OpenAI, the AI research powerhouse behind ChatGPT, has just closed the largest venture capital round in history, securing $6.6 billion in funding, bringing its post-money valuation to $157 billion. Led by Thrive Capital, the round includes major investments from Microsoft, Nvidia, SoftBank, and others, boosting OpenAI’s total funding to $17.9 billion, according to Crunchbase. Thrive…
Starlink, the satellite internet provider, has announced a significant increase in subscription fees for its Nigerian users, citing economic difficulties as the reason for the adjustment. The price hike impacts both new and existing customers. What’s Changing? For new customers, the price hike is already in effect, while current users will see the new rates…
Japanese telecom giant SoftBank is preparing to invest $500 million in OpenAI as part of the AI company’s latest $6.5 billion fundraising round, according to sources familiar with the deal. While SoftBank remained tight-lipped on the matter, OpenAI has yet to provide an official comment. What’s the Deal with OpenAI? OpenAI, the company behind ChatGPT,…
Fidelity, a major asset management firm, has reduced the value of its investment in X (previously Twitter), now valuing the platform at $9.4 billion. This is a huge drop from Elon Musk’s original purchase price of $44 billion in 2022, with Fidelity’s stake down by 78.7% as of August. How Much Has the Investment Dropped?…
Changpeng “CZ” Zhao, the founder of Binance, has officially been released from U.S. custody on friday after completing a four-month sentence in a low-security facility. This sentence stemmed from a federal investigation that revealed Binance’s failure to prevent extensive criminal activities on the exchange, which is the largest cryptocurrency platform globally. Key Details of CZ’s…
Next Narrative Africa and HEVA Fund Launch $40M Fund for African Filmmakers Next Narrative Africa, a Nigerian media production company, and HEVA Fund, a Kenyan investment firm, have teamed up to launch a $40 million fund aimed at supporting African filmmakers. Investment Details The Next Narrative Africa Fund will invest in films with budgets ranging…
OpenAI, the Silicon Valley giant behind ChatGPT, is abandoning its nonprofit roots in favor of a for-profit model. Founded in 2015 as a nonprofit, OpenAI once prided itself on pursuing “advanced digital intelligence” free from financial pressures. But that’s changing, with the board stepping back into a minority position and full control shifting to CEO…
Kenya’s President, William Ruto, has publicly supported the presence of Starlink, Elon Musk’s satellite internet service, in Kenya. He believes that Starlink is pushing local competitors like Safaricom to enhance their service quality. Ruto made these remarks during the US-Kenya Business and Investment Roundtable in New York, which took place alongside the United Nations General…
Kofa Technologies, a Ghanaian startup specializing in clean and portable battery solutions, has partnered with PASH Global to expand its battery-swapping network across Ghana. This initiative aims to deploy 6,000 batteries and establish up to 100 swap stations, providing reliable energy access and supporting the transition to clean energy and the widespread adoption of electric…
Userguest, a Moroccan technology company founded in 2018, has raised €2.2 million (about $2.4 million) in seed funding. The startup’s innovative platform helps hotels increase direct bookings and revenue through automated, personalized messaging. Al Mada Ventures led the investment round, joined by CDG Invest, Saviu Ventures, UM6P Ventures, Kalys VC, Plug & Play, and business…
