investing - CybAI news

15 Aug

Cisco Gives Upbeat Sales Forecast Even as It Cuts Jobs

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Cisco Systems Inc., the biggest maker of computer networking equipment, gave a bullish revenue forecast for the current period thanks to a rebound in orders, but announced plans to cut thousands of jobs as part of a strategy shift. Sales will be $13.65 billion to $13.85 billion in the fiscal first quarter, which ends in October, the company said in a statementBloomberg Terminal Wednesday. Analysts had estimated a number at the very low end of that range. Source link lol

13 Aug

AI-Focused VC Radical Ventures Nears $800 Million Fundraise

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Radical Ventures, a Canadian venture capital firm that made early bets on a string of hot artificial intelligence startups, has secured nearly $800 million in commitments for a new fund, according to people familiar with the plans.The firm is currently nearing the close of the new fund, which will boost its assets under management to about $1.8 billion, said the people, who asked not to be identified discussing private information. Source link lol

09 Aug

Khosla Ventures Backs AI Startup DevRev at $1.15 Billion Valuation

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DevRev Inc., a startup using artificial intelligence for customer support and other tasks, raised $100 million from Khosla Ventures and other investors in round that valued the company at $1.15 billion.Co-founded in 2020 by Chief Executive Officer Dheeraj Pandey, who also helped start Nutanix Inc., DevRev says its offerings use AI to improve the efficiency of employees on support, product and engineering teams. Source link lol

09 Aug

Buffett’s Apple Share Dump Is Set to Reshape Major Stock Gauges

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Warren Buffett’s sudden sale of a huge pile of Apple Inc. shares has come with a surprise silver lining for investors in the iPhone maker: Its influence in major stock indexes is set to be fully unleashed.Apple’s weighting in a slew of benchmarks has been depressed for years because Buffett’s Berkshire Hathaway Inc. tends to hold its investments for the long run, making them unavailable for trading. As a result, index providers calculated the tech company’s weight based on a methodology known as float-adjusted market capitalization. Source link lol

09 Aug

ClearBank Wins License Allowing Fintech to Expand Across Europe

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ClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step toward global expansion. The European Central Bank authorized the permit, under the supervision of De Nederlandsche Bank, ClearBank said in a statement Friday. The license allows the financial-technology firm to offer European clients with euro accounts, foreign-exchange services, embedded banking and access to major European payment rails, and funds will be protected by the central bank’s deposit-guarantee rules. Source link lol

08 Aug

Move Over, LLMs. Small AI Models Are the Next Big Thing

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For years, tech giants like Google and startups such as OpenAI have been racing to build ever bigger and costlier artificial intelligence models using a tremendous amount of online data. Deployed in chatbots like ChatGPT, this technology can handle a wide range of complex queries, from writing code and planning trips to drafting Shakespearean sonnets about ice cream.Mark McQuade is betting on a different strategy. Arcee.AI, the startup he co-founded last year, helps companies train and roll out an increasingly popular — and much tinier — approach to AI: small language models. Rather than try to do everything ChatGPT can,…

08 Aug

Weapons Startup Anduril Hits $14 Billion Valuation in New Funding Round

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Defense technology startup Anduril Industries Inc. has raised $1.5 billion in a new funding round and plans to spend hundreds of millions on a new facility to manufacture its rockets, underwater vehicles and other autonomous weapons systems at greater scale and speed.The deal, which values Anduril at $14 billion, is one of the largest venture capital financings of the year so far, and reflects the company’s success getting government contracts, as well as rising investor enthusiasm for defense technology companies. Source link lol

07 Aug

Reddit Sales Exceed Analysts’ Expectations on Advertising Growth

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Reddit Inc. said it expects steady revenue growth from new data licensing partnerships and advertising technology, charting its path forward as a newly public company.Current-quarter sales will be $290 million to $310 million, Reddit said Tuesday in a statement. Analysts had forecast $281.8 million, according the average of estimates compiled by Bloomberg. Source link lol

06 Aug

OpenAI Co-Founders Schulman and Brockman Step Back

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Greg Brockman, the president of OpenAI and a central figure at the company, said he is is going on leave until the end of the year. At the same time, researcher John Schulman is leaving for rival artificial intelligence startup Anthropic. Both men are OpenAI co-founders, and their moves mark a shift at the company following already significant management churn this year. Source link lol

30 Jul

Google’s Anthropic AI Deal Gets Closer UK Regulator Scrutiny

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Google’s partnership with US startup Anthropic will get deeper scrutiny from the UK’s antitrust watchdog, adding to the growing number of probes into the wave of big tech investment in artificial intelligence. The Competition and Markets Authority said Tuesday it was gathering information from market players to determine whether the Alphabet Inc. unit’s tie up qualifies as a merger and harms UK competition. Source link lol