Youâve got to hand it to Spotify. The companyâs Spotify Wrapped featureâwhich packages personalized data about its usersâ music listening habits for the yearâhas become a viral sensation. It has even inspired Wrapped-like imitations for your running habits and Hinge dating activity. That got us The Weekend team thinking about how we could represent Silicon Valley culture in 2023 in numbersâyour Year in Tech Wrapped, if you will. True, we... Read more âș
0
After months of discussions, BuzzFeed is close to an agreement to sell most of its Complex Networks business to Ntwrk, a live video shopping and e-commerce startup, but at a price that will be a little above $100 millionâsignificantly below what BuzzFeed CEO Jonah Peretti was originally seeking in a sale, said people familiar with the matter. As a result, the sale won't solve BuzzFeed's financial problems. Peretti was hoping... Read more âș
0
It has been a year of extremes in techâmass layoffs, society-rattling advancements in artificial intelligence, fraud convictions and record-breaking fundraises. We donât blame you if your head is still spinning. With 2024 around the corner, we gave tech leaders a chance to reflect on the past 12 months by filling out our 2023 Exit Survey. Fifteen Silicon Valley figuresâincluding Ripplingâs Parker Conrad, Rent The Runway co-founder Jennifer Fleiss and Adobeâs... Read more âș
0
Few people outside the artificial intelligence sector of tech likely anticipated how the emergence of ChatGPT late in 2022 would overwhelm developments in tech in 2023. Meanwhile, what didnât happen this year was mainly related to the economy and the marketsâfew deals or initial public offerings got done, while an array of struggling companies filed for bankruptcy. (We graded our 2023 predictions here). Next year promises to be a little... Read more âș
0
The year is winding to a close, which means itâs time for us to grade our predictions for 2023. This time last year, our journalists checked in with sources to figure out what they thought would happen in the year ahead. Some of the predictions that resulted from that reporting turned out to be accurate. Some weren't. We were spot on with our forecast that the federal government would fail... Read more âș
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Hereâs a private equity firm you may hear more about next year: Regent. It appears to have developed a specialty in acquiring distressed assets, as financiers call businesses that are struggling to survive, without paying anything for them upfront. Regent has struck a series of deals this year in which it has taken a weak business off the hands of a big company on deferred payment terms. Regent doesnât have... Read more âș
8
Venture capital had a few stumbles this year, including turnover at the top ranks of Sequoia Capital, Tiger Global and Greycroft, and the abrupt slowdown in dealmaking among these once-frenetic checkwriters. Startups that had raised billions of dollars in VC money, including Convoy, Olive AI and Veev, shut down and wiped out investors. Others such as IRL and Bitwise wound down amid allegations of fraud. Read more âș
29
As Shein prepares to go public, it is looking for help in winning over its biggest critics in Washington. With that in mind, the China-founded fast fashion giant has tapped political heavyweights as advisers. David Dreier, a former longtime Republican representative and key architect of the North American Free Trade Agreement, has been playing a prominent role in advising Shein executives and staff in recent months, a person familiar with... Read more âș
2
Welcome to the last AI Agenda of 2023! Since launching five months ago, weâve written 88 issues (wow!) covering everything from the GPU chip wars to the reckoning that young AI startups are facing. (For a summary of highlights and lowlights, check out yesterdayâs issue.)Â Thanks for sticking with us through it all.With an upcoming election, yet another fundraising by OpenAI and a new Google model to look forward to,... Read more âș
6
Artificial intelligence startup Cohere develops large language models that businesses can use to streamline tasks, much like its better-known rivals OpenAI and Anthropic. But Cohere has a far more conventional corporate structure. The engineering-heavy organization brings together young AI research talent with experienced managers from big tech companies. The company has senior leaders distributed across Canada and the U.S., and it has headquarters in both Toronto and San Francisco. Read more âș
0
The biggest news on a slow news day in a slow news week is about the news. Thatâs the way the news people want it.The New York Times Co. grabbed the lonely spotlight Wednesday morning with a lawsuit against OpenAI and Microsoft, seeking compensation for the ChatGPT developerâs use of the newspaperâs articles to train ChatGPT. The lawsuit is an interesting read, complete with examples of how ChatGPT sometimes spits... Read more âș
12
Chinaâs generative artificial intelligence startup sector is going through the âqualifying round,â according to Kai-Fu Lee, a venture capitalist and former president of Google China, who earlier this year founded 01.AI, a Beijing-based startup developing large language models, which last month raised a funding round at a $1 billion valuation. The biggest internet companies in China, such as Alibaba, Tencent, Baidu and ByteDance, as well as dozens of startups, are... Read more âș
0
Looks like the holiday cheer is over for OpenAI.This morning, the New York Times Co. sued the model developer and Microsoft for copyright infringement, claiming that OpenAI used millions of their articles to train AI chatbots without permission. In filing the lawsuit, the Times Co. is ratcheting up the pressure on the two tech firms. In the lawsuit, the Times says it has been negotiating with OpenAI and Microsoft for... Read more âș
15
Itâs been just 12 months since JPMorgan Chase spent $800 million to buy 49% of Greek fintech startup Viva Wallet, in an effort to expand the bankâs reach into the small business payments sector across Europe. But already the two companies appear to have fallen out. Two of JPMorganâs three representatives on Vivaâs board have quit in recent weeks, just a few months after joining the board. Viva, which is... Read more âș
15
The year is ending on an upbeat note for the market, thanks to the Federal Reserveâs interest rate ceasefire. Among the biggest beneficiaries are small tech companies that were among the hardest hit by the marketâs plunge over the past couple of years. Shopify, Snap, Coinbase and Affirm have rocketed since late September, rising between 50% and 150% each in the past three months, compared to the Nasdaqâs rally of... Read more âș
0
Anthropic, an OpenAI rival backed by Amazon and Google, has projected it will generate more than $850 million in annualized revenue by the end of 2024, according to two people with knowledge of its financial picture. Just three months ago, Anthropic told some investors it was generating revenue at a $100 million annualized rate and expected that figure would reach $500 million by the end of 2024. It isnât clear... Read more âș
36
Elon Muskâs artificial intelligence startup, xAI, is following in the footsteps of rivals OpenAI and Anthropic in opting for an unusual corporate structure. xAI has been organized in Nevada as a for-profit benefit corporation, a structure that allows the company to prioritize having a positive impact on society over its obligations to shareholders, according to a late November filing with Nevada. Musk, who launched the secretive startup earlier this year,... Read more âș
16
OpenAI CEO Sam Altman is back to doing what he does best: raising money. The ChatGPT creator has had preliminary conversations about a $100 billion-valuation fundraising, Bloomberg reported Friday, even though its tender offer at a $86 billion valuation isnât yet complete. Given Altmanâs past comment that OpenAI may need to raise $100 billion in capital to accomplish its goals of artificial general intelligenceâa term that has since been upgraded... Read more âș
2
If the market for initial public offerings recovers in the new year, one company that aims to go public early on is Reddit. An IPO will put the spotlight on the prospects for Redditâs advertising business, which has fallen short of ambitious growth targets outlined by executives two years ago. Reddit expects to finish this year with ad revenue up more than 20% to slightly over $800 million, two people... Read more âș
35
Face it: Youâre long past most âarrive by Christmasâ shipping deadlines. To alleviate your procrastinatorâs panic, we sourced five gift ideas you can purchase online mere minutes before youâre supposed to bestow them. Sometimes experiences are the greatest (and easiest) gift for the person who has everything. Read more âș
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Most popular sources
Tech Wire Asia
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31% 25 |
Business Insider
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25% 3 |
CNET
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8% 2 |
Eurogamer.net
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5% 1 |
Android Authority
|
5% 0 |
| View sources » | |
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28.11.2024 17:28
Last update: 17:21 EDT.
News rating updated: 00:21.
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