Loading summary
Transcript1 lines
- [00:01]
A
Hey, this is Jessica Mendoza, host of the Journal Podcast, our show about money, business and power. If you're looking for more deeply reported stories like we share every day, consider becoming a subscriber to the Wall Street Journal. Visit subscribe.WSJ.com TheJournal all lowercase to subscribe now, here's your morning TNB Tech minute for Tuesday, January 20th. I'm Julie Chang for the Wall Street Journal. We are exclusively reporting OpenAI and ServiceNow have signed a three year deal to integrate the ChatGPT maker's AI models into ServiceNow's business software. The deal depends on customers using OpenAI's models within ServiceNow and also includes a revenue commitment from ServiceNow to OpenAI. More specific terms weren't disclosed. ServiceNow, which provides software for IT, customer service and other business operations, will gain leading AI capabilities without building them itself. For example, ServiceNow will use OpenAI's speech focused model to develop AI voice agents for customer service. The deal comes as ServiceNow's revenue grew 22% in the third quarter amid rising AI demand. Baidu's AI assistant has surpassed 200 million monthly active users, according to people familiar with the matter. The company's AI powered earning assistant is integrated into its Flexibility flagship Baidu search engine app and on personal computers. Ernie is linked to widely used apps such as JD.com, meituan and Trip.com, which allows the agent to help book flight tickets, order food delivery and more. Baidu was the first major Chinese tech company to launch a GPT like Chatbot, dubbed Erniebot, in 2023, but has since faced stiff competition in China in the AI field. And Texas rare earth magnet maker Novion Magnetics has secured $215 million in new funding, primarily from One Investment Management. This capital injection, roughly doubling its prior venture capital funding, supports the US Push for domestic sources of the critical electronics component. The US China trade war has led to Chinese export controls on rare earths, which are used in missile defense systems, data centers, electric vehicles and more, according to data provider Pitchbook. Last year venture capitalists invested $630 million in US critical mineral startups, the highest level recorded. And that's your TMB Tech minute. We'll be back this afternoon with more.