CTECH: Latest Israeli Innovation & Technology News Sept. 5, 2024
“The results speak for themselves. Israel will remain at the center of Intel’s global efforts.” Zohar Tsaba, Vice President of the Client Computing Group at Intel and the head of its Lunar Lake program, has no doubt that the chip giant will continue to invest in its Israel center despite undergoing dramatic cutbacks. “There is depth and technological and professional expertise here that really doesn’t exist anywhere else.” Read more
OpenAI co-founder Sutskever raises $1B at $5B valuation for safe AI startup. Safe Superintelligence (SSI), co-founded by OpenAI’s former chief scientist Ilya Sutskever, currently has 10 employees and plans to use the funds to acquire computing power and hire top talent split between Palo Alto and Tel Aviv. Read more
Meta’s content moderation under fire for allowing “River to the Sea” posts. Oversight board decision ignites controversy over political speech and online safety. Read more
Meta ends global AR chip development, shuts down Israeli operations. The process of winding down its AR chip operations began in October of last year when Meta started laying off employees globally in this division. Read more
Nvidia subpoenaed by DOJ over $700M Run:ai acquisition. U.S officials are concerned that the chipmaker is making it harder to switch to other suppliers and penalizes buyers that do not exclusively use its artificial intelligence chips. Read more
Israel urged to dump ‘Hasbara’, instead pivoting to highlight its place in the world. “It’s become a brand, a symbol of the kind of country that people don’t want around the place,” says policy advisor Simon Anholt. Read more
Intel’s Lunar Lake chips driven by Israeli innovation challenge Qualcomm and AMD. Development centers in Haifa and Petah Tikva played a crucial role in Intel’s AI-powered processors. Read more
Somite.ai takes pre-seed to $10M as it eyes to become ‘the OpenAI of stem cell biology’. The company has received an extension of $4.8 million just six months after its initial raise for its novel cell replacement therapies. Read more
Harris bets big on digital to beat Trump in 2024. A $200 million digital strategy aims to reshape the electoral landscape and secure swing state votes. Read more
The Iron Curtain falls: China’s steel exports surge amid domestic crisis. As real estate woes deepen, China floods global markets with low-cost steel, sparking international backlash. Read more
Lusix lost $65 million as lab-grown diamond prices plummeted. Court-appointed trustee considers selling assets or merging to rescue the struggling company. Lusix registered a $551,000 profit in 2021, but has lost $65 million since the beginning of 2022. These losses are primarily due to the aggressive entry of Indian competitors into the laboratory diamond market, which has driven down the price of lab-grown rough diamonds by 90%. Read more
Intel’s CEO to unveil aggressive cost-saving measures at pivotal board meeting. Gelsinger’s strategy could include selling Altera and freezing factory expansions. Read more
Shipping crisis hits consumers hard as China’s trade surplus creates bottlenecks. Rising costs and container shortages spell trouble for holiday shopping and global supply chains. Read more
Breaking the platforms: why nations are going to war with social media. Brazil’s block on X and France’s arrest of Telegram’s founder signal a new, aggressive approach to reigning in disinformation and extremism online. Read more
How China’s AI companies are outmaneuvering US chip sanctions. From efficient code to edge models, new strategies redefine the AI race. Read more
Israel’s high-tech sector joins general strike to demand hostage return. Leading Israeli tech firms unite with labor unions to pressure Netanyahu government for swift action. Read more
Intel ends car leasing program in latest cost-cut. The chip giant’s Israel management is aiming to save around $3.3 million by axing leasing as part of a broader layoff prevention strategy. Read more
Why robots aren’t taking over jobs yet: the realities behind the hype. The much-anticipated robotic revolution in the workforce hasn’t fully materialized, but will it soon? Read more
Mobileye’s China gamble backfires: How chaos in the world’s largest car market cut its value by two-thirds. Dependence on China has turned into a nightmare for the autonomous vehicle leader. Read more
Weaponizing AI: The moral dilemma of lethal autonomous robots. As militaries embrace robotic killers, the debate over their ethical use heats up. Read more
Inside the mind of Israel’s cyber queen: Tal Kollender’s unlikely path to success. From a teenage hacker to the founder of GYTPOL, Kollender’s journey was anything but ordinary. Read more
Intel shutting down startup accelerator Ignite amid massive cuts. Ignite is set to officially close in November, with the ninth and final cohort getting underway this past May. Read more
Gaming unicorn Moon Active hits $6 billion milestone with Coin Master. The Israeli company’s flagship game has raked in around $1.2 billion annually since 2020. Read more
Why did Nvidia’s stellar earnings leave investors cold? Amid soaring expectations, even record-breaking earnings can’t prevent a stock slump. Read more
Stratasys to lay off 15% of workforce as part of $40M cost-cutting plan. Around 300 employees are set to leave the Israeli 3D printer manufacturer. Read more
