Search

Rivian, an electric vehicle startup, is gaining popularity among consumers who are looking for an alternative to Tesla and are willing to spend over $70,000 on a vehicle. Despite positive reviews and a passionate community of supporters, Rivian has faced challenges in the stock market, with its value dropping significantly since its initial public offering. However, a recent deal with Volkswagen Group, which provides Rivian with up to $5 billion, may help the company expand its market and compete with other automakers in the electric vehicle industry. While Rivian has faced some issues, such as allegations of a toxic work culture and safety violations, it has still managed to produce a significant number of vehicles and has plans for future models. [Extracted from the article]

OpenAI CEO Sam Altman is seeking approval from the US government for a venture to increase the global manufacturing of artificial intelligence (AI) chips. Altman has been meeting with potential investors and partners in the US, Middle East, and Asia, but he requires a green light from Washington to move forward. The plan aims to raise billions of dollars to expand semiconductor production and prevent a shortage that could hinder the deployment of AI. Altman has also considered addressing the supply of green energy for AI chip manufacturing. However, the venture may face national security and antitrust concerns, and Altman is working to collaborate with US officials on the timing and structure of the project. [Extracted from the article]

OpenAI CEO Sam Altman is seeking approval from the US government for a venture to increase global manufacturing of artificial intelligence (AI) chips. Altman has been meeting with potential investors and partners in the US, Middle East, and Asia, but he requires a green light from Washington to move forward. The plan aims to raise billions of dollars to expand semiconductor production and address concerns about a potential chip shortfall that could hinder AI deployment. Altman has also considered increasing the supply of green energy for AI chip manufacturing. However, the venture may face national security and antitrust reviews, as well as scrutiny from the Committee on Foreign Investment in the United States. [Extracted from the article]

The article discusses the response of the regulators to the fall of Silicon Bank Valley (SBV) in March 2023. Topics include investigations opened by the Department of Justice and the Securities and Exchange Commission on the collapse, possible reason that U.S. President Joe Biden has been reluctant to consider bailout, and the step taken by federal authorities to guarantee all deposits at SVB and open a broader emergency lending program.

Thrive Capital is in discussions to invest approximately $1 billion in Databricks, a software company, which would value the startup at around $55 billion. This potential deal involves a share sale, allowing early investors and employees to sell stakes to new investors. Databricks, a competitor of Snowflake Inc., has raised over $4 billion in total and has the option to delay an initial public offering due to its success in private markets. [Extracted from the article]

11x, an artificial intelligence-powered sales startup, has secured $50 million in funding led by Andreessen Horowitz and Hubspot Ventures, valuing the company at $320 million. Founded in 2022, 11x develops AI bots like Alice and Jordan to assist salespeople with tasks such as generating leads and handling customer calls in multiple languages. Despite competition in the AI sales tools market, 11x has shown promise with $10.5 million in annual recurring revenue and clients like Brex, Handshake, and Airwallex. [Extracted from the article]

The article from Bloomberg.com reports that AI startup 11x has secured $50 million in funding led by Andreessen Horowitz, with participation from Hubspot Ventures, valuing the company at $320 million. Founded in 2022, 11x develops AI bots like Alice and Jordan to assist salespeople with tasks such as generating leads and handling customer calls in multiple languages. Despite competition in the AI sales tools market, 11x has shown momentum with $10.5 million in annual recurring revenue and notable clients like Brex and Handshake. CEO Hasan Sukkar relocated from London to San Francisco to capitalize on the city's AI growth and market opportunities. [Extracted from the article]

11x, an artificial intelligence-powered sales startup, has secured $50 million in funding led by Andreessen Horowitz, with Hubspot Ventures also participating. The company, founded in 2022, offers AI bots like Alice and Jordan to assist salespeople with tasks such as generating leads and handling customer calls in multiple languages. Despite competition in the AI sales tools market, 11x has shown promise with $10.5 million in annual recurring revenue and notable clients like Brex and Handshake. The company's innovative approach to sales automation has garnered attention and support from investors. [Extracted from the article]

Vuori, an activewear brand, is allowing early investors and employees to sell shares in a tender offer that values the company at $5.5 billion. The investors leading the tender are General Atlantic and Stripes, with Vuori competing with companies like Nike and Lululemon. This deal marks a significant increase from Vuori's $4 billion valuation in 2021 and solidifies its position in the American clothing market. [Extracted from the article]

Rivian Automotive Inc. remains committed to achieving a positive gross profit in the final quarter of the year, despite facing production disruptions that led to losses. The company expects a significant increase in regulatory credit sales to reach this goal, following a part shortage that halted production at its EV assembly plant. Rivian's challenges highlight the impact of supply chain disruptions on its financial performance, as it works towards launching a more affordable electric SUV in 2026. [Extracted from the article]

Rivian Automotive Inc. remains committed to achieving a positive gross profit in the final quarter of the year, despite facing supply-chain disruptions that affected electric-vehicle production. The company attributes its ability to meet this goal to a higher mix of premium models and sales of regulatory credits. While Rivian's adjusted loss in the third quarter was worse than expected, the company's shares rose in after-hours trading. Rivian's challenges with production have led to a reduction in its full-year production target, but it aims to deliver up to 52,000 vehicles this year. [Extracted from the article]

Vuori, an activewear brand, is allowing early investors and employees to sell shares in a tender offer that values the company at $5.5 billion. The investors leading the tender are General Atlantic and Stripes, with Vuori competing with other athletic clothing companies like Nike and Lululemon. This deal marks a significant increase from Vuori's $4 billion valuation in 2021, establishing it as a major player in the American clothing industry. [Extracted from the article]

Rivian Automotive Inc. remains committed to achieving a positive gross profit in the final quarter of the year, despite facing supply chain disruptions that affected electric vehicle production. The company attributes its ability to meet profit goals to a higher mix of premium models and sales of regulatory credits. While a key part shortage impacted production, Rivian expects limited financial impact and has adjusted its earnings forecast for 2024. The company has faced challenges throughout the year but is focused on cost-cutting measures ahead of launching a more affordable electric SUV in 2026. [Extracted from the article]

Saudi Arabia is planning to establish a $100 billion artificial intelligence project, known as "Project Transcendence," to create a technological hub to rival the UAE. The initiative will focus on investing in data centers, startups, and infrastructure, as well as recruiting new talent and encouraging tech companies to invest in the kingdom. This project is part of Saudi Arabia's Vision 2030 strategy to diversify its economy away from fossil fuels and become a global leader in AI development. The kingdom aims to bridge the gap with the US and China in AI expertise and establish itself as a top 15 country in AI by 2030. [Extracted from the article]

Billionaire venture capitalist Reid Hoffman expressed concerns about the impact of political division in Silicon Valley during the 2024 election cycle, noting that it has affected business relationships. Hoffman highlighted how support for Trump in liberal Silicon Valley has increased, leading to tensions among tech industry figures. He also discussed potential policy changes under a Harris administration and the need for businesses to prepare for uncertainty in the event of a Trump victory. [Extracted from the article]

Waymo, Alphabet Inc.'s autonomous driving unit, has been valued at over $45 billion after a recent round of financing. The company is expanding its self-driving vehicle services in cities like San Francisco and Phoenix, offering over 150,000 paid trips per week. Waymo faces competition from companies like Uber and Tesla, but has secured funding from investors like Andreessen Horowitz and Fidelity to continue its growth in the autonomous driving industry. [Extracted from the article]

Waymo, Alphabet Inc.'s autonomous driving unit, has been valued at over $45 billion after a recent round of financing led by Alphabet. The company raised $5.6 billion in new capital and is rapidly expanding its ride-hailing services in cities like San Francisco and Phoenix. Waymo is part of Alphabet's "Other Bets" portfolio and has existing investors such as Andreessen Horowitz, Fidelity, and T. Rowe Price. [Extracted from the article]

Beta Technologies Inc., an electric aerospace startup, secured $318 million in funding from investors, led by the Qatar Investment Authority. The company, based in South Burlington, Vermont, is focused on producing aircraft capable of vertical takeoff and landing. Unlike other startups in the field, Beta is not pursuing an airtaxi service but aims to sell its aircraft to carriers in logistics, transportation, and the military. The investment brings Beta's total capital raised to over $1 billion, with plans to commercialize both vertical and conventional electric aircraft. [Extracted from the article]

OpenAI is collaborating with Broadcom Inc. to develop a specialized artificial intelligence chip for running AI models post-training. The companies are also engaging with Taiwan Semiconductor Manufacturing Co. for this project. OpenAI is focusing on creating a chip for inference, rather than training, to meet the increasing demand for AI capabilities in various industries. Additionally, OpenAI is exploring partnerships and investments in data centers to support the deployment of these AI chips. [Extracted from the article]

OpenAI is collaborating with Broadcom Inc. to develop a specialized artificial intelligence chip focused on running AI models after training. The companies are also consulting with Taiwan Semiconductor Manufacturing Co. for this project. OpenAI is moving away from graphics processing units and focusing on inference chips to meet the growing demand for AI support in complex tasks. Additionally, OpenAI is exploring partnerships for custom chips and investments in data centers to support their AI services. [Extracted from the article]

Elon Musk's artificial intelligence startup xAI is in talks to secure new funding at a valuation of around $40 billion, a significant increase from its previous valuation of $24 billion. The company aims to double its access to computing resources to enhance its AI capabilities. Musk's xAI is positioning itself to compete with OpenAI, the current AI leader valued at $157 billion, as Musk has criticized its approach to AI development. [Extracted from the article]

OpenAI's Chief Financial Officer, Sarah Friar, revealed that 75% of the company's revenue comes from paying consumers, with their chatbot ChatGPT having 250 million weekly active users. While OpenAI is also targeting corporate customers, their consumer business is thriving, with a 5-6% conversion rate of free users to paid subscriptions. The company recently closed a $6.6 billion fundraising round and is focused on developing advanced AI systems while advocating for investing in the physical infrastructure needed to power AI. [Extracted from the article]

Waymo, Alphabet Inc.'s autonomous driving unit, recently secured $5.6 billion in funding from investors, with Alphabet leading the investment round. The company operates a commercial ridehailing platform in several US cities and has partnered with Uber Technologies Inc. for expansion. Waymo's fleet of self-driving cars has provided over 100,000 rides per week, accumulating more than 25 million miles without a human driver. The funding is seen as a strategic move by Alphabet to mitigate risks in the competitive autonomous driving industry, with Waymo potentially heading towards a public listing in the future. [Extracted from the article]

Waymo, Alphabet Inc.'s autonomous driving unit, recently secured $5.6 billion in funding from investors, marking its largest funding round to date. The investment was led by Alphabet, with participation from firms like Andreessen Horowitz, Fidelity Investments, and T. Rowe Price Group. Waymo operates a commercial ridehailing service in several US cities and has partnered with Uber Technologies Inc. to expand its services. Alphabet's shares saw a 1.6% increase following the announcement of the funding round. [Extracted from the article]

Elon Musk expressed his desire to advocate for streamlined regulations on fully autonomous vehicles if he were to have a role in the US government. He called for national rules to permit self-driving cars without traditional driver controls, citing current policies as obstacles. While not mentioning Donald Trump directly, Musk's potential involvement in a "Department of Government Efficiency" was linked to the Republican candidate's campaign. Musk also discussed Tesla's plans to launch a self-driving ride-hailing service in Texas and California next year, which impacted the stock prices of Uber and Lyft. [Extracted from the article]

Wayve Technologies Ltd., a UK startup backed by SoftBank Group, has begun testing its AI-driven driver-assistance system in San Francisco and the Bay area. The company aims to develop AI software that allows cars to navigate roads without pre-programmed rules or digital maps. Wayve plans to hire 140 people and will conduct tests with safety drivers behind the wheel of 20 cars in the Bay area. San Francisco's unique driving conditions are seen as beneficial for developing AI platforms for automotive customers. [Extracted from the article]

Qualcomm CEO Cristiano Amon predicts that AI smartphones will become ubiquitous within the next five years, as the company unveils new Snapdragon processors capable of handling artificial intelligence on the device itself. Qualcomm's new chips offer faster speeds and improved energy efficiency, positioning the company as a leader in the mobile device processor market. Amon also highlighted Qualcomm's expansion into automotive, computing, and industrial sectors, emphasizing the company's competitive roadmap for the future. [Extracted from the article]

SEC Chair Gary Gensler has raised concerns about the potential risks posed by the $13 trillion eurodollar market, highlighting its role in past economic downturns. He also emphasized the need for global regulatory collaboration to address the use of artificial intelligence in finance. Additionally, Gensler discussed the SEC's monitoring of the growing private credit sector, noting both its benefits and potential risks, especially in relation to retail investors. [Extracted from the article]

Tesla Inc. responded to criticism over its robots relying on remote human operators with a video showcasing the progress of its prototypes moving autonomously. The video, approved by CEO Elon Musk, features the robot Optimus navigating a factory floor, carrying batteries, and interacting with employees. Despite initial skepticism, Tesla emphasized the use of artificial intelligence to train Optimus to interact with people independently. The company's demonstration aimed to address concerns raised after employees oversaw interactions between the robots and attendees at a recent event. [Extracted from the article]

Omead Afshar, a close confidante of Elon Musk, has been promoted to oversee Tesla Inc.'s operations in North America and Europe. Afshar, who previously worked in the "Office of the CEO," is now a vice president responsible for manufacturing and sales. Musk has also promoted other executives to key roles in self-driving technology and Tesla's humanoid robot project, Optimus. These changes were made prior to Tesla's unveiling of the Cybercab. Musk has a history of moving executives between his companies, and Tesla currently has three named executive officers. [Extracted from the article]

Amazon Web Services, the leading cloud-computing provider, announced that new systems utilizing Nvidia's Blackwell chips will not be available until early 2025, due to production delays. Nvidia had initially planned for partners like Amazon to have Blackwell-based products by the end of 2024, but a production change caused a delay. Despite the setback, Nvidia expects significant revenue from the processor in the fourth quarter. Data center operators eagerly await the new chip, which is crucial for developing AI software and services. [Extracted from the article]

Tesla Inc. responded to criticism over its robots relying on remote human operators with a video showcasing the progress of its prototypes moving autonomously. The video, approved by CEO Elon Musk, features the Optimus robot navigating a factory floor, carrying batteries, and interacting with employees. This comes after reports of human assistance at a recent event, prompting clarification from Tesla on the capabilities of its robots, including using artificial intelligence for autonomous interactions. The company aims to demonstrate the advancements in its technology through these videos. [Extracted from the article]

Omead Afshar, a close confidante of Elon Musk, has been promoted to oversee Tesla Inc.'s operations in North America and Europe. Afshar, who previously worked in the "Office of the CEO," is now a vice president responsible for manufacturing and sales. Musk has also promoted other executives to key roles within Tesla, including overseeing self-driving technology and the development of Tesla's humanoid robot, Optimus. These changes were made prior to Tesla's recent unveiling of the Cybercab. [Extracted from the article]

Omead Afshar, a close confidante of Elon Musk, has been promoted to oversee Tesla Inc.'s operations in North America and Europe. Afshar, who previously worked in the "Office of the CEO," is now a vice president responsible for manufacturing and sales, with direct reports including Troy Jones and Jason Shawhan. Musk has a history of moving executives between his companies, and Tesla currently has three named executive officers. [Extracted from the article]

Google is investing in nuclear power to support its goal of achieving around-the-clock clean energy for its operations, particularly for artificial intelligence facilities. The company has announced its first investment in nuclear power by backing the development of advanced small modular reactors from Kairos Power, with a combined capacity of 500 megawatts. Google believes that nuclear technology is crucial for achieving carbon-free energy 24 hours a day, in addition to wind and solar power. Other tech companies, such as Microsoft and Amazon, are also investing in clean power sources like nuclear to support their data centers and operations. [Extracted from the article]

Tesla used human operators to remotely control some functions of its Optimus robot prototypes at a recent event, according to anonymous sources. The robots were able to walk without external control using artificial intelligence, but humans oversaw many of the interactions between the robots and attendees. Some attendees noted on social media that the robots had human assistance, which was not mentioned by CEO Elon Musk during his remarks. The use of human input raises questions about the capabilities and market readiness of the robots, which Musk has touted as a revolutionary product. [Extracted from the article]

Tesla used human operators to remotely control some functions of its Optimus robot prototypes at a recent event, according to anonymous sources. While the robots were able to walk without external control using artificial intelligence, employees stationed elsewhere oversaw many of the interactions between the robots and attendees. Some attendees noted on social media that the robots had human assistance, which was not mentioned by CEO Elon Musk during his remarks. The use of human input raises questions about the capabilities and market readiness of the robots, which Musk has touted as potentially being "the biggest product ever of any kind." [Extracted from the article]

Tesla's stock price fell after Elon Musk unveiled the company's self-driving taxi at an event that lacked specific details. Musk showcased prototypes of the Cybercab, a two-door sedan, as well as a van concept and an updated version of Tesla's humanoid robot. However, the presentation did not address how Tesla plans to transition from selling driver-assistance features to fully autonomous vehicles, and it lacked technical information and discussion of regulation. The underwhelming event caused Tesla's shares to drop by as much as 10%, while ride-hailing companies Uber and Lyft saw their stocks surge. [Extracted from the article]

Tesla's stock price fell after Elon Musk unveiled the company's self-driving taxi at an event that lacked specific details. Musk showcased prototypes of the Cybercab, a two-door sedan, as well as a van concept and an updated version of Tesla's humanoid robot. However, the presentation did not address how Tesla plans to transition from selling driver-assistance features to fully autonomous vehicles, and it lacked technical information and discussion of regulation. The underwhelming event caused Tesla's shares to drop by as much as 10%, while ride-hailing companies Uber and Lyft saw their stocks surge. [Extracted from the article]

Elon Musk unveiled Tesla's self-driving taxi, the Cybercab, at an event that left investors with questions about how the company plans to achieve its goals. Musk showcased prototypes of the Cybercab, a van concept, and an updated version of Tesla's humanoid robot. The robotaxi, which is expected to cost less than $30,000, may go into production in 2026. However, the presentation lacked technical details and did not address topics such as regulation or Tesla's ownership of the fleet. The underwhelming event caused Tesla's shares to drop 9.3%, erasing $69 billion of market value. Tesla has a history of missing timelines for future products, including self-driving vehicles. The company has been selling features marketed as Full Self-Driving, but they still require supervision and do not make the vehicles autonomous. Musk stated that Model 3 and Model Y owners in Texas and California may no longer need to supervise these features sometime next year. The event also revealed a Robovan concept and new versions of the humanoid robot. However, investors found the event lacking in real numbers and timelines. The Cybercab's design was changed, resulting in a two-month delay for the event. The Cybercab features butterfly wing doors and does not have a steering wheel or pedals. Musk stated that consumers will be able to buy the Cybercab, but did not provide a specific release date. US presidential candidate Donald Trump expressed skepticism about autonomous vehicles, which could pose regulatory challenges for Tesla's [Extracted from the article]

Elon Musk unveiled prototypes of the Tesla Cybercab, a robotaxi that could cost less than $30,000 and potentially go into production in 2026. Musk also showcased a concept for a Robovan that could transport 20 people and updated versions of Tesla's humanoid robot called Optimus. However, the event did not address how Tesla plans to transition from selling driver-assistance features to fully autonomous vehicles, and lacked technical details and discussions on regulation or ownership of the Cybercab fleet. Tesla has a history of missing timelines for future products, including self-driving predictions. [Extracted from the article]

Elon Musk unveiled Tesla's self-driving taxi, the Cybercab, at an event that left investors with questions about how the company plans to achieve its goals. Musk showcased prototypes of the Cybercab, a van concept, and an updated version of Tesla's humanoid robot. The robotaxi, which is expected to cost less than $30,000, may go into production in 2026. However, the event lacked technical details and did not address how Tesla will transition to fully autonomous vehicles or whether the company will operate its own fleet of Cybercabs. Tesla's shares dropped 5.9% following the underwhelming event. [Extracted from the article]