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February 29, 2024, 1:25 AM
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Top News

New York Times:
Sources detail Apple's $10B+ car project: years of disagreements on whether it should be a self-driving car or just an EV, talks with Musk on buying Tesla, more  —  Internal disagreements over the direction of the Apple car led the effort to sputter for years before it was canceled this week.
Mark Gurman / Bloomberg:
Tim Cook says Apple will “break new ground” on generative AI this year; Apple shareholders reject a request for report into whether Apple is using AI ethically  —  - Shareholders approve recommendations for board, executive pay  — Longtime directors Al Gore and James Bell officially step down
Alex Koller / CNBC:
EA plans to cut 5% of its workforce, part of a plan that includes reducing office space and sunsetting some games; EA employed 13,400 workers as of March 2023  —  - EA announced Wednesday that it will cut 5% of its workforce.  — The video game company employed 13,400 workers as of the end …
Reuters:
Coinbase says all services on its website have been restored after an issue on February 28 caused some users to see a zero balance in their accounts  —  Coinbase Global (COIN.O) said on Wednesday that all services on its website have been restored after an issue earlier in the day caused …
Mehtab Ansari / Smartprix:
Alleged renders of Samsung's Galaxy Z Fold 6 show a boxy frame, flat sides, and dimensions that make it slightly shorter and wider than its predecessor  —  The Galaxy Z Fold 6, leaks and rumors about the device have been floating around for a while now and yesterday we reported …
Leo Schwartz / Fortune:
Gemini agrees to return over $1B to customers and pay a $37M fine in a settlement with the New York Department of Financial Services related to Gemini Earn  —  The New York Department of Financial Services on Wednesday announced a settlement with Gemini, the crypto firm founded by the Winklevoss twins …
Ben Lovejoy / 9to5Mac:
Kuo: Vision Pro demand is higher than Apple originally expected, with US shipments expected to hit 200-250k units this year; return rates are now below 1%  —  Analyst Ming-Chi Kuo believes that Vision Pro demand is higher than Apple originally expected, with US shipments expected to hit 200-250k units this year.
Reuters:
FCC Chair Jessica Rosenworcel proposes subjecting carmakers to the Safe Connections Act to protect domestic abuse survivors from misuse of internet car systems  —  The chairwoman of the Federal Communications Commission on Wednesday proposed a potential new rule that would subject automakers …
Kyle Wiggers / TechCrunch:
ServiceNow, Hugging Face, and Nvidia release free code-generating AI models StarCoder2-3B/7B/15B, the first two of which can run on most modern consumer GPUs  —  Developers are adopting AI-powered code generators — services like GitHub Copilot and Amazon CodeWhisperer …
Dara Kerr / NPR:
Salesforce CEO Marc Benioff tells a reporter, who is looking into his Hawaii land acquisition, that he knows where she is staying and her personal details  —  WAIMEA, Hawaii — A life-size bronze statue of a cowboy sits at the center of Waimea.  The cowboy is riding a horse, lasso in hand, pursuing a wild bull.
Jonathan Vanian / CNBC:
Snowflake says that CEO Frank Slootman is retiring, and reports Q4 revenue up 32% YoY to $774.7M and Q1 product revenue guidance below est.; SNOW drops 20%+  —  - Snowflake said CEO Frank Slootman, who took the company public in 2020, is retiring.  — The stock dropped in extended trading.
Jon Swartz / MarketWatch:
Salesforce reports Q4 revenue up 11% YoY to $9.29B, vs. $9.2B est., FY 2025 revenue guidance below est., and announces a $10B increase in its share buyback plan  —  Software giant also announces dividend, share buyback  —  Salesforce Inc.'s stock initially slipped 4% in after-hours trading Wednesday …
Reuters:
Sources: cloud storage service Egnyte has hired underwriters for a US IPO as early as this year that could value it at $3B+; Egnyte was valued at $460M in 2018  —  Cloud storage service Egnyte has hired underwriters for an initial public offering (IPO) in New York that could value it at more than $3 billion …
Kyle Wiggers / TechCrunch:
Adobe unveils Project Music GenAI Control, a platform that can generate audio from text descriptions or a reference melody and let users customize the results  —  There's plenty of GenAI-powered music editing and creation tools out there, but Adobe wants to put its own spin on the concept.
Yiwen Lu / New York Times:
Raw Story, AlterNet, and, in a separate case, The Intercept sue OpenAI in a NY federal court for copyright infringement; The Intercept is also suing Microsoft  —  Raw Story, AlterNet and The Intercept sued for copyright infringement over the way the ChatGPT creator trains its technology.
Karissa Bell / Engadget:
President Biden signs an EO that aims to limit the mass-sale of Americans' personal data like geolocation to “countries of concern”, including China and Russia  —  The bulk sale of geolocation, genomic, financial and health data will be off-limits to “countries of concern.”

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 1:25 AM ET, February 29, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Alex Sherman / CNBC:
Sources: Paramount Global's board is preparing to fire CEO Bob Bakish as soon as Monday, after he lost the trust of controlling shareholder Shari Redstone

Jessica Toonkel / Wall Street Journal:
Sources: Paramount is planning for what happens if no big deal happens, mulling cutting $2B in costs, selling BET and TV stations, starting a streaming JV, more

Elise Morton / Associated Press:
Russia arrests two journalists, Konstantin Gabov and Sergey Karelin, on “extremism” charges for allegedly working for a group founded by the late Alexei Navalny

More News

Hannah Miao / Wall Street Journal:
Webull plans to go public via a SPAC merger with SK Growth Opportunities around September 2024 and expects to raise ~$100M, valuing the online brokerage at $7B+
Financial Times:
Sources: Nigeria detains two senior Binance executives who flew to the country following its decision last week to ban several crypto trading websites
Rachel Metz / Bloomberg:
Toronto-based Ideogram, which is introducing a text-to-image AI model that generates images with legible text, raised an $80M Series A led by a16z
Caitlin Ostroff / Wall Street Journal:
Memo: SBF's lawyers suggest a short sentence of five to six years in prison, citing medical conditions, including autism, and his philanthropic giving

Earlier Picks

The Information:
Sources: Meta plans to launch Llama 3 in July, as the company tries to overcome a perceived problem that Llama 2's answers for contentious topics are too “safe”
Angel Au-Yeung / Wall Street Journal:
Sources: Stripe and some investors agreed to buy $1B+ of current and ex-employees' shares, valuing it at $65B, up from $50B in 2023, but down from $95B in 2021
Financial Times:
A detailed look at the modern chip manufacturing process, involving more than a thousand precisely controlled steps to create a single integrated circuit
Ingrid Lunden / TechCrunch:
Thrasio, which raised $3B+ in equity and debt to acquire third-party Amazon sellers, files for Chapter 11 bankruptcy and secures $90M in emergency funding
Bloomberg:
Sources: Google included a technical fix to reduce bias in Gemini's image generation outputs, but didn't anticipate the overcorrection and wasn't transparent
Anton Shilov / AnandTech:
Samsung launches 36GB 12H HBM3E DRAM for AI, slated for mass production in H1 2024, with 50%+ more peak bandwidth and capacity compared to its previous HBM gen
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