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☆ OpenAI ranks fourth among top tech vendors that IT leaders plan to spend the most with, survey finds
▼ + stars: | 2024-11-17 | by ( Helen Li | ) www.businessinsider.com time to read: +2 min

AdvertisementOpenAI ranks fourth among vendors that IT leaders plan to spend the most with, per a Flexera survey. The report surveyed 800 IT leaders on their priorities for the coming year. OpenAI ranks fourth among top vendors that IT leaders are currently or planning to spend the most with next year, according to a newly released industry report. Flexera, a software asset management company, released its 2025 IT Priorities Report based on a survey of 800 IT leaders from the US, the United Kingdom, Germany, and Australia. This was the first year that OpenAI debuted on the survey list as an option.

Persons: OpenAI Organizations: Microsoft, Google, Amazon Web Services, Oracle, Khosla Ventures, Tiger, Nvidia Locations: United Kingdom, Germany, Australia

☆ Inside the Quest to Make Fusion Energy a Reality
▼ + stars: | 2024-11-15 | by ( Raymond Zhong | ) www.nytimes.com time to read: +15 min

The Quest to Build a Star on Earth Start-ups say we’re closer than ever to near-limitless, zero-carbon energy from fusion. Today’s fusion start-ups aren’t just preparing for this moment in the lab. Such advances helped the Lawrence Livermore National Laboratory produce more fusion energy than the energy in the incoming laser beams, for the briefest of moments, in 2022. They also helped European researchers generate record amounts of fusion energy at a facility in Britain last year. What worries researchers is how much some fusion start-ups are promising, and how soon.

Persons: General Atomics, Lawrence, —, Charles Darwin’s, Lord Kelvin, Darwin, Arthur Eddington, Nicolas Tucat, Bill Gates, Jeff Bezos, Vinod Khosla, Sam Altman, Kitty, presale, Gerald Navratil, Navratil, “, it’s, ”, Robert Goldston, you’ve, David James Bartho, Simon Simard, Tony Stark, Robert Downey Jr, Stark, Bob Mumgaard, Mumgaard, Brandon Sorbom, Sorbom, “ We’re, Dr, Earl Marmar, Thea Energy, Salvador Dalí, Cary Forest, Grant Hindsley, Richard Magee, “ It’s, Jean Paul Allain, there’s, Steven Cowley, Cowley, ” David Gates, you’d, Gates, ” Thea, Thea, Eos Organizations: Nuclear Fusion Facility, Lawrence Livermore National Laboratory, Agence France, Princeton University, University of Sydney, Underwood Archives, Getty, Fairfax Media, Commonwealth Fusion Systems, SPARC, The New York Times, ARC, Commonwealth, The New York, Dawn Princeton Plasma Physics, tokamaks, That’s, Massachusetts Institute of Technology, Energy, Thea, Zap Energy, Helion, Microsoft, General Fusion, West, Technologies, Department of, Princeton Plasma Physics Locations: France, Columbia, Princeton, Harwell , England, Britain, Massachusetts, Russian, Commonwealth, Seattle, Vancouver, Southern California

☆ The youngest member of Goldman's 2024 partner class takes us inside his big day, from his call with President John Waldron to celebrating with his boss
▼ + stars: | 2024-11-09 | by ( Reed Alexander | ) www.businessinsider.com time to read: +6 min

Feroz Khosla, part of Goldman Sachs' financing group, was named a Goldman partner on Thursday. AdvertisementFeroz Khosla was seated at his desk at Goldman Sachs' lower Manhattan headquarters when the call came in. AdvertisementGoldman Sachs partners comprise the firm's highest-ranking executives outside the C-Suite, responsible for units representing billions of dollars in business. At one point, someone leaned over and said to Khosla's wife: "Welcome to the family," he said. "Goldman Sachs was the first family that I really had when I left India," he said, adding: "Frankly, it's the only jersey I want to wear."

Persons: Feroz Khosla, Goldman Sachs, Goldman, Khosla, —, John Waldron, Waldron, He's, David Solomon, Michael Kovac Champagne toasts, Manhattan . Khosla, Vivek Bantwal, Bantwal, he'd, Lucy, Reed Alexander Organizations: Service, Manhattan ., Education Locations: Manhattan, India, America

☆ See the 95 executives Goldman Sachs tapped to join its exclusive partnership — a record high under David Solomon
▼ + stars: | 2024-11-07 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New

Persons: Goldman Sachs, David Solomon, —, Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong

While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.

Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe

☆ Silicon Valley's Trump boosters celebrate: 'It's time to build'
▼ + stars: | 2024-11-06 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Tech leaders who openly supported Donald Trump took to X to celebrate his win Wednesday morning. AdvertisementAs former president Donald Trump swept to victory Wednesday morning, supporters in Silicon Valley posted messages of congratulations and even gloated over his return to the Oval Office. Some of tech's most high-profile and wealthiest names offered their first reactions after major news networks called the race for Trump. The billionaire owner of X and Tesla watched the election results roll in with Trump from Mar-a-Lago. AdvertisementMarc Andreessen, an early Facebook and Coinbase investor via his firm Andreessen Horowitz, had a curious relationship with Trump.

Persons: Donald Trump, Keith Rabois, —, Chamath Palihapitiya, Shaun Maguire, Trump . Elon Musk, Tesla, Joe Biden, Israel —, Musk, Trump, Doug Leone, Joe Lonsdale, David Sacks, Obama, Biden, Harris, Sacks, Leone, Marc Andreessen, Andreessen Horowitz, Andreessen Organizations: Tech, Service, tech's, Trump, Trump ., Mar, San Francisco, Republicans, Israel, Craft Ventures, Republican National Convention, Business, Federal, Commission, National Republican, Founders Fund, SpaceX, Khosla Ventures Locations: Silicon Valley, Sequoia, America, San, Pennsylvania, Rabois

☆ Company executives are speaking out on Election Day: Starbucks' Howard Schultz calls for a peaceful transition of power
▼ + stars: | 2024-11-05 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +9 min

Business leaders are speaking out on Election Day — including Starbucks founder Howard Schultz. AdvertisementElection Day has finally come, and executives at some of the biggest companies are speaking out — with former Starbucks CEO Howard Schultz urging a peaceful transition of power and Elon Musk reiterating his support for Donald Trump to the end. Major players like Musk and Blackstone CEO Stephen Schwarzman have previously endorsed former President Trump. "Once every vote is counted and certified, we must accept the results of the election and ensure the peaceful transition of power," he said. In addition to re-posting several pro-Trump messages from other X users, Musk wrote a few election-related posts of his own.

Persons: Howard Schultz, Schultz, Elon Musk, Reid Hoffman, Harris, —, Donald Trump, Stephen Schwarzman, Trump, Mark Cuban, Kamala Harris, Insider's Bryan Metzger, he's, Howard Schultz Howard Schultz, Spencer Platt, Joe Biden, Hillary Clinton, Reid Hoffman Reid Hoffman, Kimberly White, Hoffman, " Hoffman, Marc Piasecki, Musk, Joe Scarborough, Vinod Khosla Vinod Khosla, Steven Ferdman, Vinod Khosla, Kamala, Khosla, Robert F, Kennedy Jr, Cantor Fitzgerald, Howard Lutnick Howard Lutnick, ANGELA WEISS, Howard Lutnick, Lutnick, Palmer Luckey Palmer Luckey, Oculus, Patrick T, Fallon, Palmer, Luckey, Walz, Andrew Bosworth, JOSH EDELSON, Getty Andrew Bosworth, Bosworth, Eli Lilly, Lockheed Martin, General Mills, Johnson Organizations: Starbucks, Trump, Service, Blackstone, Getty, LinkedIn, Greylock Partners, Liberty, SpaceX, Elon Musk Elon, Tesla, Pennsylvania, Billionaire, Sun Microsystems, Wall Street, Philadelphia Inquirer, Financial Times, Bloomberg, Anduril Industries, Meta, Big Tech, National Association of Manufacturers, General Motors, Penske, Panasonic Locations: Jerusalem, Fortnite, AFP

☆ Jeff Bezos just made his latest bet in the AI robotics space. Here are the 6 startups he's backed so far.
▼ + stars: | 2024-11-05 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

BI has compiled a list of which AI robotics startups Bezos has backed so far, per PitchBook. Physical Intelligence is at least the third spatial intelligence startup Bezos has backed this year, according to PitchBook. Related storiesFigure AIFigure AI builds AI robots that can take over unsafe jobs from humans. Bezos invested in an undisclosed funding round in 2021, while Bezos Expeditions invested in its $24 million Series A funding round in 2020. Bezos Expeditions invested in the startup's $30 million Series E in 2017, $40 million Series D in 2015, $30 million Series C in 2012, $20 million Series B in 2010, $7 million Series A1 in 2009, and $5 million Series A in 2008.

Persons: Jeff Bezos, —, Andreessen Horowitz, Bezos, OpenAI Organizations: Service, Khosla Ventures, Intelligence, The New York Times, Bezos Expeditions, New York Times, Sentinel, HAHN Group

☆ Immigration threatens everybody, says Khosla's Keith Rabois
▼ + stars: | 2024-11-05 | 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 EmailImmigration threatens everybody, says Khosla's Keith RaboisKeith Rabois, Khosla Ventures managing director, joins 'Closing Bell: Overtime' to discuss the election, tech trade and economy.

Persons: Khosla's Keith Rabois Keith Rabois Organizations: Khosla Ventures

☆ Jeff Bezos and OpenAI invest in robot startup Physical Intelligence at $2.4 billion valuation
▼ + stars: | 2024-11-04 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Physical Intelligence, a robot startup based in San Francisco, has raised $400 million at a $2.4 billion post-money valuation, the company confirmed Monday to CNBC. Investors included Amazon founder Jeff Bezos, OpenAI, Thrive Capital and Lux Capital, a Physical Intelligence spokesperson said. Physical Intelligence's new valuation is about six times that of its March seed round, which reportedly came in at $70 million with a $400 million valuation. Physical Intelligence hopes that model will be the first step toward its ultimate goal of developing artificial general intelligence. In case studies, Physical Intelligence details how its tech could allow a robot to do laundry, bus tables or assemble a box.

Persons: Sam Altman, Jeff Bezos, OpenAI, Microsoft's Bing Organizations: Economic, Amazon, Change, Physical Intelligence, CNBC, Investors, Lux Capital, Khosla Ventures, Sequoia Capital, Tesla, Google, Intelligence Locations: Davos, Switzerland, Glasgow, Scotland, Britain, San Francisco, ChatGPT

☆ Exclusive: Legal tech startup Genie AI just raised $17.8 million in a Google Ventures-led round with this 13-slide deck
▼ + stars: | 2024-10-23 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Legal tech startup Genie AI has secured $17.8 million from Google Ventures and Khosla Ventures. AdvertisementLegal tech startup Genie AI has just secured a $17.8 million Series A from Google Ventures and Khosla Ventures. "The main issue that lawyers have is that they are always overworked and understaffed," said Rafie Faruq, the cofounder and CEO of Genie AI. The Series A round, led by early OpenAI-backer Khosla Ventures and Google Ventures, the VC arm of Google parent company Alphabet, takes the startup's total funding to around $20 million. Genie AI said the cash injection will allow it to expand in the US.

Persons: Rafie Faruq, —, Michael Lacorazza, Faruq, Genie, We're, AI, Harvey, It's, we'll Organizations: Google Ventures, Khosla Ventures, Service, Genie, Bank, Microsoft, Google Locations: London

☆ Ex-Twitter CEO Parag Agrawal has moved his AI startup out of stealth, calling it Parallel
▼ + stars: | 2024-10-21 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Parag Agrawal updated his LinkedIn page with his AI startup's name for the first time: Parallel Web Systems. The ex-Twitter CEO raised about $30 million for the startup, The Information reported in January. AdvertisementThe former CEO of Twitter has moved his AI startup out of stealth mode with a previously unknown name: Parallel Web Systems. Agrawal raised about $30 million for the startup, The Information reported in January when the startup's name was still unknown. From Twitter to AI startupAgrawal was the CEO of Twitter from November 2021 to October 2022, when Elon Musk fired him following his acquisition of the platform.

Persons: Parag Agrawal, Parallel's, —, Agrawal, Elon Musk, Kurt Wagner's, Wagner, Musk, Ned Segal, Vijaya Gadde, Sean Edgett Organizations: Systems, AIs, Service, Twitter, Khosla Ventures, Index Ventures, LinkedIn, Company, Shapley Inc, Business Locations: Palo Alto , California, San Francisco

☆ Britain faces warnings of a tech exodus over tax plans ahead of high-stakes budget
▼ + stars: | 2024-10-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Last week, U.K. Prime Minister Keir Starmer told Bloomberg that such speculation was "wide of the mark." Several entrepreneurs and investors have warned that the U.K. could face an exodus of technology entrepreneurs as a result of the reported tax changes. Calling the government's plan on capital gains tax the "biggest" issue for entrepreneurs, Stebbings said: "I know fewer entrepreneurs will be here. Not everyone agrees that capital gains tax shouldn't be increased to raise public finances. The analysis found that capital gains tax was not a primary driver of investment decisions, with entrepreneurs more focused on issues like access to financing, market opportunities and broader economic conditions.

Persons: Rachel Reeves, Keir Starmer, Reeves, Giles Andrews, Rishi Khosla, Victor Riparbelli, I've, Adam French, Harry Stebbings, Stebbings Organizations: Britain's, Getty, LONDON, Guardian, Bloomberg, Times, CNBC, Treasury, The Entrepreneurs Network, for Public, Research Locations: British, BADR, Europe, Paris, Berlin, U.S

☆ Venture capital is going to war over the election. Here's the data to prove it.
▼ + stars: | 2024-10-19 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +10 min

VCs are lobbing cash at the presidential election and key congressional races, FEC data shows. This election cycle, investors at the top venture capital firms have plowed tens of millions of dollars into the election, both backing their favored political candidates and just cannily promoting commercial interests. (The filing deadline for Q3 data for quarterly filing entities was October 15, but this data isn't yet readily available in full online.) Business Insider selected 10 venture capital firms to focus on, taking into account fund size and cultural and industry significance. Sequoia Capital's Doug Leone is one of VC's most prolific GOP-aligned political donors, giving his almost $3.8 million to the National Republican Committee and other causes.

Persons: Reid Hoffman, Kamala Harris, —, hasn't, Andreessen Horowitz, blockchain, Marc Andreessen, Ben Horowitz, a16z, Horowitz, Andreessen, Harris, megadonor Reid Hoffman, Keith Rabois, Kleiner Perkins, Michael Moritz, Shaun Maguire, Joe Manchin, Hoffman, Horowitz Hoffman, Joe Biden, Biden, Nikki Haley, Trump, Vinod Khosla, John Doerr, Doug Leone, Elon Musk, Melia Russell, Rob Price Organizations: Service, Federal, Commission, Yuga Labs, White, Republicans, Founders Fund, SpaceX, Khosla Ventures, Sequoia Capital, Sequoia Heritage, Business, Republican, Lincoln, Democratic, Democratic Party, Democratic Congressional, Sequoia, National Republican, Future Forward PAC, America PAC, Elon, Investors, splashy Hamptons, Harris Victory Fund, Harris Action Fund, Democratic National Committee Locations: Solana, Sequoia, West Virginia, New Hampshire

☆ Amazon is using tech from a Khosla Ventures-backed startup to run robot warehouses at Whole Foods
▼ + stars: | 2024-10-15 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

The video makes no mention of Fulfil's technology, but the system appears identical to the contents of a demo video on Fulfil's website. Amazon declined to comment on whether it's using Fulfil's technology. The Information reported earlier on Amazon testing Fulfil's technology. Prior to working with Amazon, the company was testing its technology with California-based retailer Lucky, which is owned by regional grocer Save Mart, and is also an Amazon grocery delivery partner. The system being piloted in Plymouth Meeting will let shoppers order items from Amazon's website and its online grocery service, Amazon Fresh, while browsing Whole Foods.

Persons: Anand Varadarajan, Mir Aamir, Tony Hoggett, Hoggett Organizations: Khosla Ventures, CNBC, Amazon, Eclipse Ventures, DCVC, Save, Foods, Research Locations: Philadelphia, San Francisco, Nashville, California, Plymouth Meeting , Pennsylvania, Plymouth

☆ AI coding startups are becoming a hotspot for VCs. Here are the 12 copilots that have landed funding from funds like a16z, Lightspeed, and Menlo Ventures.
▼ + stars: | 2024-10-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

VCs are investing in generative AI coding and copilot startups. AI coding tools automate coding tasks, allowing developers to focus on creativity. BI has identified which startups in the space have so far raised the most funding from VCs. AdvertisementThe AI revolution shows no signs of slowing down, and some VCs are turning their attention to a new corner of the market: generative AI coding and copilot startups. "I'm really high on AI coding assistants," Menlo Ventures partner Tim Tully recently told Business Insider.

Persons: —, Tim Tully, Kanu Gulati, PitchBook, Elad Gil Organizations: Service, Menlo Ventures, Business, Khosla Ventures, Lightspeed Venture Partners Locations: VCs, Korbit, PitchBook

☆ Nvidia is nearing a record high. This is what's driving it.
▼ + stars: | 2024-10-10 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

Since the start of October, investors and Nvidia watchers have gained a few new numbers to add to their models. AdvertisementThe funding is the clearest sign that investors are still willing to back the biggest bet on generative AI available. OpenAI announced the fresh funding last week, led by Thrive Capital with Microsoft, Nvidia, Softbank, Khosla Ventures, and others participating. Thank you to Nvidia for delivering one of the first engineering builds of the DGX B200 to our office." But, anecdotal evidence of companies finding value in generative AI may be starting to penetrate the investor class as well, according to a new survey from Morgan Stanley.

Persons: —, OpenAI, Billionaire Vinod Khosla, Blackwell, Jensen Huang, Huang, doesn't, David Solomon, Morgan Stanley Organizations: Service, Nvidia, Microsoft, Softbank, Khosla Ventures, Billionaire, CNBC, Taiwan Semiconductor Manufacturing Company Locations: OpenAI, Blackwell

☆ Why the interest-rate cut isn't delivering the relief consumers were hoping for
▼ + stars: | 2024-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we got our first interest-rate cut, but it doesn't feel like it for many consumers . We finally got an interest-rate cut, but borrowing costs are still high. First off, last month's interest-rate cut wasn't going to provide immediate relief. Yes, the average 30-year fixed mortgage rate has gone up 47 basis points since the Fed cut rates , writes BI's Matthew Fox. So the Fed cut rates but borrowing costs went up?

Persons: —, Milton, Alyssa Powell, isn't materializing, Jennifer Sor, Let's, BI's Matthew Fox, I'm, It's, BI's James Rodriguez, who's, Warren Faidley, Hurricane Milton, Hindenburg, Chelsea Jia Feng, Vinod Khosla, OpenAI, Mark Zuckerbergs, Gen Zers, haven't, Rebecca Zisser, Elon Musk's, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Gas, Hindenburg, Tech, DOJ, Google, Walt Disney World, Hurricane Milton, Federal Reserve, Fed, Treasury, Hurricane, Energy, Futures, Bank of America, Disney Locations: Florida, Warren, Tampa, Chelsea, Robotaxi, Hurricane, New York, London

☆ OpenAI backer Vinod Khosla on why all the executive departures may be a good thing, taking on Elon Musk, and fixing AI's image problem
▼ + stars: | 2024-10-08 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

Khosla Ventures was the first investor in OpenAI when it switched to a "capped-profit" model in 2018. When OpenAI switched from a non-profit to a "capped-profit" company in 2018, he put his money where his mouth was when Khosla Ventures stepped forward with the first check. While some notable earlier investors sat out this round, such as Sequoia Capital, sat out this round, Khosla Ventures doubled down. "There's plenty of companies in the public markets that have higher revenue multiples with much lower growth than OpenAI," Khosla said during an interview this week. Advertisement"I think a number of people who left recently really want to start something of their own, but the organization is also being rationalized for agility and speed," Khosla said.

Persons: Khosla, —, Vinod Khosla, OpenAI, Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Sam, Altman, Sutskever, X, 4chan Khosla, Donald Trump, Elon Musk, Musk Organizations: Khosla Ventures, Service, Sequoia Capital, 4chan, 4Chan Locations: OpenAI, Silicon Valley, It's

Wall Street's top performers are hard workers who tend to work long, intense hours. Business Insider asked its 2024 class of Wall Street stars about how they stay mentally sharp. Here's what we learned about the hacks, habits, and routines that help top talent on Wall Street stay on their game. The routine helps him stay present with his home life as well as work, he added. But I think those two things help me to at least stay recharged and stay ready each day," he said.

Persons: —, Mark Zhu, Craig Kolwicz, Goldman Sachs, Corey White, Nina Gnedin, Blake Cecil, Chi Chen, Robert Sapolsky, Justin Elliott, Read, Palmer Osteen, KKR's, I've, That's, Daniela Cardona, America's White, Ben Carper, it's, there's, Matthew Eid, Holm, Reinhard Dirscherl, Melissa Ding, Wells, Annie Cheslin, she's, Margaret Williams, Morgan Stanley, Williams, Apollo's Austin Anton, Erica Wilson's, deadlifted, Harrison DiGia, Patrick Lenihan, barre, Elizabeth Stone Redding, Stone Redding, Matt Gilbert, Thoma, Gilbert, I'm, Dan, Feroz Khosla, isn't Organizations: Business, Service, Blackstone, Finance, Goldman, of America, Man Group, Productivity, Bridgewater Associates, Bank of America, Fidelity Investments, RBC, Bank, America's, Jefferies, Capital Advisory, Ares Management, Getty, BlackRock, Blue, General Atlantic, JPMorgan Asset Management, TPG, Thoma Bravo, Citadel Securities Locations: Blackstone, Chicago, San Francisco, Coast, Boston, Silicon Valley, New York, I'm, Maldives, he's, Thailand, Central Park

☆ Vista Outdoor strikes deal to sell itself in parts to two buyers for $3.4 billion
▼ + stars: | 2024-10-05 | by ( ) www.cnbc.com time to read: +4 min

Vista struck a deal to sell its sporting goods unit, Revelyst, to investment firm Strategic Value Partners for $1.1 billion, according to a statement seen by Reuters. Taken together, the two deals value Vista at $45 per share, topping a rival $43 per share offer from MNC Capital, an investment firm led by former Vista board member Mark Gottfredson. The sale of Revelyst is expected to close by January, subject to regulatory approvals and the completion of the CSG deal. In June, the CSG deal was cleared by the Committee on Foreign Investment in the United States, which reviews foreign investments over possible national security concerns. In July, Vista launched a strategic review to explore all its options, after failing to gather investor support for the CSG deal.

Persons: Vista, Mark Gottfredson, Michael Callahan, Glass Lewis, David Geenberg, MNC's, Victor Khosla, Morgan Stanley, Moelis, Goldman Sachs Organizations: Flag, New York Stock Exchange, Partners, Reuters, Czechoslovak Group, CSG, MNC Capital, Vista, MNC, Institutional, Services, Federal, Remington, Foresight, Bushnell Golf, North, Foreign Investment, Strategic Value Partners, JPMorgan Locations: U.S, Prague, Revelyst, Minnesota, Russia, Ukraine, North America, United States, Colleyville , Texas

☆ Leaders from BCG, Infosys, AARP, and more predict how AI will transform top companies in the next 12 months
▼ + stars: | 2024-10-04 | by ( Julia Hood | Tim Paradis | ) www.businessinsider.com time to read: +17 min

During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.

Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton

☆ OpenAI gets $4 billion revolving credit line, giving it more than $10 billion in liquidity
▼ + stars: | 2024-10-03 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC has learned. The base credit line is $4 billion, with an option to increase it by an additional $2 billion. Led by Thrive Capital, which planned to invest $1 billion, investors included existing backer Microsoft as well as chipmaker Nvidia. SoftBank, Khosla Ventures, Altimeter Capital, Fidelity Management & Research Company, MGX and Tiger Global also participated, according to sources familiar with the situation. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.

Persons: Sam Altman, OpenAI, Goldman Sachs, Morgan Stanley, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: CNBC, JPMorgan Chase, Citi, UBS, HSBC, Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity Management & Research Company, Tiger Global, The New York Times Locations: Santander, Wells Fargo, SMBC

OpenAI's $6.6 billion funding raise attracted some big names across the industry. The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. MicrosoftMicrosoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. FidelityFidelity also participated in OpenAI's latest funding round. AdvertisementAltimeter Capital ManagementAltimeter Capital Management also contributed to OpenAI's latest funding round, according to reports.

Persons: —, Sam Altman, OpenAI, Here's, Anderson Cooper, Josh Kushner, Instagram, Kushner, Altman, josh, SoftBank, Masayoshi Son, Son, Marco Bello, Wood, Morningstar, Bing, Jensen Huang, Sam Yeh, Elon Musk's, Brad Gerstner, Gerstner, Vinod Khosla, Vaughn Ridley, Khosla, MGX Organizations: Service, Allen & Company Sun Valley Conference, Getty, Capital, Business, VC, Wall Street, Reuters, Vision Fund, Venture, ARK Invest, ARK Venture Fund, SpaceX, Microsoft Microsoft, Wall, Rival Apple, Microsoft, Nvidia Nvidia, Nvidia, Tiger Global Management, Fidelity Fidelity, Elon, Elon Musk's xAI, Fidelity, Capital Management, . Khosla, Getty Khosla Ventures, Sun Microsystems, United Arab, Bloomberg Locations: OpenAI, Silicon Valley, OpenAI ., Tokyo, Saudi, ARK, AFP, IPOs, America, United Arab Emirates

☆ Cathie Wood's Ark is doubling down on OpenAI with at least $250 million in its new funding round
▼ + stars: | 2024-10-02 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark Venture Fund invested at least $250 million in this new round. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of its total assets. AdvertisementCathie Wood's Ark Venture Fund has agreed to invest at least $250 million in OpenAI's latest funding round, three people familiar with the round said. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of the fund's total assets, according to its website. On Wednesday, a retail investor shared a screenshot of what appears to be an email she received from Ark Venture Fund informing her of its new OpenAI investment.

Persons: OpenAI, —, Ark, Musk Organizations: Ark Venture Fund, Ark Venture, Service, Microsoft, Tiger Global, Nvidia, Khosla Ventures, United, United Arab Emirates Locations: Abu Dhabi, United Arab, xAI

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