Techmeme
March 9, 2023, 5:40 PM

Top News

Financial Times:
Silicon Valley Bank launches a $2.25B share sale after losing ~$1.8B on its ~$21B portfolio of US Treasuries and mortgage-backed securities; SIVB drops 60%+  —  Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities
More: TechCrunch, Reuters, Wall Street Journal, Pirate Wires, TechCrunch, Bloomberg, SiliconANGLE, The Information, SVB Financial Group, Bloomberg, Axios, Financial Times, Financial Times, Reuters, Silicon Valley Business …, Livemint, The Information, and The Motley Fool
Erin Woo / The Information:
Some VC firms are encouraging their portfolio companies to pull funds out of Silicon Valley Bank while others are advising startups to keep no more than $250K  —  Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” …
Alex Hern / The Guardian:
Meta's Head of WhatsApp, Will Cathcart, says the service would refuse to comply with the UK's Online Safety Bill requirements to remove end-to-end encryption  —  Meta's head of chat app says it would not comply with the requirements set out in online safety bill
Jay Peters / The Verge:
The UK's CMA filings: Microsoft details how Call of Duty games could run on the Nintendo Switch, citing an “optimized” game engine and the success of past ports  —  In a filing (pdf) submitted to the UK's Competition and Markets Authority (CMA), Microsoft shared some details …
Sarah Perez / TechCrunch:
Apple unveils a standalone classical music iPhone app with 5M+ tracks and more, available for pre-order now to Apple Music subscribers and launching on March 28  —  Apple is launching a new music streaming service focused on classical music.  Based on its 2021 acquisition …
CoinDesk:
New York AG files suit against KuCoin, alleging the crypto exchange offers tokens, including ETH, that meet the definition of a security, without registering  —  A press release said the lawsuit was part of ongoing “efforts to crack down on unregistered cryptocurrency platforms.”
Tom Warren / The Verge:
Discord starts testing a ChatGPT-powered version of its Clyde bot and other AI features, such as conversation summaries and tools for moderating servers  —  Discord is now using OpenAI's ChatGPT technology to transform its existing Clyde bot into a talkative chatbot.
Ben Schoon / 9to5Google:
Grammarly announces GrammarlyGO, a generative AI tool that can write and rewrite content in a user's style, coming to all users via a beta program in April 2023  —  Generative AI was made popular by ChatGPT at the end of 2022, and for the first few months of 2023, the floodgates have opened up for the technology.
Yusuf Mehdi / Bing Blogs:
Microsoft says Bing crossed 100M DAUs, driven by the new Bing preview's millions of active users, of which roughly a third are new to the search engine  —  It's hard to believe it's been just over a month since we released the new AI-powered Bing and Edge to the world as your copilot for the web.
Tom Warren / The Verge:
Microsoft makes ChatGPT available in its Azure OpenAI service, letting developers and businesses add the LLM to their apps, priced at $0.002 for 1,000 tokens  —  Microsoft is making ChatGPT available in its own Azure OpenAI service today.  Developers and businesses will now be able …
Nikhilesh De / CoinDesk:
The White House's proposed budget is set to include a provision closing tax loss harvesting on crypto transactions, with the change expected to raise up to $24B  —  The U.S. President is expected to unveil his budget proposal on Thursday.  —  U.S. President Joe Biden's proposed budget …
Sergiu Gatlan / BleepingComputer:
The FBI is investigating a data breach of DC Health Link servers impacting thousands, including US House members and staff; some data is already for sale online  —  The FBI is investigating a data breach affecting U.S. House of Representatives members and staff after their account …

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Christiana Loureiro / The Block: