AI & Enterprise

Google puts brakes on Meta AI development as computing power shortage limits Gemini supply

Google has restricted usage of its Gemini AI model, and some Meta AI projects that rely on it have been halted or delayed, reports said. The disruption began around March and is still affecting some work as of late June, as Google could not provide enough computing resources to meet Meta’s demand. Meta has also pushed to cut AI operating costs and urged employees to use AI tokens more efficiently. The case underscores growing competition for computing infrastructure.

Crypto

Kalshi seeks funding at $40 billion valuation

U.S. prediction market platform Kalshi is seeking to raise new funds at a valuation of $40 billion. The investment could be completed as soon as the third quarter of this year. If the deal goes through, Kalshi’s valuation would rise to nearly double from $22 billion in May, when it raised $1 billion in a Series F round led by Coatue Management with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest.