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Daily Digest: another 'non' acquisition

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July 01, 2024

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Hello folks, here’s what we have today;

PICKS

  1. New tutorials;

  2. Adept joins Amazon. Adept, the agentic AI startup is changing its leadership. CEO and Co-founder David Luan and a few others are joining Amazon’s AGI team (plus licensing some of Adept’s tech). Looks like Amazon has still cards on the AI table.🍿Our Summary (also below)

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QUICK BITES

Looks like Amazon's cooking up something big in AI, snagging the brains behind Adept and some of their secret sauce. It's giving off major Microsoft-Inflection vibes, minus the antitrust headaches.

What's going on here?

Amazon has hired Adept's cofounders and licensed some of their AI tech, while Adept is shifting gears to focus on agent AI solutions.

What does this mean?

Amazon's beefing up its in-house AI game. They're bringing Adept's CEO David Luan on board to report directly to their AI chief, Rohit Prasad. This move could mean Amazon is looking to rely less on third-party AI providers (looking at you, Anthropic).

Adept's not throwing in the towel, though. They're pivoting to focus solely on agent AI solutions, with some leadership shuffles. Zach Brock's taking the CEO reins, while Tim Weingarten's sticking around as Head of Product.

For Adept, this deal's a lifeline. They were facing a cash crunch and the prospect of endless fundraising to keep their AI dreams alive. Now, they can focus on their agent's vision without the financial pressure.

Why should I care?

This deal is a big hint at where Big Tech is heading with AI. Amazon's clearly gunning to develop more in-house AI muscle, which could mean cooler, more integrated AI features for consumers.

For the tech world at large, it's another sign that the AI talent war is heating up. Big players are scooping up startups left and right, either for their tech, their brains, or both. If you're in the AI game, buckle up—things are getting interesting.

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