markets

Does EU Compliance Require Microsoft to Disclose OpenAI Investment as a Merger?

Gettyimages 1778706504
The European Union is checking whether Microsoft’s investment in generative AI giant OpenAI is reviewable under the bloc’s merger regulations, it said today. “Finally, the European Commission is checking whether Microsoft’s investment in OpenAI might be reviewable under the EU Merger Regulation,” it added. Commenting in a statement, EU competition chief Margrethe Vestager said:Virtual worlds and generative AI are rapidly developing. They also told us there are no “particular concerns” the EU has identified yet vis-a-vis competition and generative AI as yet. Per the spokesperson, a transaction would be notifiable to the Commission under the EU Merger Regulation if it involves ” a change of control on a lasting basis”.

Arkon Energy Secures $110M Investment for Expanding U.S. Bitcoin Mining Capacity and Introducing AI Cloud Service in Norway

Gettyimages 539954410 1
Arkon Energy, a data center infrastructure company, closed a $110 million private funding round to expand its operations, the company’s CEO Josh Payne shared exclusively with TechCrunch. “These sites appeal to both bitcoin miners and AI [or] machine learning clients who have very high power computing demands,” Payne said. “We are essentially a landlord who owns the underlying infrastructure assets.”Arkon’s business model focuses on strategically acquiring distressed data center assets across the globe. “The current and future demand for data center capacity of all types that we are seeing globally, but especially in the U.S., is unprecedented and monumental. Arkon aims to fill that gap by providing the underlying infrastructure layer that the AI sector relies on.

“Akron Energy Secures $110M Investment to Expand U.S. Bitcoin Mining Capabilities and Introduce AI Cloud Services in Norway”

Gettyimages 539954410
Akron Energy, a data center infrastructure company, closed a $110 million private funding round to expand its operations, the company’s CEO Josh Payne shared exclusively with TechCrunch. “These sites appeal to both bitcoin miners and AI [or] machine learning clients who have very high power computing demands,” Payne said. “We are essentially a landlord who owns the underlying infrastructure assets.”Akron’s business model focuses on strategically acquiring distressed data center assets across the globe. “The current and future demand for data center capacity of all types that we are seeing globally, but especially in the U.S., is unprecedented and monumental. Akron aims to fill that gap by providing the underlying infrastructure layer that the AI sector relies on.

Micromobility.com Dropped from Nasdaq Listing

Img 2502
Micromobility.com, formerly Helbiz, was delisted from the Nasdaq on Monday as a result of the company’s noncompliance with the stock exchange’s listing rules, according to a regulatory filing. Competitor Bird — the only other shared micromobility company to brave the public markets — was also delisted from the stock exchange in September. The company’s stock has struggled to remain in compliance since going public via special purpose acquisition merger in 2021. In March, the company issued a reverse stock split to bring the price back into compliance, the gains from which didn’t last long. The company’s stock closed Monday at $0.44.

CEO: Deep-Pocketed Competitors Force Jumia to Discontinue Food Delivery

2de3a38f 5c0e 43cd B10b Bc349be5fcdc
Last week, pan-African e-commerce platform Jumia said it was discontinuing its food delivery service, Jumia Food. However, of all the streamlining efforts, its exit from the food delivery business across seven markets was the most unexpected. This trend might persist with its exit from the food delivery business. Jumia’s statement last week said that the company’s food delivery business wasn’t suitable to its market’s operating environment and macroeconomic conditions. Also, how fast will the company grow the physical goods business to make up for this food delivery exit?

Prevu Anticipates Boost in Online Home Sales with Cash-Back Incentives

Gettyimages 147062618
The traditional role of the real estate agent has long been challenged as the internet has made it easier for people to search for, and tour, homes. The buyers’ agent commission varies from transaction to transaction depending on what is offered by the seller. In a scenario where the buyer’s agent commission is 3%, for example, the home buyer would receive up to 1.5% as a rebate and Prevu as a company would retain the other 1.5%. Buyers receive the commission rebate via check after closing. Making home buying “more attainable”So besides rebates, what is Prevu doing that’s different from its competitors?

Discontinuing Food Delivery: Jumia Shifts Focus to Growing Physical Goods Business in Seven Markets

804c20d6 A36a 41fa 9d77 163aace2ce73
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food. As a result, Jumia will cease its food delivery operations across these markets by the end of December 2023. Jumia is redirecting its focus towards the core physical goods business and maintaining its JumiaPay operations across all 11 markets, as outlined in a recent statement. Jumia’s decision to discontinue its food delivery business aligns with a broader trend in the industry, mirroring the recent exit of another food delivery competitor, Bolt Food, from Nigeria and South Africa. Both exits seem to be influenced by current macroeconomic headwinds, high inflation and intensified competition within the food delivery sector across the continent.

Trending now

Baby wearables, texts from dogs, and E-Ink cars • TechCrunch
The Future of Babies: Wearables, Text Messages from Furry Friends, and E-Ink Automobiles
Airmyne Prototype
AirMyne Harnesses Geothermal Energy for Direct Air Carbon Capture Expansion
Atomos tows a $16M load of funding to create tugboats in space • TechCrunch
Atomos Takes Off With $16M For Tugboats in Space
Instagram now lets you bookmark posts with friends and store them in a dedicated space
Create and Explore a Saved Space with Instagrams New Bookmarking Feature