OpenAI Launches ‘Mini’ Version of Flagship AI Model
The announcement comes two months after the startup announced its flagship GPT-4o model.
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Altimeter Raises $553 Million for VC Investments
The fundraising follows large VC funds raised by Index Ventures and others.
Meta Explores Investment in European Eyewear Giant EssilorLuxottica
The talks come as Meta and EssilorLuxottica try to hash out their latest agreement.
Warner Bros. Discovery Considers Splitting in Two
WBD is contemplating carving off its declining TV networks businesses from its streaming and studio operations.
Meta to Withhold Multimodal Models from EU
The company said the decision was "due to the unpredictable nature of the European regulatory environment."
Chip Stocks Fall On Report That Biden is Considering Tougher China Trade Rules
Bloomberg reported that some U.S. allies—who have already halted some shipments of chip equipment to China—view the threats of an escalation as “draconian.”
Anthropic, Menlo Ventures Launch $100 Million Fund to Back AI Startups
The capital for the fund comes from the $1.35 billion vehicle Menlo Ventures raised last November.
GitLab Explores Sale, Shares Jump 7%
GitLab shares rose more than 7% Wednesday, giving it a market capitalization of roughly $8.6 billion.
Grayscale Launches AI-Focused Crypto Fund
The fund will invest in artificial intelligence-focused tokens
Ad Giant GroupM Names New Global CEO
WPP's GroupM, the world's largest ad-buying firm which controls more than $60 billion in annual ad spending, has named Brian Lesser as its new global CEO.
NBA Moves One Step Closer to $76 Billion Sports Rights Package
NBA owners have approved a new rights deals with Disney, Comcast and Amazon. Existing broadcast partner Warner Bros. Discovery is now on the clock to match.
More Layoffs Hit Warner Bros. Discovery
The entertainment giant is reportedly laying off nearly 1,000 employees, primarily across its finance, business affairs and production divisions.
Marc Andreessen, Ben Horowitz Plan to Donate to Trump PAC
The planned donations by the venture capitalists would add to the number of big-name tech investors and executives that have lined up to support Trump.
Ozy Media Founder Carlos Watson Found Guilty in Fraud Trial
Watson and high-ranking Ozy employees lied about the media startup’s revenue, a federal jury found.
OpenAI Cofounder Karpathy Launches AI Education Startup
Andrej Karpathy left OpenAI, which he cofounded, in February.
Musk Says X and SpaceX Will Move Headquarters to Texas
The billionaire said the moves were prompted by a California law related to transgender children.
FTC Seeks More Info From IBM, HashiCorp on Merger
The companies will have to provide additional details to the FTC for an antitrust review, potentially prolonging the takeover.
Goldman Sachs Profit Recovers Amid Investment Banking, Trading Rebound
Goldman Sachs posted a second quarter profit of $3 billion, 2.5 times bigger than the same period last year.
In Unusual Move, Sequoia Offers to Buy Stripe Shares From Its Own Investors
Sequoia is offering to buy Stripe shares from LPs in venture funds it raised between 2009 and 2012.
Musk Confirms Tesla Robotaxi Delay
The Tesla CEO said the delay came after he requested design changes to the vehicle.
Weekday mornings
The Information AM by The Information Staff
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