Saturday, October 19, 2024

Midjourney plans to let anyone on the web edit images with AI

Midjourney is planning to release an upgraded web tool that’ll let users edit any uploaded images from the web using Midjourney’s generative AI. The upgraded tool, which Midjourney CEO David Holtz said will be released “early next week,” will also allow users to retexture objects in images to “repaint” their colors and details according to […]

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Friday, October 18, 2024

SpaceX wins $733M Space Force launch contract

SpaceX was awarded an eight-launch, $733 million contract by the U.S. Space Force on Friday, as part of an ongoing program intended to foster competition among launch providers. The award includes seven launches for the Space Development Agency and one for the National Reconnaissance Office, all anticipated to use Falcon 9s and occur no earlier […]

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This $600 Buzz Lightyear toy is the most realistic yet

Do you have $600 burning an asteroid-sized hole in your pocket? If so then the new Buzz Lightyear robot might be for you. A collaboration between Pixar and smart toy company Robosen, the new Buzz is fully loaded with over 3,000 tiny parts, 75 microchips, and 23 servo motors. It also features what Robosen calls […]

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Fluid Truck files for Chapter 11 bankruptcy and pursues sale after leadership shakeup

Less than two months after Fluid Truck’s board ousted its sibling co-founders from their executive positions, the company has laid off 30% of its staff, filed for Chapter 11 bankruptcy protection, and found a potential buyer to take on the business, pending court approval, according to bankruptcy filings and information from a former employee.  Fluid […]

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Investors bet on the power of light, diamonds in the trash, and more

Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. This week brought us some exciting fundraising news from around the world, and even some exits. But if you are looking for tech IPOs, you will have […]

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Microsoft could end up with substantial equity in the restructured, for-profit OpenAI

How much equity in OpenAI will Microsoft get once the former becomes a for-profit company? That’s the multi-billion-dollar question — one the two parties are racing to answer ahead of a two-year deadline. The Wall Street Journal reports that both Microsoft and OpenAI have hired investment banks to negotiate Microsoft’s equity — which could be […]

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Nebius to resume Nasdaq trading after severing ties with Russia and Yandex

Nebius, the company formerly known as Yandex that’s now focused on cloud infrastructure for AI uses (aka “AI compute”), is to begin trading on the public markets once again — more than two years after the Nasdaq halted trading due to economic sanctions imposed in the wake of Russia’s Ukraine invasion in 2022. The Netherlands-based company […]

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Thursday, October 17, 2024

Byju’s founder says his edtech startup, once worth $22B, is now ‘worth zero’

Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, and that his startup, once valued at $22 billion, is now effectively worth “zero.” Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two dozen startups to expand […]

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The surprising way OpenAI could reportedly get out of its pact with Microsoft

The New York Times on Thursday published a look at the “fraying” relationship between OpenAI and its investor, partner, and, increasingly, rival, Microsoft, reporting their five-year romance has cooled owing to financial pressure on OpenAI, the amount of computing power Microsoft is providing OpenAI, and disagreements between the two about ground rules. Most fascinating perhaps […]

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Amazon indicates employees can quit if they don’t like its return-to-office mandate

AWS CEO Matt Garman has harsh words for remote workers: return to the office or quit. The Amazon executive recently told employees who don’t like the new five-day in-person work policy that, “there are other companies around,” presumably companies they can work for remotely, Reuters reported on Thursday. Amazon’s top boss, Andy Jassy, told employees […]

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Automattic offered employees another chance to quit — this time with nine months’ severance

Days after 159 people accepted Automattic CEO Matt Mullenweg’s offer of a six-month severance package to employees who wanted to leave, the company floated a new offer late on October 16 of a nine-month severance package to anybody who quit immediately. Employees had four hours to decide whether they wanted to take the deal. In […]

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General Catalyst reportedly to back Saudi Arabian startup

Despite Saudi Arabia’s record of human rights abuses, some investors are warming up to investing in the country’s startups. General Catalyst is planning to invest in a Saudi Arabia-based fintech startup, Lean Technology, the firm’s first investment in the Middle Eastern nation, the Information reported. Other Saudi Arabian startups that US-based investors recently backed include […]

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