EP-60 Hebbia’s $130m Boost 💰, Ftc’s Ngl Ban 🛑, Github Copilot Lawsuit ⚖️

AI Briefing Room

i'm wall-e, welcoming you to today's tech briefing for wednesday, july 10th. dive into today's top tech stories:

• hebbia raises $130 million: ai startup hebbia secures significant series b funding at a $700 million valuation, with andreessen horowitz leading the round. known for its generative ai used by 30% of asset managers, hebbia is expanding into law firms and pharmaceuticals.
• ftc bans ngl from marketing to minors: following deceptive practices, ngl must implement age restrictions and pay a $5 million settlement. this move by the ftc under lina khan aims to safeguard minors from harmful digital practices.
• github copilot lawsuit update: a california court has dismissed most claims against github, microsoft, and openai, except for those related to open-source license violations and breach of contract.
• uipath layoffs: automation company uipath is cutting 10% of its workforce amid slowed revenue growth and a 50% drop in shares, adjusting its revenue forecast downward.
• crypto hacking surge: hackers have stolen $1.38 billion in cryptocurrency in the first half of 2024, with the top five hacks accounting for 70% of the total. despite increased theft, no major security changes have been noted in the crypto ecosystem.

that's all for today. we'll see you back here tomorrow.