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On Friday, The Information reported that Meta was preparing to tear down its existing AI org and reorganize it into four new groups. Four days later, the change has been made official with an internal memo, as reported by Bloomberg and The New York Times. The changes were announced by Scale AI founder Alexandr Wang,…
Google will pay $30 million to settle a class action lawsuit claiming it violated children’s privacy on YouTube, per Reuters. The lawsuit alleges that Google collected data from children watching YouTube videos; while this kind of data collection has become common, it remains illegal to collect data from children under the age of 13, per…
The Trump administration continues to meddle with semiconductor giant Intel. The U.S. government is reportedly in discussions to take a stake in Intel, according to reporting from Bloomberg. This deal would be structured to help the company expand its U.S. manufacturing efforts, including its much-delayed Ohio chip factory. This news comes less than a week…
Meta has acquired AI voice startup WaveForms for an undisclosed sum, The Information reports. It’s the company’s latest buy to strengthen its new AI unit, Superintelligence Labs, and Meta’s second major AI audio acquisition in the last month after it bought PlayAI. WaveForms, founded just eight months ago, raised $40 million from Andreessen Horowitz in…
Sales automation startup Clay has raised a $100 million Series C at a $3.1 billion valuation in a round led by CapitalG, confirming TechCrunch’s report from June. The financing follows a $1.25 billion Series B round from six months ago and a $1.5 billion Sequoia-led tender offer announced a couple of months ago, which allowed…
TikTok is launching a new version of its app called “TikTok Pro” in Germany, Portugal, and Spain. The app features TikTok’s new “Sunshine Programme,” which allows users to support charitable organizations. Users can earn “virtual sunshine” by inviting others to join and by interacting with charity-related content, such as liking or reposting videos, following charity…
Earlier in July, U.S. Secretary of Commerce Howard Lutnick gave chipmakers like Nvidia the green light to start selling certain AI chips in China again, but his department is said to be holding things up. According to reporting from Reuters, Nvidia has yet to receive a license to sell its H20 AI chips. The U.S….
AI video-generating startups Luma and Runway are looking beyond movie studios. These video-generating AI companies have their sights set on other markets for future revenue streams and have been in talks with both robotics and self-driving car companies, according to reporting from The Information. The report didn’t identify which companies Luma and Runway are in…
Anthropic is nearing a deal to raise between $3 billion and $5 billion in funding, valuing the large language model developer at $170 billion, Bloomberg reported. Iconiq Capital is leading this funding round, but there’s a possibility of a second lead investor joining the deal. The company has also been in talks with Qatar Investment…
Christine Hunsicker, founder of the fashion startup CaaStle, turned herself in to authorities Friday to face fraud charges, authorities confirmed to Bloomberg. The U.S. Attorney for the Southern District of New York unsealed an indictment against her, charging her with wire fraud, securities fraud, money laundering, aggravated identity theft, and lying to financial institutions. She…