London-based financial technology firm Revolut is in discussions with investors about a new round of funding that would value the 6-year-old company at $20 billion, Bloomberg reports . Revolut’s valuation reached $5.5 billion in 2020 as part of a $500 million financing led by TCV. Revolut offers app-based banking services including foreign money exchange and money transfer. Its revenue rose...
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How Microsoft is Trying to Lessen Its Addiction to OpenAI as AI Costs Soar
Microsoft’s push to put artificial intelligence into its software has hinged almost entirely on OpenAI, the startup Microsoft funded in exchange for the right to use its cutting-edge technology. But as the costs of running advanced AI models rise, Microsoft researchers and product teams are working on a plan B. In recent weeks, Peter Lee, who oversees Microsoft’s 1,500 researchers,...
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