The start-up body had essentially challenged Google’s alleged dominant position and “purportedly abusive behaviour” in the online search advertisement and online display advertisement markets.
OpenAI has raised $8.3 billion in funding, pushing its valuation to around $300 billion, according to The New York Times. The funding round came earlier than expected and drew strong investor interest. It follows OpenAI’s earlier plans to raise large sums, including $30 billion from SoftBank by year-end.
OpenAI has raised $8.3 billion in funding, pushing its valuation to around $300 billion, according to The New York Times. The funding round came earlier than expected and drew strong investor interest. It follows OpenAI’s earlier plans to raise large sums, including $30 billion from SoftBank by year-end.
Walmart’s Mexico and Central America CEO, Ignacio Caride, has stepped down after just over a year, surprising analysts. Cristian Barrientos Pozo will serve as interim CEO. Despite the unexpected move, analysts view the leadership change positively, citing recent weak performance and welcoming a fresh approach to improve retail execution and margins.
A US appeals court has revived part of a lawsuit accusing Elon Musk’s X (formerly Twitter) of negligence for failing to promptly report child sexual abuse material. While X remains protected under Section 230 for most content, it must face claims over delayed reporting and platform design issues.
Social media platform X has criticised the UK’s Online Safety Act, warning it could suppress free speech through excessive regulation. While aimed at protecting children and removing illegal content, critics argue it encourages over-censorship. X called for significant changes, saying a balanced approach is needed to safeguard both safety and liberty.
India’s IT sector saw a slight 1% dip in hiring activity in July, according to Naukri’s JobSpeak report, marking a slowdown from June’s 5% growth. However, demand for roles in artificial intelligence and machine learning remained strong, showing stability despite the broader decline in tech recruitment.
India is at the early stages of a cybersecurity boom, with strong potential to produce global leaders, says Accel partner Prayank Swaroop. Despite over 1,400 startups, only a few are funded or listed. With AI reshaping security, Accel urged Indian founders to seize this $377 billion global opportunity.
The number of deals during the week was down to 17 transactions, compared to 45 in the corresponding week of the previous year. Startups raised around $125.7 million during the week, that is, from July 26 to August 1. This marks a 34.6% decline from the $192.1 million raised during the same period last year.
The stock jumped 250% on the first day of trading, giving the tech company a market cap of $61.5 billion. The company raised $1.2 billion through the IPO, which was oversubscribed by more than 40 times. The IPO brought enormous returns to its founders, executives, and early investors.
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