Since they began seriously building electric vehicles around 2020, Western automakers have stubbornly clung to nickel-based batteries despite their relatively high cost and vulnerability to supply chain snarls. But in a growing shift, more Western players are moving to lower-cost iron-based batteries, which are likely to be the world’s dominant EV battery chemistry by 2026, according to a new report. Read more ›
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What a difference a snazzy presentation makes! Apple regained its status as the most valuable company for a few hours on Wednesday as its stock rallied for the second day in a row following its Monday artificial intelligence revelations. By day’s end, though, investors seemed to realize they’d gone overboard. Apple stock fell back from its highs, while shares of Microsoft—which arguably has a stronger AI story to tell, given... Read more ›
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Hiring is a perennial headache for creators. Most rely on recommendations from other creators or use their own social media accounts to spread the word. Complicating matters is that often they’re looking for short-term help or people with a specific skill set, such as experts in YouTube thumbnail design.Roster, a hiring website that officially launched on Wednesday, is focused on helping creators and businesses hire behind-the-camera talent, ranging from video... Read more ›
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OpenAI has more than doubled its annualized revenue to $3.4 billion in the past six months or so, OpenAI CEO Sam Altman has told staff, a sign that growth in the ChatGPT developer’s business is accelerating despite intensifying competition. Annualized revenue—a measure of the past month’s revenue multiplied by 12—was $1.6 billion in late 2023, The Information previously reported, and about $1 billion last summer. That rapid growth reflects how... Read more ›
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Trustees for bankrupt fintech Synapse are still hunting for $85 million in lost customer money. But that hasn’t stopped the company's former chief executive Sankaet Pathak from raising millions in funding for a new robotics venture, Foundation. He’s already got a $10 million commitment from Tribe Capital, an early-stage venture firm, according to a person with direct knowledge of the financing. Tribe’s co-founder Arjun Sethi co-founded the humanoid and robotics... Read more ›
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When Apple on Monday showed off the artificial intelligence that will soon land in some of our iPhones, some developers praised the company for running many of the new features directly on the iPhone, rather than in the cloud as other companies do. Like Apple, which has made user privacy and security central to its marketing, these developers say they’re also concerned about privacy.Apple’s on-device model is a small language... Read more ›
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Tech companies may soon be on a shopping spree, as the world adjusts to high interest rates and companies start looking for ways to juice growth. And for investors inclined to make a bet on potential targets, they need not go much further than two enterprise tech firms: GitLab and DocuSign. That’s our conclusion from wading through numerous publicly traded software firms identified by Wall Street analysts, and after talking... Read more ›
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Talk about fighting for crumbs. Microsoft and OpenAI announced Tuesday that they’ll tap Oracle’s cloud servers for “additional capacity for OpenAI.” That counts as great news for Oracle, sending its stock up 9% in after-hours trading. Investors overlooked the fact that Oracle also reported Tuesday that its cloud revenue growth slowed by several percentage points from the previous quarter, to 20% in the three months ended May 31. The slowdown... Read more ›
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BeReal was the hot app among venture capitalists and Gen Zers in 2022, a feat it used to lasso a $585 million valuation from Coatue Management and DST Global that year. The app’s once-scorching growth has cooled—yet it still managed to sell itself to French gaming company Voodoo for $537 million. In this era of fire sales, that’s cause for a celebration.“You’re seeing an M&A market opening up that’s been... Read more ›
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For the last 24 hours, Apple’s newly unveiled artificial intelligence features have sucked up much of the oxygen in the room when it comes to tech headlines (more on that here). As many journalists remarked, Apple is playing catch up to some of its rivals, notably Google, whose AI-infused products have been in the wild for months. That’s enough time for creators to start worrying about how the new features... Read more ›
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On a basic level, none of the artificial intelligence Apple announced on Monday came as a surprise. But there's a big difference between a news report describing what Apple is going to launch and seeing the finished product, and in that regard Apple delivered a cogent presentation that put Google's sprawling AI keynote from May to shame.Also, as promised, Apple gave plenty of prominence to OpenAI's ChatGPT for powering some... Read more ›
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Among the hundreds of American artificial intelligence startups launched in the last few years, those founded by China-born entrepreneurs exercised a unique advantage: They could hire less expensive, talented engineers based in China. Now, as the geopolitical battle between the U.S. and China increasingly extends to AI, these startups are scrambling to sever ties with their homeland. One example is two-year-old Opus Clip, whose generative AI video-editing tool allows creators... Read more ›
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Apple just delivered a master class in how to explain complex technology to ordinary people. Its presentation on Monday of how it will harness the latest artificial intelligence advances in its software was well done, to say the least. If you’ve been wondering exactly what AI can do—other than overhyped exercises such as designing a menu for a dinner party—you will now know. These are not world-changing advances, to be... Read more ›
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OpenAI has hired two Silicon Valley veterans in finance and product roles as it prepares to launch new consumer products and a high-profile partnership with Apple, according to a person with direct knowledge of the hires. Sarah Friar, who was most recently the CEO of Nextdoor, a social network for neighborhoods, is joining as the company’s first chief financial officer. Kevin Weil, who previously headed up product at Twitter and... Read more ›
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When Squarespace announced a deal to be taken private by private equity Permira for $6.9 billion last month, it ended an unhappy three-year chapter as a publicly listed company for the DIY website maker. Squarespace was one of the more than 100 tech firms that went public during the frothy days of 2021. Like many of those firms, the IPO has proved a dud. Squarespace went public at $50 but... Read more ›
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Excitement this morning about Apple's planned reveal of artificial intelligence features during its WWDC event for app developers is more than warranted. While it might not be as mind-blowing as the Kling AI video teasers from China’s Kuaishou last week, Apple’s expected improvements to Siri; new tools to let people automatically generate responses to emails and texts; and a possible chatbot app powered by OpenAI will be a crucial test... Read more ›
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China-founded fast fashion giant Shein lifted its net profit margin even as it posted slightly faster revenue growth in 2023, two people with direct knowledge of its finances said. That performance should help Shein lure investors for a highly anticipated initial public offering—if it can convince regulators to sign off. Shein recorded $32.2 billion in sales last year, up 40%, compared with 37% growth in 2022, despite rising competition from... Read more ›
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Mercedes-Benz and Stellantis last week froze construction of two European battery gigafactories they were building through a joint venture. The companies want to take a fresh look at the plants in hopes of reducing the price of their electric vehicles, driven in large part by the cost of the batteries, the most expensive component in an EV. If they can reduce the cost of their batteries, perhaps they can sell... Read more ›
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Open-source software has become a big business, even for some of the nonprofit organizations dedicated to coordinating the far-flung communities of programmers that contribute to open-source projects, usually without pay. That’s especially true of the Linux Foundation. That organization, which oversees the development of the Linux operating system, has seen its revenue soar over the 17 years since it formed, as it has grown to encompass hundreds of other open-source... Read more ›
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Welcome, Weekenders! In this newsletter:A lone shining light in food tech’s dark ageThe best summer camps for grownupsPlus: A tremendous trek through the Grand Canyon; “Succession” in breeches and gowns; and a gamified interview show.Venture capitalists excel at many things. For starters, they’re quite good at losing other people’s money. They’re also quite good at taking deep bows and patting themselves on the back when they actually manage to make... Read more ›
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Most popular sources
Business Insider
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31% 4 |
Wired
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10% 7 |
Tech Wire Asia
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7% 5 |
The Verge
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6% 1 |
Gizmodo
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6% 0 |
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27.11.2024 01:30
Last update: 01:21 EDT.
News rating updated: 08:21.
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