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Modal, a startup that rents out Nvidia graphics processing units and software to help developers run and train models as well as agents, is in talks to raise money at around a $4.5 billion valuation. That would be an 80% premium to its last valuation from just a few months ago, according to two people with knowledge of the round.
The steep hike in valuation follows a jump in its annualized revenue to around $300 million, up five times from its pace last fall, one of the people with knowledge said. Much of.
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An East Bay apartment complex has been bought at a price that's well below its prior value. Read more âș
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A PG&E Corp. unit has bought a San Jose building in a move to bolster the utility's South Bay operations. Read more âș
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From passive assistance to autonomous execution, AI is changing the game for SMEs. Read more âș
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Indiaâs kirana stores are suddenly in demand. Over the past few months, Meesho acquired Kirana Club; Udaan acquired ShopKirana; and ⊠Read more âș
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A rotation out of this year's best AI and chip stocks sank Asian markets, with South Korea's Kospi down 6%, and crypto fell with them. Bitcoin is down more than 3% on the week. Read more âș
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The White House issued twin executive orders to accelerate U.S. development of large-scale quantum computers while simultaneously hardening defenses against such machines. Read more âș
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The ball is among a collection of NBA Finals memorabilia headed to Sotheby's, including game-worn jerseys and sections of the Madison Square Garden court. Read more âș
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Joan Didion's most quoted sentence is usually read as poetry. A growing body of psychological research suggests it was something closer to a clinical observation about how the self actually holds together. Read more âș
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The Gigabyte MO32U24 is a a no-nonsense gaming monitor that hits the sweet spot for gamers and office workers alike. Read more âș
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The Information
SpaceX announced it agreed to buy AI coding startup Cursor for $60 billion on Tuesday. The announcement came only a few days after SpaceX went public at a valuation of about $1.77 trillion. Since the IPO, SpaceX stock has risen 42% to close on Monday at $193.50, valuing it at $2.5 trillion. The ... Read more âș
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Ornn, a startup that tracks the cost of computing power for artificial intelligence, has launched a service to track the price of tokens produced by the leading AI labs. The new benchmark comes as AI firmsâ customers and financial backers search for better ways to track major AI costs. The Ornn ... Read more âș
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Polymarket and Kalshi are racing to turn more major events into opportunities to place bets, including everything from daily temperature highs during a New York City heat wave to the latest contestant to be eliminated from âLove Island,â the reality TV hit. Thatâs helped the young markets become high-profile sentiment gauges and generate meaningful revenue, with Kalshiâs annualized revenue hitting around $1.5 billion in May and Polymarket pacing at roughly... Read more âș
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Remember the last time Anthropic tussled with the Trump administration, all the way back in February, when a coterie of competing AI researchers and CEOs (even Sam Altman!) quickly came to Anthropicâs defense?Remember the last time Anthropic tussled with the Trump administration, all the way back in February, when a coterie of competing AI researchers and CEOs (even Sam Altman!) quickly came to Anthropicâs defense?That doesnât seem to be happening... Read more âș
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The U.S. military used xAIâs Grok to help plan its bombing missions against Iran earlier this year, according to a court filing from a Pentagon official. A Grok model is deployed as part of Maven Smart Systems, a government AI service, to support âvital national security missionsâ including ... Read more âș
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Robinhood said on Tuesday itâs cutting 10% of its workforce, or about 290 roles, and closing a small number of open roles, in an effort to stay lean. âBecause our financial position is strong, we are making this change proactively,â CEO Vlad Tenev said in a note to employees. âWe must be a lean, ... Read more âș
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Snap on Tuesday unveiled the latest version of its augmented reality glasses, Specs, as it tries to catch up to similar products from Meta Platforms and Google. The device, which will cost $2,195, will offer features like real-time translation, web browsing and video recording, and it will have ... Read more âș
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As AI spending has eaten into corporate budgets, generating concern over rising costs at Fortune 500 firms from Uber to ServiceNow and Snowflake, some companies are beginning to throttle employeesâ usage. The latest is AT&T, which has begun limiting some employeesâ access to Microsoftâs Github Copilot, according to a person at the company. In a more striking example, Meta is also limiting employeesâ AI spending on services from Anthropic and... Read more âș
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The $12 billion valuation that Cyera snagged in a $600 million fundraise announced last week shows how hungry investors were for the cybersecurity startupâs AI-focused pitch. The five-year-old startup sells software that can protect companiesâ data from hackers equipped with increasingly powerful AI toolsâa threat highlighted by Anthropicâs warnings about the cyber capabilities of its Mythos model.For the VC fund Cyberstarts, the Cyera round gives it more bragging rights after... Read more âș
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The U.S. governmentâs latest battle with Anthropic has revived long-simmering concerns throughout the AI industry that the White House has placed a bullseye on their reliance on foreign AI talent. The Trump administration appears to have targeted only Anthropic so far, warning the company on Friday in a letter from Commerce Secretary Howard Lutnick that it would need a license to make its latest models available to âforeign persons,â including... Read more âș
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