FICO CEO on criticism from FHFA's Bill Pulte
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
21 minutes ago
- CNBC
Samsung backs South Korean AI chip startup Rebellions ahead of IPO
South Korean artificial intelligence chip startup Rebellions has raised money from tech giant Samsung and is targeting a funding round of up to $200 million ahead of a public listing, the company's management told CNBC on Tuesday. Last year, Rebellions merged with another startup in South Korea called Sapeon, creating a firm that is being positioned as one of the country's promising rivals to Nvidia. Rebellions is currently raising money and is targeting funding of between $150 million and $200 million, Sungkyue Shin, chief financial officer of the startup, told CNBC on Tuesday. Samsung's investment in Rebellions last week was part of that, Shin said, though he declined to say how much the tech giant poured in. Since its founding in 2020, Rebellions has raised $220 million, Shin added. The current funding round is ongoing and Shin said Rebellions is talking to its current investors as well as investors in Korea and globally to participate in the capital raise. Rebellions has some big investors, including South Korean chip giant SK Hynix, telecommunication firms SK Telecom and Korea Telecom, and Saudi Arabian oil giant Aramco. Rebellions was last valued at $1 billion. Shin said the current round of funding would push the valuation over $1 billion but declined to give specific figure. Rebellions is aiming for an initial public offering once this funding round has closed. "Our master plan is going public," Shin said. Rebellions designs chips that are focused on AI inferencing rather than training. Inferencing is when a pre-trained AI model interprets live data to come up with a result, much like the answers that are produced by popular chatbots. With the backing of major South Korean firms and investors, Rebellions is hoping to make a global play where it will look to challenge Nvidia and AMD as well as a slew of other startups in the inferencing space. Rebellions has been working with Samsung to bring its second-generation chip, Rebel, to market. Samsung owns a chip manufacturing business, also known as foundry. Four Rebel chips are put together to make the Rebel-Quad, the product that Rebellions will eventually sell. A Rebellions spokesperson said the chip will be launched later this year. The funding will partly go toward Rebellions' product development. Rebellions is currently testing its chip which will eventually be produced on a larger scale by Samsung. "Initial results have been very promising," Sunghyun Park, CEO of Rebellions, told CNBC on Tuesday. Park said Samsung invested in Rebellions partly because of the the good results that the chip has so far produced. Samsung is manufacturing Rebellions' semiconductor using its 4 nanometer process, which is among the leading-edge chipmaking nodes. For comparison, Nvidia's current Blackwell chips use the 4 nanometer process from Taiwan Semiconductor Manufacturing Co. Rebellions will also use Samsung's high bandwidth memory, known as HBM3e. This type of memory is stacked and is required to handle large data processing loads. That could turn out to be a strategic win for Samsung, which is a very distant second to TSMC in terms of market share in the foundry business. Samsung has been looking to boost its chipmaking division. Samsung Electronics recently entered into a $16.5 billion contract for supplying semiconductors to Tesla. If Rebellions manages to find a large customer base, this could give Samsung a major customer for its foundry business.
CNBC
2 hours ago
- CNBC
Saudi Arabia's SURJ invests in Pro Triathletes
CNBC spoke to Danny Townsend, CEO of SURJ about how investments into entities like the PTO play into the company's strategy and Saudi Arabia's Vision 2030.
Business Insider
2 hours ago
- Business Insider
China's Newest AI Model Is Cheaper than DeepSeek
Chinese tech startups are following in DeepSeek's footsteps by releasing new artificial intelligence models that are smarter and cheaper, according to CNBC. One of the most notable is formerly known as Zhipu, which on Monday revealed its GLM-4.5 model. The company says that this model costs less to use than DeepSeek's and works with agentic AI, which is a system that breaks large tasks into smaller steps for more accurate results. Z. ai is also making the model open-source so developers can freely download and use it. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. What's interesting is that GLM-4.5 is roughly half the size of DeepSeek's competing model and requires only eight Nvidia (NVDA) H20 chips to run. For context, these are the specialized chips made for China to comply with U.S. export controls. CEO Zhang Peng told CNBC that the company already has enough computing power and does not need to buy more chips, although he declined to disclose the model's training costs. Nevertheless, stated that it will charge $0.11 per million input tokens and $0.28 per million output tokens, which is significantly cheaper than DeepSeek's rates of $0.14 and $2.19, respectively. It is worth noting that release adds to a wave of new open-source AI models from China. Indeed, earlier this month, Alibaba-backed Moonshot (BABA) introduced its Kimi K2 model that it claimed was better at coding than OpenAI's ChatGPT and Anthropic's Claude. Tencent (TCEHY) also released its HunyuanWorld-1.0 model for 3D game development, and Alibaba announced Qwen3-Coder for programming tasks. In addition, has raised more than $1.5 billion from investors, which has led U.S. regulators to add the startup to their Entity List that limits American companies from working with it. Which Tech Stock Is the Better Buy? Turning to Wall Street, out of the three stocks mentioned above, analysts think that BABA stock has the most room to run. In fact, BABA's average price target of $151.08 per share implies more than 23% upside potential. On the other hand, analysts expect the least from of $184.91 equates to a gain of 5.6%.
