US AI Safety Institute could face big cuts
The National Institute of Standards and Technology could fire as many as 500 staffers, according to multiple reports — cuts that further threaten a fledgling AI safety organization. Axios reported this week that the US AI Safety Institute (AISI) and Chips for America, both part of NIST, would be “gutted” by layoffs targeting probationary employees […]
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November 2023
Yellow, a new VC firm from Glovo founders and Atomico investor, is betting on Southern Europe
It’s always interesting when a new VC firm with a fresh team of partners emerge. And with Yellow, it’s interesting in multiple ways. Founded by Oscar Pierre and Sacha Michaud, the founders of Glovo, as well as Adam Lasri, a former investor for VC giant Atomico, Yellow is a new €30 million pre-seed fund that […]
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Ontario Teachers’ fund backs Indian logistics unicorn Xpressbees in $80 million funding
Xpressbees, an Indian logistics firm that works with several e-commerce firms in the country, has raised $80 million in a new funding round led by Ontario Teachers’ late-stage venture growth fund amid a surge in the country’s online shopping activity. The Canadian pension fund has acquired a stake in the Pune-headquartered startup at about $1.4 […]
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Shein reportedly seeks $90 billion valuation in IPO
Shein has seen big swings in its price tag over the last year. The Singapore-headquartered fast fashion platform is targeting a valuation of up to $90 billion in a potential U.S. initial public offering, Bloomberg reported on Tuesday. That price tag is up from the $64 billion valuation it was given in a funding round […]
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Secure These 3 Energy Stocks Amid Conflict
Everything announced at OpenAI’s first developer event
OpenAI held its first developer event on Monday and it was action-packed. The company launched improved models to new APIs. Here is a summary of all announcements in case you missed the event. ChatGPT’s user milestone After a year of its launch, ChatGPT is pretty popular. OpenAI said that more than 100 million people are […]
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GM halts production of Cruise Origin robotaxi amid suspended operations
Cruise is pausing production of its purpose-built robotaxi, the Origin — the autonomous vehicle company’s latest setback amid suspended operations and increased scrutiny from regulators. Forbes first reported the news, citing audio of Cruise CEO Kyle Vogt’s address at an all hands meeting Monday. TechCrunch has confirmed the news with sources who spoke to us […]
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Mamaearth makes public debut, youngest Indian unicorn to list
Shares of Honasa Consumer, the parent firm of direct-to-commerce beauty and personal care Mamaearth, jumped slightly in a key public listing watched by many Indian startups as they evaluate their own initial public offerings. Mamaearth, a seven-year-old company, was trading at 331.45 Indian rupees ($3.98) per share on NSE, above its 330 Indian rupees listing […]
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WeWork, once worth $47 billion, files for bankruptcy
Flexible-office-space firm WeWork has filed for Chapter 11 bankruptcy protection, a stunning change in fortune for the once high-flying startup co-founded by Adam Neumann and bankrolled by SoftBank. The New York-based firm has listed both assets and liabilities in the range of $10 billion to $50 billion in its petition filed in a New Jersey federal […]
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Why this autonomous vehicle veteran joined a legged robotics startup
Zhang Li‘s career path has looked like a bellwether for China’s tech trends. When the Cisco veteran joined WeRide in 2018, the Chinese autonomous vehicle company was less than a year old. In the next few years, the country would become a breeding ground for three AV unicorns, including WeRide, of which valuation surged to […]
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