Wave Computing, a Silicon Valley AI startup specializing in data flow processing of Deep Neural Networks, has acquired MIPS Technologies for an undisclosed amount. Wave projects that the acquisition will be immediately cash-flow positive and accretive to its balance sheet and valuation. The deal logic is pretty sound, adding new markets such as edge AI computing while giving the company in-house RISC cores it can use for its next-generation DataFlow Processing Unit datacenter AI chip. Who is Wave Computing, and why does it need MIPS? Wave is an early innovator in AI silicon geared towards datacenter use, to train deep neural networks (DNNs) and run those networks for predictions and classifications.

Tesla plans to slash its workforce by nearly one-tenth as the electric car manufacturer faces rising pressure to achieve profitability. CEO Elon Musk wrote in an internal email that the nine per cent staff reduction was in part a matter of cutting redundant roles. But he also acknowledged cash-flow issues that have raised eyebrows on Wall Street. "Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us", Mr Musk wrote. "What drives us is out mission to accelerate the world transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable".

Reliance Industries Limited today said it has completed an acquisition of close to 73 percent stake in artificial intelligence-based education technology provider Embibe. "RIL, Embibe and the other stakeholders have completed all the closing conditions and have successfully completed the sale and purchase of the shareholding of the existing investors in Embibe to RIL. With this transaction, RIL will hold 72.69 percent (on fully diluted basis) in Embibe," RIL said in a BSE filing. RIL in April had announced that it has entered into agreements to acquire close to 73 percent stake in education technology provider Individual Learning Private Ltd (Embibe) and plans to invest USD 180 million into the company over the next three years. Embibe will use the capital over the next three years towards deepening its R&D on AI in education, as well as business growth and geographic expansion, catering to students across K-12, higher education, professional skilling, vernacular languages and all curriculum categories across India and internationally.

Remark Holdings (MARK) is what one would call a contested company. It has long supporters with strong conviction, but there has also been some kind of a short drive, and the present short count is almost 16% of the nearly 25M float. That short count is far from the highest we've seen, a company like Applied Optoelectronics (AAOI) still has 78% of the float shorted (at least according to the latest figures) but it seems to have done major damage already. Who to believe, the conviction longs or the shorts who put out a troubling report. Questions like these are very difficult to solve, especially if you're not a forensic accountant. Since we're no forensic accountants ourselves, we'll try to gather some stylized facts and see what these add up to, and whether there is some chance for the longs to recoup some of their losses. This company was one of two highest conviction longs for SA contributor Yale Bock, who is the President of Y H & C Investments (see here).

Sharp Corp. announced Tuesday it will acquire Toshiba Corp.'s once-signature personal computer business in a bid to make a comeback in the PC market. Sharp, controlled by Hon Hai Precision Industry Co., will pay ¥4 billion for an 80.1 percent stake in Toshiba Client Solutions Co., a PC-related subsidiary of Toshiba that once held the biggest share of the global laptop market but has since lost out to overseas rivals. The stock transfer is planned for Oct. 1. Sharp also announced it will issue new shares worth up to ¥200 billion to buy back preferred shares from banks, seeking to quickly improve its financial status. Sharp aims to turn Toshiba's money-losing business into a new profit-driver by exploiting its liquid crystal display production and the manufacturing know-how of parent Hon Hai.

"Microsoft Monday" is a weekly column that focuses on all things Microsoft. This week "Microsoft Monday" features news about the GitHub acquisition, the first Xbox One X discount along with other deals, Office 365 getting added to the Mac App Store, Office 365 improvements and much more! GitHub Acquired For $7.5 Billion Today Microsoft officially confirmed that it has acquired GitHub for $7.5 billion. GitHub is a leading software development platform where over 28 million developers share and collaborate. "Microsoft is a developer-first company, and by joining forces with GitHub we strengthen our commitment to developer freedom, openness and innovation," said Microsoft CEO Satya Nadella.

The significant advancements made over the last decade in the abilities and cost of parallel computing, algorithms, big data and the transfer to the cloud is expected to bring artificial intelligence (AI) out of laboratories and into the mainstream world. AI is broadly defined as any intelligence demonstrated by machines or software. If a machine is capable of doing more than processing data, for example deriving knowledge from it, and augmenting human decision making, it can be considered as AI. According to data published by Grand View Research, the global artificial intelligence market is projected to reach USD 35.87 billion by 2025, while growing at a CAGR of 57.2 percent. A report by Goldman Sachs emphasized the sweeping changes AI is already causing across a variety of sectors, including advertising (programmatic ad buying), retail (customized recommendations) and investing.

The Fed's censure, according to the Journal, stemmed from concerns about Deutsche Bank's procedures for measuring its exposure to its clients and for valuing the collateral backing its loans. Regulators require efficient and accurate controls so that banks can assess their financial strength and the risks they face, especially through difficult times in the economy. Subpar controls could hamper Deutsche Bank's ability to pass two crucial upcoming tests in the U.S. The first is the Fed's stress tests, which are used to determine whether large banks can survive a severe economic downturn. Until now, only Deutsche Bank's small U.S. trust bank had gone through the tests – and even that failed. Commenting on the 2016 test, the Fed slammed the subsidiary for continuing "to have material unresolved supervisory issues that critically undermine its capital planning process." The entity did not get tested last year because of a rule change.

The Vision Fund's investment values the business at $11.5 billion. GM shares surged 11% to $42.07 in morning trading. The Vision Fund's investment will come in two tranches: an initial $900 million payment, and another of $1.35 billion once Cruise's autonomous vehicles are ready for commercial deployment, GM said. The deal will "afford GM increased flexibility with respect to capital allocation" as it plows more money into developing a network of autonomous ride-share vehicles, targeted for sometime next year, the company said. For years, GM's shares have languished as valuations for upstarts like electric-car maker Tesla Inc. and ride-share firm Uber Technologies Inc. soared on expectations of heady growth.

SenseTime Group has raised $620 million at a valuation of more than $4.5 billion just months after scoring a similar amount from investors led by Alibaba (baba) and Singapore's state investment firm. Fidelity International and Silver Lake Partners were among the investors in the latest financing, bringing the total amount raised by the three-year-old image recognition startup in the past six months to more than $1.2 billion and tripling its valuation in under a year. Tiger Capital, Qualcomm Ventures and Hopu Capital also participated. The latest funding will go toward research and talent acquisition, SenseTime said in a statement Thursday. Investors are handing billions of dollars to Chinese artificial intelligence startups, hoping to ride a wave of support from a government intent on becoming the world leader in the technology by 2030.