A startup seeking to bring robotaxis to dedicated roads surrounding airports and transit hubs is inching closer to realizing its vision. The startup, Glydways, has raised a $56 million Series B fundraising round, including about half of it from convertible debt that the notes holders are converting to equity. New Science Ventures led the round, while other investors include the ACS Group, a global construction company based in Spain; Gates... Read more ›
0
As large-language model developers such as OpenAI, Meta Platforms and Google battle for global supremacy, European LLM providers are trying to carve off that region for themselves. That’s a bad idea.Let’s back up. A number of European Union members have poured resources into promising AI startups. In last Wednesday’s release of Mistral 7B, an open-source LLM developed by Paris-based Mistral AI, the startup thanked the operators of Leonardo, a supercomputer... Read more ›
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As cloud providers struggle to cope with fast-growing demand for artificial intelligence computing, they may turn to a source of power that has gone largely untapped by the cloud industry: nuclear. What might be the first data center site with direct access to a nuclear power plant, located outside Berwick, Pa., is now on the auction block. The sale has drawn attention from cloud providers that are running out of... Read more ›
0
Silicon battery developer Enovix this week laid off 185 engineers and other staff at its Fremont, Calif., factory as it shifted the bulk of its operations to Asia, close to the smartphone manufacturers that it hopes will buy its cells.The moves, announced Tuesday, reflect a reality in the rapidly growing lithium-ion battery industry, which is that—given the weight and bulk of battery cells—battery and battery component manufacturers are likely to... Read more ›
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What a time to be a tech business reporter! Even as Sam Bankman-Fried’s fraud trial gets underway, our scoop yesterday about AI startup Anthropic’s rising valuation suggests that the disgraced FTX founder may have scored at least one home run with his Anthropic investment. Yes, that’s right: The fast-evolving story about AI startups has converged with the SBF drama. The big question is how much money FTX’s creditors can make... Read more ›
0
Last week, I was scrolling on LinkedIn when I noticed a new AI-powered assistant the professional social network is testing. The bot reviewed the part of my profile where I list my title and the “about” section, and drafted personalized suggestions “using insights from millions of profiles,” for me to review. It was the first time I had used this feature, which the Microsoft-owned social network had teased in March.... Read more ›
0
General Motors’ chief technology officer, Gil Golan, is leaving the job after one month, according to an internal company memo distributed today, parts of which were seen by The Electric. Golan’s departure, effective Nov. 1, comes one week after a profile in The Electric in which he described a plan to aggressively expand the company’s work in batteries, create a “dream team” of battery scientists, and manufacture batteries from the... Read more ›
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Sam Bankman-Fried’s criminal trial kicked off in a Manhattan courtroom on Tuesday with jury selection, followed by opening statements from both the prosecution and the defense earlier today. I went down to check out the action in person on Wednesday, where we got the first in depth look at how Bankman-Fried and his lawyers will defend the case. Marc Cohen, one of Bankman-Fried’s lawyers, repeatedly used the phrase “good faith”... Read more ›
0
To turn around X, the company formerly known as Twitter, Elon Musk and CEO Linda Yaccarino are betting on shopping and sports. As Musk and Yaccarino try and turn the company around, there are growing signs they want to make X a shopping destination. For instance, X managers are considering ways of using direct messages on the platform to offer one-click checkout to X users, according to three people familiar... Read more ›
2
How much should a well-regarded artificial intelligence startup be worth on paper?That’s the question facing scores of sovereign wealth funds, mutual fund firms and other private equity investors looking at two marquee AI opportunities: OpenAI and Anthropic. OpenAI is in the middle of its second employee share sale in the last six months, and if it succeeds, the new share price could imply an enterprise valuation of at least $80... Read more ›
3
Ryan Petersen’s clearout of Flexport’s top management is continuing. The company’s top engineering executive and longtime chief legal officer both departed the company this week, according to an internal memo reviewed by The Information. The logistics startup’s Asia sales head has also left the company, the memo said. The three exits follow an exodus of other senior executives since Petersen, Flexport’s founder, returned to the CEO role last month, ousting... Read more ›
0
The end of an era of historically low interest rates has been a boon for big banks, which can now earn more from the loans they make. But for financial tech startups that sought to challenge traditional lenders, steeper borrowing costs have provoked a reckoning, forcing some to hike fees and cut off their riskiest customers. Upstart, which focuses on personal and auto loans, reined in lending this year in... Read more ›
0
About a month ago, I finally reached my breaking point with YouTube TV, the streaming service I had subscribed to years earlier as a replacement for cable TV. I didn’t think twice about paying $40 a month for it in 2018, but after years of price increases—YouTube TV now costs $73 a month—I realized my family wasn’t watching it nearly enough to justify the money. So I ditched it. More... Read more ›
2
Anthropic, one of the main rivals of OpenAI, is in talks with investors to raise at least $2 billion in new funding, following a commitment from Amazon last week to invest $1.25 billion in the company, according to three people with direct knowledge. Anthropic has told investors that Google, which bought a roughly 10% stake in the startup in 2022, is expected to invest in the round, two of the... Read more ›
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How is Instagram going to resuscitate Threads? By focusing on Black creators and finding the sweet spot between hard news and pop culture. That’s what my colleague Sylvia reported in her article Monday about what's going on inside Instagram as it tries to breathe new life into the app, a rival to X (formerly known as Twitter). The jury’s still out as to whether any of these efforts will move... Read more ›
10
CEOs often speak from both sides of their mouth, depending on who their audience is. On Monday, Microsoft CEO Satya Nadella painted a scary picture of how Google could multiply its power in the age of artificial intelligence. His doom and gloom comments, made before a federal judge in Washington, contrasted with an upbeat Nadella from February who said that Microsoft’s Bing search—then being boosted by technology from OpenAI—would “make... Read more ›
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Nvidia’s ambition to compete with Amazon Web Services is growing. Nvidia is best known for designing server chips for artificial intelligence, but it has been running a nascent cloud service for corporate customers that develop AI with those chips. Nvidia operates the service, DGX Cloud, with servers located in the data centers of Microsoft, Oracle and Google, which limits what Nvidia can do with the servers. Now Nvidia may go... Read more ›
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Instacart’s stock price performance so far brings to mind a variation on the old line about love: Is it better to have gone public and lost, or never to have gone public at all? The shares fell 9% on Monday to $26.96, 10% below its IPO price, following our scoop that the Wall Street analysts at the banks underwriting the offering are projecting a severe slowdown in Instacart’s growth in... Read more ›
9
The cash machine of TikTok’s owner is getting bigger. ByteDance’s revenue rose 34% to $24.5 billion in the first quarter of 2023, a slight slowdown from its 38% revenue growth in the 2022 calendar year, according to detailed financial results viewed by The Information. But the company generated $6.8 billion in cash from operations in the period, an improvement from $5.8 billion in cash flows from operations in the same... Read more ›
9
Three months ago, Threads, Meta Platforms’ answer to Twitter, was the hottest social media app around. In just days, 100 million people had signed up for it. Since then, usage has plunged, prompting Meta staffers to look for ways to revive interest in the app. One top priority is getting creators to post more often, as a way of boosting the kind of content that might keep people coming back... Read more ›
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Most popular sources
Tech Wire Asia
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28% 12 |
Business Insider
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25% 9 |
Android Authority
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6% 2 |
Eurogamer.net
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5% 2 |
Mashable
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4% 1 |
| View sources » | |
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29.11.2024 20:33
Last update: 20:26 EDT.
News rating updated: 03:20.
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