MIT-led team receives award of up to $53 million for AI-guided herbicide research
MIT says ARPA-H has awarded an MIT-led team up to $53 million to develop alternatives to existing herbicides using generative artificial intelligence.
Myomo reports record brace sales as gross margin rises to 71.3%
Myomo reported record third-quarter revenue of $12.3 million, up 22% year over year, as sales of its powered arm braces increased, Yahoo Finance reported. The company recognized revenue on 222 MyoPro units, up 19%, and recorded 258 orders, up 13%.
Australia plans rapid AI incident reporting and considers criminal liability
Australia plans to require rapid notification of AI incidents and will consider new criminal offences following a review of an OpenAI agent's access to government systems, the Guardian reported.
Two Chinese chip suppliers raise combined $301 million in Hong Kong IPOs
Chip suppliers Suzhou Denglin Technology Co. and Jiangsu Xinde Semiconductor Technology Co. have raised a combined $301 million in initial public offerings, Bloomberg reports.
Altimeter targets $2.5 billion fund for late-stage companies
Altimeter Capital Management is targeting a $2.5 billion venture capital fund for late-stage, pre-IPO companies, Bloomberg reported, citing securities filings and a person familiar with the matter.
Rocket Lab reports $3.57 billion backlog as quarterly revenue rises 72.7%
Rocket Lab reported a $3.57 billion order backlog alongside third-quarter revenue of $267.8 million, up 72.7% from a year earlier.