Twelve Labs has raised $30 million in funding for its efforts to train video-analyzing models. The San Francisco-based company has received strategic investments from notable enterprise infrastructure providers Databricks and SK Telecom as well as Snowflake Ventures and HubSpot Ventures. Twelve Labs targets customers using video across a variety of fields including media and entertainment, professional sports leagues, content creators and business users. The funding coincides with the release of Twelve Labs’ new video foundation model, Marengo 2.7, which applies a multi-vector approach to video understanding. Continue reading Twelve Labs Creating AI That Can Search and Analyze Video

Perplexity is a year-old AI startup whose conversational “answer engine” has gained attention as a potential challenger to conventional search. Two months ago the venture raised $73.6 million in Series B funding from investors including Nvidia and Amazon founder Jeff Bezos via his Bezos Expeditions, resulting in a valuation of about $520 million. Now the company is said to be finalizing another cash infusion that is predicted to double its valuation to roughly $1 billion. The current financing round is reportedly being led by former Y Combinator partner Daniel Gross through his own investment fund. Continue reading AI Startup Perplexity Targets $1B Valuation with New Funding

Netflix co-CEO Ted Sarandos met with South Korea President Yoon Suk Yeol during the Asian dignitary’s U.S. visit this week, prompting the company to commit a cool $2.5 billion toward the creation of Korean series, films and unscripted shows over the next four years. The amount is twice what Netflix has invested in the Korean market since it began streaming there in 2016. Netflix’s Korean partnership has produced global hits including “Squid Game,” “The Glory” and “Physical: 100.” “We have great confidence that the Korean creative industry will continue to tell great stories,” Sarandos said after meeting with Yoon in Washington, D.C. Continue reading Netflix Planning to Invest $2.5 Billion in South Korean Content

South Korea is on the verge of becoming the first country to initiate legislation that would provide consumers with the choice of which app payment provider to use. The Telecommunications Business Act, which is “almost certain” to pass a vote in the assembly, could end the “effective duopoly” of Apple and Google. It would also enable companies like Epic Games to transact directly with users and avoid hefty commissions charged by those two companies. In the U.S., Apple and Google face legislative actions and an Epic Games lawsuit. Continue reading South Korea to Let Consumers Select App Payment Provider

Niantic, the company that successfully created augmented reality experiences of Pokémon, Harry Potter and other intellectual properties, revealed its plans to offer its own consumer AR platform, with hardware, software and support for third-party developers. The Niantic Planet-Scale AR Alliance is a coalition of cell phone partners, including Deutsche Telekom, EE, Globe, Orange, SK Telecom, SoftBank Telus and Verizon that will distribute “exclusive 5G-ready AR content,” publicly demonstrating 5G consumer AR experiences. Continue reading Niantic Gathers Telecom Dream Team to Advance AR Content

Verizon Communications debuted its first 5G wireless service in parts of Chicago and Minneapolis, the same day that South Korean carriers rolled out their services in parts of Seoul. Both groups sped up their 5G launch to lay claim to being the world’s first to offer 5G services. South Korea’s two largest carriers, SK Telecom and KT Corporation (formerly Korea Telecom), claim to be first to sign up 5G subscribers. Being first in 5G is a way to advertise technology strengths, but it’s not very important to consumers choosing their wireless providers. Continue reading U.S., South Korea Carriers Claim Title of First to Roll Out 5G

In South Korea, where eSports was born, a world championship match-up between the Chinese team Invictus Gaming and European team Fnatic was watched by tens of millions of fans around the world. The two battled out the championship finals of “League of Legends” in a 50,000-seat stadium in Incheon, where the Chinese team won the championship for the first time. Riot Games’ “League of Legends” (dubbed LoL by fans), released ten years ago, is still highly esteemed in the $13 billion global gaming industry. Continue reading ‘League of Legends’ Tournament Highlights eSports Growth

Samsung announced it is partnering with SK Telecom to build a LoRaWAN network to cover all of South Korea, claiming it would be the world’s first nationwide network for the Internet of Things. The IoT network rolls out in Daegu next month and will be available throughout the country by the middle of this year. LoRaWAN (which means “long-range wide-area network”) was already used to build a citywide IoT network in Amsterdam. “LoRaWAN represents an attempt to standardize LPWAN (low-power wide-area networks),” explains TechCrunch, “which are meant to offer a cheaper and more power-efficient alternative to Bluetooth, Wi-Fi, and cellular networks for the Internet of Things.” Continue reading Samsung, SK Telecom to Build First Nationwide Network for IoT

Verizon is already developing a 5G cellular network, the next generation of wireless technology following 4G LTE. Chief financial officer Fran Shammo says the company plans to launch the first 5G network in the U.S. Verizon hopes to begin trials of the 5G network as early as this year, but the technology probably won’t be widely available until 2020. Verizon says the 5G network is different from the LTE network because 5G is designed to accommodate demands of the Internet of Things. Continue reading Verizon Plans to Test 5G Network Technology in U.S. in 2016

Korea’s largest mobile operator, SK Telecom rolled out its new LTE-Advanced broadband service last week. South Korean customers will now have access to 4G wireless network speeds up to 225Mbps (three times faster than other current mobile connections). This speed will allow users to download 800MB movies in less than half a minute. A new version of the Samsung Galaxy S5 will be the first to support LTE-A speeds, while LG and Pantech plan to launch compatible devices next month. Continue reading SK Telecom Introduces New LTE-Advanced Broadband Service

Carrier aggregation allows for splicing and rearranging of the electromagnetic spectrum to create a super-charged network connection. A number of companies are experimenting with the technology, while networks in Asia are already touting faster speeds and breakthroughs in 4G. In June, SK Telecom announced its LTE-Advanced service with speeds two times faster than that of LTE, and 10 times faster than 3G. South Korea’s LG U+ followed in July, leaving Europe and North America to play catch up. Continue reading LTE Networks in Asia Could Set the Stage for U.S. and Europe