November 29, 2024
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AMD to acquire Finnish AI startup Silo AI for $665 million as AI race heats up
Nickie Louise Posted On July 10, 2024


Advanced Micro Devices (AMD) announced on Wednesday it has reached an agreement to acquire Finnish artificial intelligence startup Silo AI for approximately $665 million in cash. This strategic acquisition is aimed at bolstering the company’s AI chip capabilities to better […]


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TurboTax-parent Intuit to lay off about 1,800 jobs, or 10% of the workforce, as the company shifts focus to AI
Nickie Louise Posted On July 10, 2024


TurboTax parent company Intuit announced on Wednesday it’s laying off about 1,800 employees, or 10% of its workforce. This move comes as the company aims to reallocate resources to other critical areas including artificial intelligence. In recent years, Intuit has […]


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Elon Musk’s AI startup xAI ends talks on $10 billion server deal with Oracle
Nickie Louise Posted On July 9, 2024


Elon Musk’s artificial intelligence startup xAI and tech giant Oracle have ended their discussion over a potential $10 billion server deal,  The Information reported on Tuesday. Following the news, shares of Oracle saw a significant dip, falling as much as […]


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Cloud storage startup Nasuni valued at $1.2 billion in funding led by Vista
Nickie Louise Posted On July 9, 2024


Cloud storage startup Nasuni has reached a valuation of approximately $1.2 billion after securing a strategic growth investment led by Vista Equity Partners. The Boston-based enterprise data platform startup added that Vista will be joined by TCV and KKR in […]


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Agrotoken partners with Tanssi to revolutionize agro-finance in South America using blockchain
Nickie Louise Posted On July 9, 2024


Appchain infrastructure platform Tanssi announced on Tuesday it has teamed up with Agrotoken, a global tokenization platform for agricultural commodities, to introduce decentralized tools to transform the agrotech markets in South America. This partnership aims to develop an innovative agro-finance […]


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AI startup funding more than doubles in Q2, surges to $24 billion
Nickie Louise Posted On July 9, 2024


The artificial intelligence boom, ignited by the success of ChatGPT two years ago, shows no signs of slowing down as investors continue to funnel billions into generative AI startups. According to the latest data from Crunchbase, investments in AI startups […]


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Beneficial ownership information reporting requirements: What startups need to know
Nickie Louise Posted On July 8, 2024


In a move to increase corporate transparency and combat financial crimes, the US Financial Crimes and Enforcement Network (FinCEN) now requires most US businesses to disclose information about their beneficial owners. This new regulation, part of the Corporate Transparency Act […]


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German online food delivery giant Delivery Hero faces a potential €400 million fine over antitrust violations
Nickie Louise Posted On July 8, 2024


German online food delivery giant Delivery Hero revealed on Sunday that it may face a fine from the European Commission over alleged antitrust violations. The Berlin-based company told investors that it could be fined over €400 million ($433 million) due […]


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Bitfarms names new CEO just a month after rejecting Riot Platforms’ takeover bid
Nickie Louise Posted On July 8, 2024


Bitcoin mining startup Bitfarms has appointed insider Ben Gagnon as its new Chief Executive Officer to steer the company through a strategic review and an ongoing dispute with its largest shareholder and rival, Riot Platforms. The news comes just a month […]


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OpenAI Hacked: Hacker stole OpenAI’s internal AI secrets in a data breach, NYT reports
Daniel Levi Posted On July 5, 2024


In a major security breach last year, a hacker infiltrated the internal messaging systems at OpenAI, stealing sensitive details about the company’s artificial intelligence technologies, the New York Times reported on Thursday. The breach also exposed internal conversations among researchers […]


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Jeff Bezos to sell $5 billion of Amazon shares after stock hits record high
Nickie Louise Posted On July 3, 2024


In a move that may raise eyebrows across the financial markets, Amazon founder and executive chair Jeff Bezos plans to sell almost $5 billion worth of shares in the e-commerce behemoth, according to a recent regulatory filing. This announcement follows […]


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Amazon is launching a new discount marketplace to compete with Temu; direct shipping from China
Daniel Levi Posted On July 3, 2024


Amazon is gearing up to launch a new shopping section designed to directly compete with emerging e-commerce giants Temu and Shein, according to a report from The Information. This new section, or possibly an app, will offer a range of […]


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AI coding startup Magic seeks to raise $200 million at a $1.5 billion valuation
Nickie Louise Posted On July 3, 2024


Magic, a generative AI startup developing artificial intelligence models to write software, is in advanced discussions to raise over $200 million in a new funding round, which would value the company at $1.5 billion, according to an exclusive report from […]


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Industry Ventures secures $900 million hybrid fund to invest in early-stage tech startups
Nickie Louise Posted On July 2, 2024


Industry Ventures, a pioneer investment firm specializing in private technology companies, has closed a $900 million fund for its latest fund, Industry Ventures Partnership Holdings VII (Fund VII). This news comes as a boon for non-generative AI startups that are […]


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Why Institutions Are Buying Bitcoin
Daniel Levi Posted On July 2, 2024


The rise of Bitcoin is monumental as it grew from its early days to a decentralized payment system that surprised the world with its huge market capitalization. Bitcoin was made in its decentralized nature to give power to the people. […]


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UK fintech startup Revolut seeks $40 billion valuation following a $553.81 million profit
Nickie Louise Posted On July 2, 2024


British digital banking startup Revolut announced on Tuesday a record pretax profit of £438 million ($553.81 million) for 2023, driven by robust user growth and a significant rise in interest-related income. This marks a significant milestone as the company aims […]


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Electric car maker Fisker files for bankruptcy, leaving thousands of EV owners with uncertain future
Nickie Louise Posted On July 1, 2024


Electric vehicle startup Fisker filed for Chapter 11 bankruptcy protection in June 2024. The news ends months of speculation over the future of the company and marks a critical point in the company’s tumultuous journey. Fisker is now focused on […]


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Amazon hires founders of AI startup Adept to lead its push into AI-powered work automation
Nickie Louise Posted On July 1, 2024


Amazon has hired the co-founders of AI agent startup Adept in a move to bolster its artificial intelligence capabilities and enhance its AI-powered work automation efforts. Adept co-founder and CEO David Luan will join Amazon, along with Adept co-founders Augustus […]


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Why Bitcoin Price Is Not Pumping Despite ETF Inflow
Daniel Levi Posted On July 1, 2024


The positive sentiment surrounding Bitcoin ETFs by crypto enthusiasts allowed Bitcoin to rally more than 53% after the US Securities and Exchange Commission (SEC) approved the first regulated spot Bitcoin ETFs on Jan. 10. However, since the rally maxed the […]


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Google acquires a stake in BlackRock-backed Taiwanese solar startup to boost energy capacity amid AI boom
Nickie Louise Posted On July 1, 2024


Google announced on Monday it has acquired a stake in Taiwan’s New Green Power (NGP) in a strategic move to advance its sustainability goals. The deal includes capital investment from Google into the BlackRock fund-owned firm. As part of the […]


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