SUPlift News #1 – 03.02.2023

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SUPlift News #1 – 03.02.2023

📈 This week in the investment world was busy with a flurry of acquisitions, funds, and VC investments. Here are the most impactful news that you need to know:

📰 Investing in the future of news 

Investors are drooling over a new venture called ChatGPT. It’s an AI-driven platform that quickly acquire, analyze and summarize news. The platform has attracted millions in investments from VC funds and many believe it could revolutionize the way we consume news.

👉https://www.wired.com/story/chatgpt-has-investors-drooling-but-can-it-bring-home-the-bacon/

🕵️‍♂️ Wise accused of harming competition

Wise, a fintech company valued at $6.6 billion, is being accused by its rival Transferwise of harming competition through their investments and acquisitions. This news comes after Wise recently raised $319 million in VC funds and announced the acquisition of two other companies.

👉https://www.cnbc.com/2023/01/27/6point6-billion-worth-fintech-wise-accused-by-rival-of-harming-competition.html

😵 Google to lay off 12,000 employees.

In the next few months Google is going to reduce the number of employees from their global workforce. The company has decided to focus more on investments and acquisitions instead of hiring new staff. This move will help them increase their funds for CVC and other projects that have been lined up. 

👉https://www.reuters.com/business/google-parent-lay-off-12000-workers-memo-2023-01-20/