Jakub Purzycki | norphoto | Getty ImagesAmazon It is making its largest outside investment in its three-decade history, as it looks to gain an advantage in the artificial intelligence race The tech giant said it will spend another $2.75 billion to support Anthropic, a San Francisco-based startup widely seen as a leader in generative artificial intelligence. Its core model and chatbot Cloud competes with OpenAI and ChatGPT.The two companies announced an initial investment of $1.25 billion in September, and said at the time that Amazon would invest up to $4 billion. Wednesday's news represents the second tranche of this funding…
Author: ricardofrancois
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent directly to your inbox every weekdayGood morning. The S&P 500 hit an all-time high yesterday. More importantly, Trump's media and technology group rose another 14 percent, right after we wrote that it looked a bit overpriced. Unhedged's record as a contrarian indicator remains clean. We are off tomorrow for Easter. But you can still email us: robert.armstrong@ft.com and ethan.wu@ft.com.Also, tickets are almost sold out for the FT Alphaville competition in New York in two weeks, where we will both be hosting a…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.UBS has named Sergio Ermotti as Europe's highest-paid head of its bank less than a year after returning to the bank, saying the Swiss executive had successfully steered the merger of rival Credit Suisse. Ermotti earned a total of 14.4 million Swiss francs ($15.9 million) last year, higher than the 12.6 million Swiss francs his predecessor Ralph Hammers received in 2022, the bank's annual report said Thursday.Ermotti was parachuted back into the top job — a role he previously held for nine…
Stay informed with free updatesSimply subscribe to Technology myFT Digest – delivered straight to your inbox.The writer is the author of “Anonymous: How to Navigate the Future”I am currently recruiting a young man, recent graduate with a degree in Cyber Security. But it doesn't keep my network safe from hackers. He splits records, because the hours he spends alone online, searching for his first job, leave him isolated and depressed. His mother was about to cry because she was worried about him. My point is that a little help might be some work that gets him out of the house…
StealthMoleAn AI-powered dark web intelligence startup that specializes in monitoring cyber threats and detecting cybercrimes announced Thursday that it has raised a Series A funding round worth $7 million. The startup, which is headquartered in Singapore and has an R&D office in South Korea, will use the fresh capital to establish additional R&D centers, support more commercial uses of its technology in the B2B sector and geographical expansion. “Having an R&D office in South Korea allows us to gain important insights into how East Asian hackers operate,” Simon Choi, chief technology officer (CTO) of StealthMole, told TechCrunch. “Similarly, having researchers…
Chinese President Xi Jinping speaks at the “Senior Chinese Leaders Event” held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California. United States, November 15, 2023 Carlos Barea | ReutersBEIJING — American business leaders met with Chinese President Xi Jinping on Wednesday, in Beijing's latest effort to boost foreign investment in China amid tensions with the United States.Black stone founder stephen schwarzman, Qualcomm President and CEO Cristiano Amon and Bloomberg Chairman Mark Carney and fedex State media reported that President Rajesh Subramaniam was…
The Baltimore City Fireboat 2 floats in front of the container ship Daly after it collided with the Francis Scott Key Bridge that collapsed into the Patapsco River in Baltimore, Maryland, U.S., Tuesday, March 26, 2024.Bloomberg | Bloomberg | Getty ImagesThe US Coast Guard said on Wednesday that the cargo ship that lost power and collided with a bridge in Baltimore had undergone “routine engine maintenance” in port beforehand, while divers recovered the bodies of two of six workers who fell into the water when it collapsed. The others are presumed dead, and officials said search efforts have been exhausted.…
Federal officials say Cherie Papini, the woman who staged her own elaborate kidnapping and went to prison on charges of mail fraud and lying to federal agents, still owes more than $300,000 in restitution. Papini, 41, was ordered to pay $309,902 in restitution when she was sentenced to federal prison in September 2022, nearly six years after she kidnapped her and began a frantic search that made national headlines. But as of March 22, federal officials say, Papini still owes nearly all of that money. The U.S. Attorney's Office for the Eastern District of California has filed a motion for…
The Biden administration has warned of a long-term outage at one of America's busiest ports, as automakers reroute their shipments and insurers brace for billions of dollars in claims after a Baltimore bridge collapsed on Tuesday. US Transportation Secretary Pete Buttigieg said on Wednesday that it was “too early to be sure” how long it would take to reopen the port and restore the highway bridge over the Patapsco River, which was destroyed in the early hours of Tuesday after it was damaged. It was struck by the container ship Daly.“Rebuilding won't be quick, easy or cheap, but we will…
Nikos Pikaridis | Rocket Lite | Getty ImagesModerna It has more to offer than the Covid vaccine.The biotechnology company on Wednesday announced positive clinical trial data for three experimental vaccines against other viruses. The company said it is moving those shots into final-stage studies.The update brings Moderna a step closer to having multiple products on the market, which it desperately needs amid declining demand for Covid vaccines around the world. The company's Covid jab vaccine is its only commercially available product.Moderna stock has long been associated with this vaccine, with shares falling nearly 45% in the past year. But the…