Will 2026 be the year of AI IPOs?
With CoreWeave’s listing in the US and Fractal Analytics poised to become the first AI pure-play Indian company to go
- Published on August 10, 2023
- In AI Features
Meta’s Double Helix & Farewell to Protein Folding
Meta has laid off the team behind the protein structure prediction model, ESMFold, in an attempt to focus more on generative AI-garnered business profits
- By Shritama Saha
After abandoning its metaverse dream, Meta has laid off its protein folding team that built the revolutionary ESMFold or Evolutionary Scale Modelling for protein structure prediction, exactly two years ago. The 12-member team also created a comprehensive database of over 600 million protein structures.
The move indicates Meta shifting its focus from life sciences to generating revenue from commercial AI. During the second quarter of 2023, the company achieved its highest level of profitability since 2021. On the advertising front, there was a notable 34% annual growth in the number of ad impressions displayed across their suite of applications. No wonder the Facebook owner is giving up on protein-folding ambitions.
As per a report by Financial Times, Yaniv Shmueli, a form
📣 Want to advertise in AIM? Book here
Shritama Saha
Shritama (she/her) is a technology journalist at AIM who is passionate to explore generative AI with a special focus on big techs, database, healthcare, DE&I, hiring in tech and more.
Related Posts
Fighting Deepfakes May Not Be a Technology Problem
Defenders must be active at all times, while attackers need only one opportunity.
India’s Data Centre Expansion Is Decentralising
Without compute buildup beyond metros, the next wave of digital adoption will be constrained
How Mumbai Keeps Winning India’s Data-Centre Race
Land prices are among the highest in the country, but total build economics remain competitive by global standards.
From Shortages to Scale, io.net’s Approach to Rewriting AI Compute Access
A decentralised GPU marketplace may scale AI compute faster than traditional clouds, as GPU demand towers over supply
Why Deloitte Built a Tax AI That Knows When to Say ‘I Don’t Know’
The company has launched an agentic AI platform for tax research that’s targeting something radical in a conservative profession.
Can India’s AI Copyright Plan Survive Legal and Technical Scrutiny?
India’s ambitious proposal for a single mandatory AI training licence faces feasibility, legal and innovation concerns.
2026 Could be India’s Year in AI, But Only the Resilient Will Survive
“This isn’t a freeze. It’s a filter… By 2026, the real signal will be resilience, not rhetoric.”
Download the easiest way to
stay informed
stay informed
