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The letter reads like a founder’s article of faith. The share sale underneath it tells a harder story. The founder of MiniMax has told staff he will take no salary until the Chinese AI company builds artificial general intelligence. On the same day, MiniMax moved to raise as much as $2bn from investors. Its shares […]
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A three-year-old startup run by a 23-year-old is in talks to double its worth to $20bn. The numbers are dazzling. Read the footnotes. Mercor, the AI training marketplace, has told investors it can raise at a $20bn valuation. It says it already holds at least one term sheet at that price, Bloomberg reports. The talks […]
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A 23-year-old’s AI startup wants a $20bn valuation, months after a breach cost it Meta Read More »
Anthropic is the hottest stock in private tech. It is also one of the hardest to buy, and that is exactly why the price keeps climbing. Shares in Anthropic are changing hands on secondary markets at an implied valuation of $1.2 trillion, Business Insider reports. That is a 550% jump in a year. It puts […]
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Anthropic is now worth $1.2 trillion on paper. Almost nobody can buy in Read More »
Britain’s banks run on four American clouds. The Treasury reckons two-thirds of UK firms lean on the same handful. Now the regulators are stepping in. The UK has named Microsoft, Google, Amazon and Oracle as “critical third parties” to its financial system, as Reuters first reported. The designation takes effect on 13 July. These are […]
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Japan’s biggest payments app and its most famous convenience-store chain may be about to get closer. SoftBank and its payments arm PayPay are in talks to invest in Seven & i Holdings, the retailer behind 7-Eleven, according to Bloomberg, which reported the discussions on Friday. Neither the size nor the structure of any deal has […]
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SoftBank and PayPay said to be in talks to invest in Seven & i Read More »
SAP has talked its way out of an EU antitrust fine. The European Commission said it would accept a set of commitments from the German software group, closing an investigation into how SAP handles maintenance and support for its on-premise enterprise software and sparing it a penalty that could have run into the billions. It […]
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SAP averts an EU antitrust fine by opening up its support market Read More »
Manus was, briefly, one of the most valuable exits in Chinese AI. Meta agreed to buy the agentic AI startup for more than $2bn late last year, then watched Beijing block the deal on national-security grounds. Now the company is being bought back by the people who owned it in the first place, and Tencent looks set […]
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Tencent in talks to become Manus’ largest shareholder Read More »
OpenAI’s CEO of AGI Deployment Fidji Simo Is Stepping Down Read More »
Elon Musk says SpaceX’s blockbuster listing has probably made thousands of his employees millionaires. Asked on The Sean Hannity Show about a former welder whose stock topped $1m, he said the story was far from unique. “It’s not just one welder, it’s several thousand people who were working on the production line,” Musk said, adding […]
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Musk says he always wanted SpaceX staff to get rich, and thousands just did Read More »
Mark Zuckerberg has publicly confirmed that Meta is exploring an AI cloud business. Selling access to computing power “makes sense”, he said, according to Bloomberg. The confirmation puts the CEO’s name to a plan first reported earlier this month. Meta had been said to be weighing a venture, dubbed Meta Compute, to rent out its spare AI […]
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Zuckerberg confirms Meta is eyeing an AI cloud business to rent out its compute Read More »