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Construct Capital, an early-stage venture capital firm that invests in startups applying technology to sectors like manufacturing, transportation, and defense, has closed its third fund with $300 million in capital commitments. The Washington, D.C.-based firm previously raised a $225 million second fund and a $75 million capital pool for later-stage companies in 2022. While many…
CaaStle, a startup that launched in 2011 as a plus-sized clothing subscription service and in 2018 became an inventory monetization platform for clothing retailers, is facing financial difficulties, reports Axios. The company is almost out of money, CEO Christine Hunsicker has resigned, and law enforcement is investigating alleged financial misconduct, Axios reported, citing a leaked…
OpenAI CEO Sam Altman announced on Wednesday that the rollout of ChatGPT’s viral new AI image features to free users would be delayed, citing significantly higher demand than the company expected. “Images in ChatGPT are wayyyy more popular than we expected (and we had pretty high expectations),” Altman said in a post on X on…
Ukraine’s state-owned railway operator Ukrzaliznytsia said Monday that it was hit by a large-scale cyberattack. The cyberattack affected online ticket sales, including via the mobile app, while trains continue to operate, according to the railway operator’s statement on its official Telegram channel. Daryna Antoniuk, a journalist based in Ukraine, reported the disruption for The Record…
Factories are all the rage in defense tech: Anduril announced a billion-dollar “megafactory” in Ohio earlier this year, while Saronic said last month it’s planning its own factory to mass-produce autonomous warships. Now, Anduril is considering building a factory in the U.K. as it expands beyond U.S. defense contracts. “If we get enough orders, absolutely…
Google has reported the results of an experiment it ran which removed news from search results for 1% of users for 2.5 months in eight* markets in Europe — claiming the results show that news is essentially worthless to Google’s ad business. The search giant conducted the test because European copyright law requires it to…
The North Korean government is reportedly establishing a new hacking group within the intelligence agency Reconnaissance General Bureau (RGB). Daily NK, a news outlet that focuses on North Korea, reported last week that the new hacking unit, called Research Center 227, will focus on research to develop “offensive hacking technologies and programs,” citing a source…
Apple is losing more than $1 billion per year on its streaming service, Apple TV+, according to a new report from The Information. Apple TV+ is the only service in Apple’s portfolio that isn’t profitable, the report reveals. The company has spent around $5 billion on content each year since the streaming service launched in…
A federal judge on Thursday issued an order blocking Elon Musk’s Department of Government Efficiency from accessing systems at the Social Security Administration (SSA) that store the personal information of millions of Americans. In the Thursday ruling, U.S. District Judge Ellen Hollander in Maryland accused DOGE of being “essentially engaged in a fishing expedition” in…
Apple has been sued in federal court over what plaintiffs allege is false advertising of several Apple Intelligence features. Filed Wednesday in U.S. District Court in San Jose, the suit seeks class-action status and damages on behalf of those who purchased Apple Intelligence-capable iPhones and other devices. Plaintiffs claim that device owners haven’t received the…