AI Startup Adept Raises $350 Million at $1 Billion Valuation
Adept, founded last year by former OpenAI and Google employees, gets new funding that illustrates an investor feeding frenzy in AI startups.
Weekday mornings
The Information AM
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy
Recent Editions
Google Unveils New AI Tools for Cloud, Workspace
Developers will be able to access Google's PaLM model through Google Cloud, as the company introduces new features in Gmail and Google Docs.
OpenAI Sells GPT-4 Access to Developers
OpenAI is selling access to GPT-4 through an API that lets developers use it in their own software.
Meta Platforms to Cut 10,000 Jobs, Zuckerberg Says
The cuts are the second in five months, part of what Zuckerberg calls Meta's Year of Efficiency.
Qualtrics Accepts Silver Lake’s $12.5 Billion Buyout Bid
Shares of Qualtrics, which sells software for analyzing customer and employee sentiment, have been hit hard by concerns over profitability.
Most of BuzzFeed’s Cash Was at SVB
BuzzFeed's disclosure shows how vulnerable the digital media firm was to SVB's failure.
Amazon and Rivian Consider Ending Exclusivity Agreement
Rivian initiated the talks after Amazon said it plans to buy around 10,000 electric vans this year.
Tesla Relaunches Powerwall Sales
Tesla stopped selling the Powerwall outside of bundles in 2021
FDIC Taps Former Fannie Mae CEO as Chief of SVB ‘Bridge Bank’
FDIC will open the bank on Monday with normal operations while it continues to run a sale process.
HSBC to Buy Silicon Valley Bank’s U.K. Subsidiary
The bank is buying the unit for 1 pound, the Bank of England said in a statement, as it sought to assure continuity for local startups.
U.K. Plans to Ban TikTok From Government Devices
The U.K.'s decision would follow similar moves earlier by the U.S., Canada and the European Union’s executive branch.
First Republic Secures Additional Liquidity From Fed, JPMorgan
Bank says it now has more than $70 billion of unused liquidity to fund operations.
U.S. Moves to Fully Backstop SVB, Signature Depositors
Regulators aim their moves at stemming panic in the financial system.
Regulators Shut Signature Bank
The bank was one alternative that crypto companies were increasingly looking to use after Silvergate Bank's collapse
SVB Securities Execs Look to Buy Back Bank’s Investment Arm
Jeff Leerink and management team are looking to help finance a potential management buyout of SVB's investment arm.
Stablecoin Issuer Circle Reveals $3.3 Billion Exposure to Silicon Valley Bank
The price of USDC, which is meant to stay at 1 USD, fell to less than 92 cents Friday evening before recovering slightly.
Silicon Valley Bank Experienced $42 Billion in Attempted Withdrawals
The bank was left with a negative cash balance of about $958 million after depositors rushed to pull funds, according to a regulatory filing.
Meta Layoffs Expected to Begin Next Week
The cuts will reportedly involve shutting down certain teams and projects.
Roku, Roblox and Others Disclose Exposure to Silicon Valley Bank
Roku, Roblox and EyePoint Pharmaceuticals disclosed they have cash tied up at Silicon Valley Bank as the ripples of the bank's collapse spread.
Group Black Offers $400 Million for Vice Media
The offer values Vice Media at well below one times' 2022 revenue, in the same valuation range as where Vox Media recently raised money.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy