Author: GT

One of the year’s most anticipated IPOs took place on Thursday when neobank Chime raised $864 million in its IPO, pricing its shares at $27, which is above its previously announced range of $24 to $26. That gave it a starting market cap of about $9.8 billion. While some would point out that this is far below its last private valuation of $25 billion, according to PitchBook’s estimates, shares opened at $42, putting it at $14.5 by midday in heavy trading, according to Yahoo Finance. It closed the day at $37 and about a $12 billion market cap. That’s still…

As Snapchat continues to take on Instagram and TikTok, the company announced on Thursday that it’s introducing a suite of new tools and features to make it easier for creators to create and share content on its platform. The social network is launching a “Timeline Editor” feature, a new way to create videos from saved Memories, the ability to auto-save Stories to profiles, and more. Snapchat says the new Timeline Editor will give creators a more intuitive way to edit videos directly on the platform. The Timeline Editor lets you view your video in a chronological layout, so it’s easy…

Last year, Apple’s WWDC keynote highlighted the company’s ambitious strides in AI. This year, the company toned down its emphasis on Apple Intelligence and concentrated on updates to its operating systems, services, and software, introducing a new aesthetic it calls “Liquid Glass” along with a new naming convention.  Nevertheless, Apple still attempted to appease the crowd with a few AI-related announcements, such as an image analysis tool, a workout coach, a live translation feature, and more. Visual Intelligence Visual Intelligence is Apple’s AI-powered image analysis technology that allows you to gather information about your surroundings. For example, it can identify…

Canary, the hotel guest management platform, announced Thursday the raise of an $80 million Series D in a round led by Brighton Park Capital.  Harman Singh Narula and childhood friend SJ Sawhney launched the company in 2018 to help hotels digitize and automate guest interactions. The company has raised nearly $180 million in funding to date. “Running a hotel is increasingly complex,” Singh Narula told TechCrunch. “Guest expectations are constantly evolving, and staffing shortages continue to strain operations. We felt the hotel market was underserved by technology and that modern solutions could help hoteliers elevate the guest experience, improve profitability,…

US President Donald Trump receives a gold helmet with his name on it during a visit to US Steel – Irvin Works in West Mifflin, Pennsylvania, May 30, 2025, to mark the ‘partnership’ between Nippon Steel and US Steel. Saul Loeb | AFP | Getty ImagesPresident Donald Trump issued an executive order on Friday approving U.S. Steel’s merger with Japan’s Nippon Steel, after the companies signed a national security agreement with the U.S. government.U.S. Steel and Nippon said the national security agreement will give the U.S. government a “golden share” and makes certain commitments related to governance, domestic production, and…

New York-based micromobility startup Infinite Machine has revealed a seated scooter called Olto that will cost $3,495 when it starts shipping later this year. The Olto will feature 40 miles of range, pulled from an easily swappable 48V lithium-ion battery. Infinite Machine says the Olto will have a top speed of 20 miles per hour in bike lines and “33mph off-road,” powered by a 750W rear hub motor. There is a headlight with high and low beams, as well as turn signals, to help with visibility on the road. Infinite Machine is also promising the Olto is modular, with the…

Large swaths of the internet went down on Thursday, affecting a range of services, from global cloud platform Cloudflare to popular apps like Spotify. It appears that a Google Cloud outage is at the root of these other service disruptions. Google Cloud said it started investigating service issues affecting its customers at 11:46 a.m. PT. As of 2:23 p..m PT, the company said it had implemented mitigations, and expects to have its services back up and running within the hour. “We are currently investigating a service disruption to some Google Cloud services,” said Google Cloud spokesperson Devon Smiley in an…

Tesla sued a former engineer for allegedly stealing trade secrets from its humanoid robotics program, Optimus, and using them to launch a rival startup. The lawsuit, which was filed on Wednesday and originally reported on by Bloomberg, accuses Zhongjie “Jay” Li of stealing trade secrets regarding Tesla’s development of “advanced robotic hand sensors” to launch his startup Proception, a Y Combinator-backed company building robotic hands. The complaint states that Li, who worked at Tesla from August 2022 to September 2024, downloaded confidential information about Optimus on two separate personal smartphones. The complaint also added that during the last few months…

Meta is the latest tech company to warm to geothermal energy, announcing on Thursday a deal with startup XGS Energy to develop a 150 megawatt geothermal power plant in New Mexico.  XGS Energy has yet to say where it’ll be building the power plant, and Meta wouldn’t disclose specifics about the deal other than to say it’s not yet a contract to purchase power, but rather an agreement “to advance geothermal energy development” in the state, a Meta spokesperson told TechCrunch. Recently, tech companies, data center developers, and investors have been warming to the technology. Geothermal can generate electricity around…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Wall Street moved lower Friday afternoon as tensions in the Middle East escalate following Israel’s attack on Iranian nuclear infrastructure. Iranian state TV said that it has suspended nuclear weapons negotiations with the U.S. — the two sides had been set to talk on Sunday. Not long afterward, as headlines around Iranian missile attacks in Israel surfaced, losses in the stock market picked up steam. The Dow Jones Industrial Average…