Spain invests big to boost the production of Electric Car

The Spanish government has said that it will be investing 4.3 billion euros ($5.1 billion) from its share of European pandemic recovery funds to revamp and boost its automobile industry. Spain aims to steer the manufacturing of electric vehicles (EV) and their components, Spain’s Prime Minister Pedro Sánchez stated. He also said that this investment will be a real revolution for the Spanish economy, which will bring an estimated 19 billion euros ($22.5 billion) in additional private investment.

Spain’s left-wing coalition government is aiming to inject the money in various automobile segments like the car manufacturing chain, from lithium extraction to electric battery cell assembly lines. The country plans to transform Spain's automobile sector with the 140 billion euros ($166 billion) that the country is expected to receive in the next six years from the EU's Next Generation funds.

The Spanish Cabinet is set to approve the automobile plan. With this the automobile companies will be able to apply for funding immediately after, with the first disbursements, which is expected to arrive in September.The Prime Minister also said that the country is investing one billion euros in electric vehicle manufacturing unit and another billion euros will go to install new public electric plug-in points.

 

Aidoc Raises $66 Million in Series C

The leading provider of AI solutions for medical imaging Aidochas raised $66 million in Series C funding. The round was led by General Catalyst. The company has raised $140 million in funding to date.

Aidoc helps medical specialists to help flag acute anomalies in real time, expediting patient treatment and improving quality of care. Aidoc’s healthcare AI platform is currently used by radiologists in health networks, hospitals and radiology groups worldwide and has analyzed over 8M cases to date.

“This investment comes after significant milestones; expanding our product lines, doubling our FDA clearances and quadrupling our customer base,” said Aidoc co-founder and CEO EladWalach. “We are experiencing a huge expansion, which is also a direct result of C-level executives adopting an AI strategy and integrating our platform as a must-have solution across clinical pathways. It is truly rewarding – and a great responsibility – to be the trusted partner of the most innovative health systems and physician practices across the globe.”

There has been a surge in demand for Aidoc’s AI-driven solutions, including the largest clinical deployment of AI in healthcare through its partnership with Radiology Partners. The company will expand its comprehensive platform post this funding round.

 

Renowned Defense technology startup Red 6 shifts its headquarters to Miami

Red 6, a defense technology company that primarily develops augmented reality technology for military training, in a recent press meet has announced that it has opened two new locations in Florida: A headquarters office in downtown Miami and a technology hub in Orlando.The company is thrilled to be one of the many businesses recognizing the benefits and opportunities Florida has to offer.

Red 6 has recently created the Airborne Tactical Augmented Reality Systems that uses augmented reality technology to enable pilots to see synthetic threats while flying. This particular system allows pilots and ground operators identify those threats in real-time, high-speed environments to aid military training exercises.

The company has stated that the new headquarters will place the startup in proximity to the U.S. Army, Air Force, Navy, and Marines operations in the city's Central Florida Research Park, which is largest science and technology research campus in the state. As of now, the company has 40 employees, and it plans to boost that number to 100 in the next two years. The company did not specify what positions it will be hiring for or how many will be based in its Miami office.

 

 

Dogecoin Gains 8 Percent Profit after Elon Musk’s Tweet in Support of the Cryptocurrency

Elon Musk has thrown his weight behind Dogecoinmany times and it is not a secret now that he wants to take it to the next level. His tweets about the ShibaInu face-themed currency, now has a staggering market cap of Rs. 2.1 trillion. The Tesla CEO warned that Bitcoin and Ethereum — the world's two biggest cryptocurrencies — were pursuing a multi-layer transaction system, but their transaction rate was slow and the cost was really high.

Musk’s comment came as a response to a tweet by Dogecoin investor Matt Wallace. "Reminder: The Dogecoin update is coming soon. It will position Doge perfectly to become one of the most used currencies in the world," tweeted Wallace. Replying to the tweet, Musk wrote, "BTC [Bitcoin] and ETH [Ethereum] are pursuing a multilayer transaction system, but base layer transaction rate is slow and transaction cost is high."

In recent times, Doge is maximizing base layer transaction rate and minimizing transaction cost with exchanges. Following an active presence and explanation of various aspects of Dogecoin by Musk, the Cryptocurrency token which was dipped nearly 10 percent has gained eight percent gain.

 

Key partnerships and top AI projects have helped Microsoft to breach the $2tn mark

Recently, tech giant Microsoft became the second publicly traded company in the US to achieve 2 trillion market capital after Apple. The company was able to achieve this feat just two years after reaching the 1tn mark. Some of the major projects taken up by the company were responsible for this spike. Back in 2019, Microsoft had invested $1 billion in OpenAI to build AI. The main motto of the partnership was to develop new software, and hardware platform within Microsoft’s Azure targeted towards Artificial General Intelligence (AGI).

 The tech giant also became the company’s exclusive cloud provider. OpenAI had stated in its blog that it would be partnering and working with Microsoft to extend the capabilities of Azure in large-scale AI systems. Under this partnership, Microsoft was responsible for building one of the top five supercomputers in the world. The facility has been made available for researchers working with Azure. Last September, Microsoft partnered again with OpenAI to gain an exclusive license for GPT-3. The tech giant was keen on gaining exclusivity because the new solution will help the company expand its AI platform to create new services and products. Microsoft's key partnership only helped it achieve the incredible feat to become a 2tn company.