FTX estate sells majority stake in startup Anthropic for $884 million

In this photo illustration, Anthropic logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Bankrupt crypto exchange FTX has struck a deal with a consortium of buyers to sell the majority of its stake in artificial intelligence startup Anthropic for $884 million, according to a filing submitted … Read more

Anthropic lining up a new slate of investors, ruled out Saudi Arabia

Deep-pocketed, sovereign wealth funds are among the investors clamoring to get a stake in Anthropic, the red-hot artificial intelligence startup that’s taking on OpenAI. One country that’s being left out: Saudi Arabia. As bankers line up a group of potential new Anthropic backers, the company has ruled out taking money from the Saudis, according to … Read more

(RDDT) starts trading on NYSE

Reddit shares jumped as much as 70% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. … Read more

Reddit prices IPO at $34 per share, valuing company at $6.5 billion

In this photo illustration a Reddit logo is seen displayed on a smartphone. Mateusz Slodkowski | Sopa Images | Lightrocket | Getty Images Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, according … Read more

Fitbit Will Start Talking to You Thanks to Google’s New AI

Photo: Bloomberg / Contributor (Getty Images) Google announced it’s building a new large language model that will give health and fitness tips on Tuesday, part of a broader push across the company to develop AI health algorithms and robot doctor tools. Generating Video Via Text? | Future Tech Fitbit (a subsidiary of Google) is partnering … Read more

Nvidia announces GB200 Blackwell AI chip, launching later this year

Nvidia CEO Jensen Huang compares the size of the new “Blackwell” chip versus the current “Hopper” H100 chip at the company’s developer conference, in San Jose, California. Nvidia Nvidia on Monday announced a new generation of artificial intelligence chips and software for running artificial intelligence models. The announcement, made during Nvidia’s developer’s conference in San … Read more

Strategist tells investors not to worry about high stock valuations

Traders work on the floor of the New York Stock Exchange NYSE Investors should disregard concerns over high valuations and focus on growth in what is now a “stockpicker’s market,” according to Matt Orton, chief market strategist at Raymond James Investment Management. The S&P 500 closed out a two-week losing streak on Friday, but Orton … Read more

Apple in talks to license Google’s Gemini for generative AI: Bloomberg

This illustration picture taken on April 20, 2018 in Paris shows apps for Google, Amazon, Facebook, Apple (GAFA) and the reflexion of a binary code displayed on a tablet screen. (Photo by Lionel BONAVENTURE / AFP) (Photo credit should read LIONEL BONAVENTURE/AFP via Getty Images) Lionel Bonaventure | Afp | Getty Images Apple is reportedly … Read more

An overlooked corner of women’s health may be $350 billion market opportunity

Peathegee Inc | Tetra Images | Getty Images After years of being ignored, menopause has entered the public conversation. Celebrities from Drew Barrymore to Naomi Watts have opened up about symptoms and promoted products. Yet despite the increased chatter, there is a long way to go when it comes to treating symptoms — and a … Read more

FTC inquiry into Reddit’s AI data-licensing practices ahead of IPO

Reddit said on Friday that the Federal Trade Commission sent a letter to the company about its data-licensing business related to the training of artificial intelligence systems. “On March 14, 2024, we received a letter from the FTC advising us that the FTC’s staff is conducting a non-public inquiry focused on our sale, licensing, or … Read more