In April this year, OpenAI CEO Sam Altman was asked during a talk at Stanford University about our report that his company had lost more than $500 million in 2022, just as it was releasing ChatGPT, and whether he was generally concerned about losses. His answer: "Whether we burn $500 million a year or $5 billion or $50 billion, I don't care. I genuinely don't. As long as we stay... Read more ›
18
In the spring of 2021, Snap leapt into action. After the teenage son of a television host died from what his parents said were fentanyl-laced Xanax pills purchased on Snapchat—Snap’s social media app—the company declared a “code red,” an expression it uses for its highest-priority projects, according to two people working at the company at the time. The company, whose business was then in the midst of a pandemic boom,... Read more ›
0
Silicon Valley law firm Cooley has hired David Wang as its first chief innovation officer to help the firm adapt to shifts in the legal industry set off by artificial intelligence and beyond. Wang, who held the same role at rival Wilson Sonsini Goodrich & Rosati, will start next month. ... Read more ›
5
ServiceNow’s second quarter revenue grew 22%, boosted by the company’s generative artificial intelligence business. The software maker said it expects subscription revenue—the majority of its revenue—to grow 22% in 2024, half a percentage point faster than it expected in April. Shares rose 7% ... Read more ›
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Tech investors often embody the distracted boyfriend meme—the stock image where a man looks back admiringly at another woman, to the horror of his girlfriend. In that same vein, investors are always looking for the next hot thing. Companies working on earlier iterations of artificial intelligence technology, like machine learning, must have felt like the forgotten girlfriend as generative AI and all the infrastructure powering it understandably distracted investors looking... Read more ›
0
The NBA is rejecting Warner Bros. Discovery’s proposal to match one of its new NBA rights deals, which is setting the stage for a legal dispute between the league and one of its longest broadcasting partners. In a statement, the NBA said WBD’s proposal did not match the terms that the ... Read more ›
0
The NBA announced $77 billion in new TV and streaming rights deals with Disney’s ESPN, Comcast’s NBCUniversal and Amazon, significantly reshaping how games from one of the most popular sports leagues will be watched by fans starting with the 2025 season. The new 11-year deals, which will run ... Read more ›
0
Fan fiction that riffs on beloved stories has long been popular with readers who can’t get enough of their favorite writers. Now, a Khosla Ventures-backed startup is trying to make it even easier for readers to satisfy their appetite.Inkitt, a startup that lets writers self-publish books and uses artificial intelligence to edit, distribute and sell the most promising works on its Galatea app, this week unveiled a new generative AI... Read more ›
0
The NBA is rejecting Warner Bros. Discovery’s proposal to match one of its new NBA rights deals, which could potentially set the stage for a legal dispute between the league and one of its longest broadcasting partners. In a statement, the NBA said WBD’s proposal did not match the terms that the ... Read more ›
0
Around the start of the year, Anthropic projected it would burn more than $2.7 billion in 2024 as it developed new conversational artificial intelligence, The Information reported. Valued at $18 billion in a March financing, the OpenAI rival projected about $800 million in annualized revenue, or ... Read more ›
0
Seven data scientists from the University of California, Berkeley, founded Databricks in 2013 to build a business around open-source software for data storage and analysis. As the company nears a possible initial public offering 11 years later, Databricks can boast a rare feat for startups its age: Nearly all of its co-founders still work there. The tight-knit founding team includes CEO Ali Ghodsi, who meets weekly with four of his... Read more ›
0
Nvidia has a new workaround to U.S. export rules that block the sale of the most advanced artificial intelligence chips to China—pairing the chips with a special server. The company will next year launch a new AI chip specially tailored for the Chinese market that will be sold alongside a new server designed to maximize the performance of the chip, according to two people involved in developing the server. While... Read more ›
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If you haven’t caught our analysis of OpenAI’s finances in a story we published this morning, it’s worth a read. My colleagues Amir and Aaron have gone deep on how much the ChatGPT creator is spending on computing capacity and other expenses, based on previously undisclosed internal data. Paired with estimates of revenue, they’ve put a number on how much money the company is losing.Their conclusion is OpenAI will need... Read more ›
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OpenAI has built one of the fastest-growing businesses in history. It may also be one of the costliest to run. The ChatGPT maker could lose as much as $5 billion this year, according to an analysis by The Information, based on previously undisclosed internal financial data and people involved in the business. If we’re right, OpenAI, most recently valued at $80 billion, will need to raise more cash in the... Read more ›
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Nvidia has told suppliers that it will start incorporating Samsung Electronics’ fourth and fifth-generation advanced memory chips, HBM3 and HBM3E, into its AI chip cards, according to two people who received notices from Nvidia. HBM, which stands for high bandwidth memory, is crucial to ... Read more ›
0
Tesla shares fell more than 8% in after-hours trading after the company reported a 45% drop in second-quarter profit year on year. The electric vehicle maker has now reported lower deliveries for two consecutive quarters and missed Wall Street earnings forecasts for four straight quarters. ... Read more ›
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Google kicked off big tech’s portion of the summer earnings season with what seemed a middle-of-the-road report. Artificial intelligence appeared to give Google Cloud a bit of a lift, while search delivered another decent quarter. The outlier, surprisingly, was YouTube, for which ad growth slowed meaningfully.That raises the question of whether Amazon’s push into TV advertising on Prime Video might be taking some of the wind out of YouTube’s sails.... Read more ›
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Spotify posted a 20% increase in second-quarter revenue and lower operating expenses, boosting quarterly profit and free cash flow. Shares rose 12%. The audio service reported revenue of just over $4 billion and operating income of $289 million, reversing an operating loss of $268 million in the ... Read more ›
0
Meta Platforms’ latest open-source Llama model is competitive with leading conversational artificial intelligence models and the company expects future models to be the most advanced in the industry, CEO Mark Zuckerberg said in a blog post on Tuesday. Read more ›
0
Greetings from San Francisco, where unprecedented political chaos has forced venture capitalists into political debates.Last week, it seemed as if all of Silicon Valley had rallied behind former President Donald Trump. Now, Silicon Valley’s Democrats are becoming more vocal, with a candidate they can openly support in Vice President Kamala Harris. And as more techies throw their support behind her, things are bound to get tense between the venture capitalists... Read more ›
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Most popular sources
Business Insider
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28% 1 |
Tech Wire Asia
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15% |
CNET
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7% 2 |
The Verge
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6% 1 |
MacRumors
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5% 3 |
| View sources » | |
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26.11.2024 09:49
Last update: 09:41 EDT.
News rating updated: 16:42.
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