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February 28, 2024, 8:35 PM
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Top News

Alex Koller / CNBC:
EA plans to cut 5% of its workforce, part of a plan that includes reducing office space and sunsetting some games; EA employed 13,400 workers as of March 2023  —  - EA announced Wednesday that it will cut 5% of its workforce.  — The video game company employed 13,400 workers as of the end …
Mark Gurman / Bloomberg:
Tim Cook says Apple will “break new ground” on generative AI this year; Apple shareholders reject a request for report into whether Apple is using AI ethically  —  - Shareholders approve recommendations for board, executive pay  — Longtime directors Al Gore and James Bell officially step down
Reed Albergotti / Semafor:
Memo: Google CEO Sundar Pichai calls Gemini's problematic responses around race “completely unacceptable” and vows to make structural changes to fix the problem  —  The Scoop  —  Google CEO Sundar Pichai addressed the company's Gemini controversy Tuesday evening …
Ben Lovejoy / 9to5Mac:
Kuo: Vision Pro demand is higher than Apple originally expected, with US shipments expected to hit 200-250k units this year; return rates are now below 1%  —  Analyst Ming-Chi Kuo believes that Vision Pro demand is higher than Apple originally expected, with US shipments expected to hit 200-250k units this year.
Mehtab Ansari / Smartprix:
Alleged renders of Samsung's Galaxy Z Fold 6 show a boxy frame, flat sides, and dimensions that make it slightly shorter and wider than its predecessor  —  The Galaxy Z Fold 6, leaks and rumors about the device have been floating around for a while now and yesterday we reported …
Karissa Bell / Engadget:
President Biden signs an EO that aims to limit the mass-sale of Americans' personal data like geolocation to “countries of concern”, including China and Russia  —  The bulk sale of geolocation, genomic, financial and health data will be off-limits to “countries of concern.”
New York Times:
Sources detail Apple's $10B+ car project: years of disagreements on whether it should be a self-driving car or just an EV, talks with Musk on buying Tesla, more  —  Internal disagreements over the direction of the Apple car led the effort to sputter for years before it was canceled this week.
Leo Schwartz / Fortune:
Gemini agrees to return over $1B to customers and pay a $37M fine in a settlement with the New York Department of Financial Services related to Gemini Earn  —  The New York Department of Financial Services on Wednesday announced a settlement with Gemini, the crypto firm founded by the Winklevoss twins …
Dara Kerr / NPR:
Salesforce CEO Marc Benioff tells a reporter, who is looking into his Hawaii land acquisition, that he knows where she is staying and her personal details  —  WAIMEA, Hawaii — A life-size bronze statue of a cowboy sits at the center of Waimea.  The cowboy is riding a horse, lasso in hand, pursuing a wild bull.
Helene Braun / CoinDesk:
Coinbase is investigating an issue causing some users to see a zero balance across their accounts, after BTC topped $60K for the first time since November 2021  —  Multiple users of Coinbase's U.S. platform said on Wednesday that their account balances were wiped out.  —  10 Years of Decentralizing the Future
Jonathan Vanian / CNBC:
Snowflake says that CEO Frank Slootman is retiring, and reports Q4 revenue up 32% YoY to $774.7M and Q1 product revenue guidance below est.; SNOW drops 23%+  —  - Snowflake said CEO Frank Slootman, who took the company public in 2020, is retiring.  — The stock dropped in extended trading.
Jon Swartz / MarketWatch:
Salesforce reports Q4 revenue up 11% YoY to $9.29B, vs. $9.2B est., FY 2025 revenue guidance below est., and announces a $10B increase in its share buyback plan  —  Software giant also announces dividend, share buyback  —  Salesforce Inc.'s stock initially slipped 4% in after-hours trading Wednesday …
Kyle Wiggers / TechCrunch:
Adobe unveils Project Music GenAI Control, a platform that can generate audio from text descriptions or a reference melody and let users customize the results  —  There's plenty of GenAI-powered music editing and creation tools out there, but Adobe wants to put its own spin on the concept.
The Information:
Sources: Meta plans to launch Llama 3 in July, as the company tries to overcome a perceived problem that Llama 2's answers for contentious topics are too “safe”  —  As Google grapples with the backlash over the historically inaccurate responses on its Gemini chatbot, Meta Platforms is dealing with a related issue.
Reuters:
Sources: cloud storage service Egnyte has hired underwriters for a US IPO as early as this year that could value it at $3B+; Egnyte was valued at $460M in 2018  —  Cloud storage service Egnyte has hired underwriters for an initial public offering (IPO) in New York that could value it at more than $3 billion …
Angel Au-Yeung / Wall Street Journal:
Sources: Stripe and some investors agreed to buy $1B+ of current and ex-employees' shares, valuing it at $65B, up from $50B in 2023, but down from $95B in 2021  —  The fintech giant's employees will get a chance to cash out over $1 billion of stock.
Hannah Miao / Wall Street Journal:
Webull plans to go public via a SPAC merger with SK Growth Opportunities around September 2024 and expects to raise ~$100M, valuing the online brokerage at $7B+  —  The brokerage, which surged in popularity during the GameStop mania, had previously considered an IPO
Byron Tau / Wired:
A look at some government contractors that are helping US intelligence agencies and others use targeted mobile ads to track down people  —  Meet the guy who taught US intelligence agencies how to make the most of the ad tech ecosystem, “the largest information-gathering enterprise ever conceived by man.”
Anton Shilov / AnandTech:
Samsung launches 36GB 12H HBM3E DRAM for AI, slated for mass production in H1 2024, with 50%+ more peak bandwidth and capacity compared to its previous HBM gen  —  Samsung announced late on Monday the completion of the development of its 12-Hi 36 GB HBM3E memory stacks …
Yiwen Lu / New York Times:
Raw Story, AlterNet, and, in a separate case, The Intercept sue OpenAI in a NY federal court for copyright infringement; The Intercept is also suing Microsoft  —  Raw Story, AlterNet and The Intercept sued for copyright infringement over the way the ChatGPT creator trains its technology.

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This is a Techmeme archive page. It shows how the site appeared at 8:35 PM ET, February 28, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Brian Steinberg / Variety:
Warner Bros. Discovery announces a restructuring to create two separate units: one for linear TV networks and one for production studios and streaming platforms

Benjamin Mullin / New York Times:
BuzzFeed reaches a deal to sell Hot Ones owner First We Feast for $82.5M in cash to a consortium of investors led by an affiliate of Soros Fund Management

Costas Pitas / Reuters:
Donald Trump picks former news anchor and hardline Republican Kari Lake to be the director of US government-funded media outlet Voice of America

More News

Rachel Metz / Bloomberg:
Toronto-based Ideogram, which is introducing a text-to-image AI model that generates images with legible text, raised an $80M Series A led by a16z
Caitlin Ostroff / Wall Street Journal:
Memo: SBF's lawyers suggest a short sentence of five to six years in prison, citing medical conditions, including autism, and his philanthropic giving
Financial Times:
A detailed look at the modern chip manufacturing process, involving more than a thousand precisely controlled steps to create a single integrated circuit

Earlier Picks

Ingrid Lunden / TechCrunch:
Thrasio, which raised $3B+ in equity and debt to acquire third-party Amazon sellers, files for Chapter 11 bankruptcy and secures $90M in emergency funding
Joyce Lee / Reuters:
Meta CEO Mark Zuckerberg met with LG executives in South Korea to discuss a stronger partnership on XR devices as well as a potential collaboration in AI
Mark Gurman / Bloomberg:
In abandoning plans for a self-driving car, Apple is giving up on billions in potential revenue and hoping AI, Vision Pro, and other bets make up the difference
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