#startup

Hyperbolic, a startup focused on building decentralized AI infrastructure, has announced the successful closure of a $12 million Series A round led by Variant Fund and Polychain Capital. This brings the company’s total funding to $20 million.

xAI, the AI startup founded by Elon Musk, is in talks to raise investment in a new funding round that would bring its valuation to $40 billion.

OpenAI, the ambitious AI startup, is reporting massive losses. By the end of 2024, after covering operating costs, the company is expected to face an astonishing $5 billion deficit.

The Chinese artificial intelligence startup Moonshot has successfully completed another funding round, attracting over $300 million and raising the company’s valuation to $3.3 billion. Notable investors include major tech and financial firms such as Tencent, Alibaba, and Gaorong Capital.

The notorious FTX exchange has settled a lawsuit to recover $323 million spent in 2021 to acquire a European startup.

Dutch waste processing firm Bollegraaf Group has forged a partnership with British AI startup Greyparrot, which specializes in developing an automated waste analysis system. This innovative technology helps identify misclassification, segregate recyclable items, and prevent the disposal of contaminated materials through incineration.

French startup Mistral AI has secured an investment of 385 million euros in its most recent funding round, which was spearheaded by Andreessen Horowitz (a16z) and Lightspeed Ventures. This infusion has raised the company's valuation to $2 billion.

Blockchain-based and stablecoin-focused payments platform BVNK aims for a new funding round. According to Bloomberg, the startup, which is backed by Tiger Global Management, is in talks with potential buyers to raise at least $50M.

Pony.ai, an innovative startup developing autonomous driving technology, will officially file for an Initial Public Offering (IPO) in the U.S. this week.

The U.S. Federal Trade Commission (FTC) is investigating Microsoft for potentially trying to circumvent antitrust regulations in its $650 million acquisition of AI startup Inflection AI. The agency has requested pertinent documents and is conducting a preliminary review.

French AI developer H has raised $220 million, including investments from venture capitalists, to establish the next generation of artificial intelligence. Among the investors are notable companies like Amazon, Samsung, and even Google's technical advisor, Eric Emerson Schmidt.

American startup Figure, specializing in robotics, has garnered $675 million in investments from technological giants including Microsoft, OpenAI, Amazon, and Nvidia. This influx of capital has propelled the 80-person company to a valuation of $2.6 billion. Figure's initial plan was to develop a humanoid robot within its first year of operation.

OpenAI, a leading developer in artificial intelligence, achieved an annual revenue exceeding $2 billion, driven by the immense popularity of its ChatGPT application. This achievement positions the tech startup as one of the fastest-growing companies ever. Some Microsoft investors are optimistic, forecasting that revenues could double by the end of 2025 due to strong business demand.

These kids’ toys are the first products from Curio, a Silicon Valley startup that harnesses AI technology for its toy line.

Binance's newly appointed CEO, Richard Teng, proclaimed that the cryptocurrency exchange is evolving from a defiant tech startup to a conventional financial institution.