Welcome to this week’s Tech Weekly Roundup, your curated digest of the most significant developments in the tech industry. From major corporate shakeups to AI controversies, here’s what you need to know.
Key Highlights
1. KKR Acquires VMware’s End-User Computing Business for $4B
Investment firm KKR has struck a deal to acquire VMware’s end-user computing division from Broadcom for $4 billion. The acquisition includes VMware Workspace One and VMware Horizon, two prominent remote desktop solutions. This move signals KKR’s growing interest in enterprise tech infrastructure. Read more here.
2. Mistral AI Challenges OpenAI with New GPT-4 Rival
French AI startup Mistral AI made waves this week by launching a cutting-edge model designed to compete with OpenAI’s GPT-4, alongside its playful chatbot, Le Chat. The announcement coincided with a strategic partnership with Microsoft, which will offer Mistral’s models to Azure customers. Microsoft also made a $16 million minority investment in the startup. Learn more.
Top News Stories
Apple Scraps Its Electric Car Project
In a surprising turn, Apple has abandoned its decade-long autonomous electric car initiative, codenamed Project Titan. The decision affects hundreds of employees, with all work on the project halted. This marks another high-profile cancellation for Apple, joining the likes of AirPower and its rumored TV hardware. Full story.
Bumble Cuts 30% of Workforce Amid Growth Challenges
Dating app Bumble reported disappointing Q4 results, including a $32 million net loss and $273.6 million in revenue—falling short of Wall Street expectations. CEO Lidiane Jones announced layoffs for 350 employees (30% of staff) and plans for a major app redesign to reignite growth. Details here.
Google’s AI Image Generator Sparks Controversy
Google faced backlash after its AI image-generating model produced historically inaccurate results in the name of diversity. The company admitted the model became “oversensitive” and issued an apology. The incident highlights the challenges of balancing inclusivity with factual accuracy in AI systems. Read the report.
Tumblr CEO’s Public Feud Over Moderation Policy
Matt Mullenweg, CEO of Tumblr parent Automattic, found himself in hot water after publicly clashing with users over a contentious content moderation decision. Critics accused the platform of transphobia, sparking a heated debate. More on this.
Byju’s Investors Oust Founder Amid Financial Turmoil
Investors in Indian edtech giant Byju’s voted to remove founder Byju Raveendran as CEO, citing mismanagement. The move follows a 99% valuation drop in a recent rights issue. Full coverage.
Funding Updates
Inkitt Raises $37M for AI-Powered Publishing
The self-publishing platform uses AI to identify potential bestsellers from user-submitted stories. Read more.Lapse Secures $30M for Retro Photo-Sharing App
The app mimics old-school cameras by delaying photo “development” and disabling edits. Details here.
Analysis & Podcasts
Techstars CEO Defends Operational Overhaul
Amid criticism, Maëlle Gavet explains why physical presence isn’t essential for startup investment. Interview highlights.Equity Podcast: Covers Microsoft-Mistral AI, Thrasio, and venture capital trends. Listen here.
Found Podcast: Features Ariel Kaye, founder of Parachute Home. Tune in.
Bonus: Toyota’s $40K Discount on Hydrogen-Powered Mirai
Toyota is offering a $40,000 discount on its 2023 Mirai Limited fuel-cell vehicle—plus $15,000 in free hydrogen. The catch? Hydrogen refueling stations remain scarce. Learn why.
Stay tuned for next week’s roundup, and don’t miss StrictlyVC London in May for more insider tech discussions!
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