Equity Alibaba shakes up its leadership, OpenAI lobbies EU regulators, and the late-stage market is a mess
6 snips
Jun 20, 2023 Big changes are afoot at Alibaba as the CEO transitions to lead its cloud division amidst a company restructure. Intel secures a notable subsidy for a new plant in Germany, while OpenAI navigates EU regulations to safeguard its AI innovations. The late-stage startup scene struggles with waning investor interest, evidenced by Tiger's fire sale of startup stakes. In brighter news, Eleven Labs raises $19 million in a Series A round, showcasing the ongoing appetite for AI funding amidst the layoffs in the tech industry.
AI Snips
Chapters
Transcript
Episode notes
Alibaba Leadership Change
- Alibaba's CEO, Daniel Zhang, is stepping down to lead its cloud business.
- This move is seen as beneficial for the spin-off and future IPO of the cloud division.
Geopolitics of Chip Manufacturing
- Germany agreed to a $10 billion subsidy plan with Intel to construct a chip plant.
- This shows nation-states' commitment to secure domestic chip manufacturing amidst global uncertainties.
OpenAI and EU Regulation
- OpenAI is lobbying to soften the impact of the EU's AI Act on its operations.
- This highlights the rapid regulatory response to fast consumer AI adoption, unlike the crypto boom.