SpaceX, which could file confidential paperwork for its IPO as soon as this week, is now aiming to raise an astounding $75 billion through its pubic listing, The Information reports. That’s 50% higher than previous reports.
For comparison’s sake, the current record holder for money raised in an IPO is Saudi Aramco, which raised $29.4 billion. Or, as The Information noted, SpaceX’s IPO would “surpass all money raised by US IPOs last year.”
Meta, which currently has a market cap of $1.5 trillion, has structured a new executive compensation program that implies a valuation up to 6x higher, according to Securities and Exchange Commission filings reported by The Wall Street Journal.
That means some top executives, like CTO Andrew Bosworth and CFO Susan Li, could gain hundreds of millions of dollars if the shares reach those levels, pointing to a roughly $9 trillion valuation by 2031. CEO Mark Zuckerberg is not part of the program, the company confirmed.
The company’s expenses grew 40% in the fourth quarter from a year earlier, largely driven by employee compensation after shelling out heavily to recruit AI talent. The latest plan suggests those costs could climb even further.
That means some top executives, like CTO Andrew Bosworth and CFO Susan Li, could gain hundreds of millions of dollars if the shares reach those levels, pointing to a roughly $9 trillion valuation by 2031. CEO Mark Zuckerberg is not part of the program, the company confirmed.
The company’s expenses grew 40% in the fourth quarter from a year earlier, largely driven by employee compensation after shelling out heavily to recruit AI talent. The latest plan suggests those costs could climb even further.
Meta has been ordered to pay $375 million in civil penalties by a New Mexico jury after the company was found to have violated state consumer protection laws by enabling child sexual exploitation. Meta was accused of failing to protect underage users from adults seeking to harm them, which led to real-world abuse.
Meta has denied the allegations, and spokesperson Andy Stone posted on Threads:
“We respectfully disagree with the verdict and will appeal. We work hard to keep people safe on our platforms and are clear about the challenges of identifying and removing bad actors or harmful content. We will continue to defend ourselves vigorously, and we remain confident in our record of protecting teens online.”
Meta has denied the allegations, and spokesperson Andy Stone posted on Threads:
“We respectfully disagree with the verdict and will appeal. We work hard to keep people safe on our platforms and are clear about the challenges of identifying and removing bad actors or harmful content. We will continue to defend ourselves vigorously, and we remain confident in our record of protecting teens online.”
The Wall Street Journal and The Information report that OpenAI is discontinuing its once viral Sora text-to-video generation app.
Sora debuted late last year and started off scorching hot, but quickly lost steam.
Per The Information report, CEO Sam Altman has told staff he is shifting responsibilities to focus on building data centers. He also will no longer directly oversee OpenAI’s safety and security teams. Altman shared with staff as well that initial development of OpenAI’s next AI model — code-named “Spud” — has been completed.
Per The Information report, CEO Sam Altman has told staff he is shifting responsibilities to focus on building data centers. He also will no longer directly oversee OpenAI’s safety and security teams. Altman shared with staff as well that initial development of OpenAI’s next AI model — code-named “Spud” — has been completed.
The AI boom was powered by companies training models using Nvidia GPUs.
But now as the field enters the age of inference, the humble CPU may be reclaiming its place in the spotlight.
Today Meta announced a partnership with Arm Holdings to build a “new class of data center silicon.”
The companies are teaming up to design chips that are custom-made for inference, the computing task that actually processes queries — vital work that companies are looking to optimize as they try to fit more and more computing power in their massive data centers.
The first chip from the partnership is the Arm AGI CPU, which is described as a data center CPU designed for Meta’s family of apps.
Meta’s head of infrastructure, Santosh Janardhan, said in a press release:
“We worked alongside Arm to develop the Arm AGI CPU to deploy an efficient compute platform that significantly improves our data center performance density and supports a multi-generation roadmap for our evolving AI systems.”
The companies are teaming up to design chips that are custom-made for inference, the computing task that actually processes queries — vital work that companies are looking to optimize as they try to fit more and more computing power in their massive data centers.
The first chip from the partnership is the Arm AGI CPU, which is described as a data center CPU designed for Meta’s family of apps.
Meta’s head of infrastructure, Santosh Janardhan, said in a press release:
“We worked alongside Arm to develop the Arm AGI CPU to deploy an efficient compute platform that significantly improves our data center performance density and supports a multi-generation roadmap for our evolving AI systems.”
