Big Tech Says Ai Is Booming. Wall Street Is Starting To See A Bubble.
Venture capitalists have poured billions of dollars into AI start-ups. The boom has helped contribute to the $55.6 billion that venture investors put into U.S. start-ups in the second quarter of 2024.
Tech Billionaires Can’t Build Their ‘california Forever’ City Yet
Apparently AI-generated artwork that was first used to promote California Forever’s city. | Image: California Forever
California Forever tech billionaire-backed plan to build a new city 60 miles away from San Francisco is on hold for at least two years, pending an environmental impact study, reports The New York Times.
War And Rising Nationalism Is Expected To Spur A Venture Capital Boom In A One-time Silicon Valley 'taboo' Sector: Defense Tech | Fortune
Software startups won’t be as good of an investment in the coming decades, according to several investors. :
Geopolitical flare ups are helping to temper venture capital’s decades-long love affair with software and spark a greater interest in defense technology, according to several startup investors. The wars in Ukraine and Israel have spurred venture capitalists to open their pocketbooks for so-called defense tech, the equipment and systems used to defend national interests, according to a report from AIN Ventures. Between 2021 and 2023, investors funneled $108 billion into defense tech companies, the Washington Post reported in February, citing PitchBook data.
Trump, Vance Campaign Eyes Peter Thiel’s Support As Tech Billionaire Stays Mum
Peter Thiel has been a long-time donor to the Republican Party, and despite being one of President Trump’s biggest supporters in 2016, he’s recently soured on the former president.
Legendary Venture Capitalist Mike Maples Jr. Has Revealed The One Thing World-changing Startups Have In Common. Use It To Spot The Next Winners In The Age Of Exponential Tech | Fortune
As Maples and Ziebelman emphasize in their insightful book, better ideas don’t have a massive impact—remarkably different ideas do. :
In 1901, George Melville, the U.S. Navy’s chief engineer, dismissed aviation as a “useless dream.” Two years later, the New York Times predicted human flight might take millions of years to achieve. Yet, just 69 days after this dire forecast, the Wright brothers soared at Kitty Hawk, North Carolina, proving that true breakthroughs come from those who defy conventional wisdom and dare to break patterns. True innovation comes from challenging the status quo and thinking beyond conventional wisdom.
Retirement Tech Startup Notches $1.33B Valuation
Human Interest helps small businesses set up 401(k) services. :
(Bloomberg) -- Financial technology startup Human Interest Inc. has raised a new funding round at a $1.33 billion valuation as it expands its retirement services. The company’s latest financing brought in $267 million in a combination of equity and debt in a deal led by investment firms Marshall Wace and Baillie Gifford, the startup plans to announce Wednesday. Founded in 2015, Human Interest saw a market opportunity for small businesses to offer 401(k) plans as an employment benefit, said Chief Executive Officer Jeff Schneble.
Nvidia, Pfizer Lead $80M Funding For Israeli Medical Ai Tech Firm Cytoreason - Cna
FILE PHOTO: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/File Photo JERUSALEM : Israel's CytoReason, which uses AI to develop disease models, said on Wednesday it had raised $80 million in a private funding round. Nvidia, Pfizer, Thermo Fisher and venture capital investor OurCrowd participated in the round, CytoReason said. The company said it aims to expand the application of its models into additional indications and grow its proprietary molecular and clinical data.
Andreessen Horowitz Founders The Latest To Stake Trump, As Tech Money Piles Into His Coffers
Andreessen Horowitz, one of the best-known firms in tech, has been stepping up its Washington lobbying footprint. :
Venture capital investors Marc Andreessen and Ben Horowitz plan to donate a significant amount to Donald Trump’s campaign for president, according to a person familiar with their plans, making the famous VC duo the latest tech investors to throw their support to the Republican. The leaders of the eponymous Silicon Valley firm Andreessen Horowitz are still evaluating which Trump-affiliated organization or organizations to back and will make the decision shortly, said the person, who asked to remain anonymous discussing private information.
Buildots, Ai-driven Construction Technology Leader, Secures $15M Intel Capital-led Investment To Fuel Strategic Growth
SANTA CLARA, Calif., July 11, 2024 /PRNewswire/ -- Today, Buildots, an award-winning AI construction software company, announced a $15M investment led by Intel Capital with participation from OG Tech Partners and previous investors. In conjunction with the financing, Lisa Cohen, Investment Director at Intel Capital, will join as a board observer. Innovation in the construction industry is essential for overcoming traditional inefficiencies and enhancing performance measurement strategies. Given the complexity, cost, and productivity challenges inherent ...Full story available on Benzinga.com.
Tyneside Tech Firm Tsg Completes Mbo With Multimillion-pound Investment
The deal represents an exit for its co-founders Sir Graham Wylie and David Stonehouse. :
The founders of a Gateshead software firm – including Sage co-founder Sir Graham Wylie – have sold the business in a multimillion-pound management buy-out. Team Valley based Technology Services Group (TSG), a Microsoft Solution Partner focused on SMEs, has been acquired in an MBO following a significant investment from Pictet Alternative Advisors. The firm’s CEO Rory McKeand and his leadership team have partnered with Pictet to snap up the business from Sir Graham and other shareholders.