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 ›
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Google’s artificial intelligence group is having a moment.After getting its flagship Gemini large language model off the ground and roughly on par with OpenAI, Google on Wednesday appeared to take a sudden lead in a parallel race to develop open-source LLMs, which Meta Platforms has been dominating. In the process, Google also gave a shot in the arm to a branch of AI model science that’s been bubbling for the... Read more ›
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Last year was a tough one for venture-backed logistics firms, with a drop in demand for moving goods cratering Flexport’s revenue and forcing Convoy to shutter entirely. But ShipBob, which has the backing of SoftBank and Bain Capital Ventures, may have bucked the trend. The company, which sells Amazon-like warehouse and shipping services to small online merchants, grew its revenue to roughly $500 million last year, said two people familiar... Read more ›
0
In an unexpected move, David Howell, for two decades one of the most consequential behind-the-scenes players in U.S. battery development, will retire next week from the Department of Energy, where he helps to lead the multibillion-dollar U.S. challenge to China’s dominance of the battery industry. One of Howell’s most lasting legacies is conceiving, almost on a lark, the industry’s widely used measure of how much a battery needed to cost... Read more ›
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All those worrywarts can relax. Nvidia did it again. The AI chip giant reported fourth quarter revenue of $22 billion, $2 billion ahead of its projection, and 265% higher than a year earlier. Even better, Nvidia projected its first quarter revenue would be $24 billion, indicating that growing competition is not yet doing much to dent its rocketship-like growth. The first quarter revenue projection implies growth from a year earlier... Read more ›
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Cybersecurity providers are facing a moment of truth. After years of persuading companies to spend more on security software, hackers are still getting through. That’s giving some companies “cyber fatigue,” and putting them under pressure to buy less, Palo Alto Networks CEO Nikesh Arora said on Tuesday. Other industry executives echoed his comments, which helped spark a sell-off in cyber stocks on Wednesday. “Companies just don’t feel like they can... Read more ›
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Last week, we published a list of creator economy startups that could be on the market for a new owner because they haven’t raised more than a seed round of venture capital in two years and may be running low on cash. Some founders have already pulled the plug on their startups, we discovered.At least eight early-stage startups in The Information’s Creator Economy Database that haven’t raised funding since early... Read more ›
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Sequoia Capital has picked partner Andrew Reed to replace Matthew Miller on the board of ‘buy now, pay later’ company Klarna, according to people familiar with the matter. Miller had joined the board in January and recently led a failed effort to remove former Sequoia leader Michael Moritz from his position as Klarna’s board chairman. On Tuesday, Miller and Sequoia retracted their request to remove Moritz as board chair, The... Read more ›
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Former GitHub CEO Nat Friedman and his investment partner, Daniel Gross, raised eyebrows last week by writing a $100 million check to Magic, the developer of an artificial intelligence coding assistant. There are loads of coding assistants already, and the top dog among them is Microsoft’s GitHub Copilot. So what did Friedman and Gross see in Magic?The answer goes beyond the company’s claim that it will soon be able to... Read more ›
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ServiceNow is the rare technology company not to have laid off employees in the past 18 months. The software maker, whose $154 billion market capitalization outranks better-known brands such as Shopify and Snowflake, avoided layoffs by hiring prudently: Revenue has grown faster than headcount each year for at least a decade. Hiring slowed considerably in 2023, especially in human resources, finance, and other administrative functions, Chief People Officer Jacqui Canney... Read more ›
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You might not have expected Klarna, the Sweden-based original “buy now, pay later” lender, to be the setting for a “Succession”-caliber soap opera—but hey, Sweden also produces lots of dramas for streaming TV. The real-life one we’re talking about centers on Sequoia Capital’s ham-handed efforts to remove its highly respected former partner, Michael Moritz, from Klarna’s board, news of which we scooped last week. Today we broke the news that... Read more ›
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Over the past few months, I've been hearing a lot more about ByteDance-owned CapCut, with many creators telling me they use the app as their main editing tool, which provides trendy templates and filters to spruce up videos. Some of this growth comes from its sister app TikTok, where users see videos made with CapCut and then get the app, making it the second most-downloaded free iPhone app in the... Read more ›
1
Sequoia Capital has retracted its request to remove Michael Moritz as chairman of Klarna’s board, according to emails reviewed by The Information. Sequoia partner Matthew Miller, the director who in recent days had asked Klarna shareholders to remove Moritz, is leaving the Klarna board. Sequoia plans to appoint a new partner to the company's board in the coming days. In an email, Sequoia’s chief Roelof Botha told Klarna shareholders that... Read more ›
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Microsoft is taking another step to reduce its dependence on Nvidia. The software giant is developing a networking card to ensure that data moves quickly between its servers, as an alternative to one supplied by Nvidia, said a person with direct knowledge. In addition to potentially saving Microsoft money, the company hopes the new networking gear will improve the performance of its Nvidia chip servers. That could help OpenAI, which... Read more ›
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When OpenAI CEO Sam Altman last week posted a series of ultrarealistic and cinematic videos made by Sora, his company’s latest artificial intelligence technology, we imagined alarm bells ringing across the technology industry and, perhaps, Hollywood. Most of all, the videos should put fear in the hearts of at least seven companies in our Generative AI Database that develop AI video generators—and the investors who collectively gave them more than... Read more ›
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Last year, the second most downloaded free app in the U.S. on iPhones was CapCut, a video-editing app made by TikTok’s parent ByteDance and popular with TikTok users who use its templates and filters to create videos for the app. But CapCut—unlike TikTok itself—is directly run by ByteDance executives in China, a point confirmed by a management shake-up at ByteDance earlier this month. Some inside ByteDance have worried over the... Read more ›
3
In 2021, Europe’s electric vehicle market was feverish. Seemingly every week, automakers announced new plans to spend billions developing EVs. Those EVs would require batteries, and Sweden’s Northvolt, the most ambitious of a small coterie of European battery manufacturing startups, made plans to triple the capacity of its new gigafactory near the Arctic Circle. The project would cost billions and entail immense risk—for one thing, Northvolt had not produced a... Read more ›
0
Welcome to your Weekend!A couple days ago, Mark Zuckerberg had quite a lot to say about his company—and someone else’s. Specifically, he talked about how Meta Platforms’ virtual reality headset, the Quest (which starts at $499), compares to Apple’s VR headset, the Vision Pro ($3,499). “I expected Quest would be a better value for most people,” Zuckerberg said in an Instagram video. But after using a Vision Pro, he changed... Read more ›
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The anticipation that surrounded Apple’s Vision Pro, the multitrillion-dollar company’s nearly $4,000 virtual reality headset, sure made some die-hards go to substantial lengths to lay their hands on one. Tina Debove Nigro, for instance, flew from Paris to Boston via Reykjavík, Iceland, to acquire the device as soon as humanly possible two weeks ago. “It was another $1,000 for the flight and the Airbnb” in Beantown, said the 27-year-old software... Read more ›
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It’s beginning to feel a bit like early 2021. Investor enthusiasm for AI startups has surged again, after a brief respite, as we reported today. One great example from our story: Perplexity AI has received unsolicited offers valuing the firm at more than $1 billion—just a month after its last funding round valued it at half that. Meanwhile, according to Bloomberg, SoftBank CEO Masayoshi Son is looking to raise $100... Read more ›
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After a week of going full Vision Pro, the Lessins' reaction may surprise you. (It certainly surprised me.) This week's podcast covered all of that and zoomed out with some predictions about how this next tech battleground will play out. Plus, our take on the string of AI headlines this week. And the return of Pop Culture Corner! Listen here. Read more ›
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Most popular sources
Business Insider
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23% 0 |
Tech Wire Asia
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23% 17 |
CNET
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9% 6 |
Eurogamer.net
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5% 0 |
Gizmodo
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4% 3 |
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28.11.2024 09:36
Last update: 09:31 EDT.
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