Advances in generative AI have taken the tech world by storm. Biotech investors are making a big bet that similar computational methods could revolutionize drug discovery. On Tuesday, ARCH Venture Partners and Foresite Labs, an affiliate of Foresite Capital, announced that they incubated Xaira Therapeutics and funded the AI biotech with $1 billion. Other investors…
IBM wisely gravitated away from trying to be a pure cloud infrastructure vendor years ago, recognizing that it could never compete with the big three: Amazon, Microsoft and Google. It has since moved onto helping IT departments manage complex hybrid environments, using its financial clout to acquire a portfolio of high-profile companies. It began with…
Sanlo, a fintech startup that helps gaming companies manage finances, announced Wednesday the closed beta launch of its webshop tool, giving select game developers and studios a plug-in-play solution that works alongside their existing tech stacks. Gaming companies can join the waitlist starting today. With Google and Apple charging a 30% fee for in-app purchases…
Madica, an investment program launched by US-based investor Flourish Ventures to back pre-seed startups in Africa, plans to invest in up to 10 ventures by the end of the year, ramping up its funding efforts after closing three initial deals. Madica disclosed the plans to TechCrunch indicating accelerated investing in the coming year as it…
The Senate passed a bill, included with the foreign aid package, that will ban TikTok if its owner, ByteDance, doesn’t sell it within a year. Senators passed the bill 79-18 Tuesday after the House passed it with overwhelming majority over the weekend. President Joe Biden will have to sign the bill to make it law,…
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and “numerous challenges” cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Analysts polled by Yahoo Finance…
Apple just dropped an invite for its next event. Scheduled for May 7, the “Let Loose” presentation appears to be happening exclusively online – something that became standard fare for the company during the pandemic. Over the last couple of years, however, Apple has returned to in-person events, including WWDC, which kicks off in Cupertino…
Firefly, Adobe’s family of generative AI models, doesn’t have the best reputation among creatives. The Firefly image generation model in particular has been derided as underwhelming and flawed compared to Midjourney, OpenAI’s DALL-E 3, and other rivals, with a tendency to distort limbs and landscapes and miss the nuances in prompts. But Adobe is trying…
Rivian is offering discounts up to $5,000 on its EVs — and a year of free charging — to customers willing to trade in their gas-powered trucks and SUVs. The deal, which kicked off April 22, is aimed directly at some of the best-selling and most ubiquitous gas-powered trucks and SUVs on the market today,…
A vulnerability in a smart access control system used in thousands of U.S. rental homes allows anyone to remotely control any lock in an affected home. But Chirp Systems, the company that makes the system, has ignored requests to fix the flaw. U.S. cybersecurity agency CISA went public with a security advisory last week saying…
