Newsroom
California Governor Vetoes Bill That Attempted To Regulate AI
SB 1047 is a bill that was initiated by senator Scott Wiener of California. The idea behind the bill was to make AI companies be responsible for developing safe AI products, to make them implement systems and guardrails for the development of safe AI that would not pose harm to the public. It was me...
Fidelity Says X Now Worth Almost 80% Less Than Original $44B Value
Fidelity was an investor in Elon Musk’s purchase of X (formerly twitter) for $44 Billion. It invested $19.7 million then. However, based on recent filings, Fidelity now values its investment in X at about $4 million, representing a drop in value of almost 79%. The investment was made by its Bl...
Sam Altman Exits OpenAI's Committee For Safety and Security
OpenAI reported in a blog post that its CEO Sam Altman will no longer be a part of its internal committee that oversees the safety and security of products that OpenAI creates and releases. The report went further to say that the Safety and Security committee will become an independent entity and wi...
Bluesky Hits 10 Million Users
We previously reported on Bluesky’s rapid surge in new registrations recently. However the company has announced even further growth. The company announced Monday on X (twitter) that it now has more than 10 million users. This rapid growth came after Brazil’s supreme court banned X from ...
IBM Acquires FinOps Startup, Kubecost
FinOps is a blend of two words, finance and DevOps and it seeks to address the collaboration and accountability between cloud computing costs and operations in organizations. Some companies spend wastefully on their cloud infrastructures while others don’t spend enough. A recent survey reporte...
Berlin-Based Quick Commerce Flink, Raises $150 Million
Quick commerce is an ecommerce concept whereby the ecommerce company places warehouses & distribution centers at very strategic locations which are very close to target shoppers, such that orders can be delivered to the buyer in a relatively short time, usually minutes or less than an hour.
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AI Startup, Safe Superintelligence, Raises $1 Billion
New AI startup recently co-founded by ex-OpenAI executive, Ilya Sutskever, has raised $1 billion in fresh capital at a $5 billion valuation. Investors included A16z, SV Angel, DST Global, Nat Friedman, amongst others. Safe Superintelligence (SSI) plans to use the funds to staff up, and acquire compu...
Bluesky Sees Surge In New Users
Bluesky, Brazilian-based social media company reported that millions of new users recently signed up on its platform. The rapid surge in users comes shortly after a Brazilian court banned X (twitter) in Brazil. Following the ban, Bluesky reported a 50% growth in new signups within a week. It now ran...
Salesforce Acquires Own For $1.9 Billion
Salesforce announced it has acquired Own, a data management company for $1.9 billion, all cash. Own provides data protection and loss prevention services and products. Salesforce believes the purchase will complement its vast user base and provide a comprehensive solution to the massive user data it...
Car Rental Company, Avis, Suffers Massive Data Breach
Avis, the car rental giant reported it was the victim of a cyberattack, affecting hundreds of thousands of its users. The company recently told its customers that unauthorized intruders had penetrated parts of its business, and sensitive customer data such as names, date of birth, mailing addresses,...
Magic, An AI Coding Startup Raises $320 Million
San Francisco-based startup, Magic, recently reported it has raised $320 million in new funding. Investors in the round included CapitalG (from Alphabet), Jane Street, Sequoia capital, Atlassian, and ex-Google CEO, Eric Schmidt amongst others. The company was initially looking to raise $200 million....
Apple Lays Off Again
Apple is reportedly cutting 100 jobs in many of its divisions, primarily, in its Books, News, and other services departments. Apple Books’ performance hasn’t been quite as expected, and the company is reassessing its investments in the business unit, amongst others.
Apple Books was i...
Uber Plans Further Expansion In South Korea
Ride-share giant, Uber, is reportedly planning to further expand in the South Korean market after a recent growth in performance and consumer demand in the country. At present, South Korea’s leader in ride-sharing is Kakao Mobility, with almost 98% market share. Kakao Mobility has almost 23 mi...
OpenAI Seeks $100B Valuation
OpenAI is reportedly in talks with investors to raise new funding, at a new valuation of around $100 Billion. New investors in the round include Nvidia and Apple. Microsoft, which is already an investor and a 49% owner in the company may be investing further, it is reported. OpenAI seeks to expand i...
Autry Stephens, Richest Man In Oil & Gas, Dies
Autry Stephens, the richest man in the petroleum industry and founder of Endeavor Energy Resources has died. He was 86 years old. He died from cancer. He recently (February of this year) agreed to sell his company to Diamondback Energy for $26 billion after becoming aware of his cancer diagnosis.
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