Lyft’s revenue rose 21% in the fourth quarter, as higher pricing offset slowing growth in ridership. But the company’s operating loss more than doubled to $596 million, while the company’s cash burn increased. Lyft shares fell 23% in after-hours trading. The company said its results were hurt by $375 million put into strengthening its insurance reserves. But the numbers also showed how the...
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Anthropic Makes OpenAI Look Cheap
How much should a well-regarded artificial intelligence startup be worth on paper?That’s the question facing scores of sovereign wealth funds, mutual fund firms and other private equity investors looking at two marquee AI opportunities: OpenAI and Anthropic. OpenAI is in the middle of its second employee share sale in the last six months, and if it succeeds, the new share price could imply an...
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