Startups & Business Archives - Page 2 of 2

US Pressures EU to Clarify Big Tech Regulations

23Feb No Comments

Startups & Business

US Pressures EU to Clarify Big Tech Regulations

U.S. House Judiciary Chair Jim Jordan has called on EU antitrust chief Teresa Ribera to clarify the enforcement of the EU's Digital Markets Act (DMA) and Digital Services Act, alleging these regulations unfairly target American tech giants. This request follows President Trump's memorandum expressing intent to scrutinize EU rules affecting U.S. companies. The DMA imposes strict operational guidelines on major tech firms, including Alphabet, Amazon, Apple, ByteDance, Meta Platforms, and Microsoft, with substantial fines for non-compliance. Jordan, supported by Scott Fitzgerald, criticized these measures as a "European tax" on American businesses, potentially benefiting adversarial nations like China. They have requested Ribera to brief the judiciary committee by March 10. The European Commi...

AI-Powered Recruitment: Mercor’s Rise to a $2 Billion Valuation

21Feb No Comments

Robotics & AI, Startups & Business

AI-Powered Recruitment: Mercor’s Rise to a $2 Billion Valuation

Mercor, an AI-driven recruiting startup founded by 21-year-old Thiel Fellow Brendan Foody, has achieved a $2 billion valuation following a recent funding round. The San Francisco-based company raised $100 million in its Series B round, led by Felicis, with participation from General Catalyst, DST Global, Benchmark, and Menlo Ventures. Notable previous investors include Peter Thiel, Jack Dorsey, and Larry Summers. Founded in 2023, Mercor specializes in connecting experts from various fields—such as law, medicine, and chemistry—with contract positions to aid in the development of generative AI models. The company is currently profitable, expecting $1 million in profit and $7 million in revenue this month. With a team of approximately 75 employees, Mercor plans to expand its wo...

Dell Nears $5 Billion AI Server Deal with Elon Musk’s xAI

16Feb No Comments

Robotics & AI, Startups & Business

Dell Nears $5 Billion AI Server Deal with Elon Musk’s xAI

Dell Technologies is on the verge of finalizing a monumental deal exceeding $5 billion to supply AI-optimized servers to Elon Musk's artificial intelligence venture, xAI. This agreement involves the provision of servers equipped with Nvidia's GB200 semiconductors, slated for delivery within this year. The collaboration signifies a substantial expansion of xAI's computational capabilities, particularly for its Memphis-based supercomputer, Colossus. Plans are underway to scale Colossus to accommodate over one million GPUs, a significant leap from its current 100,000 units. This development underscores the escalating demand for advanced hardware to support complex AI applications. Notably, Musk's enterprises, including Tesla and xAI, have emerged as prominent consumers in this sector. In a re...

Arm’s Entry into Chip Manufacturing: A Game-Changer for the Semiconductor Industry

14Feb No Comments

Robotics & AI, Startups & Business

Arm’s Entry into Chip Manufacturing: A Game-Changer for the Semiconductor Industry

Arm, the UK-based semiconductor designer, plans to launch its own chip this year, marking a significant shift from its traditional model of licensing designs to companies like Apple and Nvidia. The new chip, expected to be a central processing unit (CPU) for servers in large data centers, will be customizable for clients and manufactured by companies such as Taiwan Semiconductor Manufacturing Co. This move positions Arm in direct competition with its existing partners and could disrupt the $700 billion semiconductor industry. The announcement has positively impacted Arm's shares, reflecting investor confidence in its new strategy. This initiative aligns with SoftBank founder Masayoshi Son's broader focus on AI infrastructure, including the $500 billion Stargate project supported by...

Musk’s $97.4 Billion Bid to Take Over OpenAI

11Feb No Comments

Robotics & AI, Startups & Business

Musk’s $97.4 Billion Bid to Take Over OpenAI

Elon Musk, leading a consortium including his AI venture xAI and investors like Baron Capital Group and Emanuel Capital, has made an unsolicited $97.4 billion bid to acquire the nonprofit entity controlling OpenAI. Musk aims to revert OpenAI to its original nonprofit mission, expressing concerns over its shift towards a for-profit model. OpenAI CEO Sam Altman promptly dismissed the offer, suggesting humorously on X (formerly Twitter) that they could purchase Twitter for $9.74 billion instead, referencing Musk's 2022 acquisition of the platform. This move intensifies the ongoing dispute between Musk and Altman, who co-founded OpenAI in 2015. Musk departed from the company in 2018 due to strategic disagreements and subsequently established xAI in 2023. He has since criticized OpenAI's...

Salesforce Announces $500 Million AI Investment in Saudi Arabia

10Feb No Comments

Robotics & AI, Startups & Business

Salesforce Announces $500 Million AI Investment in Saudi Arabia

Salesforce has announced a $500 million investment in artificial intelligence (AI) in Saudi Arabia, aiming to bolster the nation's digital transformation and support its Vision 2030 objectives. This investment includes the introduction of Salesforce's Hyperforce platform, developed in collaboration with Amazon Web Services, to enhance cloud infrastructure and AI capabilities in the region. In addition to deploying Hyperforce, Salesforce plans to expand the use of its Agentforce customer service product through partnerships with Capgemini, Deloitte, Globant, IBM, and PwC. This initiative aims to provide AI-driven solutions tailored to the needs of Saudi businesses. A key component of Salesforce's strategy is the establishment of a regional headquarters in Riyadh, which will se...

Alphabet Shares Drop as Cloud Growth Slows and AI Spending Rises

5Feb No Comments

Robotics & AI, Startups & Business

Alphabet Shares Drop as Cloud Growth Slows and AI Spending Rises

Alphabet Inc., the parent company of Google, experienced a significant decline in its share price, dropping 7.5% after reporting fourth-quarter revenues of $96.47 billion, which fell short of market expectations. A key factor in this downturn was the performance of Google's cloud computing division, which saw a 30% increase in revenue to $12 billion. This growth was below analyst projections of a 33% rise to $12.19 billion and marked a decrease from the 35% growth observed in the previous quarter. In response to these challenges, Alphabet announced plans to significantly boost its capital expenditures on artificial intelligence, aiming to invest $75 billion in 2025, up from $52.5 billion in 2024. This move underscores the company's commitment to enhancing its AI capabilities to rema...

OpenAI’s Ambitious $300 Billion Valuation and SoftBank’s Strategic Investment

31Jan No Comments

Robotics & AI, Startups & Business

OpenAI’s Ambitious $300 Billion Valuation and SoftBank’s Strategic Investment

OpenAI, the artificial intelligence company behind ChatGPT, is reportedly seeking a valuation of $300 billion in a new funding round led by SoftBank. This ambitious target comes after a significant $6.6 billion funding round in October 2024, which valued the company at $157 billion. In the October round, Thrive Capital led with a $1.25 billion investment, while SoftBank contributed $500 million. Other notable investors included Microsoft, Nvidia, Tiger Global, Fidelity, Altimeter Capital Management, Khosla Ventures, and MGX. Following this, OpenAI allowed employees to sell approximately $1.5 billion worth of shares to SoftBank through a tender offer, further strengthening the partnership between the two companies. SoftBank's increased investment aligns with CEO Masayos...

Aegis Energy Secures £100 Million to Transform UK’s Green Fueling Network

20Jan No Comments

Startups & Business

Aegis Energy Secures £100 Million to Transform UK’s Green Fueling Network

British startup Aegis Energy has raised £100 million ($122 million) from Quinbrook Infrastructure Partners to develop the UK’s first multi-energy fueling stations. This network will cater primarily to commercial vehicles and aims to support the country’s transition toward green energy solutions. The first of five planned stations will open in early 2026, offering electric vehicle charging, hydrogen, hydrotreated vegetable oil (HVO), and biomethane fuel options. Locations such as Sheffield, Immingham, and Warrington are on the roadmap, with an ambitious goal of scaling to 30 stations by 2030.

Apple’s Newest Acquisition Could Mean Changes for Apple Music

9Feb No Comments

Startups & Business

Apple’s Newest Acquisition Could Mean Changes for Apple Music

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