Elon Musk's xAI Raises $6 Billion to Compete in AI Market


Startup xAI, founded by Elon Musk and specializing in artificial intelligence, has secured an additional $6 billion from investors. The funds will be allocated to bring its initial products to market, enhance infrastructure, and develop new technologies. While the report did not specify the company’s latest valuation, previous estimates suggest it could range between $18 billion and $24 billion. Musk, who also heads Tesla and owns the internet company X, launched the chatbot Grok last December, which is trained on texts from the X social network. xAI aims to rival OpenAI, the creator of ChatGPT, a company Musk co-founded in 2015 but left in 2018. Earlier this year, Musk sued OpenAI and its CEO, Sam Altman, alleging they deviated from the original mission of developing AI for humanity's benefit, focusing instead on profit. This tag cloud shows a list of US trademarks filed by startup X.AI CORP ith related classes.

Red Lobster Files for Bankruptcy Amid Operational Struggles


Red Lobster, the largest seafood restaurant chain in the United States, has filed for bankruptcy protection as it seeks to recover from financial difficulties. The chain faced significant challenges, including burdensome leases, high labor costs, and a problematic pricing strategy that offered unlimited shrimp at a fixed price. Despite serving 64 million customers annually since 2020, these issues proved insurmountable. Owned by Thai Union, Red Lobster is a major player in the seafood market, purchasing 20% of North American lobsters and 16% of the global supply. The court protection aims to restructure its debts and stabilize operations. This tag cloud visualizes all registered textual trademarks owned by Red Lobster Hospitality in the United States.

Apple Expands Innovation with "Apple Pencil Pro" Trademark and Advances in Foldable Display Technology


On May 15, Apple filed a trademark application for "APPLE PENCIL PRO" in the U.S., targeting input devices for computers and mobile digital devices, specifically computer styluses. Additionally, on May 23, Apple requested an extension to oppose Omranii Inc.'s "BLUE APPLE PACKAGING" trademark for polyethylene bags. This legal maneuver coincides with emerging details about Apple's development of a MacBook-like foldable device. According to supply chain analyst Ming-Chi Kuo, Apple could ship over one million units of this device with a 20-inch folding display by 2026, earlier than his previous projection of 2027. Kuo also noted that Apple is considering an 18.8-inch panel. When folded, the 20-inch model would resemble a 14- to 15-inch MacBook, while the 18.8-inch version would look like a 13- to 14-inch MacBook. Apple is collaborating with LG Display to minimize screen creases, and the device is expected to feature Apple's M5 processor, with production potentially starting at the end of next year. This aligns with earlier rumors from analysts Ross Young and Mark Gurman, suggesting a dual-screen hybrid without a physical keyboard and trackpad. This visualization shows: Apple's trademark application for 'APPLE PENCIL PRO' filed on May 15 and the 'BLUE APPLE PACKAGING' trademark examined by Apple on May 23 for potential future opposition.

Reddit and OpenAI Collaboration Boosts Shares Amid Expanding AI Integration


Reddit's shares surged 12% after hours on Thursday following the announcement of its partnership with OpenAI, the company behind the ChatGPT chatbot. This collaboration will enable ChatGPT to leverage Reddit's content, while Reddit plans to incorporate AI-driven features, diversifying its revenue streams beyond traditional advertising. The partnership also designates OpenAI as Reddit's new advertising partner. This deal emerges amidst a wave of lawsuits from copyright holders concerning the use of their materials by AI companies. Recently, Sony queried tech giants like Google, Microsoft, and OpenAI about the use of its music in AI systems. OpenAI has proactively secured content agreements with publishers like the Associated Press and the Financial Times in recent months. Reddit's shares, which began trading in March, have responded positively to the collaboration news. Chart below compares the revenues and losses of Facebook, Twitter, and Reddit in their first post-IPO quarterly results.