Shubham Sharma / VentureBeat:
Snowflake announces Arctic, an LLM optimized for enterprise tasks such as SQL generation, coding, and instruction following, with an Apache 2.0 license — Today, Snowflake announced the launch of Arctic, a large language model (LLM) optimized for complex enterprise workloads such as SQL generation …
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and it will take Meta several years to make money from generative AI (Alex Heath/The Verge)
Alex Heath / The Verge:
Mark Zuckerberg says Meta AI assistant has been “tried” by “tens of millions of people” and it will take Meta several years to make money from generative AI — The generative AI gold rush is underway — just don’t expect it to create profits anytime soon.
TSMC unveils a new chip manufacturing technology called A16 and says it plans to start producing its ultra-advanced 1.6nm chips by 2026 (Cheng Ting-Fang/Nikkei Asia)
Cheng Ting-Fang / Nikkei Asia:
TSMC unveils a new chip manufacturing technology called A16 and says it plans to start producing its ultra-advanced 1.6nm chips by 2026 — Taiwan chip titan aims to secure leading position and capture AI demand — TAIPEI — Taiwan Semiconductor Manufacturing Co. says it will start production …
Reddit announces that its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally (Scharon Harding/Ars Technica)
Scharon Harding / Ars Technica:
Reddit announces that its Dynamic Product Ads, which use “shopping signals” to automatically show relevant ads to users, are entering public beta globally — Reddit says its “communities are naturally commercial.” — Reddit has made it clear that it’s an ad-first business.
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024 (Ben Glickman/Wall Street Journal)
Ben Glickman / Wall Street Journal:
IBM agrees to buy HashiCorp, which helps companies manage cloud infrastructure, in a deal valuing HashiCorp at $6.4B and expected to close by the end of 2024 — IBM will pay $35 a share for the cloud-software company in cash, giving it access to HashiCorp’s roster of some 4,400 clients
IBM reports Q1 revenue up 1% YoY to $14.46B, vs. $14.55B est., software revenue up 5.5% YoY to $5.9B, and net income of $1.6B, up from $927M YoY; IBM drops 5%+ (Jordan Novet/CNBC)
Jordan Novet / CNBC:
IBM reports Q1 revenue up 1% YoY to $14.46B, vs. $14.55B est., software revenue up 5.5% YoY to $5.9B, and net income of $1.6B, up from $927M YoY; IBM drops 5%+ — IBM CEO Arvind Krishna appears at the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024.
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill (Kyle Wiggers/TechCrunch)
Kyle Wiggers / TechCrunch:
AI coding assistant startup Augment emerges from stealth with a $227M Series B at a $977M post-money valuation, following a $25M Series A led by Sutter Hill — AI is supercharging coding — and developers are embracing it. — In a recent StackOverflow poll, 44% of software engineers …
Source: cloud data management startup Rubrik priced its IPO at $32 a share, above its expected $28-$31 range, raising $752M and valuing the company at $5.6B (CNBC)
CNBC:
Source: cloud data management startup Rubrik priced its IPO at $32 a share, above its expected $28-$31 range, raising $752M and valuing the company at $5.6B — Bipul Sinha, co-founder and CEO of data security software company Rubrik. Sinha previously backed cloud management company Nutanix.
Meta’s stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments (Ashley Capoot/CNBC)
Ashley Capoot / CNBC:
Meta’s stock drops 15%+ after hours on weak Q2 revenue guidance and higher FY 2024 capital expenditures due to increased AI infrastructure investments — Meta shares plunged in extended trading on Wednesday after the company issued a light forecast, overshadowing better-than-expected first-quarter results.
Meta’s Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020 (Alex Koller/CNBC)
Alex Koller / CNBC:
Meta’s Reality Labs Q1: revenue up 30% YoY to $440M, vs. $512.5M est., a $3.85B operating loss, vs. $4.31B est.; Reality Labs lost $45B+ since the end of 2020 — Facebook co-founder and chief executive, Mark Zuckerberg, speaks at an Oculus developers conference while wearing a virtual reality headset in San Jose, California.
