Crypto has always been a boom-and-bust business. And right now, Coinbase is flush. That has allowed the crypto exchange to lend more money to big traders, which have struggled to borrow since the 2022 market collapse wiped out Genesis, Voyager and most other big crypto lenders. Coinbase’s loans to customers swelled to nearly $800 million at the end of March from $194 million a year earlier, with the exchange using... Read more ›
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In a new move meant to protect the nascent U.S. electric vehicle battery industry, the Biden administration will announce a 25% tariff on Chinese-made synthetic graphite later this month, to be imposed in stages over the next two years, a U.S. official said. Read more ›
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Wall Street traders sent U.S. stocks to all-time highs on Wednesday. An ebullient market, pleased with easing inflation, liked big tech even more. Most of the tech giants like Nvidia, Meta Platforms and Microsoft saw gains higher than the S&P 500. As if those companies need more help, the market’s friendliness plays into big tech’s hands. Microsoft, Alphabet, Meta and Amazon need investors to overlook blemishes to their profit margins... Read more ›
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Stability AI, which has emerged as a poster child for investors’ rush to back unproven artificial intelligence startups, has talked to at least one potential buyer in recent weeks about a sale as its faces a cash crunch, according to a person involved in the conversations. The four-year-old startup raised at least $101 million from marquee investors including Coatue Management and Lightspeed Venture Partners. It fetched a $1 billion valuation... Read more ›
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Duolingo has made its TikTok account a hit with users, emerging as an example of how companies can find a voice on short-form video. It’s got a plan for a potential TikTok ban. The language learning app, best known by its pushy owl mascot, has been expanding its presence on YouTube Shorts since early last year. For example, it ran a 10-part sitcom-style series on Shorts focusing on another one... Read more ›
0
Google has spent the past year and a half chasing OpenAI’s conversational artificial intelligence. But as the technical gap narrows between their products, the companies this week revealed an important difference in how their AIs will interact with people. (To read the five main takeaways from Google’s two-hour spate of announcements, see this article we published last night.)Here’s what’s going on. OpenAI on Monday unveiled an emotionally expressive female-sounding AI... Read more ›
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A New York Yankees fan who wants to watch all of the team’s games this year needs more than a cable TV subscription. They’ll also need access to Amazon Prime, Apple TV+ and Roku, each of which has exclusive rights to stream certain games. It’s not just baseball. Once, an NBA fan only needed a cable TV subscription with the right national and regional channels to watch each of their... Read more ›
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Google on Tuesday gave its supporters and detractors a lot of fodder after a two-hour showcase of new conversational artificial intelligence for consumers and businesses. Although CEO Sundar Pichai described relatively few major technological breakthroughs during the marathon session, the dizzying array of new AI features in dozens of existing products from search to Gmail was a reminder of how Google is using its scale to gain users, if not... Read more ›
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The season of AI hype continues. Yesterday it was OpenAI. Today it was Google, which used its annual developer conference, Google I/O, to chronicle all of the ways it’s pushing the ball forward in artificial intelligence. Google is part of a $2 trillion–plus company, so it had a lot of ground to cover, which may explain why its event clocked in at about two hours, including an opening act, musician... Read more ›
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In the world of artificial intelligence, startups are raising heaps of cash from cloud and chip providers like Google and Nvidia. It’s a great deal for the big tech companies. The startups are also their customers, so much of that capital cycles back as revenue, a phenomenon some critics have dubbed “round-tripping.”A similar dynamic is beginning to occur between sovereign wealth funds in the Middle East and U.S. private investment... Read more ›
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Google is coming for OpenAI’s Sora—and the plethora of other young startups offering ways to create AI-generated video, ranging from Runway to Pika. On Tuesday at its annual developer conference Google I/O, the company announced Veo, which creates AI-generated videos from text, image and video prompts. Demis Hassabis, co-founder & CEO of Google DeepMind said Veo can capture the details of the instructions in different visual and cinematic styles, such... Read more ›
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Elon Musk’s 1-year-old artificial intelligence startup, xAI, has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years, according to a person who has been involved in the talks. The deal would make xAI one of Oracle’s largest customers as Musk tries to catch up quickly to rivals that have already spent billions of dollars on specialized servers needed... Read more ›
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OpenAI’s Google search killer may not yet be ready for prime time, and neither is the long-awaited GPT-5 large language model. But the ChatGPT developer on Monday may have still managed to steal some thunder ahead of Google’s annual conference for software developers, I/O, which starts later this morning.In a 26-minute demonstration, OpenAI COO Mira Murati showed off GPT-4o, a new model (the “o” stands for “omni”) that lets people... Read more ›
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The Middle East’s giant sovereign wealth funds have poured money into dozens of U.S. private tech funds with the expectation that some of those petro dollars will funnel back to the region’s startups. Now there are signs that venture capitalists and private equity funds are responding by scouting for investments in local startups. In recent months General Atlantic made an investment in Eyewa, an eyewear retailer similar to Warby Parker,... Read more ›
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Walmart is laying off hundreds of corporate staffers and ordering employees at tech hubs in Dallas, Atlanta and Toronto to relocate or lose their jobs, according to a person close to the company, as it grapples with slowing growth and prepares to open a massive new campus at its Bentonville, Ark. headquarters. Some tech employees in the company’s Dallas office were asked Monday to relocate to other Walmart offices or... Read more ›
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Here at The Information we’ve written a lot over the past six years about Apple’s struggles to make technological progress with its Siri voice assistant. So it must have been painful to the folks at Apple’s giant donut in Cupertino, Calif., to see OpenAI waltz right onto their turf earlier today and show the kind of artificial intelligence–powered assistant Siri should have been. As demos go, OpenAI’s showcase of its... Read more ›
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Ampla, a consumer startup-focused fintech that has loaned money to buzzy food and beverage brands like Carbone Fine Food pasta sauces and MrBeast-backed snack brand Feastables, is trying to find a buyer after failing to raise a fresh equity round, a person who has participated in deal talks said. The sale attempts highlight how a pullback in consumer spending has had ripple effects far beyond retailers and brands. Ampla, which... Read more ›
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Meta Platforms is exploring developing artificial intelligence–powered earphones with cameras, which the company hopes could be used to identify objects and translate foreign languages, according to three current employees. Meta’s work on a new AI device comes as several tech companies look to develop AI wearables, and after Meta added an AI assistant to its Ray-Ban smart glasses. Meta CEO Mark Zuckerberg has seen several possible designs for the device... Read more ›
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Later today, OpenAI is expected to unveil a bunch of new products. For a sneak peek at what could come, you can check out our story from Friday. But the timing of the event is interesting, given that tomorrow is Google’s largest annual developer conference, Google I/O, where that company is also expected to make a slew of AI-related announcements.We’ll have to wait to see what OpenAI and Google each... Read more ›
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Chinese authorities have a message for the local tech industry: Buy Chinese. Officials with government agencies in recent months have told tech firms, including TikTok parent ByteDance, Tencent, Alibaba and Baidu, to cut back on their purchase of foreign-made artificial intelligence chips in favor of buying more domestically made chips, said two people who work with the tech giants. Read more ›
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27.11.2024 05:32
Last update: 05:25 EDT.
News rating updated: 12:23.
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