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The Information
Kalley Huang @ The Information · 08/29/2024 18:39 EDT

Character.AI, the chatbot maker whose co-founders were rehired by Google as part of a deal earlier this month, laid off staff on Thursday, according to a note to employees viewed by The Information. At least 5% of Character’s roughly 120 employees were cut, according to a person briefed by ... Read more ›

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The Information
Kalley Huang @ The Information · 08/29/2024 18:38 EDT

OpenAI’s ChatGPT has more than 200 million weekly active users, a spokesperson for the company said Thursday. That’s double the number of users it reported at its developer conference last November. “People are using our tools now as a part of their daily lives, making a real difference in areas ... Read more ›

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The Information
Kalley Huang @ The Information · 08/29/2024 18:33 EDT

Meta Platforms’ artificial intelligence assistant, Meta AI, had at least 400 million monthly active users and 40 million daily active users in early August, less than a year after launching the product, The Information reported. Meta has pushed its assistant to the more than 3 billion people who ... Read more ›

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The Information
Kate Clark @ The Information · 08/29/2024 18:13 EDT

For weeks we’ve been talking to investors about an expected funding round for OpenAI. The mega financing is finally happening! CEO and co-founder Sam Altman has told employees the company is raising more money, according to a person with direct knowledge. But not every investor approves of the staggering new valuation.  Read more ›

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The Information
Kaya Yurieff @ The Information · 08/29/2024 17:03 EDT

Former San Francisco 49ers quarterback Colin Kaepernick has spent the past several years building his own media and publishing companies. The efforts showed him some of the challenges people face when trying to get their creations out into the world, from production costs to publishers shooting down their ideas.  Last month, he launched Lumi, a new artificial intelligence startup that provides tools to independently create, publish and merchandise their own... Read more ›

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The Information
Ann Gehan @ The Information · 08/29/2024 16:40 EDT

Affirm shares closed more than 30% higher on Thursday, a day after the installment lender said it expects to turn profitable on a GAAP basis by the fourth quarter of its fiscal year ending next June. CEO Max Levchin said in an investor letter that the company would likely benefit from lower ... Read more ›

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The Information
Kalley Huang @ The Information 1 place · 08/29/2024 15:55 EDT

Meta Platforms CEO Mark Zuckerberg wants his company’s artificial intelligence assistant, Meta AI, to be the world’s “most used AI assistant” by the end of this year, eclipsing OpenAI’s ChatGPT. He seems to be making progress. In early August, less than a year after its debut, Meta AI had at least 400 million monthly active users and 40 million daily active users, according to two current employees. Read more ›

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The Information
Amir Efrati @ The Information · 08/29/2024 15:21 EDT

Apple, Nvidia Reportedly Discussed Funding OpenAI

Nvidia and Apple have discussed participating in an upcoming funding of OpenAI, Bloomberg reported Thursday, as the ChatGPT maker nears a multibillion-dollar deal to help cover mounting costs. Microsoft would also contribute funds as part of a round potentially led by Thrive Capital, an existing ... Read more ›

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The Information
Sylvia Varnham O'Regan @ The Information · 08/29/2024 11:11 EDT

Former President Donald Trump has accused Meta Platforms CEO Mark Zuckerberg in a forthcoming book of plotting against him in the last election, and said Zuckerberg would “spend the rest of his life in prison” if he did “anything illegal” in the 2024 cycle, Politico reports. In the book, titled ... Read more ›

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The Information
Stephanie Palazzolo @ The Information · 08/29/2024 10:10 EDT

Jensen Goes on the Defensive

Another quarter, another (almost) blowout earnings report from chip giant Nvidia. But this time, Wall Street isn’t too appreciative.Nvidia stock opened Thursday morning down a few percentage points, following a slightly bigger sell-off in after-hours trading Wednesday night during Nvidia’s call. What gives? After all, revenue in the last quarter soared 122% to $30 billion from a year earlier, driven by sales of the chips needed to train and run... Read more ›

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The Information
Anita Ramaswamy @ The Information 2 place · 08/29/2024 09:00 EDT

Salesforce’s Marc Benioff and ServiceNow’s Bill McDermott are master salespeople. But neither has developed a cult following among individual investors as successfully as Palantir CEO Alex Karp. With his proclamations on patriotism—“We founded this company to be a ray of light to America and our Western allies”—Karp has turned Palantir into a kind of meme stock with a valuation that can only be described as exorbitant. Having risen 83% so... Read more ›

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The Information
Erin Woo @ The Information · 08/28/2024 20:41 EDT

Yelp sued Google in federal court in San Francisco on Wednesday, alleging that Google used its monopoly in search to gain an advantage over competitors like Yelp in the local search business. Yelp is seeking monetary damages and an order that Google stop its alleged anticompetitive practices. ... Read more ›

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The Information
Martin Peers @ The Information · 08/28/2024 20:00 EDT

Nvidia CEO Ducks Key Questions

For all the Nvidia watchers out there, including superfans of the stock who have kept track at bars, we’ve got good news and bad news. The good news is that Nvidia delivered another set of monster earnings. It reported top-line growth of 122%—a little above its own projections—lifting net income 168% to $16.6 billion. The bad news is that we learned nothing to answer the trillion-dollar question of whether the... Read more ›

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The Information
Rocket Drew @ The Information · 08/28/2024 19:33 EDT

Proposed California legislation that seeks to regulate artificial intelligence makers passed a vote in the state Assembly 41 to 9 on Wednesday, overriding mounting objections from business groups and bi-partisan lawmakers, including some of the state’s top Democrats. With the vote, SB 1047 will ... Read more ›

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The Information
Julia Hornstein @ The Information · 08/28/2024 18:32 EDT

A federal court in Illinois has breathed new life into a two-year-old class action suit against a handful of creators and the makers of Blue Ice Vodka. The suit claims the Instagram influencers and the vodka maker engaged in false advertising about the “handcrafted” drink’s “health benefits” and failed to disclose their paid relationships.The court’s June decision, which denied the defendants’ motion to dismiss, could open the door to more... Read more ›

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The Information
Jon Victor @ The Information · 08/28/2024 17:03 EDT

Salesforce Reports Higher Revenue, Free Cash Flow As CFO Weaver Departs

Salesforce grew revenue by 8% year over year to $9.33 billion in the quarter ended July 31, eking out an increase as many enterprise software companies face sales headwinds. The company also said Wednesday that Amy Weaver, Salesforce’s president and chief financial officer, will step down from ... Read more ›

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The Information
Anissa Gardizy @ The Information · 08/28/2024 16:49 EDT

Nvidia Reports 122% Revenue Growth, Confirms Chip Delay

Nvidia revenue rose 122% year-over-year to $30 billion in the quarter that ended in July, ahead of the company’s projections. But its gross margin fell for the first time in more than a year, due to costs related to problems with its new Blackwell chip. Nvidia confirmed a report from The ... Read more ›

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The Information
Nick Wingfield @ The Information · 08/28/2024 16:38 EDT

Pavel Durov, the CEO of Telegram who was detained last weekend in France, was charged with a range of criminal offenses by a prosecutor in Paris on Wednesday, including complicity in the distribution of child pornography and drug trafficking. According to a statement from the prosecutor, Laura ... Read more ›

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The Information
Kate Clark @ The Information · 08/28/2024 16:35 EDT

Thrive Capital is leading a multi-billion-dollar investment in OpenAI, the developer of ChatGPT, at a valuation north of $100 billion, according to a Wall Street Journal report. The New York-based venture capital firm, led by Josh Kushner, is already a major OpenAI shareholder and plans to ... Read more ›

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The Information
Erin Woo @ The Information · 08/28/2024 15:47 EDT

Google Relaunches AI Image Generation of People, Promising Improvements

Google will start to allow Gemini users to generate images of people, months after restricting the feature following backlash over historically inaccurate results to some queries. Dave Citron, a Gemini senior director, wrote in a blog post on Wednesday that Google had made “significant progress ... Read more ›

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