$100 Billion venture

1. SoftBank's founder, Masayoshi Son, wants to raise $100 billion.
   
   Masayoshi wants to launch a new chip venture called Izanagi, aiming to compete with Nvidia in making chips for AI. This is a big shift for Son as SoftBank focuses less on startups. He aims to create a company that works with Arm Holdings to make powerful AI chips.
   
   If successful, Izanagi could be one of the biggest AI investments ever. Son is still figuring out funding and partners. Despite past setbacks, Son sees Arm as a key opportunity. He's getting advice from Arm's CEO, Rene Haas. However, SoftBank's investment pace has slowed recently.
   
   

2. A former Twilio VP has started Zocks.
   
   Today, Zocks, a startup founded by former Twilio VP Mark Gilbert, announced $5.5 million in funding from Light Speed Venture Partners.
   
   Zocks has developed an AI assistant that helps businesses extract structured data from conversations, saving time on manual tasks. Initially focused on finance, Zocks plans to expand to legal and healthcare industries.
   
   

3. Air Canada is required to honor a refund policy that was made up by its chatbot.
   
   Air Canada had to refund a passenger who followed its chatbot's wrong advice about its bereavement travel policy.
   
   When the passenger's grandmother died, he asked the chatbot about booking a flight and was told he could get a refund later.
   
   But when he tried, Air Canada refused, despite its policy against refunds after booking

See you tomorrow!

The Business Nerd 😎