Author: Advanced AI Editor
(Bloomberg) — Anysphere Inc., the developer of the popular artificial intelligence code editor Cursor, has had talks with investors about a deal that would double its valuation in a new funding round, according to a person familiar with the matter. Most Read from Bloomberg Investors have approached the company in recent weeks about a funding deal that would value the startup at $18 billion to $20 billion, said the person, who asked not to be identified because the information is private. The talks arrive shortly after the startup, which launched in 2023, surpassed $500 million in annualized revenue. The company…
Amazon CEO Andy Jassy told hundreds of thousands of his employees on Tuesday that generative AI is coming for their jobs and that their best bet is to embrace the technology. “Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be well-positioned to have high impact and help us reinvent the company,” he wrote in a company-wide email that was also published on Amazon’s corporate blog. But no matter how geeked Amazon employees get over new AI tools, Jassy also made a point to note that…
Source: TradingView.com AMD shares continued gaining ground Tuesday, boosted by upbeat Wall Street commentary following the chipmaker’s “Advancing AI” event last week. The stock broke out from a pennant pattern earlier this month and closed above the closely watched 200-day moving average in Monday’s trading session. Investors should watch crucial overhead areas on AMD’s chart around $145, $160 and $175, while also monitoring support levels near $115 and $108. Advanced Micro Devices (AMD) shares continued gaining ground Tuesday, boosted by upbeat Wall Street commentary following the chipmaker’s “Advancing AI” event last week. Piper Sandler on Monday raised its price target…
Bloomberg / Getty Images Amazon CEO Andy Jassy speaks at an Alexa unveiling event in February. Amazon CEO Andy Jassy said he expects the growth of AI to lead to fewer corporate jobs at the company. In a memo to employees Tuesday, Jassy said AI agents could speed innovation by taking on rote work at Amazon. In February, Jassy said Amazon expects to spend $100 billion in capital expenditures this year, with the majority going toward AI infrastructure for Amazon Web Services. Advertisement: High Yield Savings Offers Powered by Money.com – Yahoo may earn commission from the links above. Amazon…
Amazon’s CEO envisions an “agentic future” in which AI robots, or agents, replace humans working in the company’s offices. In a memo to employees made public by Amazon on Tuesday, CEO Andy Jassy said he expects the company to reduce its corporate workforce in as soon as the next few years, as it leans more heavily on generative AI tools to help fulfill workplace duties. “As we roll out more generative AI and agents, it should change the way our work is done,” Jassy stated. “We will need fewer people doing some of the jobs that are being done today, and more…
Amazon CEO Andy Jassy anticipates generative artificial intelligence will reduce its corporate workforce in the next few years as the online giant begins to increase its usage of the technology. “We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,” Jassy said in a message to employees. “It’s hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.” The…
Big Tech is shelling out jaw-dropping compensation amid a fierce AI talent war. Meta is even offering $100m signing bonuses to woo top OpenAI researchers, according to CEO Sam Altman. But as top AI companies scramble to retain staff with massive bonuses and noncompete deals, entry-level engineers are seeing fewer opportunities amid a declining junior hiring trend. The AI talent war has been heating up between Big Tech companies as they vie for an increasingly small group of elite AI researchers. According to OpenAI CEO Sam Altman, Meta has been aggressively going after the company’s top engineers—offering eye-watering compensation and…
They met at 10 p.m. each weeknight, after class at Columbia University. Sometimes talking over Zoom until 2 AM, Anish Agarwal, Raaz Dwivedi, Ahmed Lone, and Raj Agrawal talked about what it might mean to walk away from their lives—for a startup. All academics in some form or fashion, the group swapped ideas at the intersection of their research: causal machine learning, reinforcement learning, and AI agents. For Agarwal, the decision wasn’t to be taken lightly. That semester, he’d just started a tenure-track faculty position at Columbia after earning his PhD from MIT—he had an academic career that was taking…
(Bloomberg) — MiniMax is considering an initial public offering in Hong Kong, people familiar with the situation said, in what would be a landmark industry debut for a Chinese AI startup valued at about $3 billion. Most Read from Bloomberg High Yield Savings Offers Powered by Money.com – Yahoo may earn commission from the links above. MiniMax, one of the country’s so-called AI Dragons or Tigers, could aim to list as soon as this year, according to the people, who asked not to be identified because the information is confidential. The Shanghai-based company has hired financial advisers for the IPO,…
The Southeast Asia 500’s fastest growing company can thank the AI boom for its rapid rise. Generative AI has driven an investment surge into data centers, which provide the infrastructure for storing, processing and distributing data, key to running AI applications. Malaysia has garnered a significant share of this investment, attracting multi-billion deals from the likes of Google, Oracle and Microsoft over the past 18 months. And some of that hype has boosted the fortunes of some of Malaysia’s companies, including NationGate, an electronics manufacturing services provider. The company generated 5.27 billion Malaysian ringgit ($1.6 billion) in revenue last year,…