Safe Superintelligence, founded by former OpenAI chief scientist Ilya Sutskever, secures $2 billion funding at a $32 billion valuation despite having no public product, with major investors including Andreessen Horowitz, Alphabet, and Nvidia backing the 20-employee startup developing AI models on Google's TPUs.
Despite a surge in AI spending, with 67% of organizations planning to maintain or increase investments, a mere 21% report proven outcomes, highlighting a concerning lack of clear roadmaps and measurable goals, as 64% of companies admit, compounded by looming governance, ethics, and risk challenges anticipated by 43% in the …
Fintech founder Albert Saniger faces fraud charges for deceiving investors by falsely claiming his shopping app Nate used AI automation, when it relied on human labor, leading to over $50 million in losses for backers like Coatue and Forerunner Ventures.
SoftBank Group plans to invest up to $40 billion in OpenAI, with $10 billion upfront and up to $30 billion more by 2026, to support OpenAI's quest for Artificial General Intelligence and ultimately Artificial Super Intelligence for the advancement of humanity.
CoreWeave, an AI computing solutions provider, adjusted its IPO pricing amid market volatility, raising $1.5 billion at a $19 billion valuation by pricing shares at $40, below the expected $47-$55 range, to align with buyer interest amidst macroeconomic challenges.
CoreWeave, a tech company initially eyeing a $30 billion IPO valuation, has scaled back its ambitions, now targeting a valuation closer to its $23 billion private market level and slashing its planned fundraising by half to $1.5 billion.
A judge expressed concerns about potential harm from OpenAI's transition to a for-profit company using public funds, denying an injunction but offering an expedited trial in 2025 to resolve disputes over the restructuring targeted by Elon Musk's lawsuit.
In a legal battle against OpenAI, a judge rejects Elon Musk's bid to stop the AI research company's transition to a for-profit model, allowing the transformation to proceed while other aspects of Musk's lawsuit move forward.
Amazon-backed AI startup Anthropic skyrocketed to a staggering $61.5 billion valuation after securing a $3.5 billion mega funding round led by Lightspeed Venture Partners, fueling its ambitious plans to expand compute power, advance AI research, and accelerate global expansion.
Nvidia's CEO Jensen Huang revealed that the company's revenue in China was slashed in half due to export controls, shedding light on the significant impact of trade restrictions on the tech giant's business operations in the Chinese market.