| Ina Fried / Axios: |
OpenAI and Microsoft say they have signed a non-binding memorandum of understanding for the next phase of their partnership, and are working to finalize terms — OpenAI and Microsoft said Thursday they have reached preliminary terms on a revised partnership and are “actively working to finalize” a definitive agreement.| Ashley Capoot / CNBC: |
OpenAI says its nonprofit parent will continue to have oversight over the company and will own an equity stake of more than $100B — OpenAI on Thursday said its nonprofit parent will continue to have oversight over the company and will own an equity stake of more than $100 billion.| Echo Wang / Reuters: |
Sources: Winklevoss twins' Gemini has seen its planned US IPO oversubscribed by 20x; in an unusual move, the IPO proceeds will be capped at $425M — Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has drawn over 20 times as many orders … | Bloomberg: |
Source: crypto exchange Gemini raises $425M in its IPO, selling about 15.2M shares for $28 each after marketing them for $24 to $26 apiece — Gemini Space Station Inc. raised $425 million in an initial public offering, pricing its stock above a marketed range and shrinking the number of shares … | Leah Nylen / Bloomberg: |
The FTC orders Google, OpenAI, Meta and Instagram, Snap, xAI, and Character.AI to provide information on how their AI chatbots impact children and teens — The Federal Trade Commission ordered Alphabet Inc.'s Google, OpenAI Inc., Meta Platforms Inc. and four other makers of artificial intelligence chatbots … | Bloomberg: |
Figure's shares closed up 24% at $31.11 in its Nasdaq debut, giving it a ~$6.6B market cap, after the company and some of its backers raised $787.5M in its IPO — Shares of Figure Technology Solutions Inc. closed 24% above their IPO price after a listing raising $787.5 million … | Blake Brittain / Reuters: |
Encyclopedia Britannica and Merriam-Webster sue Perplexity, alleging that it unlawfully scraped their websites and redirected their traffic to its AI summaries — Perplexity AI is the latest artificial intelligence company to be hit with a lawsuit by copyright holders … | Reuters: |
Albania appoints an AI bot named Diella as the minister responsible for managing and awarding all public procurement tenders to combat corruption — A new minister in Albania charged to handle public procurement will be impervious to bribes, threats, or attempts to curry favour.| The Information: |
OpenAI projects $200B in revenue in 2030, with R&D spending hitting ~45% of that, or ~$90B; R&D costs of Alphabet and others are currently 10%-20% of revenue — The most popular consumer internet services usually figure out how to make money even after a decade or more of losses.| Jordan Novet / CNBC: |
Adobe reports Q3 revenue up 11% YoY to $5.99B, vs. $5.91B est., Digital Media revenue up 12% to $4.46B, and Digital Experience revenue up 9% to $1.48B — Adobe reported fiscal third-quarter results that topped analysts' estimates. The design software maker's shares rose in extended trading.| Natalie Lung / Bloomberg: |
The US DOJ sues Uber, with its civil rights division alleging that Uber discriminates against people with physical disabilities in violation of federal law — Uber Technologies Inc. was sued by the US Justice Department over claims that the ride-sharing giant discriminates against people … | Sarah Perez / TechCrunch: |
Google plans to shut down Tables, a work-tracking tool and competitor to Airtable, in December and directs users to migrate to Google Sheets or AppSheet — Google Tables, a work-tracking tool and competitor to the popular spreadsheet-database hybrid Airtable, is shutting down.| Taylor Soper / GeekWire: |
F5 plans to acquire CalypsoAI, which helps companies secure their generative AI infrastructure, for $180M; CalypsoAI raised $43.2M — Seattle-based security and application delivery giant F5 will pay $180 million to acquire CalypsoAI, a startup founded in 2018 that helps companies secure their generative AI infrastructure.| Bloomberg: |
Vantage Data Centers raised $1.6B from GIC and the Abu Dhabi Investment Authority to expand in APAC, including the acquisition of a Malaysian data center campus — Vantage Data Centers has secured a $1.6 billion investment to help expand its business in the Asia-Pacific region …
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Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
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| Declan Harty / Politico: |
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