June 20, 2023

Alibaba shakes up its leadership, OpenAI lobbies EU regulators, and the late-stage market is a mess

10 minutes

This time 'round we are here on a Tuesday due to an American holiday! Here's the rundown from Alex:

Stocks are mixed the world around as central banks tinker with interest rates to try and tune their domestic economies. The crypto world remains muted.

Alibaba's shakeup: The CEO of the Chinese tech conglomerate is leaving that role to run its cloud business, which is one of the pieces of the company that will be spun out.

Intel managed to extract a handsome package from Germany in exchange for building a plant in the country.

OpenAI is working to limit the impact of EU AI regulation on its products and services.

No one wants to buy Tiger's startup stakes en masse, so it is reduced to selling loosies to anyone who wants them.

Go-Ventures is now Argor Capital, and it has a new $240 million fund.

And funding rounds from Yellow and ElevenLabs as Byju's cuts more staff.

Don't forget, all the cool kids are taking our listener survey. Head here to make your voice heard!

We are back bright and early tomorrow. Talk soon!

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Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

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By TechCrunch, Mary Ann Azevedo, Kell, Theresa Loconsolo, Rebecca Bellan, Kirsten Korosec, Devin Coldewey, Margaux MacColl

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