📱 OpenAI To Build Chatbot For the iPhone

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Hey Waivly Crew! 🌊 Apple is rumored to be in intensifying talks with OpenAI about bringing GPT-4 to iOS 18. Shein will have to abide by tougher rules set out in the Digital Services Act.

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Thoma Bravo to take Darktrace private in $5 billion deal

Cybersecurity giant Darktrace is set to go private in a deal worth approximately $5 billion. Private equity firm Thoma Bravo's newly formed entity, Luke Bidco Ltd., has offered £6.20 ($7.75) per share, reflecting a 44% premium over the three-month average price. Darktrace, founded in 2013 in Cambridge, UK, specializes in AI-enabled threat detection and serves clients like Allianz and Airbus.

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Darktrace initially went public in April 2021, raising $230 million and achieving a valuation of $2.4 billion. The company's shares have fluctuated but have been steadily rising since early 2024, prompting Thoma Bravo's interest in a take-private deal valued at $5.3 billion.

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This move follows a trend of take-private deals in the tech sector, including Thoma Bravo's recent acquisitions of Everbridge and Vista Equity's purchase of Model N, reflecting a strategic move to capitalize on growth opportunities in cybersecurity.

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Apple in talks with OpenAI to integrate AI into iPhones

Apple is engaging in discussions with OpenAI and Google for AI features in iOS 18, particularly focusing on chatbot and search functionalities. According to a report by Bloomberg reporter Mark Gurman, Apple is also developing its own language models alongside these talks

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Despite Apple's historically reserved stance on its AI initiatives, CEO Tim Cook has hinted at significant strides in recent earnings calls. Cook expressed eagerness to integrate AI into products, including the M3 MacBook Air, hailed as the "world's best consumer laptop for AI."

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The exact direction of Apple's AI integration remains uncertain, with questions lingering about the reliability of generative AI. Recent releases such as the Humane Ai Pin, as noted by Gurman, received unfavorable reviews, highlighting ongoing challenges in this evolving field.

The Waves

🧠 Neuralink could be approved for general use in a year or two

💼 Bored Ape Creator Yuga Labs dismisses employees in restructuring

🤯 Nvidia-backed AI startup releases avatars that express human emotion

‎‎‏‏⚖️ US seeks 3 years prison for Binance founder Changpeng Zhao‎ ‎

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Discover more Waves in the Waivly Community. Click here to get onboard! 🌊

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Creator Special

Marc Chmura

Marc Chmura is the founder of Paybcn, a platform that revolutionizes shopping with cryptocurrency. With Paybcn, you can shop millions of products with crypto, avoiding token conversions and profit taxation to simplify your portfolio management.

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Deep Warp

Deep Ward, a fine arts artist based in Thailand, explores a diverse range of mediums including digital art, sound art, and video art. His creations are deeply influenced by personal experiences and emotions, serving as the primary sources of inspiration.

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Natalie Marina

Natalie Marina is the CEO of Noti.ai, an AI-powered meeting assistant with a technology that turns your online meetings into smartly transcribed notes, transforms them into action items, and makes follow-ups.

OpenAI Startup Fund quietly raises $15 million

The OpenAI Startup Fund, a venture fund affiliated with OpenAI, secured a $15 million investment from two undisclosed investors on or around April 19, as per a filing with the U.S. Securities and Exchange Commission. Managed by Ian Hathaway, the fund directed the capital to an entity named OpenAI Startup Fund SPV II, L.P., using a special purpose vehicle (SPV). 

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SPVs allow multiple investors to pool resources for investment in a single entity, often used in venture capital to accommodate investments outside a fund's primary focus. This marks the second instance the OpenAI Startup Fund utilized an SPV, following a $10 million round in February. 

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Although not financially tied to OpenAI, the fund faced scrutiny due to CEO Sam Altman's prior control over it, raising concerns about potential conflicts of interest. Despite assurances from OpenAI that the arrangement was temporary, critics questioned the transparency of Altman's involvement.

Shein to face EU's strictest rules for online marketplaces

Shein, a major player in ultra-fast fashion e-commerce, will now fall under stricter regulations set by the European Union’s Digital Services Act (DSA). 

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This move follows the revelation that Shein has reached over 45 million monthly users in the EU, surpassing the threshold for Very Large Online Platforms (VLOPs) designation. As a VLOP, Shein must adhere to stringent governance standards, including identifying and mitigating risks associated with counterfeit or illegal products, and harmful content. 

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Additionally, it is required to publish an ads library and provide platform data access to external researchers. Shein joins a list of roughly two dozen platforms designated as VLOPs or Very Large Online Search Engines (VLOSE) by the EU. Failure to comply with the DSA could result in penalties of up to 6% of the global annual turnover, underscoring the heightened regulatory risk for such platforms.

Waivly Work Highlights

👩‍💻 Staff Product Manager, Product Strategy at Stack Overflow

👩‍💻 Graduates Software Engineer at Orderly Network

👩‍💻 Solutions Marketing Manager at Cloudbeds

👩‍💻 Head of Product at Invisible

That wraps up today’s newsletter

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