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AI search startup Genspark raises $60 million in seed round to challenge Google
The funding is led by Singapore-based fund Lanchi Ventures and valued the startup, currently without revenue, at $260 million. Lanchi Ventures, formerly BlueRun Ventures China, rebranded last year to distance itself from its Silicon Valley origin BlueRun Ventures.
CoreWeave raises $2.3 billion in debt collateralized by Nvidia chips
COREWEAVE-FUNDING/CoreWeave raises $2.3 billion in debt collateralized by Nvidia chips
Elon Musk says xAI will examine universe, work with Twitter and Tesla
Elon Musk on Friday said the purpose of his new artificial intelligence company, xAI, will be to "understand the universe."
AI company Runway valued at $1.5 billion in latest funding
Runway's software allows users to transform or tweak existing videos or create new videos by using text prompts or images. The company also launched a mobile app earlier this year, giving its users access to its generative AI tools.
Top ex-Google AI researchers raise $8 million in funding from Thrive Capital
Thrive Capital had led the round in Essential AI, founded by Ashish Vaswani and Niki Parmar. The company is still in stealth mode and hasn't launched any product. Conviction and angel investor Elad Gil also participated in the round, one source close to the company added.
Elon Musk, experts urge pause on training AI systems more powerful than GPT-4
Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in training systems more powerful than OpenAI's newly launched model GPT-4, they said in an open letter, citing potential risks to society and humanity.
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Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out
Investors in SVB's stock fretted over whether the capital raise would be sufficient given the deteriorating fortunes of many technology startups that the bank serves. The company's stock collapsed to its lowest level since 2016, and after the market closed shares slid another 26% in extended trade.
AI startup Cohere in talks to raise funding at $6 billion plus valuation
Toronto-based Cohere, established by former researchers at Alphabet in 2019, has quickly risen through the AI startup ranks given their intensive research background and close ties to Google, investors said.
Deal partner for Trump's Truth Social fails to get backing for SPAC extension: report
Digital World needs 65% of its shareholders to vote in favor of the proposal to extend its life by 12 months for the move to become effective. By Monday evening, far fewer Digital World shareholders than those required had voted in favor, the sources said.
Sam Bankman-Fried's FTX says no talks to acquire Robinhood
"There are no active M&A conversations with Robinhood," Bankman-Fried said in an emailed statement."We are excited about Robinhood's business prospects and potential ways we could partner with them."
Why Twitter has ignored Elon Musk's 'trolling'
Twitter has not taken any legal action against Elon Musk over what it sees as his "trolling" of the deal, and plans to do so only if he does not carry out the tasks needed to complete the transaction, people familiar with the matter said
SoftBank-backed Fetch Rewards raises $240 million in funding round
The fresh capital, consisting of both equity and debt, came after the app doubled its active users base in the past year to 13 million, underpinned by pandemic-fueled e-commerce growth and consumers on a tigher budget in a high-inflation economy.
IBM to acquire software provider Turbonomic: Report
The transaction is IBM's 11th acquisition since Arvind Krishna became CEO last year
US tech companies use their expensive stock to pay for acquisitions
Close to half the US deals in the sector included a stock consideration last year, the highest percentage since 2016, versus only 27% in 2019, according to financial data provider Refinitiv.
Coupang surges to over $100 billion valuation after $4.6 billion IPO
Coupang share price soared 81% to open at $63.50 apiece on the NYSE. This after South Korea's largest e-commerce firm sold 130 million shares at $35 apiece in the biggest US IPO so far this year.
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