Stock market pundits may want to come up with a new name for the big tech stocks driving the overall market. The âmagnificent sevenâ descriptorâreferring to Apple, Microsoft, Alphabet, Amazon, Meta Platforms, Nvidia and Teslaâno longer seems to make much sense. Iâd like to suggest thatâs because none of the company CEOs look like cowboy gunslingers from the 1960 movie that made the phrase famous. Itâs hard to imagine Steve... Read more âș
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Several Tiger Global Management employees focused on raising capital for the New York firmâs venture funds have taken buyout offers, according to a person familiar with the matter. The departures of the staff, who worked with prospective investors, come as the firm has struggled to raise money for its latest venture capital fund after a collapse in startup valuations soured its paper returns for earlier funds. As of the second... Read more âș
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Humanity is waking up to the challenges and opportunities of artificial intelligence, but we donât yet understand our role. People talk about unexplainable AI when they should be more concerned about the unexplainable humans running the companies that develop the AI. (Hiya, Sam!) People worried about AI taking their jobs and taking control are competing with a myth. Instead, people should train themselves to be better humans even as they... Read more âș
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OpenAI, Anthropic and Elon Muskâs xAI have drawn attention for their unconventional governance structures, ones that prioritize public interest over obligations to shareholders. But these companies are the outliers, The Informationâs analysis shows, as most AI developers opt for traditional approaches that appeal to investors. Only 4 of the 96 U.S.-incorporated startups in The Informationâs Generative AI Database have adopted the structure of either a nonprofit or for-profit benefit corporation,... Read more âș
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If you ask the typical TV executive about the challenges of video streaming, theyâre likely to use one word: churn. Unlike cable TV, streaming services let viewers chop and change their subscriptions at a momentâs notice, complicating the companiesâ ability to build an audience and make money. Telecom giant Verizon sees an opportunity to helpâand to make money. Verizon is pitching entertainment companies on its ability to help them manage... Read more âș
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Netflix has put media companies in a chokehold. The streaming giantâs $5 billion deal to assume the rights to World Wrestling Entertainmentâs Raw from NBCUniversalâs USA networkâand other WWE programming overseasâdemonstrates its growing competitive advantage over older TV companies. USA has aired Raw since 1993âwith a five-year break in the early 2000sâbut, with the cable sector in decline, the channel is presumably becoming more careful about how much it spends... Read more âș
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New year, new M&A in the creator economy! VidIQ, an analytics provider for creators, is acquiring Creator Now, a Los Angeles-based online education startup for aspiring creators, The Information is first to report. Read more âș
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Microsoft is doubling down on artificial intelligence thatâs smaller and cheaper to run than OpenAIâs. The maker of Windows and Office has formed a new team to develop conversational AI that requires less computing power compared to software itâs using from OpenAI, according to two people with direct knowledge of it. Microsoft has moved several top AI developers from its research group to the new GenAI team, which is part... Read more âș
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Three Google researchers who helped develop artificial intelligence that generates images and music recently left the company to launch their own AI startup called Uncharted Labs, according to two people with direct knowledge of their plans and a securities filing. Itâs the latest example of top researchers who faced bureaucratic delays in launching their AI products at Google and decided to capitalize on venture investorsâ enthusiasm for new companies in... Read more âș
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Brex is cutting 20% of its workforce and shaking up senior management ranks in a new effort to slash its cash burn, as the fintech firm grapples with slower revenue growth. The company told employees in an email on Tuesday that Chief Operating Officer Michael Tannenbaum and Chief Technology Officer Cosmin Nicolaescu are both giving up their positions. Tannenbaum will join Brexâs board, while Nicolaescu will become an adviser, in... Read more âș
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For years, partners at Andreessen Horowitz proclaimed they would scour the startup world for the next big consumer marketplace like Airbnb or the next hit consumer app out of China, areas in which the firm had unique expertise. Now, itâs shifting toward an area more en vogue across venture capital: consumer apps powered by artificial intelligence. Those changes are happening amid an overhaul of its consumer team. Connie Chan, a... Read more âș
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Developing large language models is expensive work: the costs of running LLMs in the cloud knocked out more than half of the revenue Anthropic generated last month, Maria Heeter and I reported yesterday. And that doesnât include the cost to train its models in the first place.Recent technological advancements should make it cheaper to develop and run LLMs, however. Itâs not clear if the new savings will be enough to... Read more âș
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One of the pandemic-era darlings of the fintech sector is stuck in a rut. Brex, which issues credit cards and manages cash for businesses, burned an average of about $17 million a month in cash in the fourth quarter, the company told staff at an all-hands meeting earlier this month. Brex has enough cash to last through March 2026, according to the data given to employees in early January, although... Read more âș
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Whenever I fly to or from San Francisco, I like to snoop on people in first class as I shuffle back to my coach seat. What gadgets are they using? What are they reading? (And, maybe, are there any confidential documents on their laptop screens? Shh.) On Sunday, as I flew back to New York from a West Coast visit, one gentleman was about halfway through âChip Warâ by Chris... Read more âș
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Earlier today, we published a story about creatorsâ growing role in the 2024 election. President Joe Bidenâs re-election campaign is hiring a director of digital partnerships to work with creators to amplify his message and reach key voting blocs, including working with local nanoinfluencers. Staffers have discussed having a creator representative in every U.S. state. As we note in the story, not all creators are comfortable throwing their support behind... Read more âș
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Politicians used to make pilgrimages to military veterans and labor union members as they hit the campaign trail. This year theyâre courting creators. President Joe Bidenâs reelection campaign is hiring a director of digital partnerships to work with creators to âamplify Joe Bidenâs message and reach key voting blocs,â according to a job posting. Staffers have also discussed tapping a creator representative in every U.S. state this year, according to... Read more âș
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Over the past year, weâve seen billions in funding thrown at AI startups at eye-popping valuations. More important than the absolute valuation figures, though, is how they stack up to those startupsâ revenue numbers.In the chart above, weâve tracked the valuations of eight AI startups that have recently raised funding, calculated against their projected revenue. On average, these companies raised money at a price that is 83 times their projected... Read more âș
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In the past year, artificial intelligence developer Anthropic has raised billions of dollars at a more than $15 billion valuation due to its fast revenue growth and big projections for future sales. But as Anthropic and scores of rivals mature, theyâll need to prioritize profit margins and cash flows if they want to build a sustainable business and have any hope of going public someday. New data show that profit... Read more âș
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Welcome back to The Electric!Investors and mining hands were broadsided last year by a large surplus of lithium, nickel and other battery metals and a plunge in their prices. This week, we look at a little-known reason for the unexpected hit lithium prices have takenâChinese companies have massively overproduced iron-based cathodes.At a lithium evaporation pond in Golmud, China, a billboard promotes the production of battery metals and minerals. Photo: Qilai... Read more âș
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Hi, welcome to your Weekend.When a team of assassins killed the dissident journalist Jamal Khashoggi inside the Saudi consulate in Istanbul a little over five years ago, Silicon Valley for a moment found its vertebrae. At the time, tech investors and founders were growing increasingly intoxicated by funding from Saudi sources. But those days seemed like they might be over after western intelligence services pointed the finger at the countryâs... Read more âș
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Tech Wire Asia
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Business Insider
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22% 3 |
CNET
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8% 4 |
Gizmodo
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5% 0 |
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5% 1 |
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28.11.2024 11:36
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