Filing

OpenAI lambasted Elon Musk's allegations against it, saying in a court filing that the billionaire entrepreneur's claims “rest on convoluted — often incoherent — factual premises.” The strongly worded filing is the company's first legal response to Musk's February lawsuit against the company, Chief Executive Officer Sam Altman and President Greg Brockman. Musk alleged the startup had strayed from its mission to build responsible artificial intelligence and that it had become beholden to Microsoft Corp., its largest…

File photo of a surveillance camera near the Microsoft office building in Beijing, China on July 20, 2021.Photo: Andy Wong, File (AP)Hackers linked to the Russian government keep trying to penetrate Microsoft’s systems using information stolen in a hack from late 2023, according to an announcement from the tech company. The latest intrusion was serious enough that Microsoft filed a report with the SEC.Warning! Microsoft Wants ChatGPT to Control Robots NextThe Russian hackers have been dubbed Midnight Blizzard, previously…

The Central Bank of Nigeria on Wednesday issued a stern warning to all development finance institutions, primary mortgage banks, and microfinance banks regarding the timely submission of their statutory monthly returns through the Financial Institutions Returns Automation (FinA) application. FinA is an advanced off-site surveillance automation system for online submission of returns by financial institutions to the CBN, sponsored by USAID. Deployed in 2011, its key functions include collecting data from FIs…

The agency has been going on the offensive against the super-wealthy who have been cheating their way out of paying their fair share President Joe Biden and Democrats in Congress passed the Inflation Reduction Act in 2022, securing billions in funding for the Internal Revenue Service to bolster its ability to go after corporations and the super-wealthy. Republicans haven’t been happy — likely because they’re well aware of how the one-percenters they cater to have been able to skirt paying their fair…

Hot on the heels of the successful completion of its grid-connected geothermal power plant in Nevada, Fervo Energy is raising $221 million per SEC documents, TechCrunch has exclusively learned. The Houston-based company is one of several enhanced geothermal startups that are racing to tap heat deep in the Earth’s crust. Previous geothermal plants have only scratched the surface by accessing hot springs or shallower rock formations. Fervo uses directional drilling techniques pioneered by the oil…

As Reddit finally files to go public, the company wrote in its S-1 filing that “meme stock” schemes on r/WallStreetBets could pose a risk to investors. The subreddit r/WallStreetBets, a community of retail traders with 15 million members, describes itself as being “like 4chan found a Bloomberg Terminal.” It’s most well known for coordinating a short squeeze on GameStop stock in 2021, a rebellious move that cost hedge funds billions of dollars. The stock was so volatile, jumping more than 600% within days, that…

Reddit’s long-awaited IPO is nearing, promising to be the largest social media IPO since Pinterest. But in the company’s S-1 filing, Reddit fails to fully address the complications that arose from changes to its developer platform and API pricing, which late last year led to site-wide protests, communities going dark, site stability issues, and traffic declines as moderators and Reddit users alike protested how the company was putting popular third-party apps out of business with its increased API fees. Nor does it…

A court filing in the U.S. Department of Justice’s case against Google over its alleged monopoly in the search market has revealed a few notable tidbits about the state of the search market competition, including the inner workings, revenue, and, in some cases, exit prices of would-be Google competitors, like DuckDuckGo and Neeva, the latter of which sold to Snowflake last year after pivoting to enterprise. Google’s proposed “Findings of Fact” filing documents the history of search competition, including Google’s own…

Reddit disclosed on Thursday that its net loss narrowed to $90.8 million and revenue growth was roughly 21% in 2023, as the social media company made its IPO filing public in the run-up to its highly anticipated planned US stock market debut in March. The initial public offering (IPO) filing comes almost two decades after Reddit's launch and will be a major test for the platform that still lags the commercial success of social media contemporaries such as Facebook and Twitter, now known as X.Elevate Your Tech Prowess with…

Nvidia identified Huawei as a top competitor in several categories, including artificial intelligence chips, for the first time in a filing with the Securities and Exchange Commission late Wednesday.The Santa Clara, California-based company said that China's Huawei competes in supplying chips designed for artificial intelligence such as graphics processing units (GPUs), central processing units (CPUs) and networking chips. The company also identified Huawei as a cloud service company designing its own hardware and…