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Yahoo Sells TechCrunch to Regent Investment Firm

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Yahoo has reached an agreement to sell its 20-year-old tech news website, TechCrunch, to media investment firm Regent. The deal, announced on Friday, marks a significant shift in the ownership of the popular platform, which provides news and analysis on global tech companies, startups, and entrepreneurs.

TechCrunch, which was previously part of Verizon Communications’ media assets, has been part of the broader portfolio that was acquired by private equity firm Apollo Global Management in 2021 for $5 billion. The assets were later rebranded under the Yahoo name. Regent, known for its recent expansion in the tech news space, also acquired Foundry, the parent company of notable publications such as PCWorld, Macworld, InfoWorld, CIO, and TechAdvisor.

While the financial terms of the deal have not been disclosed, the acquisition is expected to close in the coming weeks. Yahoo expressed confidence in TechCrunch’s future under Regent, noting that the firm’s involvement would help maintain the website’s influence and foster continued growth.

Yahoo continues to operate a range of popular news and service platforms, including Yahoo Finance, Yahoo Sports, and Engadget, as well as services like Yahoo Mail and Yahoo Search.

ByteDance Fires Intern for Sabotaging AI Training Project

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ByteDance, the parent company of TikTok, has terminated an intern for “maliciously interfering” with the training of one of its artificial intelligence (AI) models. The incident has garnered significant attention on social media over the weekend, prompting ByteDance to clarify the details surrounding the event.

The intern, who worked in the advertising technology team, reportedly lacked experience in the AI Lab. In a statement, ByteDance emphasized that the intern’s actions did not significantly disrupt its commercial online operations, including the company’s large language AI models.

ByteDance refuted claims that the incident led to over $10 million (£7.7 million) in damages by disrupting an AI training system reliant on thousands of powerful graphics processing units (GPUs). The company characterized such reports as containing “exaggerations and inaccuracies.”

In addition to firing the intern in August, ByteDance has notified the individual’s university and relevant industry bodies about the situation. The Chinese technology giant is known for its popular social media applications, including TikTok and its Chinese counterpart Douyin, and is recognized as a leader in algorithm development.

With a significant investment in AI, ByteDance utilizes the technology for various applications, including its Doubao chatbot, which has emerged as the most popular AI chatbot in China, as well as a text-to-video tool named Jimeng.

Intel Faces Setback as Broadcom Chip Manufacturing Tests Fall Short

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Intel’s efforts to revitalize its contract manufacturing business have suffered a blow after tests with chipmaker Broadcom yielded disappointing results, sources revealed. Broadcom had sent silicon wafers through Intel’s cutting-edge 18A manufacturing process, which was intended to demonstrate the viability of the technology. However, after receiving the wafers last month, Broadcom’s engineers concluded that the process was not yet suitable for high-volume production. This setback poses a significant challenge to Intel’s turnaround strategy led by CEO Pat Gelsinger, who launched the contract manufacturing division in 2021 as a cornerstone of the company’s recovery.

Despite the setback, Intel remains optimistic. The company asserted that the 18A process is “healthy and yielding well,” with plans for full-scale production on track for next year. Broadcom, on the other hand, stated that it is still evaluating Intel’s offerings and has yet to make a final decision on a potential partnership.

Intel has been under significant pressure to secure major contracts with customers like Nvidia and Apple, especially as it faces mounting losses in its foundry business, which posted a $7 billion operating loss in the last quarter. The company aims to break even by 2027, but setbacks like the one with Broadcom complicate its path forward.

The foundry business, a critical part of Intel’s $100 billion expansion strategy, is integral to filling capacity at its newly constructed facilities in the U.S. However, Intel’s struggles to achieve viable yields with its advanced processes could hinder its ability to attract customers and compete with established giants like Taiwan Semiconductor Manufacturing Co. (TSMC).

Broadcom’s decision to test Intel’s 18A technology came amidst the chipmaker’s growing focus on AI hardware, with significant contracts from companies such as Google and Meta. However, concerns about defects on the wafers and the quality of chips produced by Intel’s process have made Broadcom cautious about committing to the new manufacturing technology.

Intel has pledged to be manufacturing-ready by the end of this year for its own chips, with plans to begin high-volume production for external customers in 2025. However, with high stakes and complex challenges ahead, Intel’s ability to turn its foundry business around remains uncertain.