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Top stories today:
- Cerebras files for IPO as demand for AI chips soars
- SoftBank said to put $500M in OpenAIās upcoming $6.5B round
- Fed chair Powell says not āin a hurry,ā suggesting 25 bps cut in Nov.
- Epic Games sues Google, Samsung over alleged app store collusion
- MIT-spinoff Liquid unveils non-transformer language models
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Cerebras files for IPO as demand for AI chips soars
$1B could be raised through the IPO.
$7B - $8B valuation expected.
Oct.: when a NASDAQ listing is expected.
G42 accounts for 87% of Cerebrasā H1 2024 revenue.
Cerebras offers its Wafer-Scale Engine 3, which takes on NVIDIA's H100.
2. SoftBank said to put $500M in OpenAIās upcoming $6.5B round
OpenAI is said to be valued at $150B pre-money:
SoftBankās second Vision Fund is said to make the financing.
Thrive Capital is rumored to lead the round with over $1B investment.
SoftBank isnāt a super active AI/LLM investor, despite owning a majority stake in ARM.
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4. Fed chair Powell says not āin a hurry,ā suggesting 25 bps cut in Nov.
āWe are not on any preset course.ā
Labor market is solid, but conditions have āclearly cooled over the past year. [We] do not believe that we need to see further cooling in labor market conditions to achieve 2% inflation.ā
5. Epic Games sues Google, Samsung over alleged app store collusion
Epic Games alleged Samsung restricted 3rd-party app stores using its pre-installed Auto Blocker feature on Galaxy devices:
