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Musk's tunneling startup eyes $20B valuation, new funding

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Musk's tunneling startup eyes $20B valuation, new funding

The Boring Company is in discussions about to raise a fresh $4 billion in funding round that would value Elon Musk's tunneling startup at about $20 billion, The Wall Street Journal reports, citing anonymous sources. The SpaceX spinoff makes tunnel boring machines that promise to dig underground for less than the cost of traditional construction companies. In 2022, a $675 million funding round boosted Boring's value to about $5.7 billion. Notable investors at the time included Vy Capital, Sequoia Capital and Founders Fund.

1 min read A Admin

The Boring Company is in talks to raise a fresh $4 billion funding round. The deal would value Elon Musk’s tunneling startup at approximately $20 billion, according to The Wall Street Journal, citing anonymous sources. The SpaceX spinoff specializes in...

Massive AI spending spree appears to pass its peak

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Massive AI spending spree appears to pass its peak

Corporate America has gotten hip to AI. Companies have realized recently that in order to perform everyday tasks, they don't necessarily need the most cutting-edge models that cost significantly more than less capable alternatives. "It’s like driving a Lamborghini to go to the grocery store to pick up milk," Cursor's Mike Saeks told The Wall Street Journal. The new, more cautious approach marks a departure from the recent days of "tokenmaxxing," in which firms encouraged spending based on the belief that it would improve output.

1 min read A Admin

Corporate America has become more pragmatic about artificial intelligence. Companies have started recognizing that everyday tasks do not always require the most advanced and expensive AI models. Many organizations now prefer less costly alternatives that...

Anthropic debuts Opus 5 amid sectorwide security concerns

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Anthropic debuts Opus 5 amid sectorwide security concerns

Anthropic debuted a new AI model Friday as the tech world grapples with the fallout from a worrisome security breach. Claude Opus 5 "comes close to the frontier intelligence of Claude Fable 5 at half the price," the company said in a release, noting "it remains behind Mythos 5 on cybersecurity tasks." Anthropic released both Fable 5 and Mythos 5 last month, but temporarily restricted access to them due to government security concerns. Earlier this week, OpenAI blamed "a combination" of its AI models for breaching Hugging Face's internal systems.

1 min read A Admin

Anthropic introduced a new AI model on Friday amid ongoing concerns following a recent security breach in the tech industry. The company launched Claude Opus 5 as a more accessible option in its lineup. According to Anthropic, Claude Opus 5 “comes close to...

Tech leaders urge caution on AI model restrictions

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Tech leaders urge caution on AI model restrictions

The leaders of more than 20 tech companies including LinkedIn parent Microsoft and Nvidia are urging Washington not to rush to impose restrictions on open-weight AI models. In a joint letter, the coalition argues that open models fuel competition, and warns that clamping down on them risks AI power getting concentrated among a handful of proprietary models. The pushback comes as U.S. officials probe potential IP theft by Chinese firm Moonshot, whose model Kimi 3 has recently made waves.

1 min read A Admin

Leaders from more than 20 major tech companies, including Microsoft and Nvidia, are calling on Washington to avoid rushing into restrictions on open-weight AI models. The coalition emphasizes the importance of keeping the AI ecosystem open and competitive. In...

AMD commits up to $5B to Anthropic in new partnership

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AMD commits up to $5B to Anthropic in new partnership

Advanced Micro Devices on Wednesday revealed plans to invest up to $5 billion in Anthropic "in the future." The partnership will also see Anthropic deploy 2 gigawatts of AMD graphics processing units in its Helios rack-scale solutions. Though rival Nvidia commands much of the market for GPUs, AMD has nabbed a number of deals with big-name AI players, including OpenAI. Anthropic, meanwhile, has been inking agreements to expand its computing capacity — including a $1.25-billion-a-month tie-up with Elon Musk's SpaceX. The startup is expected to go public within months.

1 min read A Admin

Advanced Micro Devices announced on Wednesday plans to invest up to $5 billion in Anthropic in the future. The strategic partnership aims to strengthen collaboration between the two companies in the AI sector. As part of the deal, Anthropic will deploy 2...

Nvidia begins rolling out new Vera chip to AI companies

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Nvidia begins rolling out new Vera chip to AI companies

Nvidia released new details about its latest data center chip designs based on Vera Rubin technology, which have begun rolling out to major clients, the company announced Tuesday. “We are absolutely in full production,” said Ian Buck, a Nvidia vice president and general manager. OpenAI, Anthropic and SpaceX received Vera Rubin chips last month, Nvidia representatives said. The chip is designed specifically for AI applications, enhancing single-core performance and memory bandwidth, and aims to maintain Nvidia's competitive edge against established players like AMD and Intel.

1 min read A Admin

Nvidia has released new details about its latest data center chip designs based on Vera Rubin technology. The company announced on Tuesday that the chips have begun rolling out to major clients. “We are absolutely in full production,” said Ian Buck...

Meet the AI era's most in-demand job: chief of staff

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Meet the AI era's most in-demand job: chief of staff

As corporate leaders grapple with the opportunities and disruptions of the artificial intelligence era, demand for one role has surged: chief of staff. As Bloomberg reports, job postings for the role doubled last year, with salaries climbing as high as $400,000. The number of professionals in the role has tripled since 2021, especially in the tech and financial sectors. "It's a funny job — it's done by those who are ambitious, but you need humility because the job is not about you," says one former chief of staff.

1 min read A Admin

As corporate leaders navigate the challenges and opportunities of the artificial intelligence era, demand for the chief of staff role has surged dramatically. Companies are increasingly seeking experienced professionals to support executives during this...

Meta ups investment in Louisiana data center to $50B

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Meta ups investment in Louisiana data center to $50B

Meta on Monday said its upcoming Louisiana data center will be far bigger — and more expensive — than originally planned. The Hyperion facility in Richland Parish is now set to be a 5GW effort, up from 2GW, and cost more than $50 billion, nearly double the $27 billion Meta first announced in October. Louisiana, for its part, is offering a significant tax break to the Facebook parent, which just notched its best week on the stock market in more than two years after releasing new AI models.

1 min read A Admin

Meta announced on Monday that its upcoming Louisiana data center will be significantly larger and more expensive than initially planned. The Hyperion facility in Richland Parish is now expected to reach 5GW in capacity, more than double the original 2GW...