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 âș
0
Faye Iosotaluno initially envisioned her familyâs December trip to New Zealand as a holiday-time sojourn, but a week before they left, she learned theyâd have another reason to celebrate. Sheâd gotten the top job at Tinder, after a lengthy stretch as its chief operating officer. For Iosotaluno, the role would mean a plunge deeper into tumultuous water. Tinder, the most important part of its publicly traded corporate parent, Match Group,... Read more âș
0
Readers of The Information are optimistic about the tech sector: More than 62% of respondents to our most recent survey expect conditions to improve over the next six months, the highest such percentage since we began asking that question a year ago. The favorable outlook extends to most of the 14 big tech companies we ask about each month. Optimists outnumbered pessimists for eight of the 14. Sentiment improved for... Read more âș
0
For a brief period at the start of this year, it looked like venture capitalistsâ hunger for artificial intelligence startups was ebbing, spooked by lofty prices and increasing competition from big companies like Google. But in recent weeks, investors have shown the kind of unbridled enthusiasm that colored much of last yearâand startups are looking to capitalize. Scale AI, which labels images or text to teach AI models to recognize... Read more âș
11
Sequoia Capital is pushing for one of its most venerated former partners, Michael Moritz, to step down from his personal board position at the âbuy now, pay laterâ company Klarna. Sequoia partner Matthew Miller in recent days asked shareholders at Klarna to remove Moritz from the board of directors, a person with direct knowledge of the matter said. Roelof Botha, Sequoiaâs chief, also told Klarna shareholders Miller had Sequoiaâs full... Read more âș
13
Last November, one of the most important private technology businesses in the worldâOpenAIânearly collapsed overnight over a governance crisis. Its nonprofit board announced to the world that it had lost confidence in CEO Sam Altmanâs ability to lead, and it ousted him. Most of the people who worked there threatened to quit. Altman was brought back after a tense negotiation culminating in the decision that there would be a new... Read more âș
2
After Sam Altmanâs sudden firing last year, I argued the chaos that followed his short-lived ouster would inject a healthy dose of caution into venture investments in artificial intelligence companies. I figured weâd finally reached the peak of the AI venture capital frenzy when a threatened employee exodus from OpenAI risked sending the value of the $86 billion AI juggernaut almost to zero. There was plenty of other proof that... Read more âș
1
Earlier this week Nielsen, the TV measurement firm, reported that 123.7 million people in the U.S. watched this yearâs Super Bowl. The TV broadcast, which aired on CBS, averaged 120.3 million viewers, which made it the largest audience for a single telecast in U.S. TV history. (An additional 2.3 million viewers watched the Spanish-language broadcast on Univision, and 1.2 million tuned into the kid-friendly version on Nickelodeon, which like CBS... Read more âș
18
JPMorgan approached Greeceâs central bank last year with concerns about âserious governance failingsâ at Viva Wallet, a Greek fintech company it partly owns, as well as âmisconductâ of the firmâs chief executive and co-founder Haris Karonis, according to allegations filed in a U.K. court. In a lawsuit filed Wednesday, JPMorgan sued a firm controlled by Karonis and his Viva Wallet co-founder, who between them control 51.5% of Viva Wallet. It... Read more âș
0
Readers of The Information are more optimistic about prospects for the technology sector than they have been at any time in the past year, according to our latest monthly survey. More than 62% of respondents to the survey said they expect conditions for technology companies to improve over the next six months, the highest proportion expecting improvement since we began the surveys in February 2023. Fewer than 11% said they... Read more âș
0
Contrary to popular belief, OpenAI CEO Sam Altman isnât raising trillions of dollars for a large project to develop new server chips for artificial intelligence. A Wall Street Journal report last week that implied Altman was seeking up to $7 trillion worth of capital for what sounds like a joint venture to end all joint ventures caused quite a stir. But in reality, Altman privately has told people that figure... Read more âș
0
Advertising is no country for small digital media firms. Vox Media, the privately held firm that owns outlets such as New York magazine, The Verge and Eater, saw revenue fall roughly 15% in 2023, dragged down by weaker ad sales, according to people familiar with the matter. Similarly, Bustle Digital Group, which owns Bustle, Nylon and W Magazine, experienced a 15% decline in 2023 due to weaker ad sales and... Read more âș
0
In the 1870s, according to legend, a group of Apache warriors jumped to their deaths from a 4,700-foot cliff in Arizona rather than surrender to U.S. Army soldiers who were closing in on them. Today, descendants of the warriors return to the siteâdotted with rock carvings and known as Apache Leapâfor sacred rites. But in the early 2000s, Ernest Scheyder writes in his timely new book, âThe War Below,â mining... Read more âș
0
Good things come to those who waitâincluding, we now know, Uber shareholders. The ride-hailing firmâs decision to launch a $7 billion stock buyback program sent the already rallying stock up another 15% to around $79.15. Since the stock was trading as low as $40 last October, Uber CEO Dara Khosrowshahi should be pleased. But taking the glass half-empty perspective for a moment, it doesnât seem ideal that Uber is now... Read more âș
0
Nvidiaâs hot streak with artificial intelligence chips, which have been in high demand globally, is also lifting a slew of companies that resell the chips. Together AI, a startup that helps AI developers access Nvidia server chips to train and tweak their AI models, is raising more than $100 million in new funding that values the 20-month-old firm at more than $1 billion, doubling its valuation from a funding round... Read more âș
0
We just released a new list for subscribers to The Information Pro that identifies the most likely targets for takeovers in the creator economy this year. We focused on companies that havenât raised much if any money since inking seed or earlier rounds more than two years ago. These companies are most likely to face a cash crunch and be open to acquisition offers.Some startup founders told us theyâre already... Read more âș
1
OpenAI has been developing a web search product that would bring the Microsoft-backed startup into more direct competition with Google, according to someone with knowledge of OpenAIâs plans. The search service would be partly powered by Bing, this person said. Read more âș
18
Meta Platforms is reducing payments to news organizations that fact-check potential misinformation on WhatsApp, including around elections, according to three people with knowledge of the situation. The cuts mean fewer fact-checkers will monitor election-related discussions on the global messaging app in a year when around half of the worldâs population will go to the polls, including in the U.S. and India, two of those people said. The move could also... Read more âș
27
Ali Ghodsi, the CEO of Databricks, a $43 billion-valuation enterprise software firm, had lots to say about OpenAI and the potential challenges it faces in a conference call with The Information subscribers yesterday. (One new challenge it's likely wrestling with is the departure of high-profile researcher Andrej Karpathy, as we scooped yesterday.)But as Ghodsi has has a front row seat to how companies are using conversational AI, we were especially... Read more âș
0
Many creator economy startups have found themselves in a precarious position in the aftermath of the pandemic funding boom. Some have laid off staff or cut costs to stay afloat, while others are running on fumes, forcing them to scramble for new capital, find buyers or close altogether. The most vulnerable are those that havenât raised much if any money since inking seed or earlier rounds two years ago, since... Read more âș
0
A little over a year ago, Brittany Doyle had high hopes for the Taos Motor Lodge, a renovated, 28-room motel in New Mexicoâs high desert that she was opening. To help her run the business, Doyle signed a contract with Life House, a hospitality startup that has raised over $100 million from Tiger Global Management, Trinity Ventures and other investors. The startup provides a wide array of management services to... Read more âș
3
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
|
5% 0 |
Gizmodo
|
4% 3 |
| View sources » | |
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28.11.2024 09:35
Last update: 09:25 EDT.
News rating updated: 16:21.
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