Science and Technology

Reddit, the community-focused message board site, filed to go public on Thursday, paving the way for it to be the first major social media company to debut on the stock market in years and a test for private companies after a drought in initial public offerings.In an offering prospectus, Reddit disclosed its financial performance in preparation for selling shares to investors. The San Francisco-based company reported that its revenue rose more than 20 percent as its losses narrowed last year. It added that it had 73 million daily users and more than 100,000 active communities.The prospectus kicks off a process…

Probably only Americans of a certain age remember when the Volkswagen Beetle was the best-selling imported car in the United States and the hippest ride to a Grateful Dead concert was a Volkswagen Microbus.Volkswagen is trying to tap some of that nostalgia in its latest push to regain the status and sales it enjoyed in the United States during the Beetle’s and Microbus’s heydays in the 1960s. But this time it hopes its top models will be electric.The German carmaker is second only to Toyota globally but is a niche player in the United States. Part of its plan to…

In December 2022, Taiwan Semiconductor Manufacturing Company, the key maker of the world’s most cutting-edge chips, said it planned to spend $40 billion in Arizona on its first major U.S. hub for semiconductor production.The much ballyhooed project outside Phoenix — with two new factories, including one with more advanced technology — became a symbol of President Biden’s quest to spur more domestic production of chips, the slices of silicon that help all manner of devices make calculations and store data.Then last summer, TSMC pushed back initial manufacturing at its first Arizona factory to 2025 from this year, saying local workers…

OpenAI has completed a deal that values the San Francisco artificial intelligence company at $80 billion or more, nearly tripling its valuation in less than 10 months, according to three people with knowledge of the deal.The company would sell existing shares in a so-called tender offer led by the venture firm Thrive Capital, the people said. The deal lets employees cash out their shares in the company, rather than a traditional funding round that would raise money for business operations.OpenAI, which declined to comment, is now one of the world’s most valuable tech start-ups, behind ByteDance and SpaceX, according to…

The South Korean government unleashed a wave of panic across the internet industry: The country’s antitrust regulator said it would enact the toughest competition law outside Europe, curbing the influence of major technology companies.The Korea Fair Trade Commission, with the backing of President Yoon Suk Yeol, said in December that it planned to make a proposal modeled after the 2022 Digital Markets Act, the European Union’s landmark law to rein in American tech giants. This bill also seemed to target South Korea’s own internet conglomerates just as much as the Alphabets, Apples and Metas of the world.The commission said the…

Hackers working for nation-states have used OpenAI’s systems in the creation of their cyberattacks, according to research released Wednesday by OpenAI and Microsoft.The companies believe their research, published on their websites, documents for the first time how hackers with ties to foreign governments are using generative artificial intelligence in their attacks.But instead of using A.I. to generate exotic attacks, as some in the tech industry feared, the hackers have used it in mundane ways, like drafting emails, translating documents and debugging computer code, the companies said.“They’re just using it like everyone else is, to try to be more productive in…