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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Say what you will about Elon Musk, at least he is consistent. CNBC broke news today about Musk redirecting a shipment of Nvidia’s highly valued AI chips from Tesla to Musk’s privately held X and xAI, crystallizing concerns that some Tesla shareholders have about Musk’s divided loyalties. Once again, we have evidence that in his management of numerous companies, Musk moves staff (and other resources) between them as though they’re... Read more ›
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Over the past year, a wave of venture capitalists have left their firms as the industry wrestles with a steep correction. Now, some are teaming up with each other for their next gig. Former Andreessen Horowitz general partner Kristina Shen is joining former Index Ventures partner Mark Goldberg and former Bessemer Venture Partners partner Ethan Kurzweil to start their own venture firm, according to two people who spoke to the... Read more ›
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Hollywood veteran Jeffrey Katzenberg has raised $460 million for his investment firm WndrCo’s first set of dedicated venture capital funds, including a $60 million seed fund. The new fund stands out in a tepid year for VC fundraising—and shows Katzenberg’s name has plenty of pull with investors. That’s despite the collapse of Quibi, the short-form video app he co-founded, four years ago.Katzenberg said attention around the high-profile failure has faded.... Read more ›
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MrBeast has a new chief operating officer for his holding company: Jeffrey Housenbold, a former SoftBank Vision Fund managing partner who backed companies including DoorDash and took Shutterfly public as CEO in 2006. Housenbold’s background and new title indicates that MrBeast has high ambitions for his growing business empire, which includes chocolate bar company Feastables. It suggests he could even try to take individual businesses—or his entire holding company—public at... Read more ›
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As the artificial intelligence boom continues, questions about safety and ethics are more important than ever. In partnership with Salesforce, Aaron Holmes of The Information held a virtual panel to discuss the intersection of safety, technology and regulatory frameworks for AI with three powerhouses in the industry: Kathy Baxter, principal architect, Ethical AI Practice, Salesforce Dr. Sara Hooker, VP of research and head, Cohere for AI Dr. Sasha Luccioni, AI... Read more ›
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Apple was in talks last year to launch its Apple TV+ video streaming service in China via a deal with China Mobile, the country’s largest telecommunications provider, according to people with knowledge of the matter. If successful, the talks would make Apple TV+ the only U.S. streaming service to be available in China, one of the world’s biggest markets. The status of the talks is unknown. But Apple has good... Read more ›
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As companies like OpenAI, Anthropic, Google and Meta Platforms race to leapfrog each other with marginally faster, cheaper or more accurate large language models, a number of developers have told me that these LLMs are beginning to reach parity when it comes to performance.And now, new exclusive data from Kruze Consulting, a finance and HR consulting firm, backs up those anecdotes. Over the last year, the proportion of the firm’s... Read more ›
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TikTok parent ByteDance is raising between $700 million and $800 million for its online auto information and marketplace business Dongchedi, according to three people with direct knowledge of the matter, in preparation for an initial public offering for the unit. Plans for an eventual IPO are part of a bigger plan by the Chinese tech giant to spin off businesses it no longer considers core, abandoning an unsuccessful diversification effort.... Read more ›
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Who said inflation was moderating? Spotify on Monday announced its second price increase in less than a year: The two price rises together total between 20% and 30%, depending on the tier. Jacking up prices so much in such a short period of time is a gutsy move by CEO Daniel Ek, whose company has long struggled to make any real money, due to its need to pass on most... Read more ›
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In its first earnings report as a public company, Reddit last month said its average revenue per user in the first quarter rose 8% from a year earlier. The biggest reason: new deals in which Reddit is licensing the billions of words and images on its site to developers of large language models. For the year, Reddit said it expected more than $66 million of revenue from such deals, which... Read more ›
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Boston-based bank State Street Corp. is once again hiring for its digital-assets division, which plans to offer crypto custody service, less than six months after cutting jobs in the department. The move reflects growing confidence that crypto and tokenized assets will become more integrated into the financial system. The bank is pressing ahead with the plan despite U.S. President Joe Biden’s late Friday veto of a bill last week that... Read more ›
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Artificial intelligence that automates multi-step tasks on the web, such as organizing and booking a trip, is still under development. But it may be only a matter of months before big developers such as Google, Meta Platforms, OpenAI and others release such time-saving tools.We’ve been wondering where Amazon will be in this race, and how it might leverage its army of Alexa voice assistant devices scattered across the globe. Most... Read more ›
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Etsy has a problem. For about the past year, the site, which pitches itself as a place to buy unique goods like handmade jewelry and custom clothing, has become overrun with products from overseas sellers that are also listed—often for less money—on newer bargain sites like Temu. In recent months, Etsy has been developing more tools to try to rid its site of those products and better enforce its longstanding... Read more ›
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Artificial intelligence chatbots such as OpenAI’s ChatGPT and Google’s Gemini consume several times as much power as an ordinary Google search, and the insatiable tech companies are demanding yet more from them at a scale that can overwhelm the grid. Read more ›
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Millions of consumers who kept their savings with digital banking startups such as Yotta or Juno have lost access to their money as a result of this month’s collapse of a little-known fintech called Synapse Financial Technologies. Synapse, which supplies some of the basic plumbing that allows startups to offer banking services, filed for bankruptcy protection in early May amid accusations from numerous onetime fintech clients and banks that tens... Read more ›
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Welcome, Weekenders! In this newsletter:A Wall Street titan with Sequoia money  The very best ghostwriters for conjuring a bestsellerPlus: When crooks fell in love with an FBI messaging app; the tech that sparked a toe-curling scandal; and a joyous apocalypse.Melinda French Gates is wasting no time apparently. Less than a month after announcing her departure from the Gates Foundation, which she ran with ex-husband Bill Gates, the billionaire made headlines... Read more ›
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You’re a successful founder or C-suite exec at the pinnacle of your career, looking to climb one more mountain: the bestseller list. Whether you want to write a book to share the lessons you’ve learned, launch a personal platform or cement your legacy, a great ghostwriter—one who can channel your voice, act as a thought partner and help you construct a compelling narrative—might be just the person to help make... Read more ›
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What happened to all that AI euphoria we were hearing about for much of the past year? A big sell-off in enterprise software stocks this week dragged down names from Microsoft to Salesforce to Adobe. It demonstrated just how jittery investors are about the state of the software market. That makes sense: Executives at Salesforce, UIPath and other companies have acknowledged in recent days that businesses have turned hesitant about... Read more ›
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While I was off discussing AI and media, the rest of the More or Less gang was.... discussing AI and media! I loved this podcast (as a listener) and know you will too. And Brit, I want my office back! Have a great weekend. Apple Spotify YouTube Read more ›
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The popular image of Ken Griffin is that of a master manipulator of financial markets, the bogeyman of a generation of memestockers who spin conspiracy theories about his company, Citadel Securities, interfering with their ability to trade shares of GameStop. But two decades ago, when his hedge fund was still young, Griffin was the one who seemed intimidated. “I hate this,” said Griffin. The Citadel hedge fund founder’s palms were... Read more ›
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Most popular sources
Business Insider
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20% 13 |
Wired
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10% 7 |
The Verge
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9% 2 |
Android Authority
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7% 4 |
Tech Wire Asia
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7% 3 |
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27.11.2024 04:39
Last update: 04:30 EDT.
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