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Photo: Smith Collection/Gado/Getty Images

An AI company with energy applications is emerging from stealth mode with $10 million from backers including VC arms of Chevron and the Malaysian oil giant Petronas.

Driving the news: Worlds, a spatial AI company being spun out of the firm Hypergiant Sensory Sciences, announced the Series A funding led by Align Capital.

  • The company's technology "combines deep learning and IoT inside of a 4D environment to give organizations the ability to observe their organization’s physical space and then, analyze and learn from their physical surroundings," the announcement states.

The intrigue: It's the first disclosed investment from San Francisco-based Piva, the recently launched VC firm that's a Petronas subsidiary but is structured to operate independently from the Malaysian company.

What they're saying: Piva CEO Ricardo Angel, in a new blog post, said companies like Worlds can play a "critical part" in the energy sector's future.

  • "We’re seeing many corporations in verticals such as oil and gas, manufacturing and logistics, investing in hardware solutions often generating too much data without getting valuable insights," he writes, making the case that companies like Worlds can help make sense of it.

Go deeper: $250 million venture capital firm Piva targets the energy industry

Go deeper

49 mins ago - World

U.S. strikes Iran-backed militia structures in Syria

President Biden at the Pentagon on Feb. 10. Photo: Alex Brandon - Pool/Getty Images

The United States on Thursday carried out an airstrike against facilities in Syria linked to an Iran-backed militia group, the Pentagon announced.

The state of play: The strike, approved by President Biden, comes "in response to recent attacks against American and Coalition personnel in Iraq, and to ongoing threats to those personnel," Pentagon press secretary John Kirby said in a statement.

Senate parliamentarian rules $15 minimum wage cannot be included in relief package

Photo: Al Drago/Getty Images

The Senate parliamentarian ruled Thursday that the provision to increase the minimum wage to $15/hour cannot be included in the broader $1.9 trillion COVID relief package.

Why it matters: It's now very likely that any increase in the minimum wage will need bipartisan support, as the provision cannot be passed with the simple Senate majority that Democrats are aiming to use for President Biden's rescue bill.

Dave Lawler, author of World
1 hour ago - World

Biden's big Saudi reset

Mohammed bin Salman. Photo: Ryad Kramdi/AFP via Getty

President Biden spoke with Saudi Arabia's King Salman this evening ahead of the release of a CIA report expected to implicate the king's son, and the kingdom's de facto ruler, in the murder of a U.S.-based journalist, Jamal Khashoggi.

Why it matters: In one month, Biden has ended support for the Saudi war effort in Yemen, frozen a large arms deal and snubbed Crown Prince Mohammed bin Salman (MBS) by declining to speak with him directly.