A lot happened in the tech world last week. From Super Micro’s stock price plummeting on Thursday to Distance Technologies raising millions in funding, there’s plenty of noteworthy news to be had. Let’s get started.
Supermicro shares plummet
Shares of Supermicro Computer, a major beneficiary of the rapid development of artificial intelligence, fell more than 12% on Thursday after reports that the Department of Justice had opened an investigation into the company.
The investigation, which is still in its early stages and comes after Hindenburg Research said it had shorted the company’s shares in late August, reported The Wall Street Journal. Hindenburg claimed in its report that it had found “new evidence of accounting manipulation,” though CNBC has not independently verified these claims.
Distance Technologies Raises Millions of Dollars in Funding
Distance Technologies, a Finnish startup focused on integrating mixed reality technology into car windshields and airplane cockpits, has secured 10 million euros ($11.1 million) in funding from Alphabet’s venture capital arm GV and other investors.
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The seed round led by GV also included additional investment from existing investors FOV Ventures and Maki.vc, the tech company told CNBC on Thursday.
OpenAI considers for-profit approach
OpenAI’s board is reportedly considering a plan to restructure the company into a for-profit entity, according to the sources, who asked not to be identified because the talks are ongoing. The company would keep its non-profit arm as a separate entity, the sources said.
The new structure is expected to simplify matters for investors and provide OpenAI employees with better opportunities to gain liquidity, the sources added.
Nvidia acquires Seattle startup
OctoAI, a Seattle-based software technology startup that specializes in tools to optimize the development and deployment of generative AI models, has been acquired by chip giant Nvidia. A banner on OctoAI’s website reads, “OctoAI is now NVIDIA.”
OctoAI notified customers via email that it will no longer commercially offer its service as of October 31st.
Starfish Space wins NASA award
Tukwila, Washington-based Starfish Space has been awarded a three-year, $15 million contract by NASA for a mission focused on closely inspecting defunct technology satellites in orbit.
These inspections, scheduled to begin in 2027 using Starfish’s Otter spacecraft, could pave the way for more advanced missions that may include repairing or removing non-operational satellites.
