Maria Deutscher
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OpenAI debuts GPT-4 as rival Anthropic rolls out new Claude chatbot
OpenAI LLC today introduced GPT-4, a new large language model that can answer complex questions more accurately than ChatGPT while offering a broader range of customization options. GPT-4 is rolling out alongside Claude, a new chatbot from OpenAI rival Anthropic that also made its debut today. Anthropic, which recently raised $300 million from Google LLC, ...
Meta to let go 10,000 employees in new round of job cuts
Four months after laying off 13% of its workforce, Meta Platforms Inc. today announced plans to let go 10,000 more employees and scrap 5,000 job postings. The layoffs will be carried out in phases. In the first phase, which will begin later this week, Meta plans make job cuts at its recruiting organization. Workforce reductions ...
Tibco rolls out new analytics features across its software portfolio
Tibco today introduced new features for its analytics applications that will help customers more quickly extract insights from their data. Santa Clara, California-based Tibco is a major provider of data analytics software. The company traded on the Nasdaq until 2014, when it was acquired by private equity firm Vista Equity Partners for $4.3 billion. Tibco ...
Microsoft debuts new AI-optimized Azure instances
Microsoft Corp. is extending its Azure cloud platform with the addition of a new instance family designed to run artificial intelligence models. The instance family, known as the ND H100 v5 series, made its debut today. “Delivering on the promise of advanced AI for our customers requires supercomputing infrastructure, services, and expertise to address the ...
Silicon Valley Bank’s UK unit sold to HSBC for £1
The U.K. unit of Silicon Valley Bank has been sold for the symbolic sum of £1 following the financial institution’s closure by regulators. The buyer is London-based bank HSBC plc, which announced the acquisition today. HSBC stated that “the transaction completes immediately.” The sale was brokered by the U.K. government and the Bank of England. ...
Qualtrics to be taken private for $12.5B
Confirming recent reports, Qualtrics International Inc. today announced that it has agreed to be acquired by Silver Lake and CPP Investments for $12.5 billion. The all-cash transaction values Qualtrics at $18.15 per share. That’s 73% higher than the last unaffected closing price of the company’s stock. The deal will be financed with equity funding from ...
UK ends antitrust investigation of Google’s ‘Jedi Blue’ agreement with Meta
The U.K.’s antitrust regulator has ended its investigation into Jedi Blue, a controversial advertising agreement that Google and Meta Platforms Inc. signed in 2018. The Competition and Markets Authority, or CMA, announced the decision today. The CMA also stated that it will continue to review some of the antitrust concerns raised during the probe, but ...
Financial regulators close Silicon Valley Bank
The California Department of Financial Protection and Innovation today closed Silicon Valley Bank, a storied financial institution that counted many venture-backed startups as clients. The move follows a series of developments that cast doubt on the company’s financial stability. On Wednesday, Silicon Valley Bank disclosed that it had taken a $1.8 billion loss on a ...
Shares of tech startup-heavy Silicon Valley Bank plunge 60%+ on stock sale plan
Shares of SVB Financial Group Inc., the parent company of Silicon Valley Bank, plunged more than 60% today after the financial institution announced plans to sell $2.2 billion in stock. The stock sale is part of an effort by the company to address recent losses in its securities portfolio. “We are taking these actions because ...
Alphabet’s Wing previews automated drone delivery system
Alphabet Inc.’s Wing unit today detailed the Wing Delivery Network, a hardware and software system designed to facilitate high-volume drone deliveries. Wing estimates the system will be capable of delivering millions of small packages in the near future. Moreover, the Alphabet unit expects that it will do so at a lower cost than traditional logistics ...