CNBC: Elon Musk says xAI has acquired X in an all-stock transaction valuing xAI at $80B and X at $33B — Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values the artificial intelligence company at $80 billion and the social media company at $33 billion. Lees verder op Tech Meme
Elon Musk / @elonmusk: @xAI has acquired @X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt). Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at unprecedented speed and scale … Lees verder op Tech Meme
Jordan Novet / CNBC: CoreWeave closes flat at $40 in its Nasdaq debut; CoreWeave’s offering is the largest US IPO since UiPath’s NYSE debut in 2021 — CoreWeave’s stock opened at $39 and closed at $40 in its Nasdaq debut on Friday after the company sold shares at $40 a piece, below the expected range. Lees verder op Tech Meme
Makena Kelly / Wired: Sources: DOGE aims to migrate all Social Security Administration’s computer systems off COBOL in a matter of months, risking the integrity of SSA infrastructure — Social Security systems contain tens of millions of lines of code written in COBOL, an archaic programming language. Lees verder op Tech Meme
Elon Musk / @elonmusk: Elon Musk says xAI has acquired X in an all-stock transaction valuing xAI at $80B and X at $33B — @xAI has acquired @X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt). Since its founding two years ago, xAI has rapidly become one of the leading AI labs in the world, building models and data centers at Lees verder op Tech Meme
Ben Bergman / Business Insider: Sources: ScaleAI is seeking a valuation as high as $25B in a potential tender offer; it was last valued at $13.8B in a $1B Series F round led by Accel in 2024 — – Scale AI has become increasingly in demand as companies need to label and sort data to train AI models. Lees verder op Tech Meme
Wall Street Journal: Sources: OpenAI is finalizing a $40B round led by SoftBank, receiving $10B initially and another $30B by 2025’s end if it restructures into a for-profit company — A stipulation of the funding round, led by SoftBank, adds pressure to OpenAI’s efforts to convert to a for-profit company Lees verder op Tech Meme
Luisa Beltran / Fortune: A jury finds Frank founder Charlie Javice guilty of defrauding JPMorgan Chase by falsifying Frank user numbers; the charges carry a maximum sentence of 30 years — A Manhattan jury on Friday issued a guilty verdict against Charlie Javice, the 33-year-old CEO who duped JPMorgan Chase into buying … Lees verder op Tech Meme
Carmen Reinicke / Bloomberg: Reddit shares are down 50% from a February high, after its Q4 earnings report showed its traffic took a hit from a change in Google’s search algorithm — Reddit’s outlook seemed precarious because its US traffic took a hit from a change in Google’s search algorithm. Lees verder op Tech Meme
Ashlee Vance / Core Memory: Former Twitch CEO Emmett Shear, who was OpenAI’s interim CEO in 2023 when Sam Altman was fired, launches Softmax, a startup focused on AI alignment — Insert coup pun here — A new AI alignment player has entered the arena. — Emmett Shear, Adam Goldstein and David Bloomin have set … Lees verder op Tech Meme