Exclusive

Page 24
Physical Intelligence CEO Karol Hausman. Photo: YouTube screengrab.
Exclusive

Robotics Startup Discusses $2 Billion Valuation Months After Founding

By Natasha Mascarenhas, Stephanie Palazzolo and Kate Clark · Oct 21, 2024 6:32pm PDT · 1 comment
The race to develop physical robots powered by artificial intelligence is on again, despite the industry’s track record of failures—and the threat that OpenAI, which has dominated advances in conversational AI, will become a bigger rival. Physical Intelligence, a startup developing software for robots that could work in a range of... The race to develop physical robots powered by artificial intelligence is on again, despite the...
GoPuff's fired CTO, Sree Kotay. Photos via Broward County Mugshots (Instagram) and Shutterstock.
Exclusive

Gopuff Fires CTO Months After Battery Arrest

By Theo Wayt · Oct 21, 2024 10:37am PDT
Gopuff fired its chief technology officer on Friday several months after he was arrested on a felony battery charge for allegedly assaulting his longtime romantic partner, according to an internal company email and public records. Sreekant Kotay, who goes by Sree, was arrested in Broward County, Fla., on June 25 and charged with battery and... Gopuff fired its chief technology officer on Friday several months after he was arrested on a...
Art by Mike Sullivan.
Exclusive

Bank Drama for PayPal, Square After Wells Fargo Bows Out

By Michael Roddan · Oct 21, 2024 6:00am PDT · 2 comments
For more than two decades, Wells Fargo was a juggernaut in a behind-the-scenes business that supported some of the biggest payments companies in the world. The bank’s abrupt exit from that market this year has left a major hole. Block’s Square, for instance, is still hunting for a replacement for Wells Fargo to work on credit card... For more than two decades, Wells Fargo was a juggernaut in a behind-the-scenes business that...
Greg Brockman (left) and Sam Altman. Art by Clark Miller. Brockman image via Getty; Altman via YouTube
Can Greg Brockman Find a Future Back at OpenAI?
By Stephanie Palazzolo and Amir Efrati · Oct 18, 2024 6:00am PDT · 5 comments
Greg Brockman (left) and Sam Altman. Art by Clark Miller. Brockman image via Getty; Altman via YouTube
Exclusive

Can Greg Brockman Find a Future Back at OpenAI?

By Stephanie Palazzolo and Amir Efrati · Oct 18, 2024 6:00am PDT · 5 comments
When Greg Brockman returns to OpenAI in the next month or so, as senior leaders expect him to, the artificial intelligence startup’s co-founder will rejoin a company that’s already changed a lot in the two months since he started a sabbatical. In the time he was gone, OpenAI Chief Technology Officer Mira Murati and several other... When Greg Brockman returns to OpenAI in the next month or so, as senior leaders expect him to,...
Photo by Getty
Exclusive

U.S. Probes TSMC’s Dealings With Huawei

By Qianer Liu · Oct 17, 2024 5:13pm PDT · 1 comment
The U.S. Commerce Department is investigating whether Taiwan Semiconductor Manufacturing Co. has been making artificial intelligence or smartphone chips for Chinese tech giant Huawei Technologies in what would be a breach of U.S. export rules, said two people with direct knowledge of the matter. Since 2020, the U.S. has banned Huawei from buying... The U.S. Commerce Department is investigating whether Taiwan Semiconductor Manufacturing Co. has...
LinkedIn's San Francisco headquarters. Photo via Getty.
Exclusive

LinkedIn is News Publishers’ New Best Friend

By Sahil Patel · Oct 17, 2024 1:00pm PDT
As Facebook owner Meta Platforms has backed away from news, Microsoft’s LinkedIn has leaned into it. LinkedIn is doubling down on its long-standing efforts to promote news articles and work with news publishers, in hopes of driving both usage and ad revenue. In the latest sign of that, in the next few days it will start testing a new News... As Facebook owner Meta Platforms has backed away from news, Microsoft’s LinkedIn has leaned...
Art by Mike Sullivan
Exclusive

TikTok Tries to Woo American Shoppers, One Livestream at a Time

By Kaya Yurieff and Ann Gehan · Oct 16, 2024 10:31am PDT
As TikTok’s U.S. shopping service enters its second year of operation, the ByteDance-owned company has become stingier about wooing online merchants with cash. TikTok has cut back on subsidizing deep discounts for retailers, a tactic it used last year when TikTok Shop launched, and has tripled its cut of sales to 6%. But TikTok has started... As TikTok’s U.S. shopping service enters its second year of operation, the ByteDance-owned...
Nvidia's Jensen Huang, left, and TSMC's Morris Chang. Photos by Getty
Nvidia and TSMC’s Lucrative AI Alliance Shows Signs of Stress
By Qianer Liu · Oct 16, 2024 6:00am PDT · 2 comments
Nvidia's Jensen Huang, left, and TSMC's Morris Chang. Photos by Getty
Exclusive

Nvidia and TSMC’s Lucrative AI Alliance Shows Signs of Stress

By Qianer Liu · Oct 16, 2024 6:00am PDT · 2 comments
The most successful and lucrative partnership in the artificial intelligence business is showing signs of strain. In March, Jensen Huang, CEO of chip giant Nvidia, trumpeted the arrival of a family of new chips, known as Blackwell, designed to run the latest, most powerful AI software. Microsoft’s Satya Nadella, Tesla’s Elon Musk and... The most successful and lucrative partnership in the artificial intelligence business is showing...
Art by Clark Miller.
Exclusive

Compliance Pros in Hot Demand as Crypto and Fintech Firms Staff Up

By Yueqi Yang · Oct 15, 2024 6:00am PDT · 2 comments
For years, many crypto and fintech startups viewed hiring staffers to ensure their businesses followed the rules as an afterthought. Hires to oversee compliance with financial regulations aren’t a flashy sign of growth like software engineers or big-name product hires. Now, compliance staffing has become top of mind for these companies,... For years, many crypto and fintech startups viewed hiring staffers to ensure their businesses...
Hannah McClellan, VP of Operations and Amazon Pharmacy, speaks at Amazon's Delivering the Future conference in Nashville last week. Photo via Getty.
Exclusive

Amazon Looks to Streamline Its Mishmash of Grocery and Pharmacy Brands

By Theo Wayt · Oct 14, 2024 6:00am PDT · 2 comments
After a decade of acquisitions and internal product launches in groceries and pharmacy delivery, Amazon is taking steps to streamline the mishmash of services it now operates and reinvigorate growth in both markets. For instance, Amazon has begun to unify its two online pharmacy operations, which consist of PillPack, a service Amazon bought for... After a decade of acquisitions and internal product launches in groceries and pharmacy delivery,...
Art by Mike Sullivan.
Exclusive

Once-Hot Bagel Startup Has Dough Troubles

By Ann Gehan · Oct 10, 2024 2:32pm PDT · 3 comments
Earlier this year, when healthy-bagel startup BetterBrand was looking to raise more capital, things seemed to be going well. The firm told investors revenue was on track to roughly double this year, and it was expanding into Europe. But founder and CEO Aimee Yang thought the company should be valued at between $250 million and $300 million,... Earlier this year, when healthy-bagel startup BetterBrand was looking to raise more capital,...
Photo via Getty.
Fidelity Plans First Fund That May Use Blockchain
By Yueqi Yang · Oct 10, 2024 2:20pm PDT · 2 comments
Photo via Getty.
Exclusive

Fidelity Plans First Fund That May Use Blockchain

By Yueqi Yang · Oct 10, 2024 2:20pm PDT · 2 comments
Investing giant Fidelity Investments is laying the groundwork to launch a money market fund that may trade on a blockchain in the future. It’s the latest effort by a big traditional money manager to explore using the technology to speed up financial transactions and widen the audience for its products. Fidelity on Sept. 26 filed paperwork... Investing giant Fidelity Investments is laying the groundwork to launch a money market fund that...
Bret Taylor, co-founder and chief executive officer of Sierra, left, and Clay Bavor, co-founder of Sierra. Photo by Bloomberg via Getty Images
Exclusive

Bret Taylor’s AI Agent Startup Nears Deal That Could Value It at Over $4 Billion

By Kate Clark and Stephanie Palazzolo · Oct 9, 2024 5:50pm PDT · 1 comment
Sierra, an artificial intelligence startup co-founded by former Salesforce co-CEO Bret Taylor, is raising hundreds of millions of dollars in new funding led by growth-stage investor Greenoaks Capital, according to two people who have knowledge of the deal. The new financing will at least triple the company’s valuation, which was $1... Sierra, an artificial intelligence startup co-founded by former Salesforce co-CEO Bret Taylor, is...
Amazon's Udit Madan. Photo by Bloomberg via Getty Images
Exclusive

Amazon Management Cuts Will Apply to Fewer Workers Than in Some Forecasts

By Theo Wayt · Oct 9, 2024 4:17pm PDT
In September, Amazon CEO Andy Jassy made waves when he announced a plan to sharply reduce the number of managers at the internet giant, partly to combat the bureaucracy creeping into its culture. It turns out Jassy’s plan will affect far fewer managers than some outside the company had expected. Amazon’s efforts to cut back the... In September, Amazon CEO Andy Jassy made waves when he announced a plan to sharply reduce the...
Art by Clark Miller; Nadella image via Getty
Exclusive

Nadella’s Network: How Microsoft’s CEO Avoids Getting Disrupted

By Aaron Holmes · Oct 9, 2024 3:34pm PDT · 10 comments
Earlier this year, Aravind Srinivas’ phone rang. Satya Nadella, Microsoft’s CEO, wanted to dish with Srinivas—CEO of Perplexity, an artificial intelligence–powered search engine startup—on the biggest competitor they had in common: Google. Days earlier, Google had announced several upgrades to Gemini, its generative... Earlier this year, Aravind Srinivas’ phone rang. Satya Nadella, Microsoft’s CEO,...
OpenAI CEO Sam Altman. Photo by Getty
OpenAI Projections Imply Losses Tripling to $14 Billion in 2026
By Cory Weinberg · Oct 9, 2024 2:17pm PDT · 14 comments
OpenAI CEO Sam Altman. Photo by Getty
Exclusive

OpenAI Projections Imply Losses Tripling to $14 Billion in 2026

By Cory Weinberg · Oct 9, 2024 2:17pm PDT · 14 comments
OpenAI’s newest investors have signed up for a bumpy and expensive ride. The company’s projections suggest it won’t turn a profit until 2029, when its revenue would hit $100 billion. Before it gets to that point, losses could rise as high as $14 billion in 2026, nearly triple this year’s expected loss, according to an... OpenAI’s newest investors have signed up for a bumpy and expensive ride. The...
Art by Clark Miller
Exclusive

OpenAI Leaders Say Microsoft Isn’t Moving Fast Enough to Supply Servers

By Anissa Gardizy, Aaron Holmes and Amir Efrati · Oct 8, 2024 6:30am PDT · 4 comments
OpenAI and Microsoft soared to new heights by developing and sharing artificial intelligence, specialized servers and product revenue with each other. Microsoft’s cash has paid for nearly all of that work. After marching in lockstep, their relationship is changing. Last week, after OpenAI CEO Sam Altman and Chief Financial Officer Sarah... OpenAI and Microsoft soared to new heights by developing and sharing artificial intelligence,...
Dave Clark. Photo via Flickr/U.S. Dept. of Homeland Security.
Exclusive

Former Amazon Consumer Chief Raises $100 Million for New Logistics Startup

By Theo Wayt and Ann Gehan · Oct 8, 2024 6:00am PDT · 1 comment
Dave Clark, a former senior Amazon executive who oversaw the buildup of the commerce giant’s sprawling delivery operations, is launching a logistics software startup with $100 million in funding from investment firm Oak HC/FT. Clark’s next move had been a question mark for the logistics and retail tech world since he was ousted as... Dave Clark, a former senior Amazon executive who oversaw the buildup of the commerce...
Art by Clark Miller.
Exclusive

OpenAI Funding Fuels Wave of Big AI Deals

By Kate Clark and Stephanie Palazzolo · Oct 7, 2024 6:00am PDT · 1 comment
It’s back to the races for artificial intelligence startups that require billions of dollars—and the investors that want to own a piece of their growth. OpenAI’s $6.6 billion capital raise and startups’ high computing costs have sparked new funding discussions between AI startups—including xAI, Anthropic, Perplexity... It’s back to the races for artificial intelligence startups that require billions of...
A Tesla Cybertruck, which uses its 4680 battery. Photo by Bloomberg via Getty
Tesla Plans 4 New Batteries In 2026, Including For a Robotaxi
By Wayne Ma and Steve LeVine · Oct 3, 2024 6:00am PDT · 1 comment
A Tesla Cybertruck, which uses its 4680 battery. Photo by Bloomberg via Getty
Exclusive

Tesla Plans 4 New Batteries In 2026, Including For a Robotaxi

By Wayne Ma and Steve LeVine · Oct 3, 2024 6:00am PDT · 1 comment
Tesla has embarked on an ambitious effort to design four new versions of its in-house battery to power the Cybertruck, its forthcoming Robotaxi and other electric vehicles, according to people with direct knowledge of its plans. This is the most battery projects the company has worked on simultaneously. The projects come four years after CEO... Tesla has embarked on an ambitious effort to design four new versions of its in-house battery to...