$1B: Microsoft is to invest $1B in OpenAI, a company co-founded by Elon Musk with the aim of creating an “artificial general intelligence,” which can learn to perform a range of tasks currently conducted by humans. Clients can get up to speed on the latest AI investments with our newly released AI In Numbers client-only report.
+2: The unicorn club added 2 members this week. Singapore-based computer vision company Trax raised $100M at a $1.3B valuation, while home insurance startup Hippo also closed a mega-round at a $1B valuation. Take a look at all 377 unicorns by checking out our real-time tracker.
$7.6B: Investment platform Robinhood raised a $323M Series E to reach a valuation of $7.6B — a 36% increase since its last funding round just over a year ago. The startup has 6M+ users — see how this number compares to its competitors.
$1B+: Apple is reportedly in talks to buy Intel’s smartphone modem unit, including the chip maker’s 5G modem assets. The move could signal that the Cupertino tech giant wants to develop its own 5G chips in the future — it inked a costly 6-year deal with Qualcomm for 5G modems earlier this year. Not sure why 5G is so important? Check out our explainer.
-9%: Nissan announced that it would shrink its global workforce by 9%, equivalent to around 12,500 jobs, as it contends with a sharp drop in operating profits. Despite these challenges, Nissan may be well-placed to benefit from the growing popularity of electric cars — its Leaf brand is one of the world’s top selling electric models. Find out more about the top EV players in our report on The Race For The Electric Car.
2: Two digital health companies held IPOs today: Health Catalyst and Livongo. Both companies priced on NASDAQ a few dollars above their estimated ranges, at $26 and $28, respectively. We broke down each company’s top stakeholders — including Sequoia and Norwest for Health Catalyst, and Kleiner Perkins and General Catalyst for Livongo — and the value of their shares. Check it out.
98%: Climate change is more geographically widespread than at any time in the last 2,000 years, according to a study published in Nature. Researchers looked at data from various geological sources to conclude that major climate events over the last two millennia — such as the “Little Ice Age” — were far more localized than the recent upward warming trends the world has experienced, which the study said had affected 98% of the planet.
32kg: The medal designs for the 2020 Olympic games in Tokyo were unveiled this week. The medals will be made using metals salvaged from over 78K tons of old electronics, including 32kg of gold and 3,500kg of silver.
One More Thing
Source: University of Utah Center for Neural Interfaces via Scientific American