Lots has happened this past week in the tech world! With Reddit seeking an IPO launch, Arizona State University partnering with OpenAI, Honda focusing on Hybrid models in the new year, and more, there’s much to catch up on. So, let’s get started!
Reddit Seeks IPO Launch
Reddit has plans to launch its initial public offering (IPO) in March 2024. If this happens, it would mark the first IPO of a major social media company since Pinterest’s debut in 2019.
The move comes amid intense competition for advertising revenue among Reddit and its peers, facing challenges from platforms like TikTok and Facebook. The IPO would also be a test to show Reddit users’ willingness to support the company’s stock market debut.
Arizona State University Partners With OpenAI
OpenAI has begun a partnership with Arizona State University. This move follows ChatGPT’s tech goal to grow its collaborations beyond technology and media entities. ASU announced on Jan. 18 that it will gain access to ChatGPT Enterprise, a version of the popular chatbot designed to offer security, privacy, and faster access to the technology.
OpenAI’s Chief Operating Officer, Brad Lightcap, stated, “We’re eager to learn from ASU and to work toward expanding ChatGPT’s impact in higher education.”
Honda Plans to Focus On Hybrid Models
On Jan. 18, Honda Motor announced its continued focus on the sales of hybrid models and light trucks in the United States in 2024, aligning with increased demand for these vehicle types.
Mamadou Diallo, Senior Vice President of Sales at American Honda, stated, “In 2023, we were finally able to meet the pent-up demand for our products.” The company anticipates a year-on-year surge in full-year sales in the United States ranging between 10% and 15%.
The EU Veto’s Amazon iRobot Deal
EU antitrust regulators are set to block Amazon’s $1.4 billion tech acquisition of robot vacuum maker iRobot, according to sources familiar on Jan. 19.
Despite a warning from the European Commission that the deal could squash competition in the robot vacuum cleaner market, Amazon hasn’t addressed these concerns. The Commission, expected to decide on the deal by Feb. 14, refrained from commenting, as did Amazon.
Google Invests in Data Center in the UK
Google announced a $1 billion tech investment in a data center just outside of London, marking its latest commitment to meeting the escalating demand for internet services in the region.
The British government, actively encouraging business investments to support new infrastructure development, hailed Google’s investment as a “significant vote of confidence” in the UK. Prime Minister Rishi Sunak commented on the Google statement, stating, “Google’s $1 billion investment is a testament to the fact that the UK is a center of excellence in technology and has huge growth potential.”
