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Games & Commerce

Snap alumni launch early-stage AI fund targeting next-generation social media

About 20 people with backgrounds at Snap have formed an early-stage investment fund called Ghost Angels aimed at next-generation social media. TechCrunch reported the fund has already invested in at least five companies and plans to deploy remaining capital into more than 15 companies over the next year. The fund did not disclose its size. It targets pre-seed to seed AI startups in social media and consumer sectors.

Industry

Leica says generative AI will not be in M cameras but fits Xiaomi 17T Pro

Leica said generative AI features should be distinguished from its traditional cameras, while there is room to use them in licensed brands such as Xiaomi’s 17T series. The comments were made at a roundtable held after the launch of the Xiaomi 17T Pro, which highlights Leica-tuned cameras and Google’s text-to-video tool Gemini Omni. Leica also underscored photo authenticity tools, including digital signatures and metadata.

Industry

SpaceX IPO may benefit Elon Musk but hurt retail investors

SpaceX is pursuing an initial public offering at a valuation of more than $1 trillion, with losses in its AI business, uncertainty over Starship development and about $30 billion in debt emerging as key risks. A filing cited in a report also highlighted financial burdens, related-party transactions and concentrated voting power. The company put its total addressable market at $28.5 trillion, largely tied to AI, while Starlink generated more than $11 billion in revenue last year.