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Spotify’s stock price is likely to soar as the streaming platform is poised to attract more free and premium users, according to Morgan Stanley. The investment bank named Swedish audio and media service Spotify one of its top picks and reiterated its overweight rating on the stock. Morgan Stanley’s 12-month price target of $800 implies an 18% upside. “Having added significant value to its free and premium tiers, we see Spotify poised to begin a new pricing cycle this fall and accelerate growth into next year,” analyst Benjamin Swinburne said in a note to clients on Monday. Morgan Stanley’s Spotify…
Sesame, a conversational AI startup and smart glasses maker, announced Tuesday that it has raised $250 million in a Series B round and will open a beta version to a select group of testers. The startup, led by former Oculus co-founder and CEO Brendan Iribe and Ankit Kumar, former CTO of AR startup Ubiquity6, is working to develop personal AI agents that interact with users using natural human voices. The company plans to embed a personal AI agent into lightweight glasses designed to be worn all day, and which users can control using voice. The startup first emerged from stealth…
Nicole Taionescu | iStock | Getty ImagesThis is the biggest question in the tech industry, and there are a wide range of views on all sides.Everyone seems to be considering the possibility of an AI boom or bust, as artificial intelligence-powered spending is leading to record deals and valuations.Economic bubbles result from a rapid rise in market or asset prices in a particular region, often fueled by speculation, followed by a crash that causes a rapid outflow of capital.More than 1,300 AI startups are currently valued at more than $100 million, and 498 of them are AI “unicorns,” or companies…
Jakarta, Indonesia AP — A British woman and another Briton serving a life sentence will be repatriated to avoid the death penalty for drug smuggling in Indonesia under a deal signed between the two countries on Tuesday. Lindsay Sandiford, 68, has been imprisoned in Bali since 2012. She was arrested at the resort island’s airport after authorities found 3.8 kilograms (8.4 pounds) of cocaine worth $2.5 million hidden in the lining of her suitcase. During the trial, she said she was forced to transport drugs by a gang that threatened children. She was sentenced to death by firing squad, a…
If you’ve ever seen the term “onion bag” on social media and wondered, “What the hell is that?”, you’re not alone. No, not an onion-shaped wallet (that’s pretty chic, right?). The onion bag trend is taking over 2025 fashion, combining oversized bags with layered, structured styles, perfect for embracing maximalist fashion this winter. Say goodbye to small bags! Oversized bags are back in a big way, with the onion bag trend leading the way. It’s the hottest way to elevate your everyday totes, bags and carryalls, and a stylist-approved choice. Corina Molina, aka @cocotakes (creator of the viral Purse Bowl),…
Lauren Taylor Wolfe of Impactive Capital took to the stage at 13D Monitor’s Active/Passive Investor Summit and delivered this punchy line: “AI will not kill this business or disintermediate it because ChatGPT cannot immediately deal with real-life poop and storms.” Her new idea is an advanced drainage system, which she calls the undisputed leader in plastic rainwater and home purification systems. The co-founder of Impactive Capital, one of the pioneers in aggressive environmental, social, and governance investing, said his company recycles more than 500 million pounds of plastic annually and is the second-largest recycler in North America you’ve never heard…
LangChain has raised $125 million at a valuation of $1.25 billion, the company announced on Monday. TechCrunch reported in July that the provider of a popular open source framework for building AI agents was raising new funding at a valuation of at least $1 billion. As previously reported, the transaction was led by IVP. New investors CapitalG and Sapphire Ventures participated, along with existing investors Sequoia, Benchmark and Amplify. LangChain began in 2022 as an open source project founded by machine learning engineer Harrison Chase. The startup was an early darling of the AI era, solving problems that made building…
Shield AI is about to shake up the defense industry. The company has secured $240 million in its latest funding round, valuing the company at $5.3 billion, and plans to unveil its next-generation autonomous fighter jet, known as the X-Bat, on Wednesday. CNBC received exclusive access to the company’s headquarters ahead of the launch.According to Shield AI, the unmanned aircraft is equipped with a jet engine, has a range of 2,000 miles, can fly up to 50,000 feet, has vertical takeoff and landing capabilities, and can operate in remote locations without runways, such as on a ship in the middle…
The AI bubble has driven up valuations across the tech sector, making it difficult to find stocks that aren’t already in overbought territory. But for those who want to dig deeper, there are still diamonds in the rough. Adobe (ADBE) is currently at an interesting crossroads, with one of my favorite setups, a mean reversion trade. (I discuss this trading method in detail in my book, Mean Reversion Trading.) Looking at the 9-month daily chart reveals several signs that support a possible rebound from current price levels. The white line on the support/resistance chart highlights the multi-month support zone around…
As the entertainment industry considers when and how to use generative AI in filmmaking, Netflix is leaning in. In its quarterly earnings report released Tuesday afternoon, Netflix said in a letter to investors that it is “very well positioned to effectively leverage ongoing advances in AI.” Although Netflix has no plans to use generative AI as the backbone of its content, it sees the potential of this technology as a tool to make creatives more efficient. “It takes great artists to make great things,” Netflix CEO Ted Sarandos said on Tuesday’s earnings call. “AI can give creators better tools to…