Shares of database provider Snowflake jumped more than 19% in the wake of its report after dropping less than 1% in regular trading. Investors seemed to be encouraged that the company sailed well past its earlier quarterly product revenue projections and raised its full-year ... Read more ›
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One month ago, we broke the news that Harvey, a startup that sells AI-powered legal software, was looking to raise $600 million in funding at a valuation of at least $2 billion. The firm told investors that it planned to use some of the capital to acquire vLex, a 25-year-old legal research firm majority-owned by private equity firm Oakley Capital.As things turned out, though, the acquisition fell apart and the... Read more ›
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Microsoft is second only to Nvidia in the eyes of investors looking to benefit from the generative artificial intelligence boom. But its deluxe valuation suggests the market is underestimating the challenges it could face in its AI expansion, including possible profit margin declines or losing market share in enterprise software. Those looking to bet on the AI lift enjoyed by a big tech company might be better off buying less-expensive... Read more ›
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David Ellison’s Skydance Media has agreed to acquire National Amusements, Shari Redstone’s family company and controlling stakeholder of Paramount Global, according to a person familiar with the matter. Skydance and its backers would pay $1.75 billion for National Amusements, ... Read more ›
0
Happy anniversary, Andy Jassy! Well, almost. On Friday, the Amazon CEO will celebrate the third anniversary of his ascension to the top job. And this year Jassy has something to really celebrate.Amazon’s stock closed today at $200, its highest point ever. It’s also 14% higher than when Jassy took the reins, which might not sound like a lot but, hey, don’t forget Amazon stock cratered with the 2022 stock market... Read more ›
1
David Ellison’s Skydance Media has agreed to acquire National Amusements, the parent company of Paramount Global and Shari Redstone’s family company, for $1.75 billion, according to The Wall Street Journal. It’s the latest swerve in a monthslong deal drama between Skydance and National ... Read more ›
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The Benchmark of today is nothing like the Benchmark of 1995, the year the storied venture capital firm behind Uber, Twitter and Snap was founded. At least that’s what its five partners maintain in a new letter to limited partners, which details its plan to raise another $425 million fund. To underscore the change, Benchmark is calling its next fund, the firm’s 11th, Benchmark 1 and will follow this sequence... Read more ›
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Apple will receive an observer role on OpenAI’s board, following the partnership between the two companies announced last month, Bloomberg reported. Under the partnership, Apple is using OpenAI’s technology to power some iPhone AI capabilities. The board observer position, which will take effect ... Read more ›
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VidCon was certainly missing some of its pizzazz this year. The annual creator economy conference in Anaheim, Calif. felt light on brands, which previously have shelled out big bucks for interactive pop-up experiences. The big tech companies also had a scaled-back presence. Instagram and YouTube skipped hosting big parties altogether, and the convention center floor—where brands set up shop—felt much sparser than usual and seemed especially geared toward kids and... Read more ›
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Apple will receive an observer role on OpenAI’s board, following the partnership between the two companies announced last month, Bloomberg reported. Under the partnership, Apple is using OpenAI’s technology to power some iPhone AI capabilities. The board observer position, which will take effect ... Read more ›
0
Google said its emissions of greenhouse gasses rose 13% in 2023 on increased data center energy use and higher supply chain emissions, underscoring the costs of the company’s push to integrate energy-intensive AI features across its products. The disclosure, which Google made in its annual ... Read more ›
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Runway, already the best funded among a cluster of startups developing artificial intelligence software to generate videos for Hollywood and more amateur filmmakers, is trying to strengthen that lead with a new round of financing. The firm is in talks with investors to raise $450 million at about a $4 billion valuation, according to a person involved in the deal and a person who spoke with Runway executives. General Atlantic,... Read more ›
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Tesla vehicle deliveries fell for the second quarter in a row but beat Wall Street’s estimates, sending the electric car maker’s stock up more than 8% to its highest price since January. Tesla delivered 443,956 cars to customers in the second quarter, down nearly 5% from the same period a year ... Read more ›
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When Meta Platforms’ chief artificial intelligence scientist Yann LeCun last month posted on LinkedIn about Meta’s strategy of releasing its large language models for free, some commenters praised its approach, saying it was “reshaping industry collaborations.” Others disagreed with LeCun’s description of the strategy as “open-source.”“They should absolutely get credit for open model NOT open source—calling something open source without being open source is really misrepresenting the open source movement,”. Read more ›
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As résumés go, Derek Rundell’s is a doozy. The self-described serial entrepreneur briefly worked as a consultant for Michael Jackson, the late pop star, and he wrote, directed and acted in “Zombie Sitter,” a low-budget movie about a preteen navigating a post-apocalyptic world following a meteor shower that has turned the population into the walking dead. But in 2013, Rundell started working for a powerful client: Eric Schmidt, a longtime... Read more ›
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Maybe tech companies need to put European regulators on their boards! The European Commission on Monday added Meta Platforms to the list of companies that are not complying with its new Digital Markets Act. The agency doesn’t like the fact that Meta is giving Europeans the choice of either paying a subscription fee for Facebook and Instagram, or paying nothing and agreeing to the use of their data in targeted... Read more ›
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French regulators are preparing to charge Nvidia for engaging in potentially anticompetitive practices, according to a report by Reuters. The charges would come months after French authorities searched a local Nvidia office as part of an investigation into anticompetitive practices. It’s not ... Read more ›
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The Securities and Exchange Commission on Monday sued Silvergate Capital and its three former top executives, alleging the California lender misled investors on operational and legal risks from its crypto customers. The bank falsely stated it had an effective compliance program even though it “ ... Read more ›
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The U.S.––the world’s innovation hub and leader in cutting-edge artificial intelligence––risks ceding its leadership through policy missteps driven by Big Tech’s outsize influence. In Washington and across the country, Big Tech wants to shape regulations to extend its dominance. That includes efforts to restrict the development of open-source technology, a key driver of innovation that will help determine the global leader in the development, deployment and application of AI. This... Read more ›
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I never thought I’d say this about a nearly 50-year-old company, but Microsoft is turning out to be a trendsetter.First, Microsoft’s $10 billion investment and partnership with OpenAI early last year prompted rival cloud providers to team up with conversational artificial intelligence developers—namely, Amazon Web Services’ similar pact with Anthropic. Then Microsoft’s Copilot AI products set the roadmap of Google. Now, Microsoft seems to be teaching AWS how to do... Read more ›
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A year ago, Character.AI had the wind at its back. Founded by two artificial intelligence pioneers from Google, the startup had launched AI chatbots that offered what its far larger rivals hadn’t yet provided: something fun. Millions of people had signed up for its website and apps, intrigued by the chance to text with facsimiles of anime characters, TV personalities and historical figures in hyper-realistic roleplay. Executives discussed raising additional... Read more ›
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Most popular sources
Business Insider
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29% 0 |
Wired
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9% 5 |
Tech Wire Asia
|
7% 4 |
Gizmodo
|
6% 0 |
The Verge
|
5% 2 |
| View sources » | |
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26.11.2024 21:20
Last update: 21:11 EDT.
News rating updated: 04:10.
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