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Electric scooter company Bird declares bankruptcy

Bird filed for Chapter 11 bankruptcy, ending a rough year for the electric scooter company. Bird announced today that it had begun a “financial restructuring process aimed at strengthening its balance sheet” but would continue to pursue “long-term, sustainable growth.” Bird, founded in 2017 by former Lyft and Uber executive …

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Instagram finstas could become a new product called ‘flipside,’ for close friends

Instagram is considering a new feature called “flipside” that lets users create a private side of their profile to post more candid and personal photos for a select group of friends. The feature productizes “finstas”—alternative Instagram accounts where people post their real-life photos instead of their polished public Instagrams. The …

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Paris-based OpenAI competitor Mistral AI closed its $415 million funding round

Mistral AI reached its Series A funding goal in France. Bloomberg reports that the company raised €385 million, or $415 million at today’s exchange rate, worth $2 billion. Today, Mistral AI unveils its commercial platform. Google’s DeepMind and Meta alumni founded Mistral AI to create open-technology foundational models. It raised …

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US-China tech war over EV batteries escalates

Current U.S. efforts to slow China’s technological advancement focus on semiconductors. Washington targets electric vehicle batteries, another rapidly growing Chinese tech sector. This month, Treasury and Energy Department proposals would reduce tax credits for electric vehicle buyers who use battery materials from China and other “hostile” countries. EVs made in …

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