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The Chinese government is reviewing Meta Platforms’ $2 billion acquisition of AI startup Manus for potential violations of technology export control, the Financial Times reported on Wednesday, citing two people familiar with the matter. China’s Ministry of Commerce has begun assessing whether ...
OpenAI co-founder and former chief scientist Ilya Sutskever had $4 billion worth of vested equity in OpenAI in November 2023, according to text messages from chief operating officer Brad Lightcap that were made public Tuesday as part of Elon Musk’s lawsuit against OpenAI. Lightcap disclosed ...
Elon Musk in 2016 told fellow OpenAI founder Sam Altman that the AI lab, then one year old, should pursue a cloud computing deal with Microsoft rather than Amazon, according to emails released Tuesday as evidence in Elon Musk’s federal lawsuit against OpenAI. Musk explained that he preferred ...
Trade in stocks exposed to the AI boom is getting even more volatile. Shares of Sandisk rocketed 27% on Tuesday for no obvious reason other than a report by Morgan Stanley about bigger-than-expected price increases coming for NAND flash memory, which Sandisk makes, among others. Demand for NAND flash has taken off in recent months, thanks to its value in AI data centers. As we noted on New Year’s...
Happy 2026 and welcome back to Dealmaker! Private equity has long loved software companies, which generate gobs of steady cash flow from long-term customers. But that love affair has broken down because the firms eventually need to sell the companies they own, and right now almost no one wants to pay up for a traditional software maker. (Thoma Bravo–backed SailPoint was the only private equity–...
MSCI, a major index provider, said Tuesday that it decided to keep publicly-traded stocks whose primary activities are buying crypto in its global indexes “at this time.” The decision removes for now a potential threat to battered companies like Strategy. The decision was highly watched because ...
Katherine Lowry, who joined Insight Partners as a vice president in 2022, has filed a lawsuit in a California state court accusing her former employer of wrongful termination and gender discrimination. Lowry says her compensation was cut after taking medical leave from $750,000 to $500,000 in ...
XAI, Elon Musk’s AI lab, said Tuesday it had raised $20 billion from investors including Valor Equity Partners, Stepstone Group, and Fidelity, as well as Nvidia and Cisco. That’s more money than the initial $15 billion the company had targeted, at a $230 billion valuation. At that level, the ...
Hark, the AI lab that Figure AI CEO Brett Adcock recently founded, has hired over 30 engineers, including Head of Design Abidur Chowdhury, who previously designed phones and laptops for Apple, according to a copy of a memo Adcock sent to senior Figure employees and investors on Tuesday seen by ...
AI companies envision a future in which AI agents, rather than humans, become the primary users of websites such as commerce apps. The idea is that people may be more inclined to ask chatbots like ChatGPT or Gemini to buy a new pack of paper towels or book a hotel for them than to go to individual websites.While some website owners such as Amazon have resisted shopping-related agents, which could...