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Ethan Thornton, a 21-year-old founder, has secured a U.S. Army contract for his defense tech startup, Mach Industries, which plans to build a 115,000 square foot factory in Huntington Beach, California. The factory, named Forge 1, will produce innovative products like the Viper UAV and Glide bomb, aiming for decentralized manufacturing to enhance production capabilities. With $85 million in funding, Mach is positioned as a key player in the defense tech sector, leveraging advanced technology and a unique manufacturing approach.
OpenAI has secured a $1.5 billion investment from SoftBank, enabling employees to sell shares in a tender offer. This move allows current and former employees to cash out while SoftBank increases its stake in the AI startup, which has seen its valuation soar to $157 billion since launching ChatGPT. The tender offer is open until December 24 for eligible employees, reflecting a shift in OpenAI's approach to liquidity amid a competitive AI landscape.
Geoff Lewis
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
teen founder secures army contract for innovative defense tech startup
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OpenAI secures 1.5 billion investment from SoftBank in employee share tender offer
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06:15 27.11.2024
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