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Four phones showing Noplace profiles
C/O Noplace

Noplace launches to top of charts, but can the social-media app sustain the hype?

Text-based social app has striking similarities to Myspace

New social-media app Noplace looks a lot like if Myspace was built for iPhones instead of early 2000s clamshell iBooks. The app launched Wednesday and briefly vaulted up the App Store charts.

Noplace seems to take a page from several social networks’ playbooks. Users make a profile where they can add a pic and bio; list their interests (horror movies, “Animal Crossing”); add their age and relationship status; and post to their “wall.”

Users also have friends and a “Top 10,” similar to Myspace’s “Top 8” feature that millennials will remember for destroying friendships. Noplace was even originally named Nospace before receiving a cease-and-desist letter that prompted the slight name tweak. Plus, Noplace founder Tiffany “TZ” Zhong is every users’ first friend. (Former Myspace users: Remember Tom?)

Noplace profile v2
Bye, Myspace Tom. Hi, Noplace Tiffany "TZ" Zhong.

But Noplace isn’t trying to do it all. The app’s main feed is for text-only posting, putting it in the running to rival X alongside other microblogging upstarts including Bluesky, Mastodon, and Meta’s Threads.

The next-gen Myspace built up some momentum earlier this year when 500,000 people signed up for its pre-launch waitlist following a flurry of viral TikToks about the app. It’s backed by Reddit cofounder Alexis Ohanian’s venture fund and has raised about $19 million.

Noplace’s next challenge will be to sustain its early hype — which a flurry of new social apps over the last few years have struggled to do (looking at you, BeReal, Lapse, Peach, and many others).

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Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

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Trump Media surges after announcing it is merging with fusion energy company TAE Technologies

Perhaps a strong late candidate for weirdest merger of the year, Trump Media — owner of Truth Social — is combining with fusion energy company TAE Technologies in a $6 billion all-stock deal.

As part of the deal, Trump Media will provide up to $200 million of cash to TAE at signing, with an additional $100 million available once the initial filing of the Form-S4 is completed (form for registering new securities).

The deal will create “one of the world’s first publicly traded fusion companies,” per the press release revealing the combination, which also states:

In 2026, the combined company plans to site and begin construction on the world’s first utility-scale fusion power plant (50 MWe), subject to required approvals. Additional fusion power plants are planned and expected to be 350 – 500 MWe.

The announcement sent Trump Media shares up as much as 30% in premarket trading on Thursday, though it’s since shed some of that bump, holding above a 20% gain as of 7:30 a.m. ET.

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