Elon Musk says xAI acquired X in an all-stock deal valuing xAI at $80B and X at $33B; xAI was reportedly in talks to raise funds in February at a $75B valuation
Elon Musk said on Friday that his startup xAI has merged with X, his social network, in an all-stock transaction that values …
An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected
An arbitrator has instructed the book's author and its publishers to stop publishing the book, though it's unclear how much authority the arbitrator has to do so.
An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected
An arbitrator has instructed the book's author and its publishers to stop publishing the book, though it's unclear how much authority the arbitrator has to do so.
Meta donates $1M to President-elect Trump's inaugural fund; sources say Mark Zuckerberg gifted Ray-Ban Meta smart glasses to Trump at Mar-a-Lago on November 27
President-elect had blasted the tech tycoon during the presidential campaign, but ties have been improving
Trump says David Sacks will be the “White House AI and crypto czar” to “work on a legal framework so the crypto industry has the clarity it has been asking for”
- New post will help Trump put imprint on developing industries — Venture capitalist Sacks helped Trump make inroads with tech
Sources: Meta's internal coding tool, Metamate, incorporates OpenAI's GPT-4 alongside Llama to make the tool more useful for developers and other Meta staff
Kali Hays / Fortune :
Block reports Q3 revenue up 6% YoY to $5.98B, vs. $6.24B est., gross profit up 19% YoY to $2.25B, Cash App gross profit up 21% to $1.31B, and a $284M net income
WATCH NOW — Block reported third-quarter revenue on Thursday that trailed Wall Street expectations.
Meta reports Q3 revenue up 19% YoY to $40.59B, net income up 35% YoY to $15.69B, and family daily active people up 5% YoY to 3.29B on average for September 2024
Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2024.
Internal memo: Block CEO Jack Dorsey says Tidal is in for another mass layoff; insiders say as many as 100 people could be laid off, or ~25% of Tidal's staff
Block CEO and founder Jack Dorsey wants streaming music app Tidal to operate like a startup again - and that means layoffs
Mark Zuckerberg says the company's AI-driven feed and video recommendations have led to an 8% increase in time spent on Facebook and a 6% increase on Instagram
Sarah E. Needleman / Wall Street Journal :
Jack Sweeney says Meta suspended Instagram and Threads accounts tracking celebrities' private jets, including Zuckerberg's; Meta cites a “risk of physical harm”
Instagram and Threads accounts that track the private jets of celebrities - including Mark Zuckerberg, Elon Musk …
Sources: Meta laid off ~100 people, at least the third such incremental layoff at Meta in 2024, separate from those let go for improper use of Grubhub credits
Mark Zuckerberg at Meta Connect in 2024. — Scores of Meta employees have been laid off this week, as the company embraces …
Source: Apple is no longer in talks to participate in an OpenAI funding round that is expected to raise as much as $6.5B
Company behind ChatGPT is aiming to raise around $6.5 billion in funding set to close next week — Apple is no longer in talks to participate in an OpenAI funding round expected …
Docs: OpenAI had $300M in monthly revenue in August, up 1,700% since early 2023, 350M MAUs in June, and expects ~$3.7B in annual sales but $5B in losses in 2024
As the company looks for more outside investors, documents reviewed by The New York Times show consumer fascination with ChatGPT and a serious need for more cash.
Sam Altman claims “deep learning worked”, superintelligence may be “a few thousand days” away, and “astounding triumphs” will incrementally become commonplace
In the next couple of decades, we will be able to do things that would have seemed like magic to our grandparents.
Amazon CEO Andy Jassy tells staff to return to the office five days per week from January 2, 2025, citing the importance of the policy to the company's culture
Amazon orders employees back to the office five days a week Michael Grothaus / Fast Company : Amazon CEO Andy Jassy orders employees back to the office 5 days a week in one of the ...
Sources: Sam Altman told OpenAI's staff that the company plans to move away from being controlled by a nonprofit sometime in 2025
RE: https://www.threads.net/... Kali Hays / @kalihays1 : Sam Altman told staff recently that OpenAI will, in fact, move away from its “unusual” corporate structure that makes it te...
Sources: OpenAI's $150B valuation in a $6.5B funding round hinges on whether the company can upend its corporate structure and remove a profit cap for investors
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter …
Sources: Sam Altman told OpenAI's staff that the company plans to move away from being controlled by a nonprofit sometime in 2025
RE: https://www.threads.net/... Kali Hays / @kalihays1 : Sam Altman told staff recently that OpenAI will, in fact, move away from its “unusual” corporate structure that makes it te...
Sources: OpenAI's $150B valuation in a $6.5B funding round hinges on whether the company can upend its corporate structure and remove a profit cap for investors
OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter …