in pricing. OpenAI released new versions of GPT-3.5-turbo and GPT-4. The developers can now use function calling to prompt the models to generate executable code for specified programming functions.

Function calling in software development aids in creating chatbots that can handle inquiries by invoking external tools. This functionality also allows the conversion of natural language to database queries and the extraction of structured data from text.

OpenAI reduces GPT-3.5-turbo pricing to $0.0015 per 1,000 input tokens and $0.002 per 1,000 output tokens, offering approximately 700 pages per dollar.

OpenAI is reducing the pricing for their popular text embedding model, text-embedding-ada-002, to $0.0001 per 1,000 tokens, reduced by 75%.

For more updates, check out the Latest Tech category.