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Talk about stepping on your own news. Tesla put out an unusual statement on Tuesday, detailing the number of cars that 20 Wall Street analysts expect the electric vehicle maker will deliver annually through 2029. Tesla said it “does not endorse” any of the information, mind you, which raises the question why it bothered to publish the summary. We can guess why: Tesla doesn’t want anyone to be...
Welcome back! Nvidia’s Christmas Eve deal for Groq made for a happy holiday for the AI chip startup’s investors and employees, who were paid out at a very festive $20 billion valuation. That hasn’t always been the case for license-and-hire deals, where a buyer takes a startup’s technology and most of its staff, and leaves a stub of the company, and some of its employees, behind. Nvidia licensed...
Tesla has shared a consensus it compiled of analyst predictions for how many vehicles it will deliver this quarter, an unusual move for the electric automaker. Notably, the consensus implies analysts expect a 15% year over year drop in the number of vehicles Tesla will deliver in the fourth ...
Elon Musk’s xAI has bought a building for a third supersized data center it’s planning outside Memphis, Tennessee, in pursuit of the company’s goal of getting 1 million chips online to power its artificial intelligence models, according to property records and a person with direct knowledge of the project.
The expansion plan shows xAI is doubling down on its strategy of building, running and...
Wall Street’s latest push into private markets may give individual investors and their 401(k) accounts access to shares of unicorns like SpaceX and OpenAI. It may also allow them to add billions of additional dollars to the liquidity trap currently plaguing more sophisticated investors.
Private markets have suffered from illiquidity, not lack of capital. Money goes in but rarely comes out. There...
Citigroup will lose $1.1 billion on the sale of its remaining operations in Russia, the bank said in a securities filing Monday. The U.S. bank is selling its business to Renaissance Capital, one of Russia’s oldest investment banks. Citi said it plans to complete the divestment in the first half ...
Meta Platform’s announcement on Monday that it has acquired Chinese agent startup Manus represents a big win for Manus’ backers, including Benchmark, ZhenFund and HongShan, who last invested in Manus in an April funding round that valued it at $500 million. Meta is paying more than $2 billion, my colleague Juro Osawa has reported (as have other outlets).That’s a huge gain on an eight month old...
Meta Platforms’ deal to acquire the Singapore-based startup behind Manus, a popular AI agent, values it at more than $2 billion, according to a person with direct knowledge of the deal. This gives the startup’s venture capital backers an exit with handsome returns less than a year after the ...
As AI has completely consumed the tech industry, Apple has held back from the colossal investments in the technology its peers have been making. Wall Street, pundits and media outlets have criticized and chronicled Apple’s stumbles and seeming lack of urgency in the AI arms race. That includes us.
But I would like to propose another possibility: that 2026 could vindicate Apple’s decision to stay...
The dealmakers of the AI sector didn’t take a break this holiday season. Meta revealed this afternoon it had bought Manus, the Singapore-based developer of AI agents. The price wasn’t disclosed but seeing as Manus’ last fundraising valuation was $500 million, Meta might have spent $2 billion or so but not hugely more than that. (More on Manus here and here). SoftBank, meanwhile, today unveiled a...