Elon Musk’s AI company, xAI, said to be in talks to raise $10B

Elon Musk’s AI company, xAI, is said to be in talks to raise $10 billion in a round that would value xAI at $75 billion. Bloomberg reported Friday that xAI is canvassing existing investors, including Sequoia Capital, Andreessen Horowitz, and Valor Equity Partners for the round, which would bring xAI’s total raised to $22.4 billion, […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Report: Meta in talks to acquire AI chip firm FuriosaAI

Meta is reportedly in talks to acquire a South Korean chip firm as the social media giant looks to bolster its AI hardware infrastructure. Meta may announce its intent to purchase FuriosaAI, a chip startup founded by former Samsung and AMD employees, as soon as this month, per Forbes. FuriosaAI develops chips that speed up […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Security compliance firm Drata acquires SafeBase for $250M

Drata, a security compliance automation platform that helps companies adhere to frameworks such as SOC 2 and GDPR, has acquired software security review startup SafeBase for $250 million. SafeBase co-founders Al Yang (CEO) and Adar Arnon (CTO) will retain their roles, and SafeBase will continue to offer a standalone product while bringing its core solutions to […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Suger helps companies list and scale up on cloud marketplaces

When cloud providers like Microsoft Azure and AWS launched cloud software marketplaces a decade ago, it opened up a new sales channel for software-as-a-service (SaaS) companies to get in front of potential enterprise customers. These marketplaces effectively enabled SaaS companies to bypass the traditional, lengthy sales cycles. But rarely is the seller-side experience a walk […]

© 2024 TechCrunch. All rights reserved. For personal use only.

SpotDraft taps AI to help streamline contract management

More and more legal professionals are embracing AI, surveys show. Per a recent poll from legaltech company Clio, 79% of firms used some form of AI for casework last year, up from just 19% in 2023. Despite some skepticism of the tech, in-house counsel has shown an interest, as well, with one survey suggesting that […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Voyantis aims to help companies figure out their customers’ worth

How much is a customer worth to a company? That’s the eternal question. To arrive at an answer, customer and sales teams are often forced to use spreadsheets and other manual data analysis methods. The problem is, these methods tend to be slow and error-prone, leading to gaps in reporting processes. The challenge spurred two […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Report: Ilya Sutskever’s startup in talks to fundraise at roughly $20B valuation

Safe Superintelligence, the AI startup founded by former OpenAI chief scientist Ilya Sutskever, is in talks to raise funding at a valuation of “at least” $20 billion, according to Reuters. It’s not clear how much Safe Superintelligence — which has yet to generate any revenue — is looking to secure, but it could be substantial. […]

© 2024 TechCrunch. All rights reserved. For personal use only.

OpenAI said to be in talks to raise $40B at a $340B valuation

OpenAI may have billions of dollars in the bank. But it’s gearing up to raise billions more, according to a report from The Wall Street Journal. Per The WSJ, OpenAI is in talks to secure up to $40 billion in a funding round that would value the startup at $340 billion. SoftBank would lead the […]

© 2024 TechCrunch. All rights reserved. For personal use only.

Data center operator DataBank nets $250M equity investment

The data center market is booming, driven by AI demand. Just last week, OpenAI said that it plans to team up with backers including SoftBank to spend at least $100 billion on data center infrastructure in the U.S. Microsoft aims to put around $80 billion toward AI infrastructure this year, and rival tech giants have […]

© 2024 TechCrunch. All rights reserved. For personal use only.

As the AI boom gobbles up power, Phaidra is helping companies manage datacenter power more efficiently

Electricity demand is booming on account of AI. In a May 2024 report, Goldman Sachs predicted that data centers will use 8% of the U.S.’s total power supply by 2030, up from 3% in 2022, as cloud service providers expand to meet the demand for AI infrastructure. Assuming the current trend holds, U.S. utilities will need to […]

© 2024 TechCrunch. All rights reserved. For personal use only.