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Meta is working on a pair of AI smart glasses with the Italian high fashion brand, Prada, according to a report from CNBC on Tuesday. It’s unclear at this time when Meta’s Prada smart glasses will be publicly announced. The reported Prada collaboration signifies that Meta aims to bring its AI smart glasses technology to…
Amazon CEO Andy Jassy is betting that generative AI will change how the company thinks about its workforce in the future. Jassy said that as the company continues to roll out more AI agents, and thus change how the company’s work is done, he expects Amazon will reduce the number of corporate jobs needed in…
Meta’s deal to partially acquire the AI startup Scale, giving it 49% ownership, is certainly unusual. What Scale officially announced is that the deal values the company at over $29 billion and that it will “distribute” proceeds to shareholders and vested equity holders (aka employees) granting them with “substantial liquidity” while allowing them to continue…
Felicis founder Aydin Senkut is celebrating his 20th year as an institutional early-stage investor by announcing the firm’s biggest fund yet: a $900 million Fund X. This follows the $825 million Fund IX raised in 2023 and the $600 million Fund XIII raised in 2021. Felicis, a seed and Series A firm, is known for…
A U.S. government website designed to inform the public about vaccines has been defaced and now hosts apparently AI-generated spam. The domain, which belongs to the U.S. Department of Health and Human Services (HHS), appears to have been hosting the same kind of content — mostly gay-themed and LGBTQ+ posts — since at least May…
Los Angeles-based Coco Robotics, a startup building last-mile delivery robots, announced it raised $80 million on Wednesday. The funding round included angel investors Sam Altman and Max Altman, both returning investors, in addition to VC firms like Pelion Venture Partners and Offline Ventures, among others. This brings the company’s total funding to more than $120…
Vijay Pande, a general partner at Andreessen Horowitz who founded the firm’s a16z Bio + Health strategy, announced that he is stepping down from his role. Since its founding in 2014, a16z Bio + Health has raised four funds of nearly $3 billion each, including a $1.5 billion fund that closed in 2022. However, it’s…
OpenAI says it recently hit $10 billion in annual recurring revenue, up from around $5.5 billion last year. That figure includes revenue from the company’s consumer products, ChatGPT business products, and its API, an OpenAI spokesperson told CNBC. Currently, OpenAI is serving more than 500 million weekly active users and 3 million paying business customers….
Billionaire Elon Musk’s AI startup, xAI, is reportedly launching a $300 million share sale that values the company at $113 billion. According to The Financial Times, the secondary stock offering, which comes after xAI acquired Musk’s social media platform, X, for $33 billion, will allow staff to sell shares to new investors. The tender offer…
Elon Musk may have stepped away from his duties as the lead of the Department of Government Efficiency and adviser to President Trump, but he’s still active in D.C. circles. This time, he’s on the other side, lobbying lawmakers on legislation related to autonomous vehicles, according to a report by Bloomberg that cited unnamed sources….