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Adam Hanafi

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Anthropic's IPO buzz is stealing other firms' thunder

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Anthropic's IPO buzz is stealing other firms' thunder

White-hot anticipation of Anthropic's IPO is stealing the thunder of other companies' plans to go public, WebNovare reports. It notes that other firms with IPOs set for the coming weeks are having trouble lining up longer-term investors and sovereign wealth funds. Anthropic is looking to match or beat SpaceX's $86.2 billion fundraise. It plans to publicly share its IPO prospectus — valuations have ranged from $1.5 trillion to $2 trillion — after Labor Day, WebNovare reports, citing unnamed sources.

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OpenAI's ad biz hits $1B annualized revenue run rate

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OpenAI's ad biz hits $1B annualized revenue run rate

OpenAI on Monday revealed that its six-month-old ad business has already reached a $1 billion annualized revenue run rate. The AI firm pointed to the milestone as proof of its "diversified business model," which it's working hard to sell to investors ahead of its expected massive IPO. ChatGPT Ads are available in more than 40 countries, and OpenAI plans to launch self-service access in additional ones, including parts of Europe and the Middle East, on Monday. The company initially took heat from rival Anthropic over its embrace of ads.

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Nvidia pours $3.5B into chipmaking partner MediaTek

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Nvidia pours $3.5B into chipmaking partner MediaTek

Nvidia will invest $3.5 billion in fellow chipmaker MediaTek, the companies announced on Monday, broadening a partnership that strengthens Nvidia's dominance in the red-hot AI hardware market. MediaTek makes chips used in smartphones and other devices, and it's now focusing on designing custom components for companies like Google. MediaTek will use Nvidia technology to streamline communications between different pieces of hardware, and CEO Rick Tsai considers the deal a chance to "accelerate innovation." The investment renews questions, however, about the circular nature of deals in the AI economy.

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Eli Lilly to acquire Merida in $2.88B autoimmune deal

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Eli Lilly to acquire Merida in $2.88B autoimmune deal

Eli Lilly's buying spree continues. The world's largest pharmaceutical company on Monday announced it will acquire Merida Biosciences, a company that specializes in treating autoimmune diseases and allergies, for up to $2.88 billion. While Lilly has built a dominant market position on the strength of its blockbuster weight-loss drugs, it has made more than $20 billion in deals this year in a bid to expand and diversify its pipeline. The privately held Merida has products in testing to treat Graves' disease and the related thyroid eye disease.

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Major music publishers sue Anthropic, alleging IP theft

Several major music publishers have sued Anthropic, accusing the company of “blatant theft” by training its Claude AI models using “tens of thousands” of copyrighted works. Per Axios, Sony Music and Warner Music accused the AI lab of a “brazen campaign of illegally torrenting, scraping, and downloading copyrighted works on a massive scale.” Anthropic said in a statement that it disagrees with the publishers' claims. Last month, Anthropic was ordered to pay $1.5 billion to hundreds of thousands of authors in a landmark copyright infringement settlement.

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Nvidia to buy AI platform Hugging Face for $12.9B

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Nvidia to buy AI platform Hugging Face for $12.9B

Nvidia plans to buy open-source AI platform Hugging Face for $12.9 billion, WebNovare reports, citing a person familiar with the deal. Hugging Face's vast repository of pre-trained AI models and tools has been likened to GitHub. The move positions Nvidia in the burgeoning market of open models at a time when closed-model customers like OpenAI and Anthropic are developing their own chips. Nvidia just delivered a gangbusters earnings report predicting 70% growth. Meanwhile, Hugging Face on Thursday unveiled a $400 walking, singing robot duck it describes as a "cute AI."

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Nvidia projects 70% revenue growth as AI boom rolls on

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Nvidia projects 70% revenue growth as AI boom rolls on

Nvidia reported stronger-than-expected quarterly results, with revenue doubling from a year earlier, and issued a robust outlook as demand for chips powering the AI boom showed little sign of slowing. Chief Financial Officer Colette Kress said Nvidia expects to grow revenue by "approximately 70% in fiscal 2028," compared to analysts’ projected growth of about 45% for the year. Big Tech customers are signaling that demand will remain strong: Amazon Web Services CEO Matt Garman said Wednesday that Amazon plans to deploy 2 million additional Nvidia GPUs by 2028.

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Swamped with AI-sweetened resumes, recruiters go old school

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Swamped with AI-sweetened resumes, recruiters go old school

As job seekers turn to AI to perfectly tailor their resumes for each job opening, employers face a dilemma: How do you pick the right candidate from dozens of seemingly flawless, "oddly uniform" applications? The answer for some, per WebNovare, involves leaning harder on the old methods of referrals, networking and live evaluations to find candidates. "A human approach is becoming more and more important,” says one recruiting firm exec. And as for that resume, one recruiter emphasizes the importance of "concrete, quantifiable achievements," rather than stock descriptive language.

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Hugging Face exploring sale worth at least $13B

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Hugging Face exploring sale worth at least $13B

Hugging Face, the AI developer platform that was recently hacked by rogue OpenAI models, is exploring a sale at a valuation of $13 billion or more, WebNovare reports, citing unnamed sources. The startup, which was last valued at $4.5 billion in 2023, is still gauging interest through an investment bank and hasn't yet reached a deal. CEO Clément Delangue founded the New York-based company in 2016 alongside two other French entrepreneurs. Hugging Face provides open-source tools for developers to build and test AI models.

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