Apple Intelligence approved for launch in China with Alibaba and Baidu
The deal, which was rumored to be in the works last year, marks an important step for Apple's AI ambitions in a key market.
Apple Intelligence, the iPhone maker's generative AI offering, has received approval from China's internet content regulator to launch in the country. The approval came after Apple agreed to integrate Alibaba's Qwen AI model into its operating systems, including iOS, iPadOS, macOS, and visionOS, with capabilities for text and image understanding and generation. Baidu is also working with Apple on developing Apple Intelligence features for Chinese users. This approval is significant because Apple generated $20.5 billion in sales in Greater China in the second quarter, and the company had previously faced delays in bringing Apple Intelligence features to the Chinese market due to lack of regulatory approval.
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Anthropic sets IPO price range of $70 to $78 per share to reach an implied valuation of $1.404 trillion
The company could end up being worth a hefty $1.404 trillion if its shares list at the top of the price range, on a fully diluted basis.
Also reported by SiliconANGLE
Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation
Despite the tech selloff, Anthropic is pressing ahead with its IPO at a valuation of $1.25 to $1.75 trillion, well below the hoped-for $2 trillion. The Claude developer aims to raise $80 to $100 billion before Thanksgiving. Rival OpenAI has also recently had to cut its valuation. The article Anthropic pushes ahead with pre-Thanksgiving IPO despite tech selloff, accepts lower valuation appeared first on The Decoder.
Also reported by TechCrunch and The Verge
Taiwan’s chipmaking giant TSMC to invest $1B in Anthropic, OpenAI
Top chip manufacturer TSMC is ready to invest $1 billion in Anthropic and OpenAI. That would give the Taiwanese chipmaker direct stakes in leading AI developers, even as its own contract chipmaking business has profited enormously from the AI data center buildout. The chipmaker’s board approved plans to invest up to $500 million in OpenAI preferred stock reserved for large investors and another $500 million to purchase Anthropic common shares at the latter’s expected IPO price, according to Reut
OpenAI lands an $11 billion funding round, but has to court dentists for more capital
OpenAI has secured $11 billion in fresh capital, the first tranche of a round that values the company at $1.25 trillion. The full round could swell to $20 billion. That OpenAI is already turning to wealthy private investors hints at a saturating AI capital market and growing investor caution. The article OpenAI lands an $11 billion funding round, but has to court dentists for more capital appeared first on The Decoder.
Hatz AI raises $24M to help small businesses go AI-native through their MSPs
Large enterprises have emerged as the foremost adopters of artificial intelligence technology, and it’s giving them an unfair advantage over their smaller competitors. Looking to change that is a startup called Hatz AI Inc., which has just raised $24 million in early-stage funding to empower managed services providers with the tools they need to keep […] The post Hatz AI raises $24M to help small businesses go AI-native through their MSPs appeared first on SiliconANGLE.
Anthropic Seeks Record $88.5B Tied To Public Market Debut
Anthropic is seeking to secure up to $88.5 billion in its planned IPO and a concurrent private placement, potentially making it the largest-ever fundraise tied to a public market debut. On Tuesday, the AI giant submitted an updated S-1 filing for its upcoming public offering, unveiling new details including a proposed share price range offering size. The offering could set a fully diluted valuation of up to $1.4 trillion for the San Francisco company. Anthropic’s expected valuation comes in belo