Expecting Decent Upside In Tech: JPMorgan's Sundar
JPMorgan Private Bank Head of Alternative Investment Strategy Sitara Sundar speaks with Dani Burger on 'The Brief.' (Source: Bloomberg)
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Washington Post
20 minutes ago
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MLB acquires stake in Jomboy Media to expand digital presence
NEW YORK — Major League Baseball has agreed on a strategic partnership with Jomboy Media and will acquire a stake in the company. The two sides announced the deal on Tuesday. Jomboy Media will be used across MLB's digital channels. MLB will also help grow Jomboy Media's other shows, including 'Talkin' Baseball,' 'Talkin' Yanks,' and 'The Warehouse Games.' Both sides are also expected to collaborate on IP growth and ad opportunities around MLB's key events, including the All-Star Game and Home Run Derby. According to the release, Jomboy Media set revenue and profitability records last year, and had more than 93 million engagements on social media. Jomboy Media was founded by Jimmy 'Jomboy' O'Brien and Jake Storiale in 2017. 'We have long admired the passionate fandom of Jimmy O'Brien and his unique ability to connect with baseball fans,' Noah Garden, MLB deputy commissioner, business and media, said in a statement. 'This partnership will ensure that Jomboy Media will have the resources and access to MLB intellectual property necessary to help it continue to grow. We are looking forward to bringing baseball fans more entertaining content to help further expand baseball's online presence and deeper the connection between our sport and its fans.' Jomboy Media's key property is 'The Warehouse Games,' a league modeled after classic backyard games. The series has nearly 400 million all-time views. 'I continue to be amazed by what our community enables us to do through their endless support. When we started talking about baseball on the internet, it was just a fun hobby. Our community is the reason we've been able to turn this from 'just a hobby,' into something bigger than we ever could've imagined,' O'Brien said in a statement. 'Partnering with MLB marks a huge moment for Jomboy Media, and through this partnership, we'll be able to give back to our community with storytelling that's deeper than ever before.' ___ AP MLB:
The Verge
23 minutes ago
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Meta is reportedly making a $15 billion bet on AGI
Meta is close to finalizing an almost $15 billion investment in Scale AI, the tech giant's largest-ever external investment, which would give Meta a 49% stake in the company, according to The Information. As part of the deal, Meta CEO Mark Zuckerberg is personally assembling a team of about 50 people to help Meta supercharge its AI goals — specifically, to achieve artificial general intelligence — and Scale AI CEO Alexandr Wang is set to join that group once the deal is final, according to Bloomberg and The New York Times. AGI is the concept of AI that equals or surpasses human cognitive abilities, and it's something that nearly every AI industry leader is currently racing to achieve before their competitors. Bloomberg was first to report on the planned multibillion-dollar investment. Scale, the AI giant that provides training data to industry leaders like OpenAI, Google, Microsoft, and Meta, in April reportedly expected that its 2025 revenue would more than double year-over-year to about $2 billion. It's also currently planning a tender offer for employees and early investors at a $25 billion valuation. Meta has been concerned about falling behind in the AI race as competitors like OpenAI, Anthropic, Google, and Microsoft pull ahead. In May, Meta delayed the launch of its new flagship model, dubbed Behemoth, amid concerns about its capabilities compared to competing models, The Wall Street Journal reported. The company's investment in Scale AI is likely a bid to catch up as competing tech giants each choose one or more AI startups to back for greater chances of AI success, whether internally or externally. Amazon has invested at least $8 billion in Anthropic, the AI startup founded by ex-OpenAI research executives, and Anthropic's tech now powers Amazon's Alexa Plus. Google has given at least $3 billion to Anthropic, and the two companies share a significant cloud contract. Microsoft has famously invested at least $13 billion in OpenAI and currently gets a share of the company's revenue. Besides its forthcoming deal with Meta, Scale has spent the last few months leaning hard into deals with governments across the world, like a five-year deal with Qatar to provide automation tools for civil service, healthcare, and more. The company has said its work with countries in Asia and Europe could account for a big piece of sales coming up. And in March, Scale signed a multimillion-dollar deal with the Department of Defense for a flagship AI agent program for the U.S. military.
The Verge
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Amazon Key Access Control system
Amazon Key is coming to apartment buildings. is a new building intercom solution that uses the Ring app to let apartment dwellers answer their building door and buzz people in on their phones. The intercoms need to be installed by a property manager, and the system includes virtual keys for communal spaces; keys for individual apartments aren't mentioned. Interestingly, Ring founder Jamie Siminoff left Amazon to run a smart building access solution, but he's now back at Amazon. 1/4 Image: Amazon
