Laura Mandaro

1 month ago | theinformation.com | Laura Mandaro

Source: The InformationOpenAI said Monday it was opening an office in Seoul, its third office in Asia after Tokyo and Singapore. In a LinkedIn post, chief strategy officer Jason Kwon said weekly users of its ChatGPT have grown 4.5 times in South Korea over the last year. The country has more paid subscribers to the chatbot than any other country except the U.S., he said.

1 month ago | theinformation.com | Laura Mandaro

Source: The InformationGeneral Atlantic, a New York investment firm that backs mid-stage startups such as artificial intelligence startup Runway, last year distributed $3.9 billion to its limited partners, the lowest amount in five years, and 40% of its target, The Information reported Tuesday. The disclosure underlines how the stalled market for initial public offerings has made it tough for venture investors to return cash to their backers.

1 month ago | theinformation.com | Laura Mandaro

Source: The InformationInstacart said Thursday that revenue rose 9% to $897 million in the first quarter, boosted by higher orders and an acceleration in ad sales. The delivery company said gross transaction value for the first three months of the year rose 10% to $9.1 billion, slightly higher than the median of its own forecast, as customers placed more orders but spent less per order. The number of orders rose 14%, the fastest growth in 10 quarters.

2 months ago | theinformation.com | Laura Mandaro

Source: BloombergElon Musk’s XAI Holdings, formed from merging his xAI startup with social media company X, is in talks to raise $20 billion, Bloomberg News reported. The new investment could value the combined company at $120 billion, the report said. The giant round could be used to pay down some of the debt that X, then called Twitter, took on when Musk took it private in a leveraged buyout three years ago.

2 months ago | theinformation.com | Laura Mandaro

Source: ABC President Donald Trump on Sunday indicated more tariff hikes were coming for semiconductors and other electronics items following an announcement late Friday that many would be exempt from recently announced tariff increases. “There was no Tariff “exception” announced on Friday,” Trump wrote on the social network Truth Social.