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New details emerge on Meta’s $14.3B deal for Scale

techcrunch.com Julie Bort 2025-09-12 07:35:56

In Brief Meta’s deal to partially acquire the AI startup Scale, giving it 49% ownership, is certainly unusual. What Scale officially announced is that the deal values the company at over $29 billion and that it will “distribute” proceeds to shareholders and vested equity holders (aka employees) granting them with “substantial liquidity” while allowing them to continue as shareholders. Meta is also hiring Scale’s famed founder CEO Alexandr Wang, who famously dropped out of MIT at age 19 to bui

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Oracle's stock closes out best week since 2001 on cloud momentum

cnbc.com Jordan Novet 2025-09-12 11:08:43

Oracle CEO Safra Catz speaks at the FII PRIORITY Summit in Miami Beach, Florida, on Feb. 20, 2025. Oracle shares enjoyed their best week since 2001 as Wall Street cheered a strong earnings report and bullish comments on the company's prospects in cloud computing. The stock jumped about 24% for the week, with almost all the gains coming in the two trading days after the company's quarterly earnings release. The last time Oracle had a better week was in April 2001, in the midst of the dot-com cr

Topics: billion cloud company earnings oracle

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Oracle's stock on pace for best week since 2001 on cloud momentum

cnbc.com Jordan Novet 2025-09-12 15:36:15

Oracle shares are on pace for their best week since 2001 as Wall Street cheers a strong earnings report and bullish comments on the company's prospects in cloud computing. The stock is up about 24% for the week, with almost all the gains coming in the two trading days after the company's quarterly earnings release. The last time Oracle had a better week was in April 2001, in the midst of the dot-com crash, when so-called dead-cat bounces were common. The prior quarter Oracle shares lost almost

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Meta invests $14.8 billion in Scale AI and recruits its CEO

engadget.com Unknown 2025-09-13 15:00:29

Meta has finalized its $14.3 billion investment in Scale AI, which now values the startup that provides other companies with data labeling and model evaluation services for AI training at $29 billion. As part of the deal, Scale AI's founder and CEO Alexandr Wang will be joining Meta. According to The New York Times, Wang will lead Meta's fledgling "Superintelligence lab." A few days ago, several reports came out that Meta chief Mark Zuckerberg has been personally overseeing the recruitment for a

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Oracle shares pop 13% to record high on earnings beat, cloud optimism

cnbc.com Jordan Novet 2025-09-14 19:26:07

Larry Ellison, Oracle's co-founder, chief technology officer and chairman, at right, and U.S. President Donald Trump share a laugh as Ellison uses a stool to stand on as he speaks during a news conference in the Roosevelt Room of the White House in Washington on Jan. 21, 2025. Trump announced an investment in artificial intelligence (AI) infrastructure and took questions on a range of topics including his presidential pardons of Jan. 6 defendants, the war in Ukraine, cryptocurrencies and other t

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Oracle shares pop 15% to record high on earnings beat, cloud optimism

cnbc.com Jordan Novet 2025-09-15 11:43:15

Larry Ellison, Oracle's co-founder, chief technology officer and chairman, at right, and U.S. President Donald Trump share a laugh as Ellison uses a stool to stand on as he speaks during a news conference in the Roosevelt Room of the White House in Washington on Jan. 21, 2025. Trump announced an investment in artificial intelligence (AI) infrastructure and took questions on a range of topics including his presidential pardons of Jan. 6 defendants, the war in Ukraine, cryptocurrencies and other t

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Gaming VC activity settles into a new normal in Q1 | Pitchbook

venturebeat.com Dean Takahashi 2025-09-15 10:01:00

In the first quarter, gaming VC activity may have finally settled into a new normal — though it’s a leaner, more selective market, according to an analysis by PitchBook. Q1 funding dipped 3% QoQ to $1.2 billion across 134 deals, the lowest deal count since mid-2019. As early-stage investments continue to shrink, investors grow increasingly discerning, and the M&A and exit environment remain muted, there are still bright spots: investment surged into back-end gaming infrastructure and AI-powered

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Oracle shares climb 8% as earnings, revenue top estimates

cnbc.com Jordan Novet 2025-09-16 16:07:23

From left, former Fox Corp. Executive Chairman Rupert Murdoch and Larry Ellison, Oracle's co-founder, chief technology officer and executive chairman, listen as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House in Washington on Feb. 3, 2025. Oracle shares rose about 8% in extended trading on Wednesday after the software maker reported results that exceeded Wall Street estimates and signaled that cloud growth will accelerate. Here's how the company did in com

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Block shares plunge 18%, for worst day on market in 5 years after earnings miss

cnbc.com Mackenzie Sigalos 2025-06-01 07:26:24

Block shares plunged 18% on Friday, their steepest drop since 2020, after the company reported fourth-quarter earnings that missed estimates and issued guidance for 2025 that failed to reassure investors. In its financial report late Thursday, Block reported earnings of 71 cents per share, falling short of the average analyst estimate of 87 cents, according to LSEG. Revenue of $6.03 billion also missed expectations of $6.29 billion. The company posted $2.31 billion in gross profit for the quart

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Bybit loses $1.5B in hack but can cover loss, CEO confirms

news.ycombinator.com Unknown 2025-06-01 04:15:03

Cryptocurrency exchange Bybit has experienced $1.46 billion worth of "suspicious outflows," according to blockchain sleuth ZachXBT. The wallet in question appears to have sent 401,346 ETH ($1.1 billion) as well as several other iterations of staked ether (stETH) to a fresh wallet, which is now liquidating mETH and stETH on decentralized exchanges, etherscan shows. The wallet has sold around $200 million worth of stETH so far. Bybit CEO Ben Zhou wrote on X that a hacker "took control of the spe

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Crypto exchange Bybit says it was hacked and lost around $1.4B

techcrunch.com Lorenzo Franceschi-Bicchierai 2025-06-01 05:00:33

Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of Ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion. Both crypto security firm Elliptic, as well as crypto security researcher ZachXBT, the total amount of ETH stolen is worth around $1.4 billion, making this the largest known

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Block shares plunge 17%, head for worst day in 5 years after earnings miss

cnbc.com Mackenzie Sigalos 2025-06-01 09:55:23

Block shares plunged 16% on Friday and headed for their steepest drop since 2020 after the company reported fourth-quarter earnings that missed estimates and issued guidance for 2025 that failed to reassure investors. In its financial report late Thursday, Block reported earnings of 71 cents per share, falling short of the average analyst estimate of 87 cents, according to LSEG. Revenue of $6.03 billion also missed expectations of $6.29 billion. The company posted $2.31 billion in gross profit

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Game investments and M&A totaled $17.5B across 985 deals in 2024 | DDM

venturebeat.com Dean Takahashi 2025-06-01 09:00:00

As the games industry moves on from “survive til 25,” 2024 games investment and M&A data revealed recovery and improvement, according to market analyst firm Digital Development Management (DDM). In order to properly compare 2024 to 2023, it’s important to remember that in Q4 2023 Microsoft acquired Activision Blizzard for $68.7 billion, the largest gaming M&A in history by over 5.4 times its nearest counterpart of Take-Two Interactive’s $12.7 billion acquisition of Zynga. Removing Microsoft’s

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Crypto exchange Bybit says it was hacked and lost around $1.4 billion

techcrunch.com Lorenzo Franceschi-Bicchierai 2025-06-01 10:00:33

Crypto exchange Bybit announced on Friday that “a sophisticated attack” led to the theft of ethereum (ETH) from one of the company’s offline wallets. Bybit’s chief executive and co-founder Ben Zhou said in a livestream that the hackers stole around 401,346 ETH, which at the time of the theft amounts to about $1.4 billion. Both crypto security firm Elliptic, as well as crypto security researcher ZachXBT, the total amount of ETH stolen is worth around $1.4 billion, making this the largest known

Topics: according billion bybit crypto theft

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Augury and Hightouch joined the unicorn club

techcrunch.com Anna Heim 2025-06-01 10:05:00

Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. Startup life is a story of births and deaths. This week confirmed this, and it confirmed that unicorn rounds are not dead. Most interesting startup stories from the week Image Credits:Natalie Christman / Humane As happens often in the startup world, it’s been a week of beginnings and endings. Thinking machines: Thinking Machines Lab, the n

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61 US startups became unicorns in 2024: Here’s the full list

techcrunch.com Dominic-Madori Davis 2025-05-31 23:55:22

Despite the tight venture capital market, unicorns are still being created every month. Using data from Crunchbase, CB Insights, and PitchBook, TechCrunch tracked down the newly minted unicorns so far this year. The list includes Elon Musk’s xAI, which is already valued at a staggering $24 billion, as well as a good number of other AI startups. But cybersecurity, health tech, and fintech have also done well. This list will be updated throughout the year, so check back and see the powerhouses ra

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Elon Searching for Investors Gullible Enough to Pour More Money Into Twitter

futurism.com Unknown 2025-06-01 04:13:39

In 2022, Elon Musk placed a bid of almost $44 billion to acquire Twitter, which he then tried to worm out of. With his back against the wall after a brief skirmish in the courts, Musk chose to honor his original purchase agreement and take over the platform. Flash forward to the present day, and X-formerly-Twitter has lost upward of 79 percent of its original value after neo-Nazis flocked to the platform and big-name advertisers fled in droves. Now, in a somewhat rare move for the richest man

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Rivian reports first quarter of ‘positive gross profit’

theverge.com Andrew J. Hawkins 2025-06-01 07:50:21

is transportation editor with 10+ years of experience who covers EVs, public transportation, and aviation. His work has appeared in The New York Daily News and City & State. Rivian announced a significant milestone today, reporting its first “positive gross profit” in its fourth quarter earnings for 2024. It was a sign that the struggling company’s efforts to slash costs through the gut overhaul of its R1 electric vehicles is starting to yield some positive results. But dark clouds loom ahead,

Topics: billion company rivian said year

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Europe risks becoming a 'museum' if it doesn't innovate in AI and deregulate, Swedish PM warns

cnbc.com Ryan Browne 2025-06-01 07:55:26

STOCKHOLM — Europe is at risk of becoming a "museum" if it doesn't soften strict curbs on artificial intelligence technologies and deregulate, Sweden's Prime Minister Ulf Kristersson said Thursday. "I think we really need to step up in Europe ... the American economy, Chinese economy have been growing far faster compared to the European economies over the last 20 years," the premier told attendees of the Techarena event in Stockholm. "If we don't change that, Europe will actually become some k

Topics: ai billion compared europe investment

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Saronic raises $600M to mass-produce autonomous warships

techcrunch.com Charles Rollet 2025-06-01 04:11:17

Austin-based defense startup Saronic has raised a $600 million Series C to build an autonomous ship factory called “Port Alpha,” it announced yesterday, quadrupling its valuation to $4 billion from its last round. Investor Elad Gil led the round, with General Catalyst joining existing investors Andreessen Horowitz, 8VC, and Caffeinated Capital, among others. That should make Saronic the second, possibly third, most valuable defense tech startup in the U.S. after Anduril’s last round valued it

Topics: billion defense round saronic valuation

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Elon’s DOGE Claimed It Saved $8 Billion. The Real Figure Was $8 Million.

gizmodo.com Lucas Ropek 2025-06-01 07:55:35

Elon Musk’s Department of Government Efficiency claims to be fighting the scourge of government “waste” and fraud and, this week, DOGE claimed that it had already saved taxpayers tens of billions of dollars. However, in an ironic twist, it would appear that the claims being made by Musk and DOGE about their own activities appear to be, themselves, fraudulent. Despite recently claiming that it had already saved Americans $55 billion, the information on DOGE’s website only accounts for $16 billio

Topics: billion doge government musk savings

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Latest Tech News

New details emerge on Meta’s $14.3B deal for Scale

Oracle's stock closes out best week since 2001 on cloud momentum

Oracle's stock on pace for best week since 2001 on cloud momentum

Meta invests $14.8 billion in Scale AI and recruits its CEO

Oracle shares pop 13% to record high on earnings beat, cloud optimism

Oracle shares pop 15% to record high on earnings beat, cloud optimism

Gaming VC activity settles into a new normal in Q1 | Pitchbook

Oracle shares climb 8% as earnings, revenue top estimates

Block shares plunge 18%, for worst day on market in 5 years after earnings miss

Bybit loses $1.5B in hack but can cover loss, CEO confirms

Crypto exchange Bybit says it was hacked and lost around $1.4B

Block shares plunge 17%, head for worst day in 5 years after earnings miss

Game investments and M&A totaled $17.5B across 985 deals in 2024 | DDM

Crypto exchange Bybit says it was hacked and lost around $1.4 billion

Augury and Hightouch joined the unicorn club

61 US startups became unicorns in 2024: Here’s the full list

Elon Searching for Investors Gullible Enough to Pour More Money Into Twitter

Rivian reports first quarter of ‘positive gross profit’

Europe risks becoming a 'museum' if it doesn't innovate in AI and deregulate, Swedish PM warns

Saronic raises $600M to mass-produce autonomous warships

Elon’s DOGE Claimed It Saved $8 Billion. The Real Figure Was $8 Million.

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