Articles from www.bloomberg.com

Articles from www.bloomberg.com

A US judge rules in favor of X in a lawsuit alleging X owes $500M+ in severance pay to ~6,000 laid-off staff, saying the claims were not covered under ERISA (www.bloomberg.com)
2024-7-10

A look at the rise of algorithmic trading in currency markets: ~50% of hedge funds are using the tech for FX trading in 2024, up from 22% before the pandemic (www.bloomberg.com)
2024-7-10

Google says it has stopped purchasing carbon offsets and is no longer maintaining operational carbon neutrality, but still aims to reach net-zero carbon by 2030 (www.bloomberg.com)
2024-7-10 Google

A group of investors led by Vista Equity Partners has agreed to acquire a majority stake in Nasuni, valuing the hybrid cloud storage provider at ~$1.2B (www.bloomberg.com)
2024-7-10 Equity

Captions, which uses AI to let people create and edit videos, raised $60M led by Index Ventures at a $500M valuation, taking its total funding to $100M (www.bloomberg.com)
2024-7-9 AI

Meta plans to remove more Facebook and Instagram posts that attack “Zionism” or threaten “Zionists” when the term is conflated with Jewish people or Israelis (www.bloomberg.com)
2024-7-9 Facebook Instagram

IDC: ~3% of PCs shipped in 2024 meet Microsoft's processing power threshold for “AI PCs”; source: some big app makers rebuff a push for on-device AI features (www.bloomberg.com)
2024-7-9 Microsoft AI

New York-based Hebbia, which uses AI to help companies sift through documents, raised $130M led by a16z, a source says at a ~$700M post-money valuation (www.bloomberg.com)
2024-7-8 AI New York

Internal memo: Microsoft tells staff in China that from September 2024 they can only use iPhones for work, including to verify identities, affecting hundreds (www.bloomberg.com)
2024-7-8 China Microsoft

Sources: Apple Watch Series 10 will be thinner and have bigger screens; main Siri upgrade will be part of iOS 18.4, with a dev beta in Jan. and a spring release (www.bloomberg.com)
2024-7-8 IOS Apple

DefiLlama: the value of assets locked on the TON blockchain, which is used by Telegram, surged 1,400% this year to briefly top $1B (www.bloomberg.com)
2024-7-7 Blockchain Asset

Final Fantasy creator Hironobu Sakaguchi talks about reuniting with Square Enix to bring his company Mistwalker's Apple Arcade RPG Fantasian to PC and consoles (www.bloomberg.com)
2024-7-7 Apple

French AI research lab Kyutai, which launched in November with €300M in funding and is backed by billionaire Xavier Niel, demos its AI voice assistant Moshi (www.bloomberg.com)
2024-7-6 France AI

TRM: cryptocurrency stolen through hacks more than doubled to $1.38N in H1 2024 from a year earlier; five large attacks accounted for 70% of the crypto stolen (www.bloomberg.com)
2024-7-5 Cryptocurrency

South Korea unveils a monitoring system to find crypto exchange accounts linked to “suspected” trading activity, as a new law takes effect on July 19 (www.bloomberg.com)
2024-7-5 Korea

Microsoft-owned Mojang is exploring deals in areas like merchandising, education, and streaming, on top of movies and TV series, as gaming sector growth slows (www.bloomberg.com)
2024-7-5 Microsoft Education

Sources: the EU plans to issue a final warning to X over its failure to combat dangerous content under the DSA; X faces fines of 6% of its global revenue (www.bloomberg.com)
2024-7-5

A look at the inaugural Esports World Cup, a multi-genre tournament in Riyadh funded by Saudi Arabia, featuring 1,500+ gamers and a record $60M+ prize pool (www.bloomberg.com)
2024-7-4 Arabia Saudi Arabia

AWS partners with the Australian government to build a secure cloud data system for top secret information; the government will invest $1.3B over 10 years (www.bloomberg.com)
2024-7-4 Australia

Alphabet winds down agriculture startup Mineral, which became an independent subsidiary in 2023, and is licensing some of its tech to berry producer Driscoll's (www.bloomberg.com)
2024-7-3 Startup Alphabet

CDK Global, a software provider to ~15K North American car dealerships, says “substantially all” of its dealers are back online, after two cyberattacks in June (www.bloomberg.com)
2024-7-3 U.S.

UK-listed Keywords Studios, which provides game development, audio, and art services to clients such as Epic, agrees to a ~£2.1B takeover bid from PE firm EQT (www.bloomberg.com)
2024-7-3

Sources: Apple will get an observer role on OpenAI's board, with Phil Schiller chosen for the position, as part of their partnership announced last month (www.bloomberg.com)
2024-7-3 Apple

A look at the national security fears around Microsoft's deal with Abu Dhabi's G42, including US DOD's skepticism that G42 will entirely uncouple from China (www.bloomberg.com)
2024-7-2 China Microsoft

The Biden administration awards $504M in funding for 12 regional tech hubs, including in New York and Florida, to expand research in AI, chip making, and more (www.bloomberg.com)
2024-7-2 AI New York

Revolut's 2023 revenue almost doubled to £1.8B, after interest income grew to £500M from £83M in 2022; auditor BDO gave its accounts a clean bill of health (www.bloomberg.com)
2024-7-2

China plans to form a technical committee to develop standards for brain-computer interfaces, including a standard for brain information encoding and decoding (www.bloomberg.com)
2024-7-2 China

Sources: Northern Data is weighing a US IPO of its combined AI cloud computing and data center businesses at a valuation of up to $16B as early as in H1 2025 (www.bloomberg.com)
2024-7-2 IPO AI

Singapore is emerging as a destination for Chinese AI startups due to less stringent AI regulations and access to Nvidia's latest chips amid US chips ban (www.bloomberg.com)
2024-7-1 China Startup AI Singapore Ban Nvidia

Government data: the value of South Korea's chip shipments reached $13.4B in June, up 51% YoY; exports of display products up 26% YoY and computers up 59% YoY (www.bloomberg.com)
2024-7-1 Korea

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