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Elon Musk’s SpaceX acquired xAI for $250 billion in stock, said a person familiar with the situation. SpaceX was valued at $1 trillion in the deal, another person familiar with the deal said. The news, without the price, was confirmed by Musk in a press release posted to SpaceX’s website ...
SpaceX chief financial officer Bret Johnsen was scheduled to hold a call with investors at 5 pm EST on Monday to discuss the company’s acquisition of xAI, according to a person with direct knowledge. The call comes as some SpaceX investors are concerned about having their shares of the rocket ...
Snowflake has inked a $200 million, multi-year agreement with OpenAI, under which it will incorporate the startup’s AI models in its own application-building service and equip its employees with OpenAI’s business version of ChatGPT. The agreement with Snowflake, which sells a cloud database ...
There are plenty of tech luminaries whose correspondence with Jeffrey Epstein has turned up in the files of the disgraced financier. But few of those exchanges are quite like those that Epstein had with Masha Bucher, who is now a well-known venture capitalist.
On June 25, 2019, 11 days before Epstein was arrested and charged with sex trafficking of minors, he asked Bucher—who was then acting as...
Elon Musk appeared to confirm that SpaceX and xAI are considering a merger in an X post on Monday. Musk responded “yes” to a post from a space-focused investor who quoted a Bloomberg story about SpaceX and xAI being in advanced merger talks. In the post that Musk responded to, the investor Aaron ...
Right now, money and attention is focused on building infrastructure for AI. What’s coming next, though, is AI for infrastructure: using the very same technology to make the power and industrial systems we’re building cheaper, better and faster.Since its founding in 2016, venture investor Blue Bear Capital has allocated about $350 million across 40 startups that boost grid efficiency, increase...
If you’ve been online in the past few days, you’ve likely been bombarded with words like “Moltbook,” “OpenClaw” and “Clawdbot.” We’re here to break down what it means and how it’s giving us a peek into how AI might evolve.OpenClaw is an open-source AI agent released late last year that can write code, edit files and surf the web to complete tasks on behalf of users. (The agent was originally...
Microsoft is in Wall Street’s doghouse. The company’s shares have lagged the S...
Walt Disney Co. reported a sharp drop in profits from its entertainment segment for the December quarter, as lower profits from its TV networks offset better results from its streaming business. Profits from Disney’s sports segment, which includes ESPN, also fell. Overall Disney reported 5% ...
Oracle said Sunday it plans to raise between $45 billion and $50 billion this year through a mix of debt and equity to fund the rapid expansion of its cloud computing business. Oracle said the funds will go toward data center development to serve several large customers including OpenAI, ...