Author: TechBrunch

The proliferation of data centers aimed at meeting AI's computational needs could spell bad news for the U.S. power grid, according to a new report from Bloomberg. Using 1 million home sensors tracked by Whisker Labs and market intelligence data from DC Byte, Bloomberg found that more than half of the households with the worst power distortions were within 20 miles of significant data center activity. I discovered that I live in In other words, there appears to be a link between proximity to data centers and “bad harmonics” (a term used to describe less-than-ideal power flow to the home).…

Three cryptocurrency industry groups, the DeFi Education Fund, the Blockchain Association, and the Blockchain Council of Texas, are calling the Internal Revenue Service to block new regulations that would require decentralized finance (DeFi) entities to report customer information. I'm appealing. The IRS is finalizing cryptocurrency tax regulations as part of the Biden administration's Infrastructure Investment and Jobs Act. The IRS says these new rules should help “close the information gap regarding digital assets.” The lawsuit, on the other hand, argues that this approach disproportionately relies on “DeFi trading front-ends,” online platforms that essentially allow users to access crypto protocols but…

It's been a busy year in the private equity space, with countless big acquisitions. There have been some huge deals, especially in the private equity space, with private equity firms leading deals worth billions of dollars or more for publicly traded technology companies. London-headquartered Permira was a key player, joining Blackstone in acquiring European online advertising group Adevinta for $13 billion, and in October closing on the popular deal in a deal ultimately worth $7.2 billion. Squarespace, a website building platform, has been made private. But Permira isn't just interested in multibillion-dollar acquisitions. In addition to closing a new €16.7…

CEO Sundar Pichai reportedly told Google employees that 2025 will be a “momentous” year for the company. CNBC reported that it obtained audio of a Dec. 18 strategy meeting in which Mr. Pichai and other executives, wearing tacky holiday sweaters, outlined next year's priorities. “I think 2025 is going to be a critical year,” Pichai said. “I think it's really important to recognize the urgency of this moment, and we need to move faster as a company. The stakes are high.” Of course, this is a time when technology companies like Google are investing heavily in AI, but the results…

Lawyers representing President-elect Donald Trump have asked the Supreme Court to suspend a law requiring TikTok owner ByteDance to sell short-form video apps or be barred from entering the United States. If the app is not sold, the ban is scheduled to go into effect just a few weeks later, on January 19th. ByteDance is challenging the constitutionality of the law (officially known as the Protecting Americans from Applications Controlled by Foreign Adversaries Act) to the Supreme Court. Argument is scheduled for January 10th. In a new filing, Trump's lawyers called the deadline for a ban or sale the day…

There are many iPad apps that can help you explore and express your creativity. While the iPad started out as a simple device that you could use to stream content and browse the web on the go, Apple essentially turned it into a powerful machine that you could use to create digital art, edit videos, and more. I did. Below, we've compiled a list of the best iPad apps for creativity available on the App Store. Before we get into the list, note that Adobe's creative apps are often the first choice for creativity on the iPad, but they're already…

CES opens on January 7th. The annual Las Vegas event sets the tone for the consumer electronics and automotive industries for the year. As always, TechCrunch is there to sniff out stories from the most exciting startups and tech giants. If you really want to watch some of the action without paying for a hotel or flight, many of the event's biggest keynotes will be streamed. The show officially runs from January 7th to 10th, but most of the big news will be announced before the show through an in-person press event. These are mainly set for the “Press Day”…

Canada-based accounting startup Bench, which provided software-as-a-service to small and medium-sized businesses, has abruptly shut down, according to a notice posted on its website. “Unfortunately, after December 27, 2024, you will no longer have access to the Bench platform,” the notice states. “We know this news is sudden and can be disruptive, which is why we are committed to helping Bench customers navigate the transition.” The company's website is now completely offline, except for notifications, leaving thousands of businesses in limbo. Hours before it was shut down, Bench advertised having more than 35,000 customers in the U.S., according to a…

Encode, the nonprofit that co-sponsored California's ill-fated AI safety law SB 1047, has been granted permission to file a court brief in support of Elon Musk's injunction to prevent OpenAI from becoming a for-profit company. I asked for In a draft brief filed Friday afternoon in the U.S. District Court for the Northern District of California, Encode's lawyers said OpenAI's transformation into a for-profit company would undermine the company's mission to “develop and deploy innovative technology.” He said it would be “damaging.” It is safe and beneficial to the public. ” “OpenAI and its CEO Sam Altman claim to be…

As first reported by Bloomberg, Do Kwon, co-founder of failed cryptocurrency startup Terraform Labs, will be extradited from Montenegro to the United States on federal fraud charges. Kwon is facing charges in both the United States and South Korea. Terraform Labs' cryptocurrencies TerraUSD and Luna crashed in 2022, costing investors more than $40 billion in losses. Mr. Terraform and Mr. Kwon were found personally liable for fraud in April following a civil trial on complaints filed by the U.S. Securities and Exchange Commission. Terraform agreed to pay $4.5 billion to settle its lawsuit with the SEC. Kwon was arrested in…