Charlie Javice, the founder of student loan application startup Frank that was purchased by JPMorgan for $175 million, was found guilty on Friday of defrauding the bank by greatly inflating the customer count. After a five-week trial, the jury found Javice guilty, agreeing with prosecutors’ claims that she fabricated the vast majority of Frank’s customer […]
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Krafton acquires controlling stake in Indian gaming studio Nautilus Mobile for $14M
Krafton, known for its titles PUBG and BGMI, has acquired a controlling stake in 12-year-old Indian mobile gaming studio Nautilus Mobile.
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OpenAI will reportedly close its SoftBank-led $40 billion round soon
While you’re busy Ghibli-fying your images with ChatGPT’s new image-generation capabilities, OpenAI is out raising a ton more cash. The company is close to finalizing a new $40 billion funding round led by SoftBank, according to a report from Bloomberg. The report noted that other funds, including the hedge fund Magnetar Capital, Coatue Management, Founders […]
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Microsoft adds AI-powered deep research tools to Copilot
Microsoft is introducing a “deep research” AI-powered tool in Microsoft 365 Copilot, its AI chatbot app. There’s been a raft of deep research agents launched recently across chatbots, including OpenAI’s ChatGPT, Google’s Gemini, and xAI’s Grok. Powering them are so-called reasoning AI models, which posses the ability to think through problems and fact-check themselves — […]
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Daphni secures $215M for its third fund
French VC firm Daphni is announcing the first closing of its new fund, Daphni Blue. The firm has raised €200 million (around $215 million at current exchange rates). It expects to raise as much as €250 million ($270 million) by the end of the year. Some of Daphni’s most remarkable past investments include Back Market, […]