Tuesday, May 7, 2024

Hello, and welcome back to TechCrunch PM. Today's Apple iPad Event was quite quick, so if you missed it, we have all you need to know in one pretty package. Also, Wiz grabs a whopping $1 billion in new funding, we learn more about Wayve's outlook on autonomous things and Mercury is taking on Brex and Ramp with some new payments software. Enjoy!

TechCrunch Top 3

Image Credits: Apple

Behold, the new iPads: Apple's iPad lineup got a face-lift today, with one of the most important additions being that it now comes in two display sizes: 11 inch or 13 inch. That's right, your iPad can be the same size as a small Mac laptop. You'll definitely need the keyboard that goes with it. And the pencil. Read More

Wiz now valued at $12 billion: It's not every day that a company gets $1 billion in new funding in this venture capital environment, but here comes Wiz, the buzzy startup building an all-in-one cloud security platform. It's on an acquisition march to expand its business quickly en route to an IPO. And yes, there is artificial intelligence involved. Read More

Motional brakes: The autonomous vehicle startup backed by Hyundai and Aptiv is pausing its commercial operations and delaying plans to launch a driverless taxi service as it undergoes a restructuring. That's not the only change it is making, and unfortunately that means layoffs. Read More

Afternoon must-reads

Image Credits: James R.D. Scott / Getty Images

Whale ABCs: We always knew that whales can speak with each other. Now researchers say they have unlocked a kind of sperm whale "alphabet" with the aid of machine learning technologies. We just need an app to help us learn what the sperm whales are saying? Read More

Give a little Wayve: The U.K.-based autonomous vehicle startup started life as a software platform loaded into a tiny electric "car" called Renault Twizy. Today it's an AI model company that plans to sell its autonomous driving model to a variety of auto OEMs as well as to makers of new autonomous robots. Read More

Robert Khan isn't surprised by the internet challenges we have today: Here's what the co-creator of the internet has to say about crypto AI, "knowbots," connected devices and other things. Read More

Yabba dabba doo!: Amazon is launching a new tool that Fred Flintstone would be happy to own. It's called Bedrock Studio and is designed to let organizations experiment with generative AI models, collaborate on those models, and ultimately build generative AI-powered apps. Read More

The man behind "LockbitSupp:" He's a 31-year-old Russian named Dmitry Yuryevich Khoroshev, and the U.S. Department of Justice charged him with several computer crimes, fraud, and extortion. And in the process, the feds also revealed some details about LockBit's past operations. Read More

Jumia is back!: The African e-tailer saw its orders and gross merchandise volume increase in the first quarter of 2024, despite a reduction in quarterly active customers. Read More

Google had to come out with something, too: Brian Heater writes that the dock was what made the Pixel Tablet interesting. Now Google says you don't have to buy it if you don't want to. Read More

Nintendo Switch 2 is coming: After two years of rumors, Nintendo unceremoniously confirmed that the Switch 2 console is on the way. Read More

Mercury's fintech temperature is rising: We learned exclusively that the digital banking startup is putting itself more into the territory of fintech rivals Brex and Ramp, with a new layer of software for its bank accounts. This gives its business customers the ability to pay bills, invoice customers and reimburse employees. Read More

Money, money, money

India's Oyo, once valued at $10 billion, seeks new funding at a 70% discount. Read More

Daloopa trains AI to automate financial analysts' workflows. Read More

Rad AI, a startup that helps radiologists save time on report generation, raises a $50 million Series B from Khosla Ventures. Read MoreLegion's founder aims to close the gap between what employers and workers need. Read More

Around the web

Image Credits: Getty Images/Patra Kongsirimongkolchai / EyeEm

Suitors are circling Peloton: CNBC reports that some private equity firms are considering the connected fitness company as their next acquisition target as a way to help turn the company around. Read More

Elizabeth Holmes gets her sentence reduced again: This time, it was reduced by four months, meaning the former Theranos founder will be out just before the new year in 2032, The Guardian reports. Read More

Another SPAC: Oklo, a developer of advanced nuclear systems, was approved to go public via a special purchase acquisition company, Bloomberg reports. Oklo, which is backed by OpenAI's Sam Altman, will combine with AltC Acquisition Corp., also backed by Altman. Read More

TechCrunch Minute

Audible deploys AI-narrated audiobooks: Who wants to hear Michelle Williams tell the tale of Britney Spears when AI can do it? Audible is making it easy for authors to generate AI-narrated audiobooks, and as in many cases of AI showing up in an established industry, there's worry that the creative folks are going to get squeezed out by the robots. Can it replace the human touch? Hit play and let's chat!