All posts tagged: 900M

TechCrunch Mobility: Inside GM’s 0M EV battery gamble

TechCrunch Mobility: Inside GM’s $900M EV battery gamble

Published by skeptic

Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. To get this in your inbox, sign up here for free — just click TechCrunch Mobility! Senior reporter (and resident battery expert) Tim De Chant traveled to General Motors’ sprawling Warren Technical Center outside Detroit to learn more about the automaker’s plans to reduce the cost of its next slate of EVs. The upshot: GM is banking on LMR batteries and a new Battery Cell Development Center that is viewed as the bridge between its R&D efforts and full-scale production.  Kurt Kelty, GM’s VP of battery and sustainability, provided fresh details about the company’s $900 million initiative and how this new chemistry will preserve range while slashing costs. For instance, the Chevrolet Silverado EV could be $6,000 cheaper. Read the story here. As with most companies these days, AI also makes a cameo appearance. Although I should note that AI plays more than just a supporting role at GM. I recently interviewed Sterling Anderson, GM’s chief product officer, …

ChatGPT reaches 900M weekly active users

ChatGPT reaches 900M weekly active users

Published by skeptic

ChatGPT has reached 900 million weekly active users, OpenAI announced Friday, putting the AI chatbot within striking distance of 1 billion. OpenAI also shared that it now has 50 million paying subscribers. “Subscriber momentum accelerated meaningfully to start the year, with January and February on track to be the largest months for new subscribers in our history,” the company wrote in a blog post. “People use ChatGPT to learn, write, plan, and build. As usage scales, the product improves in ways people feel immediately: faster responses, higher reliability, stronger safety, and more consistent performance.” The new weekly active user figure marks a jump of 100 million users from the 800 million that OpenAI reported in October 2025. OpenAI shared the new numbers as part of its announcement that it has raised $110 billion in private funding, marking one of the largest private funding rounds in history. The new funding includes a $50 billion investment from Amazon, along with $30 billion each from Nvidia and SoftBank, at a $730 billion pre-money valuation. The round remains open, …

Sotheby’s Prices 0M Art-Backed Securitization

Sotheby’s Prices $900M Art-Backed Securitization

Published by José Betancourt

This week Sotheby’s Financial Services (SFS) announced that it had priced a $900 million securitization backed by loans secured against artworks and, for the first time, collectible cars, according to the company. The deal is scheduled to close on February 3 and is expected to receive top-tier credit ratings from Morningstar DBRS, Sotheby’s said. In simple terms, the transaction bundles hundreds of loans made to collectors, using artworks and luxury vehicles as collateral, and sells the right to collect those future loan payments as bonds to institutional investors. Those investors receive regular payments as borrowers repay their loans, while Sotheby’s gets cash up front that it can use to make new loans. Related Articles This is the second issuance under a securitization program Sotheby’s launched in 2024, when it priced roughly $700 million in bonds backed exclusively by art-secured loan. That earlier deal was notable for pushing art lending into the same kinds of financial markets long used for mortgages, car loans, and other consumer debt. The new issuance builds on that foundation, both in size and scope. The addition …