Wednesday, July 3, 2024

Welcome to TechCrunch AM! This morning, we've got some notes on Fisker's declining fortunes, how Google is trying to underplay its impact on AI resource usage, a privacy-focused alternative to Google Docs, and the latest drama in Rocket Land. We've also got updates on the Evolve data breach, breakthroughs in new materials development, a crypto acquisition in India, and how one sidewalk delivery robot is differentiating itself from the pack.

Also: You won't be getting a copy of TC AM tomorrow on account of the U.S. Independence day. I, for one (and hopefully many of you), will be busy with a very important beach mission. — Rebecca

TechCrunch Top 3

Image Credits: Google

1. Google doesn't want to talk about AI energy costs: Google's 80-page 2024 Environmental Report is replete with self-congratulations about its efforts to apply tech to address environmental issues and mitigate its own contributions. But it neatly dodges the question of how much energy AI is using. Google takes care to detail every statistic related to its good work, but the report gets vague when it gets to the "Responsibly managing the resource of consumption of AI" section. Read More

2. Fisker is trying to offload its EVs for $14,000 each: The bankrupt EV company has asked the courts to approve the sale of its 3,321 finished cars to a New York-based vehicle leasing company. Fisker's loss here is great since those Ocean SUVs once had a price tag of about $70,000. The company's unsecured lenders, who already expressed concern for the bargain-bin prices Fisker has been offering, will probably have something to say about this sale. Read More

3. Competitors think SpaceX is reaching too high: SpaceX wants to launch its Starship mega-rocket up to 44 times per year from NASA's Kennedy Space Center, and competitors like Blue Origin and United Launch Alliance are not happy. They've called on regulators to make sure SpaceX's plans don't disrupt their own, and Blue Origin even asked regulators to limit Starship operations to particular times. Still, the launches from the Kennedy Center don't even account for half of what SpaceX is planning. Read More

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Morning Must Reads

Image Credits: Karl Tapales / Getty Images

Evolve starts freaking out: Evolve Bank, which confirmed last week hackers posted stolen customer data to the dark web, has sent a cease and desist letter to a reporter who has been covering the situation. Jason Mikula, author of the Fintech Business Weekly newsletter, has seen and verified some of those files and started posting information on the fintechs confirmed to be involved. Evolve did not like that. Read More

A privacy-focused alt to Google Drive and Docs: Swiss pro-privacy app Proton has added document creation, editing and collaboration capabilities to its secure cloud storage service. Docs in Proton Drive offers end-to-end encryption, which means Proton can't access user content. In an era where tech companies, including Google, are tweaking T&Cs to let themselves train AI on your data, Proton's offering is very welcome. Read More

Helping big biz track ESG: European regulation is starting to mandate ESG reporting, and that's been great news for startups like Paris-based Apiday, which helps private equity funds and blue-chip companies track and pilot sustainability practices. The startup just raised a €10 million Series A to accelerate growth, even as backlash against ESG mounts in Europe and the U.S. Read More

A teaspoon of cerium, a dash of samarium: Deep tech startup Altrove has just raised €3.7 million to jump on the accelerating train of materials science breakthroughs. The company focuses on materials recipes, particularly inorganic materials and rare earth elements, which could help the thousands of companies trying to end reliance on China for those materials. Read More

Crypto M&A in India: Indian crypto exchange CoinDCX is foraying into international markets through a buyout of BitOasis, which offers trading in more than 60 tokens in the Middle East and North Africa region. Financial terms were not disclosed, but BitOasis has raised over $40 million, and CoinDCX said the deal is a profitable one for its investors. Read More

An edge in robotic delivery: Cartken is one of the numerous delivery robot companies to launch sidewalk-commuting bots in recent years, but its small mechanical critters have an edge – they can navigate both outdoor and indoor environments. This may sound simple enough, but co-founder and CEO Christian Bersch assures us that it's not, and investors appear sold on the possibilities: Cartken just raised $22.5 million, of which $10 million came from a round led by 468 Capital. Read More

Around the Web

Apple to get observer role on OpenAI's board, Bloomberg reported, citing sources familiar with the matter. Phil Schiller, head of the App Store, was reportedly chosen for the position, and while he won't be able to vote or exercise other directorial powers, he'll gain insights into how decisions are made at OpenAI. The move follows Apple's announcement in June that it had struck a deal with OpenAI to offer ChatGPT in the iPhone, iPad and Mac as part of a suite of AI features. Read More

Nvidia's chips enter China's black market: Through an underground network of buyers, sellers and couriers, Chinese buyers have found a workaround to the Biden administration's restrictions aimed at denying China access to Nvidia's advanced AI chips, reports The Wall Street Journal. More than 70 distributors are openly advertising the chips online, and the flow of chips is so steady that many are taking preorders and promising delivery in weeks. Read More

Meta intros Meta 3D Gen: The new AI system can create high-quality 3D assets from text descriptions in under a minute, reports VentureBeat. Meta isn't the only company letting people use generative AI to make assets for everything from video game development to industrial design and architecture, but it's got better reach than its startup competitors. Read More

Before You Go

Image Credits: Lam Yik/Bloomberg / Getty Images

Telegram expands in-app crypto uses: Telegram last month launched a digital currency called Stars and the chat app is now letting users trade Stars for what is essentially paywalled content from creators. Creators can withdraw their Stars and convert them to Toncoin, the crypto that Telegram uses over The Open Network blockchain. Read More