Latest news with #AlexanderKolesnikov
Business Insider
8 hours ago
- Business
- Business Insider
M&A News: OpenAI Acqui-Hires Crossing Minds amid Meta Poaching Spree
Microsoft-backed OpenAI (MSFT) has hired the entire team from Crossing Minds, which is a startup that has raised $13.5 million in funding (according to TechCrunch) to build AI recommendation tools for online shopping platforms. Crossing Minds announced the news on its website by stating that it was excited to join OpenAI and support its mission to make artificial general intelligence helpful for everyone. The team said it's eager to learn, contribute, and help shape the future of AI together with OpenAI. Confident Investing Starts Here: It is worth noting that this move is considered an 'acqui-hire.' This means that OpenAI mainly acquired the startup in order to bring in its talented team. The timing is notable, as OpenAI has recently seen some of its researchers leave for rival companies, especially Meta Platforms (META), which is aggressively pushing to become the leader in the AI market. Indeed, Meta has hired several researchers from OpenAI to work on its 'superintelligence' projects. According to The Wall Street Journal, Meta brought in Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, who helped start OpenAI's Zurich office last year. In a separate report, TechCrunch also revealed that Meta hired OpenAI researcher Trapit Bansal to focus on building better reasoning models. These moves highlight the increasing competition among tech giants to secure top AI talent. Is MSFT Stock a Buy? Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 30 Buys and five Holds assigned in the last three months. Furthermore, the average MSFT price target of $521.41 per share implies 5.3% upside potential.
Business Insider
a day ago
- Business
- Business Insider
M&A News: Meta Platforms (META) Is Reportedly in Talks to Acquire PlayAI
Tech giant Meta Platforms (META) is reportedly in talks to acquire PlayAI, a California startup known for creating AI-generated voices that sound human, according to a Bloomberg report. The potential deal would give Meta access to PlayAI's technology and possibly some of its employees. However, sources noted that the agreement hasn't been finalized yet, and the terms could still change. Furthermore, the financial details of the deal have not been disclosed. Confident Investing Starts Here: This move follows Meta's recent $15 billion investment for a 49% stake in Scale AI, which shows that the company is serious about becoming a major player in the competitive AI space. Indeed, Meta has been actively pursuing AI-related deals this year while also hiring top talent from rivals like Google (GOOGL) and Microsoft-backed OpenAI (MSFT). For example, it just recently poached Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai from OpenAI's Zurich office. The company has also previously attempted to acquire other AI firms, including Perplexity AI, Runway AI, and FuriosaAI. Interestingly, Meta's aggressive push into AI is similar to its earlier strategy during the rise of social media, when it quickly acquired Instagram and WhatsApp to stay ahead of its competitors. With this new focus on AI, Meta is trying to secure a leading position in the next wave of tech innovation by using acquisitions and top-tier talent to build what it is calling its 'superintelligence group,' which focuses on developing artificial general intelligence (AGI). For context, AGI refers to AI systems that can understand, learn, and apply knowledge across a wide range of tasks at a human-like level of intelligence. Is Meta a Buy, Sell, or Hold? Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 42 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $717.26 per share implies that shares are near fair value.
Yahoo
2 days ago
- Business
- Yahoo
Meta hires three OpenAI researchers, WSJ reports
(Reuters) -Meta Chief Executive Mark Zuckerberg has hired three OpenAI researchers to join his superintelligence efforts, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company hired Lucas Beyer, Alexander Kolesnikov and Xiaohua Zhai, who were all working in OpenAI's Zurich office, the report said. Reuters could not immediately verify the report.
Yahoo
3 days ago
- Business
- Yahoo
Meta hires three OpenAI researchers, WSJ reports
(Reuters) -Meta Chief Executive Mark Zuckerberg has hired three OpenAI researchers to join his superintelligence efforts, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company hired Lucas Beyer, Alexander Kolesnikov and Xiaohua Zhai, who were all working in OpenAI's Zurich office, the report said. Reuters could not immediately verify the report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Meta hires three OpenAI researchers, WSJ reports
June 25 (Reuters) - Meta (META.O), opens new tab Chief Executive Mark Zuckerberg has hired three OpenAI researchers to join his superintelligence efforts, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company hired Lucas Beyer, Alexander Kolesnikov and Xiaohua Zhai, who were all working in OpenAI's Zurich office, the report said. Reuters could not immediately verify the report.
