startup

OpenAI CEO Sam Altman is reportedly backing an AI startup named Alfred. The startup, led by former employees of Tesla Inc. (NASDAQ:TSLA) and Meta Platforms (NASDAQ:META), is also receiving financial backing from Khosla Ventures, SV Angel, and Chapter One, among others, reported Business...

OpenAI is reportedly planning to set up its permanent office in London, aiming to make the city its largest research hub outside the U.S. The San Francisco-based firm told Reuters on Monday that it would start the office in 2027. The 88,500 square foot location, situated at Regent Quarter, will...

Tom Sosnoff is a name that needs little introduction. A seasoned entrepreneur with notable exits, he still approaches new ventures with the same urgency and curiosity as in his early days. Despite eventually becoming a big success, he admits that his first venture, thinkorswim, was far from user-...

While much of the global conversation around artificial intelligence funding focuses on Silicon Valley mega cheques, a parallel and far more capital-efficient ecosystem is scaling quietly in China. At its center is XbotPark and Shenzhen InnoX, an incubation platform that has helped build AI,...

JPMorgan Chase & Co. is trying to avoid a staggering $115 million legal bill linked to two convicted fraudsters who deceived the bank, causing a loss of $175 million. In a court filing on Friday, JPMorgan contested a prior ruling that required it to cover the legal costs of its former business...

JPMorgan Chase & Co. is trying to avoid a staggering $115 million legal bill linked to two convicted fraudsters who deceived the bank, causing a loss of $175 million. In a court filing on Friday, JPMorgan contested a prior ruling that required it to cover the legal costs of its former business...

Michael Intrator, the CEO of AI startup CoreWeave, has seen his net worth double to a whopping $10 billion in a mere 12 days. This rapid wealth accumulation is unprecedented in the tech industry. What Happened: CoreWeave’s stock has skyrocketed by nearly 300% in the last two...

OpenAI, the startup behind the artificial intelligence portal known as ChatGPT, is about to get a massive cash infusion that will pump its valuation beyond $100 billion. What Happened: Venture capital firm Thrive Capital is leading a fundraising effort and will invest at least $1 billion, according...

Trustly, a Swedish fintech firm backed by BlackRock Inc. (NYSE:BLK) has reported a 51% increase in operating profit for 2023. Despite this, CEO Johan Tjarnberg stated that an IPO is at least two years away. What Happened: Trustly’s revenue for 2023 reached $265 million, with significant...

Editor’s note: This story has been updated to reflect that Alexis Ohanian is no longer affiliated with Reddit. Alexis Ohanian, the co-founder of Reddit, Inc. (NYSE:RDDT), shared his thoughts on the common misconceptions about task management among startup founders. What Happened: On...

The co-founder and first CEO of Netflix Inc. Marc Randolph has shared his thoughts on the primary motivation for working in a startup. What Happened: On Monday, Randolph took to X, formerly Twitter, and expressed views on the most compelling reason to work in a startup. He said it’s not...

In a recent episode of ABC’s “Shark Tank,” Mark Cuban found a kindred spirit in a young entrepreneur and made a significant investment. What Happened: On Friday’s episode of “Shark Tank,” Justin Huang presented his product, Cup-a-Bug, to the investor judges. The...

Sony Group Corporation (NYSE:SONY) is expanding its gaming footprint by investing in an African gaming startup, Carry1st. What Happened: Sony, the maker of the popular PlayStation gaming console, has made an undisclosed investment in Carry1st, a gaming studio based in Cape Town, South Africa,...

On a recent episode of ABC’s “Shark Tank,” billionaire Mark Cuban and the rest of the panel declined an investment opportunity with green burial startup Return Home. As reported by CNBC, Micah Truman, CEO of Return Home, sought a $2 million investment for a 5%...

Nexusflow raised $10.6 million as part of a seed round led by Point72 Ventures, with participation from Fusion Fund and several artificial intelligence (AI) luminaries. The startup was formed by AI experts Jiantao Jiao and Kurt Keutzer from the Berkeley AI Research Lab, along with AI leader Jian...