OpenAI isnât the only artificial intelligence powerhouse with a peculiar governance structure. Anthropic, the Amazon- and Google-backed developer of Claude, a chatbot rival to ChatGPT, also has its quirks. Anthropic is a public benefit corporation, and some seats on its board of directors are controlled by a group called the Long Term Benefit Trust. The Trust owns special shares that allow it to select directors but do not give it... Read more âș
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This week, several companies staked out new ground in the latest forefront of AI research: trying to prove that their models can do more with less. On Monday, the French AI startup Mistralâfresh off its $415 million funding roundâpublished a new model called Mixtral 8x7B. The model, which is open-source, quickly racked up plaudits from AI researchers for its ability to match the quality of GPT-3.5 on some benchmarks despite... Read more âș
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Chinese tech giant ByteDance might have set Facebook owner Meta Platforms on its heels with its hugely popular TikTok app. But ByteDance is now retreating from its effort to compete with Meta in the virtual reality headset market. ByteDance is canceling the next version of the virtual reality headset from its Pico subsidiary, the Pico 5, according to people familiar with the situation, after sales of its last headset, the... Read more âș
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Harvey, a one-year-old startup that sells artificial intelligence-powered legal software, is in talks to raise between $70 million and $80 million in a round that would value it at $700 million including the investment, two people familiar with financing said. The funding more than quadruples its valuation announced in April, indicating investors are still hungry for AI startups that can show revenue growth. Venture firm Kleiner Perkins and solo investor... Read more âș
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Silicon Valleyâs phones buzzed with alerts last night, offering surprising news about one of its bellwether companies: A federal jury decided Google had exercised unlawful monopoly power over app developers like Epic Games. Investors so far have responded mostly with a shrug. By the end of today, the stock of Googleâs parent company, Alphabet, had slumped by less than a point on a day the S&P 500 ticked up. The... Read more âș
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Facebook wants more creators to set up shop on the blue app, and executives are betting a change to how it shares revenue from video ads will help. The flagship Meta Platforms app is dropping its practice of giving creators 55% of ad revenue on certain videos, something itâs done dating back to the 2017 Facebook Watch days, in favor of a different structure that pays out cash based on... Read more âș
97
High-end pet food startup The Farmerâs Dog is working with JPMorgan and other investment banks to raise hundreds of millions of dollars by early next year, in a deal that could value it significantly higher than its last $2.5 billion valuation, people familiar with the matter said. The fundraising could help the company buck the trend of collapsing direct-to-consumer valuations over the past two years. The Farmerâs Dog, which delivers... Read more âș
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Andreessen Horowitz, one of the most prolific investors during the pandemic-era funding boom, recently held an event for limited partners in Las Vegas, where it presented its ideas on investing in various industry sectors, according to a person familiar with the talks. The investment firm could soon ask its backers to commit to those sector bets more deeply. It has been planning to raise money for at least three industry-specific... Read more âș
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This past year has been a blur of nine-figure funding rounds and billion-dollar-plus valuations for artificial intelligence startups that investors hope can be the next OpenAI or Midjourney. I canât tell you how many times investors have justified the money theyâve put into a brand new startup by saying things like: âWell, he was one of the lead authors on the Llama paper!â or âWell, she was a star AI... Read more âș
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The venture capital gravy train for artificial intelligence startups may be slowing down. Some young startups have struggled to close rounds investors would have jumped to win a year ago. Take Liquid AI, which is developing a new kind of AI model that can learn while in use, not just during its training, a method that differs from the way OpenAIâs models work. In July, CEO Ramin Hasani spoke with... Read more âș
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OpenView Venturesâ sudden decision last week to lay off most of its staff and halt investments in new startups left one major question unanswered: what to do with the $570 million that endowments and other institutions recently committed to its latest fund. Earlier Monday, the firmâs senior partners held all-day meetings to review their investment portfolio and discuss dueling proposals: In one scenario, partners would ask the fundâs backers to... Read more âș
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Quick quiz: Which C-suite position has the least job security? This year, at least, the answer would have to be chief financial officer, arguably the No. 2 executive at most big public companies. In tech and media in 2023, weâve seen CFO departures (or CFOs taking a different position internally) at Alphabet, Uber, Tesla, Disney, Stripe, Airbnb, Digital Currency Group, Pinterest, Rent the Runway, Allbirds, BuzzFeed, Everlane and, on Thursday,... Read more âș
0
The past few years have brought an explosion of creator economy startups that tended to focus on one niche offering, say tax help or online courses. As many struggle with a drop in venture funding, some boot-strapped companies have been expanding. Whalar, best known for influencer marketing and managing creators, has quietly launched several new divisions over the last few years. These include a studio to help creators sell their... Read more âș
2
Startups have gone to extreme measures this year to get a hold of graphics processing units, the rare chips needed to train and run AI models. Theyâve tried everything from raising capital from cloud providers like Microsoft, Google and Amazon to building bots that scour hyperscalersâ websites in search of open servers.One AI founder, though, doesnât think the GPU shortage is as bad as everyone has made it out to... Read more âș
2
Last week, Elon Muskâs X began giving subscribers to its premium, advertising-free version access to a new feature: Grok, a sassy artificial intelligence chatbot created by xAI, a separate AI startup that Musk founded. To some, it wasnât clear why mashing together the chatbot with the service formerly known as Twitterâor for that matter with Tesla products, as xAI has hintedâmade sense. âI donât see what Grok is solving,â said... Read more âș
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In a May 2022 note titled, âThe End of the Beginning,â Goldman Sachs analyst Nicholas Snowdon said high lithium prices had ignited a surge of new production in Australia, Chile and China, creating a coming flood of supplies that would knock the metalâs price into a sharp decline. From $65 a kilogram at the time, he predicted lithium would fall to an average of $16 a kilo in 2023. Industry... Read more âș
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Mujeeb Ijaz, who stepped down as CEO of Our Next Energy. Photo: Courtesy ONE.The surprising demotion Sunday of the CEO of next-generation battery developer Our Next Energy was triggered by the withdrawal of a $100 million investment by a U.K. firm, according to people familiar with the situation. Read more âș
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Hi, welcome to your Weekend: 10th Anniversary Edition!Ten years isn't a lot in geologic or California redwood timeâbut it's an eternity in media time. Just ask some of the news startups that went bankrupt over the last decade. So what secrets have we at The Information gathered in our first ten years of bringing business news to the business class?  Our founder and CEO Jessica lays out some of the... Read more âș
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It was the best of times (for big tech), it was the worst of times (for WeWork investors), it was the strangest of times (for Elon Musk). The past 10 years has witnessed so much, and The Information has covered it allâfrom good deals to bad bets to ugly blowups on social media. In honor of our 10th anniversary, we present the 10X Awards: Our subjectively chosen rankings of the... Read more âș
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You knew it was just a matter of time. Regulators in the U.K. and U.S. are looking into the antitrust implications of Microsoftâs partnership with OpenAI, according to the U.K. regulator and Bloomberg. Yes, thatâs right. A partnership that poses a serious competitive threat to Googleâwhose dominance of internet search and advertising is the subject of several antitrust lawsuitsâis itself potentially a problem for antitrust regulators. Youâd think the bureaucrats... Read more âș
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Most popular sources
Business Insider
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34% 7 |
Tech Wire Asia
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19% 6 |
CNET
|
7% 1 |
Tom's Hardware
|
5% 1 |
Android Authority
|
5% 1 |
| View sources » | |
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28.11.2024 21:48
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