Apple Reportedly Ends Work on Electric Car, Moves Staff to AI Unit
Apple is canceling its electric car effort, a decade-long project in which it had invested billions.
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EU Regulators to Scrutinize Microsoft’s $16 million investment in Mistral
Microsoft's investment in Mistral pales in comparison to its $13 billion investment in OpenAI, which is also under regulatory scrutiny.
Swedish Private Equity Firm EQT Closes $23.8 Billion Fund
A small number of top-tier private equity funds are raising more money from global investors while most other funds are struggling amid economic headwinds.
Google Stock Falls 4.5% After Backlash Over AI Chatbot’s Racial Results
Google shares fell by 4.5% Monday after prominent investors in Silicon Valley attacked the company for its artificial intelligence-powered image generator.
Hopin Liquidates U.K. Business, Relocates Headquarters to U.S.
After selling its core video conferencing business, the startup is now focused on livestream creation, video hosting and community management tools.
Citi Poaches JPMorgan Veteran to Be New Banking Boss
Citigroup has poached top JPMorgan Chase investment banker Vis Raghavan as the company’s new head of banking.
Supreme Court Hears Challenges to State Laws Banning Content Moderation
A ruling against the industry would throw tech companies' content moderation strategies into chaos.
Microsoft Strikes Deal with Mistral, OpenAI’s French Open-Source Rival
Microsoft also offers large language models from OpenAI, Cohere, Meta Platforms and other providers through Azure.
KKR Buys Broadcom Unit for $4 Billion
The deal comes as Broadcom looks to siphon off non-core units following its acquisition of VMware
Nvidia GPU Buyers Offload Chips As Supply Crunch Cools
Companies say the wait time for the specialized AI chips has dropped.
Nvidia Market Cap Briefly Tops $2 Trillion
The stock has rallied more than 200% in the past year.
Google Apologizes After Controversy Over AI Image Feature
Senior vice president Prabhakar Raghavan apologized following backlash to an AI feature that generated ahistorical images, including racially diverse Nazis.
PDD Shares Fall After Report of Lawmakers’ Calls for Temu Shipment Ban
Lawmakers are pushing for Temu to be named as a violator of the Uyghur Forced Labor Prevention Act.
Jamie Dimon Sells $150 Million of JPMorgan Stock
It is the chief executive’s first sale of the bank’s stock during his 18-year reign atop the institution.
Bankrupt Crypto Exchange FTX Allowed To Sell Anthropic Stake
FTX filed a request to sell its Anthropic stake earlier this month.
Warner Bros. Discovery Q4 Revenue Fell 7% Driven by Plummeting TV Ad Sales
The company, which owns the Max streaming service, eked out a slight profit in its streaming business in 2023.
Nextdoor Appoints Co-Founder Tolia as CEO, Replacing Friar
Tolia served as CEO from 2010 to 2018, and had remained on the board of directors.
Binance Blocked From Nigeria in Crypto Trading Crackdown
Many Nigerians had turned to crypto currencies as an alternative to big swings in the country's official currency.
Vice Media to Cease Publishing Operations, Lay Off Hundreds
Vice, which peaked at a $5.7 billion valuation, will stop publishing to Vice.com. It will continue operating its production studio and ad agency.
Google Restricts Gemini Image Feature After Backlash
The image-generating feature launched earlier this month.
Weekday mornings
The Information AM by The Information Staff
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