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
Sam Altmanâs younger brother Jack has raised a $150 million venture fund to invest in early-stage startups through his VC firm Alt Capital, the younger Altman said in an interview. The fund plans to lead or co-lead investments in startups right after they incorporate, with a focus on enterprise software, including artificial intelligence startups. The fundraising comes weeks after Jack Altman said he would step down as CEO of HR... Read more âș
0
Meta Platforms CEO Mark Zuckerberg had a rough time testifying in Congress on Wednesday about social mediaâs mental health effects, but he must have cracked a smile after seeing the latest example of his companyâs impact on the AI sector. For the past few months, AI founders and Meta employees have quietly speculated that Metaâs flagship open-source Llama model had been used by fast-rising Mistral, a Paris-based startup now valued... Read more âș
0
Facebook parent Meta Platforms is testing the patience of its advertiser clients. After two rounds of layoffs over the past 14 months, Metaâs ad sales team is operating with fewer people, which ad executives complain is affecting the service they receive from the company. Sean Johnston, vice president of digital advertising at Closed Loop, an ad agency, said the amount of support his firm gets from Meta âchanged dramaticallyâ over... Read more âș
0
A Dutch messaging software startup is in talks with outside investors to raise money for a longshot bid to buy its much larger U.S. publicly traded competitor Twilio, according to people familiar with the discussions. The Accel Partners-backed startup, which was known as MessageBird but just renamed itself Bird, could take advantage of the recent pressure Twilio has been under from at least two activist investors to sell itself or... Read more âș
2
U.S. mining company Albemarle and Chinaâs Tianqi Lithium will cut production up to 13% at Australiaâs giant Greenbushes lithium mine, in which they are joint venture partners, responding to a massive, yearlong drop in the price of the metal. In addition to the cuts, the two companies plan not to process all the lithium they do mine at Greenbushes, but to build stockpiles, further reducing the amount of the metal... Read more âș
2
Itâs doubtful much of substance was achieved from todayâs Senate hearing into âbig tech and the online child sexual exploitation crisis,â starring a lineup of social media CEOs. As is typical, the CEOs recited jargonistic talking points and floundered when a cavalcade of senators demanded yes-or-no answers to a variety of questions. The senators made some good points about the now widely chronicled harms young people experience on Instagram, TikTok... Read more âș
0
Senators grilled the CEOs of Meta Platforms, TikTok, X, Snap and Discord for four hours at a hearing about child sexual exploitation online on Wednesday, criticizing how their platforms allowed child sexual abuse material to spread and enabled the extortion of young people. The senators used the opportunity to jab at executives ââYou have blood on your hands,â Republican Sen. Lindsey Graham told Meta CEO Mark Zuckerbergâand quiz them about... Read more âș
0
Gregory Varallo is a corporate lawyer in Delaware. But in the wake of a landmark Delaware court ruling on Tuesday night, heâs not just any lawyer. Varallo is one of the few people to win a courtroom battle with Elon Musk, who has repeatedly prevailed in contentious shareholder and defamation lawsuits. Varallo represented Tesla shareholder Richard Tornetta, whose lawsuit against Teslaâs board over its 2018 grant of a pay package... Read more âș
0
The founders of artificial intelligence startups spent much of the past year seeking capital to fund the high cost of developing their software. Now those costs have pushed some to consider another alternativeâmerging with a larger company. Perplexity AI, a one-year-old San Franciscoâbased startup developing an AI-powered search engine, raised $25.6 million last March. By October, the company was generating around $3 million in annual recurring revenue, a measure of... Read more âș
13
Microsoft investors tuned into the companyâs earnings call with bated breath Tuesday night, looking to see how much its new AI products were boosting sales. Microsoft didnât deliver an unequivocal blowoutârevenue in the December quarter grew moderately faster, year over year, compared to the prior quarterâs growthâbut positive signs abounded when it came to generative AI. Microsoft doesnât break out specific figures for its Azure cloud server rentals and other... Read more âș
30
There are companies that suffer from management messes, and there are companies whose businesses involve disposing of messes. Private equity giant KKR & Co. helped create a company that combines both qualities. Nearly seven years ago, KKR became the controlling shareholder of a company, Trilogy MedWaste, that was seeking to become a national powerhouse in the medical waste industryâthe business of cleaning and disposing of hazardous materials like used needles... Read more âș
0
Tuesdayâs biggest tech news has to be the Delaware Court of Chanceryâs stunning decision rescinding Elon Muskâs $56 billion Tesla pay package from 2018. The ruling, a big victory for the Tesla shareholder who sued to block the pay deal, should be a warning to all company boards that are dominated by a high-profile CEO: Make sure youâve got some truly independent directors. Thatâs because a key point in Judge... Read more âș
2
Before we get to Google parent Alphabetâs latest quarterly results, I wanted to highlight the news we broke earlier today that TikTok is planning to open locations in Los Angeles where creators will be able to livestream and sell products. The studios will be outfitted with camera equipment, lights and sample products available on TikTok Shop.TikTokâs studio plans copy a strategy that has worked for Douyin, the Chinese short-video app... Read more âș
12
Meta Platforms is pulling back on its investment in augmented reality, in a nod to how far off a commercial release of AR glasses is. Meta executives have told staffers in the companyâs Reality Labs division, which develops AR devices and virtual reality headsets, that it is ceasing development of âaugmentsââfeatures that function a little like apps on a smartphoneâfor future AR devices, according to an internal post described to... Read more âș
0
As OpenAI and Google develop artificial intelligence to power conversational AI chatbots like ChatGPT, a slew of startups is trying to stake out a lead in the nascent field of AI agents, which use similar technology to perform complex tasks such as booking flights or researching business competitors. The latest startup to go in this direction may be one planned by Ioannis Antonoglou, a longtime AI researcher who just quit... Read more âș
12
PayPal began company-wide layoff on Tuesday, the latest tech company to cut jobs, as a newly appointed CEO looks to cut costs and improve profits. PayPalâs human resources team told staffers in a meeting of layoff plans, described as part of a cost-reduction effort, according to an employee who was in the meeting. The layoffs affected people across multiple teams, including engineering and research and development, according to LinkedIn posts... Read more âș
14
For those overwhelmed by the flurry of new chip startups hoping to ride the AI wave, youâre in luck. This morning, we published our AI Chip Maker Database, which tracks both the startups building these chips and those building the software to run them.Thereâs lots in here. For instance, we make clear whether startups are making chips suitable for training AI models or using them and whether theyâre specialized for... Read more âș
3
Perhaps no company has benefited more from the artificial intelligence boom than chipmaker Nvidia. Since OpenAI released its blockbuster ChatGPT chatbot in late 2022, Nvidiaâs quarterly revenue has tripled and its stock price has nearly quadrupled, as startups and big tech companies alike have fought over access to its chips, which are considered ideal for training and running advanced AI models. That success has attracted a growing number of startups... Read more âș
207
When TikTok creators start a livestream to chat about their new favorite hairbrush, dog toy or cleaning product, theyâre usually doing so from a setup in their own home. Soon some may be broadcasting from a company-operated studio in Los Angeles. The short-video app is planning to open several locations in cities including LA where creators can livestream and sell products, according to three people familiar with the project. Each... Read more âș
91
One of the foundational academic works business students read and discuss is George Akerlofâs 1970 paper, âThe Market for âLemons.ââ Akerlof, a Nobel Prize winner, described a problem in the used car market: Buyers have less information about the quality of the car than sellers do. They canât see the defects in low-quality used cars, or âlemons.â This leads the buyer to assume all used cars are of roughly average... Read more âș
0
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Tech Wire Asia
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28% 21 |
Business Insider
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24% 2 |
CNET
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8% 3 |
Eurogamer.net
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5% 1 |
Android Authority
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4% 1 |
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28.11.2024 13:45
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