Jasper, an Early Generative AI Winner, Cuts Internal Valuation as Growth SlowsRead more

Briefing
markets

Mobileye Rises 38% in First Day of Trading

By
Akash Pasricha
· · Source: The Information

Shares of Mobileye, Intel’s self-driving vehicles arm, debuted on the Nasdaq on Wednesday and closed at $28.97, 38% above the $21 price that was set for the offering. The company closed the day with a market capitalization of $23.1 billion, much lower than the $50 billion price tag Mobileye initially planned to seek months ago, according to multiple reports. The company planned to sell just 41...

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing markets apple
Apple’s Hiccup, Blue Apron Gets Picked Up
By Martin Peers · Sept. 29, 2023 3:00 PM PDT
Photo via Getty.
It’s hard to feel sympathy for Apple, given how much money it makes ($9.2 million in net income every hour in the most recent quarter). But the flood of complaints on social media about overheating in the latest line of iPhones makes you feel a bit for the tech giant and its executives. Here’s a company that wanted to make its high-end phones lighter by using titanium, and what sounds like a...
Latest Briefs
 
Big Tech Critic Luther Lowe Leaves Yelp
By Jon Victor · Sept. 29, 2023
Following Probe, SEC Won’t Recommend Enforcement Action Against Bolt
By Erin Woo · Sept. 29, 2023
Marc Lore’s Wonder to Buy Blue Apron for $103 Million
By Theo Wayt · Sept. 29, 2023
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Former Apple design chief Jony Ive and OpenAI CEO Sam Altman. Photos by Getty.
Exclusive
Designer Jony Ive and OpenAI’s Sam Altman Discuss AI Hardware Project
By Jessica E. Lessin and Stephanie Palazzolo
Jony Ive, the renowned designer of the iPhone, and OpenAI CEO Sam Altman have been discussing building a new AI hardware device, according to two people familiar with the conversations.
From left to right: Blair Effron, Robert Pruzan and David Handler. Photos by Getty; Tidal Partners.
Exclusive Finance
Disputes, Employee Misconduct Rattle Centerview’s Silicon Valley Dreams
By Michael Roddan
The San Francisco Bay Area–based bankers at Centerview Partners, the investment bank that advised Silicon Valley Bank’s owner and Credit Suisse through recent turmoil, got two doses of bad news last week.
Art by Clark Miller
Exclusive startups entertainment
MasterClass Takes a Crash Course in Frugality
By Paris Martineau
MasterClass had a problem with the shoot featuring its latest star instructor, Walt Disney Co. CEO Bob Iger.
OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella. Photos via Getty
Exclusive microsoft ai
How Microsoft is Trying to Lessen Its Addiction to OpenAI as AI Costs Soar
By Aaron Holmes
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.
From left: Paul Graham, Garry Tan and Michael Seibel. Photos by Getty. Art by Mike Sullivan.
Exclusive startups ai
Y Combinator’s Garry Tan Goes to the Mat
By Kate Clark
Garry Tan was in his happy place. Surrounded by food trucks and techies basking in San Francisco’s September sun, the CEO of Y Combinator snapped selfies with entrepreneurs as he meandered through a crowd of 2,700 attendees at the startup accelerator’s annual alumni event.
Dave Rogenmoser, cofounder of Jasper. Photo via Getty.
Exclusive startups ai
Jasper, an Early Generative AI Winner, Cuts Internal Valuation as Growth Slows
By Natasha Mascarenhas and Stephanie Palazzolo
Jasper AI, an early darling of the generative artificial intelligence boom, has cut the internal value of its common shares 20%, according to former employees who were notified by the company.