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The new AI deal: buy everything but the company

Economic Times

Economic Times · 1y ago

The new AI deal: buy everything but the company

Noam Shazeer and Daniel De Freitas, former Google AI developers, left the company to start their chatbot startup, Character.AI. After raising nearly $200 million, they recently announced their return to Google through a deal that allows Google to license their technology for $3 billion. This deal structure, where big tech companies license AI technology and hire top employees without acquiring the startups, has emerged as a way to avoid regulatory scrutiny. Microsoft and Amazon have also engaged in similar licensing deals. However, these deals have left behind orphaned companies and raised concerns among investors and entrepreneurs about the alignment of founders, employees, and investors.

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Reddit is going public and inviting power users to invest

The Verge

The Verge · 1y ago

Reddit is going public and inviting power users to invest

Reddit has filed its S-1 registration statement with the SEC, revealing its financials ahead of its anticipated IPO on the NYSE. The company reported $804 million in revenue in 2023, mostly from advertising, but also had a net loss of $90.8 million. Reddit plans to offer its top users, including moderators and high karma score holders, the opportunity to buy shares in the IPO. It also unveiled a data licensing and model training monetization strategy and announced an AI training data deal with Google.

DMI Group acquires BNPL startup ZestMoney in a fire sale deal

Money Control

Money Control · 1y ago

DMI Group acquires BNPL startup ZestMoney in a fire sale deal

NBFC DMI Finance has acquired Buy Now Pay Later startup ZestMoney in a fire sale deal. The move strengthens DMI Group's commitment to customer-centric financial solutions and opens up new possibilities for seamless checkout finance tools. The Walmart-backed fintech decacorn PhonePe was previously in talks to acquire ZestMoney, but backed out due to issues with due diligence. ZestMoney faced difficulties without PhonePe's involvement, leading to layoffs and eventual shutdown. However, DMI Finance has assured that all existing employees will remain with the company.

Sam Altman may have found a loophole to cash in at OpenAI

Gizmodo

Gizmodo · 1y ago

Sam Altman may have found a loophole to cash in at OpenAI

According to new reporting from Wired, it has been revealed that Sam Altman, the former CEO of OpenAI, would have profited from the company's deal to purchase AI chips. Altman reportedly has no equity in OpenAI but had personally invested in a startup called Rain AI, which has a deal with OpenAI for advanced chips. The connection between Altman's private investments and OpenAI's business may have played a role in his recent firing from the company. The reasons behind Altman's firing, however, remain unclear.

RIL may pay $2.3 bn for 60% stake in Disney India assets

Livemint

Livemint · 1y ago

RIL may pay $2.3 bn for 60% stake in Disney India assets

Reliance Industries Ltd (RIL) is set to acquire a 60% stake in Disney Star's linear TV and digital businesses in India for $2.28-2.4 billion, valuing them at $3.8-4 billion. The deal involves the transfer of Indian TV and digital assets to a new company, in which RIL will buy the majority stake. The transaction excludes Disney Star's stake in Tata Play, consumer products business, and ILM. The plan includes merging Viacom18, in which Reliance owns a majority stake, with the new Disney Star entity. The deal is expected to be announced soon.

CLSA, HSBC raise target price on Dixon Technologies following HP India deal, see 12% upside

Money Control

Money Control · 11m ago

CLSA, HSBC raise target price on Dixon Technologies following HP India deal, see 12% upside

Dixon Technologies, an electronics manufacturing firm, has received positive ratings from international brokerages following its subsidiary Padget Electronics' deal with HP India. CLSA and HSBC both see strong growth potential in Dixon Technologies, with CLSA maintaining a "hold" rating but raising its target price. HSBC reiterated its "buy" rating, noting the value accretive nature of the deal with HP. Over the past year, Dixon Technologies' shares have jumped 140 percent, outperforming the Nifty 50 index. The company aims to capture a significant portion of India's IT hardware manufacturing market.

Microsoft CEO Satya Nadella can be questioned in gamers' Activision deal lawsuit

Economic Times

Economic Times · 1y ago

Microsoft CEO Satya Nadella can be questioned in gamers' Activision deal lawsuit

Microsoft CEO Satya Nadella may be questioned in a lawsuit regarding the company's acquisition of gaming company Activision. The lawsuit alleges that Microsoft's $70 billion deal to buy Activision was done to benefit insiders and that it undervalued the company. Nadella's involvement in the deal may be examined during the legal proceedings.

CCI approves Delhivery's acquisition of Ecom Express

Economic Times

Economic Times · 2m ago

CCI approves Delhivery's acquisition of Ecom Express

The Competition Commission of India (CCI) has approved Delhivery's acquisition of Ecom Express for Rs 1,407 crore. Delhivery, a new-age logistics firm, announced the cut-price deal in April to buy its rival Ecom Express.

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Hindustan Times

Hindustan Times · 1y ago

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Apoorva Mehta went from being an engineer at Amazon to becoming a billionaire at age 37, thanks to his innovative business idea. In 2012, Mehta founded Instacart, a platform for grocery delivery that now serves over 7.7 million customers and partners with more than 80,000 retailers in the US. The inspiration for Instacart came to Mehta when he realized that he could buy everything online except groceries. The company recently went public with an IPO valuation of $9.9 billion.

After relaunching as a studio for creators, LimeWire acquires BlueWillow, a Midjourney competitor

TechCrunch · 1y ago

After relaunching as a studio for creators, LimeWire acquires BlueWillow, a Midjourney competitor

LimeWire, the once controversial music piracy platform, has acquired BlueWillow, a generative AI image creation platform. BlueWillow, which claims to be the second-largest AI image generating community on Discord, will continue to operate on the platform but will also integrate its functionality into LimeWire's website. LimeWire aims to expand its content creation services and develop more media services in the future. The financial terms of the deal have not been disclosed, but BlueWillow's talent will not be included in the acquisition. The BlueWillow team plans to depart to work on a new AI venture.

Wipro wins deal to design Intel’s latest chips

Livemint

Livemint · 1y ago

Wipro wins deal to design Intel’s latest chips

Indian IT services company, Wipro, has announced a new deal with Intel Foundry, the chip development division of US chipmaker Intel. Under the deal, Wipro engineers will work on Intel's latest '18A' chip node, which will be used in cutting-edge consumer electronics devices. While the exact size of the deal was not disclosed, it is expected to be one of Wipro's largest deal signings in the past three years. The partnership with Intel Foundry is part of Wipro's plan to become a part of the semiconductor industry and target new markets, particularly in the generative AI space.

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