Amazon Developing ‘Olympus’ AI to Narrow Gap with Microsoft, OpenAI
In the race to develop large language models for businesses, Amazon is considered a laggard behind OpenAI, Google and others.
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Tesla Faces New Pressure in Sweden Over Union Contract
Tesla has avoided unions despite their popularity in auto manufacturing.
Coatue’s 2021 Growth Fund Has Lost Money on Paper
Coatue also marked down its stake in OpenSea 90%, implying that the former crypto darling is now valued at $1.4 billion.
Microsoft Offers Nvidia AI Chips to Y Combinator-Backed Startups
The GPU servers, made by Nvidia, have been hard to come by in the past year.
TikTok Hires Disney Exec to Run Media Relations Team in Comms Reorg
TikTok’s communications chief Zenia Mucha is shaking up its communications team, less than five months after joining in June.
Shein Targets Up to $90 Billion Valuation in U.S. IPO
The potential valuation is a steep increase from the fast-fashion giant’s last funding round.
Uber’s Free Cash Flow More Than Doubles as Bookings Growth Picks Up
Uber's bookings growth has picked up after slowing in recent quarters.
WeWork Files For Bankruptcy Protection in Federal Court
Company also seeks to restructure its secured notes and get out of some of its office leases
OpenAI Cuts Prices, Gives Customers Copyright Protections
The company's announcements up the ante with rivals such as Anthropic, and they could hurt several other startups.
Klarna Reports First Operating Profit Since 2019
The buy now, pay later firm posted a $12 million operating profit during the third quarter.
Index Ventures Offers Millions to Creators of a Key Open-Source AI Model
The startup received investor interest to raise at around $100 million valuation prior to incorporating.
Palo Alto Networks Says It Will Acquire Talon Cyber Security
The deal is the latest in a string of acquisitions by Palo Alto Networks.
Slack CEO Becomes Bumble CEO as Founder Steps Aside
Slack CEO to join, plans to incorporate more AI capabilities
Disney Hires PepsiCo Executive as New Finance Chief
Hugh Johnston, a longtime PepsiCo executive, will join Disney on December 4. Disney's interim CFO Kevin Lansberry will return to his previous role.
Chinese AI Startup Founded by Kai-Fu Lee Valued at $1 Billion
The startup, whose backers include Alibaba's cloud computing unit, is competing in China's crowded market for conversational AI software.
Musk’s xAI Demos Grok AI Assistant
The chatbot will eventually be available to premium subscribers on X.com, Musk said.
TikTok Denies Claims of Favoring Pro-Palestinian Content
The company said that it had removed over 925,000 videos for violating its content policies since the Israel-Hamas war started, “including content promoting Hamas.”
YC’s Garry Tan Presses FTC Chair To Address ‘Little Tech’s’ Antitrust Concerns
Y Combinator CEO Garry Tan told Federal Trade Commission Chair Lina Khan that startups need a “fair playing field” when it comes to tech giants.
Netflix Considers Livestreaming Jake Paul Boxing Match
Netflix is considering livestreaming a boxing match.
Weekday mornings
The Information AM by The Information Staff
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