Meta is buying AI chip startup Rivos for an unknown sum, as part of the social media company’s effort to decrease its reliance on graphics processing units from Nvidia, Bloomberg reports. Rivos was seeking funding in August at a $2 billion valuation. Meta has been spending exorbitant sums in an attempt to create AI models that are smarter than humans, an effort that’s involved investing in developing its own AI chips.
According to a report from The Wall Street Journal, OpenAI could file for an IPO as soon as this week. The company is working with Goldman Sachs and Morgan Stanley on the IPO, which is widely expected to be one of the largest ever. OpenAI is racing against rival Anthropic to be the first startup of the current generative-AI boom to go public.
OpenAI is targeting an IPO as soon as September, per the report.
At Google’s I/O developer conference, the company announced a bevy of new products, but none of it helped the stock one bit.
Tesla is planning to build its solar panel manufacturing plant — an endeavor that could add up to $50 billion in value to its energy business — near Houston, Texas, Electrek reports. The plant would be located on the same site as its Megafactory, which builds Megapack battery systems.
The solar plant is part of Tesla and SpaceX’s goal of eventually putting solar-powered data centers in space.
On the company’s fourth-quarter earnings call, CEO Elon Musk said Tesla was “going to work towards getting 100 gigawatts a year of solar cell production, integrating across the entire supply chain from raw materials all the way to finished solar panels.”
At the time, the news had sent shares of First Solar down, but subsequent reports suggest Tesla is unlikely to compete directly with the country’s leading photovoltaic panel maker, instead using much of that production internally.
On the company’s fourth-quarter earnings call, CEO Elon Musk said Tesla was “going to work towards getting 100 gigawatts a year of solar cell production, integrating across the entire supply chain from raw materials all the way to finished solar panels.”
At the time, the news had sent shares of First Solar down, but subsequent reports suggest Tesla is unlikely to compete directly with the country’s leading photovoltaic panel maker, instead using much of that production internally.
