Sam Altman’s Reddit stake now worth over $1 billion after post-earnings pop

Posted on October 29, 2024 by Techme101

OpenAI CEO Sam Altman’s stake in Reddit has ballooned to more than $1 billion in value, as of after-hours trading on Tuesday.

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Ashton Kutcher’s Sound Ventures backs Fei-Fei Li’s World Labs in continued AI push

Posted on October 29, 2024 by Techme101

Ashton Kutcher’s VC firm, Sound Ventures, co-led by general partners Guy Oseary and Effie Epstein, is betting on AI — including with an investment in Fei-Fei Li’s World Labs, the investors confirmed on stage at TechCrunch Disrupt 2024 on Tuesday. The startup, founded by Li, the Stanford professor dubbed the “Godmother of AI,” has already […]
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Ashton Kutcher explains why he’s betting on AI, but not trying to pick a ‘winner’

Posted on October 29, 2024 by Techme101

Ashton Kutcher, co-founder of Sound Ventures, believes that every company is going to become an AI company, but that there might not be a winner in the space. The actor and investor spoke at TechCrunch Disrupt 2024 on Tuesday alongside Sound co-founder Guy Oseary and partner Effie Epstein to detail what the firm is looking […]
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AMD shares fall as forecast fails to impress despite strong AI growth

Posted on October 29, 2024 by Techme101

AMD shares are up about 20% so far in 2024, although rivals such as Nvidia and Broadcom have had much greater gains during the same period, driven by AI chips.

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Snap shares jump 10% on profit beat, stock buyback

Posted on October 29, 2024 by Techme101

Snap reported third-quarter results on Tuesday that beat on the top and bottom lines, but the company issued light fourth-quarter guidance.

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Reddit shares soar 22% on earnings beat and better-than-expected forecast

Posted on October 29, 2024 by Techme101

Reddit reported third-quarter results that exceeded analysts’ estimates and gave a forecast for the current period that was well ahead of estimates.

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OpenAI reportedly planning to build its first AI chip in 2026

Posted on October 29, 2024 by Techme101

OpenAI is reportedly working with TSMC and Broadcom to build an in-house AI chip — and beginning to use AMD chips alongside Nvidia’s to train its AI. Reuters reports that OpenAI has — at least for now — abandoned plans to establish a network of factories for chip manufacturing. Instead, the company will focus on […]
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Data (Use and Access) Bill: What Is It and How Does It Impact UK Businesses?

Posted on October 29, 2024 by Techme101

Find out what regulatory changes the U.K. government’s Data (Use and Access) bill has made and how your business can comply.

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Actor and director Olivia Wilde launches a VC firm

Posted on October 29, 2024 by Techme101

Actor and director Olivia Wilde, famous for in “Tron: Legacy” and “Don’t Worry Darling,” quietly launched venture firm Proximity Ventures late last year, according to Bloomberg. She launched the early- and growth-stage investment fund with Neil Sirni, formerly of Roc Nation’s venture division Arrive; Jason Mack, formerly of Mack Ventures; and Santi White, the musician […]
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Elon Musk’s xAI is reportedly trying to raise billions more

Posted on October 29, 2024 by Techme101

Elon Musk’s AI company, xAI, is in talks to raise new funding at a valuation around $40 billion, according to The Wall Street Journal. xAI hopes to raise several billion dollars in the round, adding to the $6 billion in Series B funding that the company raised in May. The rumored valuation would nearly double […]
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