Chinese startup Even Realities Technology, founded by former Apple engineer Will Wang, raised $150 million in a pre-Series B round, reaching a $1 billion valuation. The company develops AI-integrated smart glasses focused on privacy, with no cameras but features like messaging and live translation via heads-up displays. Even Realities aims to compete in the growing global smart glasses market, currently led by Meta with nearly 70% share. The funds will support product innovation, AI integration, and global expansion.
This week, U.S. markets focus on the Federal Reserve's July meeting, key inflation data like Core PCE, and second-quarter GDP figures, alongside major tech earnings from Microsoft, Meta, Apple, and Amazon. Rising oil prices and geopolitical tensions ...
Chinese AI startup Moonshot AI's rapid rise with its open-weight Kimi K3 model, which competes with US models, has sparked debate over the practice of AI distillation. Distillation uses outputs from advanced AI models to train others, raising concern...
Yields on bonds climbed this week after Alphabet increased its capital expenditure forecast for AI development, sparking fears that other major tech companies like Amazon and Meta will follow. Fixed-income investors are demanding higher credit spread...
Shares of major tech companies, including Alphabet and Tesla, dropped sharply after both announced increased capital expenditures focused on AI infrastructure. Alphabet plans to spend $200 billion this year, up from $190 billion, aiming to enhance AI...
Leading AI-focused tech giants like Alphabet, Meta, Amazon, Oracle, and Microsoft have seen their stock prices decline since April 2023, with Oracle dropping over 31%. The main reason is soaring capital expenditure (capex) on AI development, which is...
