 |
|
|
|||||
One of the worlds biggest AI startups might be eyeing a massive IPO. According to a new report in the Financial Times, Anthropic has tapped the Palo Alto-based law firm Wilson Sonsini to help the company go public as soon as early next year. The law firm has a deep well of experience shepherding major tech IPOs and has worked with Google, LinkedIn, Lyft, and Square on their public offerings. In the lead-up to a potential IPO, the Financial Times reports that the company is drumming up a private round of funding that would peg its value at over $300 billion. According to the report, the company is also discussing its plans with large investment banks, but those talks are in their early stages. Anthropic might be trying to outmaneuver its rival OpenAI, which is reportedly considering an IPO in the second half of 2026, by going public first and could be valued at as much as a once-unthinkable $1 trillion. OpenAI recently pivoted away from its roots as a nonprofit to restructure itself as a public benefit corporation in a move that set the stage for a potential future IPO. Though the for-profit part of OpenAI will continue to operate under a nonprofit parent company, the change ushers in a new era for the business of AI one likely to be more focused on juicing revenue, attracting investment and pleasing shareholders. Anthropic sets itself apart Anthropic, which was founded by a group of OpenAI executives who split off in 2021, is backed by billions in investment from Amazon and Google. Unlike its prominent Microsoft-backed rival, Anthropic focuses on business applications for its AI tools rather than racing to capture a broad swath of the consumer market with generative AI multimedia. We are interested in our consumer users to the degree they are doing work, solving problems in their life, Anthropic design chief Joel Lewenstein told Fast Company in an October interview. Because were not interested in passive consumption and image generation and video generation, we just sort of have ruled those out from a mission perspective. The company is known for a more conservative approach to AI development that takes the technologys many risks and safety concerns into account an approach that could benefit its long term trajectory. Our interests are in making things that are beneficial while minimizing the risks of those same products because everything has a double-edged sword, Lewenstein told Fast Company. We see helping people grow and expand and create and solve problems as being the right risk-reward tradeoff.
Category:
E-Commerce
Arizona Attorney General Kris Mayes announced Tuesday that Arizona is the latest state to sue Temu and its parent company PDD Holdings Inc. over allegations that the Chinese online retailer is stealing customers data. Mayes said the app deceives customers about the quality of its low-cost products and collects what she described as a shocking amount of sensitive data without the consent of users, including GPS locations and a list of other apps on users’ phones. According to the lawsuit, prosecutors are concerned about Temu being subject to laws in China that require Chinese companies to hand over data requested by the government, and that its code is designed to evade security reviews. It can detect everywhere you go, to a doctors office, to a public library, to a political event, to your friends’ houses,” Mayes said during a news conference. So the scope of this invasion of privacy is enormous, and thats why I consider it possibly the gravest violation of the Arizona Consumer Fraud Act that we have ever seen in Arizona. Arizona’s top prosecutor also said the state wants to protect businesses from being ripped off by the online retailer, alleging the company has copied the intellectual property of brands that include the Arizona Cardinals and Arizona State University. In a statement early Wednesday, Temu denied the allegations. We help consumers and families access quality products at affordable prices, the company said. We work to keep costs down and maintain reliable supply so people can meet their needs without stretching their budgets. Attorneys general in Kentucky, Nebraska, and Arkansas have filed similar lawsuits in recent years. There have been legislative efforts at the federal level to counter Chinas influence, especially when it comes to technology and intellectual property. But Mayes suggested there should be greater intervention by the federal government to protect consumers. Mayes called the allegations against Temu more egregious than those that have been made against TikTok. Through a forensic review, investigators in Arizona found the apps code has portions recognized by experts as malware or spyware and allows exfiltration of data from a users mobile device while concealing that the app is doing so. The review also found in the app large swaths of previously banned code from the platforms precursor version. Mayes urged Arizonans to delete their Temu accounts, uninstall the app, and scan their devices for malware. Sejal Govindarao, Associated Press
Category:
E-Commerce
Hit-Boy has made chart-topping beats for the likes of Beyoncé, Jay Z, Nas and Doechii but behind the scenes he was stuck in a restrictive publishing deal. In this interview, Hit-Boy talks But now he’s in full control of his art and his story. He’ll also dive into his creative process and how he’s walking the line of AI and art.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||