India has been one of the top recipients of remittances in the world for more than a decade. Inward remittances jumped from $55.6 billion in 2010-11 to $118.7 billion in 2023-24, according to data from the country’s central bank. The bank projects that figure will reach $160 billion in 2029. This means there is an […]
On Wednesday, at the 42-year-old company’s investor day, Sam’s Club CEO Chris Nicholas said the warehouse chain is planning to open 15 clubs per year, indefinitely.
OpenAI co-founder and former chief scientist Ilya Sutskever’s new AI startup, Safe Superintelligence (SSI), is using Google Cloud’s TPU chips to power its AI research, part of a new partnership the companies announced on Wednesday in a press release. Google Cloud says SSI is using TPUs to “accelerate its research and development efforts toward building […]
The sale of bankrupt EV startup Canoo’s assets to its CEO has been okayed by the judge overseeing the case. After evaluating a number of limited objections to the sale, Judge Brendan Shannon said in a hearing Wednesday he believes the process was fair, and that no one else but Canoo CEO Anthony Aquila made […]
New York’s A-list venture capital seed fund, Lerer Hippeau, announced it closed a ninth $200 million fund on Wednesday. That’s a step up from its eighth fund, which closed at $140 million, it said. With the new fund, Lerer Hippeau has $1.4 billion of assets under management. Since its inception in 2010, Lerer Hippeau has […]
OpenAI, like many AI labs, thinks benchmarks are broken. It says it wants to fix them through a new program. Called the OpenAI Pioneers Program, the effort will focus on creating evaluations for AI models that “set the bar for what good looks like,” as OpenAI phrased it in a blog post. “As the pace […]