Restructuring
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OpenAI Can’t Dodge Elon Musk’s Fraud Claims in Restructuring Suit
US District Judge Yvonne Gonzalez Rogers in Oakland, California, on Thursday ruled that Elon Musk can pursue fraud claims in the complaint he filed against OpenAI last year. She also declined to dismiss an unjust enrichment claim against OpenAI and Microsoft Corp., a major investor in the startup.
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Apple Reportedly Moves Robotics Team Out of AI Division Ahead of Anticipated Restructuring
Apple is reportedly breaking up its artificial intelligence (AI) division and relocating two key product operations. As per the report, the Cupertino-based tech giant is currently moving its secretive robotics group to the hardware engineering division, after Siri was moved to the software engineering organisation in March. The process of taking aw...
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Intel To Cut 20% Workforce Amid Major Restructuring Efforts: Report
Intel has seen its sales drop three years in a row and has trailed Nvidia when it comes to advancements in technology.
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Apple’s New Siri Chief Enlists Vision Pro Talent to Start Comeback Bid
Apple's new Siri engineering chief is overhauling the management team. Mike Rockwell, head of engineering for the assistant, is replacing much of Siri’s leadership with lieutenants from his Vision Pro software group. He’s also restructuring teams related to speech, understanding, performance and user experience, said the people, who asked not t...
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Intel to Announce Plans This Week to Cut Over 20 Percent of Staff
Intel is poised to announce plans this week to cut more than 20 percent of its staff. The cutbacks follow an effort last year to slash about 15,000 jobs — a round of layoffs announced in August.
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Intel CEO Lip-Bu Tan Flattens Leadership Structure, Names New AI Chief, Memo Says
Intel CEO Lip-Bu Tan is flattening the semiconductor giant's leadership, with key chip divisions now reporting directly to him, as per a memo seen by Reuters. The restructuring aims to turnaround the chipmaker after years of challenges, streamlining decision-making for its data centre, AI, and PC chip groups.
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Meta's Mark Zuckerberg Disputes US Antitrust Case in Trial Testimony
Mark Zuckerberg testified in a US antitrust trial this week. The FTC is seeking to force Meta to restructure Instagram and WhatsApp, challenging its reliance on ad revenue and its dominance in the social networking space. Meta has argued that its purchases of Instagram in 2012 and WhatsApp in 2014 have benefited users.
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Group of Ex-OpenAI Employees Back Elon Musk's Lawsuit to Halt OpenAI Restructure
A dozen former OpenAI employees filed a legal brief on Friday backing co-founder Elon Musk's lawsuit aimed at keeping the non-profit status of OpenAI. In their federal court filing on Friday, the former employees contended that stripping the nonprofit of its controlling role would "fundamentally violate" its mission, as it would lose oversight of t...
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WazirX's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
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Musk-Altman Fight Over OpenAI Overhaul Set for March Trial
A federal judge has scheduled a March 16 trial for Elon Musk's lawsuit challenging Sam Altman's plan to restructure OpenAI into a for-profit entity. US District Judge Yvonne Gonzalez Rogers rejected Musk's request to halt the transformation but expedited the trial to address Musk's claim that the restructuring is unlawful.
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Hogwarts Legacy Story Expansion Reportedly Cancelled as Part of Warner Bros. Games Restructuring
Warner Bros. reportedly cancelled a planned expansion for Hogwarts Legacy, its biggest gaming hit in recent years, as part of restructuring efforts at its games division. The DLC was targeting a 2025 release and would have added story content to the action-adventure game, a new Bloomberg report has claimed.
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WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.Â
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Will Announce Leader Of Opposition After Party MLAs Take Oath On Monday: AAP
AAP leader Gopal Rai announced that the party has initiated the process of restructuring its core and frontal wings following the Delhi Assembly election results.
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Elon Musk's Reaction To Woman Losing "Dream Job" In DOGE Cuts Sparks Discussion
A US woman who once praised the convenience of remote work has lost her job in the federal restructuring spearheaded by Elon Musk.
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Elon Musk Will Pull OpenAI Bid if ChaGPT-Maker Remains Non-Profit, Lawyers Say
A consortium led by Elon Musk will withdraw its bid for OpenAI's non-profit arm on one condition -- that OpenAI lets go of its plans to become a for-profit entity. OpenAI's board has not yet received a formal bid from Musk's group, a source familiar with the matter told Reuters on Tuesday, adding to the confusion over the unsolicited attempt.
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OpenAI Can’t Dodge Elon Musk’s Fraud Claims in Restructuring Suit
US District Judge Yvonne Gonzalez Rogers in Oakland, California, on Thursday ruled that Elon Musk can pursue fraud claims in the complaint he filed against OpenAI last year. She also declined to dismiss an unjust enrichment claim against OpenAI and Microsoft Corp., a major investor in the startup.
-
Apple Reportedly Moves Robotics Team Out of AI Division Ahead of Anticipated Restructuring
Apple is reportedly breaking up its artificial intelligence (AI) division and relocating two key product operations. As per the report, the Cupertino-based tech giant is currently moving its secretive robotics group to the hardware engineering division, after Siri was moved to the software engineering organisation in March. The process of taking aw...
-
Intel To Cut 20% Workforce Amid Major Restructuring Efforts: Report
Intel has seen its sales drop three years in a row and has trailed Nvidia when it comes to advancements in technology.
-
Apple’s New Siri Chief Enlists Vision Pro Talent to Start Comeback Bid
Apple's new Siri engineering chief is overhauling the management team. Mike Rockwell, head of engineering for the assistant, is replacing much of Siri’s leadership with lieutenants from his Vision Pro software group. He’s also restructuring teams related to speech, understanding, performance and user experience, said the people, who asked not t...
-
Intel to Announce Plans This Week to Cut Over 20 Percent of Staff
Intel is poised to announce plans this week to cut more than 20 percent of its staff. The cutbacks follow an effort last year to slash about 15,000 jobs — a round of layoffs announced in August.
-
Intel CEO Lip-Bu Tan Flattens Leadership Structure, Names New AI Chief, Memo Says
Intel CEO Lip-Bu Tan is flattening the semiconductor giant's leadership, with key chip divisions now reporting directly to him, as per a memo seen by Reuters. The restructuring aims to turnaround the chipmaker after years of challenges, streamlining decision-making for its data centre, AI, and PC chip groups.
-
Meta's Mark Zuckerberg Disputes US Antitrust Case in Trial Testimony
Mark Zuckerberg testified in a US antitrust trial this week. The FTC is seeking to force Meta to restructure Instagram and WhatsApp, challenging its reliance on ad revenue and its dominance in the social networking space. Meta has argued that its purchases of Instagram in 2012 and WhatsApp in 2014 have benefited users.
-
Group of Ex-OpenAI Employees Back Elon Musk's Lawsuit to Halt OpenAI Restructure
A dozen former OpenAI employees filed a legal brief on Friday backing co-founder Elon Musk's lawsuit aimed at keeping the non-profit status of OpenAI. In their federal court filing on Friday, the former employees contended that stripping the nonprofit of its controlling role would "fundamentally violate" its mission, as it would lose oversight of t...
-
WazirX's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
-
Musk-Altman Fight Over OpenAI Overhaul Set for March Trial
A federal judge has scheduled a March 16 trial for Elon Musk's lawsuit challenging Sam Altman's plan to restructure OpenAI into a for-profit entity. US District Judge Yvonne Gonzalez Rogers rejected Musk's request to halt the transformation but expedited the trial to address Musk's claim that the restructuring is unlawful.
-
Hogwarts Legacy Story Expansion Reportedly Cancelled as Part of Warner Bros. Games Restructuring
Warner Bros. reportedly cancelled a planned expansion for Hogwarts Legacy, its biggest gaming hit in recent years, as part of restructuring efforts at its games division. The DLC was targeting a 2025 release and would have added story content to the action-adventure game, a new Bloomberg report has claimed.
-
WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.Â
-
Will Announce Leader Of Opposition After Party MLAs Take Oath On Monday: AAP
AAP leader Gopal Rai announced that the party has initiated the process of restructuring its core and frontal wings following the Delhi Assembly election results.
-
Elon Musk's Reaction To Woman Losing "Dream Job" In DOGE Cuts Sparks Discussion
A US woman who once praised the convenience of remote work has lost her job in the federal restructuring spearheaded by Elon Musk.
-
Elon Musk Will Pull OpenAI Bid if ChaGPT-Maker Remains Non-Profit, Lawyers Say
A consortium led by Elon Musk will withdraw its bid for OpenAI's non-profit arm on one condition -- that OpenAI lets go of its plans to become a for-profit entity. OpenAI's board has not yet received a formal bid from Musk's group, a source familiar with the matter told Reuters on Tuesday, adding to the confusion over the unsolicited attempt.
