Hyperliquid Strategies is doubling down on its Hyperliquid treasury plan, filing papers to raise up to $1 billion to purchase more tokens powering the world’s largest decentralized derivatives platform. According to its S-1 registration statement with the US Securities and Exchange Commission on Wednesday, Hyperliquid Strategies unveiled its plan to offer up to 160 million shares…
Meta is paying $14.3 billion to acquire 49 percent of Scale AI and hire its CEO, Alexandr Wang, to revamp its troubled AI efforts. As part of the deal, Wang will report directly to Meta CEO Mark Zuckerberg and remain on Scale’s board of directors, both companies announced on Thursday. Sources say Wang will lead…
Microsoft’s Bing or DuckDuckGo probably won’t disrupt Google’s dominance in search, said Apple senior vice president of services Eddy Cue — but AI services easily could. Cue was returning to a courtroom in Washington, DC where he last testified in the Justice Department’s trial against Google’s search monopoly in September 2023. During the current remedies…
EcoDataCenter, a Swedish company that builds eco-friendly data centers used by major compute providers to handle their AI traffic, has raised nearly half a billion dollars — $478 million (€450 million) to be exact — in anticipation of more demand. The equity funding, which is coming from a group of unnamed institutional investors, will be…
Apple has announced plans to invest more than $500 billion in the US over the next four years, including hiring 20,000 new employees and launching a new server factory in Texas. The announcement was teased after a meeting last week between CEO Tim Cook and President Donald Trump, and comes as the company tries to…
Volkswagen and Rivian have crossed all their T’s and dotted all their I’s in their new $5.8 billion joint venture, which officially kicks off its work on November 13th, the companies announced today. Last June, VW said it would invest $5 billion in Rivian as part of a new joint venture that’s focused on developing…
National Public Data, a company that collects personal data to resell and process background checks, is the target of a proposed class action lawsuit alleging it is the source of a massive data leak that includes information like Social Security Numbers and more on reportedly “3 billion people,” according to Bloomberg Law. As reported by…
The cloud infrastructure market has put the doldrums of 2023 firmly behind it with another big quarter. Revenue continues to grow at a brisk pace, fueled by interest in AI. Synergy Research reports revenue totaled $79 billion for the quarter, up $14.1 billion or 22% from last year. This marked the third consecutive quarter that…
Powerful record labels, including UMG Recordings, Warner Music, and Sony Music, filed a lawsuit Friday accusing Verizon of intentionally ignoring its customers’ copyright violations for profit, reports Music Business Worldwide. The plaintiffs say they are entitled to as much as $150,000 per violation under the Digital Millennium Copyright Act (DMCA), which could add up to…
Volkswagen is investing $1 billion in Rivian as part of a new joint venture that will give the German auto giant access to the buzzy California EV company’s software and EV platform. Rivian will receive an additional $4 billion over time, for a total sum of $5 billion. The joint venture will be co-owned by…