Elonâs Musk xAI is close to having billions of dollars more in its coffers to make its chatbot Grok a more fearsome competitor to OpenAIâs ChatGPT. Muskâs year-old startup is raising $6 billion at a valuation of $18 billion not including the investment, according to two people close to the deal. Sequoia Capital is one of the investors participating in the xAI round, according to one of the people, and... Read more âș
27
If you werenât careful, you may have missed some important news from Apple that was overshadowed by Meta Platformsâ earnings yesterday. The iPhone-maker released a new family of open-source language models, dubbed OpenELM, on Hugging Face. The models, ranging in size from 270 million to 3 billion parameters (as a reminder, âparametersâ refers to the âsettingsâ that determine how AI models respond to questions) are significantly smaller than open-source releases... Read more âș
0
Huawei Technologies is leading a group of Chinese semiconductor companies seeking memory chip breakthroughs that could help China develop home-grown alternatives to Nvidiaâs cutting-edge artificial intelligence chips, which canât be sold to the country. The Huawei-led consortium, backed by funding from the Chinese government, aims to produce high-bandwidth memory chipsâa crucial component in advanced graphic processing unitsâby 2026, according to two people close to the company. Read more âș
30
ByteDance is internally exploring scenarios for selling a majority stake in TikTokâs U.S. business, preferably to companies outside the tech industry, and without the algorithm that recommends videos to TikTok users, said three people with knowledge of the deliberations. ByteDanceâs internal discussions come as President Joe Biden on Wednesday signed into law a requirement that TikTok cut its ties with ByteDance within nine to 12 months or face a U.S.... Read more âș
36
Next-generation battery developer SES AI pushed further ahead in the race to commercialize lithium-metal anodes, moving to the B Sample qualification stage with South Koreaâs Hyundai Motor. The automaker has not committed to deploying the anodes in its electric vehicles, but the deal sets SES on the path of putting its anodes in Hyundai test vehicles as soon as next year, said SES CEO Qichao Hu. Read more âș
0
Meta Platforms may have just got kicked off Wall Streetâs favorites list. Stock of the Facebook owner dropped 16% after CEO Mark Zuckerberg warned the company was entering a new investment cycle, this time in artificial intelligence, that would take a while to flow through to create âprofitable services.â Zuckerbergâs comments hit a nerve: Investors have increasingly fretted about how AI developers will generate a return from their investments. But... Read more âș
1
Meta Platformsâ warning of slowing growth and higher expenses Wednesday night sank the stock, which had run up 43% this year. But Meta executives, not surprisingly, focused on the bright spots âamong them, video. Instagram ReelsâMetaâs answer to TikTokânow makes up 50% of the time spent on the app, a pretty big number when you think about the featureâs somewhat patchy beginnings as a forum for day-old TikTok videos. The... Read more âș
0
During the artificial intelligence boom, chipmaker Nvidia became one of the most active corporate venture capitalists, investing in over 30 startups last year alone, according to PitchBook. Now it may become one of the most active acquirers of AI startups. Nvidia has recently struck two agreements to buy Israeli AI startups, including one of Run:ai, announced Wednesday, and another of Deci, yet to be announced, according to a person involved... Read more âș
75
The next big test of the big IPO market for software firms comes later on Wednesday, when data security firm Rubrik is expected to price its initial public offering. On the surface, the company would be an unlikely IPO success right now. It is small and its business very niche, and it is losing money, which might turn off investors. To get Wall Street to dream bigger, Rubrik CEO Bipul... Read more âș
2
The promise of a chatbot that can write and fix code has attracted repeat investments in a six-month-old startupâeven after it appeared to flub its product launch. Founders Fund has led a $175 million investment in Cognition, a startup that recently launched an artificial intelligenceâpowered coding assistant called Devin, according to an investor who reviewed terms of the deal. The venture firm valued the startup at $2 billion, including the... Read more âș
147
Itâs been five days since the release of Meta Platformsâ highly-anticipated Llama 3 models, and the new large language models have seemingly won the mindshare of AI developersâso much so that barely anyone was talking about new model releases from Microsoft, Adobe and Amazon on Monday.A number of developers told me that theyâre already experimenting with the two smaller Llama 3 models Meta released and, after getting great results, are... Read more âș
0
As companies lose faith in the effectiveness of cybersecurity software and reexamine or rein in their spending on it, startups that sell that type of software have struggled to grow. Many of them will have little choice but to look for a buyout, some of their shareholders say, despite having raised record amounts of capital during the pandemic-fueled startup boom. In the latest example, The Information reported on Thursday that... Read more âș
0
The political debate about TikTok is all but over, with the sell-or-ban bill now virtually assured of becoming law, judging by its progress in the Senate today. Once the formalities are over, weâll see TikTok or its users file a legal challenge, which could delay implementation. Even so, the final passage of this legislation is momentous. The warnings about TikTok have circulated for so longâMeta CEO Mark Zuckerberg warned of... Read more âș
0
Most venture capitalists often see themselves as long-term investors. Those who backed ByteDance, the worldâs most valuable venture-backed company, have had plenty of opportunity to test that credo. After pouring $8 billion into TikTokâs parent company, and sometimes buying more shares from other shareholders, these investors have seen the chances of a much anticipated public offering fade as the viral video app has become a political hot potato. Legislation that... Read more âș
0
Since Threadsâ launch last summer, creators have grumbled to me about the lack of money-making opportunities or clear reasons for them to spend time posting on Instagramâs text-focused sister app. Threads is now trying one obvious route: paying them (a little) to post. Instagram invited some creators this month to join a challenge focused on posting content related to âpositivity,â for a chance to win up to $500, according to... Read more âș
0
Amazon must have quite the investment portfolio by now. Thanks to its status as a giant tech conglomerate, Amazon often gets a chance to buy equity in its suppliers at a deep discount. Over the years, it has accumulated interests in companies providing everything from autonomous vehicle technology to air freight, according to public company filings. For private suppliers, the details of these deals can remain secretâuntil they go public.... Read more âș
0
With layoffs, shake-ups, and surprising stars, the tech initial public offering market has been volatile lately as it rebounds from a particularly dry period. But will that rebound continue? And whenâs the best time for companies to go public? As part of the Private Capital Conference, Jessica Lessin, CEO and founder of The Information, explored smart IPO strategies for todayâs market with two experts: Michael Harris, global head of capital... Read more âș
0
If youâre anything like me, you may have found your jaw dropping at our scoop this morning that Skild, a young startup building an AI-powered brain for robots, is raising nearly $300 million from Lightspeed Venture Partners, Coatue Management and other investors at a whopping $1.5 billion valuation despite the fact that it has yet to generate any revenue.Perhaps even more surprising is the fact that Skild isnât alone. Thereâs... Read more âș
0
Venture investors are paying a hefty premium to back robotics startups harnessing artificial intelligence, hoping one of them can become the robotics version of OpenAI. In the latest example, Skild, a young firm that has been developing software to power various robots including ones with two or four legs, is nearing a deal to raise nearly $300 million from Lightspeed Venture Partners, Coatue Management and others at a $1.5 billion... Read more âș
0
As logistics company Flexport looks to turn itself around after messy executive drama and a broader freight market slump last year, itâs leaning on an increasingly important customer: China-founded fast-fashion giant Shein. As of March, Flexport was arranging two Boeing 747Â flights each week filled with goods sold by Sheinâknown for its $3 crop tops and $10 dressesâand headed for its U.S. buyers, according to a person who worked at... Read more âș
0
Most popular sources
Business Insider
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24% 7 |
The Verge
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9% 3 |
Tech Wire Asia
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8% 1 |
Android Authority
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8% 5 |
Tom's Hardware
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7% 5 |
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27.11.2024 11:56
Last update: 11:51 EDT.
News rating updated: 18:51.
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