Shares of database provider Snowflake jumped more than 19% in the wake of its report after dropping less than 1% in regular trading. Investors seemed to be encouraged that the company sailed well past its earlier quarterly product revenue projections and raised its full-year ... Read more ›
0
Tempus, a medical lab testing and data company started by a former co-founder of Groupon, has hired Morgan Stanley to run an initial public offering in the coming months, people close to the process said. The Chicago-based startup, which has raised more than $1.3 billion in private funding from investors such as Google, New Enterprise Associates and Baillie Gifford, would add to the backlog of venture-backed startups aiming to go... Read more ›
0
For all the hype around generative AI, we have yet to see much evidence that this new technology is lifting the top lines of customers who are spending money on it. That’s left many buyers to wonder: When will we see those long-touted returns from AI?My colleagues and I tackled that question in this story today, which reported that customers of cloud providers are being cautious about spending too much... Read more ›
0
In the past year, major technology firms have championed generative artificial intelligence as the next big thing, boosting the stock market to new highs. But behind the scenes, representatives of major cloud providers and other firms that sell the technology are tempering expectations with their salespeople, saying the hype about the technology has gotten ahead of what it can actually do for customers at a reasonable price. Several executives, product... Read more ›
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As the Chinese government races to catch up in advanced computer chips, it has found an ally in ByteDance, the owner of TikTok. The Chinese tech company has quietly bought a stake in InnoStar Semiconductor, a Shanghai-based memory chip firm backed by the Chinese government, according to corporate records in China and Singapore. A ByteDance spokesperson confirmed the previously unreported investment and said it was meant to help advance the... Read more ›
3
We’re in for a long few weeks as the ban-or-sell TikTok bill winds its way through Congress. The few moments of action we’re likely to see—such as this week’s vote in the House of Representatives—will be overwhelmed by lots of rhetorical shadowboxing between the various combatants. Today, for instance, the two congresspeople who sponsored the bill attacked TikTok for telling people the legislation was a “ban bill.” The congresspeople claimed... Read more ›
0
When Morgan Stanley first worked on Elon Musk’s $44 billion Twitter acquisition in April 2022, bankers estimated fees on the deal could reach $150 million or more, according to two people who saw the terms. But that wasn’t the only payoff the bank saw from its involvement in the deal: Morgan Stanley also hoped to strengthen its existing relationship with Elon Musk, whose empire of companies offers the potential for... Read more ›
0
OpenAI’s late-Friday announcement of three new board members, as well as the reinstatement to its board of CEO Sam Altman, is a pivotal moment for the ChatGPT-creator, valued most recently at $86 billion. It’s now clear that the board has shed its origins as a quirky group of academics and techies with ties to under-the-radar movements like effective altruism. Now, OpenAI seems to be saying: take my board of directors... Read more ›
0
In 2013, Landon Mossburg, then 29, was hired by Tesla to work on its supply chain team. Tesla threw him into negotiations with the senior executives of cellphone, internet and tech companies to secure internet connectivity deals that would feed Tesla’s over-the-air software updates. Mossburg had a bachelor’s degree in business and had worked as a consultant for Accenture and KPMG. But business wasn’t really a passion for him—writing code... Read more ›
0
In 2013, Landon Mossburg, then 29, was hired by Tesla to work on its supply chain team. Tesla threw him into negotiations with the senior executives of cellphone, internet and tech companies to secure internet connectivity deals that would feed Tesla’s over-the-air software updates. Mossburg had a bachelor’s degree in business and had worked as a consultant for Accenture and KPMG. But business wasn’t really a passion for him—writing code... Read more ›
7
Welcome, Weekenders! In this newsletter:The Silicon Valley rising star who angered AndreessenHow a white-collar pirate pilfered the richA million-dollar strawberry that venture capitalists cravePlus—Oscars weekend! A digital shortcut to enjoying this year’s biggest films and what the Academy should do in the years to come.A week ago, I bent the rules of time and space to revisit an experience I’d long forgotten: seeing a movie on opening weekend. Yep, like... Read more ›
0
If you’re one of those people who was obsessed with last November’s OpenAI drama, you can wipe it from your memory. The ChatGPT creator put CEO Sam Altman back on its board late Friday, we scooped (the company later confirmed the details in this blog post). You may remember, unless you’ve already erased your memory, that Altman lost his board seat when he was fired in mid-November, triggering a dayslong... Read more ›
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In a surprise move, OpenAI CEO Sam Altman is rejoining the board of directors of the non profit that oversees the artificial intelligence developer, according to a person with knowledge of the situation. The decision to reinstate Altman to that position comes four and a half months after the board fired and rehired him in a matter of days, triggering an employee revolt that nearly collapsed the ChatGPT creator. Also... Read more ›
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A few months after JPMorgan Chase bought the collapsed First Republic Bank last year, Eric Bahn decided he needed a new home for his money. The general partner and co-founder of Hustle Fund, a $130 million fund that invests in pre-seed and seed companies, had been a First Republic customer for years. He liked its capital call credit lines, which plugged the gap between when investors committed money and when... Read more ›
0
A potential TikTok ban is back in the news—and this attempt feels different. Plus, Musk on the attack and more on this week's More or Less. Hope you enjoy! Apple Spotify YouTube Read more ›
0
Fresh off Sridhar Ramaswamy’s appointment as CEO of Snowflake, we published an Org Chart for the cloud database software company this week, highlighting the 41 top executives. Snowflake is the latest software company added to our Org Charts catalog. We published ServiceNow and MongoDB earlier this year, and we’ve long had Org Charts for Salesforce and Adobe, among others. I spent the week scanning these organizational structures, and one thing... Read more ›
0
The inner sanctum of one of Silicon Valley’s most intriguing investors  is a small, bland room in Los Altos Hills, Calif., filled on a recent morning by little more than a marble-top conference table, a whiteboard and a stack of bagged spicy chili potato chips. The home office belongs to General Catalyst CEO Hemant Taneja, and it’s partly from here that he has plotted an investment philosophy that has roiled... Read more ›
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There was a moment last summer when Elon Musk had challenged Mark Zuckerberg to a mixed martial arts fight, and I, for once, had sympathy for Meta Platforms’ public relations team. The owner of X was proposing he settle his differences with Zuckerberg by fighting him in the Roman Colosseum. It was absurd. And yet, months later, it seems to be a metaphor for where more and more companies find... Read more ›
0
For much of the past year, most articles about fintech startups have sounded alike: A once high-valued startup struggles to live up to its lofty valuation after interest rates spike, making it difficult to fund expansive growth plans. (I wrote about one, Chipper Cash, earlier this week.) But an announcement from a U.K. neobank has offered a glimmer of hope for the trodden-down sector. This week, London-based Monzo pulled off... Read more ›
0
Here we go again! TikTok is back in the crosshairs of the U.S. government and it’s already using the most valuable marketing real estate at its disposal—its own app—to rally U.S. users to its defense. Over the last day, some people with the TikTok smartphone app received push notifications stating that it “is at risk of being shut down in the U.S.” If users clicked on the notification, it led... Read more ›
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Most popular sources
Business Insider
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26% 2 |
Tech Wire Asia
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14% 9 |
CNET
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7% 4 |
Eurogamer.net
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7% 2 |
The Verge
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6% 2 |
| View sources » | |
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28.11.2024 03:41
Last update: 03:30 EDT.
News rating updated: 10:32.
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