Magic, a U.S.-based startup specializing in artificial intelligence models for software development, is in negotiations to secure over $200 million in a new funding round, potentially valuing the company at $1.5 billion, according to sources. The startup, which has approximately 20 employees, was previously valued at $500 million following a fundraising round in February. Since…
GENEVA – China has emerged as the global leader in generative AI patents, filing six times more than the United States, according to a United Nations report released on Wednesday. Generative AI, which creates text, images, computer code, and music from existing data, has seen a surge in innovation. Over the past decade, more than…
WASHINGTON – The U.S. Supreme Court on Tuesday declined to hear a Texas teenager’s appeal to revive his lawsuit against Snap Inc. (SNAP.N), the owner of Snapchat, over allegations that the platform failed to protect underage users from sexual predators. The plaintiff, a minor at the time the lawsuit was filed, accused Snapchat of negligence…
Meta Platforms (META.O) announced on Tuesday that it will lift its blanket ban on the word “shaheed,” meaning “martyr” in English. This decision follows a year-long review by its oversight board, which found the company’s approach to be overly broad. Meta has faced longstanding criticism for its handling of content related to the Middle East….
OpenAI has announced a delay in the release of its anticipated “Voice Mode” feature for ChatGPT, pushing the launch from late June to July due to technical issues. Originally slated for a limited release to ChatGPT Plus users in June, the company cited the need for additional time to meet its launch standards. “We are…
ZURICH – The head of UBS’s domestic business, Sabine Keller-Busse, revealed that artificial intelligence (AI) is transforming how clients interact with their bankers. During the Point Zero Forum in Zurich, Keller-Busse compared this shift to patients visiting doctors with preconceived notions about their ailments, noting that clients are now using AI to generate ideas before…
Micron Technology reported higher-than-expected third-quarter revenue on Wednesday, driven by strong demand for its memory chips amid the AI boom. However, its forecast for the current quarter did not meet investors’ elevated expectations, causing a 7.2% drop in its stock price during extended trading. Despite a 13% rise in Micron’s shares this month, fueled by…
Google announced on Monday that it will require advertisers to disclose when their election ads contain digitally altered content depicting real or realistic-looking people or events. This measure aims to combat misinformation during elections. The updated policy mandates that advertisers check a box in the “altered or synthetic content” section of their campaign settings. With…
SoftBank Group Corp’s Vision Fund 2 is set to invest between $10 million and $20 million in U.S.-based search startup Perplexity AI, valuing the company at $3 billion. The investment from SoftBank is part of a larger $250 million funding round for Perplexity AI, as cited by individuals familiar with the matter. The terms of…
NEW YORK – A surge in U.S. stock prices driven by excitement over artificial intelligence is drawing comparisons to the dotcom bubble of the late 1990s, sparking concerns that the market may be overinflated by enthusiasm for revolutionary technology. The rise of AI, combined with a resilient economy and stronger corporate earnings, has pushed the…
