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AI & Enterprise

Namutech posts Q1 sales of 37 billion won, up 117.6 percent on year

Namutech said on May 14 it posted consolidated first-quarter sales of 37 billion won, up 117.6 percent from a year earlier. Operating profit came to 400 million won and net profit was 800 million won. The company said profitability in its infrastructure business improved as corporate clients accelerated rebuilding virtual environments and shifting to multicloud setups, while higher hardware supply by subsidiary NamuICT and CocktailIO’s return to profit also helped.

AI & Enterprise

Microsoft feared losing control to OpenAI even before ChatGPT launch, court shows

Microsoft worried it could cede leadership to OpenAI even before the launch of ChatGPT, according to evidence revealed in court in a trial involving Elon Musk and Sam Altman. CEO Satya Nadella wrote in a 2022 email that he did not want Microsoft to become IBM with OpenAI becoming Microsoft. Microsoft sought intellectual property rights while investing in OpenAI. OpenAI later expanded partnerships beyond Microsoft, and Microsoft has acknowledged it as a competitor.

Industry

Anduril valuation doubles to $61 billion ahead of IPO after $5 billion funding

U.S. defence technology startup Anduril has raised $5 billion, lifting its valuation to $61 billion, double its previous $30.5 billion, as it approaches an initial public offering. The funding round was led by Thrive Capital and Andreessen Horowitz. Anduril plans to spend the proceeds on manufacturing, research and infrastructure. CEO Brian Schimpf said the company will invest aggressively to expand defence system production for the United States.