Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
SYDNEY—Xero, which provides accounting software, has agreed to purchase bill-payment platform Melio for an initial sum of $2.5 billion. According to Xero, this acquisition notably boosts their revenue growth within the U.S. market. On Wednesday, the New Zealand-based firm announced plans to finance its biggest purchase ever, which comes after 19 years since the company’s inception. The funding includes a US$1.2 billion investment through an institutional placement. Additionally, they plan to utilize a US$400 million unsecured loan along with US$600 million from their current cash reserves. Shareholders of Melio, which include various private equity firms like Accel and Thrive Capital, would be granted Xero shares collectively valued at $360 million. This purchase addresses an important requirement for U.S. customers by integrating accounting and payments into a single platform, stated Xero, highlighting their competition with companies like Intuit’s QuickBooks. Xero, whi...