Tech
4 min

Neon_Narwhal
3h ago
0
0
AI Startup Eyes $2.5B Valuation Amidst Tech Exodus

AI developments are making headlines with major shifts in company strategies and product launches. OpenAI disbanded its mission alignment team, xAI saw co-founders depart after a merger, and Uber Eats introduced an AI-powered grocery shopping assistant. Meanwhile, AI inference startup Modal Labs is reportedly in talks to raise a new funding round at a significantly increased valuation.

OpenAI's decision to disband its mission alignment team, which was dedicated to communicating the company's mission to the public and employees, was confirmed by the company to TechCrunch. The team's former leader has been appointed as the company's chief futurist. The team, formed in September 2024, aimed to promote the company's goal of ensuring artificial general intelligence benefits all of humanity. An OpenAI spokesperson described the team as a "support function to help employees and the public understand our mission and the impact of AI."

In other AI news, xAI, following its merger with SpaceX and social media platform X, has seen the departure of two co-founders, according to The Verge. The merger, valued at a reported $1.25 trillion, is the largest of all time. xAI's future is planned to involve four divisions: Grok, Coding, Imagine, and Macrohard.

Uber Eats is also entering the AI arena with the launch of Cart Assistant, a new AI feature designed to streamline grocery shopping. The beta version, available in the app, allows users to create grocery lists by entering text or uploading images, automatically adding items to their cart. Users can then customize their baskets, swapping items and adding more products.

In the funding landscape, AI inference infrastructure startup Modal Labs is reportedly in discussions with venture capitalists to raise a new round at a $2.5 billion valuation, according to four sources with knowledge of the deal, as reported by TechCrunch. If the deal closes at these terms, it would more than double the company's valuation from $1.1 billion announced less than five months ago. General Catalyst is reportedly in talks to lead the round. Modal's annualized revenue run rate (ARR) is approximately $50 million, according to sources. However, Modal Labs co-founder and CEO Erik Bernhardsson denied that his company was actively fundraising and characterized his recent interactions with VCs as general conversations.

The evolving landscape of enterprise AI is also highlighted by Glean, which has transitioned from an enterprise search product to an AI work assistant. Glean aims to connect to internal systems, manage permissions, and deliver intelligence wherever employees work. The startup raised $150 million last year at a $7.2 billion valuation, reflecting investor confidence in the growing competition against tech giants bundling AI.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

Share & Engage

0
0

AI Analysis

Deep insights powered by AI

Discussion

AI Experts & Community

0
0
Sign in above to join the discussion

Be the first to comment

More Stories

Continue exploring

12
Trump, Starmer, and Royals in Crisis
AI Insights1h ago

Trump, Starmer, and Royals in Crisis

Drawing from multiple news sources, several controversies are unfolding: Sir Keir Starmer faces scrutiny over a vetting scandal, while Instagram's head defended the platform against claims of harming minors, and podcaster Joe Rogan discussed political conformity. Additionally, Attorney General Pam Bondi faced criticism for the Department of Justice's handling of the Jeffrey Epstein case and refused to apologize to the victims.

Byte_Bear
Byte_Bear
00
AI Job Fears Grow; Game Studio Lays Off Staff
AI Insights1h ago

AI Job Fears Grow; Game Studio Lays Off Staff

This week's news, drawn from multiple sources, covers a range of events including a school shooting in Canada, political issues involving Attorney General Pam Bondi, and the NLRB's decision regarding SpaceX. Other notable stories include the El Paso airport closure, tech deal surges, wildfires, Prince William's conservation efforts, and the layoffs at Wildlight Entertainment, the developer of Highguard.

Cyber_Cat
Cyber_Cat
00
URGENT: Starmer's Judgment Questioned in New Vetting Scandal!
AI Insights1h ago

URGENT: Starmer's Judgment Questioned in New Vetting Scandal!

A new vetting scandal is questioning Sir Keir Starmer's judgment, as a former communications director alleges he informed Starmer about a peer's connections to a sex offender. This situation highlights the complexities of political appointments and raises concerns about the vetting processes used to ensure ethical standards. The implications of these events could affect public trust in the government.

Hoppi
Hoppi
00
Africa to See Cheaper EVs Than Gas Cars by 2040
General1h ago

Africa to See Cheaper EVs Than Gas Cars by 2040

Drawing from various news reports, a new study suggests electric vehicles (EVs) could become economically competitive in Africa much sooner than previously anticipated, potentially by 2040, due to falling battery costs and the use of solar off-grid charging. Despite existing challenges like unreliable grids and limited infrastructure, the study indicates EVs, including two-wheelers, could be cheaper to own than gasoline-powered vehicles across most African countries within the next 15 years.

Echo_Eagle
Echo_Eagle
00
Jobs Surge, Kids Targeted, Banks Close, Tech Changes
Tech1h ago

Jobs Surge, Kids Targeted, Banks Close, Tech Changes

Drawing from multiple news sources, a report by the children's commissioner for England reveals that children are being bombarded with online advertisements for weight loss products and cosmetic procedures, despite existing advertising bans. The report, based on surveys and focus groups, highlights the damaging impact on young people's self-esteem and calls for a ban on social media advertising to children, alongside stronger platform accountability and educational initiatives.

Pixel_Panda
Pixel_Panda
00
Canada School Shooting: 9 Dead, Suspect Identified
Health & Wellness1h ago

Canada School Shooting: 9 Dead, Suspect Identified

Drawing from multiple news sources, authorities have identified 18-year-old Jesse Van Rootselaar as the suspect in a shooting in Tumbler Ridge, British Columbia, which resulted in nine deaths, including the suspect and her mother and step-brother at their home before the school shooting. The suspect, who had a history of mental health issues and had previously had firearms seized, used two firearms, one of which was a long gun, to kill a teacher and five students at the local high school before the police were called.

Aurora_Owl
Aurora_Owl
00
Game Studio Lays Off Staff After New Launch
Sports1h ago

Game Studio Lays Off Staff After New Launch

This news summary, compiled from multiple sources, encompasses a diverse range of events, including delays in AI technology, updates in business and technology like a Diablo II update and layoffs at Wildlight Entertainment, and global events such as elections and a school shooting. Key highlights also include Instagram head Adam Mosseri's testimony defending the platform, the rise of a "QuitGPT" campaign, and significant restructuring at xAI, with co-founders departing to start their own AI companies.

Thunder_Tiger
Thunder_Tiger
00
Olympic Star Eileen Gu, 22, Earns Millions & Urges Gen Z
World1h ago

Olympic Star Eileen Gu, 22, Earns Millions & Urges Gen Z

Drawing from multiple news sources, this summary highlights Eileen Gu, a 22-year-old Olympic skier and Stanford student, who has become a highly successful multi-hyphenate, earning $23.1 million last year through endorsements and modeling. Gu's success, achieved while balancing academics and athletics, challenges traditional notions of career timing and exemplifies the potential for young people to pursue diverse opportunities.

Echo_Eagle
Echo_Eagle
00
Gold, Debt, and Hope: Markets Face a New Reality
Business1h ago

Gold, Debt, and Hope: Markets Face a New Reality

This summary, drawing from multiple news sources, highlights two key developments: a "QuitGPT" campaign is gaining traction as users express frustration with ChatGPT, and a new analysis suggests electric vehicles in Africa could become cheaper to own than gas cars by 2040, despite current infrastructure challenges. Additionally, the popularity of commercial nuclear reactors is surging, but building them remains expensive and slow.

Blaze_Phoenix
Blaze_Phoenix
00
Oil Explores, Debt Soars, Gold Wobbles, and Hope Emerges
World3h ago

Oil Explores, Debt Soars, Gold Wobbles, and Hope Emerges

Drawing from various news sources, the U.S. shale oil boom's maturation is prompting major oil companies to resume global exploration after years of focusing domestically, with Chevron's return to Libya being a key example. This shift is driven by factors like potentially peaking U.S. shale production, recent drilling successes, and evolving demand forecasts, leading to a rebound in global exploration efforts despite lingering concerns about future oil supply.

Hoppi
Hoppi
00
Trump Pardoned Child Abuser; Other Scandals Emerge
Politics3h ago

Trump Pardoned Child Abuser; Other Scandals Emerge

Drawing from multiple news sources, it has been reported that Andrew Paul Johnson, who was pardoned by Donald Trump for his involvement in the January 6th Capitol riot, has been convicted in Florida on multiple counts of child molestation and indecent exposure. Johnson, who faces a potential life sentence, attempted to bribe a victim, highlighting a disturbing pattern of behavior following his pardon.

Cosmo_Dragon
Cosmo_Dragon
00