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☆ Anne Dwane has been a jack-of-all-trades in the startup world. Here's how that's helped her build a successful investing career.
▼ + stars: | 2024-05-06 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +5 min

Over the course of 20 years, Anne Dwane has made a name for herself as a successful entrepreneur and executive. For Dwane, her career as a startup founder and operator helped her find success as an early-stage investor. Dwane left Monster in 2008 to become the CEO of Zinch, an edtech startup that helped colleges recruit and students find programs and scholarships. With the guidance of a mentor, Chegg's CEO Dan Rosensweig, the experience also helped her understand that her superpower lay in helping early-stage companies grow. Village Global is an early-stage fund that leads seed and pre-seed funding rounds.

Persons: Anne Dwane, she's, Reid Hoffman, Jeff Bezos, Bill Gates, Mark Zuckerberg, Dwane, I've, Chegg, Dan Rosensweig Organizations: Monster Worldwide, Business, Village, Georgetown University, Harvard Business School, Research, Monster, Accelerator Fund, Brightside, Airbase Locations: Palo Alto , California, Chegg

☆ Tesla's 'apocalypse-proof' Cybertruck thwarted by sand, snow, and regulator recalls
▼ + stars: | 2024-05-06 | by ( Camilo Fonseca | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

This story is available exclusively to Business Insider subscribers. AdvertisementBut on May 2, a tourist on Nantucket found their Cybertruck trapped in the sand, requiring a tow truck to free it. According to the tow operator, the driver made one crucial error: He forgot to let air out of the tires. The tow operator said the safe spot for beach driving is between 18 and 22 psi. Representatives for Tesla did not immediately respond to a request for comment from Business Insider.

Persons: —, hasn't, Elon Musk, Tesla, who've, There's, Marques Brownlee, Michael Brooks, Myles Russell Organizations: Service, Business, Traffic, NHTSA, Center for Auto Safety Locations: Nantucket, Canadian

☆ AB InBev is making another push into Hollywood-style entertainment with a new primary partner
▼ + stars: | 2024-05-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

AB InBev is pushing into filmed entertainment again. It's leaning on Superconnector Studios to pitch its brands to Hollywood. AdvertisementAB InBev is renewing its filmed entertainment efforts with a new primary partner after shaking up its studio arm, the company confirmed to Business Insider. The beer giant signed startup Superconnector Studios to pitch TV shows and movies around its biggest brands like Bud Light and Stella Artois. This story is available exclusively to Business Insider subscribers.

Persons: —, Bud Light, Stella Artois, Jae Goodman, John Kaplan Organizations: InBev, Studios, Hollywood, Service, Business

☆ A tax compliance startup raised millions. Then it abruptly shut down, and the founder cut off contact.
▼ + stars: | 2024-04-29 | by ( Ben Bergman | ) www.businessinsider.com time to read: +13 min

Even the human-resources firm retained to help employees with offboarding, Tandem, quit soon after the layoffs because it never got paid. Shannon Flynn Bevers, Tandem's president and founder, said that she tried to help employees but that Johnson stopped responding. "When startups go out of business, they will pay employees their final paycheck. Johnson told employees to take a weeklong furlough and blamed the issue on a technical snafu. She also told employees they could file a claim with their state labor department or hire an employment lawyer.

Persons: Slack, Shiloh Johnson, Johnson, they'd, Benjamin Matthews, Shannon Flynn Bevers, I've, Flynn Bevers, VCs, Josh Felser, Aerin Paulo, ComplYant's, I'd, ComplYant, podcaster David Sacks, Michael Tam, Tam, Matthews, Ryan Cady, Lusely Martinez, Martinez, Cady, paychecks, wasn't, Taliah McGuire, McGuire, what's, Shiloh Luckey, Penelope, We've Organizations: Business, offboarding, . Venture, BI, Craft Ventures, ComplYant, Mucker, Slauson, — Mucker, Fika Ventures, Employees Locations: Los Angeles, Shiloh, San Francisco, Colorado, New York, TikTok

☆ Exclusive: VC firm and startup studio Redesign Health eyes a fresh $250 million fundraise
▼ + stars: | 2024-04-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

VC firm Redesign Health is targeting $250 million in its latest fundraising push. The health-focused investor and accelerator last raised $65 million in September 2022. The health-focused venture firm and startup studio is targeting a $250 million raise, according to three people with knowledge of the efforts. Redesign previously grabbed $250 million for itself and its portfolio companies, including $100 million in Series B funding, in March 2021. Most recently, the firm landed $65 million in Series C funding for itself in September 2022.

Persons: — Organizations: Health, Service

☆ Forget Nvidia: Morgan Stanley says Intel's much-hyped AI chip will boost 3 global stocks
▼ + stars: | 2024-04-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The launch of Intel 's latest artificial intelligence chip is expected to benefit three global semiconductor companies, according to Morgan Stanley. The semiconductor giant said the latest chip is twice as power-efficient and can run AI models one-and-a-half times faster than Nvidia's H100 GPU – the flagship product from the current AI chip market leader. In a research note Monday, the Wall Street bank said Taiwanese companies TSMC , Alchip , and Wistron are likely to be the biggest beneficiaries of the demand for Intel's Gaudi chips. In its note, Morgan Stanley reiterated its overweight rating on Alchip and TSMC, considering them long-term winners of AI semiconductor demand. The analysts are overweight on Wistron too, noting that Nvidia's new Blackwell GB200 AI chip will also drive immediate growth for the Taiwanese electronics manufacturer.

Persons: Morgan Stanley, Gaudi, Alchip, Wistron, Morgan Stanley's, Charlie Chan, Blackwell, — CNBC's Michael Bloom Organizations: Intel, Gaudi, Dell, Hewlett Packard Enterprise, Lenovo, Microsoft, Google Locations: United States

☆ Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs
▼ + stars: | 2024-04-22 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Tesla shares fell for a seventh straight day, reaching their lowest since January 2023, as further price cuts over the weekend added to mounting concerns heading into the company's first-quarter earnings report Tuesday. Tesla also lowered the price of its premium driver assistance system by one-third. The price cut follows a monthlong free trial that Tesla pushed out to customers throughout North America starting in late March. "Since late 2023, sentiment on Tesla (TSLA) has deteriorated," John Murphy, an analyst at Bank of America, wrote in a note on Monday. WATCH: Tesla stock hits 52-week low ahead of earnings

Persons: Elon Musk, Tesla, John Murphy, Murphy, Joseph Spak, Spak, — CNBC's Michael Bloom Organizations: New York Times, Jazz, Lincoln Center, North America, National, Traffic Safety Administration, CNBC, Bank of America, Reuters, UBS, EV, Traders, S3 Partners, Apple Locations: New York City, U.S, China, Europe

Tesla investors’ nerve-racking rideTesla has hardly been keeping quiet as it prepares to announce earnings on Tuesday. These developments are the latest signs that Tesla is confronting its toughest stretch in years — and many shareholders aren’t convinced that the company and its C.E.O., Elon Musk, are taking the right steps to address it. The latest: During the weekend, Tesla cut prices of several models in China, the U.S. and Europe. Those moves came a day after Tesla voluntarily recalled nearly 4,000 Cybertrucks over a faulty accelerator pedal that could get stuck. It’s all apparently keeping Musk so busy that he canceled a trip to India, during which he was expected to meet with Prime Minister Narendra Modi and announce plans to build a factory there.

Persons: Tesla, aren’t, Elon Musk, Narendra Modi Locations: China, U.S, Europe, India

☆ Investors are fearful. They shouldn’t be
▼ + stars: | 2024-04-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

The economy has been extraordinarily resilient for the past few years — consistently proving the naysayers wrong, he says. For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong. Investors have been worrying about the Federal Reserve keeping rates higher for longer. I speak with many institutional investors, and I don’t see them folding in fear. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.

Persons: ”, Philipp Carlsson, there’s, Carlsson, Szlezak, they’re, I’m, it’s, I’ve, we’re, TikTok, Brian Fung, Joe Biden, Tesla, Chris Isidore, Peter Valdes Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Boston Consulting, ByteDance, NHTSA Locations: New York, Europe, Ukraine, Israel, Washington

☆ Tesla's $100,000 Cybertruck needs a hole drilled through the accelerator pedal for safety
▼ + stars: | 2024-04-22 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Tesla has a solution to the Cybertruck gas pedal issue that caused a recall. A user on X posted a 35-second video drilling a hole into the gas pedal to fix the issue. AdvertisementTesla has a solution to the gas pedal problem that caused the company to hit the brakes on Cybertruck deliveries. According to Tesla's recall bulletin, when a high amount of force is applied to the gas pedal, the pad may slip off and get trapped in the interior rim above the pedal. The "35 second recall fix," shows a worker drilling a hole into the gas pedal and securing the pad with a rivet.

Persons: Tesla, — Organizations: Service, Tesla, Santa Locations: California, Santa Clarita Valley

☆ This AI startup that helps stores catch shoplifters just bagged $1.5 million in pre-seed funding without using a pitch deck
▼ + stars: | 2024-04-22 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

MokSa.ai uses general-use models and customizes them to detect suspicious activity at store locations. The company also pays college interns in India to watch footage for suspicious activity and annotate it — a process called data labeling. The dashboard shows reports of suspicious activity at a glance. MokSa.aiThe Android of the surveillance marketBefore MokSa.ai, Kolli worked as a quality manager at a company producing parts for high-speed rails. While these two tout their abilities to detect suspicious activity and send alerts, they both require customers to use their cameras and sensors.

Persons: —, Nikhil Teja Kolli, Kolli, Jay Farner, MokSa.ai, MokSa.ai Kolli, Shruti Gandhi, Gandhi, It's Organizations: Service, Business, Array Ventures, Quicken Loans, The Fund, Ventures, Royal Ozarks Locations: Kansas, India, Detroit

☆ Elon Musk cancels trip to India as Tesla struggles at home
▼ + stars: | 2024-04-20 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

AdvertisementElon Musk has postponed his trip to India amid the ongoing chaos at Tesla. The Tesla CEO was expected to visit India early next week to meet with Prime Minister Narendra Modi. Musk wants to build a new factory in India, where the EV market is tiny but gaining steam, thet outlet reported. BI reported in early April that Musk's Tesla has struggled to compete in China's EV market as rival companies make "aggressive price cuts." Musk wrote on X that Tesla was unaware of any "injuries or accidents" related to the problem.

Persons: Elon, Tesla, Cybertruck, —, Elon Musk, Narendra Modi, Musk, Antonio Masiello, Musk's Tesla, Justin Sullivan Organizations: Service, Getty, Reuters, EV, Business Locations: India, China

☆ Tesla recalls Cybertruck due to accelerator pedal that can stick
▼ + stars: | 2024-04-19 | by ( Chris Isidore | Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —Tesla has been ordered to recall nearly 4,000 of its Cybertrucks due to an accelerator pedal that can stick in place when pressed down. “An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document. On Monday, NHTSA told CNN it had reached out to Tesla requesting more information on the issue. Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update.

Persons: New York CNN — Tesla, Tesla, Telsa Organizations: New, New York CNN, NHTSA, National, Traffic Safety Administration, CNN Locations: New York, Austin , Texas

☆ Tesla recalls Cybertruck over 'trapped pedal' issue seen in owner's viral TikTok video
▼ + stars: | 2024-04-19 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla's new Cybertruck is shown on display at a Tesla store in San Diego, California, on Dec. 9, 2023. Tesla has issued a voluntary recall of 3,878 Cybertrucks to fix a "stuck pedal" issue that had been depicted in a viral TikTok video posted last week by owner Jose Martinez. After assessing the problem, Tesla on April 12 decided to issue a voluntary recall of the Cybertrucks, the filing says. CNBC asked the NHTSA about the trapped pedal issue on the Cybertruck on April 14, after Martinez's video raised public awareness of the defect and unintended acceleration. The NHTSA said it "uses many data sources in its enforcement processes, including social media and vehicle owner and other related forums."

Persons: Tesla, Jose Martinez, Elon Musk Organizations: National, Traffic Safety Administration, CNBC, NHTSA Locations: San Diego , California

☆ Tesla is recalling almost 4,000 Cybertrucks over a fault that could cause the accelerator to jam open
▼ + stars: | 2024-04-19 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Tesla is voluntarily recalling almost 4,000 Cybertrucks, NHTSA said. The affected vehicles have a fault with their accelerators that could cause the pedal to jam, it said. Tesla said it was not aware of any collisions, injuries, or deaths related to the fault. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla is voluntarily recalling almost 4,000 Cybertrucks over a fault with their accelerators, the US National Highway Traffic Safety Administration said.

Persons: Tesla, — Organizations: NHTSA, Service, Traffic Safety Administration, Business

☆ Cybertruck owner shares his experience with a stuck accelerator pedal
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCybertruck owner shares his experience with a stuck accelerator pedalHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC

☆ Trump's hush-money trial is set to heat up
▼ + stars: | 2024-04-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's newsletter, we're looking at the first week of former President Donald Trump's criminal trial and what's at stake. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementFormer President Donald Trump's hush-money trial — the first-ever criminal trial of a former president — got underway this week with jury selection . We did get a preview of Trump's potential defense: " Some accountant " handled the paperwork he's on trial for, Trump told reporters. AdvertisementThe trial is focused on 34 felonies alleging the Trump Organization's business records were falsified to hide other crimes.

Persons: —, Donald Trump's, CHARLY TRIBALLEAU, Drew Angerer, Tyler Le, Trump, Stormy Daniels, Daniels, Zelei, Loretta Mester, John Williams, Rebecca Zisser, David Lieb, Sundar Pichai, Demis, Google's, BI's Ben Bergman, Eddie Mulholland, Alyssa Powell, Samsung execs, Taylor Swift's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Getty, Trump, Cleveland Fed, York Fed, …, Bank of America, Google, Android, Bankers, Jefferies, Investor Conference, Samsung, Korea Economic, Disney, Warner Bros, American Express, Procter, Gamble, Poets Department Locations: Israeli, Iran, Israel, Florida, Korea, New York, London

☆ Tesla Will Recall Cybertruck in Latest Setback
▼ + stars: | 2024-04-19 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Tesla has agreed to recall nearly 4,000 of its Cybertruck pickups to fix an accelerator pedal that can get stuck, raising the risk of crashes, a federal safety agency said on Friday. The defect could cause the vehicle to accelerate unintentionally, the National Highway Traffic Safety Administration said in a notice posted on its website. Tesla started selling the Cybertruck, its first pickup truck, in November after many delays. The recall is yet another setback for Tesla, the largest electric vehicle manufacturer in the United States. Tesla’s recent troubles have unnerved investors, and the company’s stock has fallen roughly 40 percent so far this year.

Persons: Tesla Organizations: Traffic Safety Administration Locations: United States

☆ The man who led Google Photos to 1 billion users is now the newest group partner at Y Combinator
▼ + stars: | 2024-04-18 | by ( Melia Russell | ) www.businessinsider.com time to read: +7 min

Lieb, having a background in semiconductors and not server management, reached out to his fellow Y Combinator founders for support. After a year and a half of advising at the accelerator, he's stepping up as a group partner, Y Combinator tells Business Insider exclusively. It was never released, but many of the ideas would later come back in the form of Google Photos. From there, he reached into the Y Combinator alumni network to find other promising upstarts. David Lieb, second from left, speaks to a group of Y Combinator founders.

Persons: David Lieb, Lieb, Alex Polvi, Combinator —, Garry Tan, Jared Friedman, Harj Taggar, Michael Seibel, Sam Altman, it's, Y Combinator, " Lieb, Dan Lieb, Y, Xoogler, Patrick, John Collison's, Mixpanel, Jake Mintz, Forbes, Kevin Systrom, Flock, Andy Huibers, Mary, 72m2YgJZq8 — David Lieb, Ryan Peterson, He's Organizations: Apple, Business, Investors, Google Locations: Cloudkick, San Francisco, Silicon Valley, Flexport

The firm initiated coverage on the stock with a buy rating and $60 price target, implying 37.2% upside from where shares closed on Monday. Analyst Mark Lipacis has a target price of $1,160 on shares, suggesting around 35% upside from where shares closed on Monday. However, it kept its $9 price target, which implies upside of just 7.7% over the next 12 months. The stock price now better considers some of our midterm concerns," worte analyst Joseph Spak. Analyst Frank Lee also raised his price target to $225 from $180, implying shares rallying nearly 38% from Monday's close.

Persons: Rivian, Goldman, DraftKings, Goldman Sachs, Ben Miller, Miller, — Hakyung Kim, Joe Ritchie, Ritchie, Nvidia isn't, it's, Mark Lipacis, Lipacis, Hakyung Kim, hasn't, Nicole DeBlase, DeBlase, Joseph Spak, we'd, Fred Imbert, Frank Lee, Lee, Nvidia's GB200 Organizations: CNBC, UBS, HSBC, AMD, US Online Gaming, GE, GE Vernova, General Electric, Nvidia, ISI, Honeywell, Deutsche Bank, Deutsche, Rivian Automotive Locations: NVDA, Monday's

☆ A Cybertruck owner's video claiming a stuck accelerator pedal attracts the attention of US safety regulator
▼ + stars: | 2024-04-16 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

A Tesla Cybertruck owner said his accelerator got stuck on full throttle while he was driving. The National Highway Traffic Safety Administration said it's in touch with Tesla over the issue. The Cybertruck owner called it a "serious problem" but said he still likes the vehicle. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Jose Martinez, who is based in California, posted a video to TikTok on Sunday, saying he experienced a "serious problem" with his Cybertruck and describing what happened.

Persons: Tesla, —, Tesla's, Jose Martinez Organizations: Traffic Safety Administration, Service, Business Locations: California

☆ Tesla is headed to trial, where a jury will soon decide whether it's to blame for a 2-year-old crashing a model X into his pregnant mom
▼ + stars: | 2024-04-14 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +9 min

Read previewIs Tesla to blame for a toddler crashing his family's Model X SUV into his pregnant mother, injuring her? California mom alleges that the Tesla Model X was 'defective'In 2019, California mother Mallory Harcourt filed a lawsuit against Tesla over the incident, accusing it of negligence, consumer fraud, and product liability. "In no uncertain terms, Ms. Harcourt's own actions caused her injuries, and not any defect in Model X's design," Tesla's attorneys wrote. AdvertisementHarcourt's son "pressed the accelerator pedal, and the Model X moved forward slowly," the lawyers said. The Model X, the lawyers wrote in the brief, "functioned exactly as designed and very likely saved Ms. Harcourt's life."

Persons: —, Elon, Mallory Harcourt, Tesla, Harcourt, Santa Barbara, Getty, Mallory, Ms, Harcourt negligently, Tesla's, Harcourt's, Barrett Riley, Riley Organizations: Service, Business, Tesla, Santa, Chicago Tribune Locations: California, Santa Clara, Park, Florida

☆ AI is threatening Americans’ jobs. Could guaranteed income provide a safety net?
▼ + stars: | 2024-04-13 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +12 min

That idea of guaranteed income is receiving renewed interest as AI becomes an increasing threat to Americans’ livelihoods. As more Americans’ jobs are increasingly at risk due to the threat of AI, Tubbs and other proponents of guaranteed income say this could be one solution to help provide a safety net and cushion the expected blow AI will have on the labor market. “Then, when we have to deal with that job displacement, we’re better positioned to do so.”Silicon Valley’s infatuation with guaranteed incomeThe idea of a guaranteed income is not new. AFP/Getty ImagesDecades after King’s death, the idea of guaranteed income went on to see a resurgence of support emanating out of Silicon Valley. Other tech industry tycoons, including Twitter co-founder Jack Dorsey, have also thrown immense financial support behind guaranteed income programs.

Persons: CNN — Michael Tubbs, Tubbs, ”, “, ” Michael Tubbs, Nick Otto, ” Tubbs, Nathan Frandino, Let’s, Martin Luther King, Jr, I’m, ” King, King, Elon Musk, Mark Zuckerberg, Sam Altman —, Musk, Rishi Sunak, Zuckerberg, ” Altman, Altman, Sam Altman, Justin Sullivan, Elizabeth Rhodes, Jack Dorsey, Dorsey, Ken Paxton, ” Paxton, overreach, ‘ It’s, ’ Tomas Vargas Jr, Vargas, I’ve, that’s, ” Tomas Vargas Jr, Tomas Vargas Jr, ” Vargas Organizations: CNN, Getty, Global, Monetary Fund, Reuters, Stockton, Civil Rights, Washington DC, Elon, “, UK, Harvard, Facebook, YCombinator, Twitter, UPS Locations: Stockton , California, Silicon Valley, Big, America, Stockton, AFP, San Joaquin, U.S, Washington, Alaska, YCombinator, San Francisco , California, United States, Texas, Harris, Harris County

☆ The race for ever-cooler workplaces is leaving employees the winners
▼ + stars: | 2024-04-10 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKat Hunt never wanted to work from home. Hunt, whose job is in finance in Portland, Oregon, needed a place for some team members to gather in New York City. Hunt wanted a spot that wasn't your typical WeWork or similar. Courtesy Kat Hunt and Radious"I was allowed to work from home, but I never wanted to," Hunt said.

Persons: —, Kat Hunt, Hunt, Radious, Amina Moreau, Moreau, Combinator, Ryan Masiello, That's, Googlers, Clelia Warburg Peters, It's Organizations: Google, JPMorgan, Service, Earth Finance, San, Francisco's Pier, Ventures Locations: luxe, Portland , Oregon, New York City, Portland, Brooklyn, San Francisco, Portland , Milwaukee, San Francisco Bay, New York, Mountain View , California, Francisco's

☆ Meta debuts new generation of AI chip
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +1 min

Meta Platforms unveiled details on Wednesday about the next generation of the company's in-house artificial intelligence accelerator chip. Reuters reported earlier this year that Meta planned to deploy a new version of a custom data center chip to address the swelling amount of computing power necessary to run AI products in Facebook, Instagram and WhatsApp. The chip, referred to internally as "Artemis," will help Meta reduce its reliance on Nvida's AI chips and reduce its energy costs overall. The new Meta Training and Inference Accelerator (MTIA) chip is part of a broad custom silicon effort at the company that includes looking at other hardware systems too. Beyond building the chips and hardware, Meta has made significant investments in developing the software necessary to harness the power of its infrastructure in the most efficient way.

Persons: Meta, Artemis Organizations: Reuters, Facebook, Meta

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