A look at Abu Dhabi-based AI startup G42, as sources say US intelligence officials fixated on CEO Xiao Peng ahead of its China divestment and Microsoft deal
Abu Dhabi-based G42 found it could no longer play for both teams. — G42, a startup in Abu Dhabi, has made itself … X: @eliotwb . LinkedIn: Mark Bergen X: Eliot Brown / @eliotwb :...
Source: a breakthrough spearheaded by OpenAI chief scientist Ilya Sutskever enabled a model that could solve basic math problems, stoking excitement and concern
One day before he was fired by OpenAI's board last week, Sam Altman alluded to a recent technical advance the company …
OpenAI reaches a deal in principle for Sam Altman to return as CEO, with an initial board of Bret Taylor as chair, alongside Larry Summers and Adam D'Angelo
4 key takeaways Jason Dorrier / Singularity Hub : OpenAI Mayhem: What We Know Now, Don't Know Yet, and What Could Be Next New York Times : Explaining OpenAI's Board Shake-Up CNBC :...
AlphaSense: almost 40% of S&P 500 companies mentioned AI or related terms in their latest earnings call, but only 16% had AI in the related regulatory filing
S&P 500 groups from a burrito maker to a cruise-ship operator tout promise of emerging technology X: @eliotwb . Forums: Slashdot X: Eliot Brown / @eliotwb : LOL “Almost 40 per cent...
How SoftBank is playing catch-up despite focusing on AI since 2018; PitchBook says the firm invested in just one of the 26 generative AI startups valued at $1B+
Billionaire Masayoshi Son said he would make SoftBank ‘the investment company for the AI revolution,’ but he missed out on the most recent frenzy
Sources: Tiger Global refused hundreds of bids for its private assets in recent months for being too low; on January 1, Tiger managed $51B, including $37B in VC
Tiger Global Management turned down hundreds of bids for its private assets in recent months because it felt the offers were too low …
Sequoia plans to split into three firms, Sequoia in the US and Europe, HongShan in China, and Peak XV in India and Southeast Asia, “no later than” March 2024
Venture capital's biggest global brand is breaking up, with Sequoia's China and India and Southeast Asia funds relaunching …
Sources: Tiger Global marked down its investments in private companies by ~33% across its VC funds in 2022, erasing $23B in value from its portfolio of startups
Wall Street Journal :
Signature's and SVB's collapse was aided by GOP-led Dodd-Frank reforms that raised the “stress test” threshold from $50B to $250B, pushed for by SVB executives
Officials with Signature and Silicon Valley banks, which regulators seized in recent days, called for looser financial requirements for midsize banks.
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries
'The Silicon Valley Bank (SVB), a leading lender to startups and venture capitalists … Bloomberg : Khosla Ventures Tells Some Startups Firm Will Cover Payroll South China Morning P...
SVB draws support from 300+ VC firms, including General Catalyst, while 1,200+ founders and CEOs sign a Y Combinator petition asking the US Congress to act
More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
Preqin data: VC firms raised $20.6B in new funds in Q4 2022, down 65% YoY and the lowest Q4 amount since 2013; LPs backed 226 funds, the fewest in Q4 since 2012
Berber Jin / Wall Street Journal :
Documents offer a look at the four men, including a former child actor, who control ~86% of Tether Holdings, incorporated in 2014, and their ties to Bitfinex
The stablecoin has become a lucrative business at center of crypto economy — Tether Holdings Ltd. operates a $68 billion stablecoin …
Sources: Tiger Global reduced its latest fund's target size from $6B in October 2022 to $5B; Tiger expected to raise roughly $12.7B, its prior fund size in 2021
Wall Street Journal : Tweets: @eliotwb , @annberry_nyc , and @wsjmarkets Tweets: Eliot Brown / @eliotwb : Tiger Global: become synonymous with the overheated startup market by inc...
Sources: Stripe is aiming to raise ~$2.5B at a $55B to $60B valuation, led by Thrive Capital, which has committed $1B; Stripe was valued at ~$95B in March 2021
Thrive has committed $1 billion, which would value the payments provider Stripe at about $55 billion to $60 billion, people with knowledge of the matter said.
Independent examiner: Celsius misled investors and sometimes used new customer funds to pay for withdrawals, CEO Alex Mashinsky made false claims, and more
Shoba Pillay was appointed by a New York bankruptcy court to look at whether the crypto lender operated as a Ponzi scheme
US and Bahamian government documents detail which FTX and Alameda executives had discussed the crypto exchange using customer funds before FTX's collapse
David Yaffe-Bellany / New York Times :
FTX identifies ~$5.5B in “liquid” assets for recovery, including $415M in “unauthorized third-party transfers” possibly tied to a hack found after its collapse
- FTX has identified about $5.5 billion worth of digital assets for recovery, a number that includes $415 million in “hacked crypto.”
Pitch decks: Three Arrows Capital founders Su Zhu and Kyle Davies are hoping to raise $25M to start crypto exchange GTX, partnering with two CoinFlex executives
- Su Zhu and Kyle Davies, the founders of collapsed crypto hedge fund Three Arrows Capital (3AC), are hoping to raise $25 million …
Pitch decks: Three Arrows Capital founders Su Zhu and Kyle Davies are hoping to raise $25M to start crypto exchange GTX, partnering with two CoinFlex executives
- Su Zhu and Kyle Davies, the founders of collapsed crypto hedge fund Three Arrows Capital (3AC), are hoping to raise $25 million …