| Some Private Equity Firms Doomed To Fail as High-Flying Industry Loses Its Way Sep 24th 2025, 16:03 by msmash Private equity firms are facing systemic challenges after a half-century of meteoric growth as attractive takeover targets become scarce and financing costs remain elevated while exits prove increasingly difficult. US buyout funds currently hold more than 12,000 companies that would take approximately nine years to fully distribute at current rates, according to PitchBook data. The industry holds $1.2 trillion in dry powder and nearly a quarter of that capital was pledged at least four years ago. More than 18,000 private capital funds seek $3.3 trillion from increasingly reluctant investors, Bain estimates. Quarterly returns for US private equity funds fell from 13.5% in Q2 2021 to 0.8% in Q4 2024. Apollo President Jim Zelter described the situation as a "natural washout" at an investor conference this month. Charles Wilson of Selby Jennings added that "many PE firms are dead already, they just don't know it" and noted survival depends on how forgiving limited partners -- the entities, including pension funds and endowments, that have invested in private equity firms -- prove when firms return for new fundraising.   Read more of this story at Slashdot. | | 3 Billion Users Now Use Instagram Monthly Sep 24th 2025, 15:27 by msmash CNBC: Instagram now has 3 billion monthly active users, Meta CEO Mark Zuckerberg said Wednesday on his Instagram account. "What an incredible community we've built here," Zuckerberg posted on his Instagram channel. The figure is a major milestone for the photo-sharing app, which the social media company acquired in 2012 for $1 billion. Meta last disclosed Instagram's user figures in October 2022 when Zuckerberg said during an earnings call that the app had crossed 2 billion monthly users. Read more of this story at Slashdot. | | Movie Studio Lionsgate is Struggling To Make AI-Generated Films With Runway Sep 24th 2025, 14:42 by msmash An anonymous reader shares a report: Last year, the AI video company Runway joined forces with the major Hollywood studio Lionsgate in a partnership the pair hoped would result in AI-generated scenes and even potentially full-length movies. But the project has hit a snag. According to a report by The Wrap, the past 12 months have been unproductive. Lionsgate distributes Hollywood blockbusters including The Hunger Games, John Wick, The Twilight Saga, and Saw franchises. But despite its huge catalog, it is simply not enough for the AI to produce quality content. "The Lionsgate catalog is too small to create a model," a source tells The Wrap. "In fact, the Disney catalog is too small to create a model." Despite Runway being one of the leading names in AI video, the technology needs a copious amount of data to produce AI-generated films. It is the reason AI has proven to be such an unpopular technology, as AI firms help themselves to any type of media they can get their hands on -- whether it has copyright protections or not. Another issue is the rights of actors and the model for remuneration if their likeness appears in an AI-generated clip. It is a legal gray area with no clear path. Read more of this story at Slashdot. | | Microsoft Will Let Copilot Take Control of Your Browser, Navigate Tabs and Complete Tasks As You Watch Sep 24th 2025, 14:01 by msmash Microsoft AI CEO Mustafa Suleyman told The Verge today that the company plans to transform Edge into an "agentic browser" where Copilot controls tabs, navigates websites and completes tasks while users watch. Unlike The Browser Company's new Dia browser, Microsoft will integrate these capabilities directly into Edge. Suleyman described Copilot opening tabs, reading multiple pages simultaneously and performing research transparently in real-time. The AI visits websites directly, preserving publisher traffic. Current Copilot features include tab navigation, page scrolling and content highlighting. Users will have the option to disable AI features entirely. Suleyman predicted that within years, AI companions will handle most browsing tasks while users provide oversight and feedback. Read more of this story at Slashdot. | | OpenAI, Oracle, SoftBank Plan Five New AI Data Centers For $500 Billion Stargate Project Sep 24th 2025, 13:00 by BeauHD An anonymous reader quotes a report from Reuters: OpenAI, Oracle, and SoftBank on Tuesday announced plans for five new artificial intelligence data centers in the United States to build out their ambitious Stargate project. [...] ChatGPT-maker OpenAI said on Tuesday it will open three new sites with Oracle in Shackelford County, Texas, Dona Ana County, New Mexico and an undisclosed site in the Midwest. Two more data center sites will be built in Lordstown, Ohio and Milam County, Texas by OpenAI, Japan's SoftBank and a SoftBank affiliate. The new sites, the Oracle-OpenAI site expansion in Abilene, Texas, and the ongoing projects with CoreWeave will bring Stargate's total data center capacity to nearly 7 gigawatts and more than $400 billion in investment over the next three years, OpenAI said. The $500 billion project was intended to generate 10 gigawatts in total data center capacity. "AI can only fulfill its promise if we build the compute to power it," OpenAI CEO Sam Altman said in a statement. The Tuesday's announcement, expected to create 25,000 onsite jobs, follows Nvidia saying on Monday that it will invest up to $100 billion in OpenAI and supply data center chips. OpenAI and partners plan to use debt financing to lease chips for the Stargate project, people familiar with the matter said. Read more of this story at Slashdot. | | Jaguar Land Rover Hack 'Has Cost 30,000 Cars and Threatens Supply Chain' Sep 24th 2025, 10:00 by BeauHD Jaguar Land Rover has halted production for nearly a month following a major cyberattack, costing an estimated 30,000 vehicles and billions in lost revenue. "The company said on Tuesday that production would be halted for another week until at least October 1, which increased concerns that a full return to production could be months away," reports The Times. From the report: David Bailey, professor of business economics at Birmingham University, said the JLR statement did not commit to reopening production on October 1 and even if it did "it's not going to be back to normal, but phased production start with some lines opening before others, as we saw after the Covid closure back in 2020." He said: "It's 24 days [shutdown] as of September 24. So that is roughly 1,000 cars a day, 24,000 cars not produced. So by then, that's about 1.7 billion pounds in lost revenue. By October 1, it will be a hit to revenue of something like 2.2 billion pounds. It's pretty massive. JLR can get through, but they're going to be burning through cash this month." Bailey also raised concerns that smaller companies further down the supply chain lacked the cash reserves to withstand the shutdown. The company directly employs more than 30,000 people, and it is estimated that approximately 200,000 workers in the supply chain depend on work from JLR. "The union has said that in some cases, staff have been told to go and apply for universal credit. There are firms I know that have applied for bank loans to keep going. But even then, you know they're approaching the limit of what they do. There's an added knock-on effect that some of the suppliers also supply other car assemblers, Toyota or Mini. So some of those are concerned that bits of the supply chain may go under and affect them as well, because the industry is so connected. One way or another, the government's going to take a hit. Either through some sort of emergency support, whether that's furlough or emergency short-term loans or through unemployment benefit, if this carries on." There has been uncertainty over the extent of the cyberattack and exactly how the company has been affected, as well as who is responsible for it. According to one source, some JLR staff were still unable last week to access the Slack messaging system through the company's "one sign on" system. The JLR statement added: "We have made this decision to give clarity for the coming week as we build the timeline for the phased restart of our operations and continue our investigation." Read more of this story at Slashdot. | | NASA Plans Crewed Moon Mission For February Sep 24th 2025, 07:00 by BeauHD NASA aims to launch its first crewed lunar mission in over 50 years, as early as February. The 10-day Artemis II mission will send four astronauts on a lunar flyby to test systems, paving the way for future Moon landings under the Artemis program. The BBC reports: Lakiesha Hawkins, Nasa's acting deputy associate administrator said it would be an important moment in the human exploration of space. "We together have a front row seat to history," she told a news conference this afternoon. "The launch window could open as early as the fifth of February, but we want to emphasize that safety is our top priority." Artemis Launch Director, Charlie Blackwell-Thompson explained that the powerful rocket system built to take the astronauts to the Moon, the Space Launch System (SLS) was "pretty much stacked and ready to go." All that remained was to complete the crew capsule, called Orion, connected to SLS and to complete ground tests. The Artemis II launch will see four astronauts go on a ten-day round trip to the Moon and back to the Earth. The astronauts, Reid Wiseman, Victor Glover, and Christina Koch, of Nasa and Jeremy Hansen of the Canadian Space Agency, will not land on the Moon, though they will be the first crew to travel beyond low Earth orbit since Apollo 17 in 1972. The lead Artemis II flight director, Jeff Radigan explained that the crew would be flying further into space than anyone had been before. "They're going at least 5,000 nautical miles (9,200Km) past the Moon, which is much higher than previous missions have gone," he told reporters. Further reading: NASA Introduces 10 New Astronaut Candidates Read more of this story at Slashdot. | | Why AI Chatbots Can't Process Persian Social Etiquette Sep 24th 2025, 03:30 by BeauHD An anonymous reader quotes a report from Ars Technica: If an Iranian taxi driver waves away your payment, saying, "Be my guest this time," accepting their offer would be a cultural disaster. They expect you to insist on paying -- probably three times -- before they'll take your money. This dance of refusal and counter-refusal, called taarof, governs countless daily interactions in Persian culture. And AI models are terrible at it. New research released earlier this month titled "We Politely Insist: Your LLM Must Learn the Persian Art of Taarof" shows that mainstream AI language models from OpenAI, Anthropic, and Meta fail to absorb these Persian social rituals, correctly navigating taarof situations only 34 to 42 percent of the time. Native Persian speakers, by contrast, get it right 82 percent of the time. This performance gap persists across large language models such as GPT-4o, Claude 3.5 Haiku, Llama 3, DeepSeek V3, and Dorna, a Persian-tuned variant of Llama 3. A study led by Nikta Gohari Sadr of Brock University, along with researchers from Emory University and other institutions, introduces "TAAROFBENCH," the first benchmark for measuring how well AI systems reproduce this intricate cultural practice. The researchers' findings show how recent AI models default to Western-style directness, completely missing the cultural cues that govern everyday interactions for millions of Persian speakers worldwide. "Cultural missteps in high-consequence settings can derail negotiations, damage relationships, and reinforce stereotypes," the researchers write. "Taarof, a core element of Persian etiquette, is a system of ritual politeness where what is said often differs from what is meant," the researchers write. "It takes the form of ritualized exchanges: offering repeatedly despite initial refusals, declining gifts while the giver insists, and deflecting compliments while the other party reaffirms them. This 'polite verbal wrestling' (Rafiee, 1991) involves a delicate dance of offer and refusal, insistence and resistance, which shapes everyday interactions in Iranian culture, creating implicit rules for how generosity, gratitude, and requests are expressed." Read more of this story at Slashdot. | |
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