News about Silicon Valley business almost everyday.
99 Cents Only Stores is closing its doors and has commenced going-out-of-business sales at all of its locations. Hilco Global is managing the liquidation event, and Jefferies LLC and Hilco Global are managing the sale of the Company’s real estate assets, both owned and leased, in Arizona, California, Nevada, and Texas. These real estate assets consist of desirable retail locations […]
SAN JOSE — Lambda, the GPU cloud company founded by AI engineers and powered by NVIDIA GPUs, has secured a special purpose GPU financing vehicle of up to $500 million to fund the expansion of its on-demand cloud offering. The financing was led by Macquarie Group with participation from Industrial Development Funding (“IDF”), and follows […]
MOUNTAIN VIEW — Aerospike, Inc. has closed a $109 million growth investment from Sumeru Equity Partners with additional investment from existing investor Alsop Louie Partners. This latest investment signals a validation of the company’s product strength and business performance. The investment accelerates innovation and go-to-market capabilities for Aerospike’s core transaction, analytics, and AI solutions, including vector and graph […]
Anthropic announced it is using Amazon Web Services (AWS) as its primary cloud provider for mission critical workloads, including safety research and future foundation model development. Anthropic will also use AWS Trainium and Inferentia chips to build, train, and deploy its future models and has made a long-term commitment to provide AWS customers around the world […]
SAN FRANCISCO — PipeDreams, a tech-enabled home services provider, has landed $25.5 million in Series A funding led by Canvas Ventures and Plural, bringing its total equity funding to $39M. Angel investors include Tony Xu, the founder and CEO of DoorDash; Thomas Layton, the founder of CitySearch, former CEO of OpenTable, and Chairman of UpWork; […]
In 2023, Airbnb said guests traveled to more than 100,000 cities and towns around the world making it the most dispersed year of travel ever on the platform. In the US, nearly 600 cities and towns welcomed their first guest, demonstrating that travel on Airbnb continues to be a popular way for people to experience new […]
SAN FRANCISCO — Extropic, a pioneer in physics-based computing, has emerged from stealth mode and announced the release of its Litepaper, which outlines the company’s revolutionary approach to AI acceleration through thermodynamic computing. Founded in 2022 by Guillaume Verdon, Extropic has been developing novel chips and algorithms that leverage the natural properties of out-of-equilibrium thermodynamic […]
SAN FRANCISCO — Breakout Ventures, which invests in creative bioscience entrepreneurs, is welcoming five new venture partners. These industry leaders will lend their experience to diligence new investments and advise Breakout’s portfolio companies on product development and commercialization strategy. “We’ve had the pleasure of knowing these founders and advisors for many years and are delighted […]
MENLO PARK — According to a new UNITE HERE report, contracted food service workers working in Meta cafeterias nationwide struggle to afford basics like rent and food. In the report, “Food Service Workers at Meta Need A Raise,” employees of the company’s food service contractors, Flagship and Yarzin Sella, say the aftermath of skyrocketing inflation […]
MOUNTAIN VIEW — inDrive, a leading global mobility and urban services platform, has expanded its financing arrangement with General Catalyst to $300 million, up from the initial $150 million secured in 2023. The financing extension, which can be further extended for an additional year, enhances inDrive’s financial flexibility, enabling the company to bolster growth, invest […]
BENTONVILLE, AR — Walmart. the nation’s largest retailer, has begun selling MacBook Air with the M1 chip that was first launched in 2020. This is the first time customers can purchase a Mac directly from Walmart. The MacBook Air with the M1 chip is now available on Walmart.com and will soon be available in select Walmart […]
PALO ALTO — Broadcom Inc. announced that it has delivered Bailly, the industry’s first 51.2 terabits per sec (Tbps) co-packaged optics (CPO) Ethernet switch, to its customers. The product integrates eight silicon photonics based 6.4-Tbps optical engines with Broadcom’s best-in-class StrataXGS Tomahawk 5 switch chip. Bailly enables the optical interconnect to operate at 70% lower […]