OpenAI, the AI research company behind ChatGPT, has secured a staggering $40 billion in funding led by SoftBank, valuing the company at an unprecedented $300 billion, enabling it to accelerate AI research, expand compute infrastructure, and bolster its Stargate joint venture with Microsoft.
Elon Musk's xAI acquires X (formerly Twitter) for $33 billion in all-stock deal, marking an $11 billion loss from his original $44 billion purchase as he consolidates his AI and social media ventures into one platform.
In a blockbuster $113 billion deal, Elon Musk's AI firm xAI has acquired the social media giant X (formerly Twitter), valuing xAI at $80 billion and X at $33 billion, with Musk claiming the merger will 'unlock immense potential' by fusing AI with X's global reach.
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.
Nvidia's substantial $250 million order for CoreWeave's AI chip-powered computing services is expected to bolster the latter's $40 per share IPO bid, signaling a potential revival for the sluggish IPO market.
The iconic Napster music sharing service from the 90s has been revived, acquired for $207 million by Infinite Reality to create immersive virtual worlds where music fans can attend concerts and listening parties together, aiming to revolutionize the streaming experience with community-driven 3D spaces.
Nine EU nations are accelerating efforts to bolster Europe's semiconductor industry, aiming to unveil proposals by summer for a new funding program that addresses gaps in chip packaging and production, while boosting demand to attract company investments.
Browser Use, a tool that converts website elements into an AI-friendly format, has secured $17 million in seed funding to become a crucial layer enabling AI agents to interact with websites seamlessly, backed by Felicis Ventures, Paul Graham, A Capital, and Nexus Venture Partners.
In a surprising move, Microsoft declined a nearly $12 billion deal for data center capacity, allowing OpenAI to swiftly secure the contract, highlighting the intense competition and high stakes in the AI industry as CoreWeave's impending IPO is viewed as a bellwether for the sector.