Indian startups gut valuations ahead of IPO push
Two large Indian startups, Ola Electric and FirstCry, are set to test investor appetite with their public listings this month, but both have had to price their shares below their previous valuations as they come to terms with new market realities. Ola Electric, India’s biggest electric two-wheeler maker, aims to
Read moreThe EU’s AI Act is now in force
The European Union's risk-based regulation for applications of artificial intelligence has come into force starting from today. © 2024 TechCrunch. All rights reserved. For personal use only.
Read moreHealx, an AI-enabled drug discovery platform for rare diseases, raises $47M
The company also said it has received regulatory clearance to start Phase 2 clinical trials for a new drug in the U.S. later this year. © 2024 TechCrunch. All rights reserved. For personal use only.
Read moreZuckerberg says Meta will need 10x more computing power to train Llama 4 than Llama 3
Meta, which develops one of the biggest foundational open-source large language models, Llama, believes it will need significantly more computing power to train models in the future. Mark Zuckerberg said on Meta’s second-quarter earnings call on Tuesday that to train Llama 4 the company will need 10x more compute than
Read moreAxle Energy’s sprint to decarbonize the grid lights up with $9M seed led by Accel
Axle Energy is a B2B, back-end infrastructure business focused on connecting flexible assets, such as electric vehicles and home batteries, to energy markets that aren't otherwise available for consumers to dip into. © 2024 TechCrunch. All rights reserved. For personal use only.
Read moreOpenAI pledges to give U.S. AI Safety Institute early access to its next model
OpenAI CEO Sam Altman says that OpenAI is working with the U.S. AI Safety Institute, a federal government body that aims to assess and address risks in AI platforms, on an agreement to provide early access to its next major generative AI model for safety testing. The announcement, which Altman
Read moreMeta says India is the largest market for Meta AI usage
WhatsApp’s massive 500 million users in India have supercharged Meta’s AI ambitions. Meta CFO Susan Li said Wednesday that India is the largest market in terms of Meta AI usage, a notable milestone considering the product launched in India just a few months ago. Li said during Meta’s second-quarter earnings
Read moreFounder behind social media app IRL charged with fraud
While venture capitalists and the rest of the technorati are off on holiday or attending the Paris Olympics, the U.S. Securities and Exchange Commission and its staff attorneys are keeping busy this summer. For the second time this week — and at least the fourth time in the past several
Read moreFintech Execs from Synctera, Unit, and Treasury Prime discuss the future of BaaS at TechCrunch Disrupt 2024
The serious, long-term negative impact of the bankruptcy of banking-as-a-service (BaaS) fintech Synapse will be significant “on all of fintech, especially consumer-facing services,” one observer has said. In the wake of that company’s collapse, other startups in the space are working hard to prove that not all BaaS are created
Read moreGoogle releases new ‘open’ AI models with a focus on safety
Google has released a trio of new, “open” generative AI models that it’s calling “safer,” “smaller” and “more transparent” than most — a bold claim, to be sure. They’re additions to Google’s Gemma 2 family of generative models, which debuted back in May. The new models, Gemma 2 2B, ShieldGemma
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