This week in tech saw the release of OpenAI’s GPT-4, a new AI model that can generate text and accept image and text inputs. Microsoft is leveraging GPT-4’s technology to launch new AI-powered features across its suite of productivity tools under the brand Copilot. Meanwhile, SVB Financial has formally filed for Chapter 11 bankruptcy protection, following last week’s trading halt and the regulators’ takeover of the holding company for Silicon Valley Bank and other subsidiaries. Via, which recently raised $110 million at a $3.5 billion valuation, has also acquired transportation startup Citymapper. In other AI news, Baidu’s answer to ChatGPT, Ernie Bot, underwhelmed during its presentation, with the company’s shares slumping as much as 10% in Hong Kong.
Adult entertainment site owner MindGeek has been acquired by Canadian private equity firm Ethical Capital Partners, while Dish customers still have not received substantive updates after an ongoing ransomware attack. On the podcast front, Equity discussed the M&A spree that captured Qualtrics, Cvent, and Mint Mobile, as well as what’s followed the SVB collapse, GPT-4, and why Y Combinator is scaling back from late stage. TC+ subscribers got access to in-depth commentary, analysis, and surveys, including articles on succession planning for founders, questionable investors at Unearthly Materials, and good news for software companies performing well during the wider tech industry crash.
